TERRENO REALTY CORP (TRNO) Stock Fundamental Analysis
USA - NYSE:TRNO - US88146M1018 - REIT
60.24 USD
-0.5 (-0.82%)
We assign a fundamental rating of 6 out of 10 to TRNO. TRNO was compared to 128 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.
1. Profitability
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
The Return On Assets of TRNO (5.99%) is better than 97.66% of its industry peers.
TRNO has a Return On Equity of 8.00%. This is amongst the best in the industry. TRNO outperforms 82.03% of its industry peers.
TRNO's Return On Invested Capital of 2.67% is in line compared to the rest of the industry. TRNO outperforms 48.44% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for TRNO is in line with the industry average of 3.04%.
| Industry Rank | Sector 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%
1.3 Margins
The Profit Margin of TRNO (72.18%) is better than 99.22% of its industry peers.
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 85.16% of the companies in the same industry.
TRNO's Operating Margin has improved in the last couple of years.
The Gross Margin of TRNO (74.53%) is better than 71.88% of its industry peers.
TRNO's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector 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%
2. Health
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.
The debt/assets ratio for TRNO has been reduced compared to a year ago.
2.2 Solvency
TRNO has an Altman-Z score of 3.03. This indicates that TRNO is financially healthy and has little risk of bankruptcy at the moment.
With an excellent Altman-Z score value of 3.03, TRNO belongs to the best of the industry, outperforming 96.09% of the companies in the same industry.
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 has a better Debt to FCF ratio (8.73) than 92.97% of its industry peers.
TRNO has a Debt/Equity ratio of 0.26. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.26, TRNO belongs to the top of the industry, outperforming 96.88% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.26 | ||
| Debt/FCF | 8.73 | ||
| Altman-Z | 3.03 |
ROIC/WACC0.33
WACC8.02%
2.3 Liquidity
A Current Ratio of 0.15 indicates that TRNO may have some problems paying its short term obligations.
TRNO has a worse Current ratio (0.15) than 93.75% of its industry peers.
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: 92.97% of the companies in the same industry are doing better.
The current and quick ratio evaluation for TRNO is rather negative, while it does have 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 | 0.15 | ||
| Quick Ratio | 0.15 |
3. Growth
3.1 Past
TRNO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 74.03%, which is quite impressive.
The Earnings Per Share has been growing by 17.70% on average over the past years. This is quite good.
The Revenue has grown by 21.13% in the past year. This is a very strong growth!
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
Based on estimates for the next years, TRNO will show a decrease in Earnings Per Share. The EPS will decrease by -1.30% on average per year.
TRNO is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 18.00% yearly.
EPS Next Y-0.83%
EPS Next 2Y-10.24%
EPS Next 3Y-1.3%
EPS Next 5YN/A
Revenue Next Year19.61%
Revenue Next 2Y15.16%
Revenue Next 3Y13.61%
Revenue Next 5Y18%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 19.12, which indicates a rather expensive current valuation of TRNO.
85.16% of the companies in the same industry are more expensive than TRNO, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 25.89, TRNO is valued a bit cheaper.
With a Price/Forward Earnings ratio of 38.94, TRNO can be considered very expensive at the moment.
64.84% of the companies in the same industry are more expensive than TRNO, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of TRNO to the average of the S&P500 Index (34.59), we can say TRNO is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.12 | ||
| Fwd PE | 38.94 |
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 90.63% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, TRNO is valued a bit cheaper than the industry average as 62.50% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 53.08 | ||
| EV/EBITDA | 25.65 |
4.3 Compensation for Growth
The excellent profitability rating of TRNO may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.08
EPS Next 2Y-10.24%
EPS Next 3Y-1.3%
5. Dividend
5.1 Amount
TRNO has a Yearly Dividend Yield of 3.40%. Purely for dividend investing, there may be better candidates out there.
TRNO's Dividend Yield is slightly below the industry average, which is at 6.49.
Compared to an average S&P500 Dividend Yield of 2.44, TRNO pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.4% |
5.2 History
On average, the dividend of TRNO grows each year by 13.58%, 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)13.58%
Div Incr Years11
Div Non Decr Years11
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 2Y-10.24%
EPS Next 3Y-1.3%
NYSE:TRNO (11/17/2025, 2:15:43 PM)
60.24
-0.5 (-0.82%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners110.79%
Inst Owner Change-0.39%
Ins Owners1.93%
Ins Owner Change2.93%
Market Cap6.22B
Revenue(TTM)442.61M
Net Income(TTM)319.48M
Analysts74.17
Price Target64.5 (7.07%)
Short Float %5.19%
Short Ratio7.65
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.4% |
Yearly Dividend1.87
Dividend Growth(5Y)13.58%
DP62.29%
Div Incr Years11
Div Non Decr Years11
Ex-Date
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)1.38%
PT rev (3m)-1.48%
EPS NQ rev (1m)15.45%
EPS NQ rev (3m)8.55%
EPS NY rev (1m)0%
EPS NY rev (3m)19.15%
Revenue NQ rev (1m)2.2%
Revenue NQ rev (3m)1.6%
Revenue NY rev (1m)-0.07%
Revenue NY rev (3m)-0.25%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.12 | ||
| Fwd PE | 38.94 | ||
| P/S | 14.06 | ||
| P/FCF | 53.08 | ||
| P/OCF | 24.6 | ||
| P/B | 1.56 | ||
| P/tB | 1.56 | ||
| EV/EBITDA | 25.65 |
EPS(TTM)3.15
EY5.23%
EPS(NY)1.55
Fwd EY2.57%
FCF(TTM)1.13
FCFY1.88%
OCF(TTM)2.45
OCFY4.06%
SpS4.28
BVpS38.68
TBVpS38.68
PEG (NY)N/A
PEG (5Y)1.08
Graham Number52.36
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 3.03 |
F-Score4
WACC8.02%
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 Y-0.83%
EPS Next 2Y-10.24%
EPS Next 3Y-1.3%
EPS Next 5YN/A
Revenue 1Y (TTM)21.13%
Revenue growth 3Y19.91%
Revenue growth 5Y17.48%
Sales Q2Q%16.67%
Revenue Next Year19.61%
Revenue Next 2Y15.16%
Revenue Next 3Y13.61%
Revenue Next 5Y18%
EBIT growth 1Y19.87%
EBIT growth 3Y18.88%
EBIT growth 5Y20.28%
EBIT Next Year100.2%
EBIT Next 3Y37.86%
EBIT Next 5Y31.03%
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.
What is the valuation status of TERRENO REALTY CORP (TRNO) stock?
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 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 19.12 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 6 / 10.