Kilroy Realty vs Vornado Realty Trust
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KIRA’s take AI analyst
I put Kilroy Realty and Vornado Realty Trust side by side, using each one’s latest annual report. Here is what stands out:
- Vornado Realty Trust is the larger business, with $1.8B of revenue in fiscal 2025 against $1.1B for Kilroy Realty, about 1.6 times as much.
- Vornado Realty Trust grew revenue faster (1.3%, against −2.0%).
- Vornado Realty Trust turned more of its sales into free cash flow (53.1% FCF margin, against 40.5%).
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
Kilroy Realty
KRC
2/6
5-year growthShare count change
Vornado Realty Trust
VNO
4/6
Revenue growthNet marginFCF marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | KRC FY25 | VNO FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.4B | $6.8B |
| Revenue | $1.1B | $1.8B |
| Free cash flow | $450M | $962M |
| Net income | $303M | $905M |
| Growth | ||
| Revenue growth | −2.0% | 1.3% |
| 5-year growth | 4.4% | 3.5% |
| Share count change | 0.6% | 2.3% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | 27.2% | 50.0% |
| FCF margin | 40.5% | 53.1% |
| Return on capital | — | 17.4% |
| Return on equity | 5.6% | 16.2% |
| Balance sheet | ||
| Net debt | — | $1.4B |
| Net debt / EBITDA | — | 0.8x |
| Dividends and buybacks | $258M | $192M |
| Valuation & quality | ||
| P/E | 20.4x | — |
| 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.