ESBA vs KRC vs MAA Stock Comparison

Empire State Realty OP, Kilroy Realty and Mid America Apartment Communities Prices as of Oct 27, 2026 Peers: Industry group
KRC Kilroy Realty Corp
$35.98 +5.2% 1M -12.8% 1Y
Market cap
$4.18B
P/E
146.4x
Revenue (TTM)
$1.09B
Div. yield
6.00%
Office REITs Real Estate
1 win

Head to Head

12 decided of 12

Mid America Apartment Communities leads on 10 of the 12 questions below (Mid America Apartment Communities 10, Empire State Realty OP 1, Kilroy Realty 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionESBAKRCMAALeader
Larger companyMarket capitalisation $1.31B $4.18B $13.78B MAA
Cheaper on earningsLower P/E, profitable companies only 259.5x 146.4x 34.5x MAA
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 156.4x 33.3x MAA
Faster revenue growthRevenue growth, trailing twelve months +2.0% -3.6% +0.8% ESBA
More profitableNet margin, trailing twelve months 0.6% 2.6% 18.0% MAA
Better return on capitalReturn on invested capital -1.1% — 5.3% MAA
Less leveragedLower net debt / EBITDA 5.0x — 4.5x MAA
Higher dividend yieldTrailing dividend yield 3.28% 6.00% 5.15% KRC
Better 1-year returnPrice return, last 12 months -36.1% -12.8% -10.7% MAA
Better 5-year returnAnnualised price return, 5 years -13.2%/yr -12.0%/yr -10.5%/yr MAA
Less volatileAnnualised volatility, 1 year 51.7% 29.2% 19.8% MAA
Higher overall scoreMean of the five percentile scores vs peers 33/100 44/100 51/100 MAA

Percentile Scorecard

ESBAKRCMAA

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisESBAKRCMAA
Valuation 69 #46 of 145 71 #43 of 145 45 #80 of 145
Growth 2 #138 of 141 1 #140 of 141 15 #120 of 141
Profitability 27 #98 of 134 45 #74 of 134 87 #18 of 134
Financial Health 57 #60 of 138 64 #50 of 138 60 #56 of 138
Shareholder Returns 12 #116 of 131 42 #77 of 131 46 #71 of 131
Overall 33 44 51
  • ESBA ranked among 149 companies in Property REITs
  • KRC ranked among 149 companies in Property REITs
  • MAA ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodESBAKRCMAASPY
1 month +22.0%+5.2%+0.3% -0.2%
3 months -12.9%-7.0%-12.5% +3.9%
6 months -14.1%+5.5%-8.9% +8.2%
Year to date -22.5%-3.7%-14.5% +12.9%
1 year -36.1%-12.8%-10.7% +12.3%
3 years -38.1%+30.3%+1.0% +87.4%
3 years, per year -14.8%+9.2%+0.3% +23.3%
5 years -50.6%-47.1%-42.4% +67.9%
5 years, per year -13.2%-12.0%-10.5% +10.9%
10 years -74.7%-49.0%+32.0% +261.1%
10 years, per year -12.9%-6.5%+2.8% +13.7%

Risk

MeasureESBAKRCMAASPY
Volatility, 1Y 51.7%29.2%19.8% 12.7%
Downside volatility, 1Y 61.1%30.1%19.2% 12.7%
Beta vs S&P 500, 1Y 0.420.560.05 1.00
Return / volatility, 1Y -0.70-0.44-0.54 0.97
Max drawdown, 5Y -66.4%-67.0%-50.2% -25.4%
From 52-week high -37.0%-17.2%-16.5% -1.2%
52-week high $7.75$43.48$142.19 $779.14
52-week low $3.85$27.72$114.20 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleESBAKRCMAA
P/E now vs peer median 259.5xmedian 26.3x 146.4xmedian 26.3x 34.5xmedian 26.3x
P/S now vs peer median 1.7xmedian 4.0x 3.9xmedian 4.0x 6.2xmedian 4.0x
EV/EBITDA now vs peer median 12.6xmedian 14.4x —median 14.4x 15.3xmedian 14.4x
P/FCF now vs peer median -3.0xmedian 23.3x -59.6xmedian 23.3x 29.1xmedian 23.3x
P/B now vs peer median 0.7xmedian 1.3x 0.8xmedian 1.3x 2.5xmedian 1.3x
PEG now vs peer median -4.34median 1.91 -2.98median 1.91 -2.82median 1.91

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsESBAKRCMAA
Revenue $784.18M $1.09B $2.22B
Operating income -$34.52M – –
Net income $9.26M $47.42M $410.71M
Free cash flow -$437.31M -$70.24M $473.83M
EPS (diluted) $0.02 $0.24 $3.44
Cash & equivalents $85.61M $94.30M $51.84M
Total debt $4.54B $4.38B $21.95B
Shares (diluted) 268.95M 117.24M 116.14M
Enterprise value $871.27M $3.55B $13.70B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricESBAKRCMAA
P/E 259.5x 146.4x 34.5x
P/FCF -3.0x -59.6x 29.1x
P/Operating cash flow 5.8x 8.5x 13.6x
P/S 1.7x 3.9x 6.2x
P/B 0.7x 0.8x 2.5x
P/Tangible book 0.7x 0.8x 2.5x
EV/EBITDA 12.6x – 15.3x
EV/EBIT -63.2x – 31.4x
EV/Revenue 2.8x 7.8x 8.8x
EV/FCF -5.0x -120.1x 41.0x
EV/Operating cash flow 9.6x 17.1x 19.2x
PEG (3Y EPS CAGR) -4.34 -2.98 -2.82

