Explain this page
Arphra AIPlain-English read on Kimco Realty Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +69.37% | +69.27% | +68.78% | +68.70% | +54.66% | +64.68% | +64.72% | +64.62% | +63.24% |
| Operating margin | +31.09% | +32.73% | +35.82% | +30.88% | +35.17% | +34.18% | +33.94% | +33.86% | +34.95% |
| EBITDA margin | +98.53% | +61.33% | +78.58% | +61.99% | +75.83% | +70.23% | +71.43% | +72.02% | +70.38% |
| EBIT margin | +69.56% | +33.09% | +50.14% | +32.35% | +46.87% | +44.02% | +42.16% | +44.01% | +43.91% |
| Pre-tax margin | +62.52% | +9.91% | +40.76% | +21.84% | +27.83% | +30.96% | +29.76% | +29.80% | +31.02% |
| Net margin | +61.85% | +7.29% | +36.69% | +20.17% | +27.29% | +28.66% | +28.19% | +27.71% | +27.54% |
| Cost structure | |||||||||
| Cost of revenue / sales | +30.63% | +30.73% | +31.22% | +31.30% | +45.34% | +35.79% | +35.09% | +35.40% | +36.38% |
| R&D intensity | 0.00% | +0.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +7.63% | +6.95% | +7.67% | +6.78% | +7.95% | +7.38% | +7.39% | +7.61% | +7.32% |
| Effective tax rate | +0.40% | +33.09% | +8.39% | +5.71% | +0.47% | +4.68% | +5.02% | +5.05% | +4.69% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +8.34% | +1.29% | +6.73% | +3.79% | +5.53% | +5.37% | +5.27% | +5.17% | +5.29% |
| Return on assets (ROA) | +4.57% | +0.71% | +3.58% | +2.02% | +2.97% | +2.93% | +2.87% | +2.84% | +2.73% |
| Return on capital (ROC) | +2.39% | +3.32% | +3.66% | +3.24% | +3.92% | +3.61% | +3.53% | +3.53% | +3.68% |
| Return on invested capital (ROIC) | +4.76% | +0.74% | +3.75% | +2.11% | +3.04% | +3.03% | +2.93% | +2.89% | +2.90% |
| Asset turnover | +7.39% | +9.69% | +9.76% | +10.03% | +10.87% | +10.21% | +10.19% | +10.26% | +9.93% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +61.85% | +7.29% | +36.69% | +20.17% | +27.29% | +28.66% | +28.19% | +27.71% | +27.54% |
| Asset turnover (× revenue / assets) | +7.39% | +9.69% | +9.76% | +10.03% | +10.87% | +10.21% | +10.19% | +10.26% | +9.93% |
| Equity multiplier (× assets / equity) | +182.34% | +183.02% | +187.89% | +187.26% | +186.30% | +183.44% | +183.41% | +181.70% | +193.46% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.07 | 0.10 | 0.10 | 0.10 | 0.11 | 0.10 | 0.10 | 0.10 | 0.10 |
| Fixed-asset turnover | 9.25 | 12.92 | 13.90 | 16.11 | 16.77 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 5.36 | 5.68 | 5.80 | 5.98 | 2.84 | — | — | — | — |
| Payables turnover | 1.90 | 2.55 | 2.57 | 2.26 | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 68.12 | 64.27 | 62.96 | 61.01 | 128.41 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 192.42 | 142.87 | 141.77 | 161.34 | — | — | — | — | — |
| Cash conversion cycle | -124.29 | -78.60 | -78.81 | -100.34 | 128.41 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.73 | 6.84 | 1.64 | 2.45 | 1.92 | 1.90 | 1.95 | 1.93 | 1.96 |
| FCF / Net income | 0.73 | 6.84 | 1.23 | 1.66 | 1.32 | 1.35 | 1.37 | 1.37 | 1.41 |
| FCF margin | +45.35% | +49.84% | +45.26% | +33.44% | +36.09% | +38.67% | +38.69% | +38.05% | +38.95% |
| OCF margin | +45.35% | +49.84% | +60.09% | +49.37% | +52.33% | +54.56% | +55.01% | +53.50% | +54.03% |
| CapEx / Revenue | 0.00% | 0.00% | +14.83% | +15.93% | +16.24% | +15.31% | +16.02% | +15.99% | +15.62% |
| CapEx / D&A | 0.00 | 0.00 | 0.52 | 0.54 | 0.55 | — | — | — | — |
