Cousins Properties (CUZ) Financials

$29.19 +0.27 (+0.95%)

Closing price 08/28/2025 03:59 PM Eastern

Extended Trading

$29.19 0.00 (-0.01%)

As of 08/28/2025 06:06 PM Eastern

Annual Income Statements for Cousins Properties

This table shows Cousins Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	126	79	216	79	150	237	279	167	83	46
Consolidated Net Income / (Loss)	126	80	220	81	153	238	279	167	84	47
Net Income / (Loss) Continuing Operations	94	61	220	75	42	-502	-476	167	84	47
Total Pre-Tax Income	5.64	-27	40	63	29	-646	-635	160	81	49
Total Revenue	204	254	468	436	604	-61	13	819	803	857
Net Interest Income / (Expense)	0.00	0.00	0.00	-39	-54	-61	0.00	0.00	0.00	0.00
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	0.00	0.00	0.00	39	54	61	0.00	0.00	0.00	0.00
Total Non-Interest Income	204	254	468	475	658	0.00	13	819	803	857
Net Realized & Unrealized Capital Gains on Investments	0.00	-5.18	2.26	0.01	-	-	13	56	0.00	0.00
Other Non-Interest Income	196	259	466	475	658	-	-	762	803	857
Total Non-Interest Expense	199	281	429	373	574	585	649	659	722	807
Net Occupancy & Equipment Expense	83	97	164	165	222	251	259	258	266	281
Other Operating Expenses	44	61	66	26	42	31	101	105	141	162
Depreciation Expense	72	98	197	181	257	289	288	296	315	365
Other Gains / (Losses), net	8.30	11	47	12	13	144	159	7.69	2.80	-2.70
Net Income / (Loss) Attributable to Noncontrolling Interest	0.11	1.00	3.68	1.60	2.27	0.84	0.41	0.65	0.85	0.62
Basic Earnings per Share	$0.58	$0.31	$2.08	$0.75	$1.17	$1.60	$1.87	$1.11	$0.55	$0.30
Weighted Average Basic Shares Outstanding	215.83M	253.90M	103.90M	105.08M	128.06M	148.28M	148.67M	150.11M	151.71M	153.41M
Diluted Earnings per Share	$0.58	$0.31	$2.08	$0.75	$1.17	$1.60	$1.87	$1.11	$0.55	$0.30
Weighted Average Diluted Shares Outstanding	215.98M	256.02M	105.82M	106.87M	129.83M	148.64M	148.89M	150.42M	152.04M	154.02M
Weighted Average Basic & Diluted Shares Outstanding	216.40M	255.20M	415.90M	420.37M	146.77M	148.57M	148.69M	151.53M	151.77M	167.66M
Cash Dividends to Common per Share	$0.32	$0.24	$1.20	$1.04	$1.16	$1.20	$1.24	$1.28	$1.28	$1.28

This table shows Cousins Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	81	24	22	23	19	19	13	7.84	11	14	21
Consolidated Net Income / (Loss)	81	24	22	23	19	19	13	7.96	11	14	21
Net Income / (Loss) Continuing Operations	-114	592	-180	-181	19	426	-196	-205	11	436	-229
Total Pre-Tax Income	-171	648	-181	-182	18	426	-196	-205	13	438	-227
Total Revenue	0.00	834	0.00	0.00	199	604	0.00	0.00	209	648	0.00
Net Interest Income / (Expense)	0.00	16	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	0.00	-16	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Non-Interest Income	0.00	819	0.00	0.00	199	604	0.00	0.00	209	648	0.00
Total Non-Interest Expense	171	187	181	182	180	178	196	205	196	210	227
Net Occupancy & Equipment Expense	67	65	71	67	65	63	71	71	66	73	77
Other Operating Expenses	26	46	34	35	36	36	39	39	40	43	48
Depreciation Expense	79	76	76	80	79	79	86	95	90	94	102
Other Gains / (Losses), net	57	-56	0.67	0.75	1.09	0.29	0.45	0.44	-1.58	-2.01	-1.88
Other Adjustments to Consolidated Net Income / (Loss)	195	-	203	204	-	-	209	213	-	-	250
Net Income / (Loss) Attributable to Noncontrolling Interest	0.13	0.23	0.16	0.46	0.13	0.11	0.16	0.12	0.16	0.18	0.20
Basic Earnings per Share	$0.53	$0.16	$0.15	$0.15	$0.13	$0.12	$0.09	$0.05	$0.07	$0.09	$0.12
Weighted Average Basic Shares Outstanding	151.44M	150.11M	151.58M	151.72M	151.77M	151.71M	151.95M	152.10M	152.14M	153.41M	167.81M
Diluted Earnings per Share	$0.53	$0.16	$0.15	$0.15	$0.13	$0.12	$0.09	$0.05	$0.07	$0.09	$0.12
Weighted Average Diluted Shares Outstanding	151.70M	150.42M	151.88M	152.13M	152.05M	152.04M	152.39M	152.61M	152.81M	154.02M	168.59M
Weighted Average Basic & Diluted Shares Outstanding	151.43M	151.53M	151.69M	151.77M	151.77M	151.77M	152.07M	152.14M	152.14M	167.66M	167.91M
Cash Dividends to Common per Share	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32	$0.32

