ESRT vs KRC vs MANU Stock Comparison

Empire State Realty Trust, Kilroy Realty and Manchester United 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
5 wins
MANU Manchester United plc
$20.68 +1.5% 1M +13.4% 1Y
Market cap
$3.60B
P/E
–
Revenue (TTM)
$909.31M
Div. yield
–
Entertainment Venues Consumer Discretionary
6 wins

Head to Head

11 decided of 12

Manchester United leads on 6 of the 12 questions below (Manchester United 6, Kilroy Realty 5). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionESRTKRCMANULeader
Larger companyMarket capitalisation $864.10M $4.18B $3.60B KRC
Cheaper on earningsLower P/E, profitable companies only 280.0x 146.4x -61.6x KRC
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 156.4x — –
Faster revenue growthRevenue growth, trailing twelve months +2.0% -3.6% +5.5% MANU
More profitableNet margin, trailing twelve months 0.4% 2.6% -6.4% KRC
Better return on capitalReturn on invested capital -1.1% — 2.6% MANU
Less leveragedLower net debt / EBITDA 5.0x — 2.4x MANU
Higher dividend yieldTrailing dividend yield 3.08% 6.00% 0.00% KRC
Better 1-year returnPrice return, last 12 months -36.8% -12.8% +13.4% MANU
Better 5-year returnAnnualised price return, 5 years -12.8%/yr -12.0%/yr +4.9%/yr MANU
Less volatileAnnualised volatility, 1 year 36.6% 29.2% 33.6% KRC
Higher overall scoreMean of the five percentile scores vs peers 35/100 44/100 46/100 MANU

Percentile Scorecard

ESRTKRCMANU

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

AxisESRTKRCMANU
Valuation 78 #33 of 145 71 #43 of 145 30 #31 of 44
Growth 1 #139 of 141 1 #140 of 141 76 #11 of 43
Profitability 26 #99 of 134 45 #74 of 134 53 #20 of 41
Financial Health 57 #60 of 138 64 #50 of 138 24 #36 of 47
Shareholder Returns 13 #114 of 131 42 #77 of 131 –
Overall 35 44 46
  • ESRT ranked among 149 companies in Property REITs
  • KRC ranked among 149 companies in Property REITs
  • MANU ranked among 48 companies in Gaming and Leisure

Price Performance

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

Returns

PeriodESRTKRCMANUSPY
1 month +22.4%+5.2%+1.5% -0.2%
3 months -11.1%-7.0%-11.5% +3.9%
6 months -12.2%+5.5%+18.3% +8.2%
Year to date -22.9%-3.7%+29.9% +12.9%
1 year -36.8%-12.8%+13.4% +12.3%
3 years -37.3%+30.3%+16.9% +87.4%
3 years, per year -14.4%+9.2%+5.3% +23.3%
5 years -49.6%-47.1%+26.9% +67.9%
5 years, per year -12.8%-12.0%+4.9% +10.9%
10 years -74.0%-49.0%+34.7% +261.1%
10 years, per year -12.6%-6.5%+3.0% +13.7%

Risk

MeasureESRTKRCMANUSPY
Volatility, 1Y 36.6%29.2%33.6% 12.7%
Downside volatility, 1Y 41.8%30.1%32.0% 12.7%
Beta vs S&P 500, 1Y 0.320.560.67 1.00
Return / volatility, 1Y -1.01-0.440.40 0.97
Max drawdown, 5Y -65.6%-67.0%-54.5% -25.4%
From 52-week high -36.8%-17.2%-14.5% -1.2%
52-week high $7.96$43.48$24.19 $779.14
52-week low $3.93$27.72$15.20 $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.

MultipleESRTKRCMANU
P/E now vs peer median 280.0xmedian 26.3x 146.4xmedian 26.3x -61.6xmedian 17.0x
P/S now vs peer median 1.1xmedian 4.0x 3.9xmedian 4.0x 4.0xmedian 1.9x
EV/EBITDA now vs peer median 10.0xmedian 14.4x —median 14.4x 12.9xmedian 10.8x
P/FCF now vs peer median -2.0xmedian 23.3x -59.6xmedian 23.3x 9.9xmedian 11.2x
P/B now vs peer median 0.5xmedian 1.3x 0.8xmedian 1.3x 18.1xmedian 2.4x
PEG now vs peer median -4.68median 1.91 -2.98median 1.91 3.64median 0.56

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 monthsESRTKRCMANU
Revenue $784.18M $1.09B $909.31M
Gross profit – – -$21.12M
Operating income -$34.52M – $30.28M
Net income $9.26M $47.42M -$57.81M
Free cash flow -$437.31M -$70.24M $363.93M
EPS (diluted) $0.01 $0.24 $-0.34
Cash & equivalents $85.61M $94.30M $89.13M
Total debt $4.54B $4.38B $3.96B
Shares (diluted) 268.95M 117.24M 172.43M
Enterprise value $1.14B $3.55B $3.26B

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
MetricESRTKRCMANU
P/E 280.0x 146.4x -61.6x
P/FCF -2.0x -59.6x 9.9x
P/Operating cash flow 3.8x 8.5x 14.2x
P/S 1.1x 3.9x 4.0x
P/B 0.5x 0.8x 18.1x
P/Tangible book 0.5x 0.8x 18.1x
EV/EBITDA 10.0x – 12.9x
EV/EBIT -50.2x – 146.2x
EV/Revenue 2.2x 7.8x 4.9x
EV/FCF -4.0x -120.1x 12.2x
EV/Operating cash flow 7.6x 17.1x 17.5x
PEG (3Y EPS CAGR) -4.68 -2.98 3.64

