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Copt Defense Properties vs Empire State Realty OP, L.p.

Copt Defense Properties and Empire State Realty OP, L.p. are similar in size: $764m and $768m of revenue in their latest fiscal years. Copt Defense Properties grew faster (1.4% against 0.0%). Copt Defense Properties kept more of each dollar of sales as profit: a net margin of 19.9% against 9.0%.

Latest fiscal yearCopt Defense PropertiesCDP, 2025Empire State Realty OP, L.p.ESBA, 2025
Revenue $764m $768m
Revenue growth 1.4% 0.0%
Net income $152m $68.8m
Operating margin — 17.7%
Net margin 19.9% 9.0%
Return on equity 10.1% —
Free cash flow $289m $50.6m
Cash $275m $133m
Total debt $2.79bn $2.39bn
Debt to equity 184.3% —
Dividend per share $1.22 —
Dividend yield 3.7% 3.0%
Share buybacks — $8.1m
Employees 430 407
Market value $3.75bn $1.33bn
Price vs our value range — —
Moat score 67 (Moderate) 40 (Weak)
Insider trades, 12 months 0 buys, 3 sales 0 buys, 0 sales

Each figure is from the company's latest annual report and links to the page it comes from. Fiscal years can end on different dates. Market value and the value verdict use the delayed price shown on the stock pages. Not a recommendation.

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Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.