TERRENO REALTY CORP (TRNO) Fundamental Analysis & Valuation
NYSE:TRNO • US88146M1018
62.71 USD
-0.5 (-0.79%)
At close: Mar 11, 2026
62.71 USD
0 (0%)
After Hours: 3/11/2026, 8:04:00 PM
This TRNO fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
TRNO gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 123 industry peers in the Diversified REITs industry. TRNO scores excellent on profitability, but there are some minor concerns on its financial health. TRNO is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! These ratings could make TRNO a good candidate for growth investing.
1. TRNO Profitability Analysis
1.1 Basic Checks
- In the past year TRNO was profitable.
- In the past year TRNO had a positive cash flow from operations.
- TRNO had positive earnings in each of the past 5 years.
- Each year in the past 5 years TRNO had a positive operating cash flow.
1.2 Ratios
- With an excellent Return On Assets value of 7.45%, TRNO belongs to the best of the industry, outperforming 98.37% of the companies in the same industry.
- Looking at the Return On Equity, with a value of 9.68%, TRNO belongs to the top of the industry, outperforming 83.74% of the companies in the same industry.
- TRNO's Return On Invested Capital of 2.92% is in line compared to the rest of the industry. TRNO outperforms 54.47% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for TRNO is in line with the industry average of 3.14%.
- The last Return On Invested Capital (2.92%) for TRNO is above the 3 year average (2.76%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.45% | ||
| ROE | 9.68% | ||
| ROIC | 2.92% |
ROA(3y)5.05%
ROA(5y)4.87%
ROE(3y)6.62%
ROE(5y)6.59%
ROIC(3y)2.76%
ROIC(5y)2.72%
1.3 Margins
- With an excellent Profit Margin value of 84.22%, TRNO belongs to the best of the industry, outperforming 99.19% of the companies in the same industry.
- TRNO's Profit Margin has improved in the last couple of years.
- TRNO has a Operating Margin of 40.39%. This is amongst the best in the industry. TRNO outperforms 86.18% of its industry peers.
- In the last couple of years the Operating Margin of TRNO has grown nicely.
- With a decent Gross Margin value of 75.84%, TRNO is doing good in the industry, outperforming 73.17% of the companies in the same industry.
- TRNO's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 40.39% | ||
| PM (TTM) | 84.22% | ||
| GM | 75.84% |
OM growth 3Y0.37%
OM growth 5Y1.96%
PM growth 3Y5.67%
PM growth 5Y14.67%
GM growth 3Y0.35%
GM growth 5Y0.57%
2. TRNO Health Analysis
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TRNO is destroying value.
- TRNO has more shares outstanding than it did 1 year ago.
- The number of shares outstanding for TRNO has been increased compared to 5 years ago.
- TRNO has a worse debt/assets ratio than last year.
2.2 Solvency
- TRNO has an Altman-Z score of 3.40. This indicates that TRNO is financially healthy and has little risk of bankruptcy at the moment.
- TRNO has a Altman-Z score of 3.40. This is amongst the best in the industry. TRNO outperforms 97.56% of its industry peers.
- The Debt to FCF ratio of TRNO is 6.81, which is on the high side as it means it would take TRNO, 6.81 years of fcf income to pay off all of its debts.
- The Debt to FCF ratio of TRNO (6.81) is better than 94.31% of its industry peers.
- TRNO has a Debt/Equity ratio of 0.23. This is a healthy value indicating a solid balance between debt and equity.
- With an excellent Debt to Equity ratio value of 0.23, TRNO belongs to the best of the industry, outperforming 95.94% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.23 | ||
| Debt/FCF | 6.81 | ||
| Altman-Z | 3.4 |
ROIC/WACC0.36
WACC8.04%
2.3 Liquidity
- A Current Ratio of 0.14 indicates that TRNO may have some problems paying its short term obligations.
- TRNO has a worse Current ratio (0.14) than 93.50% of its industry peers.
- A Quick Ratio of 0.14 indicates that TRNO may have some problems paying its short term obligations.
- TRNO has a Quick ratio of 0.14. This is amonst the worse of the industry: TRNO underperforms 93.50% of its industry peers.
- TRNO does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.14 | ||
| Quick Ratio | 0.14 |
3. TRNO Growth Analysis
3.1 Past
- TRNO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 102.58%, which is quite impressive.
- The Earnings Per Share has been growing by 32.57% on average over the past years. This is a very strong growth
- Looking at the last year, TRNO shows a very strong growth in Revenue. The Revenue has grown by 24.51%.
- TRNO shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 20.58% yearly.
