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Kilroy Realty (KRC) Financials

KRC NYSE
FY2025 annual
Revenue $1.1B -2.0% YoY
Net Income $276.1M +30.9% YoY
EPS (Diluted) $2.32 +31.1% YoY
Free Cash Flow $450.3M +2.1% YoY
Market Cap $4.3B as of Oct 23, 2026
Price / Sales 3.9x on $1.1B revenue, FY2025
Price / Earnings 15.7x on $276.1M net income, FY2025
Price / Book 0.8x on $5.2B equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Sep 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q3 FY2026, filed Oct 23, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KRC SEC filings page.

Kilroy Realty Corp. (KRC) reported $1.1B in revenue for fiscal year 2025, down 2.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI KRC FY2025

The asset-heavy business converts accounting profit into cash, while leverage and reinvestment shape returns more than revenue growth.

In FY2025, operating cash flow reached $566M versus net income of $276M; that gap is consistent with depreciation-heavy real-estate accounting rather than cash profitability alone. Free cash flow was $450M after $116M of capital expenditures, showing that substantial cash remains after reinvestment.

Leverage eased from 0.9x debt-to-equity in FY2023 to 0.8x in FY2025, indicating the balance sheet did not compound debt alongside its asset base. FY2025 liabilities were 48.3% of assets, while interest expense had risen 10.6% from FY2023, leaving financing costs important to returns.

FY2025 revenue fell 2.0%, yet net income rose 30.9%, showing earnings improvement came without top-line growth. Net margin expanded 6.2 percentage points while capital expenditures rose 15.7%; profits improved alongside heavier reinvestment, not through sales growth.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

FFO Margin FFOGrowth Leverage Interest Cov. AFFOMargin DividendCov. 76 / 100
Financial Health Score (4 of 6 dimensions) 76/100
Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Kilroy Realty Corp.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin
81

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Kilroy Realty Corp. scores 81/100 on it among other REITs.

FFO Growth
54

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Kilroy Realty Corp. scores 54/100 on it among other REITs.

Leverage
n/a

Not available for Kilroy Realty Corp., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.

Interest Cov.
n/a

Not available for Kilroy Realty Corp., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.

AFFO Margin
85

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Kilroy Realty Corp. scores 85/100 on it among other REITs.

Dividend Cov.
84

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Kilroy Realty Corp. scores 84/100 on it among other REITs.

Piotroski F-Score Partial
5/7

Kilroy Realty Corp. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.

Earnings Quality Cash-Backed
2.05x

For every $1 of reported earnings, Kilroy Realty Corp. generates $2.05 in operating cash flow ($566.3M OCF vs $276.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$271.6M
YoY-2.9%
5Y CAGR+3.2%
10Y CAGR+4.9%

Kilroy Realty Corp. generated $271.6M in revenue in Q3 2026. This represents a decrease of 2.9% from the same quarter a year earlier.

Net Income
$15.5M
YoY-90.1%
5Y CAGR-19.9%
10Y CAGR-11.7%

Kilroy Realty Corp. reported $15.5M in net income in Q3 2026. This represents a decrease of 90.1% from the same quarter a year earlier.

EPS (Diluted)
$0.13
YoY-90.1%
5Y CAGR-20.1%
10Y CAGR-13.3%

Kilroy Realty Corp. earned $0.13 per diluted share (EPS) in Q3 2026. This represents a decrease of 90.1% from the same quarter a year earlier.

EBITDA

Not reported for Q3 2026.

Cash & Balance Sheet

Free Cash Flow
$270.1M
YoY+81.7%
5Y CAGR+10.4%
10Y CAGR+10.6%

Kilroy Realty Corp. generated $270.1M in free cash flow in Q3 2026, representing cash available after capex. This represents an increase of 81.7% from the same quarter a year earlier.

Cash & Debt
$94.3M
YoY-74.7%
5Y CAGR-23.0%
10Y CAGR-9.3%

Kilroy Realty Corp. held $94.3M in cash against $4.3B in long-term debt as of Q3 2026.

Dividends Per Share
$0.54
YoY0.0%

Kilroy Realty Corp. paid $0.54 per share in dividends in Q3 2026. That is unchanged from the same quarter a year earlier.

Shares Outstanding
116M
YoY-1.7%
5Y CAGR0.0%
10Y CAGR+2.3%

Kilroy Realty Corp. had 116M shares outstanding in Q3 2026. This represents a decrease of 1.7% from the same quarter a year earlier.

Margins & Returns

Net Margin
5.7%
YoY-50.1pp
5Y change-14.5pp
10Y change-26.3pp

Kilroy Realty Corp.'s net profit margin was 5.7% in Q3 2026, showing the share of revenue converted to profit. This is down 50.1 percentage points from the same quarter a year earlier.

Return on Equity
0.3%
YoY-2.6pp
5Y change-0.6pp
10Y change-1.3pp

Kilroy Realty Corp.'s quarterly ROE was 0.3% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 2.6 percentage points from the same quarter a year earlier.