| Stock-based comp / Revenue | +1.70% | +1.54% | +1.85% | +1.71% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 1.60 | 0.16 | 1.02 | 0.55 | 0.83 | 0.82 | 0.84 | 0.91 | 0.84 |
| EPS · basic | 1.61 | 0.16 | 1.02 | 0.55 | 0.83 | 0.81 | 0.86 | 0.91 | 0.83 |
| Book value / share | 19.80 | 15.76 | 15.73 | 16.14 | 15.68 | 17.47 | 17.98 | 19.10 | 20.42 |
| Tangible BV / share | 19.80 | 15.76 | 15.73 | 15.54 | 15.68 | 17.47 | 17.98 | 19.10 | 20.42 |
| Sales / share | 2.67 | 2.80 | 2.88 | 3.03 | 3.17 | 3.27 | 3.36 | 3.56 | 3.92 |
| Operating CF / share | 1.21 | 1.39 | 1.73 | 1.50 | 1.66 | 1.79 | 1.85 | 1.91 | 2.12 |
| Free cash flow / share | 1.21 | 1.39 | 1.31 | 1.01 | 1.15 | 1.27 | 1.30 | 1.36 | 1.53 |
| Dividends / share | 0.75 | 0.88 | 1.06 | 1.02 | 1.06 | 1.15 | 1.14 | 1.22 | 1.33 |
| Payout ratio | +45.27% | +432.42% | +100.49% | +166.97% | +122.34% | +122.33% | +120.52% | +123.26% | +122.63% |
| Retention ratio | +54.73% | -332.42% | -0.49% | -66.97% | -22.34% | -22.33% | -20.52% | -23.26% | -22.63% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +26.61% | +3.22% | +14.22% | +5.06% | +2.70% | +3.98% | +4.88% | +10.55% | +8.65% |
| Gross profit · YoY | — | +26.42% | +2.50% | +14.08% | -16.41% | +21.53% | +4.05% | +4.71% | +8.20% | +7.40% |
| Profit | ||||||||||
| Operating income · YoY | — | +33.27% | +12.97% | -1.52% | +19.63% | -0.18% | +3.24% | +4.62% | +14.14% | +10.25% |
| EBITDA · YoY | — | -21.20% | +32.26% | -9.90% | +28.52% | -4.89% | +5.75% | +5.75% | +8.03% | +4.17% |
| Net income · YoY | — | -85.07% | +419.36% | -37.22% | +42.19% | +7.83% | +2.28% | +3.11% | +9.87% | -1.80% |
| Operating | ||||||||||
| EBIT · YoY | — | -39.78% | +56.41% | -26.29% | +52.22% | -3.55% | -0.41% | +9.47% | +10.30% | +2.58% |
| R&D · YoY | — | — | -100.00% | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -90.00% | +537.50% | -46.08% | +50.91% | -1.67% | +3.49% | +8.28% | -8.15% | -7.74% |
| EPS · basic · YoY | — | -90.06% | +537.50% | -46.08% | +50.91% | -2.46% | +5.76% | +5.70% | -8.27% | -7.95% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $7.6B | $7.27B | $7.73B | $8.58B | $8.64B | $9.08B | $9.76B | $10.12B | $11.35B |
| Net debt | $7.27B | $7.12B | $6.95B | $7.89B | $8.43B | $8.45B | $9.12B | $9.42B | $10.56B |
| Net debt / EBITDA | 5.41 | 6.72 | 4.96 | 6.25 | 5.19 | 5.47 | 5.58 | 5.46 | 5.67 |
| Debt / equity | 0.75 | 0.75 | 0.79 | 0.79 | 0.82 | 0.77 | 0.80 | 0.79 | 0.82 |
| Debt / assets | +41.17% | +40.79% | +42.28% | +42.24% | +43.89% | +42.18% | +43.54% | +43.33% | +42.52% |
| Equity / assets | +54.84% | +54.64% | +53.22% | +53.40% | +53.68% | +54.51% | +54.52% | +55.04% | +51.69% |
| Coverage | |||||||||
| EBITDA / interest expense | 6.59 | 4.67 | 5.60 | 4.10 | 3.98 | 4.45 | 4.45 | 4.57 | 4.41 |
| Operating income / interest | 2.08 | 2.49 | 2.55 | 2.04 | 1.85 | 2.17 | 2.11 | 2.15 | 2.19 |
| Interest expense | $204.13M | $226.82M | $250.2M | $307.81M | $407.52M | $346.71M | $367.21M | $377.56M | $422.68M |
| Liquidity | |||||||||
| Current ratio | 7.98 | 4.93 | 6.42 | 3.58 | 1.08 | — | — | — | — |
| Quick ratio | 7.94 | 4.92 | 6.40 | 3.58 | 1.08 | — | — | — | — |
| Cash ratio | 1.44 | 0.69 | 3.52 | 2.39 | 0.24 | — | — | — | — |
| Working capital | $1.58B | $838.65M | $1.2B | $744.21M | $71.95M | — | — | — | — |
| Working capital / revenue | +115.45% | +48.54% | +67.28% | +36.53% | +3.36% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).