TERRENO REALTY CORP (TRNO) Fundamental Analysis & Valuation

NYSE:TRNO • US88146M1018

Current stock price

62.15 USD
+0.38 (+0.62%)
At close:
62.15 USD
0 (0%)
After Hours:

This TRNO fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. TRNO Profitability Analysis

1.1 Basic Checks

  • TRNO had positive earnings in the past year.
  • In the past year TRNO had a positive cash flow from operations.
  • Each year in the past 5 years TRNO has been profitable.
  • TRNO had a positive operating cash flow in each of the past 5 years.
TRNO Yearly Net Income VS EBIT VS OCF VS FCFTRNO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

1.2 Ratios

  • The Return On Assets of TRNO (7.45%) is better than 98.36% of its industry peers.
  • The Return On Equity of TRNO (9.68%) is better than 86.07% of its industry peers.
  • The Return On Invested Capital of TRNO (2.92%) is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for TRNO is in line with the industry average of 3.11%.
  • The 3 year average ROIC (2.76%) for TRNO is below the current ROIC(2.92%), indicating increased profibility in the last year.
Industry RankSector 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%
TRNO Yearly ROA, ROE, ROICTRNO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8

1.3 Margins

  • With an excellent Profit Margin value of 84.22%, TRNO belongs to the best of the industry, outperforming 99.18% of the companies in the same industry.
  • In the last couple of years the Profit Margin of TRNO has grown nicely.
  • With an excellent Operating Margin value of 40.39%, TRNO belongs to the best of the industry, outperforming 86.07% of the companies in the same industry.
  • TRNO's Operating Margin has improved in the last couple of years.
  • TRNO has a better Gross Margin (75.84%) than 72.95% of its industry peers.
  • In the last couple of years the Gross Margin of TRNO has remained more or less at the same level.
Industry RankSector 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%
TRNO Yearly Profit, Operating, Gross MarginsTRNO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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5

2. TRNO Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), TRNO is destroying value.
  • Compared to 1 year ago, TRNO has more shares outstanding
  • TRNO has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for TRNO is higher compared to a year ago.
TRNO Yearly Shares OutstandingTRNO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
TRNO Yearly Total Debt VS Total AssetsTRNO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

2.2 Solvency

  • TRNO has an Altman-Z score of 3.38. This indicates that TRNO is financially healthy and has little risk of bankruptcy at the moment.
  • With an excellent Altman-Z score value of 3.38, TRNO belongs to the best of the industry, outperforming 97.54% of the companies in the same industry.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 6.81, TRNO belongs to the top of the industry, outperforming 94.26% of the companies in the same industry.
  • TRNO has a Debt/Equity ratio of 0.23. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.23, TRNO belongs to the top of the industry, outperforming 95.90% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF 6.81
Altman-Z 3.38
ROIC/WACC0.36
WACC8.21%
TRNO Yearly LT Debt VS Equity VS FCFTRNO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.3 Liquidity

  • TRNO has a Current Ratio of 0.14. This is a bad value and indicates that TRNO is not financially healthy enough and could expect problems in meeting its short term obligations.
  • TRNO has a worse Current ratio (0.14) than 92.62% of its industry peers.
  • A Quick Ratio of 0.14 indicates that TRNO may have some problems paying its short term obligations.
  • TRNO's Quick ratio of 0.14 is on the low side compared to the rest of the industry. TRNO is outperformed by 92.62% 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 RankSector Rank
Current Ratio 0.14
Quick Ratio 0.14
TRNO Yearly Current Assets VS Current LiabilitesTRNO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

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.
  • Measured over the past years, TRNO shows a very strong growth in Earnings Per Share. The EPS has been growing by 32.57% on average per year.
  • TRNO shows a strong growth in Revenue. In the last year, the Revenue has grown by 24.51%.
  • Measured over the past years, TRNO shows a very strong growth in Revenue. The Revenue has been growing by 20.58% on average per year.
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

  • The Earnings Per Share is expected to decrease by -37.91% on average over the next years. This is quite bad
  • TRNO is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 10.79% yearly.
EPS Next Y-62.89%
EPS Next 2Y-37.91%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year9.59%
Revenue Next 2Y9.44%
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.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
TRNO Yearly Revenue VS EstimatesTRNO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M
TRNO Yearly EPS VS EstimatesTRNO Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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4

