Federal Realty Investment Trust vs Kimco Realty
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KIRA’s take AI analyst
I put Federal Realty Investment Trust and Kimco Realty 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 $1.3B for Federal Realty Investment Trust, about 1.7 times as much.
- Federal Realty Investment Trust grew revenue faster (6.4%, against 5.1%).
- Federal Realty Investment Trust kept more of each dollar of sales as operating profit (47.1% operating margin, against 36.0%).
- Federal Realty Investment Trust earned a higher return on the capital invested in it (6.0%, against 4.3%).
- Investors pay more for each dollar of Kimco Realty’s earnings: a P/E of 27.5x against 18.9x for Federal Realty Investment Trust.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Federal Realty Investment Trust
FRT
6/8
Revenue growthOperating marginNet marginReturn on capitalReturn on equityNet debt / EBITDA
Kimco Realty
KIM
2/8
5-year growthShare count change
Side by side
Best in the row
| Latest fiscal year | FRT FY25 | KIM FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.4B | $15.9B |
| Revenue | $1.3B | $2.1B |
| Free cash flow | — | — |
| Net income | $411M | $585M |
| Growth | ||
| Revenue growth | 6.4% | 5.1% |
| 5-year growth | 8.9% | 15.1% |
| Share count change | 3.4% | 0.5% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 47.1% | 36.0% |
| Net margin | 32.1% | 27.3% |
| FCF margin | — | — |
| Return on capital | 6.0% | 4.3% |
| Return on equity | 12.8% | 5.6% |
| Balance sheet | ||
| Net debt | $4.9B | $7.5B |
| Net debt / EBITDA | 5.0x | 5.4x |
| Dividends and buybacks | $0.0M | $832M |
| Valuation & quality | ||
| P/E | 18.9x | 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.