Latest Ratios: P/E Ratio 30.2x · EV/EBITDA 18.5x · ROE 5.5%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.9B | $13.7B | $15.7B | $13.2B | $13.1B | $12.6B | $6.5B | $8.7B | $6.2B | $7.7B | $10.6B |
| Enterprise Value | $25.3B | $22.1B | $23.6B | $20.1B | $20.2B | $19.9B | $11.6B | $14.0B | $10.9B | $12.9B | $15.5B |
| P/E Ratio → | 30.18 | 24.42 | 42.60 | 20.89 | 132.38 | 15.41 | 6.67 | 27.61 | 12.42 | 20.86 | 31.85 |
| P/S Ratio | 7.89 | 6.39 | 7.73 | 7.39 | 7.57 | 9.24 | 6.12 | 7.54 | 5.30 | 6.41 | 9.02 |
| P/B Ratio | 1.60 | 1.29 | 1.45 | 1.35 | 1.34 | 1.25 | 1.14 | 1.77 | 1.14 | 1.39 | 1.92 |
| P/FCF | 21.87 | 17.69 | 23.12 | 16.32 | 15.20 | 20.37 | 10.98 | 14.97 | 9.68 | 12.53 | 17.83 |
| P/OCF | 15.08 | 12.20 | 15.66 | 12.29 | 15.20 | 20.37 | 10.98 | 14.97 | 9.68 | 12.53 | 17.83 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.32 | 11.60 | 11.28 | 11.70 | 14.57 | 11.00 | 12.10 | 9.36 | 10.77 | 13.23 |
| EV / EBITDA | 18.45 | 16.10 | 19.17 | 17.56 | 19.19 | 24.25 | 19.53 | 18.56 | 12.21 | 16.34 | 20.67 |
| EV / EBIT | 33.65 | 22.02 | 35.87 | 22.50 | 35.36 | 20.94 | 34.97 | 28.65 | 18.71 | 29.96 | 43.81 |
| EV / FCF | — | 28.60 | 34.70 | 24.93 | 23.47 | 32.12 | 19.73 | 24.02 | 17.09 | 21.06 | 26.15 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.7% | 54.7% | 68.7% | 68.8% | 69.3% | 69.4% | 67.6% | 70.9% | 71.8% | 74.1% | 74.5% |
| Operating Margin | 35.2% | 35.2% | 30.9% | 35.8% | 32.7% | 31.1% | 31.4% | 41.2% | 50.0% | 35.9% | 33.6% |
| Net Profit Margin | 27.3% | 27.3% | 20.2% | 36.7% | 7.3% | 61.9% | 94.6% | 35.4% | 42.7% | 35.5% | 32.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.5% | 5.5% | 4.0% | 6.7% | 1.3% | 10.7% | 18.8% | 7.9% | 9.1% | 7.7% | 7.0% |
| ROA | 2.9% | 2.9% | 2.1% | 3.6% | 0.7% | 5.6% | 8.9% | 3.7% | 4.4% | 3.7% | 3.4% |
| ROIC | 3.0% | 3.0% | 2.7% | 2.9% | 2.5% | 2.3% | 2.4% | 3.5% | 4.2% | 3.1% | 2.8% |
| ROCE | 3.9% | 3.9% | 3.3% | 3.6% | 3.2% | 2.9% | 3.0% | 4.5% | 5.3% | 3.8% | 3.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.82 | 0.82 | 0.79 | 0.79 | 0.75 | 0.75 | 0.96 | 1.09 | 0.90 | 0.99 | 0.92 |
| Debt / EBITDA | 6.30 | 6.30 | 6.96 | 6.74 | 6.90 | 9.27 | 9.15 | 7.16 | 5.46 | 6.92 | 6.76 |
| Net Debt / Equity | — | 0.80 | 0.73 | 0.71 | 0.73 | 0.72 | 0.91 | 1.07 | 0.87 | 0.95 | 0.90 |
| Net Debt / EBITDA | 6.14 | 6.14 | 6.40 | 6.06 | 6.76 | 8.87 | 8.66 | 7.00 | 5.30 | 6.62 | 6.57 |
| Debt / FCF | — | 10.91 | 11.58 | 8.61 | 8.27 | 11.75 | 8.75 | 9.05 | 7.41 | 8.53 | 8.32 |
| Interest Coverage | 2.46 | 2.46 | 2.14 | 3.57 | 2.52 | 4.65 | 1.78 | 2.76 | 3.18 | 2.25 | 1.84 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.08 | 1.08 | 3.58 | 6.42 | 4.93 | 7.98 | 8.03 | 1.19 | 1.08 | 1.47 | 1.32 |
| Quick Ratio | 1.08 | 1.08 | 3.58 | 6.42 | 4.93 | 7.98 | 8.03 | 1.19 | 1.08 | 1.47 | 1.32 |
| Cash Ratio | 0.24 | 0.24 | 2.40 | 5.01 | 3.49 | 6.81 | 6.59 | 0.45 | 0.47 | 0.80 | 0.56 |
| Asset Turnover | — | 0.11 | 0.10 | 0.10 | 0.10 | 0.07 | 0.09 | 0.11 | 0.11 | 0.10 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.2% | 5.2% | 4.4% | 5.0% | 4.2% | 3.0% | 5.9% | 6.1% | 8.6% | 6.6% | 4.5% |
| Payout Ratio | 122.3% | 122.3% | 167.0% | 100.5% | 432.4% | 45.3% | 38.0% | 129.5% | 106.4% | 118.8% | 125.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 4.1% | 2.3% | 4.8% | 0.8% | 6.5% | 15.0% | 3.6% | 8.1% | 4.8% | 3.1% |
| FCF Yield | 4.6% | 5.7% | 4.3% | 6.1% | 6.6% | 4.9% | 9.1% | 6.7% | 10.3% | 8.0% | 5.6% |
| Buyback Yield | 0.7% | 0.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 6.6% | 1.2% | 2.9% | 0.0% |
| Total Shareholder Yield | 5.0% | 6.1% | 4.4% | 5.0% | 4.2% | 3.0% | 5.9% | 12.7% | 9.8% | 9.5% | 4.5% |
| Shares Outstanding | — | $674M | $672M | $618M | $618M | $511M | $432M | $422M | $421M | $424M | $420M |
Mixed-use development execution risk
Based on reported figures, Kimco's P/FFO multiple of 15.67x in 2026Q1 suggests a valuation that remains tightly clustered within its historical range, indicating that the market is pricing the REIT as a stable, grocery-anchored operator rather than a high-growth mixed-use developer at this current juncture.
