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.
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 |
|
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
| Net Income / (Loss) Attributable to Common Shareholders |
|
56 |
53 |
47 |
50 |
49 |
52 |
59 |
39 |
68 |
156 |
12 |
| Consolidated Net Income / (Loss) |
|
61 |
59 |
53 |
56 |
55 |
58 |
65 |
44 |
80 |
162 |
17 |
| Net Income / (Loss) Continuing Operations |
|
61 |
59 |
53 |
56 |
55 |
58 |
65 |
44 |
80 |
162 |
17 |
| Total Pre-Tax Income |
|
61 |
59 |
53 |
56 |
55 |
58 |
65 |
44 |
80 |
162 |
17 |
| Total Revenue |
|
284 |
284 |
295 |
279 |
281 |
290 |
325 |
271 |
306 |
390 |
272 |
| Total Non-Interest Income |
|
284 |
284 |
269 |
279 |
281 |
290 |
286 |
271 |
306 |
390 |
272 |
| Other Service Charges |
|
2.97 |
2.91 |
3.37 |
3.69 |
4.81 |
3.99 |
5.02 |
4.60 |
4.82 |
4.84 |
4.82 |
| Other Non-Interest Income |
|
281 |
281 |
266 |
275 |
276 |
286 |
281 |
266 |
285 |
275 |
267 |
| Total Non-Interest Expense |
|
200 |
202 |
194 |
197 |
199 |
205 |
199 |
197 |
197 |
199 |
209 |
| Other Operating Expenses |
|
110 |
117 |
108 |
109 |
112 |
114 |
110 |
110 |
109 |
112 |
116 |
| Depreciation Expense |
|
90 |
85 |
86 |
88 |
87 |
92 |
89 |
87 |
88 |
87 |
93 |
| Nonoperating Income / (Expense), net |
|
-23 |
-23 |
-47 |
-26 |
-27 |
-27 |
-61 |
-30 |
-30 |
-29 |
-46 |
| Net Income / (Loss) Attributable to Noncontrolling Interest |
|
5.69 |
5.98 |
5.76 |
5.78 |
5.34 |
5.30 |
5.57 |
4.67 |
11 |
6.06 |
4.67 |
| Basic Earnings per Share |
|
$0.47 |
$0.45 |
$0.40 |
$0.42 |
$0.41 |
$0.44 |
$0.51 |
$0.33 |
$0.58 |
$1.32 |
$0.10 |
| Weighted Average Basic Shares Outstanding |
|
117.15M |
117.18M |
117.16M |
117.34M |
117.38M |
117.83M |
117.65M |
118.19M |
118.29M |
118.30M |
118.28M |
| Diluted Earnings per Share |
|
$0.47 |
$0.45 |
$0.40 |
$0.42 |
$0.41 |
$0.44 |
$0.50 |
$0.33 |
$0.57 |
$1.31 |
$0.11 |
| Weighted Average Diluted Shares Outstanding |
|
117.36M |
117.50M |
117.51M |
117.96M |
117.66M |
118.24M |
118.16M |
118.66M |
118.68M |
118.82M |
118.83M |
| Weighted Average Basic & Diluted Shares Outstanding |
|
117.18M |
117.24M |
117.33M |
117.37M |
117.39M |
118.05M |
118.14M |
118.28M |
118.29M |
118.31M |
118.50M |
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 |
2025 |
| Net Change in Cash & Equivalents |
|
-42 |
829 |
-183 |
104 |
-95 |
747 |
-396 |
-80 |
163 |
-344 |
14 |
| Net Cash From Operating Activities |
|
272 |
345 |
347 |
410 |
387 |
456 |
516 |
592 |
603 |
541 |
566 |
| Net Cash From Continuing Operating Activities |
|
272 |
345 |
347 |
410 |
387 |
456 |
516 |
592 |
603 |
541 |
566 |
| Net Income / (Loss) Continuing Operations |
|
239 |
304 |
181 |
278 |
215 |
207 |
659 |
259 |
238 |
233 |
303 |
| Consolidated Net Income / (Loss) |
|
239 |
304 |
181 |
278 |
215 |
207 |
659 |
259 |
238 |
233 |
303 |
| Depreciation Expense |
|
204 |
217 |
246 |
254 |
273 |
299 |