This table details how cash moves in and out of Cousins Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	1.27	45	154	-203	15	-11	4.03	-5.02	0.90	1.30
Net Cash From Operating Activities	154	118	212	229	303	351	389	365	368	400
Net Cash From Continuing Operating Activities	154	118	212	229	303	351	389	365	368	400
Net Income / (Loss) Continuing Operations	126	80	220	81	153	238	279	167	84	47
Consolidated Net Income / (Loss)	126	80	220	81	153	238	279	167	84	47
Depreciation Expense	135	145	197	181	257	289	288	296	315	365
Amortization Expense	2.90	0.56	0.86	2.42	1.50	-0.89	-0.44	-0.10	4.14	4.03
Non-Cash Adjustments to Reconcile Net Income	-103	-90	-212	-30	-153	-167	-193	-90	-35	-37
Changes in Operating Assets and Liabilities, net	-6.47	-19	5.87	-5.62	44	-7.78	16	-7.45	0.75	22
Net Cash From Investing Activities	35	466	112	-284	-357	-132	-191	-334	-296	-1,305
Net Cash From Continuing Investing Activities	35	466	112	-284	-357	-132	-191	-334	-296	-1,305
Purchase of Investment Securities	-195	-243	-353	-224	-506	-624	-853	-390	-311	-1,305
Divestitures	0.00	0.00	13	0.00	0.00	54	67	39	0.00	0.00
Sale and/or Maturity of Investments	225	716	371	0.37	149	438	595	17	15	-0.00
Net Cash From Financing Activities	-188	-539	-169	-148	69	-230	-194	-36	-72	906
Net Cash From Continuing Financing Activities	-188	-539	-169	-148	69	-230	-194	-36	-72	906
Issuance of Debt	356	1,587	939	8.00	1,862	576	1,206	871	383	2,345
Issuance of Common Equity	0.01	0.00	212	1.50	-	0.00	0.00	104	0.44	468
Repayment of Debt	-427	-1,582	-1,219	-47	-1,652	-633	-1,219	-769	-263	-1,700
Payment of Dividends	-69	-51	-99	-107	-143	-176	-183	-192	-194	-195
Other Financing Activities, Net	-0.11	-479	-1.79	-2.65	1.78	3.97	1.83	-49	1.95	-11

This table details how cash moves in and out of Cousins Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	1.45	-1.59	-1.56	4.45	-1.11	-0.88	-0.60	0.50	70	-69	-2.02
Net Cash From Operating Activities	115	93	26	135	116	91	28	126	117	129	45
Net Cash From Continuing Operating Activities	115	93	26	135	116	91	28	126	117	129	45
Net Income / (Loss) Continuing Operations	81	24	22	23	19	19	13	7.96	11	14	21
Consolidated Net Income / (Loss)	81	24	22	23	19	19	13	7.96	11	14	21
Depreciation Expense	79	76	76	80	79	79	86	95	90	94	102
Amortization Expense	-0.19	0.22	1.02	1.04	1.04	1.04	1.04	0.98	1.01	1.00	1.11
Non-Cash Adjustments to Reconcile Net Income	-65	-9.77	-7.01	-9.74	-10	-8.13	-11	-7.49	-9.05	-9.65	-15
Changes in Operating Assets and Liabilities, net	20	2.16	-66	40	27	-0.33	-61	29	24	30	-64
Net Cash From Investing Activities	-55	-86	-94	-56	-62	-84	-84	-97	-73	-1,052	87
Net Cash From Continuing Investing Activities	-55	-86	-94	-56	-62	-84	-84	-97	-73	-1,052	87
Purchase of Investment Securities	-94	-92	-94	-67	-66	-84	-84	-97	-73	-1,052	-64
Sale and/or Maturity of Investments	-	6.05	-	-	3.93	0.33	-	-	-	-	151
Net Cash From Financing Activities	-58	-8.34	66	-74	-55	-8.08	55	-28	25	854	-134
Net Cash From Continuing Financing Activities	-58	-8.34	66	-74	-55	-8.08	55	-28	25	854	-134
Issuance of Debt	71	531	165	46	81	92	171	108	616	1,449	142
Issuance of Common Equity	1.45	0.51	-	-	-	-	-	-	-	-	-0.32
Repayment of Debt	-80	-489	-51	-72	-87	-53	-66	-85	-537	-1,012	-217
Payment of Dividends	-50	-48	-48	-49	-49	-48	-49	-49	-49	-49	-55
Other Financing Activities, Net	-0.37	-2.24	0.54	0.41	-0.46	1.46	-1.35	-0.99	-5.20	-3.13	-3.71

This table presents Cousins Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,595	4,172	4,205	4,146	7,151	7,107	7,312	7,537	7,634	8,802
Cash and Due from Banks	2.00	36	149	2.55	16	4.29	8.94	5.15	6.05	7.35
Trading Account Securities	103	179	101	162	134	125	78	113	144	185
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	2,241	3,599	3,618	3,700	6,196	6,452	6,839	7,008	7,063	7,940
Intangible Assets	125	246	186	146	258	189	169	136	111	172
Other Assets	121	112	150	136	546	336	216	275	311	497
Total Liabilities & Shareholders' Equity	2,595	4,172	4,205	4,146	7,151	7,107	7,312	7,537	7,634	8,802
Total Liabilities	912	1,657	1,380	1,325	2,724	2,612	2,712	2,890	3,086	3,932
Long-Term Debt	719	1,381	1,093	1,063	2,223	2,163	2,238	2,335	2,458	3,096
Other Long-Term Liabilities	121	167	286	152	291	263	474	284	329	836
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,683	2,514	2,825	2,821	4,428	4,496	4,600	4,647	4,548	4,870
Total Preferred & Common Equity	1,683	2,456	2,772	2,766	4,359	4,467	4,567	4,626	4,524	4,847
Total Common Equity	1,683	2,449	2,765	2,764	4,358	4,467	4,567	4,626	4,524	4,847
Common Stock	1,942	3,811	4,035	4,042	5,643	5,694	5,701	5,784	5,793	6,127
Treasury Stock	-135	-148	-148	-148	-148	-148	-148	-147	-146	0.00
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	0.00	1.77	2.19	-0.11
Other Equity Adjustments	-124	-1,214	-1,122	-1,129	-1,137	-1,078	-985	-1,013	-1,125	-1,281
Noncontrolling Interest	0.00	59	53	55	69	28	34	21	24	23

