Kimco Realty (STU:KIC) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

STU:KIC Kimco Realty Corp STU:KIC
77 GF Score
Price €19.50
GF Value €20.06
Valuation Fairly Valued
! 5 Warning Signs
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What is Kimco Realty Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Kimco Realty  (STU:KIC) 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.


Kimco Realty Cyclically Adjusted PB Ratio Related Terms


Kimco Realty Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Kimco 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.

Kimco Realty Cyclically Adjusted PB Ratio Chart

Kimco Realty Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.72 1.47 1.39 1.51 1.16

Kimco 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 1.18 1.23 1.15 1.28 1.46

STU:KIC vs REG, FRT, ADC: Cyclically Adjusted PB Ratio Comparison

For the REIT - Retail subindustry, Kimco 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.


Kimco Realty Cyclically Adjusted PB Ratio vs REITs Industry

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

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


STU:KIC
77GF Score
Kimco Realty Corp STU:KIC
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kimco 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.

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

For example, Kimco 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)
=13.602/333.9520*333.9520
=13.602

Current CPI (Jun. 2026) = 333.9520.

Kimco Realty Quarterly Data

Book Value per Share CPI Adj_Book
201609 11.555 241.428 15.983
201612 12.246 241.432 16.939
201703 11.986 243.801 16.418
201706 11.374 244.955 15.506
201709 10.780 246.819 14.586
201712 10.836 246.524 14.679
201803 10.560 249.554 14.131
201806 11.189 251.989 14.828
201809 11.188 252.439 14.801
201812 11.282 251.233 14.997
201903 11.438 254.202 15.026
201906 11.216 256.143 14.623
201909 10.858 256.759 14.122
201912 10.206 256.974 13.263
202003 10.304 258.115 13.331
202006 11.603 257.797 15.031
202009 10.954 260.280 14.055
202012 10.744 260.474 13.775
202103 11.280 264.877 14.222
202106 11.258 271.696 13.838
202109 14.238 274.310 17.334
202112 14.436 278.802 17.292
202203 14.875 287.504 17.278
202206 15.442 296.311 17.404
202209 16.263 296.808 18.298
202212 14.756 296.797 16.603
202303 14.668 301.836 16.229
202306 14.562 305.109 15.939
202309 14.956 307.789 16.227
202312 14.204 306.746 15.464
202403 14.887 312.332 15.917
202406 14.944 314.175 15.885
202409 14.280 315.301 15.125
202412 15.414 315.605 16.310
202503 14.688 319.799 15.338
202506 13.483 322.561 13.959
202509 13.428 324.800 13.806
202512 13.349 324.054 13.757
202603 13.571 330.213 13.725
202606 13.602 333.952 13.602

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 Kimco Realty (STU:KIC) Overvalued in 2026?

Based on GuruFocus' analysis, Kimco Realty stock appears to be undervalued. The current stock price of €19.50 is trading 2.8% below its estimated GF Value™ of €20.06. GuruFocus considers Kimco Realty to be Fairly Valued.

Key valuation signals for STU:KIC:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €20.06 vs. price of €19.50 (2.8% below fair value)
  • GF Score™: 77/100 with 5 warning signs

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


Kimco Realty Business Description

Industry Real EstateREITs
Address 500 North Broadway, Suite 201, Jericho, NY, USA, 11753
One of the oldest real estate investment trusts in the United States, Kimco Realty owns interests in 565 shopping centers throughout major markets in the US, representing roughly 100 million square feet.
77GF Score

Get the complete analysis for STU:KIC

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

€19.50
Price
€20.06
GF Value