Kilroy Realty Corporation

NYSE:KRC Stock Report

Market Cap: US$5.0b

Kilroy Realty Valuation

Is KRC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KRC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$42.4
Fair Value
0.1% overvalued intrinsic discount
15
Number of Analysts

Below Fair Value: KRC ($42.45) is trading above our estimate of fair value ($42.4)

Significantly Below Fair Value: KRC is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KRC?

Key metric: As KRC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KRC. This is calculated by dividing KRC's market cap by their current earnings.
What is KRC's PE Ratio?
PE Ratio23x
EarningsUS$218.51m
Market CapUS$5.03b

Price to Earnings Ratio vs Peers

How does KRC's PE Ratio compare to its peers?

The above table shows the PE ratio for KRC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35.1x
CUZ Cousins Properties
80.3x8.57%US$4.8b
CDP COPT Defense Properties
22.6x1.27%US$3.3b
HIW Highwoods Properties
27.7x-21.31%US$3.5b
VNO Vornado Realty Trust
9.7x-78.67%US$8.6b
KRC Kilroy Realty
23x-38.63%US$5.0b

Price-To-Earnings vs Peers: KRC is good value based on its Price-To-Earnings Ratio (23x) compared to the peer average (35.1x).

Price to Earnings Ratio vs Industry

How does KRC's PE Ratio compare vs other companies in the Global Office REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KRC 23.0xIndustry Avg. 22.6xNo. of Companies14PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KRC is expensive based on its Price-To-Earnings Ratio (23x) compared to the Global Office REITs industry average (22.5x).

Price to Earnings Ratio vs Fair Ratio

What is KRC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KRC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23x
Fair PE Ratio19.9x

Price-To-Earnings vs Fair Ratio: KRC is expensive based on its Price-To-Earnings Ratio (23x) compared to the estimated Fair Price-To-Earnings Ratio (19.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KRC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$42.45
US$41.33
-2.63%
14.21%US$55.00US$33.00n/a15
Sep ’26US$41.59
US$39.47
-5.11%
13.47%US$55.00US$33.00n/a15
Aug ’26US$36.55
US$38.40
+5.06%
16.82%US$59.00US$33.00n/a15
Jul ’26US$34.56
US$38.47
+11.30%
16.98%US$59.00US$31.00n/a15
Jun ’26US$32.20
US$38.60
+19.88%
17.05%US$59.00US$31.00n/a15
May ’26US$31.96
US$39.33
+23.07%
16.04%US$59.00US$31.00n/a15
Apr ’26US$32.86
US$40.33
+22.74%
15.93%US$59.00US$34.00n/a15
Mar ’26US$35.70
US$43.43
+21.65%
12.66%US$59.00US$34.00n/a14
Feb ’26US$39.02
US$44.07
+12.95%
12.44%US$59.00US$34.00n/a14
Jan ’26US$40.45
US$43.93
+8.61%
12.00%US$59.00US$34.00n/a15
Dec ’25US$41.53
US$43.00
+3.54%
12.88%US$59.00US$34.00n/a15
Nov ’25US$38.89
US$41.67
+7.14%
13.68%US$59.00US$34.00n/a15
Oct ’25US$38.27
US$41.00
+7.13%
13.80%US$59.00US$34.00US$42.1515
Sep ’25US$36.27
US$40.40
+11.39%
14.37%US$59.00US$33.00US$41.5915
Aug ’25US$35.25
US$40.87
+15.93%
14.29%US$59.00US$33.00US$36.5515
Jul ’25US$31.27
US$41.13
+31.54%
14.53%US$59.00US$33.00US$34.5615
Jun ’25US$33.53
US$41.60
+24.07%
13.42%US$59.00US$34.00US$32.2015
May ’25US$33.22
US$42.20
+27.03%
12.30%US$59.00US$37.00US$31.9615
Apr ’25US$35.16
US$42.00
+19.45%
12.51%US$59.00US$37.00US$32.8615
Mar ’25US$36.69
US$42.57
+16.03%
12.45%US$59.00US$37.00US$35.7014
Feb ’25US$35.20
US$43.93
+24.80%
13.56%US$63.00US$37.00US$39.0214
Jan ’25US$39.84
US$41.85
+5.04%
18.22%US$63.00US$30.00US$40.4513
Dec ’24US$35.41
US$40.36
+13.97%
18.32%US$63.00US$30.00US$41.5314
Nov ’24US$28.47
US$41.14
+44.51%
16.38%US$63.00US$35.00US$38.8914
Oct ’24US$31.61
US$42.08
+33.11%
16.58%US$63.00US$34.00US$38.2713
US$41.33
Fair Value
2.7% overvalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/03 22:17
End of Day Share Price 2025/10/03 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Kilroy Realty Corporation is covered by 38 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David RodgersBaird
Brendan LynchBarclays
John KimBMO Capital Markets Equity Research