Cousins Properties (CUZ) financial statements
Cousins Properties reported revenue of $994M in fiscal 2025, up 16.1% a year over 9 years.
Net income was $41M and the operating margin 67.8%, against 100.4% in 2016.
Free cash flow was $135M, and the company returned $216M in dividends.
The diluted share count rose 164% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cousins Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $259M | $466M | $475M | $658M | $740M | $755M | $762M | $803M | $857M | $994M |
| Cost of revenue | $97M | $164M | $165M | $222M | $251M | $259M | $258M | $266M | $281M | $314M |
| Gross profit | $162M | $302M | $311M | $435M | $489M | $496M | $504M | $536M | $576M | $679M |
| Operating income | $260M | $313M | $326M | $432M | $486M | $494M | $502M | $531M | $570M | $673M |
| Interest expense | $27M | $34M | $39M | $54M | $61M | $67M | $73M | $105M | $122M | $159M |
| Pre-tax income | -$27M | $40M | $63M | — | — | — | — | — | — | — |
| Income tax | $0 | — | — | — | — | — | — | — | — | — |
| Net income | $79M | $216M | $79M | $150M | $237M | $279M | $167M | $83M | $46M | $41M |
| EPS (diluted) | $1.24 | $2.08 | $0.75 | $1.17 | $1.60 | $1.87 | $1.11 | $0.55 | $0.30 | $0.24 |
| Diluted shares | 64M | 106M | 107M | 130M | 149M | 149M | 150M | 152M | 154M | 169M |
| Gross margin | 62.6% | 64.8% | 65.3% | 66.2% | 66.1% | 65.6% | 66.1% | 66.8% | 67.2% | 68.4% |
| Operating margin | 100.4% | 67.2% | 68.6% | 65.7% | 65.7% | 65.4% | 65.9% | 66.1% | 66.6% | 67.8% |
| Net margin | 30.5% | 46.4% | 16.7% | 22.9% | 32.0% | 36.9% | 21.9% | 10.3% | 5.4% | 4.1% |
Balance sheet
Fiscal years, from Cousins Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $36M | $149M | $3M | $16M | $4M | $9M | $5M | $6M | $7M | $6M |
| Goodwill | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M |
| Total assets | $4.2B | $4.2B | $4.1B | $7.2B | $7.1B | $7.3B | $7.5B | $7.6B | $8.8B | $8.9B |
| Total liabilities | $1.7B | $1.4B | $1.3B | $2.7B | $2.6B | $2.7B | $2.9B | $3.1B | $3.9B | $4.2B |
| Shareholders' equity | $2.5B | $2.8B | $2.8B | $4.4B | $4.5B | $4.6B | $4.6B | $4.5B | $4.8B | $4.7B |
| Net debt | -$36M | -$149M | -$3M | -$16M | -$4M | -$9M | -$5M | -$6M | -$7M | -$6M |
Cash flow
Fiscal years, from Cousins Properties's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $118M | $212M | $229M | $303M | $351M | $389M | $365M | $368M | $400M | $402M |
| Capital spending | — | — | — | — | — | — | $342M | $280M | $253M | $267M |
| Free cash flow | — | — | — | — | — | — | $23M | $89M | $148M | $135M |
| Stock-based compensation | — | — | $8M | $14M | $9M | $11M | $10M | $12M | $15M | $16M |
| Dividends paid | $51M | $99M | $107M | $143M | $176M | $183M | $192M | $194M | $195M | $216M |
| Share buybacks (net) | -$14M | $0 | $0 | — | — | — | — | — | — | — |
| Free cash flow margin | — | — | — | — | — | — | 3.0% | 11.1% | 17.2% | 13.6% |
| Dividends per share | $0.79 | $0.94 | $1.00 | $1.10 | $1.19 | $1.23 | $1.28 | $1.28 | $1.27 | $1.28 |
Questions
What was Cousins Properties's revenue in 2025?
$994M in fiscal 2025, from its 10-K filing.
How much free cash flow does Cousins Properties generate?
$135M in fiscal 2025 (operating cash flow minus capital spending).
From Cousins Properties's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.