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Kilroy Realty (KRC) Financials

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$41.50 -0.25 (-0.59%)
As of 10:48 AM Eastern
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Annual Income Statements for Kilroy Realty

Annual Income Statements for Kilroy Realty

This table shows Kilroy Realty's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 221 281 151 258 195 187 628 233 212 211
Consolidated Net Income / (Loss)		 239 304 181 278 215 207 659 259 238 233
Net Income / (Loss) Continuing Operations		 239 418 311 278 208 207 659 259 238 233
Total Pre-Tax Income 		112 254 271 123 215 172 196 242 238 233
Total Revenue		 581 643 653 698 874 828 864 1,097 1,130 1,136
Net Interest Income / (Expense)		 0.00 0.00 -66 -50 0.00 -71 -79 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 66 50 0.00 71 79 0.00 0.00 0.00
Total Non-Interest Income		 581 643 719 747 874 898 943 1,097 1,130 1,136
Other Service Charges		 2.15 - - 9.69 11 6.09 6.05 11 12 18
Other Non-Interest Income		 579 643 719 738 826 892 949 1,086 1,118 1,118
Total Non-Interest Expense		 412 335 383 561 615 659 672 772 800 801
Other Operating Expenses		 204 112 130 301 342 360 362 415 445 445
Depreciation Expense		 204 217 246 254 273 299 310 358 355 356
Nonoperating Income / (Expense), net		 -57 -54 0.19 -13 -44 3.42 3.92 -83 -92 -102
Other Gains / (Losses), net		 127 164 40 155 -7.09 36 463 17 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.52 10 16 20 20 20 31 27 26 22
Basic Earnings per Share		 $2.44 $3.00 $1.52 $2.56 $1.87 $1.63 $5.38 $1.98 $1.80 $1.78
Weighted Average Basic Shares Outstanding		 89.85M 92.34M 98.11M 99.97M 103.20M 113.24M 116.43M 116.81M 117.16M 117.65M
Diluted Earnings per Share		 $2.42 $2.97 $1.51 $2.55 $1.86 $1.63 $5.36 $1.97 $1.80 $1.77
Weighted Average Diluted Shares Outstanding		 90.40M 93.02M 98.73M 100.48M 103.85M 113.72M 116.95M 117.22M 117.51M 118.16M
Weighted Average Basic & Diluted Shares Outstanding		 90.50M 93.80M 99.50M 100.90M 106.17M 116.37M 116.72M 117.09M 117.33M 118.14M
Cash Dividends to Common per Share		 $1.40 $3.38 $1.65 $1.79 $1.91 $1.97 $2.04 - $2.16 $2.16

Quarterly Income Statements for Kilroy Realty

This table shows Kilroy Realty's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 80 53 57 56 53 47 50 49 52 59 39
Consolidated Net Income / (Loss)		 87 59 65 61 59 53 56 55 58 65 44
Net Income / (Loss) Continuing Operations		 87 59 65 61 59 53 56 55 58 65 44
Total Pre-Tax Income 		69 59 65 61 59 53 56 55 58 65 44
Total Revenue		 256 345 267 284 284 295 240 281 290 325 271
Net Interest Income / (Expense)		 -20 61 -26 0.00 0.00 26 -39 0.00 0.00 39 0.00
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 20 -61 26 0.00 0.00 -26 39 0.00 0.00 -39 0.00
Total Non-Interest Income		 276 284 293 284 284 269 279 281 290 286 271
Other Service Charges		 3.41 2.66 2.70 2.97 2.91 3.37 3.69 4.81 3.99 5.02 4.60
Other Non-Interest Income		 273 282 290 281 281 266 275 276 286 281 266
Total Non-Interest Expense		 187 203 203 200 202 194 197 200 206 199 197
Other Operating Expenses		 106 111 110 110 117 108 109 112 114 110 110
Depreciation Expense		 81 91 94 90 85 86 88 87 92 89 87
Nonoperating Income / (Expense), net		 0.30 -83 1.46 -23 -23 -47 13 -27 -27 -61 -30
Net Income / (Loss) Attributable to Noncontrolling Interest		 6.90 6.85 8.62 5.69 5.98 5.76 5.78 5.34 5.30 5.57 4.67
Basic Earnings per Share		 $0.68 $0.45 $0.48 $0.47 $0.45 $0.40 $0.42 $0.41 $0.44 $0.51 $0.33
Weighted Average Basic Shares Outstanding		 116.87M 116.81M 117.06M 117.15M 117.18M 117.16M 117.34M 117.38M 117.83M 117.65M 118.19M
Diluted Earnings per Share		 $0.68 $0.44 $0.48 $0.47 $0.45 $0.40 $0.42 $0.41 $0.44 $0.50 $0.33
Weighted Average Diluted Shares Outstanding		 117.24M 117.22M 117.41M 117.36M 117.50M 117.51M 117.96M 117.66M 118.24M 118.16M 118.66M
Weighted Average Basic & Diluted Shares Outstanding		 116.88M 117.09M 117.12M 117.18M 117.24M 117.33M 117.37M 117.39M 118.05M 118.14M 118.28M
Cash Dividends to Common per Share		 $0.54 - $0.54 $0.54 $0.54 - $0.54 $0.54 $0.54 - $0.54

