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Side-by-side financial comparison of KILROY REALTY CORP (KRC) and NNN REIT, INC. (NNN). Click either name above to swap in a different company.
KILROY REALTY CORP is the larger business by last-quarter revenue ($272.2M vs $238.4M, roughly 1.1× NNN REIT, INC.). NNN REIT, INC. runs the higher net margin — 40.2% vs 6.3%, a 34.0% gap on every dollar of revenue. On growth, NNN REIT, INC. posted the faster year-over-year revenue change (9.1% vs -5.0%). Over the past eight quarters, NNN REIT, INC.'s revenue compounded faster (5.2% CAGR vs -1.2%).
Kilroy Realty Corp is a leading U.S. real estate investment trust that develops, owns, and operates premium office, life science, and mixed-use properties primarily across high-growth West Coast markets including Los Angeles, San Francisco, Seattle, and San Diego. It serves tenants across the technology, life sciences, media, and creative sectors, with a core focus on delivering sustainable, future-ready workspaces tailored to modern business needs.
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
KRC vs NNN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $272.2M | $238.4M |
| Net Profit | $17.1M | $96.0M |
| Gross Margin | — | — |
| Operating Margin | — | 62.3% |
| Net Margin | 6.3% | 40.2% |
| Revenue YoY | -5.0% | 9.1% |
| Net Profit YoY | -73.7% | -2.0% |
| EPS (diluted) | $0.11 | $0.51 |
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 | $272.2M | $238.4M | ||
| Q3 25 | $279.7M | $230.2M | ||
| Q2 25 | $289.9M | $226.8M | ||
| Q1 25 | $270.8M | $230.9M | ||
| Q4 24 | $286.4M | $218.5M | ||
| Q3 24 | $289.9M | $218.6M | ||
| Q2 24 | $280.7M | $216.8M | ||
| Q1 24 | $278.6M | $215.4M |
| Q4 25 | $17.1M | $96.0M | ||
| Q3 25 | $162.3M | $96.8M | ||
| Q2 25 | $79.6M | $100.5M | ||
| Q1 25 | $43.7M | $96.5M | ||
| Q4 24 | $65.0M | $97.9M | ||
| Q3 24 | $57.7M | $97.9M | ||
| Q2 24 | $54.5M | $106.7M | ||
| Q1 24 | $55.7M | $94.4M |
| Q4 25 | — | 62.3% | ||
| Q3 25 | — | 64.0% | ||
| Q2 25 | — | 66.0% | ||
| Q1 25 | — | 62.3% | ||
| Q4 24 | — | 65.8% | ||
| Q3 24 | — | 65.7% | ||
| Q2 24 | — | 70.2% | ||
| Q1 24 | — | 64.2% |
| Q4 25 | 6.3% | 40.2% | ||
| Q3 25 | 58.0% | 42.1% | ||
| Q2 25 | 27.4% | 44.3% | ||
| Q1 25 | 16.1% | 41.8% | ||
| Q4 24 | 22.7% | 44.8% | ||
| Q3 24 | 19.9% | 44.8% | ||
| Q2 24 | 19.4% | 49.2% | ||
| Q1 24 | 20.0% | 43.8% |
| Q4 25 | $0.11 | $0.51 | ||
| Q3 25 | $1.31 | $0.51 | ||
| Q2 25 | $0.57 | $0.54 | ||
| Q1 25 | $0.33 | $0.51 | ||
| Q4 24 | $0.50 | $0.52 | ||
| Q3 24 | $0.44 | $0.53 | ||
| Q2 24 | $0.41 | $0.58 | ||
| Q1 24 | $0.42 | $0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $179.3M | $5.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.4B | $4.4B |
| Total Assets | $10.9B | $9.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $179.3M | $5.0M | ||
| Q3 25 | $372.4M | $157.9M | ||
| Q2 25 | $193.1M | $6.0M | ||
| Q1 25 | $146.7M | $5.1M | ||
| Q4 24 | $165.7M | $8.7M | ||
| Q3 24 | $625.4M | $173.5M | ||
| Q2 24 | $835.9M | $2.1M | ||
| Q1 24 | $855.0M | $1.1M |
| Q4 25 | $5.4B | $4.4B | ||
| Q3 25 | $5.5B | $4.4B | ||
| Q2 25 | $5.4B | $4.4B | ||
| Q1 25 | $5.4B | $4.4B | ||
| Q4 24 | $5.4B | $4.4B | ||
| Q3 24 | $5.4B | $4.4B | ||
| Q2 24 | $5.4B | $4.2B | ||
| Q1 24 | $5.4B | $4.2B |
| Q4 25 | $10.9B | $9.4B | ||
| Q3 25 | $11.0B | $9.5B | ||
| Q2 25 | $10.9B | $9.1B | ||
| Q1 25 | $10.9B | $9.0B | ||
| Q4 24 | $10.9B | $8.9B | ||
| Q3 24 | $11.4B | $8.9B | ||
| Q2 24 | $11.5B | $8.7B | ||
| Q1 24 | $11.6B | $8.7B |
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 | $566.3M | $667.1M |
| Free Cash FlowOCF − Capex | $450.3M | — |
| FCF MarginFCF / Revenue | 165.4% | — |
| Capex IntensityCapex / Revenue | 42.6% | — |
| Cash ConversionOCF / Net Profit | 33.10× | 6.95× |
| TTM Free Cash FlowTrailing 4 quarters | $833.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $566.3M | $667.1M | ||
| Q3 25 | $176.6M | $218.3M | ||
| Q2 25 | $143.7M | $119.4M | ||
| Q1 25 | $136.9M | $203.3M | ||
| Q4 24 | $541.1M | $635.5M | ||
| Q3 24 | $176.3M | $206.6M | ||
| Q2 24 | $88.7M | $120.5M | ||
| Q1 24 | $167.9M | $190.7M |
| Q4 25 | $450.3M | — | ||
| Q3 25 | $148.7M | — | ||
| Q2 25 | $118.4M | — | ||
| Q1 25 | $115.6M | — | ||
| Q4 24 | $440.8M | — | ||
| Q3 24 | $147.2M | — | ||
| Q2 24 | $69.5M | — | ||
| Q1 24 | $151.9M | — |
| Q4 25 | 165.4% | — | ||
| Q3 25 | 53.1% | — | ||
| Q2 25 | 40.9% | — | ||
| Q1 25 | 42.7% | — | ||
| Q4 24 | 153.9% | — | ||
| Q3 24 | 50.8% | — | ||
| Q2 24 | 24.7% | — | ||
| Q1 24 | 54.5% | — |
| Q4 25 | 42.6% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 35.0% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 6.8% | — | ||
| Q1 24 | 5.7% | — |
| Q4 25 | 33.10× | 6.95× | ||
| Q3 25 | 1.09× | 2.25× | ||
| Q2 25 | 1.81× | 1.19× | ||
| Q1 25 | 3.13× | 2.11× | ||
| Q4 24 | 8.32× | 6.49× | ||
| Q3 24 | 3.06× | 2.11× | ||
| Q2 24 | 1.63× | 1.13× | ||
| Q1 24 | 3.01× | 2.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
