KBS Real Estate Investment Trust III, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KBS Real Estate Investment Trust III, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
400
414
426
385
307
297
308
301
278
250
General and administrative
5.4
4.72
9.6
8.42
6.6
6.12
8.12
7.3
18.5
7.47
Interest expense
51.6
55
72.2
114
42
34.6
60.3
120
127
114
Interest income
0.06
0.17
0.31
0.66
0.07
0.05
0.06
0.51
1.23
0.57
Other non-operating income
0.05
16
328
48.9
140
-95.5
-35.1
99.5
84.1
Net income to minority interests
0
0
-0.02
-0.03
6.15
0
0
Net income
0.76
1.37
3.33
261
-18.5
144
-62.5
-158
-10.9
-78.8
EPS, basic
0.00
0.01
0.02
1.49
-0.10
0.83
-0.42
-1.06
-0.07
-0.53
EPS, diluted
0.00
0.01
0.02
1.49
-0.10
0.83
-0.42
-1.06
-0.07
-0.53
Shares, basic (weighted)
180
181
178
175
183
172
149
149
149
149
Shares, diluted (weighted)
180
181
178
175
183
172
149
149
149
149
Dividend per share
0.65
0.65
0.65
1.45
0.60
0.60
0.60
0.23
0.00
0.00
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
72.1
65.5
75
44
72.5
44.4
47.8
36.8
30.5
23.7
Total assets
3,183
3,221
3,301
2,639
2,504
2,254
2,259
2,139
1,823
1,563
Total liabilities
1,927
2,100
2,345
1,602
1,560
1,592
1,805
1,872
1,567
1,385
Total debt
1,783
1,942
2,185
1,460
1,388
1,465
1,667
1,736
1,443
1,283
Paid-in capital
1,592
1,592
1,555
1,600
1,641
1,323
1,276
1,313
1,313
1,313
Other comprehensive income
-2.3
0.11
0
Shareholders' equity
1,193
1,079
931
985
898
620
422
267
257
178
Minority interests
0.3
0.3
0.28
0.26
0
Total equity
1,193
1,079
931
985
898
620
422
267
257
178
Total liabilities and equity
3,183
3,221
3,301
2,639
2,504
2,254
2,259
2,139
1,823
1,563
Shares outstanding
181
181
178
181
184
153
148
149
149
149
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
0.76
1.37
3.31
261
-12.4
144
-62.5
-158
-10.9
-78.8
Depreciation and amortization
161
164
159
141
111
111
112
115
111
95.9
Change in receivables
-5.02
-5.22
-11.2
-10.6
-2.7
-5.01
3.04
-3.15
-7.32
-0.32
Change in payables
0.67
5.37
1.24
-0.93
-6.7
4.14
-2.6
-1.32
3.34
-15.1
Cash from operations
114
124
101
70.6
102
101
76
41.6
7.65
-6.08
Capital expenditures
-67.3
-81.9
-88.7
-79.9
-87.6
-70.1
-122
-81.2
-34.5
-24.8
Cash from investing
-199
-163
-104
847
84.3
226
-122
-81.2
158
195
Stock issued
0
0
Share buybacks
-34.8
-61.9
-96.1
-101
-10.9
-366
-89.2
-12.1
0
0
Dividends paid
-55
-58
-59.5
-111
-62.8
-61.7
-56.2
-25.3
0
0
Cash from financing
48.6
32.5
13.9
-944
-157
-359
53
36.7
-175
-169
Net change in cash
-36.2
-6.58
10.6
-26.8
28.5
-31.4
7.4
-2.92
-9.35
20.6
Free cash flow
46.9
42.5
12.2
-9.3
14.1
30.7
-45.6
-39.6
-26.8
-30.8
Interest paid
47.2
58.5
76.1
75.5
51.6
45.6
55.2
93.7
92.5
98.9
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.90 on May 2, 2025.
Profitability
Metric
Value
How it is calculated
Net margin
-31.8%
Net income / revenue.
FCF margin
-6.4%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
4.3%
Cash from operations / revenue.
Return on equity (ROE)
-59.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-5.0%
Net income / average total assets.
Capex / revenue
10.7%
Capital expenditures / revenue.
D&A / revenue
36.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-10.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-6.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-4.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
-179.4%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-30.7%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-25.0%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-27.7%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-14.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-11.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-9.0%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
0.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
-0.1%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
-4.1%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Debt / equity
9.82x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
83.9%
Total debt / total assets.
Liabilities / assets
91.5%
Total liabilities / total assets.
Net debt
$1.21B
Total debt - cash - short-term investments. Negative means more cash than debt.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.50
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$1.58
Revenue / diluted weighted shares.
FCF per share
-$0.10
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.07
Cash from operations / diluted weighted shares.
Book value per share
$0.85
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.57x
Market cap / revenue.
P/B
1.06x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.06x
Market cap / tangible book value, when positive.
P/OCF
13.2x
Market cap / cash from operations, when positive.
EV/Sales
5.74x
Enterprise value / revenue.
FCF yield
-11.2%
Free cash flow / market cap.
Earnings yield
-55.8%
Net income / market cap (the inverse of P/E).
What was KBS Real Estate Investment Trust III, Inc.'s revenue in fiscal 2025?
KBS Real Estate Investment Trust III, Inc. reported revenue of $250.0M for fiscal 2025, 10% lower than the year before.
Was KBS Real Estate Investment Trust III, Inc. profitable in fiscal 2025?
No. It reported a net loss of $78.8M.
How much free cash flow did KBS Real Estate Investment Trust III, Inc. generate in fiscal 2025?
Cash from operations of $6.1M minus capital expenditures of $24.8M left free cash flow of -$30.8M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.