Kilroy Realty Corporation (KRC) Financial Ratios
30 years of historical data (1996–2025) · Real Estate · REIT - Office
EV/EBITDA
↓
13.36
-9% vs avg
5yr avg: 14.71
30Y Low12.3·High32.0
P/FCF
↓
N/A
—
5yr avg: 334.78
30Y Low16.8·High119.0
P/B Ratio
↓
0.74
↓-20% vs avg
5yr avg: 0.93
30Y Low0.8·High3.1
ROE
↓
4.9%
-12% vs avg
5yr avg: 5.6%
30Y Low2%·High15%
Debt/EBITDA
↑
7.33
+3% vs avg
5yr avg: 7.09
30Y Low3.3·High10.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
KRC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Kilroy Realty Corporation trades at 15.1x earnings, 19% below its 5-year average of 18.6x, sitting at the 7th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.3x, the stock trades at a discount of 38%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.2B | $4.4B | $4.8B | $4.7B | $4.5B | $7.8B | $6.5B | $8.7B | $6.3B | $7.4B | $6.8B |
| Enterprise Value | $8.8B | $9.1B | $9.3B | $9.2B | $8.6B | $11.6B | $9.8B | $12.3B | $9.2B | $9.7B | $8.9B |
| P/E Ratio → | 15.13 | 16.11 | 22.85 | 22.13 | 19.63 | 12.40 | 35.21 | 59.50 | 24.47 | 49.44 | 24.65 |
| P/S Ratio | 3.74 | 4.00 | 4.21 | 4.14 | 4.13 | 8.14 | 7.27 | 10.40 | 8.45 | 10.25 | 10.60 |
| P/B Ratio | 0.74 | 0.79 | 0.85 | 0.83 | 0.80 | 1.37 | 1.24 | 1.91 | 1.50 | 1.86 | 1.81 |
| P/FCF | — | — | 118.98 | 79.66 | 805.71 | — | — | — | — | — | — |
| P/OCF | 7.34 | 7.85 | 8.83 | 7.77 | 7.65 | 15.05 | 14.33 | 22.54 | 15.41 | 21.24 | 19.74 |
P/E links to full P/E history page with 30-year chart
KRC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Kilroy Realty Corporation's enterprise value stands at 13.4x EBITDA, 9% below its 5-year average of 14.7x. The Real Estate sector median is 16.7x, placing the stock at a 20% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.19 | 8.22 | 8.17 | 7.82 | 12.10 | 10.93 | 14.69 | 12.31 | 13.43 | 13.91 |
| EV / EBITDA | 13.36 | 13.80 | 13.50 | 13.44 | 13.38 | 19.45 | 18.21 | 24.80 | 12.31 | 13.43 | 13.87 |
| EV / EBIT | 27.97 | 19.66 | 24.69 | 26.17 | 24.94 | 15.67 | 35.30 | 46.65 | 49.44 | 39.16 | 24.85 |
| EV / FCF | — | — | 232.51 | 156.95 | 1523.91 | — | — | — | — | — | — |
KRC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Kilroy Realty Corporation earns an operating margin of 28.4%, above the Real Estate sector average of 25.0%. ROE of 4.9% is modest. ROIC of 2.3% represents below-average returns on invested capital.
Margins
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 | 67.0% | 67.0% | 67.2% | 68.9% | 70.7% | 71.8% | 71.0% | 69.7% | 71.8% | 71.8% | 73.1% |
| Operating Margin | 28.4% | 28.4% | 29.5% | 29.2% | 29.6% | 29.6% | 26.6% | 26.5% | 24.9% | 28.7% | 30.5% |
| Net Profit Margin | 24.8% | 24.8% | 18.6% | 18.8% | 21.2% | 65.8% | 20.8% | 23.3% | 34.6% | 22.9% | 45.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.9% | 4.9% | 3.7% | 3.7% | 4.1% | 11.5% | 3.8% | 4.5% | 6.3% | 4.3% | 8.4% |
| ROA | 2.5% | 2.5% | 1.9% | 1.9% | 2.2% | 6.1% | 2.0% | 2.3% | 3.5% | 2.4% | 4.6% |
| ROIC | 2.3% | 2.3% | 2.5% | 2.5% | 2.5% | 2.4% | 2.1% | 2.2% | 2.1% | 2.6% | 2.6% |
| ROCE | 3.0% | 3.0% | 3.2% | 3.2% | 3.3% | 2.9% | 2.7% | 2.9% | 2.8% | 3.3% | 3.4% |
KRC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Kilroy Realty Corporation carries a Debt/EBITDA ratio of 7.3x, which is highly leveraged (6% below the sector average of 7.8x). Net debt stands at $4.7B ($4.8B total debt minus $179M cash). Interest coverage of just 2.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.86 | 0.86 | 0.84 | 0.89 | 0.77 | 0.74 | 0.76 | 0.80 | 0.70 | 0.59 | 0.62 |
| Debt / EBITDA | 7.33 | 7.33 | 6.83 | 7.36 | 6.85 | 7.06 | 7.46 | 7.36 | 3.92 | 3.26 | 3.60 |
| Net Debt / Equity | — | 0.83 | 0.81 | 0.80 | 0.71 | 0.66 | 0.62 | 0.79 | 0.69 | 0.58 | 0.57 |
| Net Debt / EBITDA | 7.06 | 7.06 | 6.59 | 6.62 | 6.31 | 6.36 | 6.10 | 7.24 | 3.85 | 3.18 | 3.30 |
| Debt / FCF | — | — | 113.53 | 77.29 | 718.20 | — | — | — | — | — | — |
