Kimco Realty Corp (KIM) is overvalued and Realty Income Corp (O) is undervalued.
Against our estimates of intrinsic value, O trades at the wider discount: a margin of safety of +54%, against -53% for KIM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.1% (average of 3 methods) values the shares at $14.78; the price of $22.55 is 53% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 8.8% (average of 3 methods) values the shares at $123.83; the price of $56.53 is 54% below that value, and 78% of that value comes from beyond year five.
Leak Score 60/100 on 7 of 12 signals
| Metric | KIM | O |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $22.55 | $56.53 |
| Intrinsic value | $14.78 | $123.83 |
| Margin of safety | -53% | +54% |
| Leak Score | 0/100 (2/12) | 60/100 (7/12) |
| Market cap | $15.1B | $53.5B |
| Revenue growth, 5 years | 15.3% | 27.8% |
| Operating margin | 34.5% | 45.6% |
| Net margin | 26.1% | 20.9% |
| Return on equity | 5.8% | 3.2% |
| Debt to equity | 0.89 | 0.83 |
| P/E | 26.4x | 41.4x |
| Forward P/E | 25.5x | 33.5x |
| P/B | 1.5x | 1.4x |
| Dividend yield | 4.8% | 5.8% |