Camden Property Trust

CPT · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993
Valuation
Market cap	$11,712	$12,379	$10,601	$11,918	$18,261	$10,212	$10,843	$8,998	$9,408	$8,592	$7,845	$6,504	$4,960	$5,714	$4,528	$3,703	$2,642	$1,732	$2,799	$4,184	$3,012	$2,113	$1,743	$1,335	$1,461	$1,277	$1,144	$1,071	$814	$425	$338	$306	$227
Enterprise value	$15,663	$15,916	$14,128	$15,659	$20,886	$13,029	$13,417	$11,359	$11,324	$10,816	$10,635	$9,167	$7,542	$8,261	$6,974	$6,168	$3,687	$4,745	$5,846	$6,738	$5,864	$3,847	$3,446	$2,962	$2,868	$2,620	$2,501	$2,139	$1,352	$667	$618	$503	$333
P/E (TTM) at period end	30.53×	75.95×	26.33×	18.26×	60.19×	82.58×	49.49×	58.05×	48.06×	10.56×	31.73×	22.47×	14.89×	20.36×	92.74×	161.36×	–	21.12×	18.86×	17.97×	15.85×	51.11×	59.24×	17.89×	23.83×	17.16×	18.57×	18.67×	21.18×	48.79×	27.52×	32.24×	64.74×
P/S (TTM) at period end	903.22×	1734.52×	3071.95×	2297.29×	1733.82×	945.51×	1246.91×	1244.43×	10.44×	9.80×	9.39×	8.23×	6.29×	8.18×	7.55×	6.52×	4.38×	2.87×	5.41×	6.81×	5.22×	5.96×	5.53×	4.03×	4.24×	3.71×	3.62×	3.93×	4.51×	4.50×	4.05×	4.59×	13.90×
P/B at period end	2.68×	2.65×	2.13×	2.39×	4.35×	2.96×	2.99×	2.72×	2.76×	2.85×	2.79×	2.31×	1.84×	2.23×	2.57×	2.20×	1.73×	1.23×	1.83×	2.41×	2.20×	2.86×	2.22×	1.59×	1.59×	1.31×	1.13×	0.91×	1.15×	1.44×	1.25×	1.10×	1.27×
EV / EBITDA (TTM)	17.41×	18.10×	15.72×	18.68×	32.29×	22.54×	22.87×	21.14×	22.64×	21.82×	22.74×	21.03×	16.69×	20.48×	20.92×	20.12×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	1207.94×	2230.05×	4093.91×	3018.29×	1983.13×	1206.43×	1542.90×	1570.93×	12.57×	12.34×	12.73×	11.60×	9.56×	11.83×	11.64×	10.86×	6.12×	7.87×	11.29×	10.97×	10.17×	10.85×	10.94×	8.95×	8.34×	7.61×	7.92×	7.86×	7.50×	7.07×	7.40×	7.55×	20.41×
Returns
Return on equity	8.8%	3.5%	8.1%	13.1%	7.2%	3.6%	6.0%	4.7%	5.7%	27.0%	8.8%	10.3%	12.4%	10.9%	2.8%	1.4%	(3.3%)	5.8%	9.7%	13.4%	13.9%	5.6%	3.7%	8.9%	6.7%	7.6%	6.1%	4.9%	5.4%	2.9%	4.6%	3.4%	2.0%
Return on invested capital	3.4%	3.6%	3.8%	3.0%	3.3%	3.3%	4.0%	4.1%	4.4%	4.6%	4.0%	3.9%	4.3%	3.8%	3.2%	2.6%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Dividend yield	3.9%	3.6%	4.1%	3.3%	1.9%	3.3%	2.9%	3.3%	3.0%	7.7%	3.2%	3.6%	4.4%	3.3%	3.4%	3.7%	5.8%	9.9%	6.4%	4.0%	4.9%	5.9%	7.0%	9.2%	8.2%	8.8%	9.5%	8.3%	6.8%	6.5%	7.7%	6.4%	1.1%
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Debt / equity	0.89×	0.75×	0.75×	0.75×	0.76×	0.92×	0.70×	0.70×	0.65×	0.82×	0.97×	0.97×	0.94×	0.98×	1.38×	1.52×	1.72×	2.01×	3.69×	1.34×	1.92×	2.13×	1.92×	1.70×	1.31×	1.17×	1.15×	0.86×	0.68×	0.83×	0.87×	0.71×	0.63×
Effective tax rate	1.0%	1.7%	0.9%	0.4%	0.6%	1.5%	0.5%	0.9%	0.6%	0.4%	0.8%	0.6%	1.2%	(0.8%)	11.3%	17.4%	(1.6%)	(46.6%)	6.8%	88.0%	(21.7%)	7.2%	33.7%	(31.4%)	21.1%	17.1%	–	–	–	–	111.9%	–	–
Share count
Diluted shares outstanding	108	109	109	108	103	99	99	95	93	90	89	88	88	86	73	69	62	55	59	60	56	42	41	44	42	41	44	44	28	15	14	12	9

