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KRC vs BXP
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Office
KRC vs BXP — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | REIT - Office | REIT - Office |
| Market Cap | $4.16B | $9.50B |
| Revenue (TTM) | $1.11B | $3.48B |
| Net Income (TTM) | $276M | $277M |
| Gross Margin | 67.0% | 60.6% |
| Operating Margin | 28.4% | 42.3% |
| Forward P/E | 84.8x | 35.9x |
| Total Debt | $4.84B | $17.36B |
| Cash & Equiv. | $179M | $1.48B |
KRC vs BXP — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Kilroy Realty Corpo… (KRC) | 100 | 61.4 | -38.6% |
| BXP, Inc. (BXP) | 100 | 69.6 | -30.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: KRC vs BXP
Each card shows where this stock fits in a portfolio — not just who wins on paper.
KRC carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 0 yrs, beta 0.83, yield 6.2%
- -13.2% 10Y total return vs BXP's -26.7%
- Lower volatility, beta 0.83, Low D/E 85.9%, current ratio 4.24x
BXP is the clearest fit if your priority is growth exposure.
- Rev growth 2.2%, EPS growth 18.3%, 3Y rev CAGR 3.9%
- 2.2% FFO/revenue growth vs KRC's -2.0%
- Lower P/E (35.9x vs 84.8x)
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 2.2% FFO/revenue growth vs KRC's -2.0% | |
| Value | Lower P/E (35.9x vs 84.8x) | |
| Quality / Margins | 24.8% margin vs BXP's 8.0% | |
| Stability / Safety | Beta 0.83 vs BXP's 0.96, lower leverage | |
| Dividends | 6.8% yield, vs KRC's 6.2% | |
| Momentum (1Y) | +20.9% vs BXP's -1.7% | |
| Efficiency (ROA) | 2.5% ROA vs BXP's 1.1%, ROIC 2.3% vs 6.1% |
KRC vs BXP — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
KRC vs BXP — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
BXP leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
BXP is the larger business by revenue, generating $3.5B annually — 3.1x KRC's $1.1B. KRC is the more profitable business, keeping 24.8% of every revenue dollar as net income compared to BXP's 8.0%. On growth, BXP holds the edge at +2.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $1.1B | $3.5B |
| EBITDAEarnings before interest/tax | $661M | $2.4B |
| Net IncomeAfter-tax profit | $276M | $277M |
| Free Cash FlowCash after capex | $7M | $690M |
| Gross MarginGross profit ÷ Revenue | +67.0% | +60.6% |
| Operating MarginEBIT ÷ Revenue | +28.4% | +42.3% |
| Net MarginNet income ÷ Revenue | +24.8% | +8.0% |
| FCF MarginFCF ÷ Revenue | +0.6% | +19.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -4.9% | +2.2% |
| EPS Growth (YoY)Latest quarter vs prior year | -78.0% | +2.1% |
Valuation Metrics
BXP leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
At 15.1x trailing earnings, KRC trades at a 56% valuation discount to BXP's 34.4x P/E. On an enterprise value basis, BXP's 8.9x EV/EBITDA is more attractive than KRC's 13.4x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $4.2B | $9.5B |
| Enterprise ValueMkt cap + debt − cash | $8.8B | $25.4B |
| Trailing P/EPrice ÷ TTM EPS | 15.13x | 34.39x |
| Forward P/EPrice ÷ next-FY EPS est. | 84.80x | 35.88x |
| PEG RatioP/E ÷ EPS growth rate | 2.07x | — |
| EV / EBITDAEnterprise value multiple | 13.36x | 8.91x |
| Price / SalesMarket cap ÷ Revenue | 3.74x | 2.73x |
| Price / BookPrice ÷ Book value/share | 0.74x | 1.24x |
| Price / FCFMarket cap ÷ FCF | — | 13.77x |
Profitability & Efficiency
KRC leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
KRC delivers a 4.9% return on equity — every $100 of shareholder capital generates $5 in annual profit, vs $4 for BXP. KRC carries lower financial leverage with a 0.86x debt-to-equity ratio, signaling a more conservative balance sheet compared to BXP's 2.26x. On the Piotroski fundamental quality scale (0–9), BXP scores 6/9 vs KRC's 5/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +4.9% | +3.6% |
| ROA (TTM)Return on assets | +2.5% | +1.1% |
| ROICReturn on invested capital | +2.3% | +6.1% |
| ROCEReturn on capital employed | +3.0% | +7.8% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.86x | 2.26x |
| Net DebtTotal debt minus cash | $4.7B | $15.9B |
| Cash & Equiv.Liquid assets | $179M | $1.5B |
| Total DebtShort + long-term debt | $4.8B | $17.4B |
| Interest CoverageEBIT ÷ Interest expense | 2.51x | 1.59x |
Total Returns (Dividends Reinvested)
KRC leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in BXP five years ago would be worth $7,311 today (with dividends reinvested), compared to $6,837 for KRC. Over the past 12 months, KRC leads with a +20.9% total return vs BXP's -1.7%. The 3-year compound annual growth rate (CAGR) favors KRC at 14.0% vs BXP's 11.6% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -6.3% | -10.7% |
| 1-Year ReturnPast 12 months | +20.9% | -1.7% |
