WallStSmart

Kilroy Realty Corp (KRC)vsVornado Realty Trust (VNO)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Vornado Realty Trust generates 67% more annual revenue ($1.85B vs $1.11B). VNO leads profitability with a 42.9% profit margin vs 19.6%. KRC appears more attractively valued with a PEG of 1.82. VNO earns a higher WallStSmart Score of 61/100 (C+).

KRC

Buy

56

out of 100

Grade: C

Growth: 2.7Profit: 6.0Value: 6.7Quality: 6.5
Piotroski: 4/9Altman Z: 1.11

VNO

Buy

61

out of 100

Grade: C+

Growth: 5.3Profit: 6.5Value: 7.3Quality: 4.8
Piotroski: 4/9Altman Z: 0.45
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

KRCUndervalued (+50.8%)

Margin of Safety

+50.8%

Fair Value

$65.50

Current Price

$34.90

$30.60 discount

UndervaluedFair: $65.50Overvalued
VNOUndervalued (+45.8%)

Margin of Safety

+45.8%

Fair Value

$55.79

Current Price

$32.16

$23.63 discount

UndervaluedFair: $55.79Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

KRC2 strengths · Avg: 9.0/10
Price/BookValuation
0.8x10/10

Reasonable price relative to book value

Operating MarginProfitability
22.5%8/10

Strong operational efficiency at 22.5%

VNO4 strengths · Avg: 10.0/10
P/E RatioValuation
8.8x10/10

Attractively priced relative to earnings

Price/BookValuation
1.3x10/10

Reasonable price relative to book value

Profit MarginProfitability
42.9%10/10

Keeps 43 of every $100 in revenue as profit

EPS GrowthGrowth
1263.0%10/10

Earnings expanding 1263.0% YoY

Areas to Watch

KRC4 concerns · Avg: 2.8/10
PEG RatioValuation
1.824/10

Expensive relative to growth rate

Return on EquityProfitability
4.4%3/10

ROE of 4.4% — below average capital efficiency

Revenue GrowthGrowth
-0.3%2/10

Revenue declined 0.3%

EPS GrowthGrowth
-79.0%2/10

Earnings declined 79.0%

VNO3 concerns · Avg: 2.0/10
PEG RatioValuation
7.372/10

Expensive relative to growth rate

Revenue GrowthGrowth
-2.2%2/10

Revenue declined 2.2%

Altman Z-ScoreHealth
0.452/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : KRC

The strongest argument for KRC centers on Price/Book, Operating Margin. Profitability is solid with margins at 19.6% and operating margin at 22.5%.

Bull Case : VNO

The strongest argument for VNO centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 42.9% and operating margin at 13.7%.

Bear Case : KRC

The primary concerns for KRC are PEG Ratio, Return on Equity, Revenue Growth.

Bear Case : VNO

The primary concerns for VNO are PEG Ratio, Revenue Growth, Altman Z-Score.

Key Dynamics to Monitor

VNO carries more volatility with a beta of 1.54 — expect wider price swings.

KRC is growing revenue faster at -0.3% — sustainability is the question.

VNO generates stronger free cash flow (48M), providing more financial flexibility.

Monitor REIT - OFFICE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

VNO scores higher overall (61/100 vs 56/100), backed by strong 42.9% margins. KRC offers better value entry with a 50.8% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Kilroy Realty Corp

REAL ESTATE · REIT - OFFICE · USA

Kilroy Realty Corporation (NYSE: KRC, the?

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Vornado Realty Trust

REAL ESTATE · REIT - OFFICE · USA

Vornado Realty Trust is a real estate investment trust formed in Maryland, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.

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