Cousins Properties Incorporated (CUZ) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.08	$0.1	+25.0%	—	$268.5M	—
Q1 26	$0.06	$0.07	+16.7%	—	$263.1M	—
Q4 25	$0.06	$0.06	0.0%	—	$255M	—
Q3 25	$0.1	$0.05	-50.0%	—	$248.3M	—
Q2 25	$0.08	$0.09	+12.5%	—	$240.1M	—
Q1 25	$0.07	$0.12	+71.4%	—	$250.3M	—
Q4 24	$0.11	$0.09	-18.2%	—	$225.3M	—
Q3 24	$0.07	$0.07	0.0%	—	$209.2M	—
Q2 24	$0.09	$0.05	-44.4%	—	$213M	—
Q1 24	$0.12	$0.09	-25.0%	—	$209.2M	—
Q4 23	$0.12	$0.12	0.0%	—	$197M	—
Q3 23	$0.12	$0.13	+8.3%	—	$198.8M	—
Q2 23	$0.16	$0.15	-6.3%	—	$204.3M	—
Q1 23	$0.14	$0.19	+35.7%	—	$202.7M	—
Q4 22	$0.18	$0.16	-11.1%	—	$194.5M	—
Q3 22	$0.2	$0.53	+165.0%	—	$195.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.24	—	—	$993.8M	—
FY24	—	$0.3	—	—	$856.8M	—
FY23	—	$0.55	—	—	$802.9M	—
FY22	—	$1.11	—	—	$762.3M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$259.2M	$466.2M	$475.2M	$657.5M	$740.3M	$755.1M	$762.3M	$802.9M	$856.8M	$993.8M
YoY change	+26.8%	+79.8%	+1.94%	+38.4%	+12.6%	+1.99%	+0.96%	+5.32%	+6.71%	+16%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	259.2M	466.2M	475.2M	657.5M	740.3M	755.1M	762.3M	802.9M	856.8M	993.8M
Cost of revenue	96.9M	163.9M	164.7M	222.1M	250.8M	259.5M	258.4M	266.4M	280.7M	314.5M
Gross profit	162.3M	302.3M	310.5M	435.4M	489.5M	495.6M	503.9M	536.4M	576.1M	679.3M
Gross margin	62.6%	64.8%	65.3%	66.2%	66.1%	65.6%	66.1%	66.8%	67.2%	68.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	25.6M	27.5M	22M	37M	27M	29.3M	28.3M	32.3M	36.6M	38.6M
Operating expenses	28.9M	31.1M	25.8M	41M	28.6M	29.3M	28.3M	32.3M	36.6M	38.6M
Operating income	38.8M	78M	107.1M	141.2M	173.8M	178.2M	180M	189.2M	174.5M	225.3M
Operating margin	15%	16.7%	22.5%	21.5%	23.5%	23.6%	23.6%	23.6%	20.4%	22.7%
Non-operating income, net	-38.8M	-4.7M	13.1M	65.4M	124.9M	167.8M	60M	67K	-5.4M	-24.8M
Pretax income	-26.7M	39.8M	80.8M	152.7M	238.1M	279M	167.4M	83.8M	46.6M	41.3M
Income tax	0	—	—	—	—	—	—	—	—	—
Net income	80.1M	220M	80.8M	152.7M	238.1M	279M	167.4M	83.8M	46.6M	41.3M
Net margin	30.9%	47.2%	17%	23.2%	32.2%	36.9%	22%	10.4%	5.44%	4.15%
EBITDA	174.9M	269.5M	296.4M	405.9M	466.7M	468.5M	479.1M	503.7M	534M	630.2M
EPS	1.24	2.08	0.76	1.17	1.6	1.87	1.11	0.55	0.3	0.24
Diluted EPS	1.24	2.08	0.76	1.17	1.6	1.87	1.11	0.55	0.3	0.24

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	198.8M	197M	209.2M	213M	209.2M	225.3M	250.3M	240.1M	248.3M	255M	263.1M	268.5M
Cost of revenue	64.8M	63.3M	71.1M	70.6M	66M	72.9M	77.2M	74.2M	80M	83.1M	82.6M	84.7M
Gross profit	134M	133.7M	138.2M	142.3M	143.2M	152.4M	173.2M	165.9M	168.3M	171.9M	180.5M	183.9M
Gross margin	67.4%	67.9%	66%	66.8%	68.5%	67.6%	69.2%	69.1%	67.8%	67.4%	68.6%	68.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	8.3M	7.5M	9.2M	8.9M	9.2M	9.2M	10.7M	9.7M	9.5M	8.7M	11.8M	12.1M
Operating expenses	8.3M	7.5M	9.2M	8.9M	9.2M	9.2M	10.7M	9.7M	9.5M	8.7M	11.8M	12.1M
Operating income	46.2M	46.8M	42.7M	38M	44.2M	49.5M	60.3M	55.3M	53.5M	56.1M	60.3M	66.9M
Operating margin	23.2%	23.8%	20.4%	17.9%	21.1%	22%	24.1%	23%	21.6%	22%	22.9%	24.9%
Non-operating income, net	317K	-447K	-363K	-318K	-2.1M	-2.7M	-2.5M	-2.1M	-3.2M	-16.9M	-39.8M	6.4M
Pretax income	19.5M	18.9M	13.5M	8M	11.4M	13.8M	21.1M	14.7M	8.8M	-3.3M	-24.7M	26.2M
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	19.5M	18.9M	13.5M	8M	11.4M	13.8M	21.1M	14.7M	8.8M	-3.3M	-24.7M	26.2M
Net margin	9.8%	9.59%	6.43%	3.74%	5.43%	6.13%	8.43%	6.1%	3.53%	-1.28%	-9.38%	9.77%
EBITDA	125.5M	125.7M	128.5M	133.1M	131.9M	140.5M	160M	154.1M	155.5M	146.3M	165.5M	169M
EPS	0.13	0.12	0.09	0.05	0.07	0.09	0.12	0.09	0.05	-0.02	-0.15	0.16
Diluted EPS	0.13	0.12	0.09	0.05	0.07	0.09	0.12	0.09	0.05	-0.02	-0.15	0.16

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	3.3B	—	—	6B	3.8B	3.7B	4.7B	4.3B	4.6B
Enterprise value	—	—	4.4B	—	—	8.3B	6.2B	6.2B	7.8B	7.7B	8.5B
Shares outstanding	63.5M	103.9M	105.1M	128.1M	148.3M	148.7M	150.1M	151.7M	153.4M	167.9M	167.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	41.1	—	—	21.5	22.7	44.1	100.9	104.9	716.3
P/S	—	—	6.99	—	—	7.93	4.98	4.6	5.49	4.36	4.6
P/B	—	—	1.18	—	—	1.3	0.82	0.81	0.97	0.92	1.05
EV/EBITDA	—	—	14.8	—	—	17.7	12.9	12.3	14.7	12.2	13.1
EV/Sales	—	—	9.22	—	—	11	8.11	7.72	9.15	7.76	8.29
Earnings yield	—	—	2.43%	—	—	4.66%	4.41%	2.27%	0.99%	0.95%	0.14%
FCF yield	—	—	6.9%	—	—	6.5%	9.62%	9.97%	3.14%	3.12%	-0.54%
PEG	—	—	—	—	—	—	—	—	—	—	9.21

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	62.6%	64.8%	65.3%	66.2%	66.1%	65.6%	66.1%	66.8%	67.2%	68.4%	68.5%
Operating margin	15%	16.7%	22.5%	21.5%	23.5%	23.6%	23.6%	23.6%	20.4%	22.7%	24.2%
Net margin	30.9%	47.2%	17%	23.2%	32.2%	36.9%	22%	10.4%	5.44%	4.15%	0.63%
ROE	3.19%	7.79%	2.86%	3.45%	5.3%	6.06%	3.6%	1.84%	0.96%	0.88%	0.15%
ROA	1.92%	5.23%	1.95%	2.13%	3.35%	3.82%	2.22%	1.1%	0.53%	0.46%	1.57%
ROIC	1%	—	—	—	—	—	—	—	—	—	—
Return on tangible assets	2.18%	5.74%	2.1%	2.3%	3.54%	4%	2.3%	1.13%	0.55%	0.48%	0.08%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.83	1.59	0.66	1.59	1	0.53	0.46	0.44	0.38	0.54	0.52
Quick ratio	0.83	1.59	0.66	1.59	1	0.53	0.46	0.44	0.38	0.54	0.84
Debt / equity	0.55	0.39	0.38	0.52	0.49	0.5	0.51	0.55	0.65	0.72	0.84
Debt / assets	0.33	0.26	0.26	0.32	0.31	0.31	0.32	0.33	0.36	0.38	0.42
Net debt / EBITDA	7.69	3.5	3.58	5.58	4.75	4.87	4.97	4.97	5.88	5.37	5.93
Interest coverage	-0	2.19	3.05	3.83	4.93	5.16	3.31	1.79	1.38	1.26	1.04
Effective tax rate	0%	—	—	—	—	—	—	—	—	—	—

