Alexandria Real Estate Equities vs Kilroy Realty
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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 (β2.0%, against β2.9%).
- Kilroy Realty turned more of its sales into free cash flow (40.5% FCF margin, against β15.1%).
| Latest fiscal year | ARE Β· FY25 | KRC Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $4.4B |
| Revenue | $3.0B | $1.1B |
| Free cash flow | β$457M | $450M |
| Net income | β$1.4B | $303M |
| Growth | ||
| Revenue growth | β2.9% | β2.0% |
| 5-year growth | 9.9% | 4.4% |
| Share count change | β1.0% | 0.6% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | β47.2% | 27.2% |
| FCF margin | β15.1% | 40.5% |
| Return on capital | β | β |
| Return on equity | β8.6% | 5.6% |
| Balance sheet | ||
| Net debt | $11.9B | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $1.1B | $258M |
| Valuation & quality | ||
| P/E | β | 20.4x |
| Piotroski F-score | β | β |
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 β
KRC β
FY17
ARE β
KRC β
FY18
ARE β
KRC β
FY19
ARE β
KRC β
FY20
ARE β
KRC β
FY21
ARE β
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FY22
ARE β
KRC β
FY23
ARE β
KRC β
FY24
ARE β
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FY25
ARE β
KRC β
ARE
KRC
FY16
ARE β$428M
KRC $233M
FY17
ARE β$443M
KRC $259M
FY18
ARE β$357M
KRC $244M
FY19
ARE β$541M
KRC $239M
FY20
ARE β$563M
KRC $326M
FY21
ARE β$1.1B
KRC $396M
FY22
ARE β$2.0B
KRC $499M
FY23
ARE β$1.8B
KRC $505M
FY24
ARE β$918M
KRC $441M
FY25
ARE β$457M
KRC $450M
ARE
KRC
FY16
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FY17
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FY18
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FY19
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FY20
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FY21
ARE β
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FY22
ARE β
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FY23
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FY24
ARE β
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FY25
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ARE
KRC
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.