TRNO

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Terreno Realty Corp.

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Key Metrics

Previous Close: $68.59
52-Week Range: $54.97 – $78.94
Market Cap: $7.45B
P/E (TTM): 18.39
EPS (TTM): 3.72
Dividend Yield: 3.32%

Advanced Metrics

Price/Book: 1.68
PEG Ratio: 7.15
Return on Equity: 9.28%
Return on Assets: 2.44%
Gross Margin: 76.21%
Operating Margin: 41.77%
Profit Margin: 77.27%
Current Ratio: 0.62
Debt/Equity: 0.21
Total Debt: $948.29M
Free Cash Flow: $319.52M
Revenue Growth: 11.10%
Earnings Growth: -40.20%
Enterprise Value: $8.35B

TRNO Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$276.21M	$323.59M	$382.62M	$476.38M
Cost of Revenue	$68.90M	$79.08M	$98.09M	$115.10M
Gross Profit	$207.31M	$244.50M	$284.53M	$361.28M
Selling, General & Admin	$31.19M	$37.94M	$42.59M	$47.27M
Operating Expenses	$96.95M	$111.15M	$136.50M	$168.85M
Operating Income	$110.35M	$133.35M	$148.03M	$192.43M
EBITDA	$287.63M	$249.47M	$299.33M	$557.43M
Pretax Income	$198.01M	$151.46M	$184.50M	$402.99M
Net Income	$198.01M	$151.46M	$184.50M	$402.99M
Diluted EPS	2.61	1.81	1.92	3.91
Diluted Shares	75.59M	83.37M	95.84M	102.72M

TRNO Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$26.39M	$165.40M	$18.07M	$25.02M
Current Assets	$28.08M	$166.24M	$24.61M	$27.93M
Total Assets	$3.16B	$3.90B	$4.77B	$5.39B
Current Liabilities	$80.44M	$100.83M	$210.09M	$331.46M
Long-Term Debt	$770.82M	$771.56M	$741.44M	$743.34M
Total Debt	$770.82M	$771.56M	$823.44M	$943.34M
Total Liabilities	$934.59M	$990.05M	$1.11B	$1.24B
Retained Earnings	$88.27M	$95.58M	$95.29M	$289.12M
Shareholders' Equity	$2.23B	$2.91B	$3.66B	$4.15B
Working Capital	-$52.36M	$65.40M	-$185.48M	-$303.53M
Net Debt	$744.42M	$606.16M	$805.37M	$918.32M

TRNO Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$143.21M	$179.68M	$232.69M	$271.86M
Capital Expenditure	-$66.61M	-$53.05M	-$46.43M	-$63.41M
Free Cash Flow	$76.60M	$126.62M	$186.25M	$208.46M
Depreciation & Amortisation	$49.49M	$59.30M	$76.63M	$92.28M
Stock-Based Compensation	$10.17M	$13.47M	$14.93M	$17.72M
Investing Cash Flow	-$337.66M	-$570.39M	-$915.48M	-$452.39M
Financing Cash Flow	$17.73M	$528.86M	$534.91M	$187.76M
Dividends Paid	-$107.41M	-$135.85M	-$174.97M	-$203.89M
Net Change in Cash	-$176.72M	$138.15M	-$147.88M	$7.24M

TRNO Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$110.42M	$112.23M	$116.25M	$137.48M	$124.44M
Cost of Revenue	$28.77M	$27.91M	$28.23M	$30.19M	$31.80M
Gross Profit	$81.65M	$84.33M	$88.02M	$107.29M	$92.64M
Selling, General & Admin	$11.73M	$12.35M	$11.58M	$11.60M	$12.43M
Operating Expenses	$38.66M	$40.37M	$39.96M	$49.85M	$41.92M
Operating Income	$42.99M	$43.95M	$48.06M	$57.43M	$50.73M
EBITDA	$82.98M	$128.33M	$140.12M	$205.99M	$107.91M
Pretax Income	$48.13M	$93.27M	$103.38M	$158.22M	$69.43M
Net Income	$48.13M	$93.27M	$103.38M	$158.22M	$69.43M
Diluted EPS	0.47	0.90	1.00	—	0.66
Diluted Shares	101.05M	103.01M	103.14M	—	105.22M

TRNO Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$156.50M	$128.37M	$26.15M	$25.02M	$87.87M
Current Assets	$157.13M	$190.36M	$57.15M	$27.93M	$107.59M
Total Assets	$4.91B	$4.98B	$5.33B	$5.39B	$5.55B
Current Liabilities	$117.31M	$124.06M	$416.46M	$331.46M	$151.67M
Long-Term Debt	$741.91M	$742.39M	$742.86M	$743.34M	$942.05M
Total Debt	$741.91M	$742.39M	$1.02B	$943.34M	$942.05M
Total Liabilities	$1.01B	$1.04B	$1.33B	$1.24B	$1.26B
Retained Earnings	$92.79M	$135.43M	$185.04M	$289.12M	$303.27M
Shareholders' Equity	$3.90B	$3.94B	$4.00B	$4.15B	$4.30B
Working Capital	$39.81M	$66.30M	-$359.31M	-$303.53M	-$44.08M
Net Debt	$585.41M	$614.02M	$996.71M	$918.32M	$854.17M

TRNO Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$61.43M	$60.63M	$79.53M	$70.27M	$61.93M
Capital Expenditure	-$18.89M	-$10.03M	-$14.05M	-$20.44M	-$14.00M
Free Cash Flow	$42.54M	$50.61M	$65.48M	$49.83M	$47.93M
Depreciation & Amortisation	$21.92M	$22.69M	$22.45M	$25.22M	$24.15M
Stock-Based Compensation	$4.25M	$4.87M	$4.28M	$4.32M	$4.50M
Investing Cash Flow	-$23.83M	-$38.25M	-$409.68M	$19.37M	-$73.66M
Financing Cash Flow	$101.17M	-$50.68M	$228.08M	-$90.81M	$74.71M
Dividends Paid	-$48.87M	-$50.63M	-$50.63M	-$53.77M	-$54.13M
Net Change in Cash	$138.77M	-$28.29M	-$102.07M	-$1.17M	$62.97M

Market Snapshot

About

Terreno Realty is a real estate investment trust (REIT) that acquires, owns, and operates industrial real estate in six major coastal U.S. markets. The company focuses on warehouse and distribution properties in infill locations with proximity to transportation infrastructure and dense populations. Terreno generates revenue by leasing properties to businesses requiring strategically located industrial space.