| 3-Year ReturnCumulative with dividends | +48.2% | +39.0% |
| 5-Year ReturnCumulative with dividends | -31.6% | -26.9% |
| 10-Year ReturnCumulative with dividends | -13.2% | -26.7% |
| CAGR (3Y)Annualised 3-year return | +14.0% | +11.6% |
Risk & Volatility
KRC leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
KRC is the less volatile stock with a 0.83 beta — it tends to amplify market swings less than BXP's 0.96 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.83x | 0.96x |
| 52-Week HighHighest price in past year | $45.03 | $79.33 |
| 52-Week LowLowest price in past year | $27.36 | $49.72 |
| % of 52W HighCurrent price vs 52-week peak | +77.9% | +75.4% |
| RSI (14)Momentum oscillator 0–100 | 64.2 | 59.0 |
| Avg Volume (50D)Average daily shares traded | 2.1M | 2.4M |
Analyst Outlook
BXP leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates KRC as "Hold" and BXP as "Buy". Consensus price targets imply 20.5% upside for BXP (target: $72) vs 7.5% for KRC (target: $38). For income investors, BXP offers the higher dividend yield at 6.76% vs KRC's 6.17%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $37.71 | $72.10 |
| # AnalystsCovering analysts | 28 | 42 |
| Dividend YieldAnnual dividend ÷ price | +6.2% | +6.8% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $2.17 | $4.05 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.2% | 0.0% |
BXP leads in 3 of 6 categories (Income & Cash Flow, Valuation Metrics). KRC leads in 3 (Profitability & Efficiency, Total Returns).
KRC vs BXP: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is KRC or BXP a better buy right now?
For growth investors, BXP, Inc.
(BXP) is the stronger pick with 2. 2% revenue growth year-over-year, versus -2. 0% for Kilroy Realty Corporation (KRC). Kilroy Realty Corporation (KRC) offers the better valuation at 15. 1x trailing P/E (84. 8x forward), making it the more compelling value choice. Analysts rate BXP, Inc. (BXP) a "Buy" — based on 42 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 — KRC or BXP?
On trailing P/E, Kilroy Realty Corporation (KRC) is the cheapest at 15.
1x versus BXP, Inc. at 34. 4x. On forward P/E, BXP, Inc. is actually cheaper at 35. 9x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — KRC or BXP?
Over the past 5 years, BXP, Inc.
(BXP) delivered a total return of -26. 9%, compared to -31. 6% for Kilroy Realty Corporation (KRC). Over 10 years, the gap is even starker: KRC returned -13. 2% versus BXP's -26. 7%. 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 — KRC or BXP?
By beta (market sensitivity over 5 years), Kilroy Realty Corporation (KRC) is the lower-risk stock at 0.
83β versus BXP, Inc. 's 0. 96β — meaning BXP is approximately 16% more volatile than KRC relative to the S&P 500. On balance sheet safety, Kilroy Realty Corporation (KRC) carries a lower debt/equity ratio of 86% versus 2% for BXP, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — KRC or BXP?
By revenue growth (latest reported year), BXP, Inc.
(BXP) is pulling ahead at 2. 2% versus -2. 0% for Kilroy Realty Corporation (KRC). On earnings-per-share growth, the picture is similar: BXP, Inc. grew EPS 1833% year-over-year, compared to 31. 1% for Kilroy Realty Corporation. Over a 3-year CAGR, BXP leads at 3. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — KRC or BXP?
Kilroy Realty Corporation (KRC) is the more profitable company, earning 24.
8% net margin versus 7. 9% for BXP, Inc. — meaning it keeps 24. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BXP leads at 55. 7% versus 28. 4% for KRC. At the gross margin level — before operating expenses — KRC leads at 67. 0%, 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.
07Is KRC or BXP more undervalued right now?
On forward earnings alone, BXP, Inc.
(BXP) trades at 35. 9x forward P/E versus 84. 8x for Kilroy Realty Corporation — 48. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BXP: 20. 5% to $72. 10.
08Which pays a better dividend — KRC or BXP?
All stocks in this comparison pay dividends.
BXP, Inc. (BXP) offers the highest yield at 6. 8%, versus 6. 2% for Kilroy Realty Corporation (KRC).
09Is KRC or BXP better for a retirement portfolio?
For long-horizon retirement investors, Kilroy Realty Corporation (KRC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
83), 6. 2% yield). Both have compounded well over 10 years (KRC: -13. 2%, BXP: -26. 7%), 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.
10What are the main differences between KRC and BXP?
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.
In terms of investment character: KRC is a small-cap deep-value stock; BXP is a small-cap income-oriented stock. 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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