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Kilroy Realty cash flow, quarter by quarter

Latest: Q1 2026 · from the cash-flow statements filed with the SEC

Free cash flow$48.0M in Q1 2026 · $358M over twelve months

Operating cash flow$151M
Capital spending−$103M
Free cash flow+$48.0M

Analysis

In Q1 2026, Kilroy Realty generated $151M of operating cash flow and spent $103M on capital projects, leaving free cash flow of $48.0M. That is $33.5M less than in Q1 2025 ($81.6M).

Over the twelve months to Mar 31, 2026, operating cash flow was $580M; the largest uses were other investing ($516M), dividends ($258M), capital spending ($222M); besides operations, cash came from asset & business sales ($589M); the cash balance rose by $46.2M.

Operating cash flow was $151M against net income of −$14.7M. The largest differences: depreciation & amortization +$92.9M, gains on disposals −$23.5M, stock-based pay +$4.9M.

Free cash flow

Kilroy Realty: free cash flow by quarterKilroy Realty: free cash flow by quarter−$6.4MQ2 2024$66.3MQ3 2024$33.3MQ4 2024$81.6MQ1 2025$117MQ2 2025$134MQ3 2025$58.2MQ4 2025$48.0MQ1 2026
Operating cash flow less capital spending.
Kilroy Realty: operating cash flow against capital spendingKilroy Realty: operating cash flow against capital spendingOperating cash flowCapital spending$88.7M$95.1MQ2 2024$176M$110MQ3 2024$108M$74.9MQ4 2024$137M$55.3MQ1 2025$144M$26.4MQ2 2025$177M$42.1MQ3 2025$109M$50.8MQ4 2025$151M$103MQ1 2026
Latest (Q1 2026): Operating cash flow $151M, Capital spending $103M.

Capital allocation, year by year

Kilroy Realty: where the cash came from (up) and went (down), by fiscal yearKilroy Realty: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $516MFY2021: Net borrowing $138MFY2021: Shares issued $383KFY2021: Asset sales $1.0BFY2021: Capital spending −$553MFY2021: Dividends −$237M$1.7BFY2021FY2022: Operating cash flow $592MFY2022: Capital spending −$454MFY2022: Dividends −$248M$592MFY2022FY2023: Operating cash flow $603MFY2023: Capital spending −$446MFY2023: Dividends −$255M$603MFY2023FY2024: Operating cash flow $541MFY2024: Net borrowing −$328MFY2024: Asset sales $19.4MFY2024: Capital spending −$366MFY2024: Dividends −$256M$561MFY2024FY2025: Operating cash flow $566MFY2025: Net borrowing −$4.0MFY2025: Capital spending −$175MFY2025: Dividends −$258M$566MFY2025
Over these 5 years operating cash flow totalled $2.8B; the largest uses were capital spending ($2.0B) and dividends ($1.3B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$193M
Debtnone
Net cash$193M
Due within a year$601M

Kilroy Realty funds itself: free cash flow was $358M over the last twelve months, with $193M of cash and investments and no debt on the balance sheet ($601M due within a year, 0.3× covered by cash).

Kilroy Realty: debt maturities by year (FY2025)Kilroy Realty: debt maturities by year (FY2025)$601MYear 1$249MYear 2$2.4BAfter year 5
Principal due in each year as disclosed in the annual report, against $193M of cash and investments now.

Where the cash came from and went

Kilroy Realty: sources (+) and uses (−) of cash, Q1 2026Kilroy Realty: sources (+) and uses (−) of cash, Q1 2026Operating cash flow$151MAsset & business sales$141MCapital spending−$103MBuybacks−$72.7MDividends−$64.5MOther investing−$23.7MCash drawn (+) / kept (−)−$13.6MTaxes on employees’ shares−$7.0MPartners−$6.4MNet borrowing (+) / repaid (−)−$1.6M
Kilroy Realty: sources (+) and uses (−) of cash, TTM to Q1 2026Kilroy Realty: sources (+) and uses (−) of cash, TTM to Q1 2026Asset & business sales$589MOperating cash flow$580MOther investing−$516MDividends−$258MCapital spending−$222MOther financing−$81.4MCash drawn (+) / kept (−)−$46.2MPartners−$32.3MTaxes on employees’ shares−$7.5MNet borrowing (+) / repaid (−)−$6.3M

From profit to cash

Kilroy Realty: net income to operating cash flow, Q1 2026Kilroy Realty: net income to operating cash flow, Q1 2026Net income−$14.7MDepreciation & amortization$92.9MStock-based pay$4.9MGains on disposals−$23.5MOperating cash flow$151M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 2026$151M−$103M−$72.7M−$64.5M−$1.6M−$13.6M$48.0M
Q4 2025$109M−$50.8M—−$64.5M−$1.6M$193M$58.2M
Q3 2025$177M−$42.1M—−$64.5M−$4.0M−$179M$134M
Q2 2025$144M−$26.4M—−$64.5M−$1.6M−$46.4M$117M
Q1 2025$137M−$55.3M—−$64.4M−$1.5M$19.0M$81.6M
Q4 2024$108M−$74.9M—−$64.4M−$1.5M$460M$33.3M
Q3 2024$176M−$110M—−$64.0M−$122M$210M$66.3M
Q2 2024$88.7M−$95.1M—−$64.0M−$1.5M$19.1M−$6.4M

Kilroy Realty: income statement and cash flow

Kilroy Realty, Q3 2026: revenue $272M (-3% year over year), operating margin 7.5%. The chart follows the revenue to costs, profit and cash.

Kilroy Realty: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.