OPI vs KRC vs VNO Stock Comparison

Office Properties Income Trust, Kilroy Realty and Vornado Realty Trust Prices as of Oct 28, 2026 Peers: Industry group
KRC Kilroy Realty Corp
$35.54 +4.7% 1M -15.3% 1Y
Market cap
$4.13B
P/E
144.6x
Revenue (TTM)
$1.09B
Div. yield
6.08%
Office REITs Real Estate
5 wins
VNO Vornado Realty Trust
$34.35 +0.7% 1M -12.6% 1Y
Market cap
$6.41B
P/E
1,113x
Revenue (TTM)
$1.83B
Div. yield
2.15%
Office REITs Real Estate
4 wins

Head to Head

9 decided of 12

Kilroy Realty leads on 5 of the 12 questions below (Kilroy Realty 5, Vornado Realty Trust 4). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionOPIKRCVNOLeader
Larger companyMarket capitalisation $989.80M $4.13B $6.41B VNO
Cheaper on earningsLower P/E, profitable companies only — 144.6x 1,113x KRC
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 154.5x — –
Faster revenue growthRevenue growth, trailing twelve months — -3.6% +1.4% VNO
More profitableNet margin, trailing twelve months — 2.6% 0.3% KRC
Better return on capitalReturn on invested capital — — 2.3% –
Less leveragedLower net debt / EBITDA — — 7.1x –
Higher dividend yieldTrailing dividend yield 0.00% 6.08% 2.15% KRC
Better 1-year returnPrice return, last 12 months — -15.3% -12.6% VNO
Better 5-year returnAnnualised price return, 5 years — -12.0%/yr -4.2%/yr VNO
Less volatileAnnualised volatility, 1 year 129.2% 29.2% 32.7% KRC
Higher overall scoreMean of the five percentile scores vs peers — 45/100 28/100 KRC

Percentile Scorecard

OPIKRCVNO

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

AxisOPIKRCVNO
Valuation – 71 #43 of 145 24 #110 of 145
Growth – 1 #141 of 142 13 #124 of 142
Profitability – 46 #74 of 135 37 #85 of 135
Financial Health 96 #6 of 136 64 #49 of 136 33 #91 of 136
Shareholder Returns – 42 #76 of 131 35 #86 of 131
Overall – 45 28
  • OPI ranked among 149 companies in Property REITs
  • KRC ranked among 149 companies in Property REITs
  • VNO ranked among 149 companies in Property REITs

Price Performance

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

Returns

PeriodOPIKRCVNOSPY
1 month -19.2%+4.7%+0.7% +0.9%
3 months -23.3%-9.9%-15.5% +5.9%
6 months —+8.0%+17.0% +8.5%
Year to date —-4.9%+3.2% +13.3%
1 year —-15.3%-12.6% +12.4%
3 years —+28.7%+75.9% +88.1%
3 years, per year —+8.8%+20.7% +23.5%
5 years —-47.3%-19.4% +68.2%
5 years, per year —-12.0%-4.2% +11.0%
10 years —-49.4%-53.4% +263.4%
10 years, per year —-6.6%-7.4% +13.8%

Risk

MeasureOPIKRCVNOSPY
Volatility, 1Y 129.2%29.2%32.7% 12.7%
Downside volatility, 1Y 165.3%30.1%33.5% 12.7%
Beta vs S&P 500, 1Y 2.430.560.99 1.00
Return / volatility, 1Y —-0.52-0.38 0.98
Max drawdown, 5Y -64.2%-67.0%-73.6% -25.4%
From 52-week high -60.5%-18.3%-16.0% -0.9%
52-week high $33.85$43.48$40.91 $779.14
52-week low $12.11$27.72$24.71 $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.

MultipleOPIKRCVNO
P/E now vs peer median —median 25.8x 144.6xmedian 25.8x 1,113xmedian 25.8x
P/S now vs peer median —median 4.0x 3.8xmedian 4.0x 3.5xmedian 4.0x
EV/EBITDA now vs peer median —median 14.2x —median 14.2x 13.9xmedian 14.2x
P/FCF now vs peer median —median 23.0x -58.9xmedian 23.0x -15.4xmedian 23.0x
P/B now vs peer median 0.4xmedian 1.3x 0.8xmedian 1.3x 1.1xmedian 1.3x
PEG now vs peer median —median 1.91 -2.94median 1.91 42.35median 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 monthsOPIKRCVNO
Revenue – $1.09B $1.83B
Net income – $47.42M $49.20M
Free cash flow – -$70.24M -$416.33M
EPS (diluted) – $0.24 $0.03
Cash & equivalents $29.49M $94.30M $675.35M
Total debt $8.15B $4.38B $7.44B
Shares (diluted) 71.28M 117.24M 194.20M
Enterprise value $557.08M $3.50B $3.54B

