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REITs · Real Estate · Fiscal year ends Dec 31
Kilroy Realty reported revenue of $19M in the fiscal year ended Dec 2025, up 8.9% from the year before. Net income was $303M. Operating cash flow of $566M less capital expenditure of $116M left free cash flow of $450M.
Ranks among the 75 reits companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 6.0 | 11.0 | 12.0 | 17.5 | 19.1 |
| Interest expense | 78.6 | 84.3 | 114 | 145 | 126 |
| Income tax | 0.0 | 0.0 | 0.0 | 0.0 | – |
| Net income | 659 | 259 | 238 | 233 | 303 |
| Diluted EPS | 5.36 | 1.97 | 1.80 | 1.77 | 2.32 |
| Diluted shares | 117 | 117 | 118 | 118 | 119 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 414 | 347 | 510 | 166 | 179 |
| Receivables | 14.4 | 20.6 | 13.6 | 11.0 | 12.8 |
| Total assets | 10,583 | 10,797 | 11,401 | 10,898 | 10,915 |
| Deferred revenue | 108 | 111 | 97.8 | 81.7 | 70.8 |
| Total liabilities | 4,894 | 5,122 | 5,741 | 5,289 | 5,277 |
| Shareholders' equity | 5,440 | 5,437 | 5,428 | 5,382 | 5,421 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 516 | 592 | 603 | 541 | 566 |
| Capital expenditure | 121 | 92.8 | 97.4 | 100 | 116 |
| Free cash flow | 396 | 499 | 505 | 441 | 450 |
| Depreciation & amortisation | 304 | 351 | 348 | 350 | 349 |
| Stock-based compensation | 33.8 | 28.3 | 36.9 | 17.7 | 19.1 |
| Dividends paid | 237 | 248 | 255 | 256 | 258 |
| Dividend per share | 2.04 | 2.12 | 2.16 | 2.16 | 2.16 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 81.4% | 9.0% | 46.5% | 8.9% |
| EPS growth (YoY) | – | −63.2% | −8.6% | −1.7% | 31.1% |
| Net margin | 10898.3% | 2365.7% | 1992.9% | 1330.1% | 1586.2% |
| Return on equityBlank when equity is negative | 12.1% | 4.8% | 4.4% | 4.3% | 5.6% |
| Free cash flow margin | 6546.3% | 4553.1% | 4225.1% | 2517.1% | 2360.0% |
| Cash conversion (CFO ÷ net income) | 0.78x | 2.28x | 2.53x | 2.32x | 1.87x |
| Receivable days | 868 | 685 | 415 | 230 | 244 |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.