TERRENO REALTY CORP (TRNO) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:TRNO • US88146M1018

61.56 USD
+0.02 (+0.03%)
At close: Feb 2, 2026
61.56 USD
0 (0%)
After Hours: 2/2/2026, 8:04:00 PM
Fundamental Rating

6

Taking everything into account, TRNO scores 6 out of 10 in our fundamental rating. TRNO was compared to 124 industry peers in the Diversified REITs industry. While TRNO belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. TRNO has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year TRNO was profitable.
  • TRNO had a positive operating cash flow in the past year.
  • In the past 5 years TRNO has always been profitable.
  • In the past 5 years TRNO always reported a positive cash flow from operatings.
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 50M 100M 150M 200M

1.2 Ratios

  • TRNO has a better Return On Assets (5.99%) than 99.19% of its industry peers.
  • TRNO's Return On Equity of 8.00% is fine compared to the rest of the industry. TRNO outperforms 79.84% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 2.67%, TRNO is in line with its industry, outperforming 48.39% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for TRNO is in line with the industry average of 3.05%.
Industry RankSector Rank
ROA 5.99%
ROE 8%
ROIC 2.67%
ROA(3y)4.65%
ROA(5y)4.12%
ROE(3y)6.34%
ROE(5y)5.65%
ROIC(3y)2.73%
ROIC(5y)2.65%
TRNO Yearly ROA, ROE, ROICTRNO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

  • With an excellent Profit Margin value of 72.18%, TRNO belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • TRNO's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 39.36%, TRNO belongs to the top of the industry, outperforming 84.68% of the companies in the same industry.
  • TRNO's Operating Margin has improved in the last couple of years.
  • TRNO's Gross Margin of 74.53% is fine compared to the rest of the industry. TRNO outperforms 71.77% of its industry peers.
  • TRNO's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 39.36%
PM (TTM) 72.18%
GM 74.53%
OM growth 3Y-0.86%
OM growth 5Y2.39%
PM growth 3Y7.03%
PM growth 5Y8.26%
GM growth 3Y-0.14%
GM growth 5Y0.06%
TRNO Yearly Profit, Operating, Gross MarginsTRNO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

More info and screens

5

2. Health

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.
  • 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 has been reduced compared to a year ago.
TRNO Yearly Shares OutstandingTRNO Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
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 1B 2B 3B 4B

2.2 Solvency

  • TRNO has an Altman-Z score of 3.07. This indicates that TRNO is financially healthy and has little risk of bankruptcy at the moment.
  • TRNO's Altman-Z score of 3.07 is amongst the best of the industry. TRNO outperforms 96.77% of its industry peers.
  • The Debt to FCF ratio of TRNO is 8.73, which is on the high side as it means it would take TRNO, 8.73 years of fcf income to pay off all of its debts.
  • TRNO's Debt to FCF ratio of 8.73 is amongst the best of the industry. TRNO outperforms 93.55% of its industry peers.
  • A Debt/Equity ratio of 0.26 indicates that TRNO is not too dependend on debt financing.
  • The Debt to Equity ratio of TRNO (0.26) is better than 96.77% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 8.73
Altman-Z 3.07
ROIC/WACC0.33
WACC8.14%
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 1B 2B 3B

2.3 Liquidity

  • A Current Ratio of 0.15 indicates that TRNO may have some problems paying its short term obligations.
  • With a Current ratio value of 0.15, TRNO is not doing good in the industry: 93.55% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.15 indicates that TRNO may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.15, TRNO is not doing good in the industry: 92.74% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.15
Quick Ratio 0.15
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 50M 100M 150M 200M

More info and screens

6

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 74.03% over the past year.
  • Measured over the past years, TRNO shows a quite strong growth in Earnings Per Share. The EPS has been growing by 17.70% on average per year.
  • TRNO shows a strong growth in Revenue. In the last year, the Revenue has grown by 21.13%.
  • TRNO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.48% yearly.
EPS 1Y (TTM)74.03%
EPS 3Y16%
EPS 5Y17.7%
EPS Q2Q%170.27%
Revenue 1Y (TTM)21.13%
Revenue growth 3Y19.91%
Revenue growth 5Y17.48%
Sales Q2Q%16.67%

