KIMCO REALTY CORP KIM
The Company is the leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The executive officers are engaged in the day-to-day management and operation of real estate exclusively with the Company, with nearly all operating functions, including leasing, asset management, maintenance, construction, legal, finance and accounting, administered by the Company. The Company's mission is to create destinations for everyday living that inspire a sense of community and deliver value to our many stakeholders.
The Company began operations through its predecessor, The Kimco Corporation, which was organized in 1966 upon the contribution of several shopping center properties owned by its principal stockholders. In 1973, these principals formed the Company as a Delaware corporation, and, in 1985, the operations of The Kimco Corporation were merged into the Company. The Company completed its initial public stock offering (the "IPO") in November 1991, and, commencing with its taxable year which began January 1, 1992, elected to qualify as a REIT in accordance with Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"). To qualify as a REIT, the Company must meet several organizational and operational requirements and is required to distribute annually at least 90% of its REIT taxable income, determined without regard to the dividends paid deduction and excluding any net capital gain. In addition, the Company will be subject to federal income tax at regular corporate rates to the extent that it distributes for any year less than 100% of its REIT taxable income, determined without regard to the dividends paid deduction and including any net capital gain. The Company reorganized into an UPREIT structure in January 2023. If, as the Company believes, it is organized and operates in such a manner so as to qualify and remain qualified as a REIT under the Code, the Company generally will not be subject to U.S. federal income tax, provided that distributions to its stockholders equal at least the amount of its REIT taxable income, as defined in the Code. The Company maintains certain subsidiaries that made joint elections with the Company to be treated as taxable REIT subsidiaries ("TRSs"). This permits the Company to engage in certain business activities that a REIT may not conduct directly, by conducting such business activities through such TRSs. A TRS is subject to federal and state taxes on its income, and the Company includes a provision for taxes in its consolidated financial statements. In 1994, the Company's predecessor reorganized as a Maryland corporation. In March 2006, the Company was added to the S&P 500 Index, an index containing the stock of 500 Large Cap companies, most of which are U.S. corporations. The Company's common stock, Class L Depositary Shares, Class M Depositary Shares, and Class N Depositary Shares are traded on the New York Stock Exchange ("NYSE") under the trading symbols "KIM", "KIMprL", "KIMprM" and "KIMprN", respectively.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.14B | $2.04B | $1.78B | $1.73B | $1.36B | $13.0M | $16.6M | $15.2M | $17.0M | $1.17B |
| SG&A | $133.0M | $138.1M | $136.8M | $119.5M | $104.1M | $93.2M | $96.9M | $87.8M | $91.7M | $86.8M |
| Total operating expenses | $1.43B | $1.41B | $1.22B | $1.18B | $971.1M | $731.8M | $760.5M | $812.2M | $863.4M | $870.0M |
| Operating income | $770.8M | $629.1M | $638.8M | $565.5M | $424.3M | $332.6M | $477.6M | $582.4M | $431.0M | $393.6M |
| Interest expense | $330.2M | $307.8M | $250.2M | $226.8M | $204.1M | $186.9M | $177.4M | $183.3M | $192.0M | $192.5M |
| Pre-tax income | $493.6M | $351.2M | $643.9M | $44.3M | $745.1M | $927.9M | $312.0M | $399.3M | $239.9M | $160.8M |
| Income tax | $1.0M | $25.4M | $61.0M | $56.7M | $3.4M | $978.0K | $3.3M | $1.6M | $880.0K | $78.6M |
| Net income | $554.4M | $375.7M | $629.3M | $100.8M | $818.6M | $1.00B | $410.6M | $497.8M | $426.1M | $378.9M |
| EPS, basic | — | — | — | — | — | — | — | 1.02 | 0.87 | 0.79 |
| EPS, diluted | — | — | — | — | — | — | — | 1.02 | 0.87 | 0.79 |
| Shares, diluted (wtd. avg.) | 675.3M | 672.1M | 618.2M | 617.9M | 511.4M | 431.6M | 421.8M | 421.4M | 424.0M | 419.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $211.6M | $688.6M | $780.5M | $147.0M | $325.6M | $293.0M | $123.9M | $143.6M | $238.5M | $142.5M |
| Other intangibles | $1.23B | $1.25B | — | — | — | — | — | — | — | — |
| Total assets | $19.69B | $20.31B | $18.27B | $17.83B | $18.46B | $11.61B | $11.00B | $11.00B | $11.76B | $11.23B |
| Long-term debt | $7.72B | $7.96B | $7.26B | $6.78B | $7.03B | $5.04B | $4.83B | $4.38B | $4.60B | $3.93B |
| Total liabilities | $9.12B | $9.46B | $8.55B | $8.09B | $8.34B | $5.93B | $6.05B | $5.56B | $6.23B | $5.74B |
| Retained earnings | -$528.7M | -$398.8M | -$122.6M | -$119.5M | $299.1M | — | — | — | — | — |
| Total equity | $10.39B | $10.65B | $9.65B | $9.65B | $10.11B | $5.67B | $4.93B | $5.41B | $5.53B | $5.40B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.12B | $1.01B | $1.07B | $861.1M | $618.9M | $589.9M | $583.6M | $637.9M | $614.2M | $592.1M |
| Depreciation and amortisation | $627.1M | $603.7M | $507.3M | $505.0M | $395.3M | $289.0M | $277.9M | $310.4M | $360.8M | $355.3M |
| Stock-based compensation | $33.2M | $34.9M | $33.1M | $26.6M | $23.1M | $23.7M | $20.2M | $18.2M | $21.6M | $19.1M |
| Capital expenditure | $18.4M | — | — | — | — | — | — | $290.9M | $206.8M | $143.5M |
| Investing cash flow | -$376.8M | -$318.5M | -$137.0M | -$63.2M | -$476.3M | -$33.3M | -$120.4M | $253.6M | -$294.3M | $165.4M |
| Financing cash flow | -$1.22B | -$781.1M | -$300.7M | -$982.7M | -$101.1M | -$387.4M | -$482.8M | -$986.5M | -$223.9M | -$804.5M |
| Dividends paid | $711.7M | $682.8M | $654.4M | $542.3M | $382.1M | $379.9M | $531.6M | $529.8M | $506.2M | $474.0M |
| Buybacks | $120.3M | $0 | $0 | — | — | $0 | $0 | $75.1M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001206774-26-000197.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.17B | $17.0M | $15.2M | $16.6M | $13.0M | $1.36B | $1.73B | $1.78B | $2.04B | $2.14B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $378.9M | $426.1M | $497.8M | $410.6M | $1.00B | $818.6M | $100.8M | $629.3M | $375.7M | $554.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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