This table presents Cousins Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	7,496	7,583	7,596	7,585	7,683	7,701	7,771	8,663
Cash and Due from Banks	5.51	3.59	8.03	6.93	5.45	5.95	76	5.33
Trading Account Securities	106	137	139	141	155	161	182	192
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	6,992	7,022	7,023	7,012	7,092	7,072	7,061	7,935
Intangible Assets	143	130	122	116	106	98	94	165
Other Assets	249	290	304	309	325	335	329	350
Total Liabilities & Shareholders' Equity	7,496	7,583	7,596	7,585	7,683	7,701	7,771	8,663
Total Liabilities	2,830	2,962	2,991	3,008	3,168	3,223	3,331	3,826
Other Short-Term Payables	268	205	242	267	217	237	270	293
Long-Term Debt	2,296	2,449	2,424	2,418	2,563	2,587	2,661	3,021
Other Long-Term Liabilities	266	308	326	323	388	400	400	512
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,666	4,621	4,604	4,577	4,515	4,478	4,440	4,837
Total Preferred & Common Equity	4,645	4,599	4,581	4,555	4,491	4,454	4,416	4,814
Total Common Equity	4,645	4,599	4,581	4,555	4,491	4,454	4,416	4,814
Common Stock	5,783	5,785	5,789	5,792	5,648	5,653	5,656	6,128
Accumulated Other Comprehensive Income / (Loss)	-0.65	0.54	5.57	5.72	3.19	2.77	-0.10	0.00
Other Equity Adjustments	-988	-1,040	-1,066	-1,096	-1,161	-1,202	-1,240	-1,315
Noncontrolling Interest	20	22	23	23	24	24	24	23

