CBL & ASSOCIATES PROPERTIES INC · REIT (real estate trust)

CBL

Low riskNext report: Around Nov 6 (est.)

View price ↗

The short version

A profitable company with steady sales. Institutions are adding.

Going well

Profitable, keeps 24% of sales as profit
Sales up 12% last year
Brings in more cash than it spends

Watch out for

High debt: 5.79x equity

Money moves

Insiders sold $68.2M in the last 30 days
Institutions added 3.1% to their holdings in the quarter ending June 2026 (146 bought, 64 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$49.75-0.3% that day

Company value: $1.5B; Share price times all shares
Price vs profit (P/E): 7.2x; You pay about $7 for each $1 of yearly profit
Price vs sales: 2.6x; Company value is 2.6 times a year of sales
Cash vs value: 7%; Cash as a share of company value
Debt vs value: 141%; Owes more than the whole company is worth

From CBL's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$146.5M+4.0% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $588.1M, up 9.0% from the 12 months before. Over 5 years, sales grew about 0.1% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of CBL. Starting points are the company's recent numbers.

Sales growth+9% a yearRecently: +9.0% a yearProfit margin37%Last 12 months: 37.0%P/E at the end8xToday: 7.2x. Many steady companies trade at 12x to 25xShare count change+1% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$905M

Profit in 5 years$335M

Price these guesses point to$82.37+66% vs $49.75 todayAbout +11% a year, before dividends

What today's price needs: with a 37% margin and a 8x P/E, sales could shrink about 1.5% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

PassReturn on equity 15%+Earns a lot on the money owners have in the business.38.9%
MissDebt under half of equityNot relying on borrowed money.5.79x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.23.5%
MissProfitable every yearSteady profits, not one good year.5 of 9 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$249.7M
MissShare count not growingNot diluting owners. Falling means buybacks.+2.6% in 3 years

Revenue: $578.4M; +12.2% vs prior year
5-year growth: +0.1%/yr; revenue, per year
Total debt: $2.2B; 5.79x equity
Free cash flow: $249.7M; 43.2% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 7

Revenue: $146.5M; +4.0% YoY
EPS: $1.47; vs $0.08
Free cash flow: $80.3M
Share count: +0.6%; vs a year ago

Insider rating

Last 90 days

23Selling

2 insiders sold $68.6M (not pre-planned)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 1.3
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+3.1%

Institutions added 3.1% to their holdings. 146 bought, 64 sold.

Shares held by institutions24.6M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-1.2%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

4.8x · $2.0B debt

Shares outstandingLatest reported

31M

Why low risk

High debt: 4.76x equity

Earnings reports

Last 12

Next reportAround Nov 6 (est.)Estimated from the same quarter last year

Results filedAug 7
Results filedMay 8
Results filedFeb 13
Results filedNov 7, 2025
Results filedAug 6, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (active)Oct 8 · View filing ↗Activist 5%+ holder update (active)Aug 28 · View filing ↗Activist

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$68.6M2 insiders, 0 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
CANYON CAPITAL ADVISORS LLCInsider	Sell	1M	$52.19	$68.2M	6M	Oct 6Filing ↗
-17.6% of their holdings Held See footnotes Not a pre-planned sale Filed jointly with 2 others Filed 2 days after
Jennifer CopeEVP Ops Services & Risk Mgmt	Sell	7K	$52.00	$352K	24K	Sep 24Filing ↗
-22% of their holdings Not a pre-planned sale Filed 1 day after