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Terreno Realty Corp TRNO

NYSE · reit · Real Estate · website · IPO 2010-02-10

Terreno Realty Corp statistics & valuation

Market cap$7.0B
P / E17.3×
P / S14.7×
P / B1.7×
Dividend yield2.92%
Net margin84.6%
Return on equity9.7%
Net debt$918.3M
Enterprise value USD$7.9B
Graham number -13.8%$59.35

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($59.35); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
13.90% 40.10% 41.70% 32.50% 42.70% 39.30% 71.70% 46.80% 48.20% 84.60% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
1.90% 5.20% 5.10% 3.70% 5.00% 4.20% 8.90% 5.20% 5.00% 9.70% 2016201720182019202020212022202320242025
Shares outstanding
47.4M 55.4M 61.0M 67.3M 68.4M 75.1M 76.5M 87.5M 99.2M 103.6M 2016201720182019202020212022202320242025
Net debt ($)
$401.1M $426.0M $431.1M $381.5M $351.9M $516.3M $744.4M $606.2M $805.4M $918.3M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.20% 3.40% 3.50% 2.60% 3.70% 3.00% 6.30% 3.90% 3.90% 7.50% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.51× 0.45× 0.37× 0.32× 0.29× 0.35× 0.35× 0.26× 0.22× 0.23× 2016201720182019202020212022202320242025
EPS ($)
$0.95 $1.09 $0.85 $1.16 $1.23 $2.61 $1.81 $1.92 $3.91 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Terreno Realty Corp trades at about 17.6× earnings — below its 10-year norm (10-year range 15.7×–67.4×, median 37×).

15.7× 67.4×

Shaded band = 10-year range (15.7×–67.4×); dot = today's 17.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin84.6%48.2%46.8%71.7%39.3%42.7%32.5%41.7%40.1%13.9%
Return on assets7.5%3.9%3.9%6.3%3.0%3.7%2.6%3.5%3.4%1.2%
Return on equity9.7%5.0%5.2%8.9%4.2%5.0%3.7%5.1%5.2%1.9%
Debt / equity0.23×0.22×0.26×0.35×0.35×0.29×0.32×0.37×0.45×0.51×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.