This table displays calculated financial ratios and metrics derived from Cousins Properties' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.10%	24.30%	84.40%	-6.97%	38.50%	-110.04%	121.59%	6,157.94%	-1.94%	6.71%
EBITDA Growth	8.53%	-17.28%	99.29%	4.01%	16.61%	-224.45%	2.94%	230.90%	-12.12%	4.57%
EBIT Growth	151.53%	-574.36%	248.81%	58.61%	-53.64%	-2,308.32%	1.65%	125.14%	-49.29%	-39.17%
NOPAT Growth	1,223.61%	-121.75%	1,023.58%	-63.49%	-53.64%	-1,645.82%	1.65%	135.92%	-49.29%	-39.17%
Net Income Growth	137.00%	-36.24%	174.59%	-63.28%	89.05%	55.95%	17.17%	-39.98%	-49.94%	-44.42%
EPS Growth	137.00%	-46.55%	174.59%	-63.28%	56.00%	36.75%	16.88%	-40.64%	-50.45%	-45.45%
Operating Cash Flow Growth	8.36%	-23.72%	79.82%	8.21%	32.37%	15.80%	10.93%	-6.24%	0.88%	8.65%
Free Cash Flow Firm Growth	138.92%	-1,110.41%	109.90%	-34.71%	-2,901.79%	83.21%	-35.84%	102.58%	251.55%	-1,708.06%
Invested Capital Growth	-2.58%	62.15%	0.60%	-0.88%	71.25%	0.11%	2.70%	2.10%	0.35%	13.70%
Revenue Q/Q Growth	-8.93%	314.65%	1.08%	-6.61%	194.19%	-107.43%	105.88%	568.15%	196.36%	8,166.67%
EBITDA Q/Q Growth	-8.52%	7.10%	19.28%	1.48%	476.89%	-167.24%	36.21%	185.18%	376.72%	201.76%
EBIT Q/Q Growth	-55.23%	-32.53%	7,962.65%	9.33%	109.74%	-369.89%	23.59%	119.31%	117.64%	106.43%
NOPAT Q/Q Growth	40.50%	-32.53%	48,898.42%	-16.92%	113.92%	-288.92%	23.59%	127.58%	125.20%	109.19%
Net Income Q/Q Growth	35.64%	-19.15%	-2.66%	-10.15%	168.50%	-31.06%	127.16%	-46.09%	-6.11%	-9.83%
EPS Q/Q Growth	35.64%	-34.04%	-2.66%	-10.15%	207.89%	-30.74%	128.05%	-46.38%	-6.78%	-9.09%
Operating Cash Flow Q/Q Growth	2.29%	-30.97%	32.55%	0.25%	21.58%	-3.50%	-0.30%	0.53%	-0.53%	10.55%
Free Cash Flow Firm Q/Q Growth	386.33%	-8,909.12%	110.26%	-1.29%	-8.62%	-1,923.03%	3.23%	101.59%	115.93%	-41.98%
Invested Capital Q/Q Growth	-2.04%	58.67%	0.15%	-0.15%	7.27%	3.04%	4.79%	0.29%	0.15%	12.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	70.46%	46.89%	50.68%	56.66%	47.70%	0.00%	-2,658.18%	55.60%	49.83%	48.83%
EBIT Margin	2.76%	-10.52%	8.49%	14.48%	4.85%	0.00%	-4,856.88%	19.51%	10.09%	5.75%
Profit (Net Income) Margin	61.47%	31.53%	46.96%	18.53%	25.30%	0.00%	2,132.51%	20.45%	10.44%	5.44%
Tax Burden Percent	2,229.05%	-299.62%	552.87%	127.99%	521.89%	-36.86%	-43.91%	104.81%	103.46%	94.53%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	-1,426.44%	0.00%	-334.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.53%	-0.59%	4.42%	1.62%	0.56%	0.00%	-6.59%	2.31%	1.16%	0.66%
ROIC Less NNEP Spread (ROIC-NNEP)	8.78%	8.82%	8.23%	3.26%	8.07%	0.00%	26.31%	2.65%	1.28%	0.56%
Return on Net Nonoperating Assets (RNNOA)	3.95%	4.41%	3.81%	1.24%	3.66%	0.00%	12.73%	1.31%	0.66%	0.33%
Return on Equity (ROE)	7.48%	3.82%	8.24%	2.86%	4.21%	5.34%	6.13%	3.62%	1.82%	0.99%
Cash Return on Invested Capital (CROIC)	6.15%	-48.01%	3.83%	2.50%	-51.98%	-6.91%	-9.25%	0.23%	0.81%	-12.16%
Operating Return on Assets (OROA)	0.21%	-0.79%	0.95%	1.51%	0.52%	0.00%	-8.81%	2.15%	1.07%	0.60%
Return on Assets (ROA)	4.77%	2.37%	5.25%	1.93%	2.70%	0.00%	3.87%	2.26%	1.10%	0.57%
Return on Common Equity (ROCE)	7.48%	3.76%	8.05%	2.80%	4.14%	5.28%	6.09%	3.60%	1.81%	0.98%
Return on Equity Simple (ROE_SIMPLE)	7.46%	3.26%	7.94%	2.92%	3.50%	5.33%	6.11%	3.62%	1.85%	0.96%
Net Operating Profit after Tax (NOPAT)	86	-19	173	63	29	-452	-445	160	81	49
NOPAT Margin	42.10%	-7.37%	36.90%	14.48%	4.85%	0.00%	-3,399.81%	19.51%	10.09%	5.75%
Net Nonoperating Expense Percent (NNEP)	-5.24%	-9.41%	-3.81%	-1.64%	-7.51%	-31.48%	-32.90%	-0.34%	-0.12%	0.10%
SG&A Expenses to Revenue	40.39%	38.15%	34.98%	37.79%	36.81%	0.00%	1,983.19%	31.56%	33.19%	32.76%
Operating Expenses to Revenue	97.24%	110.52%	91.51%	85.52%	95.15%	0.00%	4,956.88%	80.49%	89.91%	94.25%
Earnings before Interest and Taxes (EBIT)	5.64	-27	40	63	29	-646	-635	160	81	49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	144	119	237	247	288	-358	-348	455	400	418
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.87	1.01	1.08	0.94	1.12	0.95	1.14	0.73	0.77	0.95
Price to Tangible Book Value (P/TBV)	0.94	1.13	1.16	1.00	1.19	0.99	1.19	0.76	0.79	0.99
Price to Revenue (P/Rev)	7.17	9.78	6.37	5.98	8.11	0.00	398.47	4.15	4.32	5.38
Price to Earnings (P/E)	11.67	31.39	13.79	32.91	32.55	17.80	18.71	20.36	41.84	100.37
Dividend Yield	4.69%	0.00%	4.23%	4.11%	3.39%	4.22%	3.51%	5.66%	5.60%	5.28%
Earnings Yield	8.57%	3.19%	7.25%	3.04%	3.07%	5.62%	5.34%	4.91%	2.39%	1.00%
Enterprise Value to Invested Capital (EV/IC)	0.91	1.00	1.02	0.96	1.08	0.96	1.09	0.82	0.85	0.97
Enterprise Value to Revenue (EV/Rev)	10.66	15.33	8.51	8.54	11.88	0.00	571.28	7.02	7.41	9.02
Enterprise Value to EBITDA (EV/EBITDA)	15.12	32.69	16.79	15.07	24.91	0.00	0.00	12.62	14.87	18.47
Enterprise Value to EBIT (EV/EBIT)	386.41	0.00	100.21	58.98	245.13	0.00	0.00	35.97	73.41	156.76
Enterprise Value to NOPAT (EV/NOPAT)	25.31	0.00	23.07	58.98	245.13	0.00	0.00	35.97	73.41	156.76
