Kite Realty Group Trust (KRG) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+143.0%

$61.93

vs $25.49 price

Levered DCF

$19.16

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	17.37×	1,364.32×	103.91×	-364.82×	-29.84×	-78.74×	-3,051.56×	-25.16×
P/B	1.67×	1.67×	1.41×	1.22×	0.61×	1.02×	1.27×	0.83×
P/S	6.06×	6.58×	6.09×	5.75×	6.45×	4.72×	5.2×	3.31×
EV / EBITDA	10.42×	16.36×	14.35×	13.72×	31.66×	14.95×	14.61×	15.21×
Gross margin	53.3%	74.2%	74.4%	73.6%	71.8%	71.2%	73.2%	73.8%
Operating margin	23.1%	13.2%	18.5%	11.4%	-5.8%	13.1%	22.8%	5.9%
Net margin	35.2%	0.5%	5.8%	-1.6%	-21.6%	-6.1%	-0.2%	-13.1%
Current ratio	1.44×	3.3×	0.78×	1.07×	1.05×	1.24×	1.78×	0.72×
Debt / equity	1.1×	0.97×	0.86×	0.87×	0.87×	1.01×	0.95×	1.09×
Interest coverage	1.59×	0.89×	1.45×	0.88×	-0.36×	0.69×	1.21×	0.31×
Dividend yield	4.6%	4.0%	4.2%	3.9%	2.4%	3.0%	8.1%	9.1%
Payout ratio	79.2%	5448.1%	443.3%	-1421.5%	-71.5%	-235.0%	-24954.7%	-228.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.7%	0.1%	1.3%	-0.3%	-2.1%	-1.3%	-0.0%	-3.3%
Return on invested capital	2.9%	1.6%	2.2%	1.3%	-0.3%	1.3%	0.0%	0.7%
Return on assets	4.5%	0.1%	0.7%	-0.2%	-1.1%	-0.6%	-0.0%	-1.5%
Free cash flow yield	5.4%	5.0%	5.0%	4.8%	1.8%	4.5%	5.2%	8.1%
Earnings yield	5.8%	0.1%	0.9%	-0.3%	-3.4%	-1.3%	-0.0%	-4.0%
Enterprise value	$8.5B	$8.6B	$8B	$7.8B	$5.7B	$2.5B	$2.8B	$2.7B
Net debt / EBITDA	4.1×	5.87×	5.39×	5.56×	18.39×	7.3×	6.15×	8.56×
Cash conversion cycle (days)	55	-286	-293	-333	-613	-299	-248	-293