Logo

KIM-PL

Kimco Realty Corporation

KIM-PL

Kimco Realty Corporation • NYSE
$20.32 ▲ 0.12% (+0.03)
Market Cap $13.78 B
52w High $22.64
52w Low $19.37
Dividend Yield 1.28%
P/E 12.35
Volume 3.96K
Outstanding Shares 678.04M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $535.861M ▲ $184.65M ▲ $137.135M ▼ 25.592% ▼ $0.2 ▼ $460.78M ▲
Q2-2025 $525.175M ▼ $157.493M ▼ $162.986M ▲ 31.035% ▲ $0.23 ▲ $323.528M ▼
Q4-2024 $536.624M ▲ $192.492M ▲ $132.817M ▼ 24.75% ▼ $0.18 ▼ $350.413M ▲
Q4-2024 $525.397M ▲ $190.901M ▲ $166.038M ▲ 31.602% ▲ $0.22 ▲ $340.108M ▲
Q3-2024 $507.632M $178.362M $135.983M 26.788% $0.19 $338.261M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $159.339M ▼ $19.88B ▲ $9.195B ▲ $10.486B ▼
Q2-2025 $226.553M ▲ $19.797B ▲ $9.079B ▲ $10.521B ▼
Q4-2024 $131.271M ▼ $19.731B ▼ $8.951B ▼ $10.588B ▼
Q4-2024 $690.912M ▼ $20.31B ▲ $9.464B ▲ $10.653B ▲
Q3-2024 $791.306M $20.129B $9.386B $10.523B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-298.688M ▼ $332.428M ▲ $-257.011M ▼ $-142.762M ▼ $-67.345M ▼ $238.672M ▲
Q2-2025 $164.942M ▲ $305.403M ▲ $-101.521M ▲ $-108.559M ▲ $95.323M ▲ $219.31M ▼
Q4-2024 $134.503M ▼ $223.813M ▼ $-130.554M ▲ $-650.487M ▼ $-557.228M ▼ $223.813M ▼
Q4-2024 $167.999M ▲ $239.541M ▼ $-226.686M ▼ $-113.168M ▼ $-100.313M ▼ $239.541M ▲
Q3-2024 $138.426M $295.93M $-81.323M $447.882M $662.489M $211.083M

Revenue by Products

Product Q2-2018Q3-2018Q4-2018Q1-2019
Management and Other Fee Incomes
Management and Other Fee Incomes
 $0 ▲$0 ▲$0 ▲$0 ▲
Other Rental Property Income
Other Rental Property Income
 $10.00M ▲$10.00M ▲$0 ▼$0 ▲
Reimbursement Income
Reimbursement Income
 $60.00M ▲$60.00M ▲$60.00M ▲$0 ▼
Revenues from Rental Properties
Revenues from Rental Properties
 $220.00M ▲$220.00M ▲$210.00M ▼$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Kimco’s income statement shows a generally healthy underlying business with some ups and downs in bottom-line profit. Revenue has grown steadily over the past five years, which suggests the portfolio is fuller, rents are higher, or both. Core property earnings (the profit from running the centers before financing and one-off gains) look reasonably stable and have trended upward with scale, which is what you’d hope to see from a large REIT. Net income, however, has been quite volatile. This is common for real estate because gains and losses from property sales and valuation changes can swing reported profit. The strong years around the pandemic and its aftermath were followed by a softer year, then a rebound, and then another step down. The key takeaway: the operating engine looks consistent, but the final profit number moves around a lot due to non‑recurring items. Earnings per share tell the same story: the long-term direction is solid, but year-to-year results are bumpy. That makes it important to focus more on recurring rental performance than on headline profit in any single year.

