TERRENO REALTY CORP (TRNO) Fundamental Analysis & Valuation

NYSE:TRNO • US88146M1018

Current stock price

60.69 USD
-1.09 (-1.76%)
At close:
60.69 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.
  • 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 98.37% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 9.68%, TRNO belongs to the top of the industry, outperforming 85.37% of the companies in the same industry.
  • With a Return On Invested Capital value of 2.92%, TRNO perfoms like the industry average, outperforming 55.28% 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 3.13%.
  • 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 99.19% of the companies in the same industry.
  • In the last couple of years the Profit Margin of TRNO has grown nicely.
  • TRNO has a Operating Margin of 40.39%. This is amongst the best in the industry. TRNO outperforms 86.18% of its industry peers.
  • In the last couple of years the Operating Margin of TRNO has grown nicely.
  • The Gross Margin of TRNO (75.84%) is better than 73.17% 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

  • 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
  • Compared to 5 years ago, TRNO has more shares outstanding
  • 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 3.36 indicates that TRNO is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 3.36, TRNO belongs to the top of the industry, outperforming 99.19% of the companies in the same industry.
  • 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.
  • TRNO's Debt to FCF ratio of 6.81 is amongst the best of the industry. TRNO outperforms 94.31% of its industry peers.
  • A Debt/Equity ratio of 0.23 indicates that TRNO is not too dependend on debt financing.
  • TRNO's Debt to Equity ratio of 0.23 is amongst the best of the industry. TRNO outperforms 95.94% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF 6.81
Altman-Z 3.36
ROIC/WACC0.35
WACC8.27%
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 92.68% of its industry peers.
  • A Quick Ratio of 0.14 indicates that TRNO may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.14, TRNO is doing worse than 92.68% 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

  • 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.
  • 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%.
  • TRNO shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 20.58% yearly.
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.
  • The Revenue is expected to grow by 10.79% on average over the next years. This is quite good.
EPS Next Y-62.89%
EPS Next 2Y-37.91%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.6%
Revenue Next 2Y8.81%
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.
  • 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

  • With a Price/Earnings ratio of 15.60, TRNO is valued correctly.
  • Based on the Price/Earnings ratio, TRNO is valued cheaper than 91.06% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of TRNO to the average of the S&P500 Index (24.88), we can say TRNO is valued slightly cheaper.
  • Based on the Price/Forward Earnings ratio of 42.05, the valuation of TRNO can be described as expensive.
  • 65.04% of the companies in the same industry are more expensive than TRNO, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, TRNO is valued quite expensively.
Industry RankSector Rank
PE 15.6
Fwd PE 42.05
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 86.99% of the companies are valued cheaper.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of TRNO indicates a somewhat cheap valuation: TRNO is cheaper than 69.11% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 45.66
EV/EBITDA 23.42
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)0.48
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 3.37%.
  • Compared to an average industry Dividend Yield of 7.55, 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 3.37%

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 their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)12.59%
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 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 (3/27/2026, 8:04:00 PM)

After market: 60.69 0 (0%)

60.69

-1.09 (-1.76%)

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 Change-1.75%
Ins Owners1.9%
Ins Owner Change0.07%
Market Cap6.32B
Revenue(TTM)476.38M
Net Income(TTM)401.19M
Analysts77.5
Price Target71.66 (18.08%)
Short Float %5.58%
Short Ratio7.53
Dividend
Industry RankSector Rank
Dividend Yield 3.37%
Yearly Dividend2.01
Dividend Growth(5Y)12.59%
DP50.82%
Div Incr Years11
Div Non Decr Years11
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)4.78%
PT rev (3m)5.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.82%
EPS NY rev (1m)-12.47%
EPS NY rev (3m)-8.12%
Revenue NQ rev (1m)-0.06%
Revenue NQ rev (3m)0.56%
Revenue NY rev (1m)0.59%
Revenue NY rev (3m)-0.98%
Valuation
Industry RankSector Rank
PE 15.6
Fwd PE 42.05
P/S 13.27
P/FCF 45.66
P/OCF 23.26
P/B 1.52
P/tB 1.52
EV/EBITDA 23.42
EPS(TTM)3.89
EY6.41%
EPS(NY)1.44
Fwd EY2.38%
FCF(TTM)1.33
FCFY2.19%
OCF(TTM)2.61
OCFY4.3%
SpS4.57
BVpS39.8
TBVpS39.8
PEG (NY)N/A
PEG (5Y)0.48
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 3.36
F-Score6
WACC8.27%
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 Year8.6%
Revenue Next 2Y8.81%
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.


Can you provide the profitability details for TERRENO REALTY CORP?

TERRENO REALTY CORP (TRNO) has a profitability rating of 8 / 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 15.6 and the Price/Book (PB) ratio is 1.52.


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

The dividend rating of TERRENO REALTY CORP (TRNO) is 6 / 10 and the dividend payout ratio is 50.82%.