| Interest Coverage | 2.51 | 2.51 | 2.60 | 3.09 | 4.08 | 9.39 | 3.93 | 5.43 | 3.70 | 3.73 | 6.44 |
KRC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Kilroy Realty Corporation's current ratio of 4.24x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.86x to 4.24x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.24 | 4.24 | 1.20 | 1.86 | 1.16 | 1.27 | 1.79 | 0.72 | 0.76 | 0.71 | 0.81 |
| Quick Ratio | 4.24 | 4.24 | 1.20 | 1.86 | 1.16 | 1.27 | 1.79 | 0.72 | 0.78 | 0.82 | 0.79 |
| Cash Ratio | 1.44 | 1.44 | 0.34 | 1.15 | 0.51 | 0.63 | 1.08 | 0.13 | 0.12 | 0.16 | 0.33 |
| Asset Turnover | — | 0.10 | 0.10 | 0.10 | 0.10 | 0.09 | 0.09 | 0.09 | 0.10 | 0.11 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | 18.33 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
KRC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Kilroy Realty Corporation returns 6.3% to shareholders annually — split between a 6.2% dividend yield and 0.2% buyback yield. The payout ratio of 93.4% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 6.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 6.2% | 5.8% | 5.4% | 5.5% | 5.5% | 3.1% | 3.4% | 2.3% | 2.8% | 4.6% | 2.0% |
| Payout Ratio | 93.4% | 93.4% | 121.5% | 120.3% | 106.4% | 37.8% | 120.0% | 100.4% | 69.4% | 207.0% | 46.8% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 6.2% | 4.4% | 4.5% | 5.1% | 8.1% | 2.8% | 1.7% | 4.1% | 2.0% | 4.1% |
| FCF Yield | — | — | 0.8% | 1.3% | 0.1% | — | — | — | — | — | — |
| Buyback Yield | 0.2% | 0.1% | 0.6% | 0.2% | 0.5% | 0.3% | 0.2% | 0.2% | 0.3% | 2.9% | 0.1% |
| Total Shareholder Yield | 6.3% | 5.9% | 5.9% | 5.7% | 6.0% | 3.3% | 3.7% | 2.4% | 3.1% | 7.5% | 2.1% |
| Shares Outstanding | — | $119M | $118M | $118M | $117M | $117M | $114M | $104M | $100M | $99M | $93M |
Peer Comparison
Compare KRC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 KRCYou | $4B | 15.1 | 13.4 | — | 67.0% | 28.4% | 4.9% | 2.3% | 7.3 |
 BXP | $9B | 34.4 | 8.9 | 13.8 | 60.6% | 55.7% | 3.5% | 6.1% | 6.1 |
 HIW | $3B | 17.8 | 12.8 | 17.1 | 67.6% | 26.0% | 6.6% | 2.7% | 7.2 |
 CUZ | $4B | 111.6 | 12.7 | 32.6 | 26.5% | 22.4% | 0.8% | 2.0% | 5.8 |
 DEA | $1B | 80.3 | 13.9 | 4.2 | -0.9% | 24.9% | 0.9% | 2.1% | 8.5 |
 PDM | $1B | -12.6 | 10.9 | — | -20.7% | 14.1% | -5.4% | 1.5% | 7.4 |
 VNO | $6B | 7.5 | 17.2 | 4.7 | 100.0% | 15.0% | 13.9% | 1.4% | 10.5 |
 SLG | $3B | -28.1 | 26.2 | — | 34.1% | 15.4% | -2.0% | 1.1% | 19.3 |
 ARE | $8B | -5.4 | 135.9 | 5.6 | 68.9% | -40.5% | -6.9% | -2.7% | 86.1 |
 PGRE | $1B | -31.4 | 12.3 | 5.5 | 60.0% | 19.6% | -1.2% | 1.5% | 9.5 |
 HPP | $577M | -0.8 | 12.9 | 5.8 | -42.1% | -5.7% | -17.3% | -0.5% | 11.5 |
| Real Estate Median | — | 24.3 | 16.7 | 15.7 | 50.7% | 25.0% | 3.5% | 2.6% | 7.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonKRC — Frequently Asked Questions
Quick answers to the most common questions about buying KRC stock.
What is Kilroy Realty Corporation's P/E ratio?
Kilroy Realty Corporation's current P/E ratio is 15.1x. The historical average is 33.2x. This places it at the 7th percentile of its historical range.
What is Kilroy Realty Corporation's EV/EBITDA?
Kilroy Realty Corporation's current EV/EBITDA is 13.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.3x.
What is Kilroy Realty Corporation's ROE?
Kilroy Realty Corporation's return on equity (ROE) is 4.9%. The historical average is 6.7%.
Is KRC stock overvalued?
Based on historical data, Kilroy Realty Corporation is trading at a P/E of 15.1x. This is at the 7th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Kilroy Realty Corporation's dividend yield?
Kilroy Realty Corporation's current dividend yield is 6.17% with a payout ratio of 93.4%.
What are Kilroy Realty Corporation's profit margins?
Kilroy Realty Corporation has 67.0% gross margin and 28.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Kilroy Realty Corporation have?
Kilroy Realty Corporation's Debt/EBITDA ratio is 7.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.