Gross Margin

Not reported for Q3 2026.

Operating Margin

Not reported for Q3 2026.

Capital Allocation

Share Buybacks
$72.7M

Kilroy Realty Corp. spent $72.7M on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$115.0M
YoY+312.2%
5Y CAGR+34.2%
10Y CAGR+21.7%

Kilroy Realty Corp. invested $115.0M in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 312.2% from the same quarter a year earlier.

R&D Spending

Not reported for Q3 2026.

KRC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KRC quarterly income statement
MetricQ3'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$271.6M-2.9%$270.1M-0.3%$272.2M-5.0%$279.7M-3.5%$289.9M+3.3%$270.8M-2.8%$286.4M+6.5%$289.9M+2.2%
SG&A Expenses$18.4M+0.9%$20.7M+22.5%$19.5M+14.8%$18.2M+1.5%$18.5M-1.9%$16.9M-2.3%$17.0M-25.9%$18.0M-27.4%
Interest Expense$39.4M+22.5%$38.5M+23.6%$32.1M-3.3%$32.2M-11.7%$30.8M-16.1%$31.1M-19.9%$33.2M+2.8%$36.4M+22.0%
Net Income$15.5M-90.1%-$19.3M-149.4%$12.4M-79.1%$156.2M+198.3%$68.4M+39.1%$39.0M-21.9%$59.5M+25.8%$52.4M-0.7%
EPS (Basic)$0.13-90.2%-$0.16-148.5%$0.11-78.4%$1.32+200.0%$0.58+41.5%$0.33-21.4%$0.51+27.5%$0.44-2.2%
EPS (Diluted)$0.13-90.1%-$0.16-148.5%$0.11-78.0%$1.31+197.7%$0.57+39.0%$0.33-21.4%$0.50+25.0%$0.44-2.2%
Diluted Shares (Avg)117M-1.3%118M-0.9%N/A119M+0.5%119M+0.9%119M+0.6%N/A118M+0.6%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Income Tax.

KRC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KRC quarterly balance sheet
MetricQ3'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$10.5B-4.7%$10.8B-1.0%$10.9B+0.2%$11.0B-3.4%$10.9B-5.9%$10.9B-6.2%$10.9B-4.4%$11.4B-0.8%
Cash & Equivalents$94.3M-74.7%$192.9M+31.5%$179.3M+8.2%$372.4M-40.5%$193.1M-76.9%$146.7M-82.8%$165.7M-67.5%$625.4M+1.1%
Accounts Receivable$16.8M+27.5%$15.7M+34.5%$12.8M+15.7%$13.2M+17.6%$11.7M+14.6%$11.7M-12.1%$11.0M-18.9%$11.2M-1.4%
Total Liabilities$5.1B-4.4%$5.3B-0.2%$5.3B-0.2%$5.3B-8.1%$5.3B-10.7%$5.3B-11.0%$5.3B-7.9%$5.8B-0.5%
Long-Term Debt$4.3B-5.5%$4.6B-0.2%$4.6B-0.2%$4.6B-8.2%$4.6B-10.2%$4.6B-10.2%$4.6B-6.7%$5.0B+1.3%
Total Equity$5.2B-5.2%$5.3B-1.7%$5.4B+0.7%$5.5B+1.6%$5.4B-0.7%$5.4B-1.0%$5.4B-0.8%$5.4B-1.0%
Retained Earnings$10.6M-95.6%$102.9M-29.0%$188.9M+10.3%$240.8M+36.9%$149.0M-20.7%$144.9M-28.7%$171.2M-22.6%$176.0M-26.0%

Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.

KRC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KRC quarterly cash flow statement
MetricQ3'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow$385.1M+118.1%$150.7M+10.1%$109.1M+0.8%$176.6M+0.1%$143.7M+62.1%$136.9M-18.4%$108.2M-1.8%$176.3M-15.5%
Depreciation & Amortization$93.2M+6.5%$92.9M+8.3%$91.2M+4.2%$87.5M-4.8%$87.6M+0.5%$85.7M-0.8%$87.5M+3.7%$91.9M+7.8%
Stock-Based Compensation$3.9M-42.6%$4.9M+24.0%N/A$6.8M+1.5%$5.7M-17.4%$3.9M+16.1%N/A$6.7M-45.5%
Capital Expenditures$115.0M+312.2%$29.9M+40.5%$41.5M+15.6%$27.9M-4.5%$25.3M+31.7%$21.3M+33.4%$35.9M+25.9%$29.2M+22.9%
Free Cash Flow$270.1M+81.7%$120.8M+4.4%$67.6M-6.6%$148.7M+1.0%$118.4M+70.5%$115.6M-23.9%$72.3M-11.5%$147.2M-20.5%
Investing Cash Flow$48.9M-45.3%$15.0Mn/m-$229.1Mn/m$89.4Mn/m-$23.7Mn/m-$76.7M-199.8%-$91.5Mn/m-$174.4Mn/m
Financing Cash Flow-$518.8Mn/m-$152.2Mn/m-$73.1Mn/m-$86.7Mn/m-$73.6Mn/m-$79.2M-179.1%-$476.4Mn/m-$212.5M-147.3%
Dividends Paid$191.4M+196.7%$64.5M+0.3%$64.5M+0.2%$64.5M+0.8%$64.5M+0.8%$64.4M+0.7%$64.4M+0.7%$64.0M+0.2%
Share Buybacks$72.7M$72.7Mn/mN/AN/AN/A$0N/AN/A