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
MetricOPIKRCVNO
P/E – 144.6x 1,113x
P/FCF – -58.9x -15.4x
P/Operating cash flow – 8.4x 16.4x
P/S – 3.8x 3.5x
P/B 0.4x 0.8x 1.1x
P/Tangible book 0.4x 0.8x 1.1x
EV/EBITDA – – 13.9x
EV/EBIT – – 32.8x
EV/Revenue – 7.7x 7.2x
EV/FCF – -119.3x -31.7x
EV/Operating cash flow – 17.0x 33.7x
PEG (3Y EPS CAGR) – -2.94 42.35

Growth

14 metrics
MetricOPIKRCVNO
Revenue growth (1Y) – -3.6% 1.4%
Revenue CAGR (3Y) – -1.7% 0.1%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) – – –
Operating income CAGR (3Y) – – –
Net income growth (1Y) – -86.5% -94.6%
Net income CAGR (3Y) – -42.1% 28.4%
EPS growth (1Y) – -91.0% -99.3%
EPS CAGR (3Y) – -49.1% 26.3%
Operating cash flow growth (1Y) – -12.6% -71.9%
Operating cash flow CAGR (3Y) – -6.3% -19.3%
Free cash flow growth (1Y) – -237.0% -145.3%
Free cash flow CAGR (3Y) – -52.0% -66.0%

Profitability

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

Financial Health

11 metrics
MetricOPIKRCVNO
Debt / assets 25.5% 41.8% 47.7%
Debt / equity 0.3x 0.8x 1.2x
Net debt / EBITDA – – 7.1x
Debt / FCF – -62.3x -17.9x
Liabilities / assets 23.8% 48.4% 61.8%
Equity / assets 76.2% 51.6% 38.2%
Interest coverage – – 1.2x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricOPIKRCVNO
Dividend yield – 6.1% 2.2%
Net buyback yield – 1.8% 2.1%
Shareholder yield 0.0% 7.8% 4.2%
Payout ratio (earnings) – 539.6% –
Payout ratio (FCF) – -364.3% –
Dividend growth (1Y) – -0.7% –
Dividend CAGR (3Y) – 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.

ConsensusOPIKRCVNO
Forward P/E – 154.5xFY2026 –
EPS, next fiscal year – $0.23FY2026 $-0.40FY2026
EPS growth, next FY – -90.1%FY2026 -109.5%FY2026
EPS growth, the year after – +82.6% –
Revenue, next fiscal year – $1.13BFY2026 $1.78BFY2026
Revenue growth, next FY – +2.1%FY2026 -1.9%FY2026
Revenue growth, the year after – +0.9% +24.9%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersOPIKRCVNO
Held by institutions 86.0% 100.0% 99.2%
Institutions holding 36 385 433
Change in shares held, QoQ – +0.0% +14.6%
Institutions buying 36 212 233
Institutions selling 0 121 126
Buyers to sellers – 1.75 1.85

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.

OPIKRCVNO
OPI 1.00 -0.03 0.10
KRC -0.03 1.00 0.71
VNO 0.10 0.71 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, OPI, KRC and VNO?

Vornado Realty Trust (VNO) is the largest by market capitalisation: Office Properties Income Trust (OPI) $989.80M, Kilroy Realty (KRC) $4.13B, Vornado Realty Trust (VNO) $6.41B.

Which stock is cheaper, OPI, KRC and VNO?

Kilroy Realty (KRC) trades on the lowest price-to-earnings ratio (Kilroy Realty (KRC) 144.6x, Vornado Realty Trust (VNO) 1,113x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

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

Which company is more profitable?

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

Which stock has performed better?

Over the past year Vornado Realty Trust (VNO) returned the most: Kilroy Realty (KRC) -15.3%, Vornado Realty Trust (VNO) -12.6%. Over five years, Vornado Realty Trust (VNO) compounded fastest (Kilroy Realty (KRC) -12.0%/yr, Vornado Realty Trust (VNO) -4.2%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Kilroy Realty (KRC) has the highest dividend yield: Office Properties Income Trust (OPI) 0.00%, Kilroy Realty (KRC) 6.08%, Vornado Realty Trust (VNO) 2.15%. Office Properties Income Trust (OPI) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Kilroy Realty (KRC) has been the steadiest (Office Properties Income Trust (OPI) 129.2%, Kilroy Realty (KRC) 29.2%, Vornado Realty Trust (VNO) 32.7%). Volatility measures how widely the price swings, not the risk of the business.

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

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 5. 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.