FRT vs KIM: Federal Realty Investment Trust and Kimco Realty compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Kimco Realty is the larger company, worth $15.1B, about 1.6 times Federal Realty Investment Trust.
- Federal Realty Investment Trust grew revenue faster over the last year (+10.3% vs +4.9%).
- Federal Realty Investment Trust keeps more of each dollar of revenue as operating profit (53.6% vs 36.0%).
- On earnings, Federal Realty Investment Trust is the cheaper stock (18.7x vs 25.8x).
- Federal Realty Investment Trust's price assumes faster free cash flow growth: about 6% a year, against 0% for Kimco Realty (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | FRT | KIM |
|---|---|---|
| Market cap | $9.4B | $15.1B |
| Share price | $106.16 | $22.16 |
| Revenue (last fiscal year) | $1.3B | $2.1B |
| Free cash flow (last fiscal year) | $443M | $1.1B |
| Revenue growth, last year | +10.3% | +4.9% |
| Revenue growth per year, last 5 fiscal years | +7.7% | +246.3% |
| Operating margin | 53.6% | 36.0% |
| Net margin | 38.6% | 27.8% |
| Return on equity | 15.3% | 5.9% |
| P/E (trailing) | 18.7x | 25.8x |
| Price / free cash flow | 28.3x | 19.6x |
| EV / EBITDA | 13.7x | 16.1x |
| FCF growth the price implies | 5.7% | 0.05% |
| Dividend yield | 4.2% | 4.5% |
| Debt / equity | 1.67x | 0.94x |
| Fundamental grade | B | C |
| Superinvestors holding it | 2 | 2 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Federal Realty Investment Trust
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $951M | $103M | 41.5% |
| 2022 | $1.1B | $208M | 49.0% |
| 2023 | $1.1B | $342M | 35.9% |
| 2024 | $1.2B | $435M | 39.3% |
| 2025 | $1.3B | $443M | 47.1% |
Kimco Realty
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $15M | — | 2850.8% |
| 2022 | $17M | — | 3358.7% |
| 2023 | $1.8B | — | 35.8% |
| 2024 | $2.0B | — | 30.9% |
| 2025 | $2.1B | $1.1B | 36.0% |
Where the revenue comes from
Federal Realty Investment Trust
No segment breakdown reported.
Kimco Realty · by products, 2018
Revenues from Rental Properties$882M76%
Reimbursement Income$246M21%
Other Rental Property Income$21M2%
Management and Other Fee Incomes$15M1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open FRT in InvestinglyQuestions
Which is bigger, Federal Realty Investment Trust or Kimco Realty?
Kimco Realty (KIM), at $15.1B against $9.4B.
Is FRT or KIM cheaper?
By trailing P/E, Federal Realty Investment Trust (18.7x) is cheaper than Kimco Realty (25.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, FRT or KIM?
Federal Realty Investment Trust: revenue grew +10.3% over the last year, against +4.9%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.