Enterprise Value to Operating Cash Flow (EV/OCF)	14.11	33.09	18.84	16.25	23.65	18.26	19.19	15.74	16.15	19.30
Enterprise Value to Free Cash Flow (EV/FCFF)	14.56	0.00	26.64	38.09	0.00	0.00	0.00	356.72	105.02	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.43	0.55	0.39	0.38	0.50	0.48	0.49	0.50	0.54	0.64
Long-Term Debt to Equity	0.43	0.55	0.39	0.38	0.50	0.48	0.49	0.50	0.54	0.64
Financial Leverage	0.45	0.50	0.46	0.38	0.45	0.49	0.48	0.49	0.52	0.59
Leverage Ratio	1.57	1.61	1.57	1.48	1.56	1.60	1.59	1.61	1.65	1.75
Compound Leverage Factor	1.57	1.61	1.57	1.48	1.56	1.60	1.59	1.61	1.65	1.75
Debt to Total Capital	29.92%	35.45%	27.90%	27.36%	33.42%	32.48%	32.72%	33.44%	35.08%	38.86%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	29.92%	35.45%	27.90%	27.36%	33.42%	32.48%	32.72%	33.44%	35.08%	38.86%
Preferred Equity to Total Capital	0.00%	0.18%	0.18%	0.04%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	1.51%	1.36%	1.42%	1.03%	0.43%	0.49%	0.30%	0.34%	0.29%
Common Equity to Total Capital	70.08%	62.86%	70.57%	71.17%	65.52%	67.09%	66.79%	66.26%	64.58%	60.84%
Debt to EBITDA	4.99	11.59	4.61	4.30	7.72	-6.04	-6.43	5.13	6.14	7.40
Net Debt to EBITDA	4.95	11.29	3.98	4.29	7.66	-6.02	-6.40	5.12	6.13	7.38
Long-Term Debt to EBITDA	4.99	11.59	4.61	4.30	7.72	-6.04	-6.43	5.13	6.14	7.40
Debt to NOPAT	8.36	-73.79	6.32	16.84	75.98	-4.78	-5.03	14.61	30.34	62.82
Net Debt to NOPAT	8.28	-71.88	5.46	16.80	75.38	-4.77	-5.01	14.58	30.26	62.67
Long-Term Debt to NOPAT	8.36	-73.79	6.32	16.84	75.98	-4.78	-5.03	14.61	30.34	62.82
Noncontrolling Interest Sharing Ratio	0.00%	1.56%	2.35%	2.07%	1.76%	1.11%	0.68%	0.59%	0.49%	0.51%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	150	-1,512	150	98	-2,738	-460	-624	16	57	-911
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	2.48	-50.74	-7.59	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	5.81	5.62	5.79	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	5.81	5.62	5.79	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.08	0.08	0.11	0.10	0.11	0.00	0.00	0.11	0.11	0.10
Fixed Asset Turnover	0.09	0.09	0.13	0.12	0.12	0.00	0.00	0.12	0.11	0.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,402	3,895	3,918	3,884	6,651	6,658	6,838	6,982	7,006	7,966
Invested Capital Turnover	0.08	0.08	0.12	0.11	0.11	0.00	0.00	0.12	0.11	0.11
Increase / (Decrease) in Invested Capital	-64	1,493	23	-35	2,767	7.45	180	144	24	960
Enterprise Value (EV)	2,178	3,894	3,987	3,722	7,171	6,411	7,474	5,746	5,947	7,725
Market Capitalization	1,465	2,484	2,982	2,605	4,896	4,225	5,213	3,395	3,472	4,613
Book Value per Share	$7.84	$6.22	$6.58	$6.58	$29.69	$30.07	$30.71	$30.55	$29.81	$31.86
Tangible Book Value per Share	$7.26	$5.60	$6.14	$6.23	$27.94	$28.80	$29.58	$29.65	$29.08	$30.73
Total Capital	2,402	3,895	3,918	3,884	6,651	6,658	6,838	6,982	7,006	7,966
Total Debt	719	1,381	1,093	1,063	2,223	2,163	2,238	2,335	2,458	3,096
Total Long-Term Debt	719	1,381	1,093	1,063	2,223	2,163	2,238	2,335	2,458	3,096
Net Debt	713	1,345	944	1,060	2,205	2,158	2,227	2,329	2,452	3,088
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	-40	-99	-47	-18	-123	-690	-724	-7.69	-2.80	2.70
Net Nonoperating Obligations (NNO)	719	1,381	1,093	1,063	2,223	2,163	2,238	2,335	2,458	3,096
Total Depreciation and Amortization (D&A)	138	146	198	184	259	288	288	295	319	369
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.66	$1.24	$2.08	$0.76	$1.17	$1.60	$1.87	$1.11	$0.55	$0.30
Adjusted Weighted Average Basic Shares Outstanding	75.43M	63.47M	103.90M	105.08M	128.06M	148.28M	148.67M	150.11M	151.71M	153.41M
Adjusted Diluted Earnings per Share	$1.66	$1.24	$2.08	$0.76	$1.17	$1.60	$1.87	$1.11	$0.55	$0.30
Adjusted Weighted Average Diluted Shares Outstanding	75.48M	64.01M	105.82M	106.87M	129.83M	148.64M	148.89M	150.42M	152.04M	154.02M
Adjusted Basic & Diluted Earnings per Share	$1.66	$0.00	$0.00	$0.76	$1.17	$1.60	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	73.90M	98.41M	105.00M	105.09M	146.77M	148.57M	148.69M	151.53M	151.77M	167.66M
Normalized Net Operating Profit after Tax (NOPAT)	4.15	-1.55	29	44	57	-442	-445	112	57	34
Normalized NOPAT Margin	2.03%	-0.61%	6.19%	10.18%	9.53%	0.00%	-3,399.81%	13.66%	7.06%	4.03%
Pre Tax Income Margin	2.76%	-10.52%	8.49%	14.48%	4.85%	0.00%	-4,856.88%	19.51%	10.09%	5.75%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	1.60	0.54	-10.66	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	1.60	0.54	-7.46	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	1.60	0.54	-10.66	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	1.60	0.54	-7.46	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	55.08%	63.10%	45.08%	132.69%	93.62%	74.02%	65.54%	114.83%	231.87%	419.51%
Augmented Payout Ratio	93.12%	80.26%	45.08%	132.69%	93.62%	74.02%	65.54%	114.83%	231.87%	419.51%

