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

LiveRamp Holdings, Inc. is the larger business by last-quarter revenue ($212.2M vs $156.4M, roughly 1.4× CBL & ASSOCIATES PROPERTIES INC). CBL & ASSOCIATES PROPERTIES INC runs the higher net margin — 31.3% vs 18.8%, a 12.5% gap on every dollar of revenue. On growth, CBL & ASSOCIATES PROPERTIES INC posted the faster year-over-year revenue change (18.8% vs 8.6%). Over the past eight quarters, LiveRamp Holdings, Inc.'s revenue compounded faster (11.1% CAGR vs 10.1%).

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.

LiveRamp Holdings, Inc., is an American SaaS company that offers a data connectivity platform whose services include data onboarding, the transfer of offline data online for marketing purposes.

CBL vs RAMP — Head-to-Head

Bigger by revenue
RAMP
RAMP
1.4× larger
RAMP
$212.2M
$156.4M
CBL
Growing faster (revenue YoY)
CBL
CBL
+10.2% gap
CBL
18.8%
8.6%
RAMP
Higher net margin
CBL
CBL
12.5% more per $
CBL
31.3%
18.8%
RAMP
Faster 2-yr revenue CAGR
RAMP
RAMP
Annualised
RAMP
11.1%
10.1%
CBL

Income Statement — Q4 FY2025 vs Q3 FY2026

Metric
CBL
CBL
RAMP
RAMP
Revenue
$156.4M
$212.2M
Net Profit
$49.0M
$39.9M
Gross Margin
71.9%
Operating Margin
18.6%
Net Margin
31.3%
18.8%
Revenue YoY
18.8%
8.6%
Net Profit YoY
29.0%
255.7%
EPS (diluted)
$1.61
$0.62

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
RAMP
RAMP
Q4 25
$156.4M
$212.2M
Q3 25
$139.3M
$199.8M
Q2 25
$140.9M
$194.8M
Q1 25
$141.8M
$188.7M
Q4 24
$131.7M
$195.4M
Q3 24
$125.1M
$185.5M
Q2 24
$129.7M
$176.0M
Q1 24
$129.1M
$171.9M
Net Profit
CBL
CBL
RAMP
RAMP
Q4 25
$49.0M
$39.9M
Q3 25
$75.4M
$27.4M
Q2 25
$2.8M
$7.7M
Q1 25
$8.8M
$-6.3M
Q4 24
$38.0M
$11.2M
Q3 24
$16.2M
$1.7M
Q2 24
$4.7M
$-7.5M
Q1 24
$50.0K
$-5.4M
Gross Margin
CBL
CBL
RAMP
RAMP
Q4 25
71.9%
Q3 25
70.2%
Q2 25
70.1%
Q1 25
69.3%
Q4 24
71.9%
Q3 24
72.4%
Q2 24
70.6%
Q1 24
72.2%
Operating Margin
CBL
CBL
RAMP
RAMP
Q4 25
18.6%
Q3 25
10.7%
Q2 25
3.7%
Q1 25
-6.1%
Q4 24
7.5%
Q3 24
4.0%
Q2 24
-3.0%
Q1 24
-8.3%
Net Margin
CBL
CBL
RAMP
RAMP
Q4 25
31.3%
18.8%
Q3 25
54.2%
13.7%
Q2 25
2.0%
4.0%
Q1 25
6.2%
-3.3%
Q4 24
28.8%
5.7%
Q3 24
12.9%
0.9%
Q2 24
3.7%
-4.3%
Q1 24
0.0%
-3.1%
EPS (diluted)
CBL
CBL
RAMP
RAMP
Q4 25
$1.61
$0.62
Q3 25
$2.38
$0.42
Q2 25
$0.08
$0.12
Q1 25
$0.27
$-0.10
Q4 24
$1.22
$0.17
Q3 24
$0.52
$0.03
Q2 24
$0.14
$-0.11
Q1 24
$-0.01
$-0.09

