# Kilroy Realty Corp. (KRC) — Stock CV

Kilroy Realty Corp. is a $3.98B real estate company. Revenue shrank 3.8% over the last year, and it keeps 15¢ of every dollar of sales as profit. It trades at 23.8× earnings — in the most expensive third of its own history.

> Kilroy Realty is a premier owner and landlord of approximately 17.1 million square feet of office space across Los Angeles, San Diego, the San Francisco Bay Area, Austin, Texas, and greater Seattle. The company operates as a real estate investment trust.

## Identity

- **Ticker**: KRC
- **Sector**: Real Estate
- **Industry**: Real Estate Investment Trusts
- **Headquarters**: LOS ANGELES, CA
- **Employees**: 241
- **Website**: https://www.kilroyrealty.com
- **Market cap**: $3.98B
- **Last price**: $34.25
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $1.09B
- **Net income**: $169M
- **Free cash flow**: $445M
- **P/E**: 23.8
- **Revenue growth (YoY)**: -3.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 65 |
| Growth | 18 |
| Profitability | 50 |
| Health | 28 |
| Quality | 72 |
| Moat | 50 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [ ] Revenue growing — -3.8% YoY
- [x] Profitable — $169M TTM
- [x] Profit growing — +5.4% YoY
- [x] Generates cash — $445M TTM
- [x] Debt under control — current ratio 1.53
- [x] Established company — $3.98B market cap
- [x] Not printing shares — +4.5% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 28/100
- [x] Pays a dividend — yield 6.39%
- [x] Valuation not extreme — P/E 23.8

## Experience (career milestones)

- **FY2022** — Revenue crossed $1B: $1.10B for the year
- **FY2021** — Best year on record: $628M net income
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Positive free cash flow every year since: 10-year streak

## Strengths

- High gross margin (66.4%)
- Strong cash conversion — FCF is 40.7% of revenue

## Watch-outs

- Revenue shrinking 3.8% year over year

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $955M | $628M | $396M |
| FY2022 | $1.10B | $233M | $499M |
| FY2023 | $1.13B | $212M | $505M |
| FY2024 | $1.14B | $211M | $441M |
| FY2025 | $1.11B | $276M | $450M |

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Source: https://stockcv.com/KRC — derived from company filings; may be delayed or incomplete. Information, not investment advice.