This table displays calculated financial ratios and metrics derived from Cousins Properties' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	623.90%	100.00%	100.00%	0.00%	-27.61%	0.00%	0.00%	5.21%	7.21%	0.00%
EBITDA Growth	-1.57%	372.11%	-17.14%	-15.54%	207.14%	-30.08%	-4.53%	-8.32%	4.84%	5.26%	-13.91%
EBIT Growth	-5.14%	290.72%	-13.30%	-16.05%	110.74%	-34.28%	-8.39%	-12.89%	-29.73%	2.91%	-15.85%
NOPAT Growth	-5.14%	372.46%	-13.30%	-16.05%	115.35%	-34.28%	-8.39%	-12.89%	-29.73%	2.91%	-15.85%
Net Income Growth	49.20%	-85.46%	-20.62%	-32.45%	-75.87%	-22.41%	-39.83%	-65.50%	-41.74%	-26.88%	56.81%
EPS Growth	47.22%	-85.71%	-21.05%	-34.78%	-75.47%	-25.00%	-40.00%	-66.67%	-46.15%	-25.00%	33.33%
Operating Cash Flow Growth	-12.41%	2.12%	9.82%	0.76%	1.56%	-2.13%	6.79%	-6.73%	0.81%	42.04%	58.20%
Free Cash Flow Firm Growth	-214.07%	220.76%	23.98%	59.07%	97.20%	-20.38%	44.94%	17.10%	-491.27%	-230.05%	-544.33%
Invested Capital Growth	6.69%	2.10%	1.99%	1.29%	0.49%	0.35%	0.12%	0.51%	1.50%	13.70%	11.01%
Revenue Q/Q Growth	100.00%	0.00%	-100.00%	0.00%	0.00%	203.76%	0.00%	0.00%	0.00%	209.52%	-100.00%
EBITDA Q/Q Growth	-5.97%	883.71%	-170.34%	3.42%	198.26%	411.50%	-11.23%	-0.09%	195.11%	413.53%	-123.30%
EBIT Q/Q Growth	-9.21%	478.13%	-57.91%	-0.53%	110.11%	2,213.06%	-10.01%	-4.70%	106.29%	3,287.52%	-151.90%
NOPAT Q/Q Growth	-9.21%	640.19%	-57.91%	-0.53%	114.44%	2,213.06%	-10.01%	-4.70%	108.99%	3,287.52%	-136.33%
Net Income Q/Q Growth	136.42%	-69.85%	-8.19%	3.23%	-15.54%	-3.07%	-28.80%	-40.81%	42.65%	21.64%	52.70%
EPS Q/Q Growth	130.43%	-69.81%	-6.25%	0.00%	-13.33%	-7.69%	-25.00%	-44.44%	40.00%	28.57%	33.33%
Operating Cash Flow Q/Q Growth	-14.15%	-19.05%	-71.46%	407.95%	-13.47%	-21.99%	-68.86%	343.64%	-6.47%	9.92%	-65.31%
Free Cash Flow Firm Q/Q Growth	-4.89%	190.57%	-18.17%	17.94%	92.81%	2,671.88%	2.39%	-23.55%	48.75%	-465.69%	-79.87%
Invested Capital Q/Q Growth	0.34%	0.29%	1.27%	-0.59%	-0.46%	0.15%	1.03%	-0.20%	0.52%	12.18%	-1.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	0.00%	86.74%	0.00%	0.00%	49.75%	83.78%	0.00%	0.00%	49.58%	82.26%	0.00%
EBIT Margin	0.00%	77.62%	0.00%	0.00%	9.25%	70.47%	0.00%	0.00%	6.18%	67.65%	0.00%
Profit (Net Income) Margin	0.00%	2.92%	0.00%	0.00%	9.80%	3.13%	0.00%	0.00%	5.43%	2.13%	0.00%
Tax Burden Percent	-47.16%	3.76%	-12.35%	-12.68%	105.92%	4.44%	-6.85%	-3.87%	87.82%	3.15%	-9.28%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	9.20%	0.00%	0.00%	0.36%	8.09%	0.00%	0.00%	0.01%	7.74%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-18.07%	0.00%	0.00%	0.41%	-8.89%	0.00%	0.00%	-0.05%	-7.54%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-8.93%	0.00%	0.00%	0.21%	-4.63%	0.00%	0.00%	-0.03%	-4.44%	0.00%
Return on Equity (ROE)	6.79%	0.26%	0.00%	0.00%	0.57%	3.46%	1.64%	1.32%	-0.02%	3.30%	0.00%
Cash Return on Invested Capital (CROIC)	-15.06%	0.23%	-8.21%	-7.79%	-5.09%	0.81%	-7.41%	-8.07%	-9.10%	-12.16%	-10.19%
Operating Return on Assets (OROA)	0.00%	8.56%	0.00%	0.00%	0.33%	7.46%	0.00%	0.00%	0.01%	7.05%	0.00%
Return on Assets (ROA)	0.00%	0.32%	0.00%	0.00%	0.35%	0.33%	0.00%	0.00%	0.01%	0.22%	0.00%
Return on Common Equity (ROCE)	6.75%	0.26%	0.00%	0.00%	0.56%	3.44%	1.63%	1.31%	-0.02%	3.28%	0.00%
Return on Equity Simple (ROE_SIMPLE)	6.69%	0.00%	3.51%	3.29%	1.96%	0.00%	1.67%	1.34%	1.17%	0.00%	1.13%
Net Operating Profit after Tax (NOPAT)	-120	648	-127	-127	18	426	-137	-144	13	438	-159
NOPAT Margin	0.00%	77.62%	0.00%	0.00%	9.25%	70.47%	0.00%	0.00%	6.18%	67.65%	0.00%
Net Nonoperating Expense Percent (NNEP)	-9.24%	27.27%	-6.21%	-6.36%	-0.05%	16.98%	-6.02%	-6.06%	0.06%	15.28%	-6.46%
SG&A Expenses to Revenue	0.00%	7.75%	0.00%	0.00%	32.61%	10.48%	0.00%	0.00%	31.55%	11.27%	0.00%
Operating Expenses to Revenue	0.00%	22.38%	0.00%	0.00%	90.75%	29.53%	0.00%	0.00%	93.82%	32.35%	0.00%
Earnings before Interest and Taxes (EBIT)	-171	648	-181	-182	18	426	-196	-205	13	438	-227
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-92	724	-104	-101	99	506	-109	-109	104	533	-124
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.68	0.73	0.65	0.70	0.63	0.77	0.79	0.78	1.00	0.95	1.02
Price to Tangible Book Value (P/TBV)	0.70	0.76	0.67	0.72	0.65	0.79	0.81	0.80	1.03	0.99	1.05
Price to Revenue (P/Rev)	0.00	4.15	41.30	44.70	10.66	4.32	0.00	0.00	428.02	5.38	5.71
Price to Earnings (P/E)	10.19	20.36	18.46	21.54	32.70	41.84	47.90	58.57	86.79	100.37	91.32
Dividend Yield	6.04%	5.66%	6.53%	6.03%	6.73%	5.60%	5.48%	5.61%	5.49%	5.28%	5.48%
Earnings Yield	9.81%	4.91%	5.42%	4.64%	3.06%	2.39%	2.09%	1.71%	1.15%	1.00%	1.10%
Enterprise Value to Invested Capital (EV/IC)	0.79	0.82	0.77	0.81	0.76	0.85	0.87	0.86	0.99	0.97	1.01
Enterprise Value to Revenue (EV/Rev)	0.00	7.02	75.59	78.55	19.64	7.41	0.00	0.00	679.74	9.02	9.26
