KRC vs VNO vs CUZ Stock Comparison

Kilroy Realty, Vornado Realty Trust and Cousins Properties Prices as of Oct 27, 2026 Peers: Industry group
KRC Kilroy Realty Corp
$35.98 +5.2% 1M -12.8% 1Y
Market cap
$4.12B
P/E
144.0x
Revenue (TTM)
$1.09B
Div. yield
0.06%
Office REITs Real Estate
4 wins
VNO Vornado Realty Trust
$34.33 -1.1% 1M -12.4% 1Y
Market cap
$6.43B
P/E
1,112x
Revenue (TTM)
$1.83B
Div. yield
–
Office REITs Real Estate
3 wins
CUZ Cousins Properties Inc
$28.86 +0.7% 1M +8.0% 1Y
Market cap
$4.69B
P/E
729.7x
Revenue (TTM)
$1.03B
Div. yield
0.05%
Office REITs Real Estate
4 wins

Head to Head

11 decided of 12

Kilroy Realty leads on 4 of the 12 questions below (Kilroy Realty 4, Cousins Properties 4, Vornado Realty Trust 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionKRCVNOCUZLeader
Larger companyMarket capitalisation $4.12B $6.43B $4.69B VNO
Cheaper on earningsLower P/E, profitable companies only 144.0x 1,112x 729.7x KRC
Cheaper on forward earningsLower price / next fiscal year consensus EPS 156.4x — 137.4x CUZ
Faster revenue growthRevenue growth, trailing twelve months -3.6% +1.4% +11.9% CUZ
More profitableNet margin, trailing twelve months 2.6% 0.3% 0.6% KRC
Better return on capitalReturn on invested capital — 2.3% — –
Less leveragedLower net debt / EBITDA — 7.1x 34.6x VNO
Higher dividend yieldTrailing dividend yield 0.06% 0.00% 0.05% KRC
Better 1-year returnPrice return, last 12 months -12.8% -12.4% +8.0% CUZ
Better 5-year returnAnnualised price return, 5 years -12.0%/yr -4.6%/yr -6.3%/yr VNO
Less volatileAnnualised volatility, 1 year 29.2% 32.7% 27.1% CUZ
Higher overall scoreMean of the five percentile scores vs peers 44/100 29/100 29/100 KRC

Percentile Scorecard

KRCVNOCUZ

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

AxisKRCVNOCUZ
Valuation 71 #43 of 145 24 #111 of 145 30 #102 of 145
Growth 1 #140 of 141 13 #123 of 141 29 #101 of 141
Profitability 45 #74 of 134 38 #84 of 134 31 #93 of 134
Financial Health 64 #50 of 138 33 #93 of 138 37 #88 of 138
Shareholder Returns 42 #77 of 131 39 #81 of 131 19 #106 of 131
Overall 44 29 29
  • KRC ranked among 149 companies in Property REITs
  • VNO ranked among 149 companies in Property REITs
  • CUZ ranked among 149 companies in Property REITs

Price Performance

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

Returns

PeriodKRCVNOCUZSPY
1 month +5.2%-1.1%+0.7% -0.2%
3 months -7.0%-14.3%-9.0% +3.9%
6 months +5.5%+13.3%+12.7% +8.2%
Year to date -3.7%+3.2%+11.9% +12.9%
1 year -12.8%-12.4%+8.0% +12.3%
3 years +30.3%+75.8%+61.4% +87.4%
3 years, per year +9.2%+20.7%+17.3% +23.3%
5 years -47.1%-21.0%-27.6% +67.9%
5 years, per year -12.0%-4.6%-6.3% +10.9%
10 years -49.0%-53.7%-6.2% +261.1%
10 years, per year -6.5%-7.4%-0.6% +13.7%

Risk

MeasureKRCVNOCUZSPY
Volatility, 1Y 29.2%32.7%27.1% 12.7%
Downside volatility, 1Y 30.1%33.5%28.8% 12.7%
Beta vs S&P 500, 1Y 0.560.990.59 1.00
Return / volatility, 1Y -0.44-0.380.30 0.97
Max drawdown, 5Y -67.0%-73.6%-58.2% -25.4%
From 52-week high -17.2%-16.1%-10.7% -1.2%
52-week high $43.48$40.91$32.30 $779.14
52-week low $27.72$24.71$21.34 $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.