The current P/FFO multiple appears to discount the potential upside from the Signature Series redevelopment pipeline, suggesting investors are prioritizing the defensive nature of the existing retail portfolio. This valuation level warrants further investigation into whether the market is appropriately capturing the long-term value of the densification optionality inherent in the company's land bank.
As reported in financial statements, Kimco maintained a robust NOI margin of 69.1% in 2026Q1, demonstrating that the company's operational structure effectively manages property-level expenses even as it integrates larger portfolios and navigates inflationary pressures on maintenance and property tax line items.
The consistency of these margins suggests that the company's NNN lease structure is successfully insulating the bottom line from rising operating costs. This stability appears to be a key driver of the company's ability to maintain consistent FFO growth, as it minimizes the leakage of rental income into variable property expenses.
According to recent quarterly data, Kimco's FFO payout ratio has stabilized near 60%, providing a comfortable buffer that suggests the current dividend distribution is well-supported by recurring cash flows and leaves ample room for ongoing capital reinvestment into the portfolio.
The maintenance of this payout ratio indicates a disciplined approach to capital allocation, prioritizing the funding of redevelopment projects over aggressive dividend hikes. Investors should monitor this metric for any signs of compression, which could indicate that rising capital expenditure requirements are beginning to constrain the company's ability to return cash to shareholders.
Based on reported figures, Kimco's debt-to-equity ratio of 0.79 in 2026Q1 suggests a manageable leverage profile, though the reliance on interest coverage ratios near 2.50x warrants further investigation into the company's sensitivity to future refinancing cycles in a volatile interest rate environment.
While the headline leverage appears adequate, the potential for off-balance-sheet joint venture debt to amplify risk remains a critical consideration for analysts. The company's ability to maintain this leverage profile while funding its mixed-use pipeline will be a key indicator of its long-term financial health.
The market's frequent reliance on standard P/E ratios for Kimco is fundamentally flawed, as reported GAAP earnings are heavily distorted by non-cash depreciation charges that fail to reflect the actual economic cash-generating capacity of the company's high-quality, grocery-anchored retail real estate portfolio.
Investors should instead focus on P/FFO or P/AFFO, which adjust for these non-cash items and provide a more accurate representation of the REIT's true operational performance. Using P/E obscures the underlying cash flow reality and may lead to an incorrect assessment of the company's valuation relative to its peers.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying KIM stock.
Kimco Realty Corporation's current P/E ratio is 30.2x. The historical average is 30.3x. This places it at the 76th percentile of its historical range.
Kimco Realty Corporation's current EV/EBITDA is 18.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.8x.
Kimco Realty Corporation's return on equity (ROE) is 5.5%. The historical average is 9.3%.
Based on historical data, Kimco Realty Corporation is trading at a P/E of 30.2x. This is at the 76th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kimco Realty Corporation's current dividend yield is 4.23% with a payout ratio of 122.3%.
Kimco Realty Corporation has 54.7% gross margin and 35.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Kimco Realty Corporation's Debt/EBITDA ratio is 6.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.