Enterprise Value to EBITDA (EV/EBITDA)	0.00	12.62	0.00	0.00	0.00	14.87	0.00	0.00	0.00	18.47	19.67
Enterprise Value to EBIT (EV/EBIT)	0.00	35.97	0.00	0.00	0.00	73.41	0.00	0.00	0.00	156.76	436.59
Enterprise Value to NOPAT (EV/NOPAT)	0.00	35.97	0.00	0.00	0.00	73.41	0.00	0.00	0.00	156.76	436.59
Enterprise Value to Operating Cash Flow (EV/OCF)	15.06	15.74	14.80	15.36	14.37	16.15	16.56	16.83	19.46	19.30	19.03
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	356.72	0.00	0.00	0.00	105.02	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.50	0.53	0.53	0.53	0.54	0.57	0.58	0.60	0.64	0.62
Long-Term Debt to Equity	0.49	0.50	0.53	0.53	0.53	0.54	0.57	0.58	0.60	0.64	0.62
Financial Leverage	0.48	0.49	0.52	0.51	0.51	0.52	0.55	0.55	0.56	0.59	0.60
Leverage Ratio	1.58	1.61	1.62	1.62	1.63	1.65	1.67	1.68	1.70	1.75	1.75
Compound Leverage Factor	1.58	1.61	1.62	1.62	1.63	1.65	1.67	1.68	1.70	1.75	1.75
Debt to Total Capital	32.98%	33.44%	34.64%	34.49%	34.57%	35.08%	36.21%	36.62%	37.48%	38.86%	38.44%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	32.98%	33.44%	34.64%	34.49%	34.57%	35.08%	36.21%	36.62%	37.48%	38.86%	38.44%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.29%	0.30%	0.31%	0.33%	0.32%	0.34%	0.34%	0.34%	0.33%	0.29%	0.30%
Common Equity to Total Capital	66.73%	66.26%	65.05%	65.19%	65.11%	64.58%	63.45%	63.04%	62.19%	60.84%	61.26%
Debt to EBITDA	-4.30	5.13	-7.60	-7.22	-16.73	6.14	-6.29	-6.22	-6.47	7.40	7.49
Net Debt to EBITDA	-4.29	5.12	-7.59	-7.19	-16.68	6.13	-6.28	-6.21	-6.29	7.38	7.48
Long-Term Debt to EBITDA	-4.30	5.13	-7.60	-7.22	-16.73	6.14	-6.29	-6.22	-6.47	7.40	7.49
Debt to NOPAT	-3.96	14.61	-5.61	-5.34	-7.52	30.34	-4.97	-4.86	-4.96	62.82	166.29
Net Debt to NOPAT	-3.95	14.58	-5.60	-5.32	-7.50	30.26	-4.96	-4.85	-4.82	62.67	165.99
Long-Term Debt to NOPAT	-3.96	14.61	-5.61	-5.34	-7.52	30.34	-4.97	-4.86	-4.96	62.82	166.29
Noncontrolling Interest Sharing Ratio	0.58%	0.59%	0.00%	0.00%	0.46%	0.49%	0.50%	0.52%	0.51%	0.51%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-556	504	-265	-217	-16	401	-146	-180	-92	-522	-939
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.11	0.01	0.01	0.04	0.11	0.00	0.00	0.00	0.10	0.10
Fixed Asset Turnover	0.00	0.12	0.01	0.01	0.04	0.11	0.00	0.00	0.00	0.11	0.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,962	6,982	7,070	7,028	6,996	7,006	7,078	7,064	7,101	7,966	7,858
Invested Capital Turnover	0.00	0.12	0.01	0.01	0.04	0.11	0.00	0.00	0.00	0.11	0.11
Increase / (Decrease) in Invested Capital	437	144	138	90	34	24	8.31	36	105	960	780
Enterprise Value (EV)	5,471	5,746	5,439	5,660	5,322	5,947	6,129	6,076	7,045	7,725	7,931
Market Capitalization	3,160	3,395	2,972	3,221	2,888	3,472	3,547	3,471	4,436	4,613	4,892
Book Value per Share	$30.68	$30.55	$30.35	$30.20	$30.01	$29.81	$29.56	$29.29	$29.03	$31.86	$28.71
Tangible Book Value per Share	$29.73	$29.65	$29.49	$29.40	$29.24	$29.08	$28.86	$28.64	$28.41	$30.73	$27.73
Total Capital	6,962	6,982	7,070	7,028	6,996	7,006	7,078	7,064	7,101	7,966	7,858
Total Debt	2,296	2,335	2,449	2,424	2,418	2,458	2,563	2,587	2,661	3,096	3,021
Total Long-Term Debt	2,296	2,335	2,449	2,424	2,418	2,458	2,563	2,587	2,661	3,096	3,021
Net Debt	2,290	2,329	2,445	2,416	2,411	2,452	2,558	2,581	2,585	3,088	3,015
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	-201	623	-149	-150	-1.09	407	-151	-152	1.58	424	-180
Net Nonoperating Obligations (NNO)	2,296	2,335	2,449	2,424	2,418	2,458	2,563	2,587	2,661	3,096	3,021
Total Depreciation and Amortization (D&A)	79	76	77	81	81	80	87	96	91	95	103
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.53	$0.16	$0.15	$0.15	$0.13	$0.12	$0.09	$0.05	$0.07	$0.09	$0.12
Adjusted Weighted Average Basic Shares Outstanding	151.44M	150.11M	151.58M	151.72M	151.77M	151.71M	151.95M	152.10M	152.14M	153.41M	167.81M
Adjusted Diluted Earnings per Share	$0.53	$0.16	$0.15	$0.15	$0.13	$0.12	$0.09	$0.05	$0.07	$0.09	$0.12
Adjusted Weighted Average Diluted Shares Outstanding	151.70M	150.42M	151.88M	152.13M	152.05M	152.04M	152.39M	152.61M	152.81M	154.02M	168.59M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	151.43M	151.53M	151.69M	151.77M	151.77M	151.77M	152.07M	152.14M	152.14M	167.66M	167.91M
Normalized Net Operating Profit after Tax (NOPAT)	-120	453	-127	-127	13	298	-137	-144	9.05	307	-159
Normalized NOPAT Margin	0.00%	54.34%	0.00%	0.00%	6.48%	49.33%	0.00%	0.00%	4.33%	47.35%	0.00%
Pre Tax Income Margin	0.00%	77.62%	0.00%	0.00%	9.25%	70.47%	0.00%	0.00%	6.18%	67.65%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	61.15%	114.83%	120.39%	130.09%	217.66%	231.87%	259.66%	326.32%	377.90%	419.51%	371.44%
Augmented Payout Ratio	61.15%	114.83%	120.39%	130.09%	217.66%	231.87%	259.66%	326.32%	377.90%	419.51%	371.44%

