Saturday 31 October 2026 Export KRC’s income statement to Excel — free account

Kilroy Realty Corporation

Kilroy Realty Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 2.02% from fiscal 2024. In the quarter to June 2026, revenue fell 6.04%, EPS fell 70.7%, free cash flow fell 83.2% and total debt fell 1.32%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

36.18 0.23 −0.63%

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Market cap: $4.3B
P/E: 25.3×
Fwd P/E: 139×
Dividend yield: 5.97%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis

Insider Decisions trades per month

Total sells 3.06

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	1	2	3	—	—	—	1

Insider Ownership 1.14%

Capital & Financial Ratios $m

Market Cap 4,280.00

Revenue 1,094.36

Net Income 189.43

Free Cash Flow 207.57

Net Debt 4,283.32

Current Ratio 2.65

Debt/Equity 0.83

P/E ratio 25.30

Fwd P/E 139.00

P/S ratio 3.84

P/B ratio 0.77

Past 5Y EPS Growth 7.31%

This Y EPS Growth (89.45%)

Next Y EPS Growth 82.18%

Next Y revenue growth (3.74%)

Next 5Y EPS Growth (29.68%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 56.04%

10-year low 10-year high

P/S against its own 10 years 21.45%

10-year low 10-year high

P/B against its own 10 years 21.67%

10-year low 10-year high

EV/Sales against its own 10 years 23.43%

10-year low 10-year high

EV/FCF against its own 10 years 29.61%

10-year low 10-year high

Dividends

Payout Ratio 1.52

Annual Dividend Rate 2.16

Annual Dividend Yield 5.97%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.19	0.54 0.54 0.54
2025	2.16	0.54 0.54 0.54 0.54
2024	2.16	0.54 0.54 0.54 0.54
2023	2.16	0.54 0.54 0.54 0.54
2022	2.12	0.52 0.52 0.54 0.54
2021	2.04	0.50 0.50 0.52 0.52
2020	1.97	0.49 0.49 0.50 0.50
2019	1.91	0.46 0.49 0.49 0.49
2018	1.79	0.43 0.46 0.46 0.46
2017	1.65	0.38 0.43 0.43 0.43
2016	1.48	0.35 0.38 0.38 0.38

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	510	166	179	254
Receivables	475	463	438	436
Inventory	—	—	—	—
Other	—	—	—	—
	985	629	617	690

	2023	2024	2025	Q'26
Payables	371	285	289	261
ST’ Debt	—	—	—	—
Other	—	—	—	—
	371	285	289	261

Compound Annual Growth %

	10y	5y	3y
Sales	6.71%	4.37%	0.47%
Cash Flow	7.61%	4.45%	(1.48%)
Earnings	2.23%	8.28%	5.96%
Book Value	5.71%	1.33%	(0.22%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.89 Actual 0.88

0.85 0.89 0.93 0.96 1.00

Q4 FY25 Miss −0.01

Q1 FY26 Beat +0.04

Q2 FY26 Beat +0.02

Q3 FY26 Miss −0.01

Q4 FY26 — Feb 8

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	0.98	0.97	Miss by 0.01
Q1 FY26	0.87	0.91	Beat by 0.04
Q2 FY26	0.90	0.92	Beat by 0.02
Q3 FY26	0.89	0.88	Miss by 0.01
Q4 FY26	0.88	—	Reports 8 February 2027

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.16)	0.17	—	—	—
’25	0.33	0.57	1.31	0.10	2.32
’24	0.42	0.41	0.44	0.50	1.79
’23	0.48	0.47	0.45	0.40	1.80
’22	0.45	0.40	0.68	0.45	1.97
’21	4.26	0.30	0.40	0.40	5.36
’20	0.37	0.17	0.42	0.67	1.63

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	270	272	—	—	—
’25	271	290	280	272	1,113
’24	279	281	290	286	1,136
’23	293	284	284	269	1,130
’22	266	271	276	284	1,097
’21	236	226	232	261	955
’20	221	219	228	229	898

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	151	78	—	—	—
’25	137	144	177	109	566
’24	168	89	176	108	541
’23	182	101	209	110	603
’22	179	100	205	108	592
’21	144	72	191	109	516
’20	123	101	140	92	456

