Saturday 17 October 2026 Export TRNO’s income statement to Excel — free account

Terreno Realty Corporation

Terreno Realty Corporation’s revenue for fiscal 2025 (year ended December 2025) was $476.4 million, up 24.5% from fiscal 2024. In the quarter to June 2026, revenue grew 11.1%, EPS fell 40.0%, free cash flow fell 173.9% and total debt rose 26.7%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for ten.

64.06 0.13 +0.20%

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Market cap: $7.0B
P/E: 17.2×
Fwd P/E: 32.9×
Dividend yield: 3.33%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.85

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	—	—	1	—	—	—	—	—	3	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 6,970.00

Revenue 502.88

Net Income 388.59

Free Cash Flow (686.58)

Net Debt 940.20

Current Ratio 0.43

Debt/Equity 0.22

P/E ratio 17.17

Fwd P/E 32.90

P/S ratio 13.57

P/B ratio 1.54

Past 5Y EPS Growth 27.51%

This Y EPS Growth (46.17%)

Next Y EPS Growth (11.53%)

Next Y revenue growth 7.46%

Next 5Y EPS Growth (20.23%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 4.68%

10-year low 10-year high

P/S against its own 10 years 18.65%

10-year low 10-year high

P/B against its own 10 years 13.53%

10-year low 10-year high

EV/Sales against its own 10 years 13.97%

10-year low 10-year high

Dividends

Payout Ratio 0.57

Annual Dividend Rate 2.13

Annual Dividend Yield 3.33%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.16	0.52 0.52 0.57
2025	2.02	0.49 0.49 0.52 0.52
2024	1.88	0.45 0.45 0.49 0.49
2023	1.70	0.40 0.40 0.45 0.45
2022	1.48	0.34 0.34 0.40 0.40
2021	1.31	0.29 0.34 0.34 0.34
2020	1.12	0.27 0.27 0.29 0.29
2019	1.02	0.24 0.24 0.27 0.27
2018	0.92	0.22 0.22 0.24 0.24
2017	0.84	0.20 0.20 0.22 0.22
2016	0.76	0.18 0.18 0.20 0.20

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	165	18	25	51
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	165	18	25	51

	2023	2024	2025	Q'26
Payables	62	79	77	119
ST’ Debt	—	—	—	—
Other	—	—	—	—
	62	79	77	119

Compound Annual Growth %

	10y	5y	3y
Sales	17.39%	20.58%	19.92%
Cash Flow	20.51%	21.89%	23.82%
Earnings	43.34%	38.26%	26.72%
Book Value	18.92%	21.16%	22.97%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	124	125	—	—	—
’25	110	112	116	137	476
’24	85	94	100	104	383
’23	75	80	83	86	324
’22	64	65	71	76	276
’21	51	53	57	61	222
’20	45	46	47	49	187

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	62	75	—	—	—
’25	61	61	80	70	272
’24	47	64	70	51	233
’23	39	49	53	39	180
’22	28	35	46	34	143
’21	26	33	39	34	132
’20	22	23	32	24	101

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	37	(244)	—	—	—
’25	14	(89)	(429)	(51)	(555)
’24	(12)	(434)	12	(320)	(755)
’23	(349)	5	(20)	(100)	(464)
’22	(69)	(194)	(49)	(45)	(357)
’21	(86)	(38)	(147)	(304)	(575)
’20	(19)	4	14	(37)	(38)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.66	0.54	—	—	—
’25	0.47	0.90	1.00	1.53	3.91
’24	0.40	0.37	0.37	0.78	1.92
’23	0.29	0.48	0.36	0.68	1.81
’22	0.26	1.28	0.29	0.78	2.61
’21	0.24	0.25	0.30	0.44	1.23
’20	0.19	0.45	0.33	0.19	1.16