310 |
358 |
355 |
356 |
355 |
| Amortization Expense |
|
-20 |
-18 |
-22 |
-27 |
-26 |
-21 |
-20 |
-25 |
-20 |
-13 |
-12 |
| Non-Cash Adjustments to Reconcile Net Income |
|
-156 |
-173 |
-49 |
-135 |
-82 |
-73 |
-471 |
-35 |
29 |
17 |
-79 |
| Changes in Operating Assets and Liabilities, net |
|
4.41 |
14 |
-12 |
40 |
9.70 |
24 |
37 |
36 |
-0.52 |
-52 |
-0.80 |
| Net Cash From Investing Activities |
|
-337 |
-579 |
-359 |
-809 |
-1,228 |
-542 |
-748 |
-553 |
-800 |
-225 |
-240 |
| Net Cash From Continuing Investing Activities |
|
-337 |
57 |
-359 |
-809 |
-1,228 |
-542 |
-748 |
-553 |
-800 |
-225 |
-240 |
| Purchase of Property, Leasehold Improvements and Equipment |
|
-100 |
-112 |
-88 |
-166 |
-148 |
-130 |
-121 |
-93 |
-97 |
-100 |
-116 |
| Purchase of Investment Securities |
|
-556 |
-351 |
-417 |
-1,058 |
-1,205 |
-487 |
-1,677 |
-494 |
-703 |
-144 |
-572 |
| Sale of Property, Leasehold Improvements and Equipment |
|
- |
- |
- |
- |
- |
- |
- |
0.00 |
0.00 |
19 |
0.00 |
| Sale and/or Maturity of Investments |
|
320 |
325 |
182 |
379 |
124 |
75 |
1,049 |
33 |
0.00 |
0.00 |
448 |
| Net Cash From Financing Activities |
|
23 |
427 |
-171 |
503 |
747 |
833 |
-165 |
-119 |
361 |
-661 |
-313 |
| Net Cash From Continuing Financing Activities |
|
23 |
427 |
-171 |
503 |
747 |
833 |
-165 |
-119 |
361 |
-661 |
-313 |
| Issuance of Debt |
|
648 |
475 |
944 |
1,534 |
1,609 |
962 |
450 |
200 |
695 |
396 |
461 |
| Repayment of Debt |
|
-875 |
-379 |
-919 |
-962 |
-986 |
-590 |
-317 |
-5.56 |
-26 |
-730 |
-471 |
| Payment of Dividends |
|
-140 |
-151 |
-348 |
-179 |
-196 |
-225 |
-237 |
-248 |
-255 |
-256 |
-258 |
| Other Financing Activities, Net |
|
3.15 |
451 |
26 |
-20 |
-33 |
-36 |
-60 |
-66 |
-53 |
-70 |
-45 |
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 |
|
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
| Net Change in Cash & Equivalents |
|
-114 |
257 |
-109 |
345 |
-19 |
-210 |
-460 |
-19 |
46 |
179 |
-193 |
| Net Cash From Operating Activities |
|
101 |
209 |
110 |
168 |
89 |
176 |
108 |
137 |
144 |
177 |
109 |
| Net Cash From Continuing Operating Activities |
|
101 |
209 |
110 |
168 |
89 |
176 |
108 |
137 |
144 |
177 |
109 |
| Net Income / (Loss) Continuing Operations |
|
61 |
59 |
53 |
56 |
55 |
58 |
65 |
44 |
80 |
162 |
17 |
| Consolidated Net Income / (Loss) |
|
61 |
59 |
53 |
56 |
55 |
58 |
65 |
44 |
80 |
162 |
17 |
| Depreciation Expense |
|
90 |
85 |
86 |
88 |
87 |
92 |
89 |
87 |
88 |
87 |
93 |
| Amortization Expense |
|
-5.01 |
-4.20 |
-3.97 |
-3.85 |
-3.42 |
-2.90 |
-2.99 |
-3.04 |
-3.16 |
-2.91 |
-2.73 |
| Non-Cash Adjustments to Reconcile Net Income |
|
2.00 |
7.70 |
5.77 |
5.14 |
4.68 |
6.45 |
2.51 |
9.16 |
-9.24 |
-104 |
25 |
| Changes in Operating Assets and Liabilities, net |
|
-48 |
61 |
-38 |
23 |
-54 |
22 |
-43 |
0.00 |
-11 |
33 |
-23 |
| Net Cash From Investing Activities |
|
-138 |
-401 |
-140 |
