Kilroy Realty Corporation (KRC) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.12	$0.17	+41.7%	—	—	—
Q1 26	$0.13	$0.16	+23.1%	—	$270.1M	—
Q4 25	$0.28	$0.24	-14.3%	—	$272.2M	—
Q3 25	$0.28	$0.38	+35.7%	—	$279.7M	—
Q2 25	$0.31	$0.44	+41.9%	—	$289.9M	—
Q1 25	$0.29	$0.33	+13.8%	—	$270.8M	—
Q4 24	$0.29	$0.5	+72.4%	—	$286.4M	—
Q3 24	$0.35	$0.44	+25.7%	—	$289.9M	—
Q2 24	$0.4	$0.41	+2.5%	—	$280.7M	—
Q1 24	$0.41	$0.42	+2.4%	—	$278.6M	—
Q4 23	$0.38	$0.4	+5.3%	—	$269M	—
Q3 23	$0.36	$0.45	+25.0%	—	$283.6M	—
Q2 23	$0.36	$0.47	+30.6%	—	$284.3M	—
Q1 23	$0.45	$0.48	+6.7%	—	$292.8M	—
Q4 22	$0.49	$0.45	-8.2%	—	$284.3M	—
Q3 22	$0.38	$0.68	+78.9%	—	$276M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.33	—	—	$1.1B	—
FY24	—	$1.78	—	—	$1.1B	—
FY23	—	$1.8	—	—	$1.1B	—
FY22	—	$1.98	—	—	$1.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$642.6M	$719M	$747.3M	$837.5M	$898.4M	$955M	$1.1B	$1.1B	$1.1B	$1.1B
YoY change	+10.5%	+11.9%	+3.94%	+12.1%	+7.28%	+6.3%	+14.9%	+2.98%	+0.53%	-2.02%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	642.6M	719M	747.3M	837.5M	898.4M	955M	1.1B	1.1B	1.1B	1.1B
Cost of revenue	172.6M	202.8M	210.8M	253.9M	260.7M	269.6M	321.1M	351.1M	372.9M	373.7M
Gross profit	470M	516.2M	536.5M	583.6M	637.7M	685.5M	775.9M	778.6M	762.8M	739M
Gross margin	73.1%	71.8%	71.8%	69.7%	71%	71.8%	70.7%	68.9%	67.2%	66.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	57M	60.6M	90.5M	88.1M	99.3M	92.7M	93.6M	93.4M	72.1M	73.1M
Operating expenses	57M	60.6M	90.5M	88.1M	99.3M	92.7M	93.6M	93.4M	72.1M	73.1M
Operating income	195.7M	206.5M	186.1M	222.3M	239.1M	282.7M	324.7M	329.9M	334.5M	311M
Operating margin	30.5%	28.7%	24.9%	26.5%	26.6%	29.6%	29.6%	29.2%	29.5%	28%
Non-operating income, net	162.1M	34.6M	142.1M	36.8M	35.5M	450.9M	17.3M	—	6M	110.9M
Pretax income	303.8M	180.6M	277.9M	215.2M	207.3M	658.9M	259.5M	238.3M	233M	302.6M
Income tax	—	—	—	—	—	—	—	—	—	—
Net income	303.8M	180.6M	277.9M	215.2M	207.3M	658.9M	259.5M	238.3M	233M	302.6M
Net margin	47.3%	25.1%	37.2%	25.7%	23.1%	69%	23.7%	21.1%	20.5%	27.2%
EBITDA	414.7M	457.9M	440.4M	500.8M	542.7M	597.9M	684.8M	708.8M	729.5M	674.1M
EPS	3	1.52	2.56	1.87	1.63	5.38	1.98	1.8	1.78	2.33
Diluted EPS	2.97	1.51	2.55	1.86	1.63	5.36	1.97	1.8	1.77	2.32

