COPT Defense Properties (CDP) vs Kilroy Realty Corporation (KRC)

COPT Defense Properties and Kilroy Realty Corporation are both Reit Office companies. COPT Defense Properties is the larger, with a market value of $7.3B against $4.3B — 1.7× the size. COPT Defense Properties trades at the lower P/E: 22.1× against 149×. COPT Defense Properties grew revenue faster over the last twelve months: 7.22% against −3.61%. COPT Defense Properties has the higher net margin (21.2% vs 2.55%) and the higher return on invested capital (3.66% vs 1.60%). Both pay a dividend; Kilroy Realty Corporation yields more (6.03% vs 3.86%). Across the 23 metrics below, COPT Defense Properties leads on 13 and Kilroy Realty Corporation on 10.

Valuation

Metric CDP KRC Reit Office median
P/E 22.14 149.29 28.35
P/S 4.60 3.84 2.77
P/B 2.32 0.77 0.82
Price to free cash flow 19.43 13.21 13.95
EV/EBITDA 14.79 13.42 12.41
EV/Sales 7.78 7.78 6.90
Earnings yield 4.52% 0.67% (2.06%)
Free cash flow yield 5.15% 7.57% 6.73%

Profitability

Metric CDP KRC Reit Office median
Gross margin 57.64% 64.40% 60.87%
Operating margin 30.23% 22.86% 17.78%
Net margin 21.17% 2.55% (2.87%)
Free cash flow margin 23.68% 29.05% 14.89%
Return on equity 10.80% 0.50% (1.07%)
Return on assets 3.81% 0.26% (0.34%)
Return on invested capital 3.66% 1.60% 1.33%

Growth

Metric CDP KRC Reit Office median
Revenue growth (TTM) 7.22% (3.61%) 2.67%
EPS growth (last fiscal year) 8.94% 29.61% 8.85%
Revenue growth, 5-year CAGR 5.58% 4.37% 3.91%
Net income growth, 5-year CAGR 9.36% 8.28% 0.00%

Health

Metric CDP KRC Reit Office median
Debt to equity 1.62 0.81 1.24
Current ratio 1.98 1.72 1.98
Net debt to EBITDA 6.21 6.56 6.86

Dividend

Metric CDP KRC Reit Office median
Dividend yield 3.86% 6.03% 4.16%
Payout ratio 0.85 9.00 3.34

Size

Metric CDP KRC Reit Office median
Market cap 7.31b 4.26b 1.22b

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