What is Copt Defense Properties worth?
With the base-case assumptions below, a discounted cash flow model on Copt Defense Properties's reported free cash flow gives $25.45 per share. The share price was $33.06 on November 10, 2026, 30% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 0.5% | 10.0% | $7.51 | -77% |
| Base | 5.5% | 9.0% | $25.45 | -23% |
| Bull | 10.5% | 8.0% | $61.22 | +85% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $38.61 | $42.62 | $47.52 | $53.65 | $61.52 |
| 8.0% | $28.80 | $31.40 | $34.47 | $38.16 | $42.66 |
| 9.0% | $21.62 | $23.40 | $25.45 | $27.84 | $30.67 |
| 10.0% | $16.15 | $17.41 | $18.84 | $20.48 | $22.37 |
| 11.0% | $11.84 | $12.77 | $13.80 | $14.97 | $16.29 |
Where the presets come from
Base: years 1 to 5 grow at Copt Defense Properties's revenue growth rate over the last 5 fiscal years (5.6% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions