NYSE · Real Estate

Camden Property Trust

CPT · REIT - Residential

$98.82

▼ -0.3 (-0.3%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

N/A⤢

Fin. Health

N/A⤢

Valuation

N/A⤢

Cash Flow

C⤢

Free Cash Flow $54M

CapEx % of Net Income 221.5%

Owner Earnings $286M

Cash Flow

Free Cash Flow $54M

Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.

CapEx % of Net Income 221.5%

Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.

Owner Earnings $286M

Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

About Camden Property Trust

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 173 properties containing 58,811 apartment homes across the United States. Upon completion of 3 properties currently under development, the Company's portfolio will increase to 59,973 apartment homes in 176 properties. Camden Property Trust was established on May 25, 1993, and incorporated in Texas. Camden Property Trust is based in Houston, United States.

Market Data

Market Cap $11.4B

Enterprise Value $15.0B

P/E (TTM) 32.61

Dividend Yield 4.26%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin N/A

Company Info

Sector Real Estate

Industry REIT - Residential

Employees 1640

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Camden Property Trust at $98.82.

The business passes only 1 of 6 of Graham's defensive criteria — well below his required standard.

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

Showing Key Metrics

Income Highlights

Metric	Q2 2026	Q4 2025	Q4 2024
Gross Profit %	N/A•	62.2%•	N/A
Operating Margin %	N/A•	20.0%•	N/A
Net Income %	N/A•	39.9%•	N/A
Diluted EPS	0.18▼	1.44•	N/A

Balance Sheet Highlights

Metric	Q2 2026	Q4 2025
Total Assets	N/A	$9.0B
Total Debt	N/A•	$3.9B
Working Capital	N/A•	-$409M
Years to Pay Debt	N/A	25.00

Cash Flow Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Free Cash Flow	$54M▼	$67M•	N/A
Owner Earnings	$286M	$436M	N/A
CapEx % of Net Income	221.5%	83.3%	N/A

Income Statement

	2026	2025	2024
Tax Effect Of Unusual Items		1,046
Tax Rate For Calcs		0
Normalized EBITDA		228,621
Total Unusual Items		115,056
Total Unusual Items Excluding Goodwill		115,056
Net Income From Continuing Operation Net Minority Interest		156,036
Reconciled Depreciation		150,191
Reconciled Cost Of Revenue		147,714
EBITDA		343,677
EBIT		193,486
Net Interest Income		-33,979
Interest Expense		34,079
Interest Income		100
Normalized Income		42,026
Net Income From Continuing And Discontinued Operation		156,036
Total Expenses		312,464
Diluted Average Shares	102,363	108,617
Basic Average Shares	102,342	107,821
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders		155,701
Average Dilution Earnings
Net Income Common Stockholders		155,701
Otherunder Preferred Stock Dividend		335
Net Income		156,036
Minority Interests		-1,922
Net Income Including Noncontrolling Interests		157,958
Net Income Continuous Operations		157,958
Tax Provision		1,449
Pretax Income		159,407
Other Income Expense		115,056
Other Non Operating Income Expenses
Special Income Charges		-12,916	0
Impairment Of Capital Assets		12,916	0
Gain On Sale Of Security		127,972	0
Net Non Operating Interest Income Expense		-33,979
Interest Expense Non Operating		34,079
Interest Income Non Operating		100
Operating Income		78,330
Operating Expense		164,750
Other Operating Expenses		-5,282
Depreciation Amortization Depletion Income Statement		150,191
Depreciation And Amortization In Income Statement		150,191
Selling General And Administration		19,841
General And Administrative Expense		19,841
Other Gand A		19,841
Gross Profit		243,080
Cost Of Revenue		147,714
Total Revenue		390,794
Operating Revenue		390,794

Balance Sheet

	2026	2025
Treasury Shares Number		11,373
Ordinary Shares Number	115,733	106,365
Share Issued	115,733	117,738
Net Debt		3,875,587
Total Debt		3,900,790
Tangible Book Value		4,362,523
Invested Capital		8,263,313
Working Capital		-409,314
Net Tangible Assets		4,362,523
Common Stock Equity		4,362,523
Total Capitalization		8,263,313
Total Equity Gross Minority Interest		4,438,253
Minority Interest		75,730
Stockholders Equity		4,362,523
Gains Losses Not Affecting Retained Earnings		2,165
Other Equity Adjustments		2,165
Treasury Stock		620,497
Retained Earnings		-969,240
Additional Paid In Capital		5,948,938
Capital Stock		1,157
Common Stock		1,157
Total Liabilities Net Minority Interest		4,604,736
Total Non Current Liabilities Net Minority Interest		4,149,296
Other Non Current Liabilities		248,506
Long Term Debt And Capital Lease Obligation		3,900,790
Long Term Debt		3,900,790
Current Liabilities		455,440
Current Debt And Capital Lease Obligation
Current Debt
Commercial Paper
Payables And Accrued Expenses		455,440
Payables		455,440
Dividends Payable		114,971
Total Tax Payable		92,382
Accounts Payable		248,087
Total Assets		9,042,989
Total Non Current Assets		8,996,863
Other Non Current Assets		293,292
Investment Properties		8,703,571
Current Assets		46,126
Restricted Cash		12,039
Receivables		8,884
Accounts Receivable		8,884
Cash Cash Equivalents And Short Term Investments		25,203
Cash And Cash Equivalents		25,203

