Financials Kilroy Realty Corporation

Equities

KRC

US49427F1084

Commercial REITs

Market Closed - Nyse Other stock markets 04:00:02 2025-12-12 pm EST			5-day change	1st Jan Change
40.46 ^USD	-0.27%		-0.78%	+0.02%

Dec. 04	KeyBanc Downgrades Kilroy Realty to Sector Weight From Overweight	MT
Nov. 18	Kilroy Realty declares quarterly dividend	RE

Projected Income Statement: Kilroy Realty Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	898.4	955	1,097	1,130	1,136	1,100	1,088	1,114
Change	-	6.3%	14.86%	2.98%	0.53%	-3.13%	-1.13%	2.46%
EBITDA ¹	538.4	592.7	682.3	685.2	690.7	668.5	633.5	668.4
Change	-	10.08%	15.11%	0.43%	0.8%	-3.21%	-5.25%	5.51%
EBIT ¹	239.1	282.7	324.7	329.9	334.5	316.8	270.1	281
Change	-	18.22%	14.86%	1.61%	1.39%	-5.3%	-14.74%	4.04%
Interest Paid ¹	-70.77	-78.56	-84.28	-114.2	-145.3	-125.1	-175.8	-195.7
Earnings before Tax (EBT) ¹	207.3	658.9	259.5	238.3	233	192.9	75.25	47.75
Change	-	217.86%	-60.62%	-8.17%	-2.24%	-17.17%	-61%	-36.55%
Net income ¹	187.1	628.1	232.6	212.2	211	247.3	78.29	47.92
Change	-	235.72%	-62.97%	-8.76%	-0.6%	17.24%	-68.35%	-38.79%
Announcement Date	2/1/21	1/31/22	2/1/23	2/5/24	2/10/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	229.3	235.6	226	232.3	261.1	265.5	271.2	276	284.3	292.8	284.3	283.6	269	278.6	280.7	289.9	286.4	270.8	289.9	279.7	270.7	271.6	270.8	272.8	276.1	276.5	281	287.8
Change	-	2.75%	-4.1%	2.81%	12.38%	1.69%	2.14%	1.76%	3.04%	2.97%	-2.91%	-0.24%	-5.14%	3.56%	0.77%	3.28%	-1.23%	-5.42%	7.03%	-3.5%	-3.24%	0.32%	-0.28%	0.73%	1.2%	0.17%	1.64%	2.39%
EBITDA ¹	140	147	136	141.8	167.9	168.6	170.4	170.2	173.2	183.1	174.6	166.8	160.7	182.6	178.5	176.3	176.6	162.1	181.5	168.2	160.3	159.6	157.6	157.3	157.6	162.5	165.5	170.7
Change	-	4.98%	-7.51%	4.31%	18.36%	0.42%	1.07%	-0.13%	1.76%	5.75%	-4.65%	-4.48%	-3.65%	13.64%	-2.27%	-1.23%	0.2%	-8.22%	11.95%	-7.3%	-4.71%	-0.41%	-1.26%	-0.23%	0.19%	3.14%	1.84%	3.14%
EBIT ¹	67.05	71.08	62.39	68.62	80.57	79.93	73.97	89.02	81.76	89.44	84.24	81.56	74.68	81.38	81.23	84.39	87.51	73.85	93.16	80.74	71.55	70.74	69.51	67.74	65.76	38.78	72.52	77.28
Change	-	6.02%	-12.23%	9.99%	17.41%	-0.8%	-7.45%	20.34%	-8.15%	9.39%	-5.82%	-3.18%	-8.44%	8.98%	-0.19%	3.9%	3.69%	-15.61%	26.14%	-13.33%	-11.38%	-1.13%	-1.74%	-2.55%	-2.93%	-41.02%	87%	6.56%
Charge d'intérêts ¹	-20.98	-22.33	-21.39	-16.1	-18.73	-20.62	-20.12	-19.98	-23.55	-25.67	-26.38	-29.84	-32.32	-38.87	-36.76	-36.41	-33.24	-31.15	-30.84	-32.15	-31.98	-38.75	-41.6	-47.88	-48.88	-46.08	-45.66	-45.52
Earnings before Tax (EBT) ¹	-	-	-	-	-	-	53.98	-	-	-	-	-	-	65.23	54.55	57.67	65.03	43.68	79.57	162.3	37.12	13.87	5.39	2.308	10.34	11.95	12.99	17.15
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-16.38%	5.73%	12.76%	-32.83%	82.16%	103.95%	-77.13%	-62.63%	-61.15%	-57.18%	348.26%	15.5%	8.68%	32.08%
