Comprehensive Stock Comparison
Compare Saul Centers, Inc. (BFS) vs Kimco Realty Corporation (KIM) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | KIM | 14.2% revenue growth vs BFS's 4.5% |
| Value | KIM | Lower P/E (30.4x vs 33.4x) |
| Quality / Margins | KIM | 27.3% net margin vs BFS's 13.8% |
| Stability / Safety | BFS | Beta 0.40 vs KIM's 0.70 |
| Dividends | BFS | 6.9% yield, vs KIM's 4.3% |
| Momentum (1Y) | KIM | +11.1% vs BFS's -2.7% |
| Efficiency (ROA) | KIM | 3.0% ROA vs BFS's 1.8%, ROIC 2.7% vs 4.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Saul Centers is a real estate investment trust that owns and operates a portfolio of shopping centers and mixed-use properties primarily in the Washington, DC/Baltimore region. It generates revenue primarily through rental income from tenants in its properties — with about 85% coming from the DC/Baltimore metro area — supplemented by property management fees. The company's competitive advantage lies in its concentrated geographic focus on the affluent and stable DC/Baltimore market, which provides consistent tenant demand and rental income.
Kimco Realty is a real estate investment trust that owns and operates open-air, grocery-anchored shopping centers and mixed-use properties across the United States. It generates revenue primarily through collecting rent from retail tenants—with grocery stores serving as anchor tenants that drive consistent foot traffic—and earns additional income from property management and development services. The company's competitive advantage lies in its strategic focus on grocery-anchored centers in high-density metropolitan markets, which provides recession-resistant cash flow due to the essential nature of grocery retail.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
BFS leads in 4 of 6 categories (Financial Metrics, Valuation Metrics). KIM leads in 1 (Total Returns). 1 tied.
Financial Metrics (TTM)
KIM is the larger business by revenue, generating $2.1B annually — 7.6x BFS's $283M. KIM is the more profitable business, keeping 27.3% of every revenue dollar as net income compared to BFS's 13.8%. On growth, BFS holds the edge at +7.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | BFSSaul Centers, Inc. | KIMKimco Realty Corp… |
|---|---|---|
| RevenueTrailing 12 months | $283M | $2.1B |
| EBITDAEarnings before interest/tax | $202M | $1.1B |
| Net IncomeAfter-tax profit | $39M | $584M |
| Free Cash FlowCash after capex | $106M | $630M |
| Gross MarginGross profit ÷ Revenue | +75.9% | +69.1% |
| Operating MarginEBIT ÷ Revenue | +51.2% | +36.0% |
| Net MarginNet income ÷ Revenue | +13.8% | +27.3% |
| FCF MarginFCF ÷ Revenue | +37.6% | +29.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +7.0% | +3.2% |
| EPS Growth (YoY)Latest quarter vs prior year | -28.3% | -4.3% |
Valuation Metrics
At 20.9x trailing earnings, BFS trades at a 51% valuation discount to KIM's 42.8x P/E. On an enterprise value basis, BFS's 13.7x EV/EBITDA is more attractive than KIM's 19.4x.
| Metric | BFSSaul Centers, Inc. | KIMKimco Realty Corp… |
|---|---|---|
| Market CapShares × price | $835M | $16.0B |
| Enterprise ValueMkt cap + debt − cash | $2.4B | $23.9B |
| Trailing P/EPrice ÷ TTM EPS | 20.91x | 42.82x |
| Forward P/EPrice ÷ next-FY EPS est. | 33.41x | 30.43x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 13.73x | 19.38x |
| Price / SalesMarket cap ÷ Revenue | 3.10x | 7.86x |
| Price / BookPrice ÷ Book value/share | 1.64x | 1.46x |
| Price / FCFMarket cap ÷ FCF | 6.89x | 23.49x |
Profitability & Efficiency
BFS delivers a 8.1% return on equity — every $100 of shareholder capital generates $8 in annual profit, vs $6 for KIM. KIM carries lower financial leverage with a 0.79x debt-to-equity ratio, signaling a more conservative balance sheet compared to BFS's 3.06x. On the Piotroski fundamental quality scale (0–9), KIM scores 5/9 vs BFS's 4/9, reflecting solid financial health.
