Kilroy Realty Corp. (KRC) intrinsic value & 10-year financials
Kilroy Realty Corp. (KRC) has a Graham intrinsic value of $6.16 per share. At $34.83 on Oct 17, 2026, the stock trades 465% above that value. Over the last 10 fiscal years revenue shrank 32.4% a year to $19.1M, with an average return on invested capital of 6.0%.
- Graham intrinsic value
- $6.16
- Share price (Oct 17, 2026)
- $34.83
- Price vs Graham value
- 465% above
- Market cap
- $4.1B
- Revenue (FY2025)
- $19.1M
- Revenue growth (10-yr CAGR)
- -32.4%
- ROIC (10-yr avg)
- 6.0%
- Free cash flow (FY2025)
- —
KRC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $19.1M | $302.6M | $2.32 | — | — | 5.6% |
| FY2024 | $17.5M | $233.0M | $1.77 | — | — | 4.3% |
| FY2023 | $12.0M | $238.3M | $1.80 | — | — | 4.4% |
| FY2022 | $11.0M | $259.5M | $1.97 | — | — | 4.8% |
| FY2021 | $6.0M | $658.9M | $5.36 | — | — | 12.6% |
| FY2020 | $6.1M | $207.3M | $1.63 | — | — | 4.4% |
| FY2019 | $11.0M | $195.4M | $1.86 | — | — | 4.8% |
| FY2018 | $9.7M | $258.4M | $2.55 | — | — | 6.8% |
| FY2017 | $719.0M | $164.6M | $1.51 | — | — | 4.5% |
| FY2016 | $642.6M | $293.8M | $2.97 | — | — | 8.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
KILROY REALTY CORP is facing top-line stagnation, with revenue contracting over the decade.
KILROY REALTY CORP 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.
KILROY REALTY CORP 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, KILROY REALTY CORP is modeled at -2.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $6.16 per share.