77 |
-36 |
-174 |
-91 |
-77 |
-24 |
89 |
-229 |
| Net Cash From Continuing Investing Activities |
|
-138 |
-401 |
-140 |
77 |
-36 |
-174 |
-91 |
-77 |
-24 |
89 |
-229 |
| Purchase of Property, Leasehold Improvements and Equipment |
|
-24 |
-24 |
-29 |
-16 |
-19 |
-29 |
-36 |
-21 |
-25 |
-28 |
-42 |
| Purchase of Investment Securities |
|
-114 |
-377 |
-111 |
-85 |
-95 |
111 |
-332 |
-55 |
-26 |
-247 |
-243 |
| Sale and/or Maturity of Investments |
|
- |
- |
- |
178 |
78 |
- |
- |
0.00 |
28 |
364 |
55 |
| Net Cash From Financing Activities |
|
-78 |
449 |
-79 |
100 |
-72 |
-212 |
-476 |
-79 |
-74 |
-87 |
-73 |
| Net Cash From Continuing Financing Activities |
|
-78 |
449 |
-79 |
100 |
-72 |
-212 |
-476 |
-79 |
-74 |
-87 |
-73 |
| Repayment of Debt |
|
-1.44 |
-16 |
-7.76 |
-201 |
-1.49 |
-122 |
-405 |
-1.54 |
-1.55 |
-467 |
-1.58 |
| Payment of Dividends |
|
-64 |
-64 |
-64 |
-64 |
-64 |
-64 |
-64 |
-64 |
-64 |
-65 |
-65 |
| Other Financing Activities, Net |
|
-13 |
-16 |
-7.24 |
-30 |
-6.28 |
-27 |
-6.84 |
-13 |
-7.60 |
-17 |
-6.98 |
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 |
2025 |
| Total Assets |
|
5,926 |
6,707 |
6,803 |
7,766 |
8,900 |
10,001 |
10,583 |
10,797 |
11,401 |
10,898 |
10,915 |
| Cash and Due from Banks |
|
57 |
193 |
58 |
52 |
60 |
732 |
414 |
347 |
510 |
166 |
179 |
| Trading Account Securities |
|
13 |
15 |
21 |
22 |
27 |
27 |
27 |
24 |
285 |
28 |
31 |
| 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 |
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 |
9,691 |
| Deferred Acquisition Cost |
|
177 |
208 |
184 |
198 |
213 |
211 |
234 |
251 |
230 |
226 |
278 |
| Other Assets |
|
346 |
312 |
378 |
340 |
516 |
536 |
605 |
641 |
640 |
633 |
735 |
| Total Liabilities & Shareholders' Equity |
|
5,926 |
6,707 |
6,803 |
7,766 |
8,900 |
10,001 |
10,583 |
10,797 |
11,401 |
10,898 |
10,915 |
| Total Liabilities |
|
2,692 |
2,947 |
2,843 |
3,564 |
4,329 |
4,723 |
4,894 |
5,122 |
5,741 |
5,289 |
5,277 |
| Non-Interest Bearing Deposits |
|
49 |
52 |
56 |
60 |
67 |
69 |
75 |
81 |
79 |
71 |
76 |
| Long-Term Debt |
|
2,225 |
2,320 |
2,306 |
2,852 |
3,308 |
3,924 |
4,069 |
4,263 |
4,928 |
4,598 |
4,589 |
| Other Long-Term Liabilities |
|
136 |
150 |
439 |
572 |
238 |
226 |
750 |
713 |
298 |
556 |
612 |
| Commitments & Contingencies |
|
0.00 |
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 |
5,638 |
| Total Preferred & Common Equity |
|
3,171 |
3,543 |
3,701 |
3,930 |
4,294 |
5,030 |
5,440 |
5,437 |
5,428 |
5,382 |
5,421 |
| Total Common Equity |
|
2,979 |
3,351 |
3,701 |
3,930 |
4,294 |
5,030 |
5,440 |
5,437 |
5,428 |
5,382 |
5,421 |
| Common Stock |
|
3,049 |
3,459 |
3,823 |
3,978 |
4,352 |
5,133 |
5,156 |
5,172 |
5,207 |
5,211 |
5,232 |
| Retained Earnings |
|
-70 |
-108 |
-123 |
-48 |
-58 |
-103 |
284 |
265 |
221 |
171 |
189 |
| Noncontrolling Interest |
|
64 |
216 |
260 |
271 |
277 |
247 |
250 |
238 |