Annual Cash Flow Statements for Kilroy Realty

This table details how cash moves in and out of Kilroy Realty's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -42 829 -183 104 -95 747 -396 -80 163 -344
Net Cash From Operating Activities		 272 345 347 410 387 456 516 592 603 541
Net Cash From Continuing Operating Activities		 272 345 347 410 387 456 516 592 603 541
Net Income / (Loss) Continuing Operations		 239 304 181 278 215 207 659 259 238 233
Consolidated Net Income / (Loss)		 239 304 181 278 215 207 659 259 238 233
Provision For Loan Losses		 0.55 0.00 3.27 - -3.43 19 1.43 -0.12 12 2.42
Depreciation Expense		 204 217 246 254 273 299 310 358 355 356
Amortization Expense		 -20 -18 -22 -27 -26 -21 -20 -25 -20 -13
Non-Cash Adjustments to Reconcile Net Income		 -156 -173 -49 -135 -82 -73 -471 -35 18 15
Changes in Operating Assets and Liabilities, net		 4.41 14 -12 40 9.70 24 37 36 -0.52 -52
Net Cash From Investing Activities		 -337 -579 -359 -809 -1,228 -542 -748 -553 -800 -225
Net Cash From Continuing Investing Activities		 -337 57 -359 -809 -1,228 -542 -748 -553 -800 -225
Purchase of Property, Leasehold Improvements and Equipment		 -100 -112 -88 -166 -148 -130 -121 -93 -97 -100
Purchase of Investment Securities		 -556 -351 -417 -1,058 -1,205 -487 -1,677 -494 -703 -401
Sale of Property, Leasehold Improvements and Equipment		 - - - - - - - 0.00 0.00 19
Sale and/or Maturity of Investments		 320 325 182 379 124 75 1,049 33 0.00 257
Net Cash From Financing Activities		 23 427 -171 503 747 833 -165 -119 361 -661
Net Cash From Continuing Financing Activities		 23 427 -171 503 747 833 -165 -119 361 -661
Issuance of Debt		 648 475 944 1,534 1,609 962 450 200 695 396
Repayment of Debt		 -875 -379 -919 -962 -986 -590 -317 -5.56 -26 -730
Payment of Dividends		 -140 -151 -348 -179 -196 -225 -237 -248 -255 -256
Other Financing Activities, Net		 3.15 451 26 -20 -33 -36 -60 -66 -53 -70

Quarterly Cash Flow Statements for Kilroy Realty

This table details how cash moves in and out of Kilroy Realty's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 40 84 129 -114 257 -109 345 -19 -210 -460 -19
Net Cash From Operating Activities		 205 108 182 101 209 110 168 89 176 108 137
Net Cash From Continuing Operating Activities		 205 108 182 101 209 110 168 89 176 108 137
Net Income / (Loss) Continuing Operations		 87 59 65 61 59 53 56 55 58 65 44
Consolidated Net Income / (Loss)		 87 59 65 61 59 53 56 55 58 65 44
Depreciation Expense		 81 91 94 90 85 86 88 87 92 89 87
Amortization Expense		 -6.87 -6.01 -6.42 -5.01 -4.20 -3.97 -3.85 -3.42 -2.90 -2.99 -3.04
Non-Cash Adjustments to Reconcile Net Income		 -19 -1.28 2.13 2.00 7.70 5.77 1.26 4.68 6.45 2.51 9.16
Changes in Operating Assets and Liabilities, net		 62 -35 25 -48 61 -38 23 -54 22 -43 0.00
Net Cash From Investing Activities		 -94 -146 -121 -138 -401 -140 77 -36 -174 -91 -77
Net Cash From Continuing Investing Activities		 -94 -146 -121 -138 -401 -140 77 -36 -174 -91 -77
Purchase of Property, Leasehold Improvements and Equipment		 -20 -27 -21 -24 -24 -29 -16 -19 -29 -36 -21
Purchase of Investment Securities		 -108 -119 -100 -114 -377 -111 -85 -95 111 -332 -55
Sale and/or Maturity of Investments		 - - 0.00 - - - 178 78 - - 0.00
Net Cash From Financing Activities		 -71 123 68 -78 449 -79 100 -72 -212 -476 -79
Net Cash From Continuing Financing Activities		 -71 123 68 -78 449 -79 100 -72 -212 -476 -79
Issuance of Debt		 - 200 150 - 545 - 396 - - - 0.00
Repayment of Debt		 -1.40 -1.41 -1.42 -1.44 -16 -7.76 -201 -1.49 -122 -405 -1.54
Payment of Dividends		 -61 -64 -64 -64 -64 -64 -64 -64 -64 -64 -64
Other Financing Activities, Net		 -8.44 -12 -17 -13 -16 -7.24 -30 -6.28 -27 -6.84 -13

Annual Balance Sheets for Kilroy Realty

This table presents Kilroy Realty's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 5,926 6,707 6,803 7,766 8,900 10,001 10,583 10,797 11,401 10,898
Cash and Due from Banks		 57 193 58 52 60 732 414 347 510 166
Trading Account Securities		 13 15 21 22 27 27 27 24 285 28
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 5,334 5,921 6,154 7,035 8,067 8,391 9,289 9,513 9,723 9,835
Deferred Acquisition Cost		 177 208 184 198 213 211 234 251 230 226
Other Assets		 346 312 378 340 516 536 605 641 640 633
Total Liabilities & Shareholders' Equity		 5,926 6,707 6,803 7,766 8,900 10,001 10,583 10,797 11,401 10,898
Total Liabilities		 2,692 2,947 2,843 3,564 4,329 4,723 4,894 5,122 5,741 5,289
Non-Interest Bearing Deposits		 49 52 56 60 67 69 75 81 79 71
Other Short-Term Payables		 281 425 - - 472 505 - 64 436 350
Long-Term Debt		 2,225 2,320 2,306 2,852 3,308 3,924 4,069 4,263 4,928 4,598
Other Long-Term Liabilities		 136 150 439 572 238 226 750 713 298 271
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,235 3,759 3,960 4,201 4,571 5,277 5,690 5,675 5,660 5,609
Total Preferred & Common Equity		 3,171 3,543 3,701 3,930 4,294 5,030 5,440 5,437 5,428 5,382
Total Common Equity		 2,979 3,351 3,701 3,930 4,294 5,030 5,440 5,437 5,428 5,382
Common Stock		 3,049 3,459 3,823 3,978 4,352 5,133 5,156 5,172 5,207 5,211
Retained Earnings		 -70 -108 -123 -48 -58 -103 284 265 221 171
Noncontrolling Interest		 64 216 260 271 277 247 250 238 232 227

Quarterly Balance Sheets for Kilroy Realty

This table presents Kilroy Realty's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 10,620 10,969 10,911 11,471 11,599 11,544 11,381 10,879
Cash and Due from Banks		 250 476 362 619 855 836 625 147
Trading Account Securities		 22 23 26 279 110 33 27 29
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 9,469 9,568 9,617 9,681 9,742 9,781 9,831 9,825
Deferred Acquisition Cost		 214 238 231 229 227 220 227 220
Other Assets		 635 664 665 652 653 674 659 646
Total Liabilities & Shareholders' Equity		 10,620 10,969 10,911 11,471 11,599 11,544 11,381 10,879
Total Liabilities		 4,940 5,297 5,243 5,804 5,956 5,909 5,772 5,299
Non-Interest Bearing Deposits		 83 81 78 75 74 73 71 78
Other Short-Term Payables		 488 - 64 64 467 - 420 357
Long-Term Debt		 4,068 4,413 4,413 4,935 5,120 5,121 5,001 4,598
Other Long-Term Liabilities		 301 804 688 730 295 716 280 266
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 5,680 5,672 5,668 5,668 5,643 5,634 5,609 5,580
Total Preferred & Common Equity		 5,439 5,434 5,434 5,434 5,413 5,406 5,380 5,356
Total Common Equity		 5,439 5,434 5,434 5,434 5,413 5,406 5,380 5,356
Common Stock		 5,163 5,177 5,185 5,196 5,210 5,218 5,204 5,212
Retained Earnings		 276 257 249 238 203 188 176 145
Noncontrolling Interest		 240 239 234 234 230 229 228 224

Annual Metrics And Ratios for Kilroy Realty

This table displays calculated financial ratios and metrics derived from Kilroy Realty's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 11.41% 10.55% 1.62% 6.83% 25.33% -5.33% 4.42% 26.93% 2.98% 0.53%
EBITDA Growth		 13.13% 43.58% -2.57% -26.45% 39.18% -11.80% 7.97% 36.34% 1.32% 1.79%
EBIT Growth		 37.57% 82.13% -12.13% -49.58% 90.03% -35.04% 13.98% 69.22% 1.61% 1.39%
NOPAT Growth		 37.57% 82.13% -12.13% -49.58% 90.03% -35.04% 13.98% 69.22% 1.61% 1.39%
Net Income Growth		 29.81% 27.32% -40.55% 53.88% -22.56% -3.69% 217.86% -60.62% -8.17% -2.24%
EPS Growth		 24.10% 22.73% -49.16% 68.87% -27.06% -12.37% 228.83% -63.25% -8.63% -1.67%
Operating Cash Flow Growth		 10.91% 26.85% 0.57% 18.16% -5.74% 17.87% 13.35% 14.68% 1.75% -10.20%
Free Cash Flow Firm Growth		 72.03% -218.86% 126.73% -934.81% -10.18% -18.64% 59.76% 139.74% -320.31% 323.59%
Invested Capital Growth		 5.14% 11.34% 3.08% 13.27% 14.44% 13.26% 6.06% 1.84% 6.54% -3.60%
Revenue Q/Q Growth		 3.13% 2.92% -6.69% 126.68% -34.86% 17.53% -35.67% 128.06% 3.09% 14.61%
EBITDA Q/Q Growth		 4.51% 31.86% -17.20% 188.91% -33.82% -4.01% -50.15% 1,024.25% 6.19% 27.07%
EBIT Q/Q Growth		 11.45% 62.01% -27.95% 240.29% -50.40% -12.35% -72.17% 220.60% 14.64% 72.20%
NOPAT Q/Q Growth		 66.49% 129.96% -27.95% 300.41% -50.40% -12.35% -72.17% 272.28% 14.64% 72.20%
Net Income Q/Q Growth		 -0.88% 2.05% -1.57% 93.57% -38.75% 34.13% -4.12% 1.70% -2.63% 5.43%
EPS Q/Q Growth		 -1.63% 0.34% 0.00% 105.65% -41.51% 32.52% -4.80% 2.07% -2.17% 5.99%
Operating Cash Flow Q/Q Growth		 8.54% 7.16% -5.96% 5.77% -1.95% 1.44% 3.45% -0.14% 0.37% -0.37%
Free Cash Flow Firm Q/Q Growth		 86.86% -284.44% 186.34% -1.40% -104.07% 20.05% -245.35% 145.06% 43.52% 283.08%
Invested Capital Q/Q Growth		 -7.37% 3.76% -1.02% 2.15% 3.53% 0.27% 1.51% 1.95% -0.13% -3.80%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 60.79% 78.95% 75.70% 52.12% 57.87% 53.92% 55.75% 59.88% 58.92% 59.66%
EBIT Margin		 29.07% 47.90% 41.42% 19.55% 29.64% 20.34% 22.20% 29.60% 29.20% 29.46%
Profit (Net Income) Margin		 41.05% 47.28% 27.66% 39.84% 24.62% 25.05% 76.24% 23.66% 21.09% 20.51%
Tax Burden Percent		 213.92% 119.74% 66.74% 225.64% 100.00% 120.69% 336.55% 107.16% 100.00% 100.00%
Interest Burden Percent		 66.01% 82.44% 100.07% 90.33% 83.06% 102.03% 102.04% 74.59% 72.23% 69.64%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 3.17% 5.33% 4.38% 2.04% 3.40% 1.94% 2.02% 3.30% 3.21% 3.22%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.14% 5.16% 0.50% 7.48% 2.04% 2.99% 13.71% 1.73% 1.22% 1.09%
Return on Net Nonoperating Assets (RNNOA)		 4.84% 3.35% 0.30% 4.77% 1.50% 2.27% 9.99% 1.27% 0.99% 0.92%
Return on Equity (ROE)		 8.01% 8.69% 4.68% 6.81% 4.91% 4.21% 12.02% 4.57% 4.20% 4.13%
Cash Return on Invested Capital (CROIC)		 -1.83% -5.40% 1.35% -10.41% -10.07% -10.49% -3.86% 1.48% -3.12% 6.89%
Operating Return on Assets (OROA)		 2.92% 4.87% 4.00% 1.87% 3.11% 1.78% 1.86% 3.04% 2.97% 3.00%
Return on Assets (ROA)		 4.13% 4.81% 2.67% 3.82% 2.58% 2.19% 6.40% 2.43% 2.15% 2.09%
Return on Common Equity (ROCE)		 7.33% 7.86% 4.27% 6.37% 4.60% 3.99% 11.47% 4.37% 4.03% 3.97%
Return on Equity Simple (ROE_SIMPLE)		 7.52% 8.57% 4.88% 7.07% 5.01% 4.12% 12.11% 4.77% 4.39% 4.33%
Net Operating Profit after Tax (NOPAT)		 169 308 270 136 259 168 192 325 330 335
NOPAT Margin		 29.07% 47.90% 41.42% 19.55% 29.64% 20.34% 22.20% 29.60% 29.20% 29.46%
Net Nonoperating Expense Percent (NNEP)		 -2.97% 0.17% 3.88% -5.44% 1.36% -1.04% -11.69% 1.56% 1.99% 2.13%
SG&A Expenses to Revenue		 0.53% 0.54% 0.97% 0.89% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 70.93% 52.10% 58.58% 80.45% 70.36% 79.66% 77.80% 70.40% 70.80% 70.54%
Earnings before Interest and Taxes (EBIT)		 169 308 270 136 259 168 192 325 330 335
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 353 507 494 364 506 446 482 657 666 678
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.41 1.52 1.53 1.28 1.69 1.11 1.23 0.73 0.81 0.89
Price to Tangible Book Value (P/TBV)		 1.41 1.52 1.53 1.28 1.69 1.11 1.23 0.73 0.81 0.89
Price to Revenue (P/Rev)		 7.23 7.95 8.70 7.21 8.28 6.73 7.77 3.63 3.89 4.20
Price to Earnings (P/E)		 19.02 18.20 37.54 19.46 37.02 29.77 10.69 17.13 20.73 22.63
Dividend Yield		 3.07% 5.42% 2.86% 3.59% 2.80% 4.08% 3.54% 6.22% 5.76% 5.34%
Earnings Yield		 5.26% 5.49% 2.66% 5.14% 2.70% 3.36% 9.35% 5.84% 4.82% 4.42%
Enterprise Value to Invested Capital (EV/IC)		 1.21 1.25 1.30 1.13 1.35 0.97 1.09 0.82 0.85 0.92
Enterprise Value to Revenue (EV/Rev)		 11.40 11.81 12.52 11.50 12.57 10.78 12.27 7.42 8.01 8.31
Enterprise Value to EBITDA (EV/EBITDA)		 18.75 14.95 16.54 22.07 21.72 19.98 22.01 12.39 13.60 13.92
Enterprise Value to EBIT (EV/EBIT)		 39.21 24.65 30.24 58.85 42.41 52.98 55.28 25.06 27.43 28.20
Enterprise Value to NOPAT (EV/NOPAT)		 39.21 24.65 30.24 58.85 42.41 52.98 55.28 25.06 27.43 28.20
Enterprise Value to Operating Cash Flow (EV/OCF)		 24.36 21.98 23.57 19.57 28.43 19.58 20.54 13.74 15.02 17.43