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993
Revenue and gross profit
Revenue	$13	$13	$7	$3	$5	$11	$11	$9	$7	$901	$876	$836	$790	$789	$698	$599	$568	$603	$603	$518	$614	$577	$355	$315	$331	$344	$344	$316	$272	$180	$94	$84	$67	$16
Cost of revenue	–	($567)	($559)	($549)	($498)	($417)	($395)	($366)	($344)	($329)	($340)	($202)	($211)	($313)	($186)	($257)	($164)	($247)	($239)	–	($458)	–	–	–	–	–	–	–	–	–	–	–	–	–
Gross profit	–	($554)	($552)	($545)	($493)	($406)	($384)	($358)	($336)	$572	$536	$641	$643	$476	$525	$343	$413	$400	$364	–	$156	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($77)	($79)	($72)	($63)	($60)	($59)	($54)	($53)	($51)	($51)	($47)	($46)	($51)	($41)	($38)	($35)	($31)	($31)	($32)	($218)	($227)	($195)	($158)	($149)	($136)	($129)	($127)	($119)	($105)	($75)	($43)	($39)	($32)	($1)
Total operating expenses	–	$843	$849	$869	$754	$633	$595	$608	$573	($336)	($291)	($414)	($429)	($245)	($331)	($191)	($280)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total costs and expenses	$267	$276	$290	$320	$256	$216	$200	$242	$229	($665)	($631)	($609)	($576)	($558)	($505)	($448)	($436)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating income	$280	$289	$297	$324	$261	$226	$211	$250	$236	$236	$245	$227	$214	$230	$194	$152	$132	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Earnings
EBITDA	$897	$900	$879	$899	$838	$647	$578	$587	$537	$500	$496	$468	$436	$452	$403	$333	$307	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest income	$1	$0	$4	$1	$3	$1	$3	$3	$2	$3	$2	$1	$1	$1	($1)	$5	$9	$3	$5	$9	$10	$7	$11	$6	–	–	–	–	–	–	–	–	–	$1
Interest expense	($148)	($138)	($130)	($133)	($113)	($97)	($92)	($81)	($84)	($87)	($93)	($97)	($95)	($100)	($104)	($112)	($126)	($128)	($132)	($116)	($118)	($112)	($78)	($75)	($71)	($70)	($69)	($58)	($50)	($29)	($17)	($14)	($9)	($1)
Pre-tax income	$341	$399	$174	$414	$664	$314	$131	$225	$162	$202	$457	$240	$303	$157	$160	$20	$9	($61)	($2)	$45	$233	$152	$45	$44	$56	$78	$90	$72	$59	$40	$9	$12	$10	–
Income tax expense	($4)	($4)	($3)	($4)	($3)	($2)	($2)	($1)	($1)	($1)	($2)	($2)	($2)	($2)	$1	($2)	($2)	($1)	($1)	($3)	($205)	$33	($3)	($15)	$17	($16)	($15)	–	–	–	–	($14)	–	($1)
Net income	$326	$384	$163	$403	$654	$304	$124	$220	$156	$196	$820	$249	$292	$336	$283	$49	$31	($51)	$82	$148	$233	$190	$41	$29	$75	$61	$74	$62	$57	$38	$9	$12	$10	$4
Per share
Diluted EPS (GAAP)	$3.01	$3.54	$1.50	$3.70	$6.04	$2.96	$1.24	$2.22	$1.63	$2.13	$9.05	$2.76	$3.27	$3.78	$3.30	$0.66	$0.33	($0.80)	$1.28	$2.31	$3.91	$3.58	$0.97	$0.71	$1.73	$1.41	$1.63	$1.23	$1.12	$1.36	$0.58	$0.85	$0.77	$0.39
Basic EPS (GAAP)	$3.02	$3.54	$1.50	$3.71	$6.07	$2.97	$1.24	$2.23	$1.63	$2.14	$9.08	$2.77	$3.29	$3.82	$3.35	$0.67	$0.33	($0.80)	$1.28	$2.35	$4.11	$3.83	$1.00	$0.75	$1.84	$1.48	$1.71	$1.27	$1.16	$1.46	$0.59	$0.86	$0.77	$0.39
Basic shares outstanding	106	108	108	109	108	102	99	98	95	91	90	89	88	87	84	73	69	62	55	58	57	52	41	39	40	40	38	41	41	26	15	14	12	9
Margins
Gross margin	–	(4270.4%)	(7729.7%)	(15806.1%)	(9500.6%)	(3859.6%)	(3555.8%)	(4112.8%)	(4651.5%)	63.5%	61.2%	76.7%	81.3%	60.3%	75.2%	57.2%	72.6%	66.3%	60.4%	–	25.4%	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating margin	2135.8%	2228.0%	4165.1%	9383.3%	5036.9%	2147.6%	1952.5%	2878.2%	3269.9%	26.2%	28.0%	27.1%	27.1%	29.2%	27.7%	25.3%	23.3%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Net margin	2486.2%	2964.9%	2288.0%	11686.7%	12598.6%	2885.6%	1147.3%	2525.6%	2159.1%	21.8%	93.5%	29.8%	37.0%	42.6%	40.6%	8.2%	5.5%	(8.4%)	13.6%	28.7%	37.9%	32.9%	11.7%	9.3%	22.5%	17.8%	21.6%	19.5%	21.1%	21.3%	9.2%	14.7%	14.2%	21.5%