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	18	15	—	—	—
’25	60	92	294	(120)	326
’24	66	(26)	2	17	60
’23	61	(37)	61	(26)	59
’22	9	(43)	111	(38)	39
’21	956	(641)	(546)	(2)	(232)
’20	(88)	(62)	39	26	(86)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	46.76	67.00	59.05	60.87	45.28	54.26	37.66	25.99	30.71	27.07		(5.9%)	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	77.54	78.33	77.73	85.29	88.99	74.05	79.06	43.48	43.78	45.03		(5.9%)	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	245	251	276	267	252	244	259	248	229	241		(0.2%)	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	2.62	2.86	2.71	3.14	3.57	3.91	4.24	4.56	4.96	4.62		+6.5%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	643	719	747	837	898	955	1,097	1,130	1,136	1,113		+6.3%	1,071	1,095	1,136	+0.7%
	Gross margin, %	73.14	71.80	71.79	69.69	70.98	71.77	70.73	68.92	67.17	66.41		(6.7) pt	Powerpack Kilroy Realty Corporation’s next three years, line by line Analysts expect revenue to grow 0.7% a year to 2028 — slower than the 6.3% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	140	141	123	215	207	659	259	238	233	303		+9.0%
	EBT margin, %	21.75	19.56	16.48	25.70	23.07	68.99	23.66	21.09	20.51	27.20		+5.5 pt
	Net income	304	181	278	215	207	659	259	238	233	303		0.0%
	Depreciation	221	243	255	273	307	323	360	372	360	361		+5.6%
Per share, $
Per share, $	Revenue	6.96	7.33	7.48	8.11	7.93	8.20	9.39	9.64	9.65	9.41		+3.4%
	Earnings	3.00	1.52	2.56	1.87	1.63	5.38	1.98	1.80	1.78	2.33		(2.8%)
	Cash flow	3.74	3.54	4.10	3.75	4.02	4.44	5.07	5.14	4.60	4.79		+2.8%
	Capex	(6.12)	(3.29)	(8.60)	(11.90)	(4.78)	(6.43)	(4.74)	(4.64)	(4.09)	(2.03)		(11.5%)
	Free cash flow	(2.38)	0.24	(4.50)	(8.16)	(0.76)	(2.00)	0.33	0.50	0.51	2.76		n/m
	Book value	40.71	40.36	42.02	44.29	46.60	48.87	48.58	48.31	47.67	47.66		+1.8%
	Shares, m	92	98	100	103	113	116	117	117	118	118		+2.8%
Valuation, ×
Valuation, ×	P/E	24.40	48.86	24.56	45.11	35.21	12.35	19.33	22.63	22.85	16.04		27.1
	P/S	10.52	10.13	8.41	10.34	7.24	8.10	4.08	4.22	4.19	3.97		7.1
	P/B	1.90	1.84	1.50	1.89	1.23	1.36	0.79	0.84	0.85	0.78		1.3
	EV/Sales	13.74	13.31	12.11	14.49	10.69	11.92	7.64	8.14	8.09	7.94		10.8
	EV/FCF	(40.11)	401.81	(20.11)	(14.42)	(112.24)	(48.95)	214.79	156.37	154.41	27.06		71.9
Cash, $m
Cash, $m	Operating cash flow	345	347	410	387	456	516	592	603	541	566		+5.7%
	Capex	(565)	(323)	(860)	(1,228)	(541)	(749)	(553)	(544)	(482)	(240)		(9.1%)
	Free cash flow	(220)	24	(450)	(842)	(86)	(232)	39	59	60	326		n/m
Balance, $m
Balance, $m	Working capital	280	80	84	22	777	456	428	614	344	328		+1.8%
	Total debt	2,320	2,347	2,933	3,553	3,924	4,069	4,263	4,928	4,598	4,589		+7.9%
	Net debt	2,070	2,280	2,762	3,476	3,101	3,642	3,916	4,418	4,432	4,410		+8.8%
	Shareholders’ equity	3,759	3,960	4,201	4,571	5,277	5,690	5,675	5,660	5,609	5,638		+4.6%
Returns, %
Returns, %	ROA	4.44	2.24	3.52	2.32	1.96	6.09	2.16	1.90	1.87	2.52		(1.9) pt
	ROIC	2.08	2.07	1.67	1.73	1.78	1.89	2.12	2.04	2.09	1.93		(0.1) pt
	ROE	8.49	4.02	6.28	4.41	3.75	11.43	4.07	3.72	3.71	4.89		(3.6) pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BXP BXP, Inc.	$11.2B	33.7×	29.4×	+3.14% (above 0%: growing)	−23.21% (below 0%: shrinking)	+38.70% (above 0%: growing)	61.43%	28.91%	Compare
CDP COPT Defense Properties	$7.7B	23.2×	23.5×	+3.94% (above 0%: growing)	+17.65% (above 0%: growing)	+76.90% (above 0%: growing)	60.18%	32.03%	Compare
VNO Vornado Realty Trust	$7.2B	1,723×	— (loss-making)	+4.71% (above 0%: growing)	−97.93% (below 0%: shrinking)	−90.54% (below 0%: shrinking)	51.58%	5.54%	Compare
ARE Alexandria Real Estate Equities, Inc.	$7.1B	— (loss-making)	— (loss-making)	−13.03% (below 0%: shrinking)	n/m	−158.14% (below 0%: shrinking)	68.72%	17.23%	Compare
CUZ Cousins Properties Incorporated	$4.8B	737×	134×	+11.83% (above 0%: growing)	+77.78% (above 0%: growing)	+811.42% (above 0%: growing)	68.47%	24.85%	Compare
KRC Kilroy Realty Corporation	$4.3B	25.3×	139×	−6.04% (below 0%: shrinking)	−70.69% (below 0%: shrinking)	−83.18% (below 0%: shrinking)	65.29%	23.99%
SLG SL Green Realty Corporation	$3.9B	— (loss-making)	— (loss-making)	+9.13% (above 0%: growing)	n/m	+7,443.12% (above 0%: growing)	48.82%	7.84%	Compare
HIW Highwoods Properties, Inc.	$3.4B	20.4×	17.8×	+7.87% (above 0%: growing)	+400.00% (above 0%: growing)	+364.51% (above 0%: growing)	67.58%	26.47%	Compare
DEI Douglas Emmett, Inc.	$1.7B	— (loss-making)	— (loss-making)	+1.63% (above 0%: growing)	n/m	+41.06% (above 0%: growing)	63.19%	19.62%	Compare
Median of peers	$5.9B	33.7×	26.5×	+4.33%	+17.65%	+58.98%	62.31%	22.24%

All 19 Reit Office stocks →

Pay and ownership Proxy statement filed 9 April 2026

Ownership

Directors and executive officers, together 0.83%

The Vanguard Group, Inc. and affiliates 13.65%

BlackRock, Inc. 11.71%

D1 Capital Partners L.P., Inc. 8.90%

Cohen & Steers 8.23%

Norges Bank 7.75%

Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement