Alexandria Real Estate Equities
ARE · Office REITs
$43.02
0.7%Kilroy Realty
KRC · Office REITs
$37.27
3.6%The short version
- Alexandria Real Estate Equities is the larger business, with $3.0B of revenue in fiscal 2025 against $1.1B for Kilroy Realty, about 2.7 times as much.
- Kilroy Realty grew revenue faster (−2.0%, against −2.9%).
- Kilroy Realty turned more of its sales into free cash flow (40.5% FCF margin, against −15.1% FCF margin).
| Latest fiscal year | ARE · FY25 | KRC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $4.4B |
| Revenue | $3.0B | $1.1B |
| Free cash flow | −$457M | $450M |
| Net income | −$1.4B | $303M |
| Growth | ||
| Revenue growth | −2.9% | −2.0% |
| 5-year growth | 9.9% | 4.4% |
| Share count change | −1.0% | 0.6% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | −47.2% | 27.2% |
| FCF margin | −15.1% | 40.5% |
| Return on capital | — | — |
| Return on equity | −8.6% | 5.6% |
| Balance sheet | ||
| Net debt | $11.9B | — |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $1.1B | $258M |
| Valuation & quality | ||
| P/E | — | 20.4x |
| Piotroski F-score | — | — |
FY16
ARE $922M
KRC $643M
FY17
ARE $1.1B
KRC $719M
FY18
ARE $1.3B
KRC $747M
FY19
ARE $1.5B
KRC $838M
FY20
ARE $1.9B
KRC $898M
FY21
ARE $2.1B
KRC $955M
FY22
ARE $2.6B
KRC $1.1B
FY23
ARE $2.9B
KRC $1.1B
FY24
ARE $3.1B
KRC $1.1B
FY25
ARE $3.0B
KRC $1.1B
ARE
KRC
FY16
ARE —
KRC —
FY17
ARE —
KRC —
FY18
ARE —
KRC —
FY19
ARE —
KRC —
FY20
ARE —
KRC —
FY21
ARE —
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FY22
ARE —
KRC —
FY23
ARE —
KRC —
FY24
ARE —
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FY25
ARE —
KRC —
ARE
KRC
FY16
ARE −$428M
KRC $233M
FY17
ARE −$443M
KRC $259M
FY18
ARE −$357M
KRC $244M
FY19
ARE −$541M
KRC $239M
FY20
ARE −$563M
KRC $326M
FY21
ARE −$1.1B
KRC $396M
FY22
ARE −$2.0B
KRC $499M
FY23
ARE −$1.8B
KRC $505M
FY24
ARE −$918M
KRC $441M
FY25
ARE −$457M
KRC $450M
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KRC
FY16
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FY17
ARE —
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FY18
ARE —
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FY19
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FY20
ARE —
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FY21
ARE —
KRC —
FY22
ARE —
KRC —
FY23
ARE —
KRC —
FY24
ARE —
KRC —
FY25
ARE —
KRC —
ARE
KRC
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.