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Side-by-side financial comparison of KILROY REALTY CORP (KRC) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
KILROY REALTY CORP is the larger business by last-quarter revenue ($272.2M vs $143.3M, roughly 1.9× Piedmont Realty Trust, Inc.). KILROY REALTY CORP runs the higher net margin — 6.3% vs -31.4%, a 37.7% gap on every dollar of revenue. On growth, Piedmont Realty Trust, Inc. posted the faster year-over-year revenue change (0.4% vs -5.0%). Over the past eight quarters, Piedmont Realty Trust, Inc.'s revenue compounded faster (0.0% 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.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
KRC vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $272.2M | $143.3M |
| Net Profit | $17.1M | $-45.0M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 6.3% | -31.4% |
| Revenue YoY | -5.0% | 0.4% |
| Net Profit YoY | -73.7% | -27.9% |
| EPS (diluted) | $0.11 | $-0.10 |
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.
| Q1 26 | — | $143.3M | ||
| Q4 25 | $272.2M | $142.9M | ||
| Q3 25 | $279.7M | $139.2M | ||
| Q2 25 | $289.9M | $140.3M | ||
| Q1 25 | $270.8M | $142.7M | ||
| Q4 24 | $286.4M | $143.2M | ||
| Q3 24 | $289.9M | $139.3M | ||
| Q2 24 | $280.7M | $143.3M |
| Q1 26 | — | $-45.0M | ||
| Q4 25 | $17.1M | $-43.2M | ||
| Q3 25 | $162.3M | $-13.5M | ||
| Q2 25 | $79.6M | $-16.8M | ||
| Q1 25 | $43.7M | $-10.1M | ||
| Q4 24 | $65.0M | $-30.0M | ||
| Q3 24 | $57.7M | $-11.5M | ||
| Q2 24 | $54.5M | $-9.8M |
| Q1 26 | — | -31.4% | ||
| Q4 25 | 6.3% | -30.3% | ||
| Q3 25 | 58.0% | -9.7% | ||
| Q2 25 | 27.4% | -12.0% | ||
| Q1 25 | 16.1% | -7.1% | ||
| Q4 24 | 22.7% | -20.9% | ||
| Q3 24 | 19.9% | -8.3% | ||
| Q2 24 | 19.4% | -6.8% |
| Q1 26 | — | $-0.10 | ||
| Q4 25 | $0.11 | $-0.34 | ||
| Q3 25 | $1.31 | $-0.11 | ||
| Q2 25 | $0.57 | $-0.14 | ||
| Q1 25 | $0.33 | $-0.08 | ||
| Q4 24 | $0.50 | $-0.25 | ||
| Q3 24 | $0.44 | $-0.09 | ||
| Q2 24 | $0.41 | $-0.08 |
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 | $2.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.4B | $1.5B |
| Total Assets | $10.9B | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.3M | ||
| Q4 25 | $179.3M | $731.0K | ||
| Q3 25 | $372.4M | $3.0M | ||
| Q2 25 | $193.1M | $3.3M | ||
| Q1 25 | $146.7M | $2.9M | ||
| Q4 24 | $165.7M | $109.6M | ||
| Q3 24 | $625.4M | $133.6M | ||
| Q2 24 | $835.9M | $138.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.2B |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $5.4B | $1.5B | ||
| Q3 25 | $5.5B | $1.5B | ||
| Q2 25 | $5.4B | $1.5B | ||
| Q1 25 | $5.4B | $1.6B | ||
| Q4 24 | $5.4B | $1.6B | ||
| Q3 24 | $5.4B | $1.6B | ||
| Q2 24 | $5.4B | $1.7B |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $10.9B | $4.0B | ||
| Q3 25 | $11.0B | $4.0B | ||
| Q2 25 | $10.9B | $4.0B | ||
| Q1 25 | $10.9B | $4.0B | ||
| Q4 24 | $10.9B | $4.1B | ||
| Q3 24 | $11.4B | $4.1B | ||
| Q2 24 | $11.5B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.49× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.34× |
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 | — |
| Free Cash FlowOCF − Capex | $450.3M | — |
| FCF MarginFCF / Revenue | 165.4% | — |
| Capex IntensityCapex / Revenue | 42.6% | 110.3% |
| Cash ConversionOCF / Net Profit | 33.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $833.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $566.3M | $140.6M | ||
| Q3 25 | $176.6M | $35.8M | ||
| Q2 25 | $143.7M | $50.1M | ||
| Q1 25 | $136.9M | $3.7M | ||
| Q4 24 | $541.1M | $198.1M | ||
| Q3 24 | $176.3M | $42.9M | ||
| Q2 24 | $88.7M | $66.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | 110.3% | ||
| 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 26 | — | — | ||
| Q4 25 | 33.10× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.81× | — | ||
| Q1 25 | 3.13× | — | ||
| Q4 24 | 8.32× | — | ||
| Q3 24 | 3.06× | — | ||
| Q2 24 | 1.63× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
