TERRENO REALTY CORP (TRNO) Fundamental Analysis & Valuation

NYSE:TRNO • US88146M1018

Current stock price

64.79 USD
-1.28 (-1.94%)
At close:
64.79 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

  • In the past year TRNO was profitable.
  • TRNO had a positive operating cash flow in the past year.
  • TRNO had positive earnings in each of the past 5 years.
  • 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

  • TRNO has a Return On Assets of 7.45%. This is amongst the best in the industry. TRNO outperforms 98.35% of its industry peers.
  • TRNO has a better Return On Equity (9.68%) than 85.95% of its industry peers.
  • The Return On Invested Capital of TRNO (2.92%) is comparable to the rest of the industry.
  • TRNO had an Average Return On Invested Capital over the past 3 years of 2.76%. This is in line with the industry average of 3.11%.
  • 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 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

  • Looking at the Profit Margin, with a value of 84.22%, TRNO belongs to the top of the industry, outperforming 99.17% of the companies in the same industry.
  • TRNO's Profit Margin has improved in the last couple of years.
  • With an excellent Operating Margin value of 40.39%, TRNO belongs to the best of the industry, outperforming 85.95% of the companies in the same industry.
  • In the last couple of years the Operating Margin of TRNO has grown nicely.
  • TRNO's Gross Margin of 75.84% is fine compared to the rest of the industry. TRNO outperforms 72.73% 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

  • TRNO has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for TRNO has been increased compared to 1 year ago.
  • TRNO has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, TRNO has a worse debt to assets ratio.
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 3.64. This indicates that TRNO is financially healthy and has little risk of bankruptcy at the moment.
  • With an excellent Altman-Z score value of 3.64, TRNO belongs to the best of the industry, outperforming 98.35% 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.
  • TRNO has a better Debt to FCF ratio (6.81) than 94.21% 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.
  • TRNO has a Debt to Equity ratio of 0.23. This is amongst the best in the industry. TRNO outperforms 95.04% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF 6.81
Altman-Z 3.64
ROIC/WACC0.35
WACC8.31%
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

  • 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 92.56% of its industry peers.
  • TRNO has a Quick 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 Quick ratio of 0.14. This is amonst the worse of the industry: TRNO underperforms 92.56% 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

  • The Earnings Per Share has grown by an impressive 102.58% over the past year.
  • TRNO shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 32.57% yearly.
  • Looking at the last year, TRNO shows a very strong growth in Revenue. 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 Year9.22%
Revenue Next 2Y9.16%
Revenue Next 3Y8.23%
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.
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

  • TRNO is valuated correctly with a Price/Earnings ratio of 16.66.
  • 90.91% 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 26.54.
  • Based on the Price/Forward Earnings ratio of 44.89, the valuation of TRNO can be described as expensive.
  • 62.81% of the companies in the same industry are more expensive than TRNO, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 21.68. TRNO is valued rather expensively when compared to this.
Industry RankSector Rank
PE 16.66
Fwd PE 44.89
TRNO Price Earnings VS Forward Price EarningsTRNO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, TRNO is valued expensively inside the industry as 86.78% of the companies are valued cheaper.
  • 68.59% of the companies in the same industry are more expensive than TRNO, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 49.71
EV/EBITDA 25.28
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)0.51
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

  • With a Yearly Dividend Yield of 3.14%, TRNO has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 7.43, TRNO is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.82, TRNO pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.14%

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 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

  • 50.82% of the earnings are spent on dividend by TRNO. 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 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 (4/29/2026, 8:04:00 PM)

After market: 64.79 0 (0%)

64.79

-1.28 (-1.94%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Industry Strength60.25
Industry Growth62.73
Earnings (Last)02-04
Earnings (Next)05-06
Inst Owners106.53%
Inst Owner Change0.07%
Ins Owners1.92%
Ins Owner Change0.07%
Market Cap6.88B
Revenue(TTM)476.38M
Net Income(TTM)401.19M
Analysts77.5
Price Target71.66 (10.6%)
Short Float %5.67%
Short Ratio9.57
Dividend
Industry RankSector Rank
Dividend Yield 3.14%
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)6.16%
EPS NQ rev (1m)-5.8%
EPS NQ rev (3m)-32.62%
EPS NY rev (1m)0%
EPS NY rev (3m)-25.46%
Revenue NQ rev (1m)-0.14%
Revenue NQ rev (3m)2.24%
Revenue NY rev (1m)0.57%
Revenue NY rev (3m)1.17%
Valuation
Industry RankSector Rank
PE 16.66
Fwd PE 44.89
P/S 14.45
P/FCF 49.71
P/OCF 25.32
P/B 1.66
P/tB 1.66
EV/EBITDA 25.28
EPS(TTM)3.89
EY6%
EPS(NY)1.44
Fwd EY2.23%
FCF(TTM)1.3
FCFY2.01%
OCF(TTM)2.56
OCFY3.95%
SpS4.48
BVpS39.02
TBVpS39.02
PEG (NY)N/A
PEG (5Y)0.51
Graham Number58.44 (-9.8%)
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 3.64
F-Score6
WACC8.31%
ROIC/WACC0.35
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 Year9.22%
Revenue Next 2Y9.16%
Revenue Next 3Y8.23%
Revenue Next 5Y10.79%
EBIT growth 1Y30%
EBIT growth 3Y20.36%
EBIT growth 5Y22.95%
EBIT Next Year74%
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 16.66 and the Price/Book (PB) ratio is 1.66.


How financially healthy is TERRENO REALTY CORP?

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