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Kilroy Realty (KRC) Financials

Kilroy Realty logo
$39.03 +0.21 (+0.55%)
Closing price 08/3/2026 03:59 PM Eastern
Extended Trading
$39.02 -0.01 (-0.02%)
As of 08/3/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 221 281 151 258 195 187 628 233 212 211 276
Consolidated Net Income / (Loss)		 239 304 181 278 215 207 659 259 238 233 303
Net Income / (Loss) Continuing Operations		 239 418 311 278 208 207 659 259 238 233 303
Total Pre-Tax Income 		112 254 271 123 215 172 196 242 238 233 303
Total Revenue		 581 643 653 698 874 828 864 1,097 1,130 1,136 1,240
Net Interest Income / (Expense)		 0.00 0.00 -66 -50 0.00 -71 -79 0.00 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 0.00
Total Interest Expense		 0.00 0.00 66 50 0.00 71 79 0.00 0.00 0.00 0.00
Total Non-Interest Income		 581 643 719 747 874 898 943 1,097 1,130 1,136 1,240
Other Service Charges		 2.15 - - 9.69 11 6.09 6.05 11 12 18 19
Net Realized & Unrealized Capital Gains on Investments		 - - - - 37 0.00 -12 - 0.00 0.00 127
Other Non-Interest Income		 579 643 719 738 826 892 949 1,086 1,118 1,118 1,094
Total Non-Interest Expense		 412 335 383 561 615 659 672 772 801 800 802
Other Operating Expenses		 204 112 130 301 342 360 362 415 445 444 447
Depreciation Expense		 204 217 246 254 273 299 310 358 355 356 355
Nonoperating Income / (Expense), net		 -57 -54 0.19 -13 -44 3.42 3.92 -83 -91 -103 -135
Net Income / (Loss) Attributable to Noncontrolling Interest		 4.52 10 16 20 20 20 31 27 26 22 27
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
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
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
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
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 118.50M
Cash Dividends to Common per Share		 $1.40 $3.38 $1.65 $1.79 $1.91 $1.97 $2.04 - $2.16 $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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 47 50 49 52 59 39 68 156 12 -19 20
Consolidated Net Income / (Loss)		 53 56 55 58 65 44 80 162 17 -15 25
Net Income / (Loss) Continuing Operations		 53 56 55 58 65 44 80 162 17 -15 25
Total Pre-Tax Income 		53 56 55 58 65 44 63 162 17 -15 25
Total Revenue		 295 279 281 290 325 271 290 390 272 294 272
Net Interest Income / (Expense)		 26 0.00 0.00 0.00 39 0.00 0.00 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
Total Interest Expense		 -26 0.00 0.00 0.00 -39 0.00 0.00 0.00 - 0.00 0.00
Total Non-Interest Income		 269 279 281 290 286 271 290 390 272 294 272
Other Service Charges		 3.37 3.69 4.81 3.99 5.02 4.60 4.82 4.84 4.82 4.72 4.05
Other Non-Interest Income		 266 275 276 286 281 266 285 275 267 265 268
Total Non-Interest Expense		 194 197 199 205 199 197 197 199 209 271 207
Other Operating Expenses		 108 109 112 114 110 110 109 112 116 115 113
Depreciation Expense		 86 88 87 92 89 87 88 87 93 94 94
Impairment Charge		 - - - - - - 0.00 - - 62 0.00
Nonoperating Income / (Expense), net		 -47 -26 -27 -27 -61 -30 -30 -29 -46 -37 -41
Other Gains / (Losses), net		 - - 0.00 0.00 - - 17 - - - 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 5.76 5.78 5.34 5.30 5.57 4.67 11 6.06 4.67 4.59 4.81
Basic Earnings per Share		 $0.40 $0.42 $0.41 $0.44 $0.51 $0.33 $0.58 $1.32 $0.10 ($0.16) $0.17
Weighted Average Basic Shares Outstanding		 117.16M 117.34M 117.38M 117.83M 117.65M 118.19M 118.29M 118.30M 118.28M 117.64M 116.29M
Diluted Earnings per Share		 $0.40 $0.42 $0.41 $0.44 $0.50 $0.33 $0.57 $1.31 $0.11 ($0.16) $0.17
Weighted Average Diluted Shares Outstanding		 117.51M 117.96M 117.66M 118.24M 118.16M 118.66M 118.68M 118.82M 118.83M 117.64M 117.06M
Weighted Average Basic & Diluted Shares Outstanding		 117.33M 117.37M 117.39M 118.05M 118.14M 118.28M 118.29M 118.31M 118.50M 116.28M 116.31M