| Metric | BFSSaul Centers, Inc. | KIMKimco Realty Corp… |
|---|---|---|
| ROE (TTM)Return on equity | +8.1% | +5.5% |
| ROA (TTM)Return on assets | +1.8% | +3.0% |
| ROICReturn on invested capital | +4.7% | +2.7% |
| ROCEReturn on capital employed | +6.9% | +3.3% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 |
| Debt / EquityFinancial leverage | 3.06x | 0.79x |
| Net DebtTotal debt minus cash | $1.5B | $7.9B |
| Cash & Equiv.Liquid assets | $10M | $689M |
| Total DebtShort + long-term debt | $1.5B | $8.6B |
| Interest CoverageEBIT ÷ Interest expense | 2.26x | 2.04x |
Total Returns (with DRIP)
A $10,000 investment in KIM five years ago would be worth $15,116 today (with dividends reinvested), compared to $12,459 for BFS. Over the past 12 months, KIM leads with a +11.1% total return vs BFS's -2.7%. The 3-year compound annual growth rate (CAGR) favors KIM at 8.8% vs BFS's 1.5% — a key indicator of consistent wealth creation.
| Metric | BFSSaul Centers, Inc. | KIMKimco Realty Corp… |
|---|---|---|
| YTD ReturnYear-to-date | +9.9% | +17.4% |
| 1-Year ReturnPast 12 months | -2.7% | +11.1% |
| 3-Year ReturnCumulative with dividends | +4.7% | +28.8% |
| 5-Year ReturnCumulative with dividends | +24.6% | +51.2% |
| 10-Year ReturnCumulative with dividends | +14.3% | +23.3% |
| CAGR (3Y)Annualised 3-year return | +1.5% | +8.8% |
Risk & Volatility
BFS is the less volatile stock with a 0.40 beta — it tends to amplify market swings less than KIM's 0.70 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. KIM currently trades 98.5% from its 52-week high vs BFS's 89.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BFSSaul Centers, Inc. | KIMKimco Realty Corp… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.40x | 0.70x |
| 52-Week HighHighest price in past year | $37.89 | $23.91 |
| 52-Week LowLowest price in past year | $29.16 | $17.93 |
| % of 52W HighCurrent price vs 52-week peak | +89.9% | +98.5% |
| RSI (14)Momentum oscillator 0–100 | 56.0 | 76.3 |
| Avg Volume (50D)Average daily shares traded | 56K | 4.4M |
Analyst Outlook
Wall Street rates BFS as "Hold" and KIM as "Hold". Consensus price targets imply 27.6% upside for BFS (target: $44) vs 2.5% for KIM (target: $24). For income investors, BFS offers the higher dividend yield at 6.92% vs KIM's 4.33%.