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 98.17 0.00 0.00 0.00 0.00 55.99 0.00 13.18
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.69 0.62 0.58 0.69 0.78 0.74 0.72 0.75 0.87 0.82
Long-Term Debt to Equity		 0.69 0.62 0.58 0.68 0.72 0.74 0.72 0.75 0.87 0.82
Financial Leverage		 0.79 0.65 0.60 0.64 0.74 0.76 0.73 0.73 0.81 0.85
Leverage Ratio		 1.94 1.81 1.75 1.79 1.90 1.92 1.88 1.88 1.96 1.98
Compound Leverage Factor		 1.28 1.49 1.75 1.61 1.58 1.96 1.92 1.40 1.41 1.38
Debt to Total Capital		 40.76% 38.16% 36.80% 40.81% 43.73% 42.64% 41.69% 42.90% 46.55% 45.05%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.63% 3.02% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 40.76% 38.16% 36.80% 40.18% 40.72% 42.64% 41.69% 42.90% 46.55% 45.05%
Preferred Equity to Total Capital		 3.52% 3.16% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.17% 3.56% 4.14% 3.82% 3.41% 2.69% 2.56% 2.39% 2.19% 2.22%
Common Equity to Total Capital		 54.55% 55.11% 59.06% 55.36% 52.85% 54.67% 55.75% 54.71% 51.27% 52.73%
Debt to EBITDA		 6.30 4.57 4.67 7.97 7.02 8.79 8.44 6.49 7.40 6.79
Net Debt to EBITDA		 6.14 4.08 4.53 7.50 6.87 6.95 7.56 5.96 6.64 6.54
Long-Term Debt to EBITDA		 6.30 4.57 4.67 7.85 6.54 8.79 8.44 6.49 7.40 6.79
Debt to NOPAT		 13.17 7.54 8.53 21.25 13.71 23.31 21.21 13.13 14.94 13.74
Net Debt to NOPAT		 12.83 6.73 8.28 19.99 13.42 18.42 18.98 12.06 13.39 13.25
Long-Term Debt to NOPAT		 13.17 7.54 8.53 20.92 12.77 23.31 21.21 13.13 14.94 13.74
Noncontrolling Interest Sharing Ratio		 8.49% 9.50% 8.66% 6.50% 6.26% 5.33% 4.53% 4.29% 4.14% 4.07%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -98 -312 83 -695 -766 -909 -366 145 -320 716
Operating Cash Flow to CapEx		 273.22% 308.19% 392.44% 246.36% 261.72% 351.81% 428.16% 638.17% 618.72% 668.51%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 1.26 -13.99 0.00 -12.84 -4.66 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 5.25 8.25 0.00 6.44 6.57 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 3.92 4.90 0.00 4.61 5.04 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.10 0.10 0.10 0.10 0.10 0.09 0.08 0.10 0.10 0.10
Fixed Asset Turnover		 0.11 0.11 0.11 0.11 0.12 0.10 0.10 0.12 0.12 0.12
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 5,460 6,079 6,267 7,098 8,124 9,201 9,759 9,938 10,588 10,207
Invested Capital Turnover		 0.11 0.11 0.11 0.10 0.11 0.10 0.09 0.11 0.11 0.11
Increase / (Decrease) in Invested Capital		 267 619 187 832 1,025 1,077 558 179 650 -381
Enterprise Value (EV)		 6,625 7,586 8,177 8,025 10,989 8,918 10,607 8,137 9,049 9,434
Market Capitalization		 4,201 5,107 5,678 5,028 7,235 5,570 6,715 3,984 4,399 4,775
Book Value per Share		 $32.30 $36.31 $37.62 $39.01 $40.50 $43.64 $46.71 $46.52 $46.30 $45.59
Tangible Book Value per Share		 $32.30 $36.31 $37.62 $39.01 $40.50 $43.64 $46.71 $46.52 $46.30 $45.59
Total Capital		 5,460 6,079 6,267 7,098 8,124 9,201 9,759 9,938 10,588 10,207
Total Debt		 2,225 2,320 2,306 2,897 3,553 3,924 4,069 4,263 4,928 4,598
Total Long-Term Debt		 2,225 2,320 2,306 2,852 3,308 3,924 4,069 4,263 4,928 4,598
Net Debt		 2,168 2,070 2,239 2,726 3,476 3,101 3,642 3,916 4,418 4,432
Capital Expenditures (CapEx)		 100 112 88 166 148 130 121 93 97 81
Net Nonoperating Expense (NNE)		 -70 3.96 90 -142 44 -39 -467 65 92 102
Net Nonoperating Obligations (NNO)		 2,225 2,320 2,306 2,897 3,553 3,924 4,069 4,263 4,928 4,598
Total Depreciation and Amortization (D&A)		 184 200 224 227 247 278 290 332 336 343
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.44 $3.00 $1.52 $2.56 $1.87 $1.63 $5.38 $1.98 $1.80 $1.78
Adjusted Weighted Average Basic Shares Outstanding		 89.85M 92.34M 98.11M 99.97M 103.20M 113.24M 116.43M 116.81M 117.16M 117.65M
Adjusted Diluted Earnings per Share		 $2.42 $2.97 $1.51 $2.55 $1.86 $1.63 $5.36 $1.97 $1.80 $1.77
Adjusted Weighted Average Diluted Shares Outstanding		 90.40M 93.02M 98.73M 100.48M 103.85M 113.72M 116.95M 117.22M 117.51M 118.16M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $1.87 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 92.28M 97.77M 98.72M 100.96M 106.17M 116.37M 116.72M 117.09M 117.33M 118.14M
Normalized Net Operating Profit after Tax (NOPAT)		 119 217 189 95 181 118 134 227 231 234
Normalized NOPAT Margin		 20.41% 33.73% 28.99% 13.68% 20.75% 14.24% 15.54% 20.72% 20.44% 20.62%
Pre Tax Income Margin		 19.19% 39.49% 41.45% 17.66% 24.62% 20.75% 22.65% 22.08% 21.09% 20.51%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 4.10 2.74 0.00 2.38 2.44 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 4.10 2.74 0.00 2.38 2.44 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 2.76 -0.61 0.00 0.55 0.91 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 2.76 -0.61 0.00 0.55 0.91 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 58.71% 49.60% 192.73% 64.55% 91.18% 108.34% 36.02% 95.40% 107.19% 110.02%
Augmented Payout Ratio		 58.71% 49.60% 192.73% 64.55% 91.18% 108.34% 36.02% 95.40% 107.19% 110.02%

