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Side-by-side financial comparison of JBG SMITH Properties (JBGS) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $120.6M, roughly 1.1× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs -35.7%, a 83.8% gap on every dollar of revenue. On growth, JBG SMITH Properties posted the faster year-over-year revenue change (-2.5% vs -11.0%). Over the past eight quarters, Kennedy-Wilson Holdings, Inc.'s revenue compounded faster (-6.0% CAGR vs -6.3%).
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
JBGS vs KW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.6M | $120.6M |
| Net Profit | $-45.5M | $58.0M |
| Gross Margin | — | — |
| Operating Margin | -47.5% | 57.3% |
| Net Margin | -35.7% | 48.1% |
| Revenue YoY | -2.5% | -11.0% |
| Net Profit YoY | 24.0% | 32.7% |
| EPS (diluted) | $-0.76 | $0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $127.6M | $120.6M | ||
| Q3 25 | $123.9M | $116.4M | ||
| Q2 25 | $126.5M | $135.7M | ||
| Q1 25 | $120.7M | $128.3M | ||
| Q4 24 | $130.8M | $135.5M | ||
| Q3 24 | $136.0M | $127.5M | ||
| Q2 24 | $135.3M | $132.0M | ||
| Q1 24 | $145.2M | $136.4M |
| Q4 25 | $-45.5M | $58.0M | ||
| Q3 25 | $-28.6M | $-10.2M | ||
| Q2 25 | $-19.2M | $5.6M | ||
| Q1 25 | $-45.7M | $-29.6M | ||
| Q4 24 | $-59.9M | $43.7M | ||
| Q3 24 | $-27.0M | $-66.8M | ||
| Q2 24 | $-24.4M | $-48.3M | ||
| Q1 24 | $-32.3M | $37.7M |
| Q4 25 | -47.5% | 57.3% | ||
| Q3 25 | -27.5% | -6.2% | ||
| Q2 25 | -18.4% | 7.4% | ||
| Q1 25 | -44.7% | -26.9% | ||
| Q4 24 | -53.6% | 36.7% | ||
| Q3 24 | -22.4% | -60.8% | ||
| Q2 24 | -24.3% | -45.5% | ||
| Q1 24 | -30.1% | 47.2% |
| Q4 25 | -35.7% | 48.1% | ||
| Q3 25 | -23.1% | -8.8% | ||
| Q2 25 | -15.2% | 4.1% | ||
| Q1 25 | -37.9% | -23.1% | ||
| Q4 24 | -45.8% | 32.3% | ||
| Q3 24 | -19.8% | -52.4% | ||
| Q2 24 | -18.0% | -36.6% | ||
| Q1 24 | -22.2% | 27.6% |
| Q4 25 | $-0.76 | $0.22 | ||
| Q3 25 | $-0.48 | $-0.15 | ||
| Q2 25 | $-0.29 | $-0.05 | ||
| Q1 25 | $-0.56 | $-0.30 | ||
| Q4 24 | $-0.70 | $0.24 | ||
| Q3 24 | $-0.32 | $-0.56 | ||
| Q2 24 | $-0.27 | $-0.43 | ||
| Q1 24 | $-0.36 | $0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.3M | $184.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $1.5B |
| Total Assets | $4.4B | $6.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.3M | $184.5M | ||
| Q3 25 | $64.4M | $382.6M | ||
| Q2 25 | $61.4M | $309.1M | ||
| Q1 25 | $81.3M | $356.6M | ||
| Q4 24 | $145.8M | $217.5M | ||
| Q3 24 | $137.0M | $367.1M | ||
| Q2 24 | $163.5M | $366.5M | ||
| Q1 24 | $220.5M | $541.9M |
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.6B | $1.6B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.9B | $1.6B | ||
| Q2 24 | $2.0B | $1.7B | ||
| Q1 24 | $2.1B | $1.7B |
| Q4 25 | $4.4B | $6.6B | ||
| Q3 25 | $4.4B | $6.7B | ||
| Q2 25 | $4.5B | $6.8B | ||
| Q1 25 | $4.7B | $7.2B | ||
| Q4 24 | $5.0B | $7.0B | ||
| Q3 24 | $5.2B | $7.4B | ||
| Q2 24 | $5.3B | $7.5B | ||
| Q1 24 | $5.4B | $7.7B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $73.3M | $11.4M |
| Free Cash FlowOCF − Capex | — | $-55.2M |
| FCF MarginFCF / Revenue | — | -45.8% |
| Capex IntensityCapex / Revenue | — | 55.2% |
| Cash ConversionOCF / Net Profit | — | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.3M | $11.4M | ||
| Q3 25 | $8.9M | $-7.6M | ||
| Q2 25 | $18.8M | $42.0M | ||
| Q1 25 | $12.9M | $-51.9M | ||
| Q4 24 | $129.4M | $55.1M | ||
| Q3 24 | $26.4M | $-5.6M | ||
| Q2 24 | $23.8M | $36.7M | ||
| Q1 24 | $37.0M | $-5.6M |
| Q4 25 | — | $-55.2M | ||
| Q3 25 | — | $-18.0M | ||
| Q2 25 | — | $29.4M | ||
| Q1 25 | — | $-59.7M | ||
| Q4 24 | — | $-76.5M | ||
| Q3 24 | — | $-27.7M | ||
| Q2 24 | — | $-500.0K | ||
| Q1 24 | — | $-57.1M |
| Q4 25 | — | -45.8% | ||
| Q3 25 | — | -15.5% | ||
| Q2 25 | — | 21.7% | ||
| Q1 25 | — | -46.5% | ||
| Q4 24 | — | -56.5% | ||
| Q3 24 | — | -21.7% | ||
| Q2 24 | — | -0.4% | ||
| Q1 24 | — | -41.9% |
| Q4 25 | — | 55.2% | ||
| Q3 25 | — | 8.9% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 97.1% | ||
| Q3 24 | — | 17.3% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | — | 37.8% |
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 7.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JBGS
Segment breakdown not available.
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
