A Business at a Glance
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KIMCO REALTY CORP
KIM
$17.6B
Mkt Cap
$26.10
+1.40%
KIMCO REALTY CORP (KIM) has a current P/E ratio of 31.8, compared to its historical median P/E of 19.5. The stock is currently considered Expensive based on its historical valuation range.
KIMCO REALTY CORP (KIM) has a 5-year average return on invested capital (ROIC) of 3.4%. This is below average and may indicate limited pricing power.
KIMCO REALTY CORP (KIM) has a market capitalization of $17.6B. It is classified as a large-cap stock.
Yes, KIMCO REALTY CORP (KIM) pays a dividend with a trailing twelve-month yield of 4.07%. The company also returns capital through share buybacks, with a buyback yield of 0.67%.
Based on historical P/E analysis, KIMCO REALTY CORP (KIM) appears expensive. The current P/E of 31.8 is 63% above its historical median of 19.5. The estimated fair value CAGR (P/E method) is -10.6%.
KIMCO REALTY CORP (KIM) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
KIMCO REALTY CORP (KIM) reported annual revenue of $2.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Kimco Realty is the leading owner and operator of open-air, grocery-anchored shopping centers and mixed-use properties in the United States, with interests in 565 shopping center properties aggregating 100.2 million square feet of gross leasable area located in 29 states as of December 31, 2025. The company operates a self-administered REIT business model generating revenue primarily through base rental income from necessity-based tenants including grocery stores, home improvement centers, off-price retailers, and service-oriented businesses, supplemented by percentage rent, lease termination income, and management fees from institutional joint venture programs where it earns acquisition, disposition, and management fees plus promoted interests. The company's portfolio is concentrated in high-barrier-to-entry, first-ring suburbs within 19 major metropolitan Sun Belt and coastal markets, with 82% of annualized base rental revenues derived from these top markets, providing geographic and tenant diversification with no single property representing more than 1.2% of annualized base rental revenues and the five largest tenants aggregating only 10.9%. Kimco differentiates itself through its platform capabilities including disciplined capital allocation, active asset management and leasing execution, redevelopment expertise with 14,196 multifamily entitlements of which 3,505 units have been constructed, and structured investment programs providing preferred equity and real estate financing to retail professionals. The company maintains a strong balance sheet with investment-grade unsecured debt ratings (A-/A-/A3), a 7.9-year weighted average debt maturity profile, and over 525 unencumbered properties representing approximately 91% of its portfolio, positioning it to fund growth through acquisitions, redevelopments, and share repurchases while maintaining conservative payout ratios.
【Accelerating rent commencements ahead】 Management expects same-site NOI growth to accelerate each quarter through the remainder of 2026 as rents commence from the signed-but-not-open pipeline, with approximately 60% of the current SNO pipeline projected to commence in 2026 representing roughly $24 million in incremental rent. The company anticipates continued strong leasing momentum supported by steady tenant demand, limited new supply, and a tenant credit profile described as the strongest in several years, with retention rates expected to remain around 90% and potential for occupancy to move higher than 2025 year-end levels. Capital recycling through dispositions at 5%-6% cap rates is expected to accelerate in 2026 with proceeds redeployed into acquisitions at approximately 100 basis points higher yields, creating a higher-growth portfolio; the company also plans modest expansion of its structured investment book with net growth of approximately $100 million at a blended average yield around 9%. Refinancing activity in 2026, with the majority of maturities falling in the second half of the year, is characterized as a known headwind already reflected in guidance, and the company expects to maintain its strong balance sheet and debt metrics while continuing to generate approximately $150 million of annual free cash flow after dividend payments and leasing costs.