Cash Flow

	2026	2025	2024
Free Cash Flow	54,082	66,801
Repurchase Of Capital Stock	-262,829	-220,655
Repayment Of Debt	-362,950	0
Issuance Of Debt	946,716	159,835
Capital Expenditure	-94,023	-130,014
Interest Paid Supplemental Data	25,709	43,695
Income Tax Paid Supplemental Data	270	360	5
End Cash Position	130,294	37,242
Beginning Cash Position	37,242	37,309
Changes In Cash	93,052	-67
Financing Cash Flow	-35,021	-175,908
Cash Flow From Continuing Financing Activities	-35,021	-175,908
Net Other Financing Charges	-9,226	397
Cash Dividends Paid	-114,948	-115,485
Common Stock Dividend Paid	-114,948	-115,485
Net Common Stock Issuance	-262,829	-220,655
Common Stock Payments	-262,829	-220,655
Net Issuance Payments Of Debt	351,982	159,835
Net Short Term Debt Issuance	-231,784	159,835
Short Term Debt Issuance		159,835
Net Long Term Debt Issuance	583,766	0
Long Term Debt Payments	-362,950	0
Long Term Debt Issuance	946,716	0
Investing Cash Flow	-20,032	-20,974
Cash Flow From Continuing Investing Activities	-20,032	-20,974
Net Other Investing Changes	-2,703	-2,448
Net Investment Properties Purchase And Sale	0	111,488
Sale Of Investment Properties		196,498	0
Purchase Of Investment Properties	0	-85,010
Net PPE Purchase And Sale	76,694
Sale Of PPE	76,694
Capital Expenditure Reported	-94,023	-130,014
Operating Cash Flow	148,105	196,815
Cash Flow From Continuing Operating Activities	148,105	196,815
Change In Working Capital	12,923	-521
Change In Other Working Capital	1,514	1,468
Change In Other Current Liabilities	15,113	-91
Change In Other Current Assets	8,875	21,491
Change In Payables And Accrued Expense	-12,579	-23,389
Change In Payable	-12,579	-23,389
Change In Account Payable	19,985	11,054
Change In Tax Payable	-32,564	-34,443
Change In Income Tax Payable	-32,564	-34,443
Stock Based Compensation	4,053	4,243
Asset Impairment Charge		12,916	0
Depreciation Amortization Depletion	150,000	150,191
Depreciation And Amortization	150,000	150,191
Operating Gains Losses	-63,245	-127,972	0
Gain Loss On Investment Securities	-63,245	-127,972	0
Net Income From Continuing Operations	44,374	157,958

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

✅ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

$54M

vs Positive

Operating Cash Flow

$148M

Latest quarter · Buffett's cash reality check

ROIC

N/A

Based on latest annual operating income

Market Cap / Net Assets

nanx

Net Assets: N/A

Peers & Industry

No auto-detected peers for REIT - Residential. You can manually compare CPT against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

1.47%

Low — management has little skin in the game

Share Buybacks (Latest Year)

$271M

Management is returning capital to shareholders via buybacks

Leadership Team

Richard Campo

Executive Chairman of the Board

Age 70

Pay: $3,418,834

Alexander Jessett

Chief Executive Officer

Age 51

Pay: $2,140,627

Laurie Baker

President & COO

Age 60

Pay: $1,820,302

Benjamin Fraker

Executive VP, CFO & Treasurer

Kimberly Callahan

Senior Vice President of Investor Relations

Age 55

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	10.65%	10,704,750
Vanguard Portfolio Management LLC	8.30%	8,344,506
FMR, LLC	7.68%	7,725,471
Vanguard Capital Management LLC	6.53%	6,560,670
State Street Corporation	6.47%	6,503,833
Viking Global Investors, L.P.	4.49%	4,513,303
Invesco Ltd.	3.82%	3,840,027
Victory Capital Management Inc.	3.45%	3,471,862

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.78

Low volatility — more stable than the market

Short Interest

4.4% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

1.26x

Moderate leverage

Current Ratio

0.35x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $96.53 Current: $98.82 High: $119.81

Currently at 10% of 52-week range

Camden Property Trust

Metric Explanations

Full Graham Analysis

Income Highlights

Balance Sheet Highlights

Cash Flow Highlights

Quarterly Health Checks

Operating Cash Flow

ROIC

Market Cap / Net Assets

Peers & Industry

Capital Allocation & Alignment

Leadership Team

Top Institutional Holders

Risk Analysis