ESBA vs MAA vs KRC Stock Comparison

Empire State Realty OP, Mid America Apartment Communities and Kilroy Realty Prices as of Nov 3, 2026 Peers: Industry group
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KRC Kilroy Realty Corp
$36.04 +7.2% 1M -14.7% 1Y
Market cap
$4.40B
P/E
153.9x
Revenue (TTM)
$1.09B
Div. yield
0.06%
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.

QuestionESBAMAAKRCLeader
Larger companyMarket capitalisation $1.35B $14.15B $4.40B MAA
Cheaper on earningsLower P/E, profitable companies only 267.8x 36.9x 153.9x MAA
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 32.9x 156.7x MAA
Faster revenue growthRevenue growth, trailing twelve months +2.0% +1.0% -3.6% ESBA
More profitableNet margin, trailing twelve months 0.6% 17.3% 2.6% MAA
Better return on capitalReturn on invested capital -1.1% 5.3% — MAA
Less leveragedLower net debt / EBITDA 5.0x 4.6x — MAA
Higher dividend yieldTrailing dividend yield 0.00% 0.05% 0.06% KRC
Better 1-year returnPrice return, last 12 months -32.4% -8.0% -14.7% MAA
Better 5-year returnAnnualised price return, 5 years -12.9%/yr -10.2%/yr -12.0%/yr MAA
Less volatileAnnualised volatility, 1 year 50.4% 19.5% 29.2% MAA
Higher overall scoreMean of the five percentile scores vs peers 35/100 49/100 46/100 MAA

Percentile Scorecard

ESBAMAAKRC

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

AxisESBAMAAKRC
Valuation 69 #46 of 146 44 #82 of 146 73 #40 of 146
Growth 3 #141 of 145 13 #126 of 145 1 #143 of 145
Profitability 28 #102 of 141 83 #25 of 141 46 #76 of 141
Financial Health 59 #60 of 146 58 #62 of 146 65 #52 of 146
Shareholder Returns 16 #115 of 136 49 #70 of 136 42 #79 of 136
Overall 35 49 46
  • ESBA ranked among 149 companies in Property REITs
  • MAA ranked among 149 companies in Property REITs
  • KRC ranked among 149 companies in Property REITs

Price Performance

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

Returns

PeriodESBAMAAKRCSPY
1 month +28.1%+1.8%+7.2% -2.0%
3 months +4.7%-11.9%-8.4% -2.2%
6 months -9.4%-9.8%+7.5% +4.2%
Year to date -21.7%-15.5%-3.6% +10.6%
1 year -32.4%-8.0%-14.7% +10.4%
3 years -46.2%-5.6%+14.4% +73.6%
3 years, per year -18.7%-1.9%+4.6% +20.2%
5 years -49.9%-41.5%-47.2% +61.6%
5 years, per year -12.9%-10.2%-12.0% +10.1%
10 years -73.7%+25.3%-47.2% +261.3%
10 years, per year -12.5%+2.3%-6.2% +13.7%

Risk

MeasureESBAMAAKRCSPY
Volatility, 1Y 50.4%19.5%29.2% 12.8%
Downside volatility, 1Y 58.4%18.7%29.9% 12.8%
Beta vs S&P 500, 1Y 0.330.060.55 1.00
Return / volatility, 1Y -0.64-0.41-0.50 0.81
Max drawdown, 5Y -66.4%-50.2%-67.0% -25.4%
From 52-week high -34.4%-17.5%-17.1% -3.2%
52-week high $7.52$142.19$43.48 $779.14
52-week low $3.85$114.20$27.72 $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.

MultipleESBAMAAKRC
P/E now vs peer median 262.2xmedian 26.1x 35.4xmedian 26.1x 146.6xmedian 26.1x
P/S now vs peer median 1.7xmedian 4.1x 6.1xmedian 4.1x 3.9xmedian 4.1x
EV/EBITDA now vs peer median 12.6xmedian 14.4x 15.3xmedian 14.4x —median 14.4x
P/FCF now vs peer median -3.0xmedian 21.6x 25.5xmedian 21.6x -59.7xmedian 21.6x
P/B now vs peer median 0.7xmedian 1.3x 2.5xmedian 1.3x 0.8xmedian 1.3x
PEG now vs peer median -4.39median 1.95 -2.77median 1.95 -2.98median 1.95

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 monthsESBAMAAKRC
Revenue $784.18M $2.22B $1.09B
Operating income -$34.52M – –
Net income $9.26M $394.48M $47.42M
Free cash flow -$437.31M $534.81M -$70.24M
EPS (diluted) $0.02 $3.31 $0.24
Cash & equivalents $85.61M $25.69M $94.30M
Total debt $955.23M $5.84B $4.38B
Shares (diluted) 268.95M 115.95M 117.24M
Enterprise value $912.87M $13.94B $3.55B

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
MetricESBAMAAKRC
P/E 262.2x 35.4x 146.6x
P/FCF -3.0x 25.5x -59.7x
P/Operating cash flow 5.8x 13.6x 8.5x
P/S 1.7x 6.1x 3.9x
P/B 0.7x 2.5x 0.8x
P/Tangible book 0.7x 2.5x 0.8x
EV/EBITDA 12.6x 15.3x –
EV/EBIT -63.6x 31.8x –
EV/Revenue 2.8x 8.7x 7.8x
EV/FCF -5.0x 36.3x -120.2x
EV/Operating cash flow 9.6x 19.4x 17.1x
PEG (3Y EPS CAGR) -4.39 -2.77 -2.98

