GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Kilroy Realty Corp (NYSE:KRC) » Definitions » Operating Income

Kilroy Realty (Kilroy Realty) Operating Income : $330 Mil (TTM As of Dec. 2023)


View and export this data going back to 1997. Start your Free Trial

What is Kilroy Realty Operating Income?

Kilroy Realty's Operating Income for the three months ended in Dec. 2023 was $75 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $330 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Kilroy Realty's Operating Income for the three months ended in Dec. 2023 was $75 Mil. Kilroy Realty's Revenue for the three months ended in Dec. 2023 was $269 Mil. Therefore, Kilroy Realty's Operating Margin % for the quarter that ended in Dec. 2023 was 27.76%.

Good Sign:

Kilroy Realty Corp operating margin is expanding. Margin expansion is usually a good sign.

Kilroy Realty's 5-Year average Growth Rate for Operating Margin % was 3.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Kilroy Realty's annualized ROC % for the quarter that ended in Dec. 2023 was 2.89%. Kilroy Realty's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 209.32%.


Kilroy Realty Operating Income Historical Data

The historical data trend for Kilroy Realty's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Kilroy Realty Operating Income Chart

Kilroy Realty Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 222.32 239.11 282.67 324.68 329.91

Kilroy Realty Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 81.76 89.44 84.24 81.56 74.68

Kilroy Realty Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $330 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Kilroy Realty  (NYSE:KRC) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Kilroy Realty's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

ROC % (Q: Dec. 2023 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2023 ) + Invested Capital (Q: Dec. 2023 ))/ count )
=298.7 * ( 1 - 0% )/( (10331.712 + 10374.094)/ 2 )
=298.7/10352.903
=2.89 %

where

Invested Capital(Q: Sep. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=11471.121 - 491.085 - ( 897.583 - max(0, 744.273 - 1392.597+897.583))
=10331.712

Invested Capital(Q: Dec. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=11401.045 - 435.619 - ( 794.833 - max(0, 688.621 - 1279.953+794.833))
=10374.094

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Kilroy Realty's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=341.484/( ( (163.705 + max(-715.332, 0)) + (162.579 + max(-664.48, 0)) )/ 2 )
=341.484/( ( 163.705 + 162.579 )/ 2 )
=341.484/163.142
=209.32 %

where Working Capital is:

Working Capital(Q: Sep. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(11.383 + 0 + 17.558) - (491.085 + 253.188 + 1.1368683772162E-13)
=-715.332

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(13.609 + 0 + 10.532) - (435.619 + 253.002 + -1.1368683772162E-13)
=-664.48

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Kilroy Realty's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2023 )/Revenue (Q: Dec. 2023 )
=74.675/269.016
=27.76 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Kilroy Realty Operating Income Related Terms

Thank you for viewing the detailed overview of Kilroy Realty's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.


Kilroy Realty (Kilroy Realty) Business Description

Traded in Other Exchanges
Address
12200 West Olympic Boulevard, Suite 200, Los Angeles, CA, USA, 90064
Kilroy Realty is a premier owner and landlord of approximately 16 million square feet of office space across Los Angeles, San Diego, the San Francisco Bay Area, and greater Seattle. The company operates as a real estate investment trust.
Executives
John Osmond officer: EVP, Head of Asset Management C/O KILROY REALTY CORPORATION, 12200 WEST OLYMPIC BLVD., SUITE 200, LOS ANGELES CA 90064
Michelle Ngo officer: SVP, CFO & Treasurer C/O KILROY REALTY CORPORATION, 12200 W. OLYMPIC BOULEVARD, SUITE 200, LOS ANGELES CA 90064
Eliott Trencher officer: SVP, Chief Investment Officer C/O KILROY REALTY CORPORATION, 12200 W. OLYMPIC BOULEVARD, SUITE 200, LOS ANGELES CA 90064
Louisa Ritter director C/O KILROY REALTY CORPORATION, 12200 W. OLYMPIC BOULEVARD, SUITE 200, LOS ANGELES CA 90064
Jonathan Praw officer: SVP, Chief Investment Officer C/O KILROY REALTYCORPORATION, 12200 W. OLYNPIC BOULEVARD, SUITE 200, LOS ANGELES CA 90064
Merryl Elizabeth Werber officer: SVP, CAO & Controller 12200 W OLYMPIC BLVD STE 200, LOS ANGELES CA 90064
Stephen A Rosetta officer: EVP, Chief Investment Officer C/O KILROY REALTY CORPORATION, 12200 W. OLYMPIC BOULEVARD, SUITE 200, LOS ANGELES CA 90064
Jolie A. Hunt director C/O KLIROY REALTY CORPORATION, 12200 W. OLYMPIC BLVD., SUITE 200, LOS ANGELES CA 90064
Michael L. Sanford officer: EVP, Northern California 12200 W. OLYMPIC BLVD., SUITE 200, LOS ANGELES CA 90064
Peter B. Stoneberg director 12200 W. OLYMPIC BLVD., SUITE 200, LOS ANGELES CA 90064
Gary R. Stevenson director 12200 W. OLYMPIC BLVD., SUITE 200, LOS ANGELES CA 90064
David Joshua Simon officer: EVP 12200 W. OLYMPIC BLVD., SUITE 200, LOS ANGELES CA 90064
A. Robert Paratte officer: See Remarks 12200 W. OLYMPIC BLVD., SUITE 200, LOS ANGELES CA 90064
Justin William Smart officer: See Remarks 12200 W. OLYMPIC BLVD., SUITE 200, LOS ANGELES CA 90064
Kilroy John B Sr director 12200 W OLYMPIC BLVD, SUITE 200, LOS ANGELES CA 90064