Real Estate · Retail REITs · US stock · price as of 22 Oct 2026
Key indicators
Price
$23.59
52-week range
$19.76 – $26.65
Market cap
$15.9B
P/E (trailing)
27.6×
EV / EBITDA
10.8×
Free-cash-flow yield
7.4%
Dividend yield
4.5%
Revenue (last 12 months)
$2.2B
Revenue growth (3y a year)
7.4%
Operating margin
36.0%
Return on invested capital
7.3%
Net debt / EBITDA
–
Fair value
Fair value (average of valid models)$23.27 middle half of models $23 – $24
Versus priceFair−1% to fair value
P/B multiple
$22.81
P/S multiple
$24.36
P/FFO multiple
$23.42
P/AFFO multiple
$22.48
Model uncertainty
Medium
X-Ray Score
54/ 100 · Low confidence · ahead of 62% of sector peers
Valuation43
Growth57
Profitability54
Financial health64
Dividends53
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Kimco Realty is a real estate investment trust that owns and manages open-air shopping centers and mixed-use properties, many of them anchored by grocery stores, in major metropolitan areas of the United States. Its tenants include supermarkets, off-price retailers, restaurants and service businesses. The company earns revenue mainly from rent and recoveries of property costs, and it also develops and redevelops sites to add residential or retail space.
Revenue of $2.2 billion was recorded for the latest twelve months; sales grew 7.4% a year over the past three years. Kimco Realty Corp converts that into an operating margin of 36.0%. Return on invested capital comes to 7%.
StocksXray gives Kimco Realty Corp an X-Ray Score of 54 out of 100 (low confidence), ahead of 62% of the S&P 500 stocks in its sector. Its strongest lens is financial health (64) and its weakest is valuation (43).
Our fair value (the average of the valid models) is $23.27 (range $22.73 to $23.65). At $23.59 the stock trades 1% above that value, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Kimco Realty Corp (KIM)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$19.85
$17.71
$18.78
$21.60
$19.60
$23.59
Market cap
$10.2B
$10.9B
$11.6B
$14.5B
$13.2B
$15.9B
P/E
–
–
–
–
–
27.6×
EV / revenue
12.5×
10.2×
10.2×
10.8×
9.8×
7.0×
EV / EBITDA
20.8×
16.5×
15.9×
17.8×
14.9×
10.9×
Price / free cash flow
16.4×
12.7×
10.8×
14.4×
12.0×
13.4×
Free-cash-flow yield
6.1%
7.9%
9.2%
6.9%
8.3%
7.4%
Price / book
1.0×
1.1×
1.2×
1.4×
1.3×
1.5×
Dividend yield
3.43%
4.74%
5.43%
4.49%
5.15%
4.49%
Fundamentals checklist ● 3 Good · ● 4 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.0%Average
Risk models
Piotroski F-Score8 of 9Good
Growth
Revenue growth (3y)7.4%Average
Growth consistency100%Good
Balance sheet
Interest cover2.3×Bad
Valuation
Fair value vs price1.0×Bad
EBIT / EV yield5.1%Good
Profitability
Return on invested capital7.3%Average
Operating margin36.0%Average
XStocksXray
Kimco Realty Corp (KIM)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
1,365
1,728
1,783
2,037
2,140
2,187
Gross profit
–
–
–
–
–
–
Operating income
424
565
639
629
771
788
Net income
819
101
629
376
554
577
Diluted EPS ($)
–
–
–
–
–
0.86
Free cash flow
619
861
1,072
1,006
1,102
1,179
Gross margin
–
–
–
–
–
–
Operating margin
31.1%
32.7%
35.8%
30.9%
36.0%
36.0%
Net margin
60.0%
5.8%
35.3%
18.4%
25.9%
26.4%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
18,459
17,826
18,274
20,310
19,688
20,031
Cash
326
147
781
689
212
699
Total debt
7,027
6,781
7,263
7,965
7,719
–
Equity
9,899
9,516
9,525
10,653
10,392
10,266
Dividend per share ($)
0.68
0.84
1.02
0.97
1.01
1.03
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
