Kimco Realty Corporation (KIM) 10-Year Financial Performance & Capital Metrics

KIM • • REIT / Real Estate

Real EstateRetail REITsGrocery-Anchored Shopping CentersNational Grocery-Anchored REITs

AboutKimco Realty Corp. (NYSE:KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y. that is one of North America's largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets. As of September 30, 2020, the company owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70 million square feet of gross leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 60 years.Show more

Revenue $2.04B +14.2%
FFO $1.01B -12.7%
FFO/Share 1.51 -19.7%
FFO Payout 67.61% +19.4%
FFO per Share 1.51 -19.7%
NOI Margin 68.7% -0.1%
FFO Margin 49.8% -23.5%
ROE 3.99% -40.6%
ROA 2.13% -41.3%
Debt/Assets 42.24% -0.1%
Net Debt/EBITDA 6.40 +5.6%
Book Value/Share 16.14 +2.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 25.5% TTM
✓Sustainable FFO payout ratio of 67.6%
✓High NOI margin of 68.7%
✓Healthy dividend yield of 4.9%
✓Trading at only 1.3x book value

✗Weaknesses

✗Weak 3Y average ROE of 4.0%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.44%

5Y11.94%

3Y14.29%

TTM8.71%

Profit (Net Income) CAGR

10Y-0.32%

5Y0.01%

3Y-21.34%

TTM47.18%

EPS CAGR

10Y-4.7%

5Y-6.01%

3Y-29.95%

TTM46.08%

ROCE

10Y Avg3.63%

5Y Avg3.18%

3Y Avg3.35%

Latest3.3%

Peer Comparison

National Grocery-Anchored REITs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IVTInvenTrust Properties Corp.	2.23B	28.67	150.89	5.91%	40.59%	6.55%	4.53%	0.42
PECOPhillips Edison & Company, Inc.	4.44B	35.26	69.14	8.4%	10.46%	3.34%	5.4%	0.80
KIMKimco Realty Corporation	14.07B	20.78	37.78	14.22%	26.51%	5.32%	4.84%	0.79
REGRegency Centers Corporation	12.78B	69.85	33.10	9.74%	26.36%	5.83%	6.19%	0.73