Balance Sheet & Financial Strength

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

Metric
CBL
CBL
RAMP
RAMP
Cash + ST InvestmentsLiquidity on hand
$42.3M
$403.4M
Total DebtLower is stronger
$2.2B
Stockholders' EquityBook value
$374.9M
$962.3M
Total Assets
$2.7B
$1.3B
Debt / EquityLower = less leverage
5.79×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CBL
CBL
RAMP
RAMP
Q4 25
$42.3M
$403.4M
Q3 25
$52.6M
$376.9M
Q2 25
$100.3M
$371.1M
Q1 25
$100.3M
$420.8M
Q4 24
$40.8M
$384.3M
Q3 24
$65.1M
$348.4M
Q2 24
$57.7M
$342.7M
Q1 24
$57.7M
$368.9M
Total Debt
CBL
CBL
RAMP
RAMP
Q4 25
$2.2B
Q3 25
$2.2B
Q2 25
$2.1B
Q1 25
$2.2B
Q4 24
$2.2B
Q3 24
$1.8B
Q2 24
$1.9B
Q1 24
$1.9B
Stockholders' Equity
CBL
CBL
RAMP
RAMP
Q4 25
$374.9M
$962.3M
Q3 25
$351.4M
$943.8M
Q2 25
$289.4M
$947.8M
Q1 25
$295.0M
$948.9M
Q4 24
$323.5M
$957.7M
Q3 24
$308.3M
$932.1M
Q2 24
$308.8M
$951.9M
Q1 24
$324.2M
$949.1M
Total Assets
CBL
CBL
RAMP
RAMP
Q4 25
$2.7B
$1.3B
Q3 25
$2.7B
$1.2B
Q2 25
$2.6B
$1.2B
Q1 25
$2.6B
$1.3B
Q4 24
$2.7B
$1.3B
Q3 24
$2.2B
$1.2B
Q2 24
$2.3B
$1.2B
Q1 24
$2.3B
$1.2B
Debt / Equity
CBL
CBL
RAMP
RAMP
Q4 25
5.79×
Q3 25
6.21×
Q2 25
7.39×
Q1 25
7.29×
Q4 24
6.84×
Q3 24
5.76×
Q2 24
6.00×
Q1 24
5.74×

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
RAMP
RAMP
Operating Cash FlowLast quarter
$249.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
0.1%
Cash ConversionOCF / Net Profit
5.10×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CBL
CBL
RAMP
RAMP
Q4 25
$249.7M
Q3 25
$69.6M
$57.4M
Q2 25
$68.3M
$-15.8M
Q1 25
$31.7M
Q4 24
$202.2M
$45.1M
Q3 24
$61.1M
$55.6M
Q2 24
$64.2M
$-9.3M
Q1 24
$30.7M
Free Cash Flow
CBL
CBL
RAMP
RAMP
Q4 25
Q3 25
$56.8M
Q2 25
$-16.2M
Q1 25
Q4 24
$44.8M
Q3 24
$46.0M
$55.4M
Q2 24
$54.8M
$-9.6M
Q1 24
$24.7M
FCF Margin
CBL
CBL
RAMP
RAMP
Q4 25
Q3 25
28.4%
Q2 25
-8.3%
Q1 25
Q4 24
22.9%
Q3 24
36.8%
29.8%
Q2 24
42.2%
-5.4%
Q1 24
19.1%
Capex Intensity
CBL
CBL
RAMP
RAMP
Q4 25
0.1%
Q3 25
0.3%
Q2 25
0.2%
Q1 25
0.2%
Q4 24
0.1%
Q3 24
12.1%
0.1%
Q2 24
7.3%
0.1%
Q1 24
4.7%
1.0%
Cash Conversion
CBL
CBL
RAMP
RAMP
Q4 25
5.10×
Q3 25
0.92×
2.09×
Q2 25
24.74×
-2.04×
Q1 25
3.60×
Q4 24
5.32×
4.02×
Q3 24
3.77×
32.10×
Q2 24
13.54×
Q1 24
614.76×

Financial Flow Comparison

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

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