CBL financial statements
The full income statement, balance sheet, and cash-flow statement for CBL & Associates Properties Inc. (CBL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 578M+12.2% | 516M-3.7% | 535M-4.9% | 563M | — | ||
| Lease income | 559M+13.2% | 494M-3.9% | 514M-5.2% | 542M | — | |
| Selling, general & administrative | 69.0M+2.7% | 67.3M+5.0% | 64.1M-4.7% | 67.2M | — | |
| General & administrative | 69.0M+2.7% | 67.3M+5.0% | 64.1M-4.7% | 67.2M | — | |
| Amortization of intangibles | 81.9M+22.1% | 67.0M-36.7% | 106M-30.4% | 152M | — | |
| Provision for credit losses | 3.03M-27.1% | 4.16M+152.4% | 1.65M+136.9% | -4.46M | — | |
| Interest expense | 176M+13.9% | 154M-10.7% | 173M-20.4% | 217M | — | |
| Other non-operating income | -2.05M+97.2% | -74.3M+19.6% | -92.5M+36.9% | -146M | — | |
| Equity-method income | 53.3M+132.3% | 22.9M+93.3% | 11.9M-40.1% | 19.8M | — | |
| Income tax | 475K-55.0% | 1.05M+18.0% | 894K-71.0% | 3.08M | — | |
| 136M+130.6% | 59.0M+800.9% | 6.55M+107.0% | -93.5M | — | ||
| Net income to non-controlling interest | — | — | — | -6.00M | — | |
| Net income to common | 134M+131.8% | 57.8M+963.2% | 5.43M+105.7% | -96.0M | — | |
| $4.34+132.1% | $1.87+1000.0% | $0.17+105.3% | -$3.20 | — | ||
| EPS (basic) | $4.41+135.8% | $1.87+1000.0% | $0.17+105.3% | -$3.20 | — | |
| Weighted-avg shares (basic) | 30.3M-1.8% | 30.9M-1.3% | 31.3M+4.2% | 30.0M | — | |
| Weighted-avg shares (diluted) | 30.8M-0.4% | 31.0M-1.1% | 31.3M+4.2% | 30.0M | — | |
| Dividends per share | $2.49+52.9% | $1.63-55.5% | $3.66+391.4% | $0.74 | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 42.3M+3.7% | 40.8M+19.3% | 34.2M-23.5% | 44.7M-73.6% | 170M+174.4% | |
| 2.73B-0.7% | 2.75B+14.2% | 2.41B-10.2% | 2.68B-9.1% | 2.95B-33.7% | ||
| Operating lease right-of-use | — | — | — | — | 2.97M-10.1% | |
| Short-term & current debt | 2.24M | — | — | — | — | |
| 2.36B-2.9% | 2.43B+17.3% | 2.08B-10.2% | 2.31B-9.2% | 2.54B | ||
| Long-term debt | 2.17B-1.9% | 2.21B+17.1% | 1.89B-5.6% | 2.00B+10.3% | 1.81B+53.0% | |
| Operating lease liability (total) | — | — | — | — | 2.98M-10.6% | |
| 375M+15.9% | 324M-4.6% | 339M-8.4% | 371M-6.5% | 396M-25.5% | ||
| Common stock | 30.0K-3.2% | 31.0K-3.1% | 32.0K+0.0% | 32.0K+52.4% | 21.0K-98.9% | |
| Additional paid-in capital | 687M-1.0% | 695M-3.4% | 719M+1.2% | 710M+29.7% | 548M-72.4% | |
| Retained earnings | -313M+15.8% | -372M+2.3% | -380M-12.2% | -339M-123.7% | -152M+89.6% | |
| Accumulated other comprehensive income | 443K-43.4% | 782K+28.2% | 610K+157.9% | -1.05M-35033.3% | -3.00K-116.7% | |
| Non-controlling interest | -10.3M+3.9% | -10.7M-22.7% | -8.70M-155.1% | -3.41M-169.6% | 4.90M+99.7% | |
| Total equity incl. non-controlling | 365M+16.6% | 313M-5.4% | 331M-9.9% | 367M-8.5% | 401M-24.9% | |
| Total liabilities & equity | 2.73B-0.7% | 2.75B+14.2% | 2.41B-10.2% | 2.68B-9.1% | 2.95B-33.7% | |
| Common shares issued | 30.3M-1.3% | 30.7M-4.0% | 32.0M+0.6% | 31.8M+53.0% | 20.8M-89.4% | |
| Common shares outstanding | 30.3M-1.3% | 30.7M-4.0% | 32.0M+0.6% | 31.8M+53.0% | 20.8M-89.4% | |
| Shares outstanding (cover) | 31.0M+0.1% | 30.9M-4.1% | 32.3M+0.7% | 32.1M+0.8% | 31.8M | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 250M+23.5% | 202M+10.2% | 184M-11.9% | 208M | — | ||
| Depreciation & amortization | 165M+17.5% | 141M-26.2% | 191M-25.7% | 256M | — | |
| Intangible amortization | 81.9M+22.1% | 67.0M-36.7% | 106M-30.4% | 152M | — | |
| Share-based compensation | 16.7M+12.2% | 14.9M+15.0% | 13.0M+9.2% | 11.9M | — | |
| Deferred income taxes | 11.0K+100.7% | -1.65M-28.6% | -1.28M-213.7% | 1.13M | — | |
| -115M-277.1% | 65.0M+3721.6% | 1.70M+101.1% | -157M | — | ||
| Capital expenditure | 186M | — | 42.3M-1.6% | 42.9M | — | |
| Free cash flow | 63.7M | — | 141M-14.5% | 165M | — | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Other investing activities | 2.30M-6.4% | 2.46M-7.6% | 2.66M-36.0% | 4.16M | — | |
| -135M+42.7% | -237M-15.9% | -204M-40.0% | -146M | — | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | — | |
| Common stock repurchased | 18.1M-50.5% | 36.5M+3187.5% | 1.11M | 0.00 | — | |
| Dividends paid | 77.1M+53.1% | 50.4M-57.4% | 118M+394.7% | 23.9M | — | |
| Net change in cash | -852K-102.8% | 30.7M+262.8% | -18.9M+80.0% | -94.2M | — | |
| Interest paid | 136M+3.6% | 131M-3.5% | 136M+9.7% | 124M | — | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 1.15B+26.0% | 910M+16.4% | 781M+6.4% | 735M-26.0% | 992M | |
| P/E | 8.4×-45.4% | 15.4× | — | — | — | |
| P/S | 2.0×+12.3% | 1.8×+23.1% | 1.4×+12.0% | 1.3×-26.0% | 1.7× | |
| P/B | 3.1×+8.7% | 2.8×+21.7% | 2.3×+40.0% | 1.7×-34.1% | 2.5× | |
| P/FCF | 18.0×+220.7% | 5.6×+1.1% | 5.5×+81.9% | 3.1×-26.0% | 4.1× | |
| Earnings yield | 11.9%+83.0% | 6.5% | — | — | — | |
| FCF yield | 5.6%-68.8% | 17.8%-1.1% | 18.0%-45.0% | 32.8%+35.1% | 24.3% | |
| Dividend yield | 6.7%+21.5% | 5.5%-63.1% | 15.0%+364.5% | 3.2% | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: CBL’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CBL filings on SEC EDGAR → Not investment advice.