Revenue growth remains steady at 4.0% year-over-year as of 2026Q1, supported by a robust 69.1% NOI margin that reflects effective property-level expense management.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Revenue | 2.16B | 2.14B | 2.04B | 1.78B | 1.73B | 1.36B | 1.06B | 1.16B | 1.16B | 1.2B | 1.17B | 1.17B | 993.9M | 946.67M | 922.3M | 916.29M | 849.55M | 844.33M | 758.7M | 681.55M | 593.88M | 522.54M | 516.97M | 479.66M | 450.83M | 468.62M | 459.41M | 433.88M | 338.8M | 198.93M | 168.14M |
| Revenue Growth % | 4.43% | 5.06% | 14.22% | 3.22% | 26.61% | 28.99% | -8.71% | -0.5% | -3% | 2.57% | 0.34% | 17.39% | 4.99% | 2.64% | 0.66% | 7.86% | 0.62% | 11.29% | 11.32% | 14.76% | 13.65% | 1.08% | 7.78% | 6.4% | -3.8% | 2% | 5.88% | 28.06% | 70.31% | 18.31% | 12.25% |
| Property Operating Expenses | 978.99M | 970.42M | 637.65M | 556.72M | 530.91M | 417.91M | 342.97M | 336.95M | 328.56M | 311.13M | 298.52M | 304.48M | 258.62M | 246.06M | 246.83M | 256.02M | 252.95M | 236.54M | 216.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Operating Income (NOI) | 1.18B | 1.17B | 1.4B | 1.23B | 1.2B | 946.67M | 714.92M | 821.93M | 836.2M | 889.71M | 872.27M | 862.29M | 735.28M | 700.61M | 675.47M | 660.27M | 596.6M | 607.79M | 542.63M | 681.55M | 593.88M | 522.54M | 516.97M | 479.66M | 450.83M | 468.62M | 459.41M | 433.88M | 338.8M | 198.93M | 168.14M |
| NOI Margin % | 54.71% | 54.66% | 68.7% | 68.78% | 69.27% | 69.37% | 67.58% | 70.92% | 71.79% | 74.09% | 74.5% | 73.9% | 73.98% | 74.01% | 73.24% | 72.06% | 70.23% | 71.98% | 71.52% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Operating Expenses | 402.65M | 417.12M | 770.27M | 587.9M | 631.31M | 522.39M | 382.31M | 344.35M | 253.8M | 431.92M | 448.12M | 518.72M | 424.96M | 390.56M | 353.48M | 355.86M | 369.54M | 371.35M | 322.19M | 288.49M | 375.43M | 289.24M | 275.36M | 251.77M | 47.04M | 139.06M | 138.89M | 146.6M | 133.49M | 97.64M | 83.31M |
| G&A Expenses | 173M | 170.21M | 138.14M | 136.81M | 120.14M | 104.12M | 93.22M | 96.94M | 87.8M | 118.45M | 117.3M | 122.73M | 122.2M | 127.91M | 124.48M | 118.94M | 109.2M | 110.09M | 117.88M | 103.88M | 77.68M | 56.8M | 44.61M | 38.66M | 31.9M | 28.98M | 25.69M | 23.83M | 18.58M | 11.65M | 10.33M |
| EBITDA | 1.4B | 1.37B | 1.23B | 1.15B | 1.05B | 819.61M | 595.85M | 755.47M | 892.79M | 791.83M | 748.97M | 688.1M | 583.41M | 507.32M | 559.84M | 549.35M | 477.48M | 482.79M | 474.63M | 393.58M | 356.89M | 281.16M | 410.79M | 442.24M | 429.36M | 350.21M | 341.29M | 322.05M | 247.46M | 145.52M | 125.29M |
| EBITDA Margin % | 64.66% | 64.12% | 60.52% | 64.26% | 60.97% | 60.06% | 56.32% | 65.19% | 76.65% | 65.94% | 63.97% | 58.97% | 58.7% | 53.59% | 60.7% | 59.95% | 56.2% | 57.18% | 62.56% | 57.75% | 60.09% | 53.81% | 79.46% | 92.2% | 95.24% | 74.73% | 74.29% | 74.23% | 73.04% | 73.15% | 74.51% |
| Depreciation & Amortization | 617.8M | 619.76M | 603.68M | 507.26M | 487.91M | 395.32M | 263.24M | 277.88M | 310.38M | 360.81M | 355.32M | 344.53M | 273.09M | 257.86M | 262.74M | 251.14M | 247.64M | 227.78M | 206.52M | 191.27M | 144.77M | 108.04M | 102.87M | 89.07M | 76.67M | 74.21M | 64.97M | 67.4M | 51.3M | 30.05M | 27.1M |
