(KIM) Kimco Realty - Overview
Sector: Real Estate | Industry: REIT - Retail | Exchange: NYSE (USA) | Market Cap: 15.565m USD | Total Return: 12.7% in 12m
Industry Rotation: -2.2
Avg Turnover: 102M
EPS Trend: 42.3%
Qual. Beats: 0
Rev. Trend: 96.5%
Qual. Beats: 3
Warnings
Altman Z'' 0.27 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Kimco Realty Corporation (NYSE: KIM) is a real estate investment trust (REIT) specializing in open-air, grocery-anchored shopping centers and mixed-use assets. Founded in 1958 and public since 1991, the company focuses on first-ring suburban locations within major U.S. metropolitan areas, specifically targeting high-barrier coastal markets and the Sun Belt. As of late 2025, the portfolio included 565 properties totaling 100 million square feet of leasable space.
The company’s business model centers on necessity-based retail, where anchor tenants like grocery stores drive consistent consumer foot traffic regardless of economic cycles. Retail REITs like Kimco typically utilize triple-net leases, which shift property operating expenses, insurance, and taxes to the tenants, providing more predictable cash flows for shareholders. Investors can further evaluate these fundamental metrics on ValueRay.
Kimco integrates acquisitions and value-enhancing redevelopment into its growth strategy. By maintaining a tenant mix focused on essential goods and services, the firm aims to mitigate the risks associated with e-commerce competition and discretionary spending fluctuations.
- Grocery-anchored tenant mix maintains resilient cash flow during economic downturns
- Strategic Sun Belt expansion drives organic rental rate and occupancy growth
- Interest rate volatility impacts capital costs and real estate investment valuations
- Mixed-use redevelopment projects unlock incremental net operating income and asset value
- High-barrier coastal market concentration supports sustained long-term lease rate appreciation
| Net Income: 616.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 0.33 > 1.0 |
| NWC/Revenue: 15.53% < 20% (prev 30.42%; Δ -14.89% < -1%) |
| CFO/TA 0.06 > 3% & CFO 1.14b > Net Income 616.2m |
| Net Debt (8.14b) to EBITDA (1.54b): 5.28 < 3 |
| Current Ratio: 2.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (672.8m) vs 12m ago -0.67% < -2% |
| Gross Margin: 54.71% > 18% (prev 0.69%; Δ 5.40k% > 0.5%) |
| Asset Turnover: 11.00% > 50% (prev 10.49%; Δ 0.50% > 0%) |
| Interest Coverage Ratio: 2.25 > 6 (EBITDA TTM 1.54b / Interest Expense TTM 410.3m) |
| A: 0.02 (Total Current Assets 590.1m - Total Current Liabilities 254.3m) / Total Assets 19.59b |
| B: -0.03 (Retained Earnings -546.7m / Total Assets 19.59b) |
| C: 0.05 (EBIT TTM 923.6m / Avg Total Assets 19.66b) |
| D: -0.06 (Book Value of Equity -542.2m / Total Liabilities 9.04b) |
| Altman-Z'' Score: 0.27 = B |
| DSRI: 1.18 (Receivables 420.4m/340.5m, Revenue 2.16b/2.07b) |
| GMI: 1.26 (GM 54.71% / 68.70%) |
| AQI: 1.02 (AQ_t 0.96 / AQ_t-1 0.95) |
| SGI: 1.04 (Revenue 2.16b / 2.07b) |
| TATA: -0.03 (NI 616.2m - CFO 1.14b) / TA 19.59b) |
| Beneish M-Score: -2.63 (Cap -4..+1) = A |
Over the past week, the price has changed by -2.04%, over one month by -2.04%, over three months by +0.46% and over the past year by +12.71%.
- StrongBuy: 6
- Buy: 2
- Hold: 15
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 25.4 | 10.2% |
P/E Forward = 31.9489
P/S = 7.201
P/B = 1.5242
P/EG = 3.3685
Revenue TTM = 2.16b USD
EBIT TTM = 923.6m USD
EBITDA TTM = 1.54b USD
Long Term Debt = 8.18b USD (from longTermDebt, last quarter)
Short Term Debt = 855.5m USD (from shortTermDebt, last quarter)
Debt = 8.31b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 8.14b USD (from netDebt column, last quarter)
Enterprise Value = 23.70b USD (15.56b + Debt 8.31b - CCE 169.6m)
Interest Coverage Ratio = 2.25 (Ebit TTM 923.6m / Interest Expense TTM 410.3m)
EV/FCF = 30.38x (Enterprise Value 23.70b / FCF TTM 780.2m)
FCF Yield = 3.29% (FCF TTM 780.2m / Enterprise Value 23.70b)
FCF Margin = 36.10% (FCF TTM 780.2m / Revenue TTM 2.16b)
Net Margin = 28.51% (Net Income TTM 616.2m / Revenue TTM 2.16b)
Gross Margin = 54.71% ((Revenue TTM 2.16b - Cost of Revenue TTM 979.0m) / Revenue TTM)
Gross Margin QoQ = 69.14% (prev 11.34%)
Tobins Q-Ratio = 1.21 (Enterprise Value 23.70b / Total Assets 19.59b)
Interest Expense / Debt = 1.00% (Interest Expense 83.1m / Debt 8.31b)
Taxrate = 0.47% (2.80m / 595.6m)
NOPAT = 919.2m (EBIT 923.6m * (1 - 0.47%))
Current Ratio = 2.32 (Total Current Assets 590.1m / Total Current Liabilities 254.3m)
Debt / Equity = 0.80 (Debt 8.31b / totalStockholderEquity, last quarter 10.39b)
Debt / EBITDA = 5.28 (Net Debt 8.14b / EBITDA 1.54b)
Debt / FCF = 10.43 (Net Debt 8.14b / FCF TTM 780.2m)
Total Stockholder Equity = 10.45b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.13% (Net Income 616.2m / Total Assets 19.59b)
RoE = 5.90% (Net Income TTM 616.2m / Total Stockholder Equity 10.45b)
RoCE = 4.96% (EBIT 923.6m / Capital Employed (Equity 10.45b + L.T.Debt 8.18b))
RoIC = 4.93% (NOPAT 919.2m / Invested Capital 18.64b)
WACC = 5.11% (E(15.56b)/V(23.87b) * Re(7.30%) + D(8.31b)/V(23.87b) * Rd(1.00%) * (1-Tc(0.00)))
Discount Rate = 7.30% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: 49.44 | Cagr: 3.84%
[DCF] Terminal Value 87.19% ; FCFF base≈756.5m ; Y1≈828.2m ; Y5≈1.05b
[DCF] Fair Price = 33.88 (EV 30.98b - Net Debt 8.14b = Equity 22.85b / Shares 674.4m; r=6.0% [WACC]; 5y FCF grow 10.82% → 3.0% )
EPS Correlation: 42.35 | EPS CAGR: 131.4% | SUE: 0.20 | # QB: 0
Revenue Correlation: 96.46 | Revenue CAGR: 7.38% | SUE: 1.45 | # QB: 3
EPS current Quarter (2026-06-30): EPS=0.20 | Chg30d=+0.00% | Revisions=+20% | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.20 | Chg30d=+1.25% | Revisions=+20% | Analysts=4
EPS current Year (2026-12-31): EPS=0.80 | Chg30d=+0.63% | Revisions=+33% | GrowthEPS=+7.4% | GrowthRev=+3.4%
EPS next Year (2027-12-31): EPS=0.86 | Chg30d=-1.15% | Revisions=+0% | GrowthEPS=+7.6% | GrowthRev=+3.5%
[Analyst] Revisions Ratio: +33%