4. TRNO Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 15.98, the valuation of TRNO can be described as correct.
  • Based on the Price/Earnings ratio, TRNO is valued cheaper than 90.16% of the companies in the same industry.
  • TRNO is valuated rather cheaply when we compare the Price/Earnings ratio to 26.17, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 43.06, the valuation of TRNO can be described as expensive.
  • Based on the Price/Forward Earnings ratio, TRNO is valued a bit cheaper than 64.75% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of TRNO to the average of the S&P500 Index (23.05), we can say TRNO is valued expensively.
Industry RankSector Rank
PE 15.98
Fwd PE 43.06
TRNO Price Earnings VS Forward Price EarningsTRNO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TRNO indicates a rather expensive valuation: TRNO more expensive than 86.89% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, TRNO is valued a bit cheaper than 69.67% of the companies in the same industry.
Industry RankSector Rank
P/FCF 46.75
EV/EBITDA 23.54
TRNO Per share dataTRNO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • TRNO has an outstanding profitability rating, which may justify a higher PE ratio.
  • A cheap valuation may be justified as TRNO's earnings are expected to decrease with -37.91% in the coming years.
PEG (NY)N/A
PEG (5Y)0.49
EPS Next 2Y-37.91%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. TRNO Dividend Analysis

5.1 Amount

  • TRNO has a Yearly Dividend Yield of 3.43%.
  • Compared to an average industry Dividend Yield of 8.03, TRNO is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.89, TRNO pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.43%

5.2 History

  • On average, the dividend of TRNO grows each year by 12.59%, which is quite nice.
  • TRNO has been paying a dividend for at least 10 years, so it has a reliable track record.
  • TRNO has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)12.59%
Div Incr Years12
Div Non Decr Years12
TRNO Yearly Dividends per shareTRNO Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

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.
  • The Dividend Rate of TRNO has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP50.82%
EPS Next 2Y-37.91%
EPS Next 3YN/A
TRNO Yearly Income VS Free CF VS DividendTRNO Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
TRNO Dividend Payout.TRNO Dividend Payout, showing the Payout Ratio.TRNO Dividend Payout.PayoutRetained Earnings

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TRNO Fundamentals: All Metrics, Ratios and Statistics

TERRENO REALTY CORP

NYSE:TRNO (4/2/2026, 8:04:00 PM)

After market: 62.15 0 (0%)

62.15

+0.38 (+0.62%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-04
Earnings (Next)05-05
Inst Owners108.47%
Inst Owner Change0%
Ins Owners1.9%
Ins Owner Change0.07%
Market Cap6.47B
Revenue(TTM)476.38M
Net Income(TTM)401.19M
Analysts77.5
Price Target71.66 (15.3%)
Short Float %5.72%
Short Ratio7.89
Dividend
Industry RankSector Rank
Dividend Yield 3.43%
Yearly Dividend2.01
Dividend Growth(5Y)12.59%
DP50.82%
Div Incr Years12
Div Non Decr Years12
Ex-Date03-27
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)0.54%
PT rev (3m)6.25%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.82%
EPS NY rev (1m)0%
EPS NY rev (3m)-8.12%
Revenue NQ rev (1m)0.64%
Revenue NQ rev (3m)1.54%
Revenue NY rev (1m)1.09%
Revenue NY rev (3m)-0.26%
Valuation
Industry RankSector Rank
PE 15.98
Fwd PE 43.06
P/S 13.59
P/FCF 46.75
P/OCF 23.82
P/B 1.56
P/tB 1.56
EV/EBITDA 23.54
EPS(TTM)3.89
EY6.26%
EPS(NY)1.44
Fwd EY2.32%
FCF(TTM)1.33
FCFY2.14%
OCF(TTM)2.61
OCFY4.2%
SpS4.57
BVpS39.8
TBVpS39.8
PEG (NY)N/A
PEG (5Y)0.49
Graham Number59.02
Profitability
Industry RankSector 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 RankSector 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 3.38
F-Score6
WACC8.21%
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 Year9.59%
Revenue Next 2Y9.44%
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 Fundamental Analysis 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.


What is the profitability of TRNO stock?

TERRENO REALTY CORP (TRNO) has a profitability rating of 8 / 10.


What is the valuation of TERRENO REALTY CORP based on its PE and PB ratios?

The Price/Earnings (PE) ratio for TERRENO REALTY CORP (TRNO) is 15.98 and the Price/Book (PB) ratio is 1.56.


How financially healthy is TERRENO REALTY CORP?

The financial health rating of TERRENO REALTY CORP (TRNO) is 5 / 10.