KRC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KRC quarterly financial ratios
MetricQ3'2610-QQ1'2610-QQ4'2510-KQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Net Margin5.7%-50.1pp-7.1%-21.5pp4.6%-16.2pp55.8%+37.8pp23.6%+6.1pp14.4%-3.5pp20.8%+3.2pp18.1%-0.5pp
Return on Equity0.3%-2.6pp-0.4%-1.1pp0.2%-0.9pp2.9%+1.9pp1.3%+0.4pp0.7%-0.2pp1.1%+0.2pp1.0%0.0pp
Return on Assets0.1%-1.3pp-0.2%-0.5pp0.1%-0.4pp1.4%+1.0pp0.6%+0.2pp0.4%-0.1pp0.5%+0.1pp0.5%0.0pp
Debt-to-Equity0.840.0x0.870.0x0.850.0x0.84-0.1x0.86-0.1x0.86-0.1x0.85-0.1x0.930.0x
Liabilities-to-Equity0.980.0x1.000.0x0.970.0x0.97-0.1x0.98-0.1x0.99-0.1x0.98-0.1x1.070.0x
Asset Turnover0.030.0x0.030.0x0.020.0x0.030.0x0.030.0x0.020.0x0.030.0x0.030.0x
FCF Margin99.5%+46.3pp44.7%+2.0pp24.8%-0.4pp53.1%+2.4pp40.9%+16.1pp42.7%-11.8pp25.3%-5.1pp50.8%-14.5pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Kilroy Realty Corp. KRC FY2025 $1.1B $276.1M 24.8% $4.3B 76/100
Cousins Properties Inc. CUZ FY2025 $993.8M $40.5M 4.1% $4.8B 70/100
SL Green Realty Corp. SLG FY2025 $1.0B -$96.9M -9.7% $3.6B 41/100
Douglas Emmett, Inc. DEI FY2025 $1.0B $16.3M 1.6% $1.7B 61/100
Vornado Realty Trust VNO FY2025 $1.8B $905.0M 50.0% $6.5B 88/100
COPT Defense Properties CDP FY2025 $763.9M $151.7M 19.9% $3.8B 74/100

Frequently Asked Questions

What is Kilroy Realty Corp.'s annual revenue?

Kilroy Realty Corp. (KRC) reported $1.1B in total revenue for fiscal year 2025. This represents a -2.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Kilroy Realty Corp.'s revenue growing?

Kilroy Realty Corp. (KRC) revenue declined by 2.0% year-over-year, from $1.1B to $1.1B in fiscal year 2025.

Is Kilroy Realty Corp. profitable?

Yes, Kilroy Realty Corp. (KRC) reported a net income of $276.1M in fiscal year 2025, with a net profit margin of 24.8%.

Kilroy Realty Corp. (KRC) reported diluted earnings per share of $2.32 for fiscal year 2025. This represents a 31.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, Kilroy Realty Corp. (KRC) had $179.3M in cash and equivalents against $4.6B in long-term debt.

Kilroy Realty Corp. (KRC) had a net profit margin of 24.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Kilroy Realty Corp. (KRC) paid $2.16 per share in dividends during fiscal year 2025.

Kilroy Realty Corp. (KRC) has a return on equity of 5.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Kilroy Realty Corp. (KRC) generated $450.3M in free cash flow during fiscal year 2025. This represents a 2.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Kilroy Realty Corp. (KRC) generated $566.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Kilroy Realty Corp. (KRC) had $10.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Kilroy Realty Corp. (KRC) invested $116.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Kilroy Realty Corp. (KRC) had 119M shares outstanding as of fiscal year 2025.

Kilroy Realty Corp. (KRC) had a debt-to-equity ratio of 0.85 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

Kilroy Realty Corp. (KRC) had a liabilities-to-equity ratio of 0.97 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

Kilroy Realty Corp. (KRC) had a return on assets of 2.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Kilroy Realty Corp. (KRC) trades at 15.7x earnings, its market capitalization divided by $276.1M net income, FY2025. The market capitalization is $4.3B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Kilroy Realty Corp. (KRC) trades at 3.9x sales, its market capitalization divided by $1.1B revenue, FY2025. The market capitalization is $4.3B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Kilroy Realty Corp. (KRC) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Kilroy Realty Corp. (KRC) has an earnings quality ratio of 2.05x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Kilroy Realty Corp. (KRC) scores 76 out of 100 on our Financial Health Score, indicating strong standing within its REITs peer group. The score is the average of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Kilroy Realty Corp. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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