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
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 12/31/2025
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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -109 345 -19 -210 -460 -19 46 179 -193 14 61
Net Cash From Operating Activities		 110 168 89 176 108 137 144 177 109 151 78
Net Cash From Continuing Operating Activities		 110 168 89 176 108 137 144 177 109 151 78
Net Income / (Loss) Continuing Operations		 53 56 55 58 65 44 80 162 17 -15 25
Consolidated Net Income / (Loss)		 53 56 55 58 65 44 80 162 17 -15 25
Depreciation Expense		 86 88 87 92 89 87 88 87 93 94 94
Amortization Expense		 -3.97 -3.85 -3.42 -2.90 -2.99 -3.04 -3.16 -2.91 -2.73 -1.92 -1.04
Non-Cash Adjustments to Reconcile Net Income		 5.77 5.14 4.68 6.45 2.51 9.16 -9.24 -104 25 43 4.76
Changes in Operating Assets and Liabilities, net		 -38 23 -54 22 -43 0.00 -11 33 -23 30 -44
Net Cash From Investing Activities		 -140 77 -36 -174 -91 -77 -24 89 -229 15 119
Net Cash From Continuing Investing Activities		 -140 77 -36 -174 -91 -77 -24 89 -229 15 119
Purchase of Property, Leasehold Improvements and Equipment		 -29 -16 -19 -29 -36 -21 -25 -28 -42 -30 -38
Purchase of Investment Securities		 -111 -85 -95 111 -332 -55 -26 -247 -243 -103 -25
Sale and/or Maturity of Investments		 - 178 78 - - 0.00 28 364 55 141 189
Net Cash From Financing Activities		 -79 100 -72 -212 -476 -79 -74 -87 -73 -152 -136
Net Cash From Continuing Financing Activities		 -79 100 -72 -212 -476 -79 -74 -87 -73 -152 -136
Repayment of Debt		 -7.76 -201 -1.49 -122 -405 -1.54 -1.55 -467 -1.58 -1.60 -92
Payment of Dividends		 -64 -64 -64 -64 -64 -64 -64 -65 -65 -65 -63
Other Financing Activities, Net		 -7.24 -30 -6.28 -27 -6.84 -13 -7.60 -17 -6.98 -13 -21

