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Cousins Properties CUZ Office — Net Operating Income

Other segment segments

Non-Office
$2.31M+62.0%

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Other financials

Income statement

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Revenue$263.1M+5.1%
Gross profit$180.5M+4.2%
Net income-$24.9M-219%
EPS (diluted)-$0.15-225%

Balance sheet

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Cash & equivalents$6.3M+18.1%
Total debt$3.8B+24.5%
Total equity$4.5B-6.3%
Total assets$9.1B+4.9%

Cash flow

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Operating cash flow$40.5M-9.6%
CapEx$66.8M+5.7%
Free cash flow$33.8M-8.4%

Valuation

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Market cap$4.91B+8.4%
Enterprise value$8.73B+14.2%
P/S4.9×0.0×

Profitability

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Gross margin68.2%+0.2pp
Net margin-0.2%-6.1pp
FCF margin13.6%-3.6pp

Returns & leverage

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Return on equity-0%-1.2pp
Debt / equity0.8×+0.2×

Where this comes from

Reported directly by Cousins Properties in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Cousins Properties’s 10-Q, filed April 29, 2026.

Filed
Apr 29, 2026, 4:22 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000025232-26-000044
Three Months Ended March 31, 2026Rental Property RevenuesRental Property Operating ExpensesNOI
Dallas12,4534,0358,418
Houston8,7723,2145,558
Nashville1,680905775
Segment Totals$261,613$83,864$177,749
Other Non - Office Properties4,0131,6992,314
Portfolio Totals$265,626$85,563$180,063
Less: Company's share from unconsolidated joint ventures$(6,349)$(2,978)
Termination Fees1,831

Item 1. Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is Cousins Properties's office — net operating income?
Cousins Properties (CUZ) reported office — net operating income of $177.75M in Q1 2026.
How has Cousins Properties's office — net operating income changed year-over-year?
Cousins Properties's office — net operating income increased by 8.5% year-over-year, from $163.8M to $177.75M.
What is the long-term trend for Cousins Properties's office — net operating income?
Over 4 years (2021 to 2025), Cousins Properties's office — net operating income has grown at a 8.1% compound annual growth rate (CAGR), from $488.31M to $665.8M.
What does office — net operating income mean?
Net Operating Income for the office segment is calculated as total property revenue minus property-level operating expenses. It serves as a primary indicator of the core financial performance and cash-generating capability of the office portfolio before accounting for corporate overhead, interest, or taxes. This metric is essential for valuing real estate assets and comparing the operational health of the office segment against industry peers.

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