MultipleKRCVNOCUZ
P/E now vs peer median 146.4xmedian 26.3x 1,112xmedian 26.3x 739.2xmedian 26.3x
P/S now vs peer median 3.9xmedian 4.0x 3.5xmedian 4.0x 4.6xmedian 4.0x
EV/EBITDA now vs peer median —median 14.4x 13.8xmedian 14.4x 78.6xmedian 14.4x
P/FCF now vs peer median -59.6xmedian 23.3x -15.4xmedian 23.3x -12.8xmedian 23.3x
P/B now vs peer median 0.8xmedian 1.3x 1.1xmedian 1.3x 1.1xmedian 1.3x
PEG now vs peer median -2.98median 1.91 42.32median 1.91 -11.21median 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 monthsKRCVNOCUZ
Revenue $1.09B $1.83B $1.03B
Gross profit – – $704.58M
Operating income – – -$322.93M
Net income $47.42M $49.20M $6.88M
Free cash flow -$70.24M -$416.33M -$369.91M
EPS (diluted) $0.24 $0.03 $0.04
Cash & equivalents $94.30M $675.35M $6.70M
Total debt $4.38B $7.44B $3.73B
Shares (diluted) 117.24M 194.20M 165.29M
Enterprise value $3.27B $2.82B $4.66B

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
MetricKRCVNOCUZ
P/E 146.4x 1,112x 739.2x
P/FCF -59.6x -15.4x -12.8x
P/Operating cash flow 8.5x 16.4x 11.0x
P/S 3.9x 3.5x 4.6x
P/B 0.8x 1.1x 1.1x
P/Tangible book 0.8x 1.1x 1.1x
EV/EBITDA – 13.8x 78.6x
EV/EBIT – 32.8x -26.2x
EV/Revenue 7.8x 7.2x 8.2x
EV/FCF -120.1x -31.7x -22.9x
EV/Operating cash flow 17.1x 33.7x 19.6x
PEG (3Y EPS CAGR) -2.98 42.32 -11.21

Growth

14 metrics
MetricKRCVNOCUZ
Revenue growth (1Y) -3.6% 1.4% 11.9%
Revenue CAGR (3Y) -1.7% 0.1% 9.1%
Gross profit growth (1Y) – – 11.0%
Gross profit CAGR (3Y) – – 10.2%
Operating income growth (1Y) – – -45.3%
Operating income CAGR (3Y) – – -21.9%
Net income growth (1Y) -86.5% -94.6% -88.7%
Net income CAGR (3Y) -42.1% 28.4% -64.2%
EPS growth (1Y) -91.0% -99.3% -89.1%
EPS CAGR (3Y) -49.1% 26.3% -65.9%
Operating cash flow growth (1Y) -12.6% -71.9% 4.4%
Operating cash flow CAGR (3Y) -6.3% -19.3% 5.4%
Free cash flow growth (1Y) -237.0% -145.3% 47.5%
Free cash flow CAGR (3Y) -52.0% -66.0% -98.0%

Profitability

14 metrics
MetricKRCVNOCUZ
Gross margin – – 68.1%
EBITDA margin – 52.0% 10.4%
Operating margin – – -31.2%
Pretax margin – 2.9% -48.2%
Net margin 2.6% 0.3% 0.6%
FCF margin -6.5% -22.8% -35.7%
Operating cash flow margin 45.5% 21.4% 41.7%
Return on equity 0.9% 0.7% 0.2%
Return on assets 0.4% 0.3% 0.1%
Return on invested capital – 2.3% –
Return on capital employed – – –
Asset turnover 0.1x 0.1x 0.1x
Cash conversion (OCF / net income) 10.4x 7.9x 62.8x
Stock comp / revenue 1.5% 1.4% 1.6%