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	20.44	26.30	31.56	33.98	42.12	53.98	50.36	50.42	53.78	48.18	Analyst estimates 2026–2028 Powerpack
	High	29.08	38.54	39.62	58.21	64.24	86.00	85.92	67.03	71.63	69.20
People
People	Employees	19	22	23	24	26	34	40	42	49	47
	Revenue/emp, $m	5.71	6.02	6.59	7.13	7.19	6.53	6.91	7.70	7.81	10.14
Income, $m
Income, $m	Revenue	108	132	152	171	187	222	276	324	383	476
	Gross margin, %	72.03	72.92	73.63	74.15	73.73	74.66	75.05	75.56	74.36	75.84
	EBT	15	53	63	56	80	87	198	151	184	403
	EBT margin, %	13.94	40.08	41.73	32.46	42.70	39.32	71.69	46.81	48.22	84.59
	Net income	15	53	63	56	80	87	198	151	184	403
	Depreciation	34	37	38	40	42	44	51	61	78	96
Per share, $
Per share, $	Revenue	2.42	2.58	2.64	2.65	2.76	3.15	3.66	3.89	4.01	4.65
	Earnings	0.26	0.95	1.09	0.86	1.17	1.23	2.61	1.81	1.92	3.92
	Cash flow	1.10	1.35	1.35	1.47	1.49	1.87	1.90	2.16	2.44	2.65
	Capex	(3.82)	(6.32)	(4.53)	(4.63)	(2.05)	(10.03)	(6.62)	(7.74)	(10.34)	(8.07)
	Free cash flow	(2.72)	(4.97)	(3.18)	(3.17)	(0.56)	(8.16)	(4.72)	(5.58)	(7.90)	(5.42)
	Book value	18.15	20.01	21.71	23.55	23.44	29.18	29.54	35.04	38.34	40.47
	Shares, m	45	51	57	64	68	71	75	83	96	102
Valuation, ×
Valuation, ×	P/E	109.50	36.74	32.56	63.69	50.01	69.34	21.73	34.79	30.80	15.02
	P/S	11.74	13.53	13.33	20.40	21.22	27.11	15.50	16.18	14.76	12.63
	P/B	1.66	1.74	1.62	2.30	2.50	2.92	1.92	1.80	1.54	1.45
	EV/Sales	15.54	16.83	16.25	22.71	23.17	29.54	18.30	18.16	16.97	14.65
	EV/FCF	(13.83)	(8.74)	(13.48)	(19.04)	(115.06)	(11.40)	(14.17)	(12.67)	(8.61)	(12.58)
Cash, $m
Cash, $m	Operating cash flow	49	69	78	95	101	132	143	180	233	272
	Capex	(171)	(325)	(260)	(299)	(139)	(708)	(500)	(643)	(987)	(827)
	Free cash flow	(122)	(255)	(183)	(204)	(38)	(575)	(357)	(464)	(755)	(555)
Balance, $m
Balance, $m	Working capital	(4)	14	6	82	80	159	(23)	104	(61)	(52)
	Total debt	425	473	474	506	473	745	798	804	863	991
	Net debt	411	437	443	396	366	540	772	639	845	966
	Shareholders’ equity	812	1,027	1,248	1,517	1,588	2,058	2,230	2,915	3,662	4,146
Returns, %
Returns, %	ROA	0.94	3.44	3.74	2.83	3.74	3.43	6.48	4.26	4.24	7.90
	ROIC	1.09	1.67	1.82	1.92	2.18	2.11	2.27	2.34	2.05	2.35
	ROE	1.58	5.47	5.53	3.99	5.11	4.77	9.20	5.86	5.59	10.28

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EGP EastGroup Properties, Inc.	$10.5B	34.4×	34.0×	+9.05% (above 0%: growing)	+16.53% (above 0%: growing)	+447.46% (above 0%: growing)	73.78%	40.76%	Compare
CUBE CubeSmart	$8.7B	26.7×	28.0×	+1.48% (above 0%: growing)	+11.11% (above 0%: growing)	−5.25% (below 0%: shrinking)	66.48%	40.97%	Compare
REXR Rexford Industrial Realty, Inc.	$8.2B	— (loss-making)	27.3×	−1.60% (below 0%: shrinking)	n/m	+30.62% (above 0%: growing)	77.10%	41.60%	Compare
FR First Industrial Realty Trust, Inc.	$8.1B	21.4×	26.9×	+8.20% (above 0%: growing)	+38.10% (above 0%: growing)	+183.07% (above 0%: growing)	75.40%	45.08%	Compare
LINE Lineage, Inc.	$7.8B	— (loss-making)	— (loss-making)	+0.81% (above 0%: growing)	n/m	+91.92% (above 0%: growing)	31.23%	3.97%	Compare
TRNO Terreno Realty Corporation	$7.0B	17.2×	32.9×	+11.12% (above 0%: growing)	−40.00% (below 0%: shrinking)	−173.91% (below 0%: shrinking)	76.25%	41.77%
STAG Stag Industrial, Inc.	$6.9B	27.6×	33.3×	+8.08% (above 0%: growing)	+3.70% (above 0%: growing)	−536.34% (below 0%: shrinking)	79.93%	37.04%	Compare
COLD Americold Realty Trust Inc.	$4.0B	— (loss-making)	— (loss-making)	+1.87% (above 0%: growing)	n/m	+63.81% (above 0%: growing)	32.08%	(43.42%)	Compare
LXP LXP Industrial Trust	$3.6B	61.1×	614×	+0.45% (above 0%: growing)	n/m	−175.97% (below 0%: shrinking)	81.64%	16.08%	Compare
Median of peers	$7.9B	27.6×	30.7×	+1.68%	+13.82%	+47.22%	74.59%	38.90%

All 15 Reit Industrial stocks →

Terreno Realty Corporation (TRNO) key facts

Strength: Terreno Realty Corporation’s revenue for fiscal 2025 (year ended December 2025) was $476.4 million, up 24.5% from fiscal 2024.
Terreno Realty Corporation (TRNO) is a Reit Industrial company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 16, 2026, TRNO traded at $64.06, a market capitalization of $7.0 billion.
Terreno Realty Corporation pays an annual dividend of $2.13 per share, a yield of 3.33%, with a payout ratio of 57.1%.
Return on equity was 10.3% and debt-to-equity 0.22.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.