Kbs Real Estate Investment Trust III, Inc. (KBSR) intrinsic value & 10-year financials
Kbs Real Estate Investment Trust III, Inc. (KBSR) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 29.8% a year to $16.6M, with an average return on invested capital of -0.1%.
- Graham intrinsic value
- —
- Share price (Oct 18, 2026)
- $0.06
- Market cap
- $9.5M
- Revenue (FY2025)
- $16.6M
- Revenue growth (10-yr CAGR)
- -29.8%
- ROIC (10-yr avg)
- -0.1%
- Free cash flow (FY2025)
- —
KBSR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $16.6M | -$78.8M | -$0.53 | — | — | -5.1% |
| FY2024 | $18.2M | -$10.9M | -$0.07 | — | — | -0.6% |
| FY2023 | $18.7M | -$157.5M | -$1.06 | — | — | -7.9% |
| FY2022 | $18.1M | -$62.5M | -$0.42 | — | — | -3.1% |
| FY2021 | $16.6M | $143.7M | $0.83 | — | — | 6.8% |
| FY2020 | $18.7M | -$12.4M | -$0.10 | — | — | -0.5% |
| FY2019 | $29.8M | $261.2M | $1.49 | — | — | 9.6% |
| FY2018 | $33.1M | $3.3M | — | — | — | 0.1% |
| FY2017 | $31.5M | $1.4M | — | — | — | 0.0% |
| FY2016 | $400.4M | $763.0K | — | — | — | 0.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
KBS Real Estate Investment Trust III, Inc. is facing top-line stagnation, with revenue contracting over the decade.
KBS Real Estate Investment Trust III, Inc. has historically struggled to out-earn its cost of capital, averaging just -0.1% ROIC.
KBS Real Estate Investment Trust III, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, KBS Real Estate Investment Trust III, Inc. is modeled at -29.8% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-36.56 per share.