3.2 Future

  • The Earnings Per Share is expected to decrease by -2.87% on average over the next years.
  • Based on estimates for the next years, TRNO will show a quite strong growth in Revenue. The Revenue will grow by 16.62% on average per year.
EPS Next Y42.2%
EPS Next 2Y0.42%
EPS Next 3Y-2.87%
EPS Next 5YN/A
Revenue Next Year21.64%
Revenue Next 2Y14.6%
Revenue Next 3Y13.15%
Revenue Next 5Y16.62%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last 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 800M
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 0.5 1 1.5 2 2.5

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5

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 19.54, which indicates a rather expensive current valuation of TRNO.
  • Based on the Price/Earnings ratio, TRNO is valued cheaper than 83.06% of the companies in the same industry.
  • TRNO is valuated rather cheaply when we compare the Price/Earnings ratio to 28.41, which is the current average of the S&P500 Index.
  • TRNO is valuated quite expensively with a Price/Forward Earnings ratio of 31.79.
  • Based on the Price/Forward Earnings ratio, TRNO is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of TRNO to the average of the S&P500 Index (25.64), we can say TRNO is valued slightly more expensively.
Industry RankSector Rank
PE 19.54
Fwd PE 31.79
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

  • Based on the Enterprise Value to EBITDA ratio, TRNO is valued expensively inside the industry as 89.52% of the companies are valued cheaper.
  • Based on the Price/Free Cash Flow ratio, TRNO is valued a bit cheaper than 66.13% of the companies in the same industry.
Industry RankSector Rank
P/FCF 54.3
EV/EBITDA 25.97
TRNO Per share dataTRNO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of TRNO may justify a higher PE ratio.
  • A cheap valuation may be justified as TRNO's earnings are expected to decrease with -2.87% in the coming years.
PEG (NY)0.46
PEG (5Y)1.1
EPS Next 2Y0.42%
EPS Next 3Y-2.87%

More info and screens

5

5. Dividend

5.1 Amount

  • TRNO has a Yearly Dividend Yield of 3.39%.
  • TRNO's Dividend Yield is slightly below the industry average, which is at 6.98.
  • Compared to an average S&P500 Dividend Yield of 1.83, TRNO pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.39%

5.2 History

  • The dividend of TRNO is nicely growing with an annual growth rate of 13.58%!
  • 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)13.58%
Div Incr Years11
Div Non Decr Years11
TRNO Yearly Dividends per shareTRNO Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

  • TRNO pays out 62.29% of its income as dividend. This is not a sustainable payout ratio.
  • The Dividend Rate of TRNO has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP62.29%
EPS Next 2Y0.42%
EPS Next 3Y-2.87%
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 50M 100M 150M
TRNO Dividend Payout.TRNO Dividend Payout, showing the Payout Ratio.TRNO Dividend Payout.PayoutRetained Earnings

More info and screens

TERRENO REALTY CORP

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

After market: 61.56 0 (0%)