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
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 12/31/2025
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		 346 312 378 340 516 536 605 641 640 633 723
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
Other Short-Term Payables		 281 425 - - 472 505 - 64 436 65 65
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		 136 150 439 572 238 226 750 713 298 556 547
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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 10,969 10,911 11,471 11,599 11,544 11,381 10,879 10,868 10,992 10,775 10,632
Cash and Due from Banks		 476 362 619 855 836 625 147 193 372 193 254
Trading Account Securities		 23 26 279 110 33 27 29 32 34 31 35
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		 9,568 9,617 9,681 9,742 9,781 9,831 9,825 9,543 9,723 9,469 9,448
Deferred Acquisition Cost		 238 231 229 227 220 227 220 208 229 271 264
Other Assets		 664 665 652 653 674 659 646 892 621 794 619
Total Liabilities & Shareholders' Equity		 10,969 10,911 11,471 11,599 11,544 11,381 10,879 10,868 10,992 10,775 10,632
Total Liabilities		 5,297 5,243 5,804 5,956 5,909 5,772 5,299 5,274 5,306 5,286 5,184
Non-Interest Bearing Deposits		 81 78 75 74 73 71 78 74 75 80 78
Other Short-Term Payables		 - 64 64 467 - 420 357 - 65 63 63
Long-Term Debt		 4,413 4,413 4,935 5,120 5,121 5,001 4,598 4,598 4,590 4,589 4,537
Other Long-Term Liabilities		 804 688 730 295 716 280 266 603 577 553 506
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		 5,672 5,668 5,668 5,643 5,634 5,609 5,580 5,593 5,686 5,489 5,448
Total Preferred & Common Equity		 5,434 5,434 5,434 5,413 5,406 5,380 5,356 5,366 5,465 5,265 5,226
Total Common Equity		 5,434 5,434 5,434 5,413 5,406 5,380 5,356 5,366 5,465 5,265 5,226
Common Stock		 5,177 5,185 5,196 5,210 5,218 5,204 5,212 5,218 5,225 5,162 5,167
Retained Earnings		 257 249 238 203 188 176 145 149 241 103 59
Noncontrolling Interest		 239 234 234 230 229 228 224 227 220 224 222

