(CBL) CBL & Associates Properties - Overview
Stock: Malls, Outlets, Centers, Portfolio
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 8.95% |
| Yield on Cost 5y | 11.63% |
| Yield CAGR 5y | -5.37% |
| Payout Consistency | 89.7% |
| Payout Ratio | 78.9% |
| Risk 5d forecast | |
|---|---|
| Volatility | 24.1% |
| Relative Tail Risk | -5.12% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.89 |
| Alpha | 15.05 |
| Character TTM | |
|---|---|
| Beta | 0.846 |
| Beta Downside | 1.179 |
| Drawdowns 3y | |
|---|---|
| Max DD | 29.14% |
| CAGR/Max DD | 0.71 |
Description: CBL CBL & Associates Properties January 20, 2026
CBL & Associates Properties, Inc. (NYSE: CBL) owns and manages a nationally dispersed portfolio of 88 retail assets-including 55 enclosed malls, outlet and lifestyle centers, plus over 25 open-air sites-covering roughly 53.9 million sq ft in 22 states. Headquartered in Chattanooga, TN, the company emphasizes active property management, aggressive leasing, and reinvestment to sustain market-dominant positions in growing communities.
Key operating metrics (as of the most recent 10-Q) show an occupancy rate near 86 % and a funds-from-operations (FFO) yield of roughly 5.2 %, both below the sector median, reflecting the broader pressure on brick-and-mortar retail from e-commerce penetration and shifting consumer spending. The business is highly sensitive to macro-economic drivers such as disposable-income trends and the Federal Reserve’s interest-rate policy, which affect both tenant sales performance and the cost of CBL’s debt-heavy balance sheet (debt-to-EBITDA ≈ 4.5×). A recent strategic focus on mixed-use redevelopment aims to diversify cash flow and improve resilience against these headwinds.
For a deeper, data-driven look at CBL’s valuation assumptions and scenario outcomes, consider reviewing the analysis available on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 123.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -1.22 > 1.0 |
| NWC/Revenue: 45.56% < 20% (prev 47.95%; Δ -2.39% < -1%) |
| CFO/TA 0.08 > 3% & CFO 215.7m > Net Income 123.8m |
| Net Debt (2.13b) to EBITDA (450.8m): 4.72 < 3 |
| Current Ratio: 2.21 > 1.5 & < 3 |
| Outstanding Shares: last quarter (31.3m) vs 12m ago 1.81% < -2% |
| Gross Margin: 64.30% > 18% (prev 0.66%; Δ 6363 % > 0.5%) |
| Asset Turnover: 22.25% > 50% (prev 23.29%; Δ -1.05% > 0%) |
| Interest Coverage Ratio: 1.64 > 6 (EBITDA TTM 450.8m / Interest Expense TTM 169.4m) |
Altman Z'' 0.79
| A: 0.09 (Total Current Assets 460.8m - Total Current Liabilities 208.6m) / Total Assets 2.73b |
| B: -0.13 (Retained Earnings -348.2m / Total Assets 2.73b) |
| C: 0.11 (EBIT TTM 278.4m / Avg Total Assets 2.49b) |
| D: -0.15 (Book Value of Equity -347.8m / Total Liabilities 2.39b) |
| Altman-Z'' Score: 0.79 = B |
Beneish M -3.08
| DSRI: 0.86 (Receivables 38.4m/42.1m, Revenue 553.6m/523.6m) |
| GMI: 1.03 (GM 64.30% / 66.23%) |
| AQI: 1.05 (AQ_t 0.25 / AQ_t-1 0.24) |
| SGI: 1.06 (Revenue 553.6m / 523.6m) |
| TATA: -0.03 (NI 123.8m - CFO 215.7m) / TA 2.73b) |
| Beneish M-Score: -3.08 (Cap -4..+1) = AA |
What is the price of CBL shares?
Over the past week, the price has changed by -0.71%, over one month by -4.33%, over three months by +15.14% and over the past year by +29.80%.
Is CBL a buy, sell or hold?
- StrongBuy: 1
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CBL price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 36 | -1.2% |
| Analysts Target Price | 36 | -1.2% |
| ValueRay Target Price | 43.6 | 19.8% |
CBL Fundamental Data Overview February 09, 2026
P/S = 2.0354
P/B = 3.1805
Revenue TTM = 553.6m USD
EBIT TTM = 278.4m USD
EBITDA TTM = 450.8m USD
Long Term Debt = 2.18b USD (from longTermDebt, last quarter)
Short Term Debt = 817.8m USD (from shortTermDebt, two quarters ago)
Debt = 2.18b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.13b USD (from netDebt column, last quarter)
Enterprise Value = 3.12b USD (993.5m + Debt 2.18b - CCE 52.6m)
Interest Coverage Ratio = 1.64 (Ebit TTM 278.4m / Interest Expense TTM 169.4m)
EV/FCF = 14.47x (Enterprise Value 3.12b / FCF TTM 215.7m)
FCF Yield = 6.91% (FCF TTM 215.7m / Enterprise Value 3.12b)
FCF Margin = 38.96% (FCF TTM 215.7m / Revenue TTM 553.6m)
Net Margin = 22.36% (Net Income TTM 123.8m / Revenue TTM 553.6m)
Gross Margin = 64.30% ((Revenue TTM 553.6m - Cost of Revenue TTM 197.7m) / Revenue TTM)
Gross Margin QoQ = 64.14% (prev 65.24%)
Tobins Q-Ratio = 1.14 (Enterprise Value 3.12b / Total Assets 2.73b)
Interest Expense / Debt = 2.05% (Interest Expense 44.8m / Debt 2.18b)
Taxrate = 0.06% (48.0k / 74.2m)
NOPAT = 278.3m (EBIT 278.4m * (1 - 0.06%))
Current Ratio = 2.21 (Total Current Assets 460.8m / Total Current Liabilities 208.6m)
Debt / Equity = 6.21 (Debt 2.18b / totalStockholderEquity, last quarter 351.4m)
Debt / EBITDA = 4.72 (Net Debt 2.13b / EBITDA 450.8m)
Debt / FCF = 9.87 (Net Debt 2.13b / FCF TTM 215.7m)
Total Stockholder Equity = 314.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.97% (Net Income 123.8m / Total Assets 2.73b)
RoE = 39.32% (Net Income TTM 123.8m / Total Stockholder Equity 314.9m)
RoCE = 11.16% (EBIT 278.4m / Capital Employed (Equity 314.9m + L.T.Debt 2.18b))
RoIC = 11.19% (NOPAT 278.3m / Invested Capital 2.49b)
WACC = 4.24% (E(993.5m)/V(3.17b) * Re(9.03%) + D(2.18b)/V(3.17b) * Rd(2.05%) * (1-Tc(0.00)))
Discount Rate = 9.03% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.04%
[DCF Debug] Terminal Value 87.97% ; FCFF base≈211.4m ; Y1≈247.8m ; Y5≈375.0m
Fair Price DCF = 288.5 (EV 10.98b - Net Debt 2.13b = Equity 8.85b / Shares 30.7m; r=5.90% [WACC]; 5y FCF grow 18.32% → 2.90% )
EPS Correlation: 68.36 | EPS CAGR: 483.5% | SUE: 3.58 | # QB: 1
Revenue Correlation: -36.61 | Revenue CAGR: -3.10% | SUE: 0.81 | # QB: 0