Growth

14 metrics
MetricESBAKRCMAA
Revenue growth (1Y) 2.0% -3.6% 0.8%
Revenue CAGR (3Y) 2.9% -1.7% 1.6%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) -123.1% – –
Operating income CAGR (3Y) -31.0% – –
Net income growth (1Y) -86.5% -86.5% -30.0%
Net income CAGR (3Y) -51.3% -42.1% -12.5%
EPS growth (1Y) -92.1% -91.0% -29.0%
EPS CAGR (3Y) -59.8% -49.1% -12.2%
Operating cash flow growth (1Y) -13.3% -12.6% -8.0%
Operating cash flow CAGR (3Y) -0.8% -6.3% -4.2%
Free cash flow growth (1Y) -169.4% -237.0% -12.0%
Free cash flow CAGR (3Y) -149.9% -52.0% -4.5%

Profitability

14 metrics
MetricESBAKRCMAA
Gross margin – – –
EBITDA margin 22.1% – 57.1%
Operating margin -4.4% – –
Pretax margin 1.3% – 18.8%
Net margin 0.6% 2.6% 18.0%
FCF margin -55.8% -6.5% 21.4%
Operating cash flow margin 29.0% 45.5% 45.6%
Return on equity 0.5% 0.9% 7.3%
Return on assets 0.2% 0.4% 3.4%
Return on invested capital -1.1% – 5.3%
Return on capital employed – – –
Asset turnover 0.2x 0.1x 0.2x
Cash conversion (OCF / net income) 24.6x 10.4x 2.5x
Stock comp / revenue 3.9% 1.5% 0.9%

Financial Health

11 metrics
MetricESBAKRCMAA
Debt / assets 22.4% 41.8% 47.5%
Debt / equity 0.5x 0.8x 1.0x
Net debt / EBITDA 5.0x – 4.5x
Debt / FCF -2.2x -62.3x 12.0x
Liabilities / assets 58.1% 48.4% 53.5%
Equity / assets 41.9% 51.6% 46.5%
Interest coverage -0.3x – 3.1x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricESBAKRCMAA
Dividend yield 3.3% 6.0% 5.2%
Net buyback yield – 1.7% 0.9%
Shareholder yield 3.3% 7.7% 6.0%
Payout ratio (earnings) – 539.6% 173.3%
Payout ratio (FCF) – -364.3% 150.2%
Dividend growth (1Y) – -0.7% 2.0%
Dividend CAGR (3Y) – 0.1% 5.1%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusESBAKRCMAA
Forward P/E – 156.4xFY2026 33.3xFY2026
EPS, next fiscal year – $0.23FY2026 $3.57FY2026
EPS growth, next FY – -90.1%FY2026 -5.6%FY2026
EPS growth, the year after – +82.6% -9.0%
Revenue, next fiscal year – $1.13BFY2026 $2.29BFY2026
Revenue growth, next FY – +2.1%FY2026 +3.8%FY2026
Revenue growth, the year after – +0.9% +1.5%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersESBAKRCMAA
Held by institutions – 100.0% 97.1%
Institutions holding – 385 771
Change in shares held, QoQ – +0.0% +8.2%
Institutions buying – 212 395
Institutions selling – 121 262
Buyers to sellers – 1.75 1.51

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ESBAKRCMAA
ESBA 1.00 0.14 0.18
KRC 0.14 1.00 0.38
MAA 0.18 0.38 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ESBA, KRC and MAA?

Mid America Apartment Communities (MAA) is the largest by market capitalisation: Empire State Realty OP (ESBA) $1.31B, Kilroy Realty (KRC) $4.18B, Mid America Apartment Communities (MAA) $13.78B.

Which stock is cheaper, ESBA, KRC and MAA?

Mid America Apartment Communities (MAA) trades on the lowest price-to-earnings ratio (Empire State Realty OP (ESBA) 259.5x, Kilroy Realty (KRC) 146.4x, Mid America Apartment Communities (MAA) 34.5x). On next year's consensus earnings, Mid America Apartment Communities (MAA) is cheapest (Kilroy Realty (KRC) 156.4x, Mid America Apartment Communities (MAA) 33.3x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Empire State Realty OP (ESBA) grew revenue fastest over the trailing twelve months: Empire State Realty OP (ESBA) +2.0%, Kilroy Realty (KRC) -3.6%, Mid America Apartment Communities (MAA) +0.8%.

Which company is more profitable?

Mid America Apartment Communities (MAA) has the highest net margin (Empire State Realty OP (ESBA) 0.6%, Kilroy Realty (KRC) 2.6%, Mid America Apartment Communities (MAA) 18.0%). On return on invested capital, Mid America Apartment Communities (MAA) leads (Empire State Realty OP (ESBA) -1.1%, Mid America Apartment Communities (MAA) 5.3%).

Which stock has performed better?

Over the past year Mid America Apartment Communities (MAA) returned the most: Empire State Realty OP (ESBA) -36.1%, Kilroy Realty (KRC) -12.8%, Mid America Apartment Communities (MAA) -10.7%. Over five years, Mid America Apartment Communities (MAA) compounded fastest (Empire State Realty OP (ESBA) -13.2%/yr, Kilroy Realty (KRC) -12.0%/yr, Mid America Apartment Communities (MAA) -10.5%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Kilroy Realty (KRC) has the highest dividend yield: Empire State Realty OP (ESBA) 3.28%, Kilroy Realty (KRC) 6.00%, Mid America Apartment Communities (MAA) 5.15%.

Which stock is riskier?

By one-year price volatility, Mid America Apartment Communities (MAA) has been the steadiest (Empire State Realty OP (ESBA) 51.7%, Kilroy Realty (KRC) 29.2%, Mid America Apartment Communities (MAA) 19.8%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ESBA, KRC and MAA?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Mid America Apartment Communities (MAA) leads on 10. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.