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
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 12/31/2025
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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 118,305,702.00 118,503,054.00 118,503,054.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 118,305,702.00 118,503,054.00 118,503,054.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.14 -0.12 0.21
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -14.60% -10.27% -1.25% 2.24% 10.37% -2.78% 9.16% 34.59% - 0.00% -6.04%
EBITDA Growth		 -19.96% -16.11% -2.73% 6.63% 16.51% -4.77% 17.62% 59.01% - -27.23% -12.68%
EBIT Growth		 -29.58% -33.34% -3.57% 3.47% 25.95% -9.57% 34.86% 126.36% - -69.54% -29.85%
NOPAT Growth		 -29.58% -33.34% -3.57% 3.47% 25.95% -9.57% 34.86% 126.36% - -78.68% -29.85%
Net Income Growth		 -10.81% -14.61% -10.98% -1.81% 22.60% -21.58% 45.87% 181.38% - 0.00% -68.94%
EPS Growth		 -9.09% -12.50% -12.77% -2.22% 25.00% -21.43% 39.02% 197.73% - 0.00% -70.18%
Operating Cash Flow Growth		 2.05% -7.83% -12.54% -15.55% -1.80% -18.44% 62.07% 0.12% - 0.00% 0.00%
Free Cash Flow Firm Growth		 -1,391.99% -121.43% -115.15% 109.96% 192.37% 210.51% 213.57% 581.54% - -82.51% -58.68%
Invested Capital Growth		 6.54% 6.72% 6.69% 0.07% -3.60% -5.44% -5.24% -3.15% - -0.98% -2.02%
Revenue Q/Q Growth		 3.91% 13.98% 17.11% 3.28% 12.18% -16.73% 13.14% 27.34% - 7.86% -7.22%
EBITDA Q/Q Growth		 12.18% 29.26% 30.21% 5.10% 22.58% -25.68% 22.95% 42.04% - -24.97% 37.37%
EBIT Q/Q Growth		 23.03% 166.24% 91.08% 3.90% 49.75% -41.56% 48.55% 74.30% - -64.44% 190.51%
NOPAT Q/Q Growth		 23.03% 166.24% 91.08% 3.90% 49.75% -41.56% 48.55% 74.30% - -75.11% 315.01%
Net Income Q/Q Growth		 -9.69% 5.00% -2.07% 5.73% 12.76% -32.83% 82.16% 103.95% - -185.76% 268.44%
EPS Q/Q Growth		 -11.11% 5.00% -2.38% 7.32% 13.64% -34.00% 72.73% 129.82% - -245.45% 206.25%
Operating Cash Flow Q/Q Growth		 -47.22% 52.30% -47.17% 98.83% -38.62% 26.50% 4.98% 22.83% - 38.15% -48.10%
Free Cash Flow Firm Q/Q Growth		 28.89% -0.21% 6.69% 112.99% 559.26% 29.78% 2.17% -21.95% - 169.96% 135.46%
Invested Capital Q/Q Growth		 -0.13% 1.65% -0.08% -1.35% -3.80% -0.28% 0.13% 0.83% - -1.46% -0.92%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 61.89% 52.85% 58.76% 59.80% 65.34% 58.31% 63.36% 70.68% - 39.15% 57.96%
EBIT Margin		 34.05% 17.73% 28.93% 29.11% 38.86% 27.27% 35.80% 49.00% - 7.66% 23.99%
Profit (Net Income) Margin		 18.00% 23.24% 19.43% 19.89% 20.00% 16.13% 25.96% 41.59% - -5.00% 9.07%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00%
Interest Burden Percent		 52.86% 131.03% 67.15% 68.34% 51.46% 59.15% 72.53% 84.86% - -65.23% 37.82%
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)		 3.75% 1.68% 2.73% 2.72% 4.24% 2.94% 3.94% 5.88% - 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.72% 1.96% 2.17% 2.18% 2.96% 2.32% 3.32% 5.28% - 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 2.20% 1.65% 1.83% 1.92% 2.50% 2.01% 2.88% 4.48% - 0.00% 0.00%
Return on Equity (ROE)		 5.95% 3.33% 4.57% 4.64% 6.74% 4.94% 6.82% 10.37% - 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 -3.12% -4.64% -4.63% 1.76% 6.89% 8.71% 8.77% 7.62% - 0.98% 2.04%
Operating Return on Assets (OROA)		 3.47% 1.55% 2.54% 2.52% 3.96% 2.74% 3.69% 5.49% - 0.00% 0.00%
Return on Assets (ROA)		 1.83% 2.03% 1.70% 1.73% 2.04% 1.62% 2.67% 4.66% - 0.00% 0.00%
Return on Common Equity (ROCE)		 5.71% 3.19% 4.38% 4.45% 6.47% 4.74% 6.54% 9.96% - 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 4.23% 4.11% 4.11% 0.00% 4.12% 4.58% 6.41% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 100 43 81 84 126 74 110 191 - 16 65
NOPAT Margin		 34.05% 17.73% 28.93% 29.11% 38.86% 27.27% 35.80% 49.00% - 5.36% 23.99%
Net Nonoperating Expense Percent (NNEP)		 1.03% -0.28% 0.56% 0.54% 1.29% 0.62% 0.62% 0.60% - 0.66% 0.89%
