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Side-by-side financial comparison of CBL & ASSOCIATES PROPERTIES INC (CBL) and Phoenix Education Partners, Inc. (PXED). Click either name above to swap in a different company.

Phoenix Education Partners, Inc. is the larger business by last-quarter revenue ($222.5M vs $156.4M, roughly 1.4× CBL & ASSOCIATES PROPERTIES INC). CBL & ASSOCIATES PROPERTIES INC runs the higher net margin — 31.3% vs 4.8%, a 26.5% gap on every dollar of revenue.

CBL & Associates Properties, Inc. is an American real estate investment trust that invests in shopping centers and shopping malls, primarily in the Southeastern and Midwestern United States. The company is organized in Delaware with its headquarters in Chattanooga, Tennessee. Its largest market is Chattanooga, Tennessee. The company's name is based on the initials of its founder, Charles B. Lebovitz.

The University of Phoenix (UoPX) is a private for-profit university headquartered in Phoenix, Arizona. Founded in 1976, the university confers certificates and degrees at the certificate, associate, bachelor's, master's, and doctoral degree levels. It is institutionally accredited by the Higher Learning Commission and has an open enrollment admissions policy for many undergraduate programs. The school is owned by Phoenix Education Partners.

CBL vs PXED — Head-to-Head

Bigger by revenue
PXED
PXED
1.4× larger
PXED
$222.5M
$156.4M
CBL
Higher net margin
CBL
CBL
26.5% more per $
CBL
31.3%
4.8%
PXED

Income Statement — Q4 FY2025 vs Q2 FY2026

Metric
CBL
CBL
PXED
PXED
Revenue
$156.4M
$222.5M
Net Profit
$49.0M
$10.8M
Gross Margin
Operating Margin
6.3%
Net Margin
31.3%
4.8%
Revenue YoY
18.8%
Net Profit YoY
29.0%
EPS (diluted)
$1.61
$0.28

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
CBL
CBL
PXED
PXED
Q1 26
$222.5M
Q4 25
$156.4M
$262.0M
Q3 25
$139.3M
Q2 25
$140.9M
Q1 25
$141.8M
Q4 24
$131.7M
Q3 24
$125.1M
Q2 24
$129.7M
Net Profit
CBL
CBL
PXED
PXED
Q1 26
$10.8M
Q4 25
$49.0M
$15.5M
Q3 25
$75.4M
Q2 25
$2.8M
Q1 25
$8.8M
Q4 24
$38.0M
Q3 24
$16.2M
Q2 24
$4.7M
Operating Margin
CBL
CBL
PXED
PXED
Q1 26
6.3%
Q4 25
9.8%
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Net Margin
CBL
CBL
PXED
PXED
Q1 26
4.8%
Q4 25
31.3%
5.9%
Q3 25
54.2%
Q2 25
2.0%
Q1 25
6.2%
Q4 24
28.8%
Q3 24
12.9%
Q2 24
3.7%
EPS (diluted)
CBL
CBL
PXED
PXED
Q1 26
$0.28
Q4 25
$1.61
$0.40
Q3 25
$2.38
Q2 25
$0.08
Q1 25
$0.27
Q4 24
$1.22
Q3 24
$0.52
Q2 24
$0.14

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CBL
CBL
PXED
PXED
Cash + ST InvestmentsLiquidity on hand
$42.3M
$201.4M
Total DebtLower is stronger
$2.2B
$58.8M
Stockholders' EquityBook value
$374.9M
$291.1M
Total Assets
$2.7B
$546.4M
Debt / EquityLower = less leverage
5.79×
0.20×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CBL
CBL
PXED
PXED
Q1 26
$201.4M
Q4 25
$42.3M
$163.5M
Q3 25
$52.6M
Q2 25
$100.3M
Q1 25
$100.3M
Q4 24
$40.8M
Q3 24
$65.1M
Q2 24
$57.7M
Total Debt
CBL
CBL
PXED
PXED
Q1 26
$58.8M
Q4 25
$2.2B
$61.6M
Q3 25
$2.2B
Q2 25
$2.1B
Q1 25
$2.2B
Q4 24
$2.2B
Q3 24
$1.8B
Q2 24
$1.9B
Stockholders' Equity
CBL
CBL
PXED
PXED
Q1 26
$291.1M
Q4 25
$374.9M
$280.4M
Q3 25
$351.4M
Q2 25
$289.4M
Q1 25
$295.0M
Q4 24
$323.5M
Q3 24
$308.3M
Q2 24
$308.8M
Total Assets
CBL
CBL
PXED
PXED
Q1 26
$546.4M
Q4 25
$2.7B
$549.6M
Q3 25
$2.7B
Q2 25
$2.6B
Q1 25
$2.6B
Q4 24
$2.7B
Q3 24
$2.2B
Q2 24
$2.3B
Debt / Equity
CBL
CBL
PXED
PXED
Q1 26
0.20×
Q4 25
5.79×
0.22×
Q3 25
6.21×
Q2 25
7.39×
Q1 25
7.29×
Q4 24
6.84×
Q3 24
5.76×
Q2 24
6.00×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CBL
CBL
PXED
PXED
Operating Cash FlowLast quarter
$249.7M
$48.9M
Free Cash FlowOCF − Capex
$43.5M
FCF MarginFCF / Revenue
19.6%
Capex IntensityCapex / Revenue
2.4%
Cash ConversionOCF / Net Profit
5.10×
4.53×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CBL
CBL
PXED
PXED
Q1 26
$48.9M
Q4 25
$249.7M
$31.1M
Q3 25
$69.6M
Q2 25
$68.3M
Q1 25
$31.7M
Q4 24
$202.2M
Q3 24
$61.1M
Q2 24
$64.2M
Free Cash Flow
CBL
CBL
PXED
PXED
Q1 26
$43.5M
Q4 25
$26.4M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
$46.0M
Q2 24
$54.8M
FCF Margin
CBL
CBL
PXED
PXED
Q1 26
19.6%
Q4 25
10.1%
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
36.8%
Q2 24
42.2%
Capex Intensity
CBL
CBL
PXED
PXED
Q1 26
2.4%
Q4 25
1.8%
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
12.1%
Q2 24
7.3%
Cash Conversion
CBL
CBL
PXED
PXED
Q1 26
4.53×
Q4 25
5.10×
2.01×
Q3 25
0.92×
Q2 25
24.74×
Q1 25
3.60×
Q4 24
5.32×
Q3 24
3.77×
Q2 24
13.54×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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