Balance Sheet

Balance Sheet The balance sheet reflects a large, mature REIT that has scaled up its portfolio while maintaining a solid equity base. Total assets have increased meaningfully over five years, largely driven by property acquisitions and development. Equity has also grown strongly, which provides a cushion for creditors and preferred holders and suggests value has been built rather than just relying on leverage. Debt has risen alongside assets, which is normal for a property owner using borrowings to fund growth. The key point is that equity has grown as well, so the company does not look overly stretched based on these high-level figures. Cash on hand is modest relative to total assets, again typical for REITs that rely on revolving credit lines and steady cash flow instead of large idle cash balances. Overall, the balance sheet looks like that of an investment‑grade retail REIT: fairly leveraged, as is standard in this sector, but anchored by a large property base and a growing equity position.

Cash Flow

Cash Flow Kimco’s cash flow profile is a core strength. Operating cash flow has trended upward over the period, reflecting improving rent collections and a growing portfolio. Even in earlier years, cash from operations remained positive and reasonably stable, which is important for a business that must fund dividends and property upkeep. Free cash flow has also been consistently positive, even after accounting for capital spending. Earlier years show more visible investment in properties, while more recent figures suggest either lower net spending or that much of the development work was funded and completed earlier. In either case, the company has been generating enough cash from its centers to comfortably cover its capital needs. For a REIT, this steady, recurring cash flow is more informative than swings in accounting profit and underpins its ability to service debt and preferred obligations.

Competitive Edge

Competitive Edge Kimco occupies a strong niche within retail real estate by focusing on grocery‑anchored and everyday‑needs shopping centers. These centers tend to attract consistent foot traffic because people need groceries and basic services regardless of the economic cycle. This has helped insulate Kimco’s properties from some of the pressures that hurt more discretionary or fashion‑heavy malls. The portfolio is concentrated in attractive coastal and Sun Belt markets with solid demographics and barriers to new development. That positioning supports both occupancy and long‑term rent growth. The company also actively prunes and upgrades its holdings, selling weaker assets and reinvesting in stronger locations or redevelopment projects. Kimco further differentiates itself through a curated tenant mix that emphasizes service businesses, food, healthcare, and other categories that are less vulnerable to online competition. Its scale, access to capital, and mixed‑use development expertise add to its competitive moat, allowing it to create more vibrant, higher‑value properties than smaller landlords typically can.

Innovation and R&D

Innovation and R&D Although real estate is not traditionally R&D‑heavy, Kimco has leaned into innovation in practical, business‑focused ways. It uses data analytics and property technology to improve leasing decisions, manage buildings more efficiently, and understand tenant and shopper behavior. This can help it keep centers relevant, reduce operating costs, and spot issues earlier. Programs like “Kimco Advantage” and digital tenant portals show a deliberate effort to act as a partner rather than just a landlord. Offering support services, better communication, and streamlined digital tools can strengthen tenant relationships and reduce turnover. Kimco is also pushing forward with mixed‑use redevelopments, turning older shopping centers into live‑work‑play environments that blend retail, residential, and sometimes office or green space. This is a form of product innovation in real estate, aimed at making properties more resilient and attractive over time. On top of that, initiatives around sustainability and potential last‑mile logistics uses for well‑located centers suggest the company is thinking about how its assets fit into the future of e‑commerce and community development, not just today’s retail environment.

Summary

Kimco Realty looks like a large, established REIT with a resilient business model centered on grocery‑anchored and necessity‑based centers in strong markets. The income statement shows steady growth in underlying operating earnings, even though reported net income is choppy due to property and valuation effects. The balance sheet reflects a sizable property base funded with a mix of debt and a growing equity cushion, consistent with an investment‑grade retail REIT. Cash flows are a notable positive: recurring cash generation has been strong enough to fund investments and support capital needs over multiple years. Competitively, Kimco benefits from the stability of grocery‑anchored centers, deliberate market selection, and active portfolio management. Its focus on tenant support, technology adoption, and mixed‑use redevelopment signals a willingness to adapt as retail and consumer behavior evolve. For stakeholders in KIM‑PL, the key story is a company with a solid, cash‑generative real estate platform, a meaningful but managed use of leverage, and an ongoing push to keep its centers relevant through technology, tenant mix, and redevelopment—balanced by the usual risks of economic cycles, interest rates, and changing retail trends.