Cousins Properties Inc key statistics and ratios
In fiscal 2025, Cousins Properties Inc had return on equity of 0.9%, an operating margin of 67.8% and debt equal to 71.7% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | 62.6% | 64.8% | 65.3% | 66.2% | 66.1% | 65.6% | 66.1% | 66.8% | 67.2% | 68.4% | 68.4% |
| Operating margin | — | — | — | — | 65.5% | 121.5% | 118.0% | 100.4% | 67.2% | 68.6% | 65.7% | 65.7% | 65.4% | 65.9% | 66.1% | 66.6% | 67.8% | 68.3% |
| Net margin | 13.4% | −9.4% | −108.7% | 33.4% | 57.8% | 29.3% | 61.4% | 30.5% | 46.4% | 16.7% | 22.9% | 32.0% | 36.9% | 21.9% | 10.3% | 5.4% | 4.1% | 1.4% |
| Free-cash-flow margin | — | — | — | — | — | — | — | — | — | — | — | — | — | 3.0% | 11.1% | 17.2% | 13.6% | — |
| Return on equity | 3.3% | −1.8% | −18.8% | 7.5% | 11.7% | 3.3% | 7.5% | 3.8% | 8.3% | 2.9% | 4.2% | 5.4% | 6.2% | 3.6% | 1.8% | 1.0% | 0.9% | 0.3% |
| Return on assets | 1.8% | −1.0% | −9.9% | 3.9% | 7.2% | 2.1% | 4.8% | 2.3% | 5.2% | 1.9% | 2.7% | 3.3% | 3.9% | 2.2% | 1.1% | 0.6% | 0.5% | 0.2% |
| Asset turnover | 0.14 | 0.11 | 0.09 | 0.12 | 0.12 | 0.07 | 0.08 | 0.08 | 0.11 | 0.11 | 0.12 | 0.10 | 0.10 | 0.10 | 0.11 | 0.10 | 0.11 | 0.12 |
| Debt to equity | 0.0% | 67.0% | 89.4% | 68.6% | 43.2% | 47.3% | 42.8% | 56.2% | 39.6% | 38.6% | 51.0% | 48.4% | 49.1% | 50.6% | 54.4% | 64.2% | 71.7% | 81.0% |
| Interest cover (operating income ÷ interest) | — | — | — | — | 6.4x | 10.3x | 10.6x | 9.8x | 9.3x | 8.3x | 8.0x | 8.0x | 7.4x | 6.9x | 5.0x | 4.7x | 4.2x | 4.0x |
| Effective tax rate | — | — | — | — | — | — | 0.0% | — | — | — | — | — | — | — | — | — | — | — |
| Capital spending as % of revenue | — | — | — | — | — | — | — | — | — | — | — | — | — | 44.9% | 34.8% | 29.5% | 26.9% | — |
| Free cash flow ÷ net income | — | — | — | — | — | — | — | — | — | — | — | — | — | 13.7% | 107.1% | 320.9% | 333.4% | — |
| Dividends ÷ net income | 83.2% | — | — | 41.0% | 22.3% | 118.4% | 55.1% | 63.9% | 45.8% | 135.4% | 95.0% | 74.3% | 65.6% | 115.3% | 234.3% | 425.2% | 532.8% | >999% |
| Dividends and buybacks ÷ free cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | 838.7% | 218.8% | 132.5% | 159.8% | — |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 67.6% | 69.2% | 69.1% | 67.8% | 67.4% | 68.6% | 68.5% | 69.1% |
| Operating margin | 65.8% | 66.0% | 69.4% | 68.1% | 67.5% | 68.4% | 67.9% | 69.5% |
| Net margin | 6.1% | 8.3% | 6.0% | 3.5% | −1.4% | −9.4% | 9.7% | 6.6% |
| Debt to equity | 63.9% | 62.8% | 72.8% | 69.9% | 71.4% | 83.6% | 83.2% | 80.5% |
Moat
Moderate moat
How hard Cousins Properties's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 0 / 20
Net income has been a median 1.5% of total assets over 10 years.
- Pricing power 20 / 20
Gross margin has been a median 66.2%, moving by 1.1 percentage points (standard deviation) across 9 years.
- Durability 20 / 20
Operating margin has been a median 66.9%; its worst year was 65.3%.
- Cash conversion 11 / 20
Free cash flow was positive in 8 of 10 years, at a median 5.8% of revenue.
- Discipline 13 / 20
The diluted share count rose 12.0% over five years; stock-based pay has been a median 1.3% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
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