| Metric | Target | Period |
|---|---|---|
| FFO per diluted share | $1.81–$1.84 | FY2026 |
| Same-site NOI growth | 2.8%–3.5% | FY2026 |
| Credit loss | 65–90 basis points | FY2026 |
FFO per diluted share (FY2026): “we are tightening our full year 2026 FFO outlook to a new range of $1.81-$1.84 per diluted share from the previous range of $1.80-$1.84 per diluted share”
Same-site NOI growth (FY2026): “we've raised the full year outlook range for same-site NOI growth to a new range of 2.8%-3.5%”
Credit loss (FY2026): “we are tightening our full year credit loss assumption to a new range of 65-90 basis points compared to the previous range of 75-100 basis points”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.2B | 2.1B | 2.0B | 1.8B | 1.7B | 1.4B |
| Net Income | 587M | 554M | 376M | 629M | 101M | 819M |
| EPS | $0.87 | $0.82 | $0.55 | $1.02 | $0.16 | $1.60 |
| Free Cash Flow | 0 | 1.1B | 1.0B | 795M | 561M | 261M |
| ROIC | 7.5% | 4.3% | 3.5% | 3.7% | 2.2% | 3.4% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.04 | 0.74 | 0.75 | 0.76 | 0.71 | 0.71 |
| Dividends/Share | $1.06 | $1.01 | $0.97 | $1.02 | $0.84 | $0.68 |
| Operating Income | 798M | 771M | 629M | 639M | 565M | 424M |
| Operating Margin | 36.9% | 36.0% | 30.9% | 35.8% | 32.7% | 31.1% |
| ROE | 5.6% | 5.3% | 3.7% | 6.6% | 1.0% | 10.6% |
| Shares Outstanding | 674M | 676M | 683M | 617M | 630M | 512M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 994M | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B | 1.1B | 1.4B | 1.7B | 1.8B | 2.0B | 2.1B | 2.2B |
| Gross Margin | 43.1% | 43.8% | 37.6% | 43.6% | 72.4% | 50.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 122M | 123M | 87M | 92M | 88M | 97M | 93M | 104M | 120M | 137M | 138M | 133M | 136M |
| EBIT | 310M | 344M | 394M | 431M | 582M | 478M | 333M | 424M | 565M | 639M | 629M | 771M | 798M |
| Op. Margin | 31.2% | 29.4% | 33.6% | 35.9% | 50.0% | 41.2% | 31.4% | 31.1% | 32.7% | 35.8% | 30.9% | 36.0% | 36.9% |
| Net Income | 366M | 831M | 333M | 372M | 440M | 340M | 975M | 819M | 101M | 629M | 376M | 554M | 587M |
| Net Margin | 36.8% | 71.2% | 28.4% | 31.0% | 37.7% | 29.3% | 92.2% | 60.0% | 5.8% | 35.3% | 18.4% | 25.9% | 27.1% |
| Non-Recurring | 218M | 45M | 93M | 67M | 79M | 49M | 6.6M | 3.6M | 22M | 14M | 4.5M | 9.5M | 9.5M |
| Returns on Capital | |||||||||||||
| ROIC | 4.8% | 3.2% | 2.7% | 4.6% | 6.0% | 4.9% | 3.4% | 3.4% | 2.2% | 3.7% | 3.5% | 4.3% | 7.5% |
| ROE | 7.8% | 16.9% | 6.5% | 7.0% | 8.2% | 6.7% | 18.6% | 10.6% | 1.0% | 6.6% | 3.7% | 5.3% | 5.6% |
| ROA | 3.7% | 7.7% | 2.9% | 3.2% | 3.9% | 3.1% | 8.6% | 5.4% | 0.6% | 3.5% | 1.9% | 2.8% | 3.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 629M | 494M | 592M | 614M | 638M | 584M | 590M | 619M | 861M | 1.1B | 1.0B | 1.1B | 1.1B |
| Free Cash Flow | 498M | 327M | 449M | 407M | 347M | 584M | 590M | 261M | 561M | 795M | 1.0B | 1.1B | 0 |
| Owner Earnings | 338M | 131M | 218M | 232M | 309M | 286M | 277M | 200M | 329M | 531M | 367M | 460M | 475M |
| CapEx | 132M | 167M | 143M | 207M | 291M | 0 | 0 | 358M | 300M | 277M | 0 | 18M | 0 |
| Maint. CapEx | 273M | 345M | 355M | 361M | 310M | 278M | 289M | 395M | 505M | 507M | 604M | 627M | 625M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | N/A | N/A | 0 | 0 | 0 | N/A | 0 | 0 |
