CoreCivic, Inc. (CXW) FY2025 10-K Annual Report
CoreCivic, Inc. (CXW) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 20, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
CoreCivic, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Operates and manages correctional, detention, and residential reentry facilities for federal, state, and local governments
- • New emphasis: Expansion of ICE contracts triggered by 2025 immigration enforcement laws and $75B funding under the One Big Beautiful Bill Act
- • Strategic shift: Reactivation of five previously idle facilities adding ~7,000 beds; growth in federal detention segment, especially ICE detainees +58.2% YoY
- • Quantitative highlight: Net income $116.5M (vs. $68.9M prior year); operated facility count stable at 69 with 2 facility sales and 2 acquisitions
- • Noteworthy fact: Resumption of operations at Dilley Immigration Processing Center after 7 months idle; legal challenges delaying intake at Midwest Regional Reception Center
Management Discussion & Analysis
- • Revenue $2.21B, up 12.7% YoY from $1.96B in 2024
- • Net income $113.6M vs $63.5M in 2024, operating expenses $1.69B vs $1.49B
- • Best segment: Properties with $40M incremental revenue from Farmville acquisition
- • Share repurchases $218.4M in 2025, total $399.5M cost, capex $75M for facility activations
- • 2026 capex guidance $35-$40M, cash $97.9M, revolving credit $311.4M available, no debt maturity until 2027
Risk Factors
- • Regulatory risk from potential changes in the DOJ's Federal Bureau of Prisons contract policies affecting 40 correctional facilities with 68,000 beds
- • Macroeconomic impact from U.S. government budget adjustments influencing funding for 20 residential reentry centers with 4,000 beds
- • Operational dependency on long-term leases for 40 owned or controlled correctional facilities, increasing exposure to real estate market fluctuations
- • Competitive pressure from alternative community corrections providers affecting CoreCivic’s largest market share in correctional facility ownership
- • Financial risk tied to concentration in government contracts, representing nearly 100% of revenue across five owned properties with 8,000 bed capacity
CoreCivic, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$2.2B
▲ +12.7% YoY
Net Income
$117M
▲ +69.2% YoY
Net Margin
5.3%
▲ +176bp YoY
ROE
8.3%
▲ +368bp YoY
Total Assets
$3.3B
▲ +11.1% YoY
EPS (Diluted)
$1.08
▲ +74.2% YoY
Operating Cash Flow
$195M
▼ -27.7% YoY
Source: XBRL data from CoreCivic, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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