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	1.17B	1.17B	1.2B	1.16B	1.16B	1.06B	1.36B	1.73B	1.78B	2.04B
Revenue Growth %	0.17%	0%	0.03%	-0.03%	-0.01%	-0.09%	0.29%	0.27%	0.03%	0.14%
Property Operating Expenses	304.48M	298.52M	311.13M	328.56M	336.95M	342.97M	417.91M	530.91M	556.72M	637.65M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	518.72M	448.12M	431.92M	253.8M	344.35M	382.31M	522.39M	631.31M	587.9M	770.27M
G&A Expenses	122.73M	117.3M	118.45M	87.8M	96.94M	93.22M	104.12M	120.14M	136.81M	138.14M
EBITDA+	688.1M	748.97M	791.83M	892.79M	755.47M	595.85M	819.61M	1.05B	1.15B	1.23B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	344.53M	355.32M	360.81M	310.38M	277.88M	263.24M	395.32M	487.91M	507.26M	603.68M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	343.57M	393.65M	431.02M	582.41M	477.59M	332.61M	424.29M	565.46M	638.78M	629.09M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	218.89M	192.55M	191.96M	183.34M	177.4M	186.9M	204.13M	226.82M	250.2M	307.81M
Interest Coverage	1.57x	2.04x	2.25x	3.18x	2.69x	1.78x	2.08x	2.49x	2.55x	2.04x
Non-Operating Income	-44.23M	40.25M	-806K	-279K	-11.81M	-140K	-524.97M	-6.18M	-255.34M	-29.93M
Pretax Income+	685.4M	464.72M	438.79M	500.06M	410.24M	1B	853.08M	171.19M	726.9M	444.86M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	60.23M	72.55M	-880K	1.6M	-3.32M	978K	3.38M	56.65M	60.95M	25.42M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	894.19M	378.85M	426.07M	497.8M	410.61M	1B	844.06M	125.98M	654.27M	410.79M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.11%	-0.58%	0.12%	0.17%	-0.18%	1.44%	-0.16%	-0.85%	4.19%	-0.37%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.78%	-0.41%	0.07%	0.03%	-0.15%	0.84%	-0.02%	-0.5%	0.89%	-0.13%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	2.00	0.79	0.87	1.18	0.75	2.25	1.60	0.16	1.02	0.55
EPS Growth %	1.25%	-0.6%	0.1%	0.36%	-0.36%	2%	-0.29%	-0.9%	5.38%	-0.46%
EPS (Basic)	2.01	0.79	0.87	1.18	0.75	2.26	1.61	0.16	1.02	0.55
Diluted Shares Outstanding	412.85M	419.71M	424.02M	421.38M	421.8M	431.63M	511.38M	617.86M	618.2M	672.14M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	11.34B	11.23B	11.76B	11B	11B	11.61B	18.46B	17.83B	18.27B	20.31B
Asset Growth %	0.1%	-0.01%	0.05%	-0.06%	-0%	0.06%	0.59%	-0.03%	0.03%	0.11%
Real Estate & Other Assets+	9.99B	10.16B	10.6B	9.91B	9.77B	9.58B	15.38B	15.44B	15.49B	17.15B
PP&E (Net)	9.06B	9.39B	9.9B	9.27B	99.13M	102.37M	147.46M	133.73M	128.26M	126.44M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	396.18M	355.61M	463.37M	328.11M	351.99M	1.22B	1.8B	1.05B	1.42B	1.03B
Cash & Equivalents	189.53M	142.49M	238.51M	143.58M	123.95M	292.95M	325.63M	146.97M	780.52M	688.62M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	0	0	0	0	0	235K	9.03M	2.86M	3.24M	1.11M
Intangible Assets	0	0	0	0	0	0	0	0	0	403.67M
Total Liabilities	6.08B	5.74B	6.23B	5.56B	6.05B	5.93B	8.34B	8.09B	8.55B	9.46B
Total Debt+	5.38B	5.07B	5.48B	4.87B	5.41B	5.45B	7.6B	7.27B	7.73B	8.58B
Net Debt	5.19B	4.92B	5.24B	4.73B	5.28B	5.16B	7.27B	7.12B	6.95B	7.89B
Long-Term Debt	5.38B	5.07B	5.48B	4.87B	5.32B	5.36B	7.48B	7.16B	7.62B	8.46B
Short-Term Borrowings	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	291.7M	292.6M	329.3M	288.4M	92.71M	96.62M	123.78M	113.68M	109.98M	117.2M
Total Current Liabilities+	265.24M	270.27M	314.59M	305.17M	296.36M	151.82M	225.67M	213.14M	221.54M	288.28M
Accounts Payable	150.06M	145.75M	185.7M	174.9M	170.08M	146.46M	220.31M	207.81M	216.24M	281.87M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	433.96M	404.14M	431.92M	385.33M	346.18M	324.54M	510.38M	601.57M	599.96M	597.46M
Total Equity+	5.27B	5.49B	5.54B	5.43B	4.95B	5.69B	10.12B	9.74B	9.73B	10.85B
Equity Growth %	0.06%	0.04%	0.01%	-0.02%	-0.09%	0.15%	0.78%	-0.04%	-0%	0.12%
Shareholders Equity	5.05B	5.26B	5.39B	5.33B	4.86B	5.61B	9.9B	9.52B	9.53B	10.65B
Minority Interest	222.36M	233.69M	144.05M	100.93M	81.96M	77.99M	224.27M	224.33M	200.27M	193.24M
Common Stock	4.13M	4.25M	4.26M	4.21M	4.32M	4.33M	6.17M	6.18M	6.2M	6.79M
Additional Paid-in Capital	5.61B	5.92B	6.15B	6.12B	5.77B	5.77B	9.59B	9.62B	9.64B	11.03B
Retained Earnings	-572.34M	-676.87M	-761.34M	-787.71M	-904.68M	-162.81M	299.12M	-119.55M	-122.58M	-398.79M
Preferred Stock	32K	32K	41K	43K	20K	20K	20K	19K	19K	21K
Return on Assets (ROA)	0.08%	0.03%	0.04%	0.04%	0.04%	0.09%	0.06%	0.01%	0.04%	0.02%
Return on Equity (ROE)	0.17%	0.07%	0.08%	0.09%	0.08%	0.19%	0.11%	0.01%	0.07%	0.04%
Debt / Assets	0.47%	0.45%	0.47%	0.44%	0.49%	0.47%	0.41%	0.41%	0.42%	0.42%
Debt / Equity	1.02x	0.92x	0.99x	0.90x	1.09x	0.96x	0.75x	0.75x	0.79x	0.79x
Net Debt / EBITDA	7.54x	6.57x	6.62x	5.30x	7.00x	8.66x	8.87x	6.76x	6.06x	6.40x
Book Value per Share	12.76	13.08	13.06	12.90	11.73	13.17	19.80	15.76	15.73	16.14