| D&A | 273M | 345M | 355M | 361M | 310M | 278M | 289M | 395M | 505M | 507M | 604M | 627M | 625M |
| CapEx/OCF | 20.9% | 33.8% | 24.2% | 33.7% | 0.7% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 428M | 456M | 474M | 506M | 530M | 532M | 380M | 382M | 545M | 657M | 683M | 712M | 717M |
| Dividend Yield | 7.9% | 7.2% | 6.4% | 8.8% | 11.2% | 9.0% | 8.3% | 4.4% | 4.6% | 6.2% | 5.0% | 5.1% | 4.1% |
| Share Buybacks | 0 | 0 | 0 | 0 | 75M | 0 | 0 | 0 | 3.4M | 0 | 0 | 120M | 118M |
| Buyback Yield | N/A | N/A | N/A | N/A | 1.6% | N/A | N/A | N/A | N/A | N/A | N/A | 0.9% | 0.7% |
| Stock-Based Comp | 18M | 18M | 19M | 22M | 18M | 20M | 24M | 23M | 27M | 33M | 35M | 33M | 39M |
| Debt Repayment | 0 | 0 | 46M | 2.6M | 13M | 1.5M | 7.5M | 0 | 7.0M | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 3.0B | 3.6B | 3.8B | 4.4B | 4.3B | 4.9B | 4.0B | 5.5B | 6.0B | 6.2B | 7.3B | 7.5B | 296M |
| Cash & Equiv. | 187M | 190M | 142M | 239M | 144M | 124M | 293M | 326M | 147M | 781M | 689M | 212M | 169M |
| Long-Term Debt | 3.2B | 3.8B | 3.9B | 4.6B | 4.4B | 4.8B | 5.0B | 7.0B | 6.8B | 7.3B | 8.0B | 7.7B | 3.1M |
| Debt/Equity | 0.69 | 0.75 | 0.75 | 0.85 | 0.84 | 1.03 | 0.90 | 0.71 | 0.71 | 0.76 | 0.75 | 0.74 | 0.04 |
| Interest Coverage | 1.5 | 1.6 | 2.0 | 2.2 | 3.2 | 2.7 | 1.8 | 2.1 | 2.5 | 2.6 | 2.0 | 2.3 | 2.4 |
| Equity | 4.8B | 5.0B | 5.3B | 5.4B | 5.3B | 4.9B | 5.6B | 9.9B | 9.5B | 9.5B | 10.7B | 10.4B | 10.4B |
| Total Assets | 10.3B | 11.3B | 11.2B | 11.8B | 11.0B | 11.0B | 11.6B | 18.5B | 17.8B | 18.3B | 20.3B | 19.7B | 19.6B |
| Total Liabilities | 5.3B | 6.1B | 5.7B | 6.2B | 5.6B | 6.1B | 5.9B | 8.3B | 8.1B | 8.5B | 9.5B | 9.1B | 9.0B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.2B | 1.2B | 1.2B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 299M | -120M | -123M | -399M | -529M | -547M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 254M |
| Per Share Data | |||||||||||||
| EPS | 0.89 | 2.00 | 0.79 | 0.87 | 1.02 | 0.80 | 2.25 | 1.60 | 0.16 | 1.02 | 0.55 | 0.82 | 0.87 |
| Owner EPS | 0.82 | 0.31 | 0.52 | 0.54 | 0.72 | 0.67 | 0.64 | 0.39 | 0.52 | 0.86 | 0.54 | 0.68 | 0.70 |
| Book Value | 11.62 | 12.14 | 12.48 | 12.60 | 12.38 | 11.45 | 12.94 | 19.35 | 15.11 | 15.44 | 15.59 | 15.37 | 15.40 |
| Cash Flow/Share | 1.53 | 1.19 | 1.41 | 1.43 | 1.48 | 1.37 | 1.36 | 1.21 | 1.37 | 1.74 | 1.47 | 1.66 | 1.80 |
| Dividends/Share | 0.92 | 0.98 | 1.04 | 1.09 | 1.12 | 1.12 | 0.88 | 0.68 | 0.84 | 1.02 | 0.97 | 1.01 | 1.06 |
| Shares Out. | 410.9M | 415.6M | 421.1M | 428.1M | 431.0M | 425.0M | 433.5M | 511.7M | 629.7M | 616.9M | 683.1M | 676.1M | 674.4M |
| Valuation | |||||||||||||
| P/E Ratio | 17.0 | 8.1 | 19.8 | 14.0 | 10.5 | 19.7 | 5.3 | 12.5 | 112.8 | 19.5 | 40.5 | 24.8 | 30.1 |
| P/FCF | 12.5 | 20.7 | 14.6 | 12.8 | 13.3 | 11.5 | 8.7 | 39.3 | 20.3 | 15.4 | 15.1 | 12.5 | N/A |
| EV/EBIT | 29.3 | 30.0 | 34.4 | 22.2 | 14.9 | 23.9 | 27.6 | 37.1 | 30.8 | 28.8 | 35.8 | 27.6 | 22.4 |
| Price/Book | 1.3 | 1.3 | 1.3 | 1.0 | 0.9 | 1.4 | 0.9 | 1.0 | 1.2 | 1.3 | 1.4 | 1.3 | 1.7 |
| Price/Sales | 5.4 | 5.4 | 6.3 | 4.8 | 4.1 | 5.1 | 4.3 | 6.3 | 6.9 | 5.9 | 6.6 | 6.5 | 8.1 |