Quarterly Metrics And Ratios for Kilroy Realty

This table displays calculated financial ratios and metrics derived from Kilroy Realty's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 18.39% 227.38% 9.09% 13.23% 10.79% -14.60% -10.27% -1.25% 2.24% 10.37% -2.78%
EBITDA Growth		 18.18% 161.49% 6.36% 17.97% 13.46% -19.96% -16.11% -2.73% 6.63% 16.51% -4.77%
EBIT Growth		 31.45% 131.57% 7.53% 56.43% 18.14% -29.58% -33.34% -3.57% 3.47% 25.95% -9.57%
NOPAT Growth		 31.45% 145.09% 7.53% 56.43% 18.14% -29.58% -33.34% -3.57% 3.47% 25.95% -9.57%
Net Income Growth		 62.00% 7.89% 9.85% 13.52% -32.22% -10.81% -14.61% -10.98% -1.81% 22.60% -21.58%
EPS Growth		 70.00% 10.00% 6.67% 17.50% -33.82% -9.09% -12.50% -12.77% -2.22% 25.00% -21.43%
Operating Cash Flow Growth		 7.42% -0.77% 1.95% 1.12% 1.72% 2.05% -7.83% -12.54% -15.55% -1.80% -18.44%
Free Cash Flow Firm Growth		 83.11% 95.78% -490.08% -448.54% -1,088.03% -1,391.99% -121.43% -115.15% 109.96% 192.37% 210.51%
Invested Capital Growth		 1.40% 1.84% 3.60% 3.70% 8.77% 6.54% 6.72% 6.69% 0.07% -3.60% -5.44%
Revenue Q/Q Growth		 1.96% 34.81% 2.43% 6.42% -0.24% 3.91% 13.98% 17.11% 3.28% 12.18% -16.73%
EBITDA Q/Q Growth		 -0.32% 59.01% 5.17% 12.29% -4.13% 12.18% 29.26% 30.21% 5.10% 22.58% -25.68%
EBIT Q/Q Growth		 28.20% 106.40% 9.55% 32.10% -3.18% 23.03% 166.24% 91.08% 3.90% 49.75% -41.56%
NOPAT Q/Q Growth		 28.20% 106.40% 9.55% 32.10% -3.18% 23.03% 166.24% 91.08% 3.90% 49.75% -41.56%
Net Income Q/Q Growth		 60.56% -31.37% 9.68% -6.06% -4.14% -9.69% 5.00% -2.07% 5.73% 12.76% -32.83%
EPS Q/Q Growth		 70.00% -35.29% 9.09% -2.08% -4.26% -11.11% 5.00% -2.38% 7.32% 13.64% -34.00%
Operating Cash Flow Q/Q Growth		 104.69% -47.39% 68.64% -44.32% 105.90% -47.22% 52.30% -47.17% 98.83% -38.62% 26.50%
Free Cash Flow Firm Q/Q Growth		 -29.52% 43.38% -136.95% 3.97% -180.51% 28.89% -0.21% 6.69% 112.99% 559.26% 29.78%
Invested Capital Q/Q Growth		 0.28% 1.95% 1.48% -0.04% 5.18% -0.13% 1.65% -0.08% -1.35% -3.80% -0.28%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 55.98% 66.04% 56.54% 59.65% 57.33% 61.89% 52.85% 58.76% 59.80% 65.34% 58.31%
EBIT Margin		 26.97% 41.29% 23.87% 29.63% 28.76% 34.05% 17.73% 28.93% 29.11% 38.86% 27.27%
Profit (Net Income) Margin		 33.85% 17.24% 24.42% 21.55% 20.71% 18.00% 23.24% 19.43% 19.89% 20.00% 16.13%
Tax Burden Percent		 124.99% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.43% 41.74% 102.29% 72.74% 72.02% 52.86% 131.03% 67.15% 68.34% 51.46% 59.15%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 1.34% 4.60% 2.49% 3.20% 3.10% 3.75% 1.68% 2.73% 2.72% 4.24% 2.94%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.78% 2.61% 2.53% 2.66% 2.59% 2.72% 1.96% 2.17% 2.18% 2.96% 2.32%
Return on Net Nonoperating Assets (RNNOA)		 1.25% 1.91% 1.89% 1.99% 2.06% 2.20% 1.65% 1.83% 1.92% 2.50% 2.01%
Return on Equity (ROE)		 2.59% 6.51% 4.38% 5.19% 5.15% 5.95% 3.33% 4.57% 4.64% 6.74% 4.94%
Cash Return on Invested Capital (CROIC)		 -3.33% 1.48% -1.07% -0.85% -5.57% -3.12% -4.64% -4.63% 1.76% 6.89% 8.71%
Operating Return on Assets (OROA)		 1.23% 4.24% 2.29% 2.95% 2.85% 3.47% 1.55% 2.54% 2.52% 3.96% 2.74%
Return on Assets (ROA)		 1.54% 1.77% 2.35% 2.15% 2.05% 1.83% 2.03% 1.70% 1.73% 2.04% 1.62%
Return on Common Equity (ROCE)		 2.48% 6.23% 4.20% 4.97% 4.94% 5.71% 3.19% 4.38% 4.45% 6.47% 4.74%
Return on Equity Simple (ROE_SIMPLE)		 4.69% 0.00% 4.88% 5.02% 4.50% 0.00% 4.23% 4.11% 4.11% 0.00% 4.12%
Net Operating Profit after Tax (NOPAT)		 69 142 64 84 82 100 43 81 84 126 74
NOPAT Margin		 26.97% 41.29% 23.87% 29.63% 28.76% 34.05% 17.73% 28.93% 29.11% 38.86% 27.27%
Net Nonoperating Expense Percent (NNEP)		 -0.44% 1.99% -0.03% 0.54% 0.51% 1.03% -0.28% 0.56% 0.54% 1.29% 0.62%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 73.03% 58.71% 76.13% 70.37% 71.24% 65.95% 82.27% 71.07% 70.89% 61.14% 72.73%
Earnings before Interest and Taxes (EBIT)		 69 142 64 84 82 100 43 81 84 126 74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 143 228 151 170 163 182 127 165 173 213 158
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.81 0.73 0.64 0.61 0.64 0.81 0.78 0.68 0.84 0.89 0.72
Price to Tangible Book Value (P/TBV)		 0.81 0.73 0.64 0.61 0.64 0.81 0.78 0.68 0.84 0.89 0.72
Price to Revenue (P/Rev)		 9.14 3.63 3.38 3.10 3.18 3.89 4.25 3.72 4.58 4.20 3.43
Price to Earnings (P/E)		 19.31 17.13 14.81 13.52 16.03 20.73 20.42 18.37 22.85 22.63 19.35
Dividend Yield		 5.58% 6.22% 7.17% 7.65% 7.25% 5.76% 6.03% 6.93% 5.58% 5.34% 6.59%
Earnings Yield		 5.18% 5.84% 6.75% 7.39% 6.24% 4.82% 4.90% 5.44% 4.38% 4.42% 5.17%
Enterprise Value to Invested Capital (EV/IC)		 0.87 0.82 0.76 0.75 0.76 0.85 0.81 0.76 0.86 0.92 0.84
Enterprise Value to Revenue (EV/Rev)		 17.55 7.42 7.41 7.11 7.34 8.01 8.80 8.30 9.23 8.31 7.58
Enterprise Value to EBITDA (EV/EBITDA)		 144.44 12.39 13.19 12.50 12.82 13.60 16.49 15.64 17.15 13.92 12.76
Enterprise Value to EBIT (EV/EBIT)		 0.00 25.06 31.33 27.58 27.93 27.43 44.71 42.69 47.09 28.20 26.16
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 25.06 31.33 27.58 27.93 27.43 44.71 42.69 47.09 28.20 26.16
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.23 13.74 12.88 12.72 13.39 15.02 14.77 14.20 16.84 17.43 16.75