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	283.6M	269M	278.6M	280.7M	289.9M	286.4M	270.8M	289.9M	279.7M	272.2M	270.1M	—
Cost of revenue	92M	86.2M	91.6M	93.4M	95.6M	92.3M	93M	90.6M	93.3M	96.8M	94.3M	—
Gross profit	191.5M	182.8M	187M	187.3M	194.3M	194.1M	177.9M	199.3M	186.5M	175.4M	175.8M	—
Gross margin	67.5%	67.9%	67.1%	66.7%	67%	67.8%	65.7%	68.7%	66.7%	64.4%	65.1%	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	24.8M	22.1M	17.6M	19M	18.1M	17.5M	16.9M	18.5M	18.2M	19.5M	20.7M	—
Operating expenses	24.8M	22.1M	17.6M	19M	18.1M	17.5M	16.9M	18.5M	18.2M	19.5M	20.7M	—
Operating income	81.6M	74.7M	81.4M	81.2M	84.4M	87.5M	73.9M	93.2M	80.7M	63.3M	60.7M	—
Operating margin	28.8%	27.8%	29.2%	28.9%	29.1%	30.6%	27.3%	32.1%	28.9%	23.2%	22.5%	—
Non-operating income, net	—	—	—	—	—	—	-157K	16.7M	110.6M	-16.2M	-37.9M	—
Pretax income	58.7M	53M	55.7M	54.5M	57.7M	65M	43.7M	79.6M	162.3M	17.1M	-14.7M	—
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	58.7M	53M	55.7M	54.5M	57.7M	65M	43.7M	79.6M	162.3M	17.1M	-14.7M	—
Net margin	20.7%	19.7%	20%	19.4%	19.9%	22.7%	16.1%	27.4%	58%	6.29%	-5.43%	—
EBITDA	174.1M	171.6M	182.9M	178.7M	186.2M	187.7M	162.2M	181.8M	171.7M	158.4M	156.7M	—
EPS	0.45	0.4	0.42	0.41	0.44	0.5	0.33	0.58	1.32	0.1	-0.16	0.17
Diluted EPS	0.45	0.4	0.42	0.41	0.44	0.5	0.33	0.57	1.31	0.1	-0.16	0.17

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	6.8B	7.3B	6.3B	8.7B	6.5B	7.7B	4.5B	4.7B	4.8B	4.4B	4.4B
Enterprise value	8.9B	9.6B	9.1B	12.2B	9.8B	11.5B	8.5B	8.9B	9.3B	8.9B	9.2B
Shares outstanding	92.3M	98.1M	100M	103.2M	113.2M	116.4M	116.8M	117.2M	117.6M	118.3M	118.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.3	40.6	22.6	40.2	31.4	11.7	17.4	19.6	20.4	14.6	27.1
P/S	10.5	10.2	8.41	10.3	7.24	8.1	4.12	4.13	4.19	3.97	4.16
P/B	1.8	1.85	1.5	1.89	1.23	1.36	0.8	0.82	0.85	0.78	0.86
EV/EBITDA	21.4	21	20.8	24.4	18	19.2	12.5	12.6	12.7	13.2	15.2
EV/Sales	13.8	13.3	12.2	14.6	10.9	12	7.78	7.9	8.18	8.02	8.38
Earnings yield	4.49%	2.47%	4.42%	2.49%	3.19%	8.52%	5.74%	5.11%	4.9%	6.85%	3.69%
FCF yield	-8.06%	-2.17%	-13%	-11.2%	-2.47%	-16.6%	0.12%	1.26%	0.84%	-2.75%	16.4%
PEG	—	—	—	—	—	—	—	—	—	—	-0.38

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	73.1%	71.8%	71.8%	69.7%	71%	71.8%	70.7%	68.9%	67.2%	66.4%	66.3%
Operating margin	30.5%	28.7%	24.9%	26.5%	26.6%	29.6%	29.6%	29.2%	29.5%	28%	24%
Net margin	47.3%	25.1%	37.2%	25.7%	23.1%	69%	23.7%	21.1%	20.5%	27.2%	15.5%
ROE	8.08%	4.56%	6.62%	4.71%	3.93%	11.6%	4.57%	4.21%	4.15%	5.37%	3.43%
ROA	4.53%	2.65%	3.58%	2.42%	2.07%	6.23%	2.4%	2.09%	2.14%	2.77%	1.57%
Return on tangible assets	4.61%	2.68%	3.61%	2.43%	2.08%	6.29%	2.44%	2.11%	2.16%	2.82%	2.27%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.86	0.86	0.79	0.72	1.79	1.27	1.16	1.86	1.2	1.38	1.1
Quick ratio	0.84	0.86	0.79	0.72	1.79	1.27	1.16	1.86	1.2	1.38	1.52
Debt / equity	0.62	0.59	0.7	0.8	0.76	0.74	0.77	0.89	0.84	0.84	0.86
Debt / assets	0.35	0.35	0.38	0.41	0.4	0.4	0.41	0.44	0.43	0.43	0.44
Net debt / EBITDA	5.09	4.95	6.49	7.12	6.01	6.28	5.87	6.01	6.21	6.69	6.72
Interest coverage	6.44	3.73	6.53	5.43	3.93	9.39	4.08	3.09	2.6	3.4	2.83

