Kilroy Realty Corporation

NYSE:KRC Stock Report

Market Cap: US$4.8b

Kilroy Realty Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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.

Below Fair Value: KRC ($40.5) is trading below our estimate of fair value ($57.47)

Significantly Below Fair Value: KRC is trading below fair value by more than 20%.

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 Ratio24.3x
EarningsUS$196.73m
Market CapUS$4.83b

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 Average43.5x
CUZ Cousins Properties
93.6x12.9%US$4.8b
CDP COPT Defense Properties
25.5x4.9%US$3.6b
HIW Highwoods Properties
22.5x-21.4%US$3.3b
BXP BXP
32.5x2.1%US$13.2b
KRC Kilroy Realty
24.3x-7.9%US$4.8b

Price-To-Earnings vs Peers: KRC is good value based on its Price-To-Earnings Ratio (24.3x) compared to the peer average (43.5x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KRC 24.3xIndustry Avg. 20.5xNo. of Companies8PE01020304050+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KRC is expensive based on its Price-To-Earnings Ratio (24.3x) compared to the Global Office REITs industry average (20.5x).

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 Ratio24.3x
Fair PE Ratio31.1x

Price-To-Earnings vs Fair Ratio: KRC is good value based on its Price-To-Earnings Ratio (24.3x) compared to the estimated Fair Price-To-Earnings Ratio (31.1x).

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$40.50
US$44.00
+8.6%
11.9%US$59.00US$34.00n/a15
Dec ’25US$41.53
US$43.00
+3.5%
12.9%US$59.00US$34.00n/a15
Nov ’25US$38.89
US$41.67
+7.1%
13.7%US$59.00US$34.00n/a15
Oct ’25US$38.27
US$41.00
+7.1%
13.8%US$59.00US$34.00n/a15
Sep ’25US$36.27
US$40.40
+11.4%
14.4%US$59.00US$33.00n/a15
Aug ’25US$35.25
US$40.87
+15.9%
14.3%US$59.00US$33.00n/a15
Jul ’25US$31.27
US$41.13
+31.5%
14.5%US$59.00US$33.00n/a15
Jun ’25US$33.53
US$41.60
+24.1%
13.4%US$59.00US$34.00n/a15
May ’25US$33.22
US$42.20
+27.0%
12.3%US$59.00US$37.00n/a15
Apr ’25US$35.16
US$42.00
+19.5%
12.5%US$59.00US$37.00n/a15
Mar ’25US$36.69
US$42.57
+16.0%
12.5%US$59.00US$37.00n/a14
Feb ’25US$35.20
US$43.93
+24.8%
13.6%US$63.00US$37.00n/a14
Jan ’25US$39.84
US$41.85
+5.0%
18.2%US$63.00US$30.00n/a13
Dec ’24US$35.41
US$40.36
+14.0%
18.3%US$63.00US$30.00US$41.5314
Nov ’24US$28.47
US$41.14
+44.5%
16.4%US$63.00US$35.00US$38.8914
Oct ’24US$31.61
US$42.08
+33.1%
16.6%US$63.00US$34.00US$38.2713
Sep ’24US$37.83
US$41.42
+9.5%
17.4%US$63.00US$34.00US$36.2712
Aug ’24US$35.14
US$39.67
+12.9%
20.9%US$63.00US$29.00US$35.2512
Jul ’24US$30.09
US$40.31
+34.0%
20.8%US$63.00US$29.00US$31.2713
Jun ’24US$26.75
US$40.00
+49.5%
20.9%US$63.00US$29.00US$33.5315
May ’24US$28.53
US$41.60
+45.8%
18.2%US$63.00US$32.00US$33.2215
Apr ’24US$32.40
US$41.80
+29.0%
18.0%US$63.00US$31.00US$35.1615
Mar ’24US$36.18
US$46.93
+29.7%
17.8%US$69.00US$32.00US$36.6914
Feb ’24US$41.00
US$47.40
+15.6%
17.3%US$69.00US$32.00US$35.2015
Jan ’24US$38.67
US$50.53
+30.7%
14.6%US$69.00US$38.00US$39.8415
Dec ’23US$42.69
US$55.07
+29.0%
22.0%US$91.00US$38.00US$35.4115

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 04:19
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Kilroy Realty Corporation is covered by 36 analysts. 10 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