| D&A / Revenue % | 28.58% | 28.96% | 29.64% | 28.44% | 28.24% | 28.97% | 24.88% | 23.98% | 26.65% | 30.05% | 30.35% | 29.53% | 27.48% | 27.24% | 28.49% | 27.41% | 29.15% | 26.98% | 27.22% | 28.06% | 24.38% | 20.68% | 19.9% | 18.57% | 17.01% | 15.84% | 14.14% | 15.53% | 15.14% | 15.11% | 16.12% |
| Operating Income | 779.86M | 752.57M | 629.09M | 638.78M | 565.46M | 424.29M | 332.61M | 477.59M | 582.41M | 431.02M | 393.65M | 343.57M | 310.31M | 249.47M | 297.09M | 298.21M | 229.84M | 255.01M | 268.11M | 202.31M | 212.12M | 173.12M | 307.92M | 353.17M | 352.68M | 276M | 276.31M | 254.65M | 196.16M | 115.46M | 98.19M |
| Operating Margin % | 36.08% | 35.17% | 30.88% | 35.82% | 32.73% | 31.09% | 31.44% | 41.21% | 50% | 35.89% | 33.62% | 29.45% | 31.22% | 26.35% | 32.21% | 32.55% | 27.05% | 30.2% | 35.34% | 29.68% | 35.72% | 33.13% | 59.56% | 73.63% | 78.23% | 58.9% | 60.15% | 58.69% | 57.9% | 58.04% | 58.39% |
| Interest Expense | 4M | 407.52M | 307.81M | 250.2M | 226.82M | 204.13M | 186.9M | 177.4M | 183.34M | 191.96M | 192.55M | 218.89M | 203.76M | 213.91M | 227.59M | 225.03M | 226.39M | 209.88M | 212.59M | 213.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | - | 2.46x | 2.14x | 3.57x | 2.52x | 4.65x | 1.78x | 2.76x | 3.18x | 2.25x | 1.84x | 1.77x | 1.50x | 1.27x | 1.03x | 1.21x | 1.11x | 0.87x | 1.49x | 1.38x | - | - | - | - | - | - | - | - | - | - | - |
| Non-Operating Income | -143.71M | -250.55M | -29.93M | -255.34M | -6.18M | -524.97M | -140K | -11.81M | -279K | -806K | 40.25M | -44.23M | 4.45M | -22.35M | -2.58M | -35.25M | -21.1M | 44.48M | -29.59M | -91.28M | 0 | 0 | -402.31M | -384.76M | -176.14M | -265.92M | -73.92M | -263.17M | -225.97M | -192.84M | -153.31M |
| Pretax Income | 596.14M | 595.61M | 444.86M | 726.9M | 171.19M | 853.08M | 1B | 410.24M | 500.06M | 438.79M | 464.72M | 685.4M | 299.71M | 322.54M | 197.9M | 196.29M | 145.3M | -34.54M | 259.97M | 251.4M | 271.13M | 255.98M | 226.4M | 235.71M | 248.07M | 230.25M | 0 | 0 | 0 | 0 | 0 |
| Pretax Margin % | 27.58% | 27.83% | 21.84% | 40.76% | 9.91% | 62.52% | 94.89% | 35.4% | 42.93% | 36.54% | 39.69% | 58.74% | 30.15% | 34.07% | 21.46% | 21.42% | 17.1% | -4.09% | 34.27% | 36.89% | 45.65% | 48.99% | 43.79% | 49.14% | 55.02% | 49.13% | 0% | 0% | 0% | 0% | 0% |
| Income Tax | 2.09M | 2.8M | 25.42M | 60.95M | 56.65M | 3.38M | 978K | -3.32M | 1.6M | -880K | 72.55M | 60.23M | 22.44M | 34.52M | 3.94M | 19.54M | 3.42M | -36.62M | 3.54M | -44.49M | -4.39M | -430K | -3.92M | 1.52M | 12.9M | 19.38M | 71.29M | 77.87M | 73.9M | 29.63M | 24.36M |
| Effective Tax Rate % | 0.35% | 0.47% | 5.71% | 8.39% | 33.09% | 0.4% | 0.1% | -0.81% | 0.32% | -0.2% | 15.61% | 8.79% | 7.49% | 10.7% | 1.99% | 9.95% | 2.35% | 106.04% | 1.36% | -17.7% | -1.62% | -0.17% | -1.73% | 0.64% | 5.2% | 8.42% | - | - | - | - | - |
| Net Income | 616.18M | 584.1M | 410.79M | 654.27M | 125.98M | 844.06M | 1B | 410.61M | 497.8M | 426.07M | 378.85M | 894.19M | 424M | 236.28M | 266.07M | 169.05M | 142.93M | -3.94M | 249.9M | 442.83M | 428.26M | 363.63M | 297.14M | 307.88M | 245.67M | 236.54M | 205.03M | 176.8M | 122.27M | 85.7M | 73.8M |