Growth

14 metrics
MetricESBAMAAKRC
Revenue growth (1Y) 2.0% 1.0% -3.6%
Revenue CAGR (3Y) 2.9% 1.4% -1.7%
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% -30.8% -86.5%
Net income CAGR (3Y) -51.3% -13.1% -42.1%
EPS growth (1Y) -92.1% -29.8% -91.0%
EPS CAGR (3Y) -59.8% -12.8% -49.1%
Operating cash flow growth (1Y) -13.3% -5.1% -12.6%
Operating cash flow CAGR (3Y) -0.8% -3.8% -6.3%
Free cash flow growth (1Y) -169.4% 8.0% -237.0%
Free cash flow CAGR (3Y) -149.9% -10.8% -52.0%

Profitability

14 metrics
MetricESBAMAAKRC
Gross margin – – –
EBITDA margin 22.1% 57.0% –
Operating margin -4.4% – –
Pretax margin 1.3% 18.1% –
Net margin 0.6% 17.3% 2.6%
FCF margin -55.8% 24.0% -6.5%
Operating cash flow margin 29.0% 45.0% 45.5%
Return on equity 0.5% 7.2% 0.9%
Return on assets 0.2% 3.3% 0.4%
Return on invested capital -1.1% 5.3% –
Return on capital employed – – –
Asset turnover 0.2x 0.2x 0.1x
Cash conversion (OCF / net income) 24.6x 2.5x 10.4x
Stock comp / revenue 3.9% 0.9% 1.5%

Financial Health

11 metrics
MetricESBAMAAKRC
Debt / assets 22.4% 48.5% 41.8%
Debt / equity 0.5x 1.1x 0.8x
Net debt / EBITDA 5.0x 4.6x –
Debt / FCF -2.2x 10.9x -62.3x
Liabilities / assets 58.1% 54.9% 48.4%
Equity / assets 41.9% 45.1% 51.6%
Interest coverage -0.3x 2.9x –
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricESBAMAAKRC
Dividend yield 3.2% 5.2% 6.0%
Net buyback yield – 1.1% 1.7%
Shareholder yield 3.2% 6.4% 7.7%
Payout ratio (earnings) – 180.4% 539.6%
Payout ratio (FCF) – 133.1% -364.3%
Dividend growth (1Y) – 1.2% -0.7%
Dividend CAGR (3Y) – 4.0% 0.1%

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.

ConsensusESBAMAAKRC
Forward P/E – 32.9xFY2026 156.7xFY2026
EPS, next fiscal year – $3.57FY2026 $0.23FY2026
EPS growth, next FY – -5.6%FY2026 -90.1%FY2026
EPS growth, the year after – -9.0% +82.6%
Revenue, next fiscal year – $2.29BFY2026 $1.13BFY2026
Revenue growth, next FY – +3.8%FY2026 +2.1%FY2026
Revenue growth, the year after – +1.5% +0.9%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersESBAMAAKRC
Held by institutions – 97.1% 100.0%
Institutions holding – 773 386
Change in shares held, QoQ – +8.2% +0.0%
Institutions buying – 396 213
Institutions selling – 262 121
Buyers to sellers – 1.51 1.76

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.

ESBAMAAKRC
ESBA 1.00 0.22 0.15
MAA 0.22 1.00 0.39
KRC 0.15 0.39 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ESBA, MAA and KRC?

Mid America Apartment Communities (MAA) is the largest by market capitalisation: Empire State Realty OP (ESBA) $1.35B, Mid America Apartment Communities (MAA) $14.15B, Kilroy Realty (KRC) $4.40B.

Which stock is cheaper, ESBA, MAA and KRC?

Mid America Apartment Communities (MAA) trades on the lowest price-to-earnings ratio (Empire State Realty OP (ESBA) 267.8x, Mid America Apartment Communities (MAA) 36.9x, Kilroy Realty (KRC) 153.9x). On next year's consensus earnings, Mid America Apartment Communities (MAA) is cheapest (Mid America Apartment Communities (MAA) 32.9x, Kilroy Realty (KRC) 156.7x). 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%, Mid America Apartment Communities (MAA) +1.0%, Kilroy Realty (KRC) -3.6%.

Which company is more profitable?

Mid America Apartment Communities (MAA) has the highest net margin (Empire State Realty OP (ESBA) 0.6%, Mid America Apartment Communities (MAA) 17.3%, Kilroy Realty (KRC) 2.6%). 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) -32.4%, Mid America Apartment Communities (MAA) -8.0%, Kilroy Realty (KRC) -14.7%. Over five years, Mid America Apartment Communities (MAA) compounded fastest (Empire State Realty OP (ESBA) -12.9%/yr, Mid America Apartment Communities (MAA) -10.2%/yr, Kilroy Realty (KRC) -12.0%/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) 0.00%, Mid America Apartment Communities (MAA) 0.05%, Kilroy Realty (KRC) 0.06%. Empire State Realty OP (ESBA) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Mid America Apartment Communities (MAA) has been the steadiest (Empire State Realty OP (ESBA) 50.4%, Mid America Apartment Communities (MAA) 19.5%, Kilroy Realty (KRC) 29.2%). Volatility measures how widely the price swings, not the risk of the business.

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

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.