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	6.96	7.33	7.48	8.11	7.93	8.2	9.39	9.64	9.65	9.41	9.3
EPS (basic)	3	1.52	2.56	1.87	1.63	5.38	1.98	1.8	1.78	2.33	2.33
EPS (diluted)	2.97	1.51	2.55	1.86	1.63	5.36	1.97	1.8	1.77	2.32	1.43
Book value per share	40.7	40.4	42	44.3	46.6	48.9	48.6	48.3	47.7	47.7	44.9
FCF per share	-5.9	-1.62	-8.15	-9.36	-1.42	-11	0.05	0.5	0.34	-1.03	-1.39
Cash per share	2.25	0.8	0.73	0.84	6.71	3.79	3.18	6.78	1.65	1.78	2.18
Capex per share	—	—	—	—	—	—	—	—	0.16	5.82	5.82

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	1.7%	61.8%	61.8%
Capex / operating cash flow	—	—	—	—	—	—	—	—	3.55%	121.5%	121.5%
Payout ratio	49.6%	192.7%	64.6%	91.2%	108.3%	36%	95.4%	107.2%	110%	85.2%	151.1%
Dividend yield	2.23%	4.75%	2.85%	2.27%	3.46%	3.07%	5.48%	5.47%	5.39%	5.83%	5.79%

Yield

5.79%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.54

ex-dividend Jun 30, 2026

Payout ratio

151%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$0.54
Mar 31, 2026	$0.54
Dec 31, 2025	$0.54

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$283.6M	$269M	$278.6M	$280.7M	$289.9M	$286.4M	$270.8M	$289.9M	$279.7M	$272.2M	$270.1M	—
YoY change	+2.77%	-5.39%	-4.86%	-1.25%	+2.24%	+6.45%	-2.78%	+3.26%	-3.52%	-4.96%	-0.29%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	208.2M	78.3M	73.4M	87.1M	759.5M	441.6M	370.9M	794.8M	193.7M	210.1M
Receivables	13.5M	16.9M	20.2M	26.5M	12M	14.4M	20.6M	13.6M	11M	12.8M
Inventory	9.4M	0	—	—	—	—	—	—	—	—
Total current assets	537M	425.8M	496M	488.2M	1.3B	887.2M	855.1M	1.3B	677.8M	773.8M
Property, plant & equipment	40.4M	39.7M	36.8M	131.6M	138.9M	170.1M	168.1M	162.6M	155.5M	157.3M
Goodwill & intangibles	116.1M	74.1M	62.9M	53.8M	29.3M	113.1M	140.8M	109M	117.1M	198.6M
Total assets	6.7B	6.8B	7.8B	8.9B	10B	10.6B	10.8B	11.4B	10.9B	10.9B
Accounts payable	202.4M	249.6M	374.4M	418.8M	445.1M	391.3M	392.4M	371.2M	285M	289M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	627.1M	495.5M	631.8M	678.1M	701.9M	699.2M	734M	688.6M	563.3M	560.2M
Long-term debt	2.3B	2.3B	2.9B	3.7B	4B	4.2B	4.4B	5.1B	4.7B	4.7B
Total liabilities	2.9B	2.8B	3.6B	4.3B	4.7B	4.9B	5.1B	5.7B	5.3B	5.3B
Shareholders' equity	3.8B	4B	4.2B	4.6B	5.3B	5.7B	5.7B	5.7B	5.6B	5.6B
Total debt	2.3B	2.3B	2.9B	3.7B	4B	4.2B	4.4B	5.1B	4.7B	4.7B
Net debt	2.1B	2.3B	2.9B	3.6B	3.3B	3.8B	4B	4.5B	4.6B	4.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	387.7M	897.6M	794.8M	964.5M	868.5M	652.5M	193.7M	175.9M	224.8M	406M	210.1M	224.3M
Receivables	10.7M	11.4M	13.6M	13.3M	10.2M	11.2M	11M	11.7M	11.7M	13.2M	12.8M	15.7M
Inventory	—	—	—	—	—	—	—	—	255.8M	—	—	—
Total current assets	885.4M	1.4B	1.3B	1.5B	1.4B	1.1B	677.8M	674.8M	958.5M	881.4M	773.8M	862.4M
Property, plant & equipment	166.7M	163.7M	162.6M	167.1M	166.4M	168.4M	155.5M	154.7M	154M	153.9M	157.3M	154.5M
Goodwill & intangibles	—	—	109M	—	—	—	117.1M	—	—	—	198.6M	—
Total assets	10.9B	11.5B	11.4B	11.6B	11.5B	11.4B	10.9B	10.9B	10.9B	11B	10.9B	10.8B
Accounts payable	377.7M	426.7M	371.2M	401.9M	361.8M	354.8M	285M	292.4M	273.6M	321.2M	289M	303.8M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	705.8M	744.3M	688.6M	707.2M	660.2M	642.3M	563.3M	572.6M	548.6M	589M	560.2M	569.1M
Long-term debt	4.5B	5.1B	5.1B	5.2B	5.2B	5.1B	4.7B	4.7B	—	—	—	—
Total liabilities	5.2B	5.8B	5.7B	6B	5.9B	5.8B	5.3B	5.3B	5.3B	5.3B	5.3B	5.3B
Shareholders' equity	5.7B	5.7B	5.7B	5.6B	5.6B	5.6B	5.6B	5.6B	5.6B	5.7B	5.6B	5.5B
Total debt	4.5B	5.1B	5.1B	5.2B	5.2B	5.1B	4.7B	4.7B	—	—	—	—
Net debt	4.2B	4.4B	4.5B	4.4B	4.4B	4.5B	4.6B	4.6B	—	—	—	—