| Net Margin % | 28.51% | 27.29% | 20.17% | 36.69% | 7.29% | 61.85% | 94.61% | 35.43% | 42.74% | 35.48% | 32.36% | 76.64% | 42.66% | 24.96% | 28.85% | 18.45% | 16.82% | -0.47% | 32.94% | 64.97% | 72.11% | 69.59% | 57.48% | 64.19% | 54.49% | 50.48% | 44.63% | 40.75% | 36.09% | 43.08% | 43.89% |
| Net Income Growth % | 11.11% | 42.19% | -37.21% | 419.36% | -85.08% | -15.66% | 143.75% | -17.52% | 16.83% | 12.47% | -57.63% | 110.89% | 79.45% | -11.2% | 57.39% | 18.28% | 3725.7% | -101.58% | -43.57% | 3.4% | 17.77% | 22.38% | -3.49% | 25.32% | 3.86% | 15.37% | 15.96% | 44.6% | 42.67% | 16.12% | 42.2% |
| Funds From Operations (FFO) | 1.23B | 1.2B | 1.01B | 1.16B | 613.88M | 1.24B | 1.26B | 688.48M | 808.17M | 786.89M | 734.17M | 1.24B | 697.09M | 494.14M | 528.82M | 420.19M | 390.56M | 223.83M | 456.42M | 634.1M | 573.03M | 471.67M | 400.01M | 396.95M | 322.34M | 310.75M | 270M | 244.2M | 173.57M | 115.75M | 100.9M |
| FFO Margin % | 57.09% | 56.25% | 49.8% | 65.13% | 35.53% | 90.82% | 119.49% | 59.41% | 69.39% | 65.53% | 62.71% | 106.17% | 70.14% | 52.2% | 57.34% | 45.86% | 45.97% | 26.51% | 60.16% | 93.04% | 96.49% | 90.26% | 77.38% | 82.76% | 71.5% | 66.31% | 58.77% | 56.28% | 51.23% | 58.19% | 60.01% |
| FFO Growth % | 26.79% | 18.67% | -12.66% | 89.21% | -50.47% | -1.95% | 83.6% | -14.81% | 2.71% | 7.18% | -40.73% | 77.7% | 41.07% | -6.56% | 25.85% | 7.59% | 74.49% | -50.96% | -28.02% | 10.66% | 21.49% | 17.91% | 0.77% | 23.14% | 3.73% | 15.09% | 10.57% | 40.7% | 49.95% | 14.72% | 29.19% |
| FFO per Share | 1.83 | 1.79 | 1.51 | 1.88 | 0.99 | 2.42 | 2.93 | 1.63 | 1.92 | 1.86 | 1.75 | 3.00 | 1.70 | 1.21 | 1.30 | 1.03 | 0.96 | 0.64 | 1.76 | 2.47 | 2.34 | 2.04 | 1.76 | 1.82 | 1.39 | 1.39 | 1.45 | 1.34 | 0.77 | 0.80 | 0.94 |
| FFO Payout Ratio % | 43.53% | 59.36% | 67.61% | 56.6% | 88.74% | 30.83% | 30.05% | 77.21% | 65.55% | 64.33% | 64.57% | 36.8% | 61.38% | 81.02% | 72.37% | 84.19% | 78.6% | 147.89% | 102.76% | 60.64% | 58.03% | 62.19% | 66.31% | 62.05% | 73.09% | 67.51% | 70.33% | 69.49% | 65.62% | 71.36% | 69.18% |
| EPS (Diluted) | 0.92 | 0.83 | 0.55 | 1.02 | 0.16 | 1.60 | 2.25 | 0.75 | 1.18 | 0.87 | 0.79 | 2.00 | 0.89 | 0.43 | 0.42 | 0.27 | 0.22 | -0.01 | 0.78 | 1.65 | 1.70 | 1.52 | 1.15 | 0.97 | 0.98 | 0.95 | 0.84 | 0.74 | 0.66 | 0.59 | 0.54 |
| EPS Growth % | 14.29% | 50.91% | -46.08% | 537.5% | -90% | -28.89% | 200% | -36.44% | 35.63% | 10.13% | -60.5% | 124.72% | 106.98% | 2.38% | 55.56% | 22.73% | 2046.9% | -101.45% | -52.73% | -2.94% | 11.84% | 32.17% | 18.56% | -1.02% | 3.16% | 13.1% | 13.51% | 12.12% | 11.86% | 9.26% | 22.73% |
| EPS (Basic) | - | 0.83 | 0.55 | 1.02 | 0.16 | 1.61 | 2.26 | 0.75 | 1.18 | 0.87 | 0.79 | 2.01 | 0.89 | 0.43 | 0.42 | 0.27 | 0.22 | -0.01 | 0.79 | 1.68 | 1.74 | 1.55 | 1.17 | 0.99 | 0.99 | 0.97 | 0.85 | 0.74 | 0.66 | 0.60 | 0.54 |
| Diluted Shares Outstanding | 672.77M | 674.15M | 672.14M | 618.2M | 617.86M | 511.38M | 431.63M | 421.8M | 421.38M | 424.02M | 419.71M | 412.85M | 411.04M | 408.61M | 406.69M | 407.67M | 406.2M | 350.08M | 258.84M | 257.06M | 244.62M | 230.87M | 227.14M | 217.54M | 231.87M | 223.14M | 185.96M | 182.1M | 224.31M | 144.37M | 107.46M |
Mixed-use development execution risk
