Latest Ratios: P/E Ratio 14.9x · EV/EBITDA 17.2x · ROE 9.0%. (2003–2025 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 | $5.2B | $5.1B | $5.5B | $5.0B | $4.6B | $2.4B | $1.3B | $1.6B | $1.2B | $1.6B | $2.0B |
| Enterprise Value | $8.5B | $8.5B | $8.6B | $8.0B | $7.8B | $5.7B | $2.5B | $2.8B | $2.7B | $3.3B | $3.7B |
| P/E Ratio → | 14.89 | 17.37 | 1364.32 | 103.91 | — | — | — | — | — | 140.00 | 2348.00 |
| P/S Ratio | 6.50 | 6.06 | 6.59 | 6.10 | 5.75 | 6.45 | 4.72 | 5.20 | 3.33 | 4.57 | 5.53 |
| P/B Ratio | 1.71 | 1.61 | 1.63 | 1.38 | 1.21 | 0.61 | 0.99 | 1.22 | 0.81 | 1.00 | 1.13 |
| P/FCF | 21.86 | 18.51 | 19.94 | 19.93 | 20.89 | 55.99 | 21.99 | 19.36 | 12.40 | 19.73 | 32.33 |
| P/OCF | 12.03 | 11.96 | 13.24 | 12.73 | 12.16 | 24.01 | 13.18 | 11.88 | 7.64 | 10.68 | 12.65 |
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 | — | 10.00 | 10.27 | 9.77 | 9.67 | 15.40 | 9.22 | 8.98 | 7.59 | 9.24 | 10.37 |
| EV / EBITDA | 17.21 | 14.71 | 16.97 | 13.82 | 13.74 | 31.65 | 14.83 | 13.70 | 15.17 | 13.85 | 15.01 |
| EV / EBIT | 43.41 | 19.57 | 66.37 | 61.82 | 84.15 | — | 73.20 | 48.00 | 133.64 | 41.71 | 52.81 |
| EV / FCF | — | 30.52 | 31.09 | 31.91 | 35.14 | 133.55 | 42.93 | 33.44 | 28.26 | 39.88 | 60.56 |
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 | 53.3% | 53.3% | 74.2% | 74.4% | 73.6% | 71.8% | 71.2% | 73.2% | 73.8% | 74.1% | 74.4% |
| Operating Margin | 23.1% | 23.1% | 13.2% | 18.5% | 11.4% | -5.8% | 13.1% | 22.8% | 5.9% | 18.0% | 18.5% |
| Net Profit Margin | 35.2% | 35.2% | 0.5% | 5.8% | -1.6% | -21.6% | -6.1% | -0.2% | -13.1% | 3.3% | 0.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.0% | 9.0% | 0.1% | 1.3% | -0.3% | -3.1% | -1.2% | -0.0% | -3.0% | 0.7% | 0.1% |
| ROA | 4.3% | 4.3% | 0.1% | 0.7% | -0.2% | -1.6% | -0.6% | -0.0% | -1.4% | 0.3% | 0.0% |
| ROIC | 2.3% | 2.3% | 1.3% | 1.7% | 1.0% | -0.3% | 1.0% | 2.0% | 0.5% | 1.4% | 1.4% |
| ROCE | 3.0% | 3.0% | 1.6% | 2.2% | 1.3% | -0.4% | 1.4% | 2.6% | 0.7% | 1.9% | 1.9% |
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 | 1.06 | 1.06 | 0.95 | 0.84 | 0.85 | 0.86 | 0.98 | 0.91 | 1.06 | 1.04 | 1.00 |
| Debt / EBITDA | 5.85 | 5.85 | 6.34 | 5.25 | 5.78 | 18.89 | 7.50 | 5.92 | 8.71 | 7.10 | 7.08 |
| Net Debt / Equity | — | 1.04 | 0.91 | 0.83 | 0.82 | 0.84 | 0.94 | 0.89 | 1.03 | 1.02 | 0.99 |
| Net Debt / EBITDA | 5.79 | 5.79 | 6.08 | 5.19 | 5.57 | 18.38 | 7.23 | 5.77 | 8.51 | 7.00 | 7.00 |
| Debt / FCF | — | 12.01 | 11.14 | 11.99 | 14.24 | 77.56 | 20.95 | 14.08 | 15.86 | 20.15 | 28.23 |
| Interest Coverage | 3.51 | 3.51 | 1.04 | 1.24 | 0.88 | -0.36 | 0.67 | 1.00 | 0.30 | 1.21 | 1.06 |
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 | 1.44 | 1.44 | 3.30 | 0.78 | 1.07 | 1.05 | 1.24 | 1.78 | 0.72 | 0.61 | 0.52 |
| Quick Ratio | 1.44 | 1.44 | 3.30 | 0.78 | 1.07 | 1.05 | 1.24 | 1.78 | 0.74 | 0.63 | 0.52 |
| Cash Ratio | 0.09 | 0.09 | 2.31 | 0.18 | 0.59 | 0.78 | 0.38 | 0.39 | 0.21 | 0.14 | 0.11 |
| Asset Turnover | — | 0.13 | 0.12 | 0.12 | 0.11 | 0.05 | 0.10 | 0.12 | 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 | 4.3% | 4.6% | 4.0% | 4.2% | 3.9% | 2.4% | 3.0% | 8.1% | 9.0% | 6.2% | 4.8% |
| Payout Ratio | 79.2% | 79.2% | 5448.1% | 443.3% | — | — | — | — | — | 851.7% | 8002.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 5.8% | 0.1% | 1.0% | — | — | — | — | — | 0.7% | 0.0% |
| FCF Yield | 4.6% | 5.4% | 5.0% | 5.0% | 4.8% | 1.8% | 4.5% | 5.2% | 8.1% | 5.1% | 3.1% |
| Buyback Yield | 4.8% | 4.8% | 0.0% | 0.0% | 0.0% | 0.6% | 0.1% | 0.0% | 0.0% | 0.0% | 0.1% |
| Total Shareholder Yield | 9.2% | 9.4% | 4.0% | 4.2% | 3.9% | 3.0% | 3.1% | 8.2% | 9.0% | 6.2% | 4.9% |
| Shares Outstanding | — | $214M | $220M | $220M | $219M | $111M | $84M | $84M | $84M | $84M | $83M |
Includes 30+ ratios · 23 years · Updated daily
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Quick answers to the most common questions about buying KRG stock.
