First Industrial Realty Trust, Inc. (FR) vs Terreno Realty Corporation (TRNO)

First Industrial Realty Trust, Inc. and Terreno Realty Corporation are both Reit Industrial companies. First Industrial Realty Trust, Inc. is the larger, with a market value of $8.4B against $7.2B — 1.2× the size. Terreno Realty Corporation trades at the lower P/E: 17.7× against 22.3×. Terreno Realty Corporation grew revenue faster over the last twelve months: 18.1% against 8.44%. Terreno Realty Corporation has the higher net margin (76.9% vs 47.9%) and the lower return on invested capital (2.42% vs 3.71%). Both pay a dividend; Terreno Realty Corporation yields more (2.67% vs 2.57%). Across the 22 metrics below, Terreno Realty Corporation leads on 13 and First Industrial Realty Trust, Inc. on 9.

Valuation

Metric FR TRNO Reit Industrial median
P/E 22.32 17.71 28.30
P/S 10.68 14.00 8.16
P/B 2.83 1.59 1.89
Price to free cash flow 78.34 n/m 21.44
EV/EBITDA 20.09 25.97 17.97
EV/Sales 13.91 15.87 11.71
Earnings yield 4.48% 5.65% 3.38%
Free cash flow yield 1.28% (9.75%) 2.71%

Profitability

Metric FR TRNO Reit Industrial median
Gross margin 73.76% 76.17% 73.76%
Operating margin 41.59% 41.39% 39.85%
Net margin 47.94% 76.92% 28.04%
Free cash flow margin 13.63% (136.53%) 13.63%
Return on equity 13.00% 9.24% 6.83%
Return on assets 6.48% 7.23% 3.45%
Return on invested capital 3.71% 2.42% 2.92%

Growth

Metric FR TRNO Reit Industrial median
Revenue growth (TTM) 8.44% 18.05% 3.86%
EPS growth (last fiscal year) (13.82%) 103.65% —
Revenue growth, 5-year CAGR 10.17% 20.58% 13.33%
Net income growth, 5-year CAGR 4.76% 38.26% 9.91%

Health

Metric FR TRNO Reit Industrial median
Debt to equity 0.89 0.22 0.84
Current ratio 1.44 0.43 0.78
Net debt to EBITDA 4.87 3.36 4.76

Dividend

Metric FR TRNO Reit Industrial median
Dividend yield 2.57% 2.67% 3.14%
Payout ratio 0.51 0.87 1.14

Size

Metric FR TRNO Reit Industrial median
Market cap 8.41b 7.24b 8.24b

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