KITE REALTY GROUP TRUST financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KITE REALTY GROUP TRUST 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	354	359	354	315	267	373	802	821	837	844
General and administrative	20.6	21.7	21.3	28.2	30.8	34	54.9	56.1	52.6	55.5
Operating expenses	289	294	337	282
Operating income	69.7	79.9	21	71.8	35	-21.5	91.7	152	111
Interest expense	65.6	65.7	66.8	59.3	50.4	60.4	104	105	126	133
Other non-operating income	-0.17	-0.42	-0.65	-0.57	0.25	0.36	0.24	1.99	17.9	9.04
Income tax	0.81	-0.1	-0.23	-0.28	-0.7	-0.31	0.04	0.53	0.14	0.47
Income from continuing operations	1.18
Net income to minority interests	1.93	2.01	0.12	0.53	0.1	-0.92	0.48	0.89	0.35	6.87
Net income	1.18	11.9	-46.6	-0.53	-16.2	-80.8	-12.6	47.5	4.07	299
EBITDA	69.7	252	173	204	164	182	565	582	509
EPS, basic	0.01	0.14	-0.56	-0.01	-0.19	-0.73	-0.06	0.22	0.02	1.37
EPS, diluted	0.01	0.14	-0.56	-0.01	-0.19	-0.73	-0.06	0.22	0.02	1.37
Shares, basic (weighted)	83.4	83.6	83.7	83.9	84.1	111	219	219	220	218
Shares, diluted (weighted)	83.5	83.7	83.7	83.9	84.1	111	219	220	220	218
Dividend per share	1.17	1.23	1.27	1.27	0.60	0.72	0.87	0.97	1.03	1.25

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	19.9	24.1	35.4	31.3	43.6	93.2	116	36.4	128	36.8
Short-term investments					0	125	0	0	350	0
Intangible assets	86.3	66.3	47.6	35.7	29.6	498	354	241	168	107
Total assets	3,656	3,512	3,172	2,649	2,609	7,640	7,342	6,944	7,092	6,664
Total liabilities	1,924	1,874	1,713	1,307	1,334	3,657	3,516	3,300	3,680	3,473
Total debt	1,731	1,699	1,543	1,147	1,171	3,151	3,010	2,829	3,227	3,025
Paid-in capital	2,062	2,071	2,078	2,074	2,085	4,899	4,898	4,887	4,869	4,612
Retained earnings	-419	-510	-663	-770	-824	-963	-1,208	-1,373	-1,595	-1,564
Other comprehensive income	-0.32	2.99	-3.5	-16.3	-30.9	-15.9	74.3	52.4	36.6	23.1
Shareholders' equity	1,644	1,565	1,413	1,289	1,231	3,922	3,767	3,568	3,312	3,074
Minority interests	0.69	0.7	0.7	0.7	0.7	5.15	5.37	2.43	1.89	1.92
Total equity	1,644	1,566	1,413	1,290	1,231	3,927	3,772	3,571	3,314	3,076
Total liabilities and equity	3,656	3,512	3,172	2,649	2,609	7,640	7,342	6,944	7,092	6,664
Shares outstanding	83.5	83.6	83.8	84	84.2	219	219	219	220	209

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	3.12	13.9	-46.5	-0	-16.1	-81.7	-12.2	48.4	4.42	306
Depreciation and amortization	0	172	152	132	129	203	473	430	398	380
Stock-based compensation	5.21	5.99	4.87	5.38	6	6.7	10.3	10.1	10.7	10.8
Cash from operations	155	155	154	138	95.5	100	379	395	419	430
Capital expenditures	-94.6	-72.4	-59.3	-53.3				-145	-140	-152
Purchases of investments				0	0	-125	0	0	-615	0
Sales and maturities of investments	0
Cash from investing	-82.9	-2.03	148	417	-80.8	-91	-45.1	-81.7	-499	614
Debt issued		97.7	400	75	325	215	455	369	733	817
Debt repaid	-594	-129	-551	-471	-302	-77.6	-569	-544	-315	-1,018
Stock issued	4.4	0.03	0.08	0.35	0.07	0.03	0.03	0.09	0.07	0.08
Share buybacks	-1.13	-0.84	-0.35	-0.53	-1.34	-15	-1.54	-0.77	-0.91	-1.34
Dividends paid	-94.7	-101	-106	-133	-38.1	-57.8	-180	-211	-222	-236
Cash from financing	-90.9	-149	-289	-547	-20.9	44.5	-313	-393	172	-698
Net change in cash	-14	3.26	13.3	7.31	-6.23	53.8	21.6	-80.5	92.1	345
Free cash flow	60.8	82.2	95.1	84.7				250	279	278
Interest paid	67.2	68.8	68	60.5	50.4	59.6	114	121	131	133
Income taxes paid	0.55	0	0

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 $24.78 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Net margin	41.8%	Net income / revenue.
Operating cash flow margin	49.5%	Cash from operations / revenue.
Return on equity (ROE)	11.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.4%	Net income / average total assets.
Stock-based pay / revenue	1.4%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	42.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	25.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	7,236.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	6,750.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	2.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	4.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	35.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-0.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y	20.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	12.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	15.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-7.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-6.6%	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	20.1%	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	-6.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.2%	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	20.6%	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	-0.6%	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	21.0%	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	0.99x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	45.4%	Total debt / total assets.
Liabilities / assets	51.8%	Total liabilities / total assets.
Net debt	$2.70B	Total debt - cash - short-term investments. Negative means more cash than debt.
Tangible book value	$2.87B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.13x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.66	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	$3.97	Revenue / diluted weighted shares.
Operating cash flow per share	$1.97	Cash from operations / diluted weighted shares.
Book value per share	$14.32	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.32	Tangible book value / shares outstanding.
Cash per share	$0.72	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$4.96B	Share price x shares outstanding.
Enterprise value	$7.66B	Market cap + total debt - cash - short-term investments.
P/E	14.7x	Market cap / net income. Only when net income is positive.
P/S	6.15x	Market cap / revenue.
P/B	1.73x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.73x	Market cap / tangible book value, when positive.
P/OCF	12.4x	Market cap / cash from operations, when positive.
EV/Sales	9.50x	Enterprise value / revenue.
Earnings yield	6.8%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.

What was KITE REALTY GROUP TRUST's revenue in fiscal 2025?

KITE REALTY GROUP TRUST reported revenue of $844.4M for fiscal 2025, 0.8% higher than the year before.

Was KITE REALTY GROUP TRUST profitable in fiscal 2025?

Yes. Net income was $298.7M, a net margin of 35.4%.

How much free cash flow did KITE REALTY GROUP TRUST generate in fiscal 2025?

Cash from operations of $429.7M minus capital expenditures of $152.0M left free cash flow of $277.7M.

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.

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