Key Financial Trends

Cousins Properties (NYSE:CUZ) has shown several key trends over the past four years based on the most recent quarterly financial data.

Consistent Dividend Payments: The company has maintained a quarterly dividend of $0.32 per share steadily from 2022 through Q1 2025, indicating a stable return of capital to shareholders.
Growth in Total Assets: Total assets increased from approximately $7.5 billion in Q3 2022 to about $8.66 billion by Q1 2025, showing ongoing asset growth and potential expansion.
Increasing Equity Base: Total equity and noncontrolling interests rose from roughly $4.67 billion in Q3 2022 to about $4.84 billion in Q1 2025, reflecting value accumulation and capital retention over time.
Depreciation Expense Growth: Depreciation expense increased from about $79 million quarterly in 2022 to over $102 million by Q1 2025, which generally aligns with asset base growth and investment in property, plant, and equipment.
Revenue Variability: While total revenue was substantial in 2022 and 2023 quarters (e.g., $604M in Q4 2023, $647M in Q4 2024), Q1 2025 shows zero total revenue reported; this likely reflects timing or reporting nuances rather than an actual revenue absence.
Net Interest Income at Zero: Cousins Properties reports zero net interest income or expense throughout all periods, consistent with its focus and lack of lending operations.
Fluctuating Operating Cash Flows: Net cash from operating activities varied significantly quarter-to-quarter, from a high of $134.6M in Q2 2023 to a low of $28.3M in Q1 2024, indicating some operational volatility.
Debt Movements: The company has shown active debt issuance and repayments each quarter, with long-term debt generally increasing from about $2.3B in 2022 to above $3B by Q1 2025, reflecting financing for growth or refinancing activities.
Large Net Loss in Q1 2025 (Pre-Tax and Continuing Operations): The Q1 2025 income statement shows a total pre-tax loss of $227.4M and continuing operations loss of $229.2M, which is a significant decline compared to previous quarters.
Increased Operating Expenses in Q1 2025: Net occupancy and equipment expense rose to $77.2M and depreciation to $102.1M in Q1 2025, higher than prior comparable quarters, putting more pressure on earnings.

Overall, Cousins Properties demonstrates a solid asset and equity growth trajectory over the last four years, consistent dividend payments, and active capital management through debt refinancing. However, the first quarter of 2025 presents a notable earnings setback with a large loss and elevated expenses, which investors should monitor closely for indications of whether this is a temporary issue or a longer-term challenge.

08/29/25 06:35 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Cousins Properties' Financials

When does Cousins Properties' financial year end?

According to the most recent income statement we have on file, Cousins Properties' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Cousins Properties' net income changed over the last 9 years?

In the past 9 years, Cousins Properties' net income has ranged from $46.58 million in 2024 to $279.00 million in 2021, and is currently $46.58 million as of their latest financial filing in 2024. See where experts think Cousins Properties is headed by visiting Cousins Properties' forecast page.

How has Cousins Properties' revenue changed over the last 9 years?

Over the last 9 years, Cousins Properties' total revenue changed from $204.37 million in 2015 to $856.76 million in 2024, a change of 319.2%.

How much debt does Cousins Properties have?

Cousins Properties' total liabilities were at $3.93 billion at the end of 2024, a 27.4% increase from 2023, and a 331.2% increase since 2015.

How much cash does Cousins Properties have?

In the past 9 years, Cousins Properties' cash and equivalents has ranged from $2.00 million in 2015 to $148.93 million in 2017, and is currently $7.35 million as of their latest financial filing in 2024.

How has Cousins Properties' book value per share changed over the last 9 years?

Over the last 9 years, Cousins Properties' book value per share changed from 7.84 in 2015 to 31.86 in 2024, a change of 306.2%.

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This page (NYSE:CUZ) was last updated on 8/29/2025 by MarketBeat.com Staff

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Cousins Properties (CUZ) Financials

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Cousins Properties (CUZ) Financials

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