Kimco Realty vs NNN Reit
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KIRA’s take AI analyst
I put Kimco Realty and NNN Reit side by side, using each one’s latest annual report. Here is what stands out:
- Kimco Realty is the larger business, with $2.1B of revenue in fiscal 2025 against $926M for NNN Reit, about 2.3 times as much.
- NNN Reit grew revenue faster (6.6%, against 5.1%).
- NNN Reit kept more of each dollar of sales as operating profit (63.6% operating margin, against 36.0%).
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
Kimco Realty
KIM
2/6
5-year growthShare count change
NNN Reit
NNN
4/6
Revenue growthOperating marginNet marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | KIM FY25 | NNN FY25 |
|---|---|---|
| Size | ||
| Market cap | $15.9B | $7.8B |
| Revenue | $2.1B | $926M |
| Free cash flow | — | — |
| Net income | $585M | $390M |
| Growth | ||
| Revenue growth | 5.1% | 6.6% |
| 5-year growth | 15.1% | 7.0% |
| Share count change | 0.5% | 2.1% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 36.0% | 63.6% |
| Net margin | 27.3% | 42.1% |
| FCF margin | — | — |
| Return on capital | 4.3% | — |
| Return on equity | 5.6% | 8.9% |
| Balance sheet | ||
| Net debt | $7.5B | — |
| Net debt / EBITDA | 5.4x | — |
| Dividends and buybacks | $832M | $443M |
| Valuation & quality | ||
| P/E | 27.5x | — |
| Piotroski F-score | — | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.