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	303.8M	180.6M	277.9M	215.2M	207.3M	658.9M	259.5M	238.3M	233M	302.6M
Depreciation & amortization	217.2M	245.9M	254.3M	273.8M	300.1M	311.3M	358.4M	356.3M	357.2M	356M
Stock-based compensation	-7.2M	19M	27.9M	27M	30.2M	33.8M	28.3M	36.9M	17.7M	19.1M
Change in working capital	28.6M	-23.7M	80.8M	19.4M	49M	36.9M	35.8M	-521K	-52.1M	-798K
Operating cash flow	502.3M	366.6M	586.9M	436.5M	496.6M	965.9M	609.7M	591M	544.7M	566.3M
Capital expenditure	—	—	—	—	—	—	—	—	19.4M	-688M
Investing cash flow	310.8M	146.6M	415.4M	248.8M	73.9M	1.1B	33.4M	-256.6M	19.4M	-240M
Dividends paid	-150.7M	-348.1M	-179.4M	-196.3M	-224.6M	-237.4M	-247.6M	-255.4M	-256.3M	-257.9M
Share repurchases	-8.9M	-213M	-16.6M	-14.6M	-14.1M	-21.9M	-22.9M	-11.6M	-27.6M	—
Financing cash flow	110.1M	-453.4M	-186.9M	-163.6M	398.3M	-165M	-118.7M	360.6M	-660.6M	-377.7M
Net change in cash	923.2M	59.7M	815.4M	521.7M	968.9M	1.9B	524.4M	695M	-96.5M	-51.4M
Free cash flow	-545.2M	-158.7M	-814.3M	-966.2M	-160.5M	-1.3B	5.6M	58.8M	40.2M	-121.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	61.3M	58.7M	53M	55.7M	54.5M	57.7M	65M	43.7M	79.6M	162.3M	17.1M	-14.7M
Depreciation & amortization	90.6M	85.5M	86.3M	88.3M	87.4M	92.1M	89.4M	87.4M	87.9M	87.8M	92.9M	94.6M
Stock-based compensation	7.7M	10.6M	8.5M	3.4M	5.3M	4.6M	4.4M	3.9M	4.6M	5.4M	5.1M	4.9M
Change in working capital	-48.1M	60.7M	-38.3M	22.9M	-54.3M	22.5M	-43.2M	2K	-11.9M	33.3M	-22.2M	30.2M
Operating cash flow	100.6M	208.2M	102.6M	164M	88.7M	175.6M	116.5M	136.3M	160.1M	176.6M	109.1M	150.7M
Capital expenditure	—	—	—	—	—	—	—	—	—	-275M	-284.6M	-132.6M
Investing cash flow	0	—	-3.8M	178.3M	78.3M	0	—	0	0	-275M	-229.1M	15M
Dividends paid	-63.9M	-63.9M	-63.9M	-63.9M	-64M	-64M	-64.4M	-64.4M	-64.5M	-64.5M	-64.5M	-64.5M
Share repurchases	-1.3M	-1.9M	0	-5.9M	-20K	-21.7M	0	-6M	-197K	-213K	—	-79.6M
Financing cash flow	-77.8M	449.2M	-78.9M	100.1M	-71.8M	-212.5M	-476.4M	-79.2M	-73.6M	-151.7M	-79.5M	-152.2M
Net change in cash	22.7M	657.4M	19.9M	442.4M	95.2M	-36.9M	-360M	57.1M	86.5M	-250.1M	-199.5M	13.6M
Free cash flow	-36.6M	60.6M	-25.9M	66.4M	-25.6M	2M	-2.6M	60.3M	92M	-98.4M	-175.5M	18.1M

Kilroy Realty Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history