EPS 1Y (TTM)102.58%
EPS 3Y14.22%
EPS 5Y32.57%
EPS Q2Q%94.82%
Revenue 1Y (TTM)24.51%
Revenue growth 3Y19.92%
Revenue growth 5Y20.58%
Sales Q2Q%32.56%
3.2 Future
- TRNO is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -37.91% yearly.
- Based on estimates for the next years, TRNO will show a quite strong growth in Revenue. The Revenue will grow by 10.79% on average per year.
EPS Next Y-62.89%
EPS Next 2Y-37.91%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.41%
Revenue Next 2Y8.58%
Revenue Next 3Y14.02%
Revenue Next 5Y10.79%
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
4. TRNO Valuation Analysis
4.1 Price/Earnings Ratio
- TRNO is valuated correctly with a Price/Earnings ratio of 16.12.
- 88.62% of the companies in the same industry are more expensive than TRNO, based on the Price/Earnings ratio.
- TRNO's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.15.
- The Price/Forward Earnings ratio is 43.45, which means the current valuation is very expensive for TRNO.
- Based on the Price/Forward Earnings ratio, TRNO is valued a bit cheaper than 65.04% of the companies in the same industry.
- The average S&P500 Price/Forward Earnings ratio is at 24.27. TRNO is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.12 | ||
| Fwd PE | 43.45 |
4.2 Price Multiples
- TRNO's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. TRNO is more expensive than 86.99% of the companies in the same industry.
- Based on the Price/Free Cash Flow ratio, TRNO is valued a bit cheaper than 69.92% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 47.18 | ||
| EV/EBITDA | 23.73 |
4.3 Compensation for Growth
- TRNO has an outstanding profitability rating, which may justify a higher PE ratio.
- TRNO's earnings are expected to decrease with -37.91% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.49
EPS Next 2Y-37.91%
EPS Next 3YN/A
5. TRNO Dividend Analysis
5.1 Amount
- TRNO has a Yearly Dividend Yield of 3.27%.
- Compared to an average industry Dividend Yield of 7.58, TRNO is paying slightly less dividend.
- TRNO's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.27% |
5.2 History
- On average, the dividend of TRNO grows each year by 12.59%, which is quite nice.
- TRNO has paid a dividend for at least 10 years, which is a reliable track record.
- TRNO has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)12.59%
Div Incr Years11
Div Non Decr Years11
5.3 Sustainability
- TRNO pays out 50.82% of its income as dividend. This is a bit on the high side, but may be sustainable.
- TRNO's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP50.82%
EPS Next 2Y-37.91%
EPS Next 3YN/A
TRNO Fundamentals: All Metrics, Ratios and Statistics
62.71
-0.5 (-0.79%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-04 2026-02-04/amc
Earnings (Next)05-05 2026-05-05
Inst Owners108.47%
Inst Owner Change-1.76%
Ins Owners1.9%
Ins Owner Change0.07%
Market Cap6.53B
Revenue(TTM)476.38M
Net Income(TTM)401.19M
Analysts77.5
Price Target71.27 (13.65%)
Short Float %6.19%
Short Ratio8.36
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.27% |
Yearly Dividend2.01
Dividend Growth(5Y)12.59%
DP50.82%
Div Incr Years11
Div Non Decr Years11
Ex-Date03-27 2026-03-27 (0.52)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)167.94%
Min EPS beat(2)166.04%
Max EPS beat(2)169.84%
EPS beat(4)4
Avg EPS beat(4)125.51%
Min EPS beat(4)29.8%
Max EPS beat(4)169.84%
EPS beat(8)7
Avg EPS beat(8)78%
EPS beat(12)11
Avg EPS beat(12)64.05%
EPS beat(16)14
