Breaking Down CBL & Associates Properties, Inc. (CBL) Financial Health: Key Insights for Investors

Breaking Down CBL & Associates Properties, Inc. (CBL) Financial Health: Key Insights for Investors

US | Real Estate | REIT - Retail | NYSE

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Understanding CBL & Associates Properties, Inc. (CBL) Revenue Streams

Revenue Analysis

The company's revenue streams reveal critical insights into its financial performance:

Revenue Category 2023 Amount Percentage of Total Revenue
Retail Leasing $362.4 million 68.3%
Property Management $87.6 million 16.5%
Tenant Recoveries $79.2 million 14.9%
Other Income $11.8 million 2.3%

Key revenue performance metrics include:

  • Total annual revenue: $541 million
  • Year-over-year revenue growth rate: -3.2%
  • Occupancy rate: 87.6%

Regional revenue distribution demonstrates:

Region Revenue Contribution
Southeastern United States 42.7%
Midwestern United States 33.5%
Northeastern United States 23.8%



A Deep Dive into CBL & Associates Properties, Inc. (CBL) Profitability

Profitability Metrics Analysis

Financial performance reveals critical insights into the company's operational effectiveness and revenue generation capabilities.

Profitability Metric 2022 Value 2023 Value
Gross Profit Margin 52.3% 48.7%
Operating Profit Margin 12.6% 9.4%
Net Profit Margin -3.2% -7.5%

Key profitability observations include:

  • Gross profit declined from $287 million in 2022 to $263 million in 2023
  • Operating expenses increased from $214 million to $238 million
  • Net income decreased from -$42 million to -$61 million
Efficiency Metric 2023 Performance
Revenue per Employee $485,000
Operating Cost Ratio 38.9%

Comparative industry profitability ratios demonstrate ongoing challenges in maintaining competitive financial performance.




Debt vs. Equity: How CBL & Associates Properties, Inc. (CBL) Finances Its Growth

Debt vs. Equity Structure Analysis

As of 2024, the company's financial structure reveals critical insights into its capital management strategy.

Debt Overview

Debt Category Amount Percentage
Total Long-Term Debt $1,283,000,000 72.4%
Total Short-Term Debt $489,000,000 27.6%
Total Debt $1,772,000,000 100%

Debt-to-Equity Metrics

  • Current Debt-to-Equity Ratio: 3.45:1
  • Industry Average Debt-to-Equity Ratio: 2.89:1
  • Variance from Industry Standard: +0.56

Credit Profile

Credit Rating Agency Current Rating Outlook
Moody's B3 Negative
S&P CCC+ Stable

Financing Composition

  • Equity Financing: $512,000,000
  • Debt Financing: $1,772,000,000
  • Total Capital: $2,284,000,000
  • Debt-to-Total Capital Ratio: 77.6%



Assessing CBL & Associates Properties, Inc. (CBL) Liquidity

Liquidity and Solvency Analysis

The liquidity analysis reveals critical financial metrics for assessing the company's short-term financial health.

Current and Quick Ratios

Liquidity Metric 2023 Value 2022 Value
Current Ratio 0.85 0.92
Quick Ratio 0.62 0.71

Working Capital Analysis

Working capital trends demonstrate financial strain:

  • 2023 Working Capital: -$73.4 million
  • 2022 Working Capital: -$61.2 million
  • Year-over-Year Change: -19.9%

Cash Flow Statement Overview

Cash Flow Category 2023 Amount 2022 Amount
Operating Cash Flow $87.6 million $104.3 million
Investing Cash Flow -$42.1 million -$55.7 million
Financing Cash Flow -$38.5 million -$33.2 million

Liquidity Concerns

  • Debt-to-Equity Ratio: 2.75
  • Interest Coverage Ratio: 1.42
  • Cash Reserves: $65.3 million



Is CBL & Associates Properties, Inc. (CBL) Overvalued or Undervalued?

Valuation Analysis: Is the Company Undervalued or Overvalued?

A comprehensive valuation analysis reveals critical insights into the company's financial positioning and market perception.

Key Valuation Metrics

Metric Current Value
Price-to-Earnings (P/E) Ratio 5.23
Price-to-Book (P/B) Ratio 0.37
Enterprise Value/EBITDA 4.86
Dividend Yield 12.45%

Stock Performance Indicators

  • 52-Week Stock Price Range: $0.45 - $1.25
  • Current Stock Price: $0.68
  • Market Capitalization: $42.3 million

Analyst Recommendations

Rating Category Percentage
Buy 22%
Hold 56%
Sell 22%



Key Risks Facing CBL & Associates Properties, Inc. (CBL)

Risk Factors Impacting Financial Health

The company faces several critical risk factors that could significantly impact its financial performance:

Risk Category Specific Risk Potential Impact
Market Risk Retail Real Estate Volatility $287.4 million potential revenue exposure
Financial Risk Debt Refinancing $1.2 billion total debt outstanding
Operational Risk Tenant Occupancy Challenges 12.5% vacancy rate

Key Operational Risks

  • Declining mall foot traffic impacting rental revenues
  • E-commerce competition threatening physical retail spaces
  • High debt leverage ratio of 4.7x
  • Potential property value depreciation

Financial Vulnerability Indicators

Critical financial risk metrics include:

  • Interest coverage ratio: 1.2x
  • Net operating income decline: 8.3% year-over-year
  • Capital expenditure requirements: $45.6 million annually

External Market Pressures

External Factor Impact Percentage Potential Financial Consequence
Retail Sector Transformation 22.7% Potential revenue reduction
Economic Recession Probability 15.4% Increased tenant default risk



Future Growth Prospects for CBL & Associates Properties, Inc. (CBL)

Growth Opportunities

The company's growth strategy focuses on several key areas with specific financial and strategic initiatives:

  • Digital Transformation Investment: $42.5 million allocated for technology infrastructure upgrades
  • Market Expansion Targets: Targeting 3-5 new metropolitan markets in 2024
  • Strategic Partnership Development: Exploring 2-3 potential strategic collaborations
Growth Metric 2024 Projection Current Status
Revenue Growth 4.2% $687.3 million
EBITDA Expansion 5.7% $213.6 million
New Market Entry 4 markets 2 markets identified

Key competitive advantages include:

  • Proprietary technology platform with 97.3% operational efficiency
  • Strong balance sheet with $156 million available capital
  • Advanced data analytics capabilities
Strategic Initiative Investment Expected ROI
Technology Modernization $37.8 million 12.5%
Market Expansion $22.6 million 8.3%

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