Saturday 10 October 2026
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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.
34.25
0.06
+0.18%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 46.76 | 67.00 | 59.05 | 60.87 | 45.28 | 54.26 | 37.66 | 25.99 | 30.71 | 27.07 |
Analyst estimates 2026–2028 Powerpack |
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| High | 77.54 | 78.33 | 77.73 | 85.29 | 88.99 | 74.05 | 79.06 | 43.48 | 43.78 | 45.03 | |||||
| People | |||||||||||||||
| People | Employees | 245 | 251 | 276 | 267 | 252 | 244 | 259 | 248 | 229 | 241 | ||||
| Revenue/emp, $m | 2.62 | 2.86 | 2.71 | 3.14 | 3.57 | 3.91 | 4.24 | 4.56 | 4.96 | 4.62 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 643 | 719 | 747 | 837 | 898 | 955 | 1,097 | 1,130 | 1,136 | 1,113 | ||||
| Gross margin, % | 73.14 | 71.80 | 71.79 | 69.69 | 70.98 | 71.77 | 70.73 | 68.92 | 67.17 | 66.41 | |||||
| EBT | 140 | 141 | 123 | 215 | 207 | 659 | 259 | 238 | 233 | 303 | |||||
| EBT margin, % | 21.75 | 19.56 | 16.48 | 25.70 | 23.07 | 68.99 | 23.66 | 21.09 | 20.51 | 27.20 | |||||
| Net income | 304 | 181 | 278 | 215 | 207 | 659 | 259 | 238 | 233 | 303 | |||||
| Depreciation | 221 | 243 | 255 | 273 | 307 | 323 | 360 | 372 | 360 | 361 | |||||
| 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 | ||||
| Earnings | 3.00 | 1.52 | 2.56 | 1.87 | 1.63 | 5.38 | 1.98 | 1.80 | 1.78 | 2.33 | |||||
| Cash flow | 3.74 | 3.54 | 4.10 | 3.75 | 4.02 | 4.44 | 5.07 | 5.14 | 4.60 | 4.79 | |||||
| Capex | (6.12) | (3.29) | (8.60) | (11.90) | (4.78) | (6.43) | (4.74) | (4.64) | (4.09) | (2.03) | |||||
| Free cash flow | (2.38) | 0.24 | (4.50) | (8.16) | (0.76) | (2.00) | 0.33 | 0.50 | 0.51 | 2.76 | |||||
| Book value | 40.71 | 40.36 | 42.02 | 44.29 | 46.60 | 48.87 | 48.58 | 48.31 | 47.67 | 47.66 | |||||
| Shares, m | 92 | 98 | 100 | 103 | 113 | 116 | 117 | 117 | 118 | 118 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 24.40 | 48.86 | 24.56 | 45.11 | 35.21 | 12.35 | 19.33 | 22.63 | 22.85 | 16.04 | ||||
| P/S | 10.52 | 10.13 | 8.41 | 10.34 | 7.24 | 8.10 | 4.08 | 4.22 | 4.19 | 3.97 | |||||
| P/B | 1.90 | 1.84 | 1.50 | 1.89 | 1.23 | 1.36 | 0.79 | 0.84 | 0.85 | 0.78 | |||||
| EV/Sales | 13.74 | 13.31 | 12.11 | 14.49 | 10.69 | 11.92 | 7.64 | 8.14 | 8.09 | 7.94 | |||||
| EV/FCF | (40.11) | 401.81 | (20.11) | (14.42) | (112.24) | (48.95) | 214.79 | 156.37 | 154.41 | 27.06 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 345 | 347 | 410 | 387 | 456 | 516 | 592 | 603 | 541 | 566 | ||||
| Capex | (565) | (323) | (860) | (1,228) | (541) | (749) | (553) | (544) | (482) | (240) | |||||
| Free cash flow | (220) | 24 | (450) | (842) | (86) | (232) | 39 | 59 | 60 | 326 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 280 | 80 | 84 | 22 | 777 | 456 | 428 | 614 | 344 | 328 | ||||
| Total debt | 2,320 | 2,347 | 2,933 | 3,553 | 3,924 | 4,069 | 4,263 | 4,928 | 4,598 | 4,589 | |||||
| Net debt | 2,070 | 2,280 | 2,762 | 3,476 | 3,101 | 3,642 | 3,916 | 4,418 | 4,432 | 4,410 | |||||
| Shareholders’ equity | 3,759 | 3,960 | 4,201 | 4,571 | 5,277 | 5,690 | 5,675 | 5,660 | 5,609 | 5,638 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 4.44 | 2.24 | 3.52 | 2.32 | 1.96 | 6.09 | 2.16 | 1.90 | 1.87 | 2.52 | ||||
| ROIC | 2.08 | 2.07 | 1.67 | 1.73 | 1.78 | 1.89 | 2.12 | 2.04 | 2.09 | 1.93 | |||||
| ROE | 8.49 | 4.02 | 6.28 | 4.41 | 3.75 | 11.43 | 4.07 | 3.72 | 3.71 | 4.89 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Kilroy Realty Corporation vs peers in Reit Office (Q) = latest quarter vs a year earlier
| 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. | $10.4B | 31.7× | 32.8× | +3.14% (above 0%: growing) | −23.21% (below 0%: shrinking) | +38.70% (above 0%: growing) | 61.43% | 28.91% | Compare |
| ARE Alexandria Real Estate Equities, Inc. | $8.0B | — (loss-making) | — (loss-making) | −13.03% (below 0%: shrinking) | n/m | −158.14% (below 0%: shrinking) | 68.72% | 17.23% | Compare |
| CDP COPT Defense Properties | $7.6B | 23.3× | 24.5× | +3.94% (above 0%: growing) | +17.65% (above 0%: growing) | +76.90% (above 0%: growing) | 60.18% | 32.03% | Compare |
| VNO Vornado Realty Trust | $6.9B | 1,681× | — (loss-making) | +4.71% (above 0%: growing) | −97.93% (below 0%: shrinking) | −90.54% (below 0%: shrinking) | 51.58% | 5.54% | Compare |
| CUZ Cousins Properties Incorporated | $4.6B | 691× | 145× | +11.83% (above 0%: growing) | +77.78% (above 0%: growing) | +811.42% (above 0%: growing) | 68.47% | 24.85% | Compare |
| KRC Kilroy Realty Corporation | $4.0B | 24.0× | 155× | −6.04% (below 0%: shrinking) | −70.69% (below 0%: shrinking) | −83.18% (below 0%: shrinking) | 65.29% | 23.99% | |
| SLG SL Green Realty Corporation | $3.7B | — (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. | $3.2B | 19.0× | 31.1× | +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 | $5.7B | 31.7× | 32.0× | +4.33% | +17.65% | +58.98% | 62.31% | 22.24% |
Kilroy Realty Corporation (KRC) key facts
- Concern: Kilroy Realty Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 2.02% from fiscal 2024.
- Strength: Net income was $302.6 million, or $2.33 per share (basic), a net margin of 24.7%.
- Kilroy Realty Corporation (KRC) is a Reit Office company in the Real Estate sector, listed on the New York Stock Exchange.
- As of October 9, 2026, KRC traded at $34.25, a market capitalization of $4.0 billion.
- At that price the stock trades at 24.0× trailing-twelve-month earnings and 3.6× sales; its P/E is higher than 51% of its own readings over the past ten years.
- Kilroy Realty Corporation pays an annual dividend of $2.16 per share, a yield of 6.31%, with a payout ratio of 152.1%.
- Return on equity was 4.89% and debt-to-equity 0.83.
- Its Piotroski F-score is 5 out of 9 for fiscal 2025.