CAMDEN PROPERTY TRUST CPT
Formed on May 25, 1993, Camden Property Trust, a Texas real estate investment trust ("REIT"), and all consolidated subsidiaries are primarily engaged in the ownership, management, development, reposition, redevelopment, acquisition, and construction of multifamily apartment communities. Unless the context requires otherwise, "we," "our," "us," and the "Company" refer to Camden Property Trust and its consolidated subsidiaries. Our multifamily apartment communities are referred to as "communities," "multifamily communities," "properties," or "multifamily properties" in the following discussion.
As of December 31, 2025, we owned interests in, operated, or were developing 175 multifamily properties comprised of 59,921 apartment homes across the United States. Of the 175 properties, three properties were under construction and will consist of a total of 1,162 apartment homes when completed. We also own land holdings which we may develop into multifamily communities in the future.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.0M | $7.1M | $3.5M | $5.2M | $10.5M | $10.8M | $8.7M | $7.2M | $8.2M | $876.4M |
| Cost of revenue | $566.7M | $558.8M | $548.9M | $498.1M | $417.0M | $394.8M | $366.3M | $343.6M | $328.7M | — |
| Gross profit | -$553.7M | -$551.7M | -$545.5M | -$492.9M | -$406.5M | -$384.0M | -$357.7M | -$336.3M | -$320.6M | — |
| SG&A | $79.3M | $72.4M | $62.5M | $60.4M | $59.4M | $53.6M | $53.2M | $50.7M | $50.6M | $47.4M |
| Interest expense | $138.2M | $129.8M | $133.4M | $113.4M | $97.3M | $91.5M | $80.7M | $84.3M | $86.8M | $93.1M |
| Pre-tax income | $388.5M | $166.2M | $407.0M | — | — | — | — | — | — | — |
| Income tax | $4.0M | $2.9M | $3.7M | — | — | — | — | — | — | — |
| Net income | $384.5M | $163.3M | $403.3M | $653.6M | $303.9M | $123.9M | $219.6M | $156.1M | $196.4M | $819.8M |
| EPS, basic | 3.54 | 1.50 | 3.71 | 6.07 | 2.97 | 1.24 | 2.23 | 1.63 | 2.14 | 9.08 |
| EPS, diluted | 3.54 | 1.50 | 3.70 | 6.04 | 2.96 | 1.24 | 2.22 | 1.63 | 2.13 | 9.05 |
| Shares, diluted (wtd. avg.) | $108.4M | $108.5M | $109.4M | $108.4M | $102.8M | $99.4M | $99.4M | $95.4M | $92.5M | $89.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $25.2M | $21.0M | $259.7M | $17.4M | $619.0M | $424.5M | $27.5M | $43.6M | $377.8M | $245.8M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $100.0M |
| Total assets | $9.04B | $8.85B | $9.38B | $9.33B | $7.98B | $7.20B | $6.75B | $6.22B | $6.17B | $6.03B |
| Long-term debt | $3.90B | $3.49B | $3.72B | $3.68B | $3.17B | $3.17B | $2.52B | $2.32B | $2.20B | $2.48B |
| Total liabilities | $4.60B | $4.10B | $4.33B | $4.27B | $3.71B | $3.68B | $3.05B | $2.78B | $2.61B | $2.86B |
| Total equity | $4.36B | $4.68B | $5.05B | $5.06B | $4.27B | $3.52B | $3.70B | $3.39B | $3.48B | $3.10B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $826.6M | $774.9M | $795.0M | $744.7M | $577.5M | $519.3M | $555.6M | $503.7M | $434.7M | $443.1M |
| Depreciation and amortisation | $611.0M | $582.0M | $574.8M | $577.0M | $420.7M | $367.2M | $336.3M | $300.9M | $264.0M | $250.1M |
| Stock-based compensation | $17.0M | $15.2M | $14.5M | $12.8M | $15.4M | $13.9M | $15.2M | $16.7M | $17.5M | $20.1M |
| Investing cash flow | -$499.5M | -$285.2M | -$127.1M | -$1.46B | -$804.4M | -$429.6M | -$792.4M | -$640.9M | -$189.8M | $690.4M |
| Financing cash flow | -$322.0M | -$725.5M | -$417.2M | $109.9M | $421.4M | $307.3M | $220.7M | -$197.0M | -$112.9M | -$904.2M |
| Dividends paid | $460.9M | $451.0M | $434.9M | $396.8M | $343.0M | $333.4M | $317.3M | $298.0M | $280.8M | $663.4M |
| Buybacks | $270.7M | $50.0M | $0 | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-007697.
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