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.08	4.49	4.52	5.13	4.99	5.08	5.08	5.29	5.58	5.92	6.15
EPS (basic)	1.24	2.08	0.76	1.17	1.6	1.87	1.11	0.55	0.3	0.24	0.24
EPS (diluted)	1.24	2.08	0.76	1.17	1.6	1.87	1.11	0.55	0.3	0.24	0.04
Book value per share	39.6	27.2	26.8	34.6	30.3	30.9	31	30	31.7	28	27.2
FCF per share	1.85	2.04	2.18	2.37	2.37	2.62	2.43	2.43	0.96	0.8	0.95
Cash per share	0.56	1.43	0.02	0.12	0.03	0.06	0.03	0.04	0.05	0.03	0.04
Capex per share	—	—	—	—	—	—	—	—	—	1.59	1.66

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	26.9%	26.5%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	66.4%	63.6%
Payout ratio	303.7%	45.1%	132.7%	93.6%	74%	65.5%	114.8%	231.9%	419.5%	523.1%	3.2K%
Dividend yield	—	—	3.23%	—	—	3.05%	5.06%	5.26%	4.16%	4.99%	4.56%

Yield

4.56%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.32

ex-dividend Jul 6, 2026

Payout ratio

3200%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 6, 2026	$0.32
Apr 7, 2026	$0.32
Jan 5, 2026	$0.32