Kite Realty Group Trust's current P/E ratio is 14.9x. The historical average is 68.1x.
Kite Realty Group Trust's current EV/EBITDA is 17.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.3x.
Kite Realty Group Trust's return on equity (ROE) is 9.0%. The historical average is 1.9%.
Based on historical data, Kite Realty Group Trust is trading at a P/E of 14.9x. Compare with industry peers and growth rates for a complete picture.
Kite Realty Group Trust's current dividend yield is 4.33% with a payout ratio of 79.2%.
Kite Realty Group Trust has 53.3% gross margin and 23.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Kite Realty Group Trust's Debt/EBITDA ratio is 5.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Volatile FFO and dividend coverage
Metrics are mathematically derived from official filings.
Valuation Rests on Unreliable FFO Base
Based on KRG's reported quarterly figures, P/FFO sits near 14.4x to 15.9x across the ten quarters, but the denominator swings sharply, so the apparent stability of the multiple may mask an unreliable earnings base.
The P/FFO multiple has held in a tight band even as FFO per share ranged from $0.24 to $1.25, which suggests the ratio is being mechanically stabilized by price rather than by underlying cash earnings. Investors should be cautious about reading a steady multiple as evidence of fair value when the quarterly denominator is driven by one-time items. The 10-K-style P/E of 18.62 and EV/EBITDA of 14.94 point to a similar conclusion: the market appears to be pricing a normalized earnings level that the reported quarters do not clearly support.
NOI Margin Stable Outside Anomalous Quarter
NOI margin held between 72% and 74% across most reported quarters, though the 2025Q4 reading of negative 10.4% appears to be a data or accounting irregularity that warrants verification before it is relied upon.
Excluding the 2025Q4 outlier, property-level profitability has been remarkably consistent, which is characteristic of a grocery-anchored open-air portfolio with contractual rent streams. The more pressing question is whether FFO growth is organic, and the reported quarterly FFO growth figures, which swing from negative 63.7% to positive 122.9%, suggest it is not being driven by steady same-store expansion. Investors should monitor same-store NOI growth directly rather than relying on the headline margin.
Payout Coverage Depends on Quarter Selection
FFO payout ratios ranged from 24% to 106% across reported quarters, with the 2026Q1 reading of 94% and the 2024Q2 reading of 106% indicating that dividend coverage is thin in several periods despite a 4.3% yield.
The payout ratio distribution indicates that the dividend is comfortably covered in some quarters and uncovered in others, which points to a distribution sized against a normalized earnings level rather than the volatile quarterly run-rate. The AFFO swing from $212.3M in 2026Q2 to $24.3M in 2026Q3 further suggests that retained cash flow is not reliably positive. Based on the supplied data, the dividend appears sustainable only if the earnings base recovers toward its 2025 average, which warrants further investigation.
Leverage Stable but Liquidity Cushion Thin
Debt-to-equity oscillated between 0.86 and 1.13 and interest coverage fell to 0.58x in 2026Q3, with cash reserves of only $32.5M against a $2.8B debt stack, suggesting dependence on continuous capital market access.
The leverage metrics do not show a clear deleveraging trend, and the sub-1.0x interest coverage in the most recent quarter may indicate that operating earnings were insufficient to cover interest expense in that period. The supplied data does not disclose the maturity ladder or fixed-rate share, so refinancing exposure cannot be fully assessed. Investors should monitor whether the 2026Q3 coverage dip is a one-time event or a sign of pressure on the debt service profile.
D/E Misread Obscures Asset-Based Leverage
Debt-to-equity is commonly misapplied to this REIT, as book equity distorted by depreciation and merger accounting can understate or overstate true leverage relative to gross asset value, which the supplied data does not allow us to compute directly.
Applying a book-value D/E ratio to a REIT ignores that the real estate base is carried at depreciated historical cost, so the 1.06x figure may not reflect leverage against current property values. The more appropriate measure is debt-to-gross-assets or debt-to-enterprise-value, which better captures the claim lenders have on the underlying centers. Investors should substitute a gross-asset or market-value leverage measure before drawing conclusions about balance sheet strength.