vs
Side-by-side financial comparison of COPT DEFENSE PROPERTIES (CDP) and Mueller Water Products, Inc. (MWA). Click either name above to swap in a different company.
Mueller Water Products, Inc. is the larger business by last-quarter revenue ($318.2M vs $197.4M, roughly 1.6× COPT DEFENSE PROPERTIES). COPT DEFENSE PROPERTIES runs the higher net margin — 20.0% vs 13.6%, a 6.4% gap on every dollar of revenue. On growth, COPT DEFENSE PROPERTIES posted the faster year-over-year revenue change (7.6% vs 4.6%). COPT DEFENSE PROPERTIES produced more free cash flow last quarter ($288.9M vs $44.0M). Over the past eight quarters, COPT DEFENSE PROPERTIES's revenue compounded faster (1.1% CAGR vs -5.1%).
COPT Defense Properties is a real estate investment trust that invests in office buildings, mostly in the suburbs of the Washington, D.C. metropolitan area. It primarily leases to the U.S. government or companies in the arms industry. As of December 31, 2024, the company owned 164 office buildings comprising 16.5 million square feet and 31 single-tenant data centers comprising 5.9 million square feet.
Mueller Water Products, Inc. (MWP) is a publicly traded company headquartered in Atlanta, Georgia. It is one of the largest manufacturers and distributors of fire hydrants, gate valves, and other water infrastructure products in North America. MWP is made up of two business units—Mueller Co. and Mueller Technologies—that oversee more than a dozen brands and affiliates, including Echologics and Mueller Systems.
CDP vs MWA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $197.4M | $318.2M |
| Net Profit | $39.4M | $43.2M |
| Gross Margin | — | 37.6% |
| Operating Margin | 19.9% | 17.8% |
| Net Margin | 20.0% | 13.6% |
| Revenue YoY | 7.6% | 4.6% |
| Net Profit YoY | 8.0% | 22.4% |
| EPS (diluted) | $0.32 | $0.27 |
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.
| Q4 25 | $197.4M | $318.2M | ||
| Q3 25 | $188.8M | $380.8M | ||
| Q2 25 | $189.9M | $380.3M | ||
| Q1 25 | $187.9M | $364.3M | ||
| Q4 24 | $183.4M | $304.3M | ||
| Q3 24 | $189.2M | $348.2M | ||
| Q2 24 | $187.3M | $356.7M | ||
| Q1 24 | $193.3M | $353.4M |
| Q4 25 | $39.4M | $43.2M | ||
| Q3 25 | $43.7M | $52.6M | ||
| Q2 25 | $40.2M | $52.5M | ||
| Q1 25 | $36.2M | $51.3M | ||
| Q4 24 | $36.5M | $35.3M | ||
| Q3 24 | $37.4M | $10.0M | ||
| Q2 24 | $36.4M | $47.3M | ||
| Q1 24 | $33.7M | $44.3M |
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 36.8% | ||
| Q2 25 | — | 38.3% | ||
| Q1 25 | — | 35.1% | ||
| Q4 24 | — | 33.8% | ||
| Q3 24 | — | 31.8% | ||
| Q2 24 | — | 36.8% | ||
| Q1 24 | — | 36.9% |
| Q4 25 | 19.9% | 17.8% | ||
| Q3 25 | 22.5% | 18.3% | ||
| Q2 25 | 21.0% | 19.4% | ||
| Q1 25 | 19.1% | 19.2% | ||
| Q4 24 | 19.7% | 15.6% | ||
| Q3 24 | 19.8% | 8.2% | ||
| Q2 24 | 19.4% | 18.8% | ||
| Q1 24 | 17.5% | 18.0% |
| Q4 25 | 20.0% | 13.6% | ||
| Q3 25 | 23.2% | 13.8% | ||
| Q2 25 | 21.1% | 13.8% | ||
| Q1 25 | 19.3% | 14.1% | ||
| Q4 24 | 19.9% | 11.6% | ||
| Q3 24 | 19.8% | 2.9% | ||
| Q2 24 | 19.4% | 13.3% | ||
| Q1 24 | 17.4% | 12.5% |
| Q4 25 | $0.32 | $0.27 | ||
| Q3 25 | $0.37 | $0.34 | ||