Avg EPS beat(16)80.06%
Revenue beat(2)1
Avg Revenue beat(2)3.08%
Min Revenue beat(2)-0.8%
Max Revenue beat(2)6.97%
Revenue beat(4)1
Avg Revenue beat(4)1%
Min Revenue beat(4)-2.16%
Max Revenue beat(4)6.97%
Revenue beat(8)2
Avg Revenue beat(8)0.38%
Revenue beat(12)3
Avg Revenue beat(12)0.02%
Revenue beat(16)5
Avg Revenue beat(16)0.37%
PT rev (1m)4.78%
PT rev (3m)5.97%
EPS NQ rev (1m)-28.47%
EPS NQ rev (3m)-2.82%
EPS NY rev (1m)-12.47%
EPS NY rev (3m)-8.12%
Revenue NQ rev (1m)1.72%
Revenue NQ rev (3m)0.62%
Revenue NY rev (1m)0.42%
Revenue NY rev (3m)-1.15%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.12 | ||
| Fwd PE | 43.45 | ||
| P/S | 13.71 | ||
| P/FCF | 47.18 | ||
| P/OCF | 24.03 | ||
| P/B | 1.58 | ||
| P/tB | 1.58 | ||
| EV/EBITDA | 23.73 |
EPS(TTM)3.89
EY6.2%
EPS(NY)1.44
Fwd EY2.3%
FCF(TTM)1.33
FCFY2.12%
OCF(TTM)2.61
OCFY4.16%
SpS4.57
BVpS39.8
TBVpS39.8
PEG (NY)N/A
PEG (5Y)0.49
Graham Number59.02
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.45% | ||
| ROE | 9.68% | ||
| ROCE | 3.69% | ||
| ROIC | 2.92% | ||
| ROICexc | 2.93% | ||
| ROICexgc | 2.99% | ||
| OM | 40.39% | ||
| PM (TTM) | 84.22% | ||
| GM | 75.84% | ||
| FCFM | 29.07% |
ROA(3y)5.05%
ROA(5y)4.87%
ROE(3y)6.62%
ROE(5y)6.59%
ROIC(3y)2.76%
ROIC(5y)2.72%
ROICexc(3y)2.81%
ROICexc(5y)2.79%
ROICexgc(3y)2.87%
ROICexgc(5y)2.85%
ROCE(3y)3.49%
ROCE(5y)3.44%
ROICexgc growth 3Y0.95%
ROICexgc growth 5Y1.54%
ROICexc growth 3Y0.96%
ROICexc growth 5Y1.54%
OM growth 3Y0.37%
OM growth 5Y1.96%
PM growth 3Y5.67%
PM growth 5Y14.67%
GM growth 3Y0.35%
GM growth 5Y0.57%
F-Score6
Asset Turnover0.09
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.23 | ||
| Debt/FCF | 6.81 | ||
| Debt/EBITDA | 3 | ||
| Cap/Depr | 109.7% | ||
| Cap/Sales | 28% | ||
| Interest Coverage | 7.01 | ||
| Cash Conversion | 86.58% | ||
| Profit Quality | 34.52% | ||
| Current Ratio | 0.14 | ||
| Quick Ratio | 0.14 | ||
| Altman-Z | 3.4 |
F-Score6
WACC8.04%
ROIC/WACC0.36
Cap/Depr(3y)178.33%
Cap/Depr(5y)159.75%
Cap/Sales(3y)42.59%
Cap/Sales(5y)37.87%
Profit Quality(3y)23.04%
Profit Quality(5y)35.01%
High Growth Momentum
Growth
EPS 1Y (TTM)102.58%
EPS 3Y14.22%
EPS 5Y32.57%
EPS Q2Q%94.82%
EPS Next Y-62.89%
EPS Next 2Y-37.91%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)24.51%
Revenue growth 3Y19.92%
Revenue growth 5Y20.58%
Sales Q2Q%32.56%
Revenue Next Year8.41%
Revenue Next 2Y8.58%
Revenue Next 3Y14.02%
Revenue Next 5Y10.79%
EBIT growth 1Y30%
EBIT growth 3Y20.36%
EBIT growth 5Y22.95%
EBIT Next Year74.03%
EBIT Next 3Y32.04%
EBIT Next 5Y21.74%
FCF growth 1Y131.48%
FCF growth 3Y39.55%
FCF growth 5Y18.01%
OCF growth 1Y16.84%
OCF growth 3Y23.82%
OCF growth 5Y21.88%
TERRENO REALTY CORP / TRNO FAQ
What is the ChartMill fundamental rating of TERRENO REALTY CORP (TRNO) stock?
ChartMill assigns a fundamental rating of 6 / 10 to TRNO.
Can you provide the valuation status for TERRENO REALTY CORP?
ChartMill assigns a valuation rating of 4 / 10 to TERRENO REALTY CORP (TRNO). This can be considered as Fairly Valued.
Can you provide the profitability details for TERRENO REALTY CORP?
TERRENO REALTY CORP (TRNO) has a profitability rating of 8 / 10.
What are the PE and PB ratios of TERRENO REALTY CORP (TRNO) stock?
The Price/Earnings (PE) ratio for TERRENO REALTY CORP (TRNO) is 16.12 and the Price/Book (PB) ratio is 1.58.
How sustainable is the dividend of TERRENO REALTY CORP (TRNO) stock?
The dividend rating of TERRENO REALTY CORP (TRNO) is 6 / 10 and the dividend payout ratio is 50.82%.