# CBL & Associates Properties (CBL.US)

Canonical: https://gigainvestors.com/s/CBL

Analysis as of: 2026-10-16T07:27:15.922Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: $48.84 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

## Price story

Up 136% since Oct 2023 · "CBL Stock Up Post Q1 Earnings on Refinancing and Leasing Strength" (finance.yahoo.com, May 2026)

Story as of 2026-10-16T09:58:28.040Z; price observation 2026-10-15.

- 2026-02-19: CBL Stock Gains Following Q4 Earnings, Same-Center NOI Rises ([finance.yahoo.com](https://finance.yahoo.com/news/cbl-stock-gains-following-q4-161400997.html))

- 2026-05-14: CBL Stock Up Post Q1 Earnings on Refinancing and Leasing Strength ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/cbl-stock-post-q1-earnings-143100887.html))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in property rentals; annual sales are USD 578.4 million.

- Source: https://www.sec.gov/Archives/edgar/data/910612/000119312526087049/cbl-20251231.htm (filed 2026-03-03); FY2025: revenue 578373000; grossProfit 43708000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); CBL.US: CBL & Associates Properties, Inc. is headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's owned and managed portfolio is comprised of 88 properties totaling 54.5 million square feet across 23 states, including 54 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 20 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. CBL & Associates Properties, Inc. was established in 1978n and was incorporated in Delaware.

### Where the cash goes

Spends 42.6% of cash earnings on expansion; paid dividends in 5 of 5 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-03); FY2022: growth capex 0; upkeep 5766000; owner earnings 177860000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-03); FY2023: growth capex 0; upkeep 2663000; owner earnings 215813000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-03); FY2024: growth capex 0; upkeep 36192000; owner earnings 163369000. Growth capex / owner earnings = 0.

- Source: https://www.sec.gov/Archives/edgar/data/910612/000119312526087049/cbl-20251231.htm (filed 2026-03-03); FY2025: growth capex 57969000; upkeep 179794000; owner earnings 135967000. Growth capex / owner earnings = 0.4263460986857105.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-03); Dividend observations: [[2021,151545000],[2022,23873000],[2023,118093000],[2024,50357000],[2025,77095000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://www.sec.gov/Archives/edgar/data/910612/000119312526087049/cbl-20251231.htm (filed 2026-03-03); FY2025: cash repurchases 18059000 USD.

### Are managers owners

Insiders own 12% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); CBL.US SharesStats.PercentInsiders = 12.001000000000001 percentage points; cache date 2026-10-15.

### What the price says

The price is 2.6 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-03); Closing price 48.84 USD; reporting-to-trading FX 1; FY2025 annual sales per share 18.753380240588825; price multiple 2.604330492605983. FY2025 cash earnings/share 4.408644337083752. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2021-11: $30.97 per share

- 2021-12: $31.20 per share

- 2022-01: $30.16 per share

- 2022-02: $28.51 per share

- 2022-03: $32.89 per share

- 2022-04: $29.31 per share

- 2022-05: $28.26 per share

- 2022-06: $23.49 per share

- 2022-07: $30.79 per share

- 2022-08: $28.94 per share

- 2022-09: $25.61 per share

- 2022-10: $28.73 per share

- 2022-11: $30.50 per share

- 2022-12: $23.08 per share

- 2023-01: $26.65 per share

- 2023-02: $25.55 per share

- 2023-03: $25.64 per share

- 2023-04: $23.13 per share

- 2023-05: $23.06 per share

- 2023-06: $22.04 per share

- 2023-07: $21.77 per share

- 2023-08: $21.39 per share

- 2023-09: $20.98 per share

- 2023-10: $20.73 per share

- 2023-11: $23.50 per share

- 2023-12: $24.42 per share

- 2024-01: $23.38 per share

- 2024-02: $23.06 per share

- 2024-03: $22.91 per share

- 2024-04: $21.75 per share

- 2024-05: $22.10 per share

- 2024-06: $23.38 per share

- 2024-07: $25.77 per share

- 2024-08: $26.40 per share

- 2024-09: $25.20 per share

- 2024-10: $26.45 per share

- 2024-11: $30.90 per share

- 2024-12: $29.41 per share

- 2025-01: $30.61 per share

- 2025-02: $31.18 per share

- 2025-03: $26.58 per share

- 2025-04: $23.47 per share

- 2025-05: $25.21 per share

- 2025-06: $25.39 per share

- 2025-07: $27.06 per share

- 2025-08: $31.85 per share

- 2025-09: $30.58 per share

- 2025-10: $29.57 per share

- 2025-11: $33.42 per share

- 2025-12: $37.00 per share

- 2026-01: $35.80 per share

- 2026-02: $37.78 per share

- 2026-03: $38.43 per share

- 2026-04: $45.02 per share

- 2026-05: $48.09 per share

- 2026-06: $53.09 per share

- 2026-07: $58.71 per share

- 2026-08: $54.69 per share

- 2026-09: $53.36 per share

- 2026-10: $48.84 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/910612/000119312526087049/cbl-20251231.htm); period 2025-12-31, filed 2026-03-03.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.