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REITs · Real Estate · Fiscal year ends Dec 31
Kite Realty Group Trust reported revenue of $844M in the fiscal year ended Dec 2025, up 0.8% from the year before. Operating income was $143M, an operating margin of 17.0%, and net income was $299M. Operating cash flow of $430M less capital expenditure of $152M left free cash flow of $278M. Net debt was $3B.
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 | 373 | 802 | 821 | 837 | 844 |
| Operating incomederived: revenue − total costs | −21.5 | 91.7 | 152 | 111 | 143 |
| Interest expense | 60.4 | 104 | 105 | 126 | 133 |
| Income tax | −0.3 | 0.0 | 0.5 | 0.1 | 0.5 |
| Net income | −80.8 | −12.6 | 47.5 | 4.1 | 299 |
| Diluted EPS | −0.73 | −0.06 | 0.22 | 0.02 | 1.37 |
| Diluted shares | 111 | 219 | 220 | 220 | 218 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 93.2 | 116 | 36.4 | 128 | 36.8 |
| Total assets | 7,640 | 7,342 | 6,944 | 7,092 | 6,664 |
| Deferred revenue | 10.8 | 12.1 | – | – | – |
| Long-term debt | 3,151 | 3,010 | 2,829 | 3,227 | 3,025 |
| Total liabilities | 3,657 | 3,516 | 3,300 | 3,680 | 3,473 |
| Shareholders' equity | 3,922 | 3,767 | 3,568 | 3,312 | 3,074 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 100 | 379 | 395 | 419 | 430 |
| Capital expenditure | 57.3 | 159 | 145 | 140 | 152 |
| Free cash flow | 43.0 | 221 | 250 | 279 | 278 |
| Depreciation & amortisation | 203 | 473 | 430 | 398 | 380 |
| Stock-based compensation | 6.7 | 10.3 | 10.1 | 10.7 | 10.8 |
| Share buybacks | 15.0 | 1.5 | 0.8 | 0.9 | 1.3 |
| Dividends paid | 57.8 | 180 | 211 | 222 | 236 |
| Dividend per share | 0.72 | 0.87 | 0.97 | 1.03 | 1.25 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 114.8% | 2.4% | 2.0% | 0.8% |
| Operating income growth (YoY) | – | – | 66.1% | −26.8% | 28.5% |
| EPS growth (YoY) | – | – | – | −90.9% | 6750.0% |
| Operating margin | −5.8% | 11.4% | 18.5% | 13.3% | 17.0% |
| Net margin | −21.6% | −1.6% | 5.8% | 0.5% | 35.4% |
| Return on equityBlank when equity is negative | −2.1% | −0.3% | 1.3% | 0.1% | 9.7% |
| Free cash flow margin | 11.5% | 27.5% | 30.4% | 33.3% | 32.9% |
| Cash conversion (CFO ÷ net income) | −1.24x | −30.0x | 8.31x | 103x | 1.44x |
| Interest cover | −0.36x | 0.88x | 1.45x | 0.89x | 1.08x |
| Debt ÷ equity | 0.80x | 0.80x | 0.79x | 0.97x | 0.98x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 3,058 | 2,895 | 2,793 | 3,099 | 2,989 |
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.