Short answer
Camden Property Trust (CPT) filed its fiscal 2025 10-K annual report with the SEC on Feb 12, 2026. It reported revenue of $13M (+81.7% year over year) and net income of $384M.
- Top risk flagged: Rent control laws in multiple states/municipalities posing restrictions on rent increases, eviction, and fees, risking property values and operations
FY2025 key financial metrics · XBRL
- Revenue
- $13M
- +81.7% YoY
- Net income
- $384M
- +135.4% YoY
- EPS (diluted)
- $3.54
- +136.0% YoY
- ROE
- 8.8%
- +5.3 pp YoY
- Operating cash flow
- $827M
- +6.7% YoY
Source: XBRL data from the Camden Property Trust (CPT) FY2025 10-K on SEC EDGAR. USD.
Camden Property Trust FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Ownership, management, development, and acquisition of multifamily apartment communities across the U.S.
- New emphasis on market balance strategy with selective property dispositions and capital redeployment to enhance long-term earnings growth
- Strategic focus on economies of scale in core markets to optimize personnel allocation and market strength
- Employee count increased to approximately 1,640, highlighting sustained human capital investment and workplace culture emphasis
- Recognized 18 consecutive years as one of FORTUNE's 100 Best Companies to Work For®, most recently ranked #18
Management Discussion & Analysis
- Revenue $1,573.5M, up 1.9% YoY; same store revenues up 0.8% driven by higher occupancy and other income
- Net income $384.5M vs $163.3M in 2024; property NOI $1,006.8M vs $985.0M; operating margin approximately 64.0% (NOI/total revenues)
- Best segment: Non-same store communities NOI up $21.0M due to acquisitions and stabilization; Worst: Dispositions NOI down $2.3M due to asset sales
- Share repurchases $270.7M in 2025 plus $120.7M repurchased in Jan 2026; $213.8M capex remaining on three projects; $1.2B credit facility with $590M commercial paper outstanding
- Outlook: Plan to continue acquisitions, developments, selective dispositions; risks include economic volatility, rent control, rising interest rates, and debt maturities of $567.8M in next 12 months
Risk Factors
- Rent control laws in multiple states/municipalities posing restrictions on rent increases, eviction, and fees, risking property values and operations
- Regional economic downturns with layoffs and unemployment impacting rental demand and cash flows in operational markets
- Construction cost and schedule risks for 3 projects with $135M-$155M estimated 2026 costs, including supply/labor shortages and permitting delays
- Competition for properties raising acquisition costs and limiting profitable acquisitions amid pressure from other real estate investors
- $3.9B debt as of 12/31/2025 risking liquidity and financial flexibility, subject to covenants and refinancing risks on unfavorable terms
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