232 |
227 |
217 |
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 |
Q2 2025 |
Q3 2025 |
| Total Assets |
|
10,620 |
10,969 |
10,911 |
11,471 |
11,599 |
11,544 |
11,381 |
10,879 |
10,868 |
10,992 |
| Cash and Due from Banks |
|
250 |
476 |
362 |
619 |
855 |
836 |
625 |
147 |
193 |
372 |
| Trading Account Securities |
|
22 |
23 |
26 |
279 |
110 |
33 |
27 |
29 |
32 |
34 |
| 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 |
|
9,469 |
9,568 |
9,617 |
9,681 |
9,742 |
9,781 |
9,831 |
9,825 |
9,543 |
9,723 |
| Deferred Acquisition Cost |
|
214 |
238 |
231 |
229 |
227 |
220 |
227 |
220 |
208 |
229 |
| Other Assets |
|
635 |
664 |
665 |
652 |
653 |
674 |
659 |
646 |
892 |
621 |
| Total Liabilities & Shareholders' Equity |
|
10,620 |
10,969 |
10,911 |
11,471 |
11,599 |
11,544 |
11,381 |
10,879 |
10,868 |
10,992 |
| Total Liabilities |
|
4,940 |
5,297 |
5,243 |
5,804 |
5,956 |
5,909 |
5,772 |
5,299 |
5,274 |
5,306 |
| Non-Interest Bearing Deposits |
|
83 |
81 |
78 |
75 |
74 |
73 |
71 |
78 |
74 |
75 |
| Other Short-Term Payables |
|
488 |
- |
64 |
64 |
467 |
- |
420 |
357 |
- |
65 |
| Long-Term Debt |
|
4,068 |
4,413 |
4,413 |
4,935 |
5,120 |
5,121 |
5,001 |
4,598 |
4,598 |
4,590 |
| Other Long-Term Liabilities |
|
301 |
804 |
688 |
730 |
295 |
716 |
280 |
266 |
603 |
577 |
| 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 |
|
5,680 |
5,672 |
5,668 |
5,668 |
5,643 |
5,634 |
5,609 |
5,580 |
5,593 |
5,686 |
| Total Preferred & Common Equity |
|
5,439 |
5,434 |
5,434 |
5,434 |
5,413 |
5,406 |
5,380 |
5,356 |
5,366 |
5,465 |
| Total Common Equity |
|
5,439 |
5,434 |
5,434 |
5,434 |
5,413 |
5,406 |
5,380 |
5,356 |
5,366 |
5,465 |
| Common Stock |
|
5,163 |
5,177 |
5,185 |
5,196 |
5,210 |
5,218 |
5,204 |
5,212 |
5,218 |
5,225 |
| Retained Earnings |
|
276 |
257 |
249 |
238 |
203 |
188 |
176 |
145 |
149 |
241 |
| Noncontrolling Interest |
|
240 |
239 |
234 |
234 |
230 |
229 |
228 |
224 |
227 |
220 |
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 |
2025 |
| DEI Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
118,305,702.00 |
| DEI Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
118,305,702.00 |
| DEI Earnings Per Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
2.56 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| 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 |
$2.33 |
| 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 |
118.28M |
| 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 |
$2.32 |
| 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 |
118.83M |
| 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 |
$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 |
118.50M |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Quarterly Metrics And Ratios for Kilroy Realty
This table displays calculated financial ratios and metrics derived from Kilroy Realty's official financial filings.
