Alexandria Real Estate Equities vs Kilroy Realty
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KIRAβs take AI analyst
I put Alexandria Real Estate Equities and Kilroy Realty side by side, using each oneβs latest annual report. Here is what stands out:
- 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%).
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
Alexandria Real Estate Equities
ARE
2/6
5-year growthShare count change
Kilroy Realty
KRC
4/6
Revenue growthNet marginFCF marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | ARE FY25 | KRC FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.4B | $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 |
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.