According to reported quarterly figures, Kimco achieved a 4.0% year-over-year revenue increase in 2026Q1, suggesting that the company's focus on grocery-anchored assets continues to provide a reliable foundation for top-line expansion despite broader macroeconomic headwinds impacting the retail sector's overall growth trajectory.
The consistent revenue growth appears to be supported by the company's ability to maintain high occupancy levels across its first-ring suburban portfolio. Investors should monitor whether this growth remains sustainable as the company pivots toward more complex mixed-use developments, which carry different risk profiles than traditional retail leasing.
Based on the provided financial data, 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 stability of these margins suggests that the triple-net lease structure is successfully insulating the company from rising variable operating costs. However, any future compression in these margins may indicate that the company is absorbing more non-reimbursable costs, which warrants further investigation into lease renewal terms.
As reported in financial statements, Kimco delivered FFO of $321.4 million in 2026Q1, representing a 10.3% growth rate that highlights the company's ability to generate consistent cash flow for shareholders while navigating the integration of significant acquisitions like the Weingarten Realty portfolio.
The FFO per share trajectory appears to be on a positive path, suggesting that management's capital allocation strategy is effectively creating value. Analysts should remain cautious regarding the potential for future equity dilution if the company continues to fund its ambitious redevelopment pipeline through capital markets.
Based on the provided data, the significant variance between GAAP net income and FFO, such as the $164.9 million net income versus $321.4 million FFO in 2026Q1, underscores the necessity of adjusting for non-cash depreciation charges to accurately assess the company's true economic earnings power.
The reliance on FFO as a primary metric is essential, yet investors should be wary of potential distortions from straight-line rent adjustments and capitalized leasing costs. These accounting treatments may temporarily inflate earnings metrics, potentially masking the underlying cash flow volatility inherent in large-scale retail property management.
Quick answers to the most common questions about buying KIM stock.
For fiscal year 2025, Kimco Realty Corporation (KIM) reported total revenue of $2.14B. This represents a 1172.8% increase compared to $168.1M in 1996.
Kimco Realty Corporation (KIM) is profitable, generating $584.1M in net income for the fiscal year ending 2025 with a net profit margin of 27.3%.
Kimco Realty Corporation (KIM) reported an operating income of $752.6M, resulting in an operating profit margin of 35.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Kimco Realty Corporation (KIM) generated $1.17B in gross profit for the year, representing a gross profit margin of 54.7%. This demonstrates the company's core pricing power and production efficiency.