| Metric |
|
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Q4 2025 |
| DEI Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
118,305,702.00 |
| DEI Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
118,305,702.00 |
| DEI Earnings Per Adjusted Shares Outstanding |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
0.14 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$0.47 |
$0.45 |
$0.40 |
$0.42 |
$0.41 |
$0.44 |
$0.51 |
$0.33 |
$0.58 |
$1.32 |
$0.10 |
| Adjusted Weighted Average Basic Shares Outstanding |
|
117.15M |
117.18M |
117.16M |
117.34M |
117.38M |
117.83M |
117.65M |
118.19M |
118.29M |
118.30M |
118.28M |
| Adjusted Diluted Earnings per Share |
|
$0.47 |
$0.45 |
$0.40 |
$0.42 |
$0.41 |
$0.44 |
$0.50 |
$0.33 |
$0.57 |
$1.31 |
$0.11 |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
117.36M |
117.50M |
117.51M |
117.96M |
117.66M |
118.24M |
118.16M |
118.66M |
118.68M |
118.82M |
118.83M |
| 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 |
|
117.18M |
117.24M |
117.33M |
117.37M |
117.39M |
118.05M |
118.14M |
118.28M |
118.29M |
118.31M |
118.50M |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Key Financial Trends
Kilroy Realty’s recent results show a mixed picture: operating cash flow has remained solid, but quarterly earnings and balance sheet leverage have been more volatile than investors would likely want to see. The company also continued paying a meaningful dividend, which is supportive for income-focused shareholders, but the payout comes amid uneven cash generation and large investment activity.
- Operating cash flow improved sharply in Q4 2025, rising to $109.1 million from $176.6 million in Q3 2025, and remained comfortably positive across all four quarters shown.
- Full-year trend in quarterly net income is still profitable, with Q4 2025 net income of $17.1 million after $162.3 million in Q3 2025 and $79.6 million in Q2 2025.
- The company continued to generate significant depreciation-backed cash flow, which is common for real estate owners and helps support reported operating cash flow.
- Liquidity improved versus the prior year, with cash and equivalents at $372.4 million at the end of Q3 2025, up from $193.1 million at Q2 2025.
- Management maintained the dividend, with cash dividends to common shareholders of $0.54 per share in each quarter shown for 2023–2025.
- Revenue was uneven quarter to quarter, ranging from $270.8 million in Q1 2025 to $390.2 million in Q3 2025 and $272.2 million in Q4 2025.
- Non-controlling interests remained material, reducing earnings available to common shareholders each quarter.
- Investment activity remained heavy, with large purchases and sales of investment securities causing significant swings in investing cash flow.
- Share count was relatively stable, with diluted shares around 118 million throughout the period, so EPS changes were driven more by earnings than dilution.
- Q4 2025 cash flow from investing activities was sharply negative at $229.1 million, reflecting substantial investment purchases.
- Q4 2025 net change in cash was negative at $193.1 million, after being positive in Q3 2025.
- Debt remains elevated, with long-term debt around $4.6 billion to $5.0 billion over the periods shown.
- Retained earnings are modest relative to the asset base, which suggests the dividend and capital structure continue to matter a lot for equity returns.
- Nonoperating expense pressures are persistent, with Q4 2025 nonoperating income/expense of negative $46.2 million and similarly negative results in prior quarters.
Bottom line: Kilroy Realty appears to be generating enough operating cash to stay profitable and support its dividend, but the business is still carrying a heavy debt load and relies on large investment and financing flows. For investors, the key question is whether management can turn the recent rebound in earnings and operating cash into more consistent, sustainable performance.
06/04/26 01:32 AM ETAI Generated. May Contain Errors.