Financial Health

11 metrics
MetricKRCVNOCUZ
Debt / assets 41.8% 47.7% 41.3%
Debt / equity 0.8x 1.2x 0.8x
Net debt / EBITDA – 7.1x 34.6x
Debt / FCF -62.3x -17.9x -10.1x
Liabilities / assets 48.4% 61.8% 50.3%
Equity / assets 51.6% 38.2% 49.7%
Interest coverage – 1.2x -1.8x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricKRCVNOCUZ
Dividend yield 6.0% 2.2% 4.4%
Net buyback yield 1.7% 2.1% –
Shareholder yield 7.7% 4.2% 4.4%
Payout ratio (earnings) 539.6% – 3,132%
Payout ratio (FCF) -364.3% – -58.2%
Dividend growth (1Y) -0.7% – 4.8%
Dividend CAGR (3Y) 0.1% – 3.2%

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.

ConsensusKRCVNOCUZ
Forward P/E 156.4xFY2026 – 137.4xFY2026
EPS, next fiscal year $0.23FY2026 $-0.40FY2026 $0.21FY2026
EPS growth, next FY -90.1%FY2026 -109.5%FY2026 -12.5%FY2026
EPS growth, the year after +82.6% – +128.6%
Revenue, next fiscal year $1.13BFY2026 $1.78BFY2026 $1.04BFY2026
Revenue growth, next FY +2.1%FY2026 -1.9%FY2026 +5.6%FY2026
Revenue growth, the year after +0.9% +24.9% +10.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersKRCVNOCUZ
Held by institutions 100.0% 99.2% 100.0%
Institutions holding 385 433 393
Change in shares held, QoQ +0.0% +14.6% +0.6%
Institutions buying 212 233 200
Institutions selling 121 126 139
Buyers to sellers 1.75 1.85 1.44

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.

KRCVNOCUZ
KRC 1.00 0.71 0.72
VNO 0.71 1.00 0.73
CUZ 0.72 0.73 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, KRC, VNO and CUZ?

Vornado Realty Trust (VNO) is the largest by market capitalisation: Kilroy Realty (KRC) $4.12B, Vornado Realty Trust (VNO) $6.43B, Cousins Properties (CUZ) $4.69B.

Which stock is cheaper, KRC, VNO and CUZ?

Kilroy Realty (KRC) trades on the lowest price-to-earnings ratio (Kilroy Realty (KRC) 144.0x, Vornado Realty Trust (VNO) 1,112x, Cousins Properties (CUZ) 729.7x). On next year's consensus earnings, Cousins Properties (CUZ) is cheapest (Kilroy Realty (KRC) 156.4x, Cousins Properties (CUZ) 137.4x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Cousins Properties (CUZ) grew revenue fastest over the trailing twelve months: Kilroy Realty (KRC) -3.6%, Vornado Realty Trust (VNO) +1.4%, Cousins Properties (CUZ) +11.9%.

Which company is more profitable?

Kilroy Realty (KRC) has the highest net margin (Kilroy Realty (KRC) 2.6%, Vornado Realty Trust (VNO) 0.3%, Cousins Properties (CUZ) 0.6%).

Which stock has performed better?

Over the past year Cousins Properties (CUZ) returned the most: Kilroy Realty (KRC) -12.8%, Vornado Realty Trust (VNO) -12.4%, Cousins Properties (CUZ) +8.0%. Over five years, Vornado Realty Trust (VNO) compounded fastest (Kilroy Realty (KRC) -12.0%/yr, Vornado Realty Trust (VNO) -4.6%/yr, Cousins Properties (CUZ) -6.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Kilroy Realty (KRC) has the highest dividend yield: Kilroy Realty (KRC) 0.06%, Vornado Realty Trust (VNO) 0.00%, Cousins Properties (CUZ) 0.05%. Vornado Realty Trust (VNO) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Cousins Properties (CUZ) has been the steadiest (Kilroy Realty (KRC) 29.2%, Vornado Realty Trust (VNO) 32.7%, Cousins Properties (CUZ) 27.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, KRC, VNO and CUZ?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Kilroy Realty (KRC) leads on 4. 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.