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$198.8M	$197M	$209.2M	$213M	$209.2M	$225.3M	$250.3M	$240.1M	$248.3M	$255M	$263.1M	$268.5M
YoY change	+1.88%	+1.25%	+3.21%	+4.24%	+5.21%	+14.4%	+19.6%	+12.7%	+18.7%	+13.2%	+5.11%	+11.8%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	35.7M	148.9M	2.5M	15.6M	4.3M	8.9M	5.1M	6M	7.3M	5.7M
Receivables	24.2M	14M	13.4M	23.3M	20.2M	12.6M	8.7M	11.1M	11.5M	17.6M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	118.5M	278.3M	99.6M	504.2M	290.5M	177.6M	197.8M	226.5M	250.9M	354.1M
Property, plant & equipment	-23.1M	-21.9M	-25.2M	-29.1M	23M	19.5M	19.9M	21.2M	20.5M	18.7M
Goodwill & intangibles	491.1M	372.4M	291.8M	515.3M	378.3M	337.1M	272.5M	221.3M	344M	329.5M
Total assets	4.2B	4.2B	4.1B	7.2B	7.1B	7.3B	7.5B	7.6B	8.8B	8.9B
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	142.6M	175.3M	151.4M	316.8M	291.7M	336.2M	432.9M	516.4M	656.3M	660.8M
Long-term debt	1.4B	1.1B	1.1B	2.3B	2.2B	2.3B	2.4B	2.5B	3.1B	3.4B
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	4.9B	4.7B
Total debt	1.4B	1.1B	1.1B	2.3B	2.2B	2.3B	2.4B	2.5B	3.1B	3.4B
Net debt	1.3B	944.3M	1.1B	2.3B	2.2B	2.3B	2.4B	2.5B	3.1B	3.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	6.9M	6M	5.5M	6M	76.1M	7.3M	5.3M	416.8M	4.7M	5.7M	6.3M	6.7M
Receivables	12.9M	11.1M	8.1M	16.3M	11.8M	11.5M	11.2M	10.8M	11.7M	17.6M	15.9M	15.6M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	223.4M	226.5M	231.5M	271.2M	314.2M	250.9M	260.8M	682.8M	280.2M	354.1M	323.9M	522.2M
Property, plant & equipment	18.7M	21.2M	22.6M	22M	21.3M	20.5M	21M	21M	20.4M	18.7M	19.5M	18.1M
Goodwill & intangibles	232.2M	221.3M	211.1M	196.9M	187.4M	344M	330.7M	318.3M	343.4M	329.5M	367.6M	351.8M
Total assets	7.6B	7.6B	7.7B	7.7B	7.8B	8.8B	8.7B	9.1B	8.9B	8.9B	9.1B	9B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	475.5M	516.4M	497.1M	531.1M	566M	656.3M	628.6M	602.1M	642.9M	660.8M	584.7M	625M
Long-term debt	2.5B	2.5B	2.6B	2.6B	2.7B	3.1B	3.1B	3.5B	3.4B	3.4B	3.8B	3.8B
Total liabilities	3B	3.1B	3.2B	3.2B	3.3B	3.9B	3.8B	4.3B	4.1B	4.2B	4.6B	4.5B
Shareholders' equity	4.6B	4.5B	4.5B	4.5B	4.4B	4.9B	4.8B	4.8B	4.8B	4.7B	4.5B	4.5B
Total debt	2.5B	2.5B	2.6B	2.6B	2.7B	3.1B	3.1B	3.5B	3.4B	3.4B	3.8B	3.8B
Net debt	2.5B	2.5B	2.6B	2.6B	2.6B	3.1B	3.1B	3.1B	3.4B	3.4B	3.8B	3.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	80.1M	220M	80.8M	152.7M	238.1M	279M	167.4M	83.8M	46.6M	41.3M
Depreciation & amortization	145.3M	196.7M	181.4M	257.1M	288.6M	288.1M	295.6M	314.9M	365M	415.4M
Stock-based compensation	2.2M	3M	3.4M	3.8M	5.3M	7.5M	10.1M	12M	14.8M	16.5M
Change in working capital	-39.3M	278K	-5.2M	99.1M	-13.1M	15.7M	-7.4M	748K	22.1M	-12.4M
Operating cash flow	165.3M	377.4M	230.4M	469.4M	465.4M	550.4M	423.9M	367.5M	393.9M	402.3M
Capital expenditure	—	—	—	—	—	—	—	—	—	-267.2M
Investing cash flow	-58M	-14.4M	-63.3M	-23.5M	49.2M	2M	-9.1M	-31.4M	-214.7M	-177.8M
Dividends paid	-243.3M	-99.2M	-107.2M	-142.9M	-176.3M	-182.8M	-192.3M	-194.3M	-195.4M	-215.8M
Share repurchases	-13.7M	0	0	—	—	—	—	—	-1.1M	—
Financing cash flow	-1.2B	-892.6M	-155.6M	-891.3M	-824.7M	-1.1B	-636.3M	-326.1M	906.5M	23.7M
Net change in cash	-1.1B	-529.6M	11.5M	-445.4M	-310.1M	-501.4M	-221.5M	10M	1.1B	248.1M
Free cash flow	117.7M	211.6M	229M	303.2M	351.1M	389.5M	365.2M	368.4M	147.5M	135M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	19.5M	18.9M	13.5M	8M	11.4M	13.8M	21.1M	14.7M	8.8M	-3.3M	-24.7M	26.2M
Depreciation & amortization	79.5M	79.4M	86.2M	95.4M	89.8M	93.6M	102.1M	100.9M	105.3M	107.1M	108.4M	104.8M
Stock-based compensation	2.8M	2.8M	4.3M	3.5M	3.4M	3.5M	6M	3.7M	3.4M	3.3M	6M	3.7M
Change in working capital	26.8M	-327K	-61.1M	28.6M	24.3M	30.3M	-64.3M	21.9M	19.3M	10.7M	-67.6M	45.8M
Operating cash flow	116.7M	90.3M	28M	124.7M	115.4M	125.9M	42.1M	120.4M	120.5M	114.5M	40.5M	156.5M
Capital expenditure	—	—	—	—	—	—	—	—	-54.2M	-86.8M	-59.7M	-74M
Investing cash flow	-2.4M	-2.7M	-11.6M	-33.5M	-23.6M	-6.4M	142.1M	-3.4M	-100.7M	-90.1M	-43.4M	-75.8M
Dividends paid	-48.6M	-48.5M	-48.6M	-49.5M	-48.7M	-48.7M	-54.6M	-53.7M	-53.8M	-53.7M	-55.3M	-52.7M
Share repurchases	0	—	-1.1M	0	0	0	-315K	0	0	—	-90M	0
Financing cash flow	-350.4M	-59.1M	162.2M	-27.7M	25.4M	385.7M	-132M	401.5M	-222.6M	-23.6M	284.8M	-119.7M
Net change in cash	-236.1M	28.6M	178.5M	63.5M	117.2M	505.2M	52.2M	518.5M	-202.7M	684K	281.8M	-39M
Free cash flow	116.4M	90.8M	28.3M	197.8M	253.5M	-123.7M	-9.6M	50.6M	-181.5M	275.5M	-19.2M	82.5M

Date	Ratio
Jun 17, 2019	1:4
Oct 7, 2016	1417:1000
Oct 3, 2000	3:2
May 29, 1987	3:2
May 28, 1986	3:2
Jun 19, 1984	5:4
Jun 21, 1983	5:4
Mar 30, 1981	5:4
May 27, 1980	5:4

Cousins Properties Incorporated Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history