61.56

+0.02 (+0.03%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)11-05
Earnings (Next)02-03
Inst Owners110.45%
Inst Owner Change-1.4%
Ins Owners1.91%
Ins Owner Change4.89%
Market Cap6.37B
Revenue(TTM)442.61M
Net Income(TTM)319.48M
Analysts74.78
Price Target67.5 (9.65%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.39%
Yearly Dividend1.87
Dividend Growth(5Y)13.58%
DP62.29%
Div Incr Years11
Div Non Decr Years11
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)153.09%
Min EPS beat(2)136.35%
Max EPS beat(2)169.84%
EPS beat(4)4
Avg EPS beat(4)111.37%
Min EPS beat(4)29.8%
Max EPS beat(4)169.84%
EPS beat(8)7
Avg EPS beat(8)67.71%
EPS beat(12)11
Avg EPS beat(12)63.57%
EPS beat(16)14
Avg EPS beat(16)74.9%
Revenue beat(2)0
Avg Revenue beat(2)-1.48%
Min Revenue beat(2)-2.16%
Max Revenue beat(2)-0.8%
Revenue beat(4)0
Avg Revenue beat(4)-0.85%
Min Revenue beat(4)-2.16%
Max Revenue beat(4)0%
Revenue beat(8)2
Avg Revenue beat(8)-0.41%
Revenue beat(12)3
Avg Revenue beat(12)-0.26%
Revenue beat(16)4
Avg Revenue beat(16)-0.12%
PT rev (1m)0.09%
PT rev (3m)4.65%
EPS NQ rev (1m)32.28%
EPS NQ rev (3m)52.73%
EPS NY rev (1m)25.27%
EPS NY rev (3m)43.39%
Revenue NQ rev (1m)1.77%
Revenue NQ rev (3m)6.77%
Revenue NY rev (1m)0.52%
Revenue NY rev (3m)1.7%
Valuation
Industry RankSector Rank
PE 19.54
Fwd PE 31.79
P/S 14.38
P/FCF 54.3
P/OCF 25.17
P/B 1.59
P/tB 1.59
EV/EBITDA 25.97
EPS(TTM)3.15
EY5.12%
EPS(NY)1.94
Fwd EY3.15%
FCF(TTM)1.13
FCFY1.84%
OCF(TTM)2.45
OCFY3.97%
SpS4.28
BVpS38.64
TBVpS38.64
PEG (NY)0.46
PEG (5Y)1.1
Graham Number52.33
Profitability
Industry RankSector Rank
ROA 5.99%
ROE 8%
ROCE 3.38%
ROIC 2.67%
ROICexc 2.69%
ROICexgc 2.74%
OM 39.36%
PM (TTM) 72.18%
GM 74.53%
FCFM 26.48%
ROA(3y)4.65%
ROA(5y)4.12%
ROE(3y)6.34%
ROE(5y)5.65%
ROIC(3y)2.73%
ROIC(5y)2.65%
ROICexc(3y)2.78%
ROICexc(5y)2.75%
ROICexgc(3y)2.84%
ROICexgc(5y)2.81%
ROCE(3y)3.45%
ROCE(5y)3.35%
ROICexgc growth 3Y-1.28%
ROICexgc growth 5Y1.14%
ROICexc growth 3Y-1.28%
ROICexc growth 5Y1.26%
OM growth 3Y-0.86%
OM growth 5Y2.39%
PM growth 3Y7.03%
PM growth 5Y8.26%
GM growth 3Y-0.14%
GM growth 5Y0.06%
F-Score4
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 8.73
Debt/EBITDA 3.61
Cap/Depr 124.22%
Cap/Sales 30.66%
Interest Coverage 9.91
Cash Conversion 89.23%
Profit Quality 36.69%
Current Ratio 0.15
Quick Ratio 0.15
Altman-Z 3.07
F-Score4
WACC8.14%
ROIC/WACC0.33
Cap/Depr(3y)188.52%
Cap/Depr(5y)155.5%
Cap/Sales(3y)44.39%
Cap/Sales(5y)36.62%
Profit Quality(3y)20.15%
Profit Quality(5y)43.35%
High Growth Momentum
Growth
EPS 1Y (TTM)74.03%
EPS 3Y16%
EPS 5Y17.7%
EPS Q2Q%170.27%
EPS Next Y42.2%
EPS Next 2Y0.42%
EPS Next 3Y-2.87%
EPS Next 5YN/A
Revenue 1Y (TTM)21.13%
Revenue growth 3Y19.91%
Revenue growth 5Y17.48%
Sales Q2Q%16.67%
Revenue Next Year21.64%
Revenue Next 2Y14.6%
Revenue Next 3Y13.15%
Revenue Next 5Y16.62%
EBIT growth 1Y19.87%
EBIT growth 3Y18.88%
EBIT growth 5Y20.28%
EBIT Next Year104.8%
EBIT Next 3Y37.81%
EBIT Next 5Y29.83%
FCF growth 1Y151.19%
FCF growth 3Y-4.92%
FCF growth 5Y11.51%
OCF growth 1Y44.66%
OCF growth 3Y20.74%
OCF growth 5Y19.7%

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 5 / 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 7 / 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 19.54 and the Price/Book (PB) ratio is 1.59.


How sustainable is the dividend of TERRENO REALTY CORP (TRNO) stock?

The dividend rating of TERRENO REALTY CORP (TRNO) is 5 / 10 and the dividend payout ratio is 62.29%.