| FCF Yield | 8.0% | 4.8% | 6.8% | 7.8% | 7.5% | 8.7% | 11.5% | 2.5% | 4.9% | 6.5% | 6.6% | 8.0% | N/A |
| Market Cap | 6.2B | 6.8B | 6.6B | 5.2B | 4.6B | 6.7B | 5.1B | 10.3B | 11.4B | 12.3B | 15.2B | 13.8B | 17.6B |
| Avg. Price | 13.18 | 15.19 | 17.56 | 13.36 | 10.95 | 13.97 | 10.51 | 16.90 | 18.87 | 17.17 | 19.80 | 20.72 | 26.10 |
| Year-End Price | 15.11 | 16.25 | 15.61 | 12.22 | 10.69 | 15.75 | 11.87 | 20.07 | 18.06 | 19.87 | 22.28 | 20.36 | 26.10 |
KIMCO REALTY CORP passes 2 of 9 quality checks, indicating weak fundamentals.
KIMCO REALTY CORP trades at 31.8x trailing earnings, compared to its 15-year median P/E of 19.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 15.8x vs a median of 14.0x. The company's 5-year average ROIC is 3.4%. Total shareholder yield (dividends + buybacks) is 4.7%. At current prices, the estimated annualized return to fair value is +3.0%.
KIMCO REALTY CORP (KIM) has a net profit margin of 25.9%. This is a strong margin indicating high profitability.
KIMCO REALTY CORP (KIM) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
KIMCO REALTY CORP (KIM) has a debt-to-equity ratio of 0.74. This indicates moderate leverage.
KIMCO REALTY CORP (KIM) reported earnings per share (EPS) of $0.82 in its most recent fiscal year.
KIMCO REALTY CORP (KIM) has a return on equity (ROE) of 5.3%. This indicates moderate shareholder returns.
The Ledger Terminal provides 19 years of financial data for KIMCO REALTY CORP (KIM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
KIMCO REALTY CORP (KIM) has a book value per share of $15.37, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects same-site NOI growth to accelerate each quarter through the remainder of 2026 as rents commence from the signed-but-not-open pipeline, with approximately 60% of the current SNO pipeline projected to commence in 2026 representing roughly $24 million in incremental rent. The company anticipates continued strong leasing momentum supported by steady tenant demand, limited new supply, and a tenant credit profile described as the strongest in several years, with retention rates expected to remain around 90% and potential for occupancy to move higher than 2025 year-end levels. Capital recycling through dispositions at 5%-6% cap rates is expected to accelerate in 2026 with proceeds redeployed into acquisitions at approximately 100 basis points higher yields, creating a higher-growth portfolio; the company also plans modest expansion of its structured investment book with net growth of approximately $100 million at a blended average yield around 9%. Refinancing activity in 2026, with the majority of maturities falling in the second half of the year, is characterized as a known headwind already reflected in guidance, and the company expects to maintain its strong balance sheet and debt metrics while continuing to generate approximately $150 million of annual free cash flow after dividend payments and leasing costs.
Based on recent SEC filings and earnings calls, KIMCO REALTY CORP (KIM) has provided the following forward guidance: FFO per diluted share: $1.81–$1.84 (FY2026); Same-site NOI growth: 2.8%–3.5% (FY2026); Credit loss: 65–90 basis points (FY2026).