Analyst consensus

Hold41 analysts

Bearish · 3 · Hold · 20 · Bullish · 18

Earnings history

	EPS	Estimate
Q3 2024	$0.34	$0.36	Miss
Q4 2024	$0.37	$0.39	Miss
Q1 2025	$0.36	$1.68	Miss
Q2 2025	$0.74	$0.33	Beat
Q3 2025	$1.00	$0.29	Beat
Q4 2025	$1.44	$0.34	Beat
Q1 2026	$0.40	$0.28	Beat
Q2 2026	$0.18	$0.31	Miss

Peers

Company overview

IPO dateJul 22, 1993

CEOAlexander J. K. Jessett

Employees1,640

SectorReal Estate

IndustryREIT - Residential

CountryUS

ExchangeNew York Stock Exchange

Websitewww.camdenliving.com

Camden Property Trust, an S&P 400 listed entity, specializes in real estate, primarily through the ownership, operation, development, renovation, purchase, and building of multi-family residential complexes. Currently, Camden possesses stakes in and manages 167 properties housing 56,850 apartment units throughout the United States. With seven additional properties presently under construction, the company's total portfolio will expand to 174 properties offering 59,104 apartment homes. Camden has earned consistent recognition for its workplace culture, being named one of FORTUNE magazine's "100 Best Companies to Work For®" for 13 straight years, most recently achieving the #18 spot. Furthermore, in 2020, it secured the #25 position among large U.S. companies in the Glassdoor Employees' Choice Award.

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