Net income ¹	78.64	497.6	35.84	47.03	47.65	53.13	47.1	79.76	52.62	56.61	55.59	52.76	47.28	49.92	49.21	52.38	59.46	39.01	68.45	156.2	34.01	26.59	23	15.7	11.79	11.65	15.32	19.87
Change	-	532.78%	-92.8%	31.22%	1.31%	11.51%	-11.34%	69.32%	-34.02%	7.57%	-1.8%	-5.08%	-10.38%	5.57%	-1.42%	6.44%	13.52%	-34.4%	75.47%	128.23%	-78.23%	-21.8%	-13.5%	-31.76%	-24.88%	-1.2%	31.49%	29.69%
Announcement Date	2/1/21	4/28/21	7/28/21	10/27/21	1/31/22	4/27/22	7/27/22	10/25/22	2/1/23	4/26/23	7/31/23	10/25/23	2/5/24	5/2/24	7/31/24	10/28/24	2/10/25	5/5/25	7/28/25	10/27/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Kilroy Realty Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	2,925	3,655	3,916	4,418	4,432	4,299	4,342	4,295
Change	-	24.96%	7.14%	12.82%	0.32%	-3%	1%	-1.08%
Announcement Date	2/1/21	1/31/22	2/1/23	2/5/24	2/10/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Kilroy Realty Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	616.1	673.4	132.8	543.8	465.8	236.7	193.1	193.8
Change	-	9.31%	-80.28%	309.39%	-14.34%	-49.19%	-18.41%	0.36%
Free Cash Flow (FCF) ¹	-	-157	459.4	-	-	-	-	-
Change	-	-	392.53%	-	-	-	-	-
Announcement Date	2/1/21	1/31/22	2/1/23	2/5/24	2/10/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Kilroy Realty Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	59.93%	62.06%	62.2%	60.65%	60.82%	60.77%	58.24%	59.98%
EBIT Margin (%)	26.61%	29.6%	29.6%	29.2%	29.46%	28.79%	24.83%	25.22%
EBT Margin (%)	23.07%	68.99%	23.66%	21.09%	20.51%	17.54%	6.92%	4.28%
Net margin (%)	20.83%	65.77%	21.2%	18.79%	18.58%	22.48%	7.2%	4.3%
FCF margin (%)	-	-16.44%	41.88%	-	-	-	-	-
FCF / Net Income (%)	-	-25%	197.49%	-	-	-	-	-
Profitability
ROA	1.98%	6.1%	2.18%	1.91%	1.89%	2.11%	0.42%	0.52%
ROE	4.01%	12%	4.28%	3.91%	3.9%	5.01%	0.98%	1.11%
Financial Health
Leverage (Debt/EBITDA)	5.43x	6.17x	5.74x	6.45x	6.42x	6.43x	6.85x	6.43x
Debt / Free cash flow	-	-23.27x	8.52x	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	68.57%	70.52%	12.11%	48.14%	41.02%	21.51%	17.75%	17.39%
CAPEX / EBITDA (%)	114.42%	113.62%	19.47%	79.37%	67.44%	35.4%	30.48%	28.99%
CAPEX / FCF (%)	-	-428.82%	28.91%	-	-	-	-	-
Items per share
Cash flow per share ¹	4.006	4.416	5.05	5.054	4.58	3.899	1.879	1.879
Change	-	10.22%	14.37%	0.07%	-9.37%	-14.87%	-51.81%	0%
Dividend per Share ¹	1.97	2.04	2.12	2.16	2.16	2.164	2.182	2.198
Change	-	3.55%	3.92%	1.89%	0%	0.17%	0.84%	0.72%
Book Value Per Share ¹	42.6	46.72	46.57	45.52	44.76	45.22	41.63	38.92
Change	-	9.68%	-0.33%	-2.25%	-1.67%	1.02%	-7.95%	-6.49%
EPS ¹	1.63	5.36	1.97	1.8	1.77	2.228	0.6725	0.5375
Change	-	228.83%	-63.25%	-8.63%	-1.67%	25.85%	-69.81%	-20.08%
Nbr of stocks (in thousands)	115,251	116,462	116,877	117,240	118,047	118,306	118,306	118,306
Announcement Date	2/1/21	1/31/22	2/1/23	2/5/24	2/10/25	-	-	-