KILROY REALTY CORP KRC
Kilroy Realty Corporation (the "Company") is a self-administered real estate investment trust ("REIT") active in premier office, life science, and mixed-use property types in the United States. Our approach to modern business environments is designed to drive creativity and productivity for some of the world's leading technology, media, life science, and business services companies and we have been consistently recognized for our leadership in sustainability and building operations. We own, develop, acquire, and manage real estate assets, consisting primarily of premier office and life science properties in the San Francisco Bay Area, Los Angeles, Seattle, San Diego, and Austin, which are markets we believe have strategic advantages and strong barriers to entry. The Company qualifies as a REIT under the Internal Revenue Code of 1986, as amended (the "Code").
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 | $19.1M | $17.5M | $12.0M | $11.0M | $6.0M | $6.1M | $11.0M | $9.7M | $719.0M | $642.6M |
| SG&A | $73.1M | $71.1M | $94.3M | $93.6M | $92.7M | $99.3M | $88.1M | $90.5M | $60.6M | $57.0M |
| Total operating expenses | $801.7M | $800.1M | $800.6M | $772.3M | $672.4M | $659.3M | $615.1M | $561.2M | $512.5M | $448.7M |
| Interest expense | $126.3M | $145.3M | $114.2M | $84.3M | $78.6M | $70.8M | $48.5M | $49.7M | $66.0M | $55.8M |
| Pre-tax income | — | $233 | $238 | $259 | $659 | $207.3M | $215.2M | $277.9M | $164.6M | $293.8M |
| Income tax | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | $303 | $233 | $238 | $259 | $659 | $207.3M | $215.2M | $277.9M | $164.6M | $293.8M |
| EPS, basic | 2.33 | 1.78 | 1.80 | 1.98 | 5.38 | 1.63 | 1.87 | 2.56 | 1.52 | 3.00 |
| EPS, diluted | 2.32 | 1.77 | 1.80 | 1.97 | 5.36 | 1.63 | 1.86 | 2.55 | 1.51 | 2.97 |
| Shares, diluted (wtd. avg.) | $118.8M | $118.2M | $117.5M | $117.2M | $116.9M | $113.7M | $103.8M | $100.5M | $98.7M | $93.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $179.3M | $165.7M | $510.2M | $347.4M | $414.1M | $732.0M | $60.0M | $51.6M | $57.6M | $193.4M |
| Receivables | $12.8M | $11.0M | $13.6M | $20.6M | $14.4M | $12.0M | $26.5M | $20.2M | — | — |
| Total assets | $10.92B | $10.90B | $11.40B | $10.80B | $10.58B | $10.00B | $8.90B | $7.77B | — | — |
| Total liabilities | $5.28B | $5.29B | $5.74B | $5.12B | $4.89B | $4.72B | $4.33B | $3.56B | — | — |
| Retained earnings | $188.9M | $171.2M | $221.1M | $265.1M | $283.7M | -$103.1M | -$58.5M | -$48.1M | — | — |
| Total equity | $5.42B | $5.38B | $5.66B | $5.67B | $5.69B | $5.28B | $4.57B | $4.20B | $3.96B | $3.76B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $566.3M | $541.1M | $602.6M | $592.2M | $516.4M | $455.6M | $386.5M | $410.0M | $347.0M | $345.1M |
| Depreciation and amortisation | $349.3M | $349.8M | $348.1M | $350.7M | $303.8M | $290.4M | $268.0M | $249.9M | $241.9M | $213.2M |
| Stock-based compensation | $19.1M | $17.7M | $36.9M | $28.3M | $33.8M | $30.2M | $27.0M | $27.9M | $19.0M | $21.1M |
| Capital expenditure | $116.0M | $100.3M | $97.4M | $92.8M | $120.6M | $129.5M | $147.7M | $166.4M | $88.4M | $112.0M |
| Investing cash flow | -$240.0M | -$225.0M | -$800.4M | -$553.2M | -$747.9M | -$542.1M | -$1.23B | -$808.9M | -$359.1M | -$579.4M |
| Financing cash flow | -$312.7M | -$660.6M | $360.6M | -$118.7M | -$164.6M | $833.3M | $747.1M | $503.1M | -$171.2M | $427.3M |
| Dividends paid | $257.9M | $256.3M | $255.4M | $247.6M | $237.4M | $224.6M | $196.3M | $179.4M | $340.7M | $137.4M |
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 0001193125-26-149727.
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