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 55.99 0.00 0.00 0.00 0.00 0.00 0.00 48.94 13.18 9.37
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.72 0.75 0.78 0.78 0.87 0.87 0.91 0.91 0.89 0.82 0.82
Long-Term Debt to Equity		 0.72 0.75 0.78 0.78 0.87 0.87 0.91 0.91 0.89 0.82 0.82
Financial Leverage		 0.70 0.73 0.75 0.75 0.79 0.81 0.84 0.84 0.88 0.85 0.87
Leverage Ratio		 1.85 1.88 1.90 1.89 1.95 1.96 1.99 1.99 2.03 1.98 2.00
Compound Leverage Factor		 1.86 0.79 1.94 1.38 1.40 1.04 2.61 1.33 1.38 1.02 1.18
Debt to Total Capital		 41.73% 42.90% 43.75% 43.78% 46.54% 46.55% 47.57% 47.61% 47.14% 45.05% 45.18%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 41.73% 42.90% 43.75% 43.78% 46.54% 46.55% 47.57% 47.61% 47.14% 45.05% 45.18%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 2.47% 2.39% 2.37% 2.32% 2.20% 2.19% 2.13% 2.13% 2.15% 2.22% 2.20%
Common Equity to Total Capital		 55.80% 54.71% 53.88% 53.91% 51.25% 51.27% 50.29% 50.26% 50.71% 52.73% 52.63%
Debt to EBITDA		 69.62 6.49 7.59 7.26 7.87 7.40 9.72 9.80 9.38 6.79 6.87
Net Debt to EBITDA		 65.12 5.96 6.77 6.67 6.89 6.64 8.09 8.20 8.21 6.54 6.65
Long-Term Debt to EBITDA		 69.62 6.49 7.59 7.26 7.87 7.40 9.72 9.80 9.38 6.79 6.87
Debt to NOPAT		 -21.59 13.13 18.02 16.03 17.15 14.94 26.33 26.75 25.74 13.74 14.07
Net Debt to NOPAT		 -20.19 12.06 16.07 14.72 15.00 13.39 21.94 22.38 22.53 13.25 13.62
Long-Term Debt to NOPAT		 -21.59 13.13 18.02 16.03 17.15 14.94 26.33 26.75 25.74 13.74 14.07
Noncontrolling Interest Sharing Ratio		 4.28% 4.29% 4.23% 4.18% 4.18% 4.14% 4.14% 4.09% 4.10% 4.07% 4.04%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -65 -37 -287 -276 -773 -550 -636 -593 77 508 659
Operating Cash Flow to CapEx		 1,025.69% 395.97% 871.84% 418.69% 879.60% 386.21% 1,050.43% 461.61% 604.23% 301.31% 642.43%
Free Cash Flow to Firm to Interest Expense		 -3.26 0.00 -11.18 0.00 0.00 0.00 -16.35 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 10.27 0.00 7.10 0.00 0.00 0.00 4.32 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 9.27 0.00 6.28 0.00 0.00 0.00 3.91 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.10 0.10 0.10 0.10 0.10 0.09 0.09 0.09 0.10 0.10
Fixed Asset Turnover		 0.05 0.12 0.11 0.11 0.11 0.12 0.10 0.10 0.10 0.12 0.12
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 9,748 9,938 10,085 10,081 10,602 10,588 10,763 10,755 10,610 10,207 10,178
Invested Capital Turnover		 0.05 0.11 0.10 0.11 0.11 0.11 0.09 0.09 0.09 0.11 0.11
Increase / (Decrease) in Invested Capital		 134 179 351 360 855 650 678 674 7.37 -381 -585
Enterprise Value (EV)		 8,440 8,137 7,671 7,592 8,038 9,049 8,692 8,172 9,147 9,434 8,545
Market Capitalization		 4,395 3,984 3,496 3,307 3,489 4,399 4,197 3,658 4,543 4,775 3,870
Book Value per Share		 $46.54 $46.52 $46.41 $46.40 $46.37 $46.30 $46.13 $46.06 $45.83 $45.59 $45.34
Tangible Book Value per Share		 $46.54 $46.52 $46.41 $46.40 $46.37 $46.30 $46.13 $46.06 $45.83 $45.59 $45.34
Total Capital		 9,748 9,938 10,085 10,081 10,602 10,588 10,763 10,755 10,610 10,207 10,178
Total Debt		 4,068 4,263 4,413 4,413 4,935 4,928 5,120 5,121 5,001 4,598 4,598
Total Long-Term Debt		 4,068 4,263 4,413 4,413 4,935 4,928 5,120 5,121 5,001 4,598 4,598
Net Debt		 3,805 3,916 3,936 4,051 4,316 4,418 4,265 4,285 4,376 4,432 4,451
Capital Expenditures (CapEx)		 20 27 21 24 24 29 16 19 29 36 21
Net Nonoperating Expense (NNE)		 -18 83 -1.46 23 23 47 -13 27 27 61 30
Net Nonoperating Obligations (NNO)		 4,068 4,263 4,413 4,413 4,935 4,928 5,120 5,121 5,001 4,598 4,598
Total Depreciation and Amortization (D&A)		 74 85 87 85 81 82 84 84 89 86 84
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.68 $0.45 $0.48 $0.47 $0.45 $0.40 $0.42 $0.41 $0.44 $0.51 $0.33
Adjusted Weighted Average Basic Shares Outstanding		 116.87M 116.81M 117.06M 117.15M 117.18M 117.16M 117.34M 117.38M 117.83M 117.65M 118.19M
Adjusted Diluted Earnings per Share		 $0.68 $0.44 $0.48 $0.47 $0.45 $0.40 $0.42 $0.41 $0.44 $0.50 $0.33
Adjusted Weighted Average Diluted Shares Outstanding		 117.24M 117.22M 117.41M 117.36M 117.50M 117.51M 117.96M 117.66M 118.24M 118.16M 118.66M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 116.88M 117.09M 117.12M 117.18M 117.24M 117.33M 117.37M 117.39M 118.05M 118.14M 118.28M
Normalized Net Operating Profit after Tax (NOPAT)		 48 100 45 59 57 70 30 57 59 88 52
Normalized NOPAT Margin		 18.88% 28.90% 16.71% 20.74% 20.13% 23.84% 12.41% 20.25% 20.38% 27.20% 19.09%
Pre Tax Income Margin		 27.09% 17.24% 24.42% 21.55% 20.71% 18.00% 23.24% 19.43% 19.89% 20.00% 16.13%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.45 0.00 2.48 0.00 0.00 0.00 1.09 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 3.45 0.00 2.48 0.00 0.00 0.00 1.09 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 2.45 0.00 1.67 0.00 0.00 0.00 0.68 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 2.45 0.00 1.67 0.00 0.00 0.00 0.68 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 96.02% 95.40% 94.27% 92.69% 104.30% 107.19% 111.75% 115.19% 115.80% 110.02% 116.21%
Augmented Payout Ratio		 96.02% 95.40% 94.27% 92.69% 104.30% 107.19% 111.75% 115.19% 115.80% 110.02% 116.21%

