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Cousins Properties CUZ Tenant Funded Improvements — Deferred income

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FRImprovements Funded by Tenant
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PTCTNoncash Or Part Noncash Fixed Assets Tenant Improvement Allowance
$0-100%
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KLICAccrued leasehold renovations
$1.02M
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SHCDeferred Rent Credit
$16.65M-0.1%
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TTANPayments For Tenant Improvements
$281.75K-70.3%
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MTCHLessee, Operating Lease, Tenant Improvement Receivable
$3.86M

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$4.65B-24.3%

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:ContractWithCustomerLiability.

The official record: Cousins Properties’s 10-K, filed February 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cousins Properties's tenant funded improvements — deferred income?
Cousins Properties (CUZ) reported tenant funded improvements — deferred income of $255.2M in Q4 2025.
How has Cousins Properties's tenant funded improvements — deferred income changed year-over-year?
Cousins Properties's tenant funded improvements — deferred income increased by 11.7% year-over-year, from $228.4M to $255.2M.
What does tenant funded improvements — deferred income mean?
This metric represents the liability arising from payments received from tenants for property improvements that have not yet been recognized as revenue. It reflects the obligation to complete specific construction or renovation projects over the lease term. Monitoring this balance helps investors assess the timing of future revenue recognition and the scale of capital projects funded directly by tenants.