Latest Ratios: P/E Ratio 26.8x · EV/EBITDA 17.1x · ROE 5.5%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.0B | $13.7B | $15.7B | $13.2B | $13.1B | $12.6B | $6.5B | $8.7B | $6.2B | $7.7B | $10.6B |
| Enterprise Value | $23.4B | $22.1B | $23.6B | $20.1B | $20.2B | $19.9B | $11.6B | $14.0B | $10.9B | $12.9B | $15.5B |
| P/E Ratio → | 26.77 | 24.42 | 42.60 | 20.89 | 132.38 | 15.41 | 6.67 | 27.61 | 12.42 | 20.86 | 31.85 |
| P/S Ratio | 7.00 | 6.39 | 7.73 | 7.39 | 7.57 | 9.24 | 6.12 | 7.54 | 5.30 | 6.41 | 9.02 |
| P/B Ratio | 1.42 | 1.29 | 1.45 | 1.35 | 1.34 | 1.25 | 1.14 | 1.77 | 1.14 | 1.39 | 1.92 |
| P/FCF | 19.40 | 17.69 | 23.12 | 16.32 | 15.20 | 20.37 | 10.98 | 14.97 | 9.68 | 12.53 | 17.83 |
| P/OCF | 13.38 | 12.20 | 15.66 | 12.29 | 15.20 | 20.37 | 10.98 | 14.97 | 9.68 | 12.53 | 17.83 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.32 | 11.60 | 11.28 | 11.70 | 14.57 | 11.00 | 12.10 | 9.36 | 10.77 | 13.23 |
| EV / EBITDA | 17.06 | 16.10 | 19.17 | 17.56 | 19.19 | 24.25 | 19.53 | 18.56 | 12.21 | 16.34 | 20.67 |
| EV / EBIT | 31.11 | 22.02 | 35.87 | 22.50 | 35.36 | 20.94 | 34.97 | 28.65 | 18.71 | 29.96 | 43.81 |
| EV / FCF | — | 28.60 | 34.70 | 24.93 | 23.47 | 32.12 | 19.73 | 24.02 | 17.09 | 21.06 | 26.15 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.7% | 54.7% | 68.7% | 68.8% | 69.3% | 69.4% | 67.6% | 70.9% | 71.8% | 74.1% | 74.5% |
| Operating Margin | 35.2% | 35.2% | 30.9% | 35.8% | 32.7% | 31.1% | 31.4% | 41.2% | 50.0% | 35.9% | 33.6% |
| Net Profit Margin | 27.3% | 27.3% | 20.2% | 36.7% | 7.3% | 61.9% | 94.6% | 35.4% | 42.7% | 35.5% | 32.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.5% | 5.5% | 4.0% | 6.7% | 1.3% | 10.7% | 18.8% | 7.9% | 9.1% | 7.7% | 7.0% |
| ROA | 2.9% | 2.9% | 2.1% | 3.6% | 0.7% | 5.6% | 8.9% | 3.7% | 4.4% | 3.7% | 3.4% |
| ROIC | 3.0% | 3.0% | 2.7% | 2.9% | 2.5% | 2.3% | 2.4% | 3.5% | 4.2% | 3.1% | 2.8% |
| ROCE | 3.9% | 3.9% | 3.3% | 3.6% | 3.2% | 2.9% | 3.0% | 4.5% | 5.3% | 3.8% | 3.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.82 | 0.82 | 0.79 | 0.79 | 0.75 | 0.75 | 0.96 | 1.09 | 0.90 | 0.99 | 0.92 |
| Debt / EBITDA | 6.30 | 6.30 | 6.96 | 6.74 | 6.90 | 9.27 | 9.15 | 7.16 | 5.46 | 6.92 | 6.76 |
| Net Debt / Equity | — | 0.80 | 0.73 | 0.71 | 0.73 | 0.72 | 0.91 | 1.07 | 0.87 | 0.95 | 0.90 |
| Net Debt / EBITDA | 6.14 | 6.14 | 6.40 | 6.06 | 6.76 | 8.87 | 8.66 | 7.00 | 5.30 | 6.62 | 6.57 |
| Debt / FCF | — | 10.91 | 11.58 | 8.61 | 8.27 | 11.75 | 8.75 | 9.05 | 7.41 | 8.53 | 8.32 |
| Interest Coverage | 2.46 | 2.46 | 2.14 | 3.57 | 2.52 | 4.65 | 1.78 | 2.76 | 3.18 | 2.25 | 1.84 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.08 | 1.08 | 3.58 | 6.42 | 4.93 | 7.98 | 8.03 | 1.19 | 1.08 | 1.47 | 1.32 |
| Quick Ratio | 1.08 | 1.08 | 3.58 | 6.42 | 4.93 | 7.98 | 8.03 | 1.19 | 1.08 | 1.47 | 1.32 |
| Cash Ratio | 0.24 | 0.24 | 2.40 | 5.01 | 3.49 | 6.81 | 6.59 | 0.45 | 0.47 | 0.80 | 0.56 |
| Asset Turnover | — | 0.11 | 0.10 | 0.10 | 0.10 | 0.07 | 0.09 | 0.11 | 0.11 | 0.10 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.8% | 5.2% | 4.4% | 5.0% | 4.2% | 3.0% | 5.9% | 6.1% | 8.6% | 6.6% | 4.5% |
| Payout Ratio | 122.3% | 122.3% | 167.0% | 100.5% | 432.4% | 45.3% | 38.0% | 129.5% | 106.4% | 118.8% | 125.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 4.1% | 2.3% | 4.8% | 0.8% | 6.5% | 15.0% | 3.6% | 8.1% | 4.8% | 3.1% |
| FCF Yield | 5.2% | 5.7% | 4.3% | 6.1% | 6.6% | 4.9% | 9.1% | 6.7% | 10.3% | 8.0% | 5.6% |
| Buyback Yield | 0.8% | 0.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 6.6% | 1.2% | 2.9% | 0.0% |
| Total Shareholder Yield | 5.6% | 6.1% | 4.4% | 5.0% | 4.2% | 3.0% | 5.9% | 12.7% | 9.8% | 9.5% | 4.5% |
| Shares Outstanding | — | $674M | $672M | $618M | $618M | $511M | $432M | $422M | $421M | $424M | $420M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying KIM stock.
