Kilroy Realty (BSP:K2RC34) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:K2RC34 Kilroy Realty Corp BSP:K2RC34
41 GF Score
Price R$22.14
GF Value R$21.19
Valuation Fairly Valued
! 6 Warning Signs
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What is Kilroy Realty Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Kilroy Realty  (BSP:K2RC34) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Kilroy Realty Cyclically Adjusted PB Ratio Related Terms


Kilroy Realty Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for Kilroy Realty's Cyclically Adjusted PB Ratio 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.

Kilroy Realty Cyclically Adjusted PB Ratio Chart

Kilroy Realty Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
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Kilroy Realty Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio 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 - - - - 0.76

BSP:K2RC34 vs CDP, SLG, CUZ: Cyclically Adjusted PB Ratio Comparison

For the REIT - Office subindustry, Kilroy Realty's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kilroy Realty Cyclically Adjusted PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Kilroy Realty's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Kilroy Realty's Cyclically Adjusted PB Ratio falls into.


BSP:K2RC34
41GF Score
Kilroy Realty Corp BSP:K2RC34
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Kilroy Realty Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Kilroy Realty's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Kilroy Realty's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=30.306/333.9520*333.9520
=30.306

Current CPI (Jun. 2026) = 333.9520.

Kilroy Realty Quarterly Data

Book Value per Share CPI Adj_Book
201609 15.182 241.428 21.000
201612 15.567 241.432 21.532
201703 15.628 243.801 21.407
201706 16.281 244.955 22.196
201709 15.657 246.819 21.184
201712 16.651 246.524 22.556
201803 16.592 249.554 22.203
201806 19.435 251.989 25.757
201809 20.191 252.439 26.711
201812 20.203 251.233 26.855
201903 20.155 254.202 26.478
201906 19.866 256.143 25.901
201909 22.296 256.759 28.999
201912 21.680 256.974 28.174
202003 29.735 258.115 38.471
202006 31.307 257.797 40.555
202009 32.108 260.280 41.196
202012 29.529 260.474 37.859
202103 34.544 264.877 43.552
202106 30.665 271.696 37.692
202109 33.281 274.310 40.517
202112 34.015 278.802 40.744
202203 28.834 287.504 33.492
202206 31.616 296.311 35.632
202209 32.856 296.808 36.968
202212 32.044 296.797 36.055
202303 30.695 301.836 33.961
202306 29.166 305.109 31.923
202309 30.245 307.789 32.816
202312 29.312 306.746 31.912
202403 30.082 312.332 32.164
202406 33.325 314.175 35.423
202409 32.342 315.301 34.255
202412 36.692 315.605 38.825
202503 33.779 319.799 35.274
202506 32.259 322.561 33.398
202509 31.994 324.800 32.896
202512 32.623 324.054 33.619
202603 30.813 330.213 31.162
202606 30.306 333.952 30.306

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Kilroy Realty (BSP:K2RC34) Overvalued in 2026?

Based on GuruFocus' analysis, Kilroy Realty stock appears to be overvalued. The current stock price of R$22.14 is trading 4.5% above its estimated GF Value™ of R$21.19. GuruFocus considers Kilroy Realty to be Fairly Valued.

Key valuation signals for BSP:K2RC34:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$21.19 vs. price of R$22.14 (4.5% above fair value)
  • GF Score™: 41/100 with 6 warning signs

No single metric tells the full story. See the BSP:K2RC34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kilroy Realty Business Description

Industry Real EstateREITs
Other Exchanges KRC:USAKRC:Germany
Address 12200 West Olympic Boulevard, Suite 200, Los Angeles, CA, USA, 90064
Kilroy Realty is a premier owner and landlord of approximately 16.3 million square feet of office space across Los Angeles, San Diego, the San Francisco Bay Area, Austin, Texas, and greater Seattle. The company operates as a real estate investment trust.
41GF Score

Get the complete analysis for BSP:K2RC34

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$22.14
Price
R$21.19
GF Value