Aureus
AExcellent

Kimco Realty Corporation (HC)(KIM)

A

Financial data as of Dec 31, 2025Stable · Real Estate

FCF Margin52.3%Free Cash Flow / Revenue
Cash Conversion191.5%Operating CF / Net Income
Free Cash Flow$1.1B
Revenue$2.1B
Net Cash-$8.1BNet debt position
Debt / FCF7.4xElevated debt burden
Current Ratio3.31Adequate short-term liquidity
YoY FCF Growth+7.9%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-1High debt-to-FCF ratio (7.4x)
→
+0.5Healthy FCF margin with manageable debt (52.3%, 7.4x)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (52.3%)
  • Excellent cash conversion (192%)
  • Strong liquidity (current ratio: 3.31)
  • Highly consistent quarterly FCF

Concerns

  • Heavy debt position ($8.1B net debt, 7.4x FCF)
  • High debt-to-FCF ratio (7.4x)

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin52.3%
Net Margin27.3%
Operating CF Margin52.3%
CapEx Ratio0.0%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$8.1BNet debt position
Debt / FCF7.4xElevated debt burden
Current Ratio3.31Strong liquidity
Debt / Equity0.80Low leverage

Quarterly FCF Trend

+7.9% YoYStable (+7.9%)

Free cash flow per quarter

Sector Comparison — Real Estate

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameKimco Realty Corporation (HC)
SectorReal Estate
Free Cash Flow$1.1B
Revenue$2.1B
Net Income$584.7M
Operating Cash Flow$1.1B
Capital Expenditure$0
FCF Margin52.3%
Cash Conversion Rate191.5%
Net Margin27.3%
Total Debt$8.3B
Total Cash$211.6M
Net Cash-$8.1B
Current Ratio3.31
Debt / Equity0.80
Debt / FCF7.4x
YoY FCF Growth+7.9%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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Deep Dive4 min read

KIM: 49% FCF Margin With $8B Debt

Kimco prints half its revenue as free cash flow. The debt load says otherwise.

Mar 6, 2026
KIMOVICIPLD+2