COMP <GO>

KRC vs MS // 10Y YIELD & FRED MACRO BETA

Kilroy Realty Corporation (NYSE) VS. Morgan Stanley (NYSE) • 15-METRIC TALLY: KRC 5 — MS 3

■ METRIC PARITY

LAST: $36.41 (+2.42%) • MKT CAP: $4.23B

macro-sensitivity

—

LAST: $190.00 (-0.07%) • MKT CAP: $298.41B

macro-sensitivity

1.04

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (KRC VS. MS) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	KRC	MS	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	0.00%	3.00%	-3.00	MS	/roic <GO>
EV/EBITDA & P/E Valuation	—	31.0x	—	TIE	/valuation <GO>
Free Cash Flow Yield	13.37%	-7.25%	+20.62	KRC	/fcf-yield <GO>
Operating Margin	—	24.60%	—	TIE	/operating-margins <GO>
Net Profit Margin	0.00%	20.20%	-20.20	MS	/net-margins <GO>
Revenue Growth (YoY)	8.90%	5.50%	+3.40	KRC	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	6.09%	2.21%	+3.88	KRC	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	6/9	5/9	+1.00	KRC	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	55.4	51.0	+4.41	KRC	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	—	1.04	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	16.5x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$4.23B	$298.41B	-$294.17B	MS	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	KRC REV	MS REV	KRC GROSS %	MS GROSS %	KRC FCF	MS FCF
FY 2025	$19.1M	$0	—	—	$566.3M	-$17.89B
FY 2024	$17.5M	$0	—	—	$541.1M	$1.36B
FY 2023	$12.0M	$0	—	—	$602.6M	-$33.54B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

KRC // BETA —

MS // BETA 1.04