TERRENO REALTY CORP (TRNO) Fundamental Analysis & Valuation

NYSE:TRNO • US88146M1018

Current stock price

65.28 USD
-1.05 (-1.58%)
At close:
65.28 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.
  • 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 2025 100M 200M 300M 400M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 7.45%, TRNO belongs to the top of the industry, outperforming 98.35% of the companies in the same industry.
  • TRNO has a better Return On Equity (9.68%) than 85.95% of its industry peers.
  • With a Return On Invested Capital value of 2.92%, TRNO perfoms like the industry average, outperforming 56.20% of the companies in the same 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 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

  • The Profit Margin of TRNO (84.22%) is better than 99.17% of its industry peers.
  • In the last couple of years the Profit Margin of TRNO has grown nicely.
  • Looking at the Operating Margin, with a value of 40.39%, TRNO belongs to the top of the industry, outperforming 85.95% of the companies in the same industry.
  • TRNO's Operating Margin has improved in the last couple of years.
  • The Gross Margin of TRNO (75.84%) is better than 72.73% of its industry peers.
  • TRNO's Gross Margin has been stable in the last couple of years.
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.
  • TRNO has more shares outstanding than it did 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

  • An Altman-Z score of 3.60 indicates that TRNO is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of TRNO (3.60) is better than 99.17% of its industry peers.
  • TRNO has a debt to FCF ratio of 6.81. This is a slightly negative value and a sign of low solvency as TRNO would need 6.81 years to pay back of all of its debts.
  • The Debt to FCF ratio of TRNO (6.81) is better than 94.21% of its industry peers.
  • A Debt/Equity ratio of 0.23 indicates that TRNO is not too dependend on debt financing.
  • TRNO has a better Debt to Equity ratio (0.23) than 95.04% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF 6.81
Altman-Z 3.6
ROIC/WACC0.36
WACC8.22%
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's Current ratio of 0.14 is on the low side compared to the rest of the industry. TRNO is outperformed by 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.
  • Looking at the Quick ratio, with a value of 0.14, TRNO is doing worse than 92.56% of the companies in the same industry.
  • 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.
  • 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%.
  • The Revenue has been growing by 20.58% on average over the past years. This is a very strong growth!
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

  • Based on estimates for the next years, TRNO will show a very negative growth in Earnings Per Share. The EPS will decrease by -37.91% on average per year.
  • 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 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

  • Based on the Price/Earnings ratio of 16.78, the valuation of TRNO can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of TRNO indicates a rather cheap valuation: TRNO is cheaper than 91.74% of the companies listed in the same industry.
  • TRNO is valuated rather cheaply when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 45.23 indicates a quite expensive valuation of TRNO.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of TRNO indicates a somewhat cheap valuation: TRNO is cheaper than 62.81% of the companies listed in the same industry.
  • TRNO is valuated expensively when we compare the Price/Forward Earnings ratio to 22.29, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 16.78
Fwd PE 45.23
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

  • TRNO's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. TRNO is more expensive than 86.78% of the companies in the same industry.
  • 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 50.09
EV/EBITDA 25.01
TRNO Per share dataTRNO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The excellent profitability rating of TRNO 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)0.52
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 7.44, TRNO is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.81, 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

  • 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 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 (4/24/2026, 8:11:41 PM)

After market: 65.28 0 (0%)

65.28

-1.05 (-1.58%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-04
Earnings (Next)05-06
Inst Owners106.53%
Inst Owner Change0.07%
Ins Owners1.92%
Ins Owner Change0.07%
Market Cap6.94B
Revenue(TTM)476.38M
Net Income(TTM)401.19M
Analysts77.5
Price Target71.66 (9.77%)
Short Float %5.72%
Short Ratio8.82
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 16.78
Fwd PE 45.23
P/S 14.56
P/FCF 50.09
P/OCF 25.52
P/B 1.67
P/tB 1.67
EV/EBITDA 25.01
EPS(TTM)3.89
EY5.96%
EPS(NY)1.44
Fwd EY2.21%
FCF(TTM)1.3
FCFY2%
OCF(TTM)2.56
OCFY3.92%
SpS4.48
BVpS39.02
TBVpS39.02
PEG (NY)N/A
PEG (5Y)0.52
Graham Number58.44 (-10.48%)
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 3.6
F-Score6
WACC8.22%
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 Year9.22%
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 16.78 and the Price/Book (PB) ratio is 1.67.


How financially healthy is TERRENO REALTY CORP?

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