Kimco Realty Corporation's current P/E ratio is 26.8x. The historical average is 30.3x. This places it at the 69th percentile of its historical range.
Kimco Realty Corporation's current EV/EBITDA is 17.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.8x.
Kimco Realty Corporation's return on equity (ROE) is 5.5%. The historical average is 9.3%.
Based on historical data, Kimco Realty Corporation is trading at a P/E of 26.8x. This is at the 69th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kimco Realty Corporation's current dividend yield is 4.77% with a payout ratio of 122.3%.
Kimco Realty Corporation has 54.7% gross margin and 35.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Kimco Realty Corporation's Debt/EBITDA ratio is 6.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Interest rate and refinancing exposure
Metrics are mathematically derived from official filings.
P/FFO Discount Reflects Rate Fears
Kimco trades at 15.5x forward FFO, a discount to peers REG and FRT, per reported figures, suggesting the market prices in cap rate expansion risk.
The P/FFO multiple of 15.5x in Q2 2026 is below the peer average of roughly 17x for grocery-anchored retail REITs, implying a valuation discount that may be tied to interest rate sensitivity. The implied cap rate, derived from NOI and enterprise value, appears to have widened modestly over the past year, consistent with rising rate pressure. Investors should monitor whether operational momentum narrows this discount as the market reassesses the durability of Kimco's cash flows.
NOI Margin Stability Masks Cost Pressures
NOI margin held at 69.1% in Q2 2026, per financial statements, but the 2025Q4 anomaly (11.3%) highlights potential volatility from one-time items or asset sales.
The stable NOI margin suggests that Kimco's property-level profitability remains resilient, with expense reimbursements offsetting most operating costs. However, the sharp drop in Q4 2025 to 11.3% indicates that reported margins can be distorted by non-recurring items, warranting caution in trend analysis. The consistent ~69% margin in other quarters implies that FFO growth is being driven by portfolio expansion and leasing spreads rather than margin expansion.
Payout Ratio Provides Comfortable Buffer
FFO payout ratio of 60.5% in Q2 2026, as reported in SEC filings, indicates a stable dividend coverage with room for growth or retention.
The FFO payout ratio has remained in the 55-63% range over the past two years, suggesting that Kimco retains a meaningful portion of its FFO to fund redevelopment and reduce leverage. AFFO coverage is even stronger, with AFFO per share of $0.28 covering the dividend by 1.67x, per cash flow analysis. This buffer appears sustainable, though investors should monitor any increase in maintenance capex that could pressure AFFO.
Debt Creeps Higher, Mix Matters
Debt-to-equity rose to 0.84 in Q2 2026 from 0.71 in Q2 2024, per balance sheet data, while interest coverage remains adequate at 2.28x.
The gradual increase in leverage is consistent with Kimco's acquisition and development activity, but the debt-to-gross-assets ratio remains within a manageable range for a retail REIT. Interest coverage of 2.28x, though down from 2.83x in Q4 2025, still provides a cushion, but the trend warrants monitoring given the elevated rate environment. The reported debt-to-equity of 0.84 may understate true leverage if joint venture debt is not consolidated, as per accounting nuances, so investors should scrutinize the pro-rata debt figure.
Occupancy and Leasing Momentum Support Quality
Kimco's leased-to-occupied spread and small-shop occupancy trends, as per company disclosures, suggest a favorable revenue tailwind from signed leases not yet generating rent.
The consistent NOI margin and rising FFO per share indicate that Kimco's portfolio is well-positioned in high-barrier suburban markets, with grocery anchors providing stability. The focus on first-ring suburbs and the Signature Series redevelopment program may enhance long-term asset quality, but the aggressive move into residential development introduces lease-up risk that differs from core retail. Investors should monitor occupancy trends and rent spreads to confirm that the portfolio's quality translates into sustained cash flow growth.
P/E Distorts Kimco's True Earnings Power
Standard P/E of 29.12x, as reported, is misleading for REITs due to depreciation; P/FFO of 15.5x provides a clearer picture of cash-generating ability.
The P/E multiple is heavily distorted by non-cash depreciation charges, which reduce GAAP net income but do not reflect the actual cash flow available for distribution. For REITs, FFO and AFFO are the appropriate metrics, and Kimco's P/FFO of 15.5x indicates a more reasonable valuation relative to its earnings power. Investors should also adjust for straight-line rent and one-time items, as these can inflate reported revenue and obscure underlying cash flow trends.