Kimco Realty vs Regency Centers
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The short version
- Kimco Realty is the larger business, with $2.1B of revenue in fiscal 2025 against $1.6B for Regency Centers.
- Regency Centers grew revenue faster (6.9%, against 5.1%).
- Regency Centers kept more of each dollar of sales as operating profit (72.3% operating margin, against 36.0%).
- Regency Centers earned a higher return on the capital invested in it (7.7%, against 4.3%).
- Investors pay more for each dollar of Kimco Realty’s earnings: a P/E of 27.5x against 25.4x for Regency Centers.
| Latest fiscal year | KIM · FY25 | REG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $15.9B | — |
| Revenue | $2.1B | $1.6B |
| Free cash flow | — | $393M |
| Net income | $585M | $528M |
| Growth | ||
| Revenue growth | 5.1% | 6.9% |
| 5-year growth | 15.1% | 8.9% |
| Share count change | 0.5% | — |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 36.0% | 72.3% |
| Net margin | 27.3% | 34.0% |
| FCF margin | — | 25.3% |
| Return on capital | 4.3% | 7.7% |
| Return on equity | 5.6% | 7.7% |
| Balance sheet | ||
| Net debt | $7.5B | $4.6B |
| Net debt / EBITDA | 5.4x | 3.0x |
| Dividends and buybacks | $832M | $512M |
| Valuation & quality | ||
| P/E | 27.5x | 25.4x |
| Piotroski F-score | — | — |
Revenue
FY16
KIM $1.2B
REG —
FY17
KIM $1.2B
REG $984M
FY18
KIM $1.2B
REG $1.1B
FY19
KIM $1.2B
REG $1.1B
FY20
KIM $1.1B
REG $1.0B
FY21
KIM $1.4B
REG $1.2B
FY22
KIM $1.7B
REG $1.2B
FY23
KIM $1.8B
REG $1.3B
FY24
KIM $2.0B
REG $1.5B
FY25
KIM $2.1B
REG $1.6B
KIM
REG
Operating margin
FY16
KIM 33.6%
REG —
FY17
KIM 35.9%
REG —
FY18
KIM 50.0%
REG —
FY19
KIM 41.2%
REG —
FY20
KIM 31.4%
REG —
FY21
KIM 31.1%
REG —
FY22
KIM 32.7%
REG 73.3%
FY23
KIM 35.8%
REG 71.9%
FY24
KIM 30.9%
REG 72.0%
FY25
KIM 36.0%
REG 72.3%
KIM
REG
Free cash flow
FY16
KIM —
REG —
FY17
KIM —
REG $123M
FY18
KIM —
REG $384M
FY19
KIM —
REG $421M
FY20
KIM —
REG $318M
FY21
KIM —
REG $482M
FY22
KIM —
REG $460M
FY23
KIM —
REG $487M
FY24
KIM —
REG $447M
FY25
KIM —
REG $393M
KIM
REG
Return on capital
FY16
KIM 2.2%
REG —
FY17
KIM 4.5%
REG —
FY18
KIM 5.9%
REG —
FY19
KIM 5.0%
REG 3.3%
FY20
KIM 3.3%
REG 1.6%
FY21
KIM 3.1%
REG 4.8%
FY22
KIM 1.7%
REG 9.2%
FY23
KIM 3.6%
REG 9.0%
FY24
KIM 3.4%
REG 9.2%
FY25
KIM 4.3%
REG 7.7%
KIM
REG
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.