Key Financial Trends

Kilroy Realty (NYSE: KRC) recent quarterly financial performance and trends:

  • Q1 2025 net income to common shareholders was $39.0 million, showing profitability despite a decrease from the prior quarters.
  • Total revenue in Q1 2025 was $270.8 million, supported mainly by non-interest income ($270.8 million).
  • Operating cash flow in Q1 2025 was robust at $136.9 million, reflecting strong cash generation from core operations.
  • Kilroy maintains a large asset base (~$10.88 billion in Q1 2025) dominated by premises and equipment (~$9.82 billion), indicating substantial real estate holdings.
  • The company continues to pay steady dividends at $0.54 per share each quarter, reflecting a commitment to returning cash to shareholders.
  • Long-term debt was $4.6 billion in Q1 2025, relatively stable but represents significant leverage.
  • Total equity including noncontrolling interests is $5.58 billion as of Q1 2025, providing a solid equity base.
  • Depreciation expense remains high, around $87 million quarterly, reflecting ongoing investment and asset base aging.
  • Non-operating expenses (net) increased to -$30.2 million in Q1 2025, negatively impacting pre-tax income.
  • Total revenue declined from $325 million in Q4 2024 to $270.8 million in Q1 2025, a drop of about 17%, signaling potential slowing top-line growth.

Trend summary over the past year:

  • The company maintained profitability each quarter with net income attributable to common shareholders consistently between $39 million and $65 million quarterly from Q1 2024 through Q1 2025.
  • Operating cash flow has remained strong and fairly steady, ranging from $88 million to around $176 million per quarter, supporting capital expenditures and financing activities.
  • Capital expenditures and purchases of investment securities remain significant, typically $20 million to $35 million in property improvements and $55 million to $111 million in investments each quarter, signaling ongoing asset renewal and portfolio management.
  • Cash and cash equivalents fluctuated substantially, peaking above $855 million in early 2024 and declining to around $147 million by Q1 2025, reflecting active cash management and financing activity.
  • The company faces recurring negative nonoperating income impacts each quarter, with increased net non-operating expense notably in Q4 2024 and Q1 2025, causing pressure on pre-tax earnings.
  • Long term debt gradually increased from $4.4 billion in early 2023 to about $5.0 billion in late 2024 before slightly declining to $4.6 billion in Q1 2025, indicating varying financing levels and potential leverage risk.

Overall Analysis: Kilroy Realty demonstrates consistent profitability and strong operating cash flow supported by its premium real estate assets. Earnings per share have shown a modest decline in recent quarters, partly due to increased non-operating expenses and a dip in total revenue. The company's balanced capital expenditures and steady dividend payments are positives. However, the decline in cash reserves and persistent negative nonoperating costs may warrant closer attention. Leverage levels remain high but stable with moderate adjustments. Investors should watch upcoming earnings for signs of revenue stabilization and any changes in non-operating expense trends.

08/29/25 10:48 AM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Kilroy Realty's Financials

When does Kilroy Realty's fiscal year end?

According to the most recent income statement we have on file, Kilroy Realty's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Kilroy Realty's net income changed over the last 9 years?

Kilroy Realty's net income appears to be on an upward trend, with a most recent value of $232.95 million in 2024, falling from $238.60 million in 2015. The previous period was $238.29 million in 2023. See Kilroy Realty's forecast for analyst expectations on what’s next for the company.

How has Kilroy Realty's revenue changed over the last 9 years?

Over the last 9 years, Kilroy Realty's total revenue changed from $581.28 million in 2015 to $1.14 billion in 2024, a change of 95.4%.

How much debt does Kilroy Realty have?

Kilroy Realty's total liabilities were at $5.29 billion at the end of 2024, a 7.9% decrease from 2023, and a 96.5% increase since 2015.

How much cash does Kilroy Realty have?

In the past 9 years, Kilroy Realty's cash and equivalents has ranged from $51.60 million in 2018 to $731.99 million in 2020, and is currently $165.69 million as of their latest financial filing in 2024.

How has Kilroy Realty's book value per share changed over the last 9 years?

Over the last 9 years, Kilroy Realty's book value per share changed from 32.30 in 2015 to 45.59 in 2024, a change of 41.2%.


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This page (NYSE:KRC) was last updated on 8/29/2025 by MarketBeat.com Staff
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