Explain this page
Arphra AIPlain-English read on CBL & Associates Properties, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Headline | |||||||
| Market cap | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — |
| Multiples | |||||||
| P / E | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — |
| Yields | |||||||
| Earnings yield | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross margin | -4.81% | -25.10% | -6.14% | +11.49% | +7.56% | +4.30% | +4.34% |
| Operating margin | +22.06% | +8.33% | +17.44% | +25.67% | +24.17% | +4.30% | +4.36% |
| EBITDA margin | -29.12% | +67.00% | +68.73% | +68.63% | +82.37% | +71.35% | +73.78% |
| EBIT margin | -65.19% | +21.47% | +33.14% | +41.36% | +53.82% | +42.55% | +41.59% |
| Pre-tax margin | -111.63% | -17.13% | +0.77% | +11.28% | +23.34% | +11.76% | +12.05% |
| Net margin | -107.85% | -16.60% | +1.22% | +11.44% | +23.51% | +4.32% | +4.30% |
| Cost structure | |||||||
| Cost of revenue / sales | +104.81% | +125.10% | +106.14% | +88.51% | +92.44% | +97.12% | +95.41% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Effective tax rate | — | — | +21.82% | +1.81% | +0.35% | +8.26% | +8.05% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| Return on equity (ROE) | -155.12% | -25.46% | +1.98% | +18.85% | +37.28% | +6.87% | +6.82% |
| Return on assets (ROA) | -21.12% | -3.49% | +0.27% | +2.15% | +4.98% | +0.88% | +0.89% |
| Return on capital (ROC) | +4.61% | +1.89% | +4.06% | +5.24% | +5.51% | +0.96% | +0.96% |
| Return on invested capital (ROIC) | +3.46% | +1.42% | +0.28% | +2.33% | +5.36% | +0.97% | +0.95% |
| Asset turnover | +19.58% | +21.02% | +22.25% | +18.77% | +21.19% | +20.43% | +20.68% |
| DuPont · ROE decomposition | |||||||
| Net margin | -107.85% | -16.60% | +1.22% | +11.44% | +23.51% | +4.32% | +4.30% |
| Asset turnover (× revenue / assets) | +19.58% | +21.02% | +22.25% | +18.77% | +21.19% | +20.43% | +20.68% |
| Equity multiplier (× assets / equity) | +734.47% | +729.51% | +727.70% | +878.08% | +748.37% | +777.97% | +768.27% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Turnover | |||||||
| Asset turnover | 0.20 | 0.21 | 0.22 | 0.19 | 0.21 | 0.20 | 0.21 |
| Fixed-asset turnover | — | — | — | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — |
| Receivables turnover | 2.18 | 2.61 | 11.59 | 10.75 | 12.04 | — | — |
| Payables turnover | — | — | — | — | — | — | — |
| Days outstanding | |||||||
| Days sales outstanding (DSO) | 167.21 | 139.88 | 31.49 | 33.95 | 30.32 | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | — | — | — | — | — | — | — |
| Cash conversion cycle | 167.21 | 139.88 | 31.49 | 33.95 | 30.32 | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Operating CF / Net income | -0.06 | -2.23 | 28.03 | 3.43 | 0.53 | 6.64 | 6.78 |
| FCF / Net income | -0.06 | -2.23 | 28.03 | 3.43 | 0.53 | 6.78 | 6.52 |
| FCF margin | +6.72% | +36.99% | +34.28% | +39.22% | +12.41% | +29.30% | +28.01% |
| OCF margin | +6.72% | +36.99% | +34.28% | +39.22% | +12.41% | +28.72% | +29.12% |
| CapEx / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| CapEx / D&A | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
