Kilroy Realty Corporation (KRC) vs SL Green Realty Corporation (SLG)

Kilroy Realty Corporation and SL Green Realty Corporation are both Reit Office companies. Kilroy Realty Corporation and SL Green Realty Corporation are of similar size ($4.0B and $3.7B). SL Green Realty Corporation has negative trailing earnings, so its P/E is not meaningful; Kilroy Realty Corporation trades at 24.0×. SL Green Realty Corporation grew revenue faster over the last twelve months: 8.46% against −3.76%. Kilroy Realty Corporation has the higher net margin (15.4% vs −18.4%) and the higher return on invested capital (1.73% vs 0.34%). Both pay a dividend; Kilroy Realty Corporation yields more (6.31% vs 4.89%). Across the 21 metrics below, Kilroy Realty Corporation leads on 17 and SL Green Realty Corporation on 4.

Valuation

Metric KRC SLG Reit Office median
P/E 23.95 n/m 36.91
P/S 3.64 3.29 2.70
P/B 0.73 0.81 0.78
Price to free cash flow 19.19 n/m 13.79
EV/EBITDA 12.78 23.09 12.55
EV/Sales 7.55 7.19 6.97
Earnings yield 4.18% (5.62%) (3.58%)
Free cash flow yield 5.21% (11.48%) 5.98%

Profitability

Metric KRC SLG Reit Office median
Gross margin 65.38% 46.91% 60.53%
Operating margin 24.68% 4.47% 16.84%
Net margin 15.39% (18.35%) (8.23%)
Free cash flow margin 18.97% (37.83%) 16.39%
Return on equity 3.05% (4.67%) (2.66%)
Return on assets 1.57% (1.65%) (0.95%)
Return on invested capital 1.73% 0.34% 1.32%

Growth

Metric KRC SLG Reit Office median
Revenue growth (TTM) (3.76%) 8.46% 1.08%
EPS growth (last fiscal year) 29.61% (2,112.50%) 8.90%
Revenue growth, 5-year CAGR 4.37% (0.96%) 4.37%
Net income growth, 5-year CAGR 8.28% 0.00% 0.00%

Health

Metric KRC SLG Reit Office median
Debt to equity 0.83 1.00 1.20
Current ratio 2.65 3.10 2.43
Net debt to EBITDA 6.56 9.87 6.91

Dividend

Metric KRC SLG Reit Office median
Dividend yield 6.31% 4.89% 4.82%
Payout ratio 1.52 — 1.67

Size

Metric KRC SLG Reit Office median
Market cap 4.02b 3.74b 1.40b

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