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	493.7M	592.1M	614.18M	637.94M	583.63M	589.91M	618.88M	861.11M	1.07B	1.01B
Operating CF Growth %	-0.22%	0.2%	0.04%	0.04%	-0.09%	0.01%	0.05%	0.39%	0.24%	-0.06%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	900.14M	386.14M	439.67M	498.46M	413.56M	1B	849.7M	114.53M	665.95M	419.44M
Depreciation & Amortization	344.53M	355.32M	360.81M	310.38M	277.88M	288.95M	395.32M	491.41M	507.26M	603.68M
Stock-Based Compensation	18.46M	19.07M	21.56M	18.22M	20.2M	23.68M	23.15M	26.64M	33.05M	34.9M
Other Non-Cash Items	-660.72M	-167.17M	-165.19M	-134.77M	-34.84M	-704.87M	-548.85M	224.19M	-139.06M	-14.31M
Working Capital Changes	-102.68M	-56.33M	-43.48M	-55.17M	-93.18M	-20.74M	-100.44M	4.34M	4.39M	-38.09M
Cash from Investing+	21.36M	165.38M	-294.28M	253.65M	-120.42M	-33.27M	-476.26M	-63.22M	-136.98M	-318.54M
Acquisitions (Net)	91.12M	177.1M	20.55M	-15.01M	-5.91M	-11.38M	-228.68M	-49.73M	-10.76M	-126.18M
Purchase of Investments	-190.53M	-2.47M	-9.82M	-920K	-2.74M	-500K	-67.09M	-25.96M	-343.95M	-9.47M
Sale of Investments	1000K	1000K	1000K	957K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	55.15M	921K	1.41M	38.4M	14.4M	-22.37M	-28.12M	-324.94M	-74.83M	-492.65M
Cash from Financing+	-512.85M	-804.53M	-223.87M	-986.51M	-482.84M	-387.4M	-101.14M	-982.73M	-300.7M	-781.11M
Dividends Paid	-455.83M	-474.05M	-506.17M	-529.76M	-531.57M	-379.87M	-382.13M	-544.74M	-657.46M	-685.9M
Common Dividends	-455.83M	-474.05M	-506.17M	-529.76M	-531.57M	-379.87M	-382.13M	-544.74M	-657.46M	-685.9M
Debt Issuance (Net)	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	1000K	-1000K
Share Repurchases	-175M	0	-225M	-75.13M	-575M	0	0	-3.44M	-1.49M	0
Other Financing	-122.79M	-82.58M	95.74M	8.1M	-27.57M	-54.35M	-62.09M	-81.94M	-84.7M	-74.22M
Net Change in Cash+	2.21M	-47.05M	96.03M	-94.93M	-19.63M	169.24M	41.48M	-184.83M	633.93M	-94.03M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	187.32M	189.53M	142.49M	238.51M	143.58M	123.95M	293.19M	334.66M	149.83M	783.76M
Cash at End	189.53M	142.49M	238.51M	143.58M	123.95M	293.19M	334.66M	149.83M	783.76M	689.73M
Free Cash Flow+	867.53M	592.1M	614.18M	637.94M	583.63M	589.91M	618.88M	861.11M	807.21M	681.16M
FCF Growth %	0.38%	-0.32%	0.04%	0.04%	-0.09%	0.01%	0.05%	0.39%	-0.06%	-0.16%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	3	1.75	1.86	1.92	1.63	2.93	2.42	0.99	1.88	1.51
FFO Payout Ratio	36.8%	64.57%	64.33%	65.55%	77.21%	30.05%	30.83%	88.74%	56.6%	67.61%
NOI Margin	73.9%	74.5%	74.09%	71.79%	70.92%	67.58%	69.37%	69.27%	68.78%	68.7%
Net Debt / EBITDA	7.54x	6.57x	6.62x	5.30x	7.00x	8.66x	8.87x	6.76x	6.06x	6.40x
Debt / Assets	47.39%	45.11%	46.57%	44.31%	49.18%	46.94%	41.17%	40.79%	42.28%	42.24%
Interest Coverage	1.57x	2.04x	2.25x	3.18x	2.69x	1.78x	2.08x	2.49x	2.55x	2.04x
Book Value / Share	12.76	13.08	13.06	12.9	11.73	13.17	19.8	15.76	15.73	16.14
Revenue Growth	17.39%	0.34%	2.57%	-3%	-0.5%	-8.71%	28.99%	26.61%	3.22%	14.22%

Revenue by Segment

	2010	2018
Revenues from Rental Properties	-	882.35M
Revenues from Rental Properties Growth	-	-
Reimbursement Income	-	246.38M
Reimbursement Income Growth	-	-
Other Rental Property Income	-	20.88M
Other Rental Property Income Growth	-	-
Management and Other Fee Incomes	-	15.16M
Management and Other Fee Incomes Growth	-	-
Retail Store Leases	5.9M	-
Retail Store Leases Growth	-	-

Frequently Asked Questions

Valuation & Price

Kimco Realty Corporation (KIM) has a price-to-earnings (P/E) ratio of 37.8x. This suggests investors expect higher future growth.

Growth & Financials

Kimco Realty Corporation (KIM) reported $2.13B in revenue for fiscal year 2024. This represents a 133% increase from $916.3M in 2011.

Kimco Realty Corporation (KIM) grew revenue by 14.2% over the past year. This is steady growth.

Yes, Kimco Realty Corporation (KIM) is profitable, generating $565.8M in net income for fiscal year 2024 (20.2% net margin).

Dividend & Returns

Yes, Kimco Realty Corporation (KIM) pays a dividend with a yield of 4.91%. This makes it attractive for income-focused investors.

Kimco Realty Corporation (KIM) has a return on equity (ROE) of 4.0%. This is below average, suggesting room for improvement.

Industry Metrics

Kimco Realty Corporation (KIM) generated Funds From Operations (FFO) of $1.19B in the trailing twelve months. FFO is the primary profitability metric for REITs.

Kimco Realty Corporation (KIM) offers a 4.91% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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