| Stock-based comp / Revenue | 0.00% | +2.11% | +2.43% | +2.90% | 0.00% | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| EPS · diluted | -29.95 | -3.20 | 0.17 | 1.87 | 4.34 | 3.24 | 0.00 |
| EPS · basic | -29.95 | -3.20 | 0.17 | 1.87 | 4.41 | 3.25 | 0.00 |
| Book value / share | 2.40 | 12.22 | 10.56 | 10.10 | 11.82 | 11.88 | 11.79 |
| Tangible BV / share | -0.53 | 2.67 | 0.47 | -1.12 | 2.98 | 11.88 | 11.79 |
| Sales / share | 3.45 | 18.74 | 17.10 | 16.65 | 18.75 | 18.88 | 18.73 |
| Operating CF / share | 0.23 | 6.93 | 5.86 | 6.53 | 2.33 | 5.42 | 5.45 |
| Free cash flow / share | 0.23 | 6.93 | 5.86 | 6.53 | 2.33 | 5.53 | 5.25 |
| Dividends / share | 0.00 | 0.79 | 3.77 | 1.63 | 2.50 | 2.87 | 2.90 |
| Payout ratio | 0.00% | -25.54% | +1804.05% | +85.39% | +56.70% | +352.13% | +360.25% |
| Retention ratio | +100.00% | +125.54% | -1704.05% | +14.61% | +43.30% | -252.13% | -260.25% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 6y CAGR |
|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||
| Revenue · YoY | — | -2.40% | -4.92% | -3.68% | +12.18% | +1.32% | -0.72% | +0.14% |
| Gross profit · YoY | — | -409.75% | +76.75% | +280.23% | -26.21% | -42.35% | +0.23% | — |
| Profit | ||||||||
| Operating income · YoY | — | -63.13% | +98.96% | +41.76% | +5.61% | -81.96% | +0.62% | -23.57% |
| EBITDA · YoY | — | +324.57% | -2.46% | -3.83% | +34.64% | -12.23% | +2.66% | — |
| Net income · YoY | — | +84.97% | +107.00% | +800.86% | +130.57% | -81.37% | -1.37% | — |
| Operating | ||||||||
| EBIT · YoY | — | +132.15% | +46.74% | +20.20% | +45.96% | -19.89% | -2.95% | — |
| R&D · YoY | — | — | — | — | — | — | — | — |
| Per-share | ||||||||
| EPS · diluted · YoY | — | +89.32% | +105.31% | +1000.00% | +132.09% | -25.35% | -100.00% | — |
| EPS · basic · YoY | — | +89.32% | +105.31% | +1000.00% | +135.83% | -26.40% | -100.00% | — |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E |
|---|---|---|---|---|---|---|---|
| Leverage | |||||||
| Total debt | $2.36B | $2.11B | $1.97B | $2.21B | $2.17B | $2.25B | $2.26B |
| Net debt | $2.19B | $2.07B | $1.94B | $2.17B | $2.13B | $2.21B | $2.22B |
| Net debt / EBITDA | -13.04 | 5.48 | 5.26 | 6.14 | 4.47 | 5.29 | 5.18 |
| Debt / equity | 5.89 | 5.75 | 5.96 | 7.07 | 5.95 | 6.12 | 6.18 |
| Debt / assets | +80.13% | +78.81% | +81.85% | +80.54% | +79.54% | +78.62% | +80.50% |
| Equity / assets | +13.62% | +13.71% | +13.74% | +11.39% | +13.36% | +12.85% | +13.02% |
| Coverage | |||||||
| EBITDA / interest expense | — | 1.74 | 2.13 | 2.29 | 2.71 | 2.26 | 2.40 |
| Operating income / interest | — | 0.22 | 0.54 | 0.86 | 0.79 | 0.14 | 0.14 |
| Interest expense | $0 | $217.34M | $172.91M | $154.49M | $175.96M | $185.06M | $179.06M |
| Liquidity | |||||||
| Current ratio | 3.17 | 3.25 | 2.31 | 2.26 | 2.55 | — | — |
| Quick ratio | 3.17 | 2.76 | 1.84 | 1.50 | 1.98 | — | — |
| Cash ratio | 0.92 | 0.22 | 0.18 | 0.18 | 0.22 | — | — |
| Working capital | $399.42M | $449.82M | $244.92M | $279.26M | $300.45M | — | — |
| Working capital / revenue | +69.24% | +79.90% | +45.76% | +54.17% | +51.95% | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).