| Metric | BFSSaul Centers, Inc. | KIMKimco Realty Corp… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $43.50 | $24.14 |
| # AnalystsCovering analysts | 7 | 36 |
| Dividend YieldAnnual dividend ÷ price | +6.9% | +4.3% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $2.36 | $1.02 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Saul Centers, Inc. (BFS) | 100 | 71.96 | -28.0% |
| Kimco Realty Corpor… (KIM) | 100 | 116.89 | +16.9% |
Kimco Realty Corpor… (KIM) returned +51% over 5 years vs Saul Centers, Inc. (BFS)'s +25%. A $10,000 investment in KIM 5 years ago would be worth $15,116 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Saul Centers, Inc. (BFS) | $209M | $269M | +28.6% |
| Kimco Realty Corpor… (KIM) | $1.2B | $2.0B | +74.6% |
Saul Centers, Inc.'s revenue grew from $209M (2015) to $269M (2024) — a 2.8% CAGR. Kimco Realty Corporation's revenue grew from $1.2B (2015) to $2.0B (2024) — a 6.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Saul Centers, Inc. (BFS) | 20.3% | 18.8% | -7.3% |
| Kimco Realty Corpor… (KIM) | 76.6% | 20.2% | -73.7% |
Saul Centers, Inc.'s net margin went from 20% (2015) to 19% (2024). Kimco Realty Corporation's net margin went from 77% (2015) to 20% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Saul Centers, Inc. (BFS) | 37.9 | 23.8 | -37.2% |
| Kimco Realty Corpor… (KIM) | 20.9 | 42.6 | +103.8% |
Saul Centers, Inc. has traded in a 21x–38x P/E range over 8 years; current trailing P/E is ~21x. Kimco Realty Corporation has traded in a 7x–132x P/E range over 8 years; current trailing P/E is ~43x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Saul Centers, Inc. (BFS) | 1.42 | 1.63 | +14.8% |
| Kimco Realty Corpor… (KIM) | 2 | 0.55 | -72.5% |
Saul Centers, Inc.'s EPS grew from $1.42 (2015) to $1.63 (2024) — a 2% CAGR. Kimco Realty Corporation's EPS grew from $2.00 (2015) to $0.55 (2024) — a -13% CAGR.
Chart 6Free Cash Flow — 5 Years
Saul Centers, Inc. generated $121M FCF in 2024 (+2% vs 2021). Kimco Realty Corporation generated $681M FCF in 2024 (+10% vs 2021).
BFS vs KIM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is BFS or KIM a better buy right now?
Saul Centers, Inc. (BFS) offers the better valuation at 20.9x trailing P/E (33.4x forward), making it the more compelling value choice. Analysts rate Saul Centers, Inc. (BFS) a "Hold" — based on 7 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BFS or KIM?
On trailing P/E, Saul Centers, Inc. (BFS) is the cheapest at 20.9x versus Kimco Realty Corporation at 42.8x. On forward P/E, Kimco Realty Corporation is actually cheaper at 30.4x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — BFS or KIM?
Over the past 5 years, Kimco Realty Corporation (KIM) delivered a total return of +51.2%, compared to +24.6% for Saul Centers, Inc. (BFS). A $10,000 investment in KIM five years ago would be worth approximately $15K today (assuming dividends reinvested). Over 10 years, the gap is even starker: KIM returned +23.3% versus BFS's +14.3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BFS or KIM?
By beta (market sensitivity over 5 years), Saul Centers, Inc. (BFS) is the lower-risk stock at 0.40β versus Kimco Realty Corporation's 0.70β — meaning KIM is approximately 74% more volatile than BFS relative to the S&P 500. On balance sheet safety, Kimco Realty Corporation (KIM) carries a lower debt/equity ratio of 79% versus 3% for Saul Centers, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — BFS or KIM?
Kimco Realty Corporation (KIM) is the more profitable company, earning 20.2% net margin versus 18.8% for Saul Centers, Inc. — meaning it keeps 20.2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BFS leads at 45.1% versus 30.9% for KIM. At the gross margin level — before operating expenses — BFS leads at 73.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is BFS or KIM more undervalued right now?
On forward earnings alone, Kimco Realty Corporation (KIM) trades at 30.4x forward P/E versus 33.4x for Saul Centers, Inc. — 3.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BFS: 27.6% to $43.50.
07Which pays a better dividend — BFS or KIM?
All stocks in this comparison pay dividends. Saul Centers, Inc. (BFS) offers the highest yield at 6.9%, versus 4.3% for Kimco Realty Corporation (KIM).
08Is BFS or KIM better for a retirement portfolio?
For long-horizon retirement investors, Saul Centers, Inc. (BFS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.40), 6.9% yield). Both have compounded well over 10 years (BFS: +14.3%, KIM: +23.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between BFS and KIM?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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