| Q2 25 | $0.34 | $0.33 | ||
| Q1 25 | $0.31 | $0.33 | ||
| Q4 24 | $0.31 | $0.22 | ||
| Q3 24 | $0.32 | $0.07 | ||
| Q2 24 | $0.31 | $0.30 | ||
| Q1 24 | $0.29 | $0.28 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $275.0M | — |
| Total DebtLower is stronger | $2.8B | — |
| Stockholders' EquityBook value | $1.5B | $1.0B |
| Total Assets | $4.7B | $1.8B |
| Debt / EquityLower = less leverage | 1.83× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $275.0M | — | ||
| Q3 25 | $23.7M | — | ||
| Q2 25 | $21.3M | — | ||
| Q1 25 | $24.3M | — | ||
| Q4 24 | $38.3M | — | ||
| Q3 24 | $34.5M | — | ||
| Q2 24 | $100.4M | — | ||
| Q1 24 | $123.1M | — |
| Q4 25 | $2.8B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | — |
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.5B | $981.7M | ||
| Q2 25 | $1.5B | $929.0M | ||
| Q1 25 | $1.5B | $873.6M | ||
| Q4 24 | $1.5B | $834.1M | ||
| Q3 24 | $1.5B | $810.1M | ||
| Q2 24 | $1.5B | $791.6M | ||
| Q1 24 | $1.5B | $754.5M |
| Q4 25 | $4.7B | $1.8B | ||
| Q3 25 | $4.4B | $1.8B | ||
| Q2 25 | $4.3B | $1.7B | ||
| Q1 25 | $4.3B | $1.7B | ||
| Q4 24 | $4.3B | $1.6B | ||
| Q3 24 | $4.2B | $1.6B | ||
| Q2 24 | $4.2B | $1.6B | ||
| Q1 24 | $4.2B | $1.5B |
| Q4 25 | 1.83× | — | ||
| Q3 25 | 1.62× | — | ||
| Q2 25 | 1.63× | — | ||
| Q1 25 | 1.62× | — | ||
| Q4 24 | 1.60× | — | ||
| Q3 24 | 1.61× | — | ||
| Q2 24 | 1.61× | — | ||
| Q1 24 | 1.63× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $309.9M | $61.2M |
| Free Cash FlowOCF − Capex | $288.9M | $44.0M |
| FCF MarginFCF / Revenue | 146.4% | 13.8% |
| Capex IntensityCapex / Revenue | 10.7% | 5.4% |
| Cash ConversionOCF / Net Profit | 7.87× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $501.5M | $173.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $309.9M | $61.2M | ||
| Q3 25 | $68.6M | $83.5M | ||
| Q2 25 | $87.9M | $67.4M | ||
| Q1 25 | $72.1M | $14.3M | ||
| Q4 24 | $331.0M | $54.1M | ||
| Q3 24 | $65.1M | $89.3M | ||
| Q2 24 | $93.8M | $87.3M | ||
| Q1 24 | $71.0M | $-5.7M |
| Q4 25 | $288.9M | $44.0M | ||
| Q3 25 | $62.9M | $69.0M | ||
| Q2 25 | $84.5M | $55.7M | ||
| Q1 25 | $65.1M | $5.1M | ||
| Q4 24 | $299.6M | $42.2M | ||
| Q3 24 | $61.0M | $69.9M | ||
| Q2 24 | $88.4M | $75.1M | ||
| Q1 24 | $57.9M | $-15.8M |
| Q4 25 | 146.4% | 13.8% | ||
| Q3 25 | 33.3% | 18.1% | ||
| Q2 25 | 44.5% | 14.6% | ||
| Q1 25 | 34.7% | 1.4% | ||
| Q4 24 | 163.3% | 13.9% | ||
| Q3 24 | 32.3% | 20.1% | ||
| Q2 24 | 47.2% | 21.1% | ||
| Q1 24 | 30.0% | -4.5% |
| Q4 25 | 10.7% | 5.4% | ||
| Q3 25 | 3.0% | 3.8% | ||
| Q2 25 | 1.8% | 3.1% | ||
| Q1 25 | 3.7% | 2.5% | ||
| Q4 24 | 17.1% | 3.9% | ||
| Q3 24 | 2.1% | 5.6% | ||
| Q2 24 | 2.9% | 3.4% | ||
| Q1 24 | 6.8% | 2.9% |
| Q4 25 | 7.87× | 1.42× | ||
| Q3 25 | 1.57× | 1.59× | ||
| Q2 25 | 2.19× | 1.28× | ||
| Q1 25 | 1.99× | 0.28× | ||
| Q4 24 | 9.08× | 1.53× | ||
| Q3 24 | 1.74× | 8.93× | ||
| Q2 24 | 2.58× | 1.85× | ||
| Q1 24 | 2.11× | -0.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CDP
Segment breakdown not available.
MWA
| Water Flow Solutions | $173.0M | 54% |
| Water Management Solutions | $145.2M | 46% |