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%
Operating Expenses to Revenue		 65.95% 82.27% 71.07% 70.89% 61.14% 72.73% 64.20% 51.00% - 92.34% 76.01%
Earnings before Interest and Taxes (EBIT)		 100 43 81 84 126 74 110 191 - 22 65
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 182 127 165 173 213 158 194 276 - 115 158
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.81 0.78 0.68 0.84 0.89 0.72 0.76 0.91 - 0.63 0.85
Price to Tangible Book Value (P/TBV)		 0.81 0.78 0.68 0.84 0.89 0.72 0.76 0.91 - 0.63 0.85
Price to Revenue (P/Rev)		 3.89 4.25 3.72 4.58 4.20 3.43 3.52 3.99 - 0.00 0.00
Price to Earnings (P/E)		 20.73 20.42 18.37 22.85 22.63 19.35 18.51 15.47 - 0.00 0.00
Dividend Yield		 5.76% 6.03% 6.93% 5.58% 5.34% 6.59% 6.30% 5.11% - 7.77% 5.76%
Earnings Yield		 4.82% 4.90% 5.44% 4.38% 4.42% 5.17% 5.40% 6.47% - 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.85 0.81 0.76 0.86 0.92 0.84 0.85 0.92 - 0.79 0.90
Enterprise Value to Revenue (EV/Rev)		 8.01 8.80 8.30 9.23 8.31 7.58 7.53 7.53 - 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 13.60 16.49 15.64 17.15 13.92 12.76 12.44 11.78 - 0.00 24.89
Enterprise Value to EBIT (EV/EBIT)		 27.43 44.71 42.69 47.09 28.20 26.16 24.47 20.43 - 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 27.43 44.71 42.69 47.09 28.20 26.16 24.47 20.43 - 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 15.02 14.77 14.20 16.84 17.43 16.75 15.37 16.69 - 0.00 17.39
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 48.94 13.18 9.37 9.46 11.85 - 79.54 43.41
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.87 0.91 0.91 0.89 0.82 0.82 0.82 0.81 - 0.84 0.83
Long-Term Debt to Equity		 0.87 0.91 0.91 0.89 0.82 0.82 0.82 0.81 - 0.84 0.83
Financial Leverage		 0.81 0.84 0.84 0.88 0.85 0.87 0.87 0.85 - 0.83 0.83
Leverage Ratio		 1.96 1.99 1.99 2.03 1.98 2.00 2.00 1.98 - 1.96 1.95
Compound Leverage Factor		 1.04 2.61 1.33 1.38 1.02 1.18 1.45 1.68 - -1.28 0.74
Debt to Total Capital		 46.55% 47.57% 47.61% 47.14% 45.05% 45.18% 45.11% 44.67% - 45.54% 45.44%
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%
Long-Term Debt to Total Capital		 46.55% 47.57% 47.61% 47.14% 45.05% 45.18% 45.11% 44.67% - 45.54% 45.44%
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%
Noncontrolling Interests to Total Capital		 2.19% 2.13% 2.13% 2.15% 2.22% 2.20% 2.23% 2.15% - 2.22% 2.22%
Common Equity to Total Capital		 51.27% 50.29% 50.26% 50.71% 52.73% 52.63% 52.66% 53.19% - 52.24% 52.34%
Debt to EBITDA		 7.40 9.72 9.80 9.38 6.79 6.87 6.58 5.73 - 0.00 12.62
Net Debt to EBITDA		 6.64 8.09 8.20 8.21 6.54 6.65 6.30 5.26 - 0.00 11.92
Long-Term Debt to EBITDA		 7.40 9.72 9.80 9.38 6.79 6.87 6.58 5.73 - 0.00 12.62
Debt to NOPAT		 14.94 26.33 26.75 25.74 13.74 14.07 12.95 9.94 - 0.00 0.00
Net Debt to NOPAT		 13.39 21.94 22.38 22.53 13.25 13.62 12.41 9.13 - 0.00 0.00
Long-Term Debt to NOPAT		 14.94 26.33 26.75 25.74 13.74 14.07 12.95 9.94 - 0.00 0.00
Noncontrolling Interest Sharing Ratio		 4.14% 4.14% 4.09% 4.10% 4.07% 4.04% 4.06% 3.97% - 4.04% 4.06%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -550 -636 -593 77 508 659 673 526 - 115 271
Operating Cash Flow to CapEx		 386.21% 1,050.43% 461.61% 604.23% 301.31% 642.43% 567.99% 633.18% - 503.24% 203.42%
Free Cash Flow to Firm to Interest Expense		 0.00 -16.35 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 4.32 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 3.91 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.10 0.09 0.09 0.09 0.10 0.10 0.10 0.11 - 0.00 0.00
Fixed Asset Turnover		 0.12 0.10 0.10 0.10 0.12 0.12 0.12 0.13 - 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 10,588 10,763 10,755 10,610 10,207 10,178 10,191 10,275 - 10,078 9,985