Growth

14 metrics
MetricESRTKRCMANU
Revenue growth (1Y) 2.0% -3.6% 5.5%
Revenue CAGR (3Y) 2.9% -1.7% 5.2%
Gross profit growth (1Y) – – 24.6%
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) -123.1% – 223.3%
Operating income CAGR (3Y) -31.0% – 62.2%
Net income growth (1Y) -86.5% -86.5% -36.0%
Net income CAGR (3Y) -51.3% -42.1% -19.1%
EPS growth (1Y) -92.4% -91.0% -35.3%
EPS CAGR (3Y) -59.8% -49.1% -16.9%
Operating cash flow growth (1Y) -13.3% -12.6% 128.3%
Operating cash flow CAGR (3Y) -0.8% -6.3% 22.8%
Free cash flow growth (1Y) -169.4% -237.0% 141.3%
Free cash flow CAGR (3Y) -149.9% -52.0% 34.6%

Profitability

14 metrics
MetricESRTKRCMANU
Gross margin – – -2.3%
EBITDA margin 22.1% – 37.6%
Operating margin -4.4% – 3.3%
Pretax margin 1.3% – -7.0%
Net margin 0.4% 2.6% -6.4%
FCF margin -55.8% -6.5% 40.0%
Operating cash flow margin 29.0% 45.5% 27.8%
Return on equity 0.5% 0.9% -26.5%
Return on assets 0.2% 0.4% -2.8%
Return on invested capital -1.1% – 2.6%
Return on capital employed – – 2.5%
Asset turnover 0.2x 0.1x 0.4x
Cash conversion (OCF / net income) 24.6x 10.4x -4.4x
Stock comp / revenue 3.9% 1.5% 0.0%

Financial Health

11 metrics
MetricESRTKRCMANU
Debt / assets 22.4% 41.8% 44.5%
Debt / equity 0.5x 0.8x 4.6x
Net debt / EBITDA 5.0x – 2.4x
Debt / FCF -2.2x -62.3x 2.5x
Liabilities / assets 58.1% 48.4% 90.3%
Equity / assets 41.9% 51.6% 9.7%
Interest coverage -0.3x – 0.5x
Current ratio – – 0.3x
Quick ratio – – 0.2x
Cash ratio – – 0.1x
Altman Z-score – – 0.97

Shareholder Returns

7 metrics
MetricESRTKRCMANU
Dividend yield 3.1% 6.0% –
Net buyback yield – 1.7% –
Shareholder yield 3.1% 7.7% 0.0%
Payout ratio (earnings) 259.1% 539.6% –
Payout ratio (FCF) -5.5% -364.3% –
Dividend growth (1Y) 2.2% -0.7% –
Dividend CAGR (3Y) 1.9% 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.

ConsensusESRTKRCMANU
Forward P/E – 156.4xFY2026 –
EPS, next fiscal year $-0.35FY2027 $0.23FY2026 $-0.18FY2027
EPS growth, next FY -240.0%FY2027 -90.1%FY2026 –
EPS growth, the year after – +82.6% –
Revenue, next fiscal year $758.24MFY2026 $1.13BFY2026 $1.07BFY2027
Revenue growth, next FY -1.3%FY2026 +2.1%FY2026 +19.6%FY2027
Revenue growth, the year after +4.5% +0.9% -6.0%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersESRTKRCMANU
Held by institutions 83.6% 100.0% 17.1%
Institutions holding 228 385 125
Change in shares held, QoQ +0.4% +0.0% +5.0%
Institutions buying 141 212 63
Institutions selling 51 121 30
Buyers to sellers 2.76 1.75 2.10

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.

ESRTKRCMANU
ESRT 1.00 0.38 0.22
KRC 0.38 1.00 0.22
MANU 0.22 0.22 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ESRT, KRC and MANU?

Kilroy Realty (KRC) is the largest by market capitalisation: Empire State Realty Trust (ESRT) $864.10M, Kilroy Realty (KRC) $4.18B, Manchester United (MANU) $3.60B.

Which stock is cheaper, ESRT, KRC and MANU?

Kilroy Realty (KRC) trades on the lowest price-to-earnings ratio (Empire State Realty Trust (ESRT) 280.0x, Kilroy Realty (KRC) 146.4x, Manchester United (MANU) -61.6x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Manchester United (MANU) grew revenue fastest over the trailing twelve months: Empire State Realty Trust (ESRT) +2.0%, Kilroy Realty (KRC) -3.6%, Manchester United (MANU) +5.5%.

Which company is more profitable?

Kilroy Realty (KRC) has the highest net margin (Empire State Realty Trust (ESRT) 0.4%, Kilroy Realty (KRC) 2.6%, Manchester United (MANU) -6.4%). On return on invested capital, Manchester United (MANU) leads (Empire State Realty Trust (ESRT) -1.1%, Manchester United (MANU) 2.6%).

Which stock has performed better?

Over the past year Manchester United (MANU) returned the most: Empire State Realty Trust (ESRT) -36.8%, Kilroy Realty (KRC) -12.8%, Manchester United (MANU) +13.4%. Over five years, Manchester United (MANU) compounded fastest (Empire State Realty Trust (ESRT) -12.8%/yr, Kilroy Realty (KRC) -12.0%/yr, Manchester United (MANU) +4.9%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Kilroy Realty (KRC) has the highest dividend yield: Empire State Realty Trust (ESRT) 3.08%, Kilroy Realty (KRC) 6.00%, Manchester United (MANU) 0.00%. Manchester United (MANU) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Kilroy Realty (KRC) has been the steadiest (Empire State Realty Trust (ESRT) 36.6%, Kilroy Realty (KRC) 29.2%, Manchester United (MANU) 33.6%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ESRT, KRC and MANU?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Manchester United (MANU) leads on 6. 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.