Invested Capital Turnover		 0.11 0.09 0.09 0.09 0.11 0.11 0.11 0.12 - 0.00 0.00
Increase / (Decrease) in Invested Capital		 650 678 674 7.37 -381 -585 -564 -334 - -100 -206
Enterprise Value (EV)		 9,049 8,692 8,172 9,147 9,434 8,545 8,690 9,436 - 7,916 8,945
Market Capitalization		 4,399 4,197 3,658 4,543 4,775 3,870 4,058 4,998 - 3,296 4,440
Book Value per Share		 $46.30 $46.13 $46.06 $45.83 $45.59 $45.34 $45.37 $46.20 - $44.43 $44.94
Tangible Book Value per Share		 $46.30 $46.13 $46.06 $45.83 $45.59 $45.34 $45.37 $46.20 - $44.43 $44.94
Total Capital		 10,588 10,763 10,755 10,610 10,207 10,178 10,191 10,275 - 10,078 9,985
Total Debt		 4,928 5,120 5,121 5,001 4,598 4,598 4,598 4,590 - 4,589 4,537
Total Long-Term Debt		 4,928 5,120 5,121 5,001 4,598 4,598 4,598 4,590 - 4,589 4,537
Net Debt		 4,418 4,265 4,285 4,376 4,432 4,451 4,405 4,217 - 4,396 4,283
Capital Expenditures (CapEx)		 29 16 19 29 36 21 25 28 - 30 38
Net Nonoperating Expense (NNE)		 47 -13 27 27 61 30 30 29 - 30 41
Net Nonoperating Obligations (NNO)		 4,928 5,120 5,121 5,001 4,598 4,598 4,598 4,590 - 4,589 4,537
Total Depreciation and Amortization (D&A)		 82 84 84 89 86 84 84 85 - 92 93
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.40 $0.42 $0.41 $0.44 $0.51 $0.33 $0.58 $1.32 $0.10 ($0.16) $0.17
Adjusted Weighted Average Basic Shares Outstanding		 117.16M 117.34M 117.38M 117.83M 117.65M 118.19M 118.29M 118.30M 118.28M 117.64M 116.29M
Adjusted Diluted Earnings per Share		 $0.40 $0.42 $0.41 $0.44 $0.50 $0.33 $0.57 $1.31 $0.11 ($0.16) $0.17
Adjusted Weighted Average Diluted Shares Outstanding		 117.51M 117.96M 117.66M 118.24M 118.16M 118.66M 118.68M 118.82M 118.83M 117.64M 117.06M
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		 117.33M 117.37M 117.39M 118.05M 118.14M 118.28M 118.29M 118.31M 118.50M 116.28M 116.31M
Normalized Net Operating Profit after Tax (NOPAT)		 70 30 57 59 88 52 77 134 - 59 46
Normalized NOPAT Margin		 23.84% 12.41% 20.25% 20.38% 27.20% 19.09% 25.06% 34.30% - 20.09% 16.80%
Pre Tax Income Margin		 18.00% 23.24% 19.43% 19.89% 20.00% 16.13% 25.96% 41.59% - -5.00% 9.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 1.09 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
NOPAT to Interest Expense		 0.00 1.09 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.68 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.68 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 107.19% 111.75% 115.19% 115.80% 110.02% 116.21% 104.58% 73.52% - 0.00% 0.00%
Augmented Payout Ratio		 107.19% 111.75% 115.19% 115.80% 110.02% 116.21% 104.58% 73.52% - 0.00% 0.00%

Financials Breakdown Chart

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.

08/04/26 04:24 AM ETAI Generated. May Contain Errors.

Kilroy Realty Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Kilroy Realty's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Recent net income reported by Kilroy Realty includes:
  • 2021: $658.91 million
  • 2022: $259.49 million
  • 2023: $238.29 million
  • 2024: $232.95 million
  • 2025: $302.64 million
Check out Kilroy Realty's forecast to explore projected trends and price targets.

Over the last 10 years, Kilroy Realty's total revenue changed from $581.28 million in 2015 to $1.24 billion in 2025, a change of 113.3%.

Kilroy Realty's total liabilities were at $5.28 billion at the end of 2025, a 0.2% decrease from 2024, and a 96.0% increase since 2015.

In the past 10 years, Kilroy Realty's cash and equivalents has ranged from $51.60 million in 2018 to $731.99 million in 2020, and is currently $179.32 million as of their latest financial filing in 2025.


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Financial statements for NYSE:KRC last updated on 7/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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