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Terreno Realty Corp. (TRNO)

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Terreno Realty Corp. (TRNO) reported revenue of $125 million for Q2 FY2026, the quarter ended 30 June 2026, up 11.1% on the same quarter a year earlier. Net income was $58 million, down 38.3% on the year, and diluted earnings per share $0.54. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$125 millionup 11.1%
Net income$58 milliondown 38.3%
Diluted EPS$0.54
QuarterQ2 FY2026ended 30 June 2026

Terreno Realty (TRNO) in brief

Terreno Realty (TRNO) reported revenue of $476 million for fiscal 2025, the year ended 31 December 2025, up 24.5% on the year before.
Read moreNet income was $403 million and diluted earnings per share $3.91. Revenue was $383 million in fiscal 2024, $324 million in fiscal 2023, $276 million in fiscal 2022 and $222 million in fiscal 2021. Net income in the same years was $184 million, $151 million, $198 million and $87 million. Over the twelve months to 30 June 2026, Terreno Realty reported revenue of $503 million and net income of $389 million. Revenue grew 20.6% a year, compounded, over the five years to fiscal 2025. Terreno Realty declared $2.08 a share in dividends over the last four quarters and had 108 million shares outstanding at the latest filed count. At the close of 9 October 2026 the market cap of Terreno Realty was $7.0 billion, 17.3 times its earnings over the last twelve months.

Ratios

From the filings

ROE8.8%
ROCE3.9%
Operating margin41.4%
Net margin77.3%
FCF margin43.1%
Interest cover5.91
Debt to equity0.21
Cash conversion0.74
Share count, 1 year4.8%
Sales CAGR, 3 years19.9%
Profit CAGR, 3 years26.7%
EPS, TTM$3.74

At the close of 9 October 2026

Price$64.80
Market cap$7.0 billion
Stock P/E17.33
Price to book1.57
EV / EBITDA23.61
Dividend yield3.2%
Market cap / sales13.88
52-week high$75.08
52-week low$55.94
Price, 1 year12.6%
Price CAGR, 3 years4.3%
Price CAGR, 5 years-0.2%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Terreno Realty Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
TRNOgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TRNO

Filings11 in twelve months: 4 current reports (8-K), about 1 shareholder vote; 1 other events; 1 material agreement; 1 new financial obligation; 1 officer or director change
Planned insider sales5 Form 144 notices in twelve months, $1.9 million; latest 11 August 2026
Options tapeput/call 0.1 by open interest at the 9 October 2026 close; the straddle prices a 15.1% move to 16 October 2026
13F holders4 of the followed funds hold it; largest FMR LLC; 4 Schedule 13D or 13G filings in twelve months
Insider trading5 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest6.4 million shares short, 6.82 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 0 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue82.986.585.094.299.6104110112116137124125
Operating income35.036.432.736.939.239.243.043.748.057.450.752.1
Operating margin42%42%38%39%39%38%39%39%41%42%41%42%
Interest expense5.85.75.25.54.95.37.97.08.49.59.08.3
Net income30.357.636.135.736.676.148.193.310315869.457.6
Net margin37%67%42%38%37%73%44%83%89%115%56%46%
Diluted EPS$0.36$0.68$0.40$0.37$0.37$0.78$0.47$0.90$1.00$1.54$0.66$0.54
Operating cash flow53.339.147.064.370.051.361.460.679.570.361.974.9
Capital expenditure12.413.87.99.013.815.818.910.014.020.414.021.2
Free cash flow40.925.339.255.456.235.542.550.665.549.847.953.7
Buybacks0.80.01.00.12.30.01.90.11.30.02.30.0
Dividends paid33.538.439.143.543.548.948.950.650.653.854.155.3
Shares outstanding85m87m96m96m99m99m103m103m103m104m106m108m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue68.995.9108132152171187222276324383476503
Operating income17.313.721.239.049.258.868.287.9109133148192208
Operating margin25.1%14.2%19.6%29.5%32.5%34.4%36.5%39.6%39.4%41.1%38.7%40.3%41.4%
Interest expense6.69.613.116.818.216.316.018.123.924.820.932.935.2
Net income10.714.615.153.163.355.579.887.3198151184403389
Net margin15.6%15.2%13.9%40.1%41.7%32.5%42.7%39.3%71.7%46.8%48.2%84.6%77.3%
Diluted EPS$0.23$0.26$0.26$0.95$1.09$0.85$1.16$1.23$2.61$1.81$1.92$3.91$3.74
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow29.342.149.269.577.694.7101132143180233272287
Capital expenditure19.718.826.927.429.032.131.651.366.653.146.463.469.7
Free cash flow9.623.222.342.148.662.669.480.976.6127186208217
Free cash flow margin13.9%24.2%20.6%31.8%32.1%36.6%37.2%36.5%27.7%39.1%48.7%43.8%43.1%
Cash from investing-250-255-150-249-235-251-52.1-666-338-570-915-452-650
Cash from financing40445.193.8204149235-53.963117.7529535188287
Depreciation and amortisation19.236.034.437.940.844.045.950.765.873.293.9122125
Share-based compensation2.16.19.48.79.310.69.89.610.213.514.917.718.0
Buybacks0.30.51.63.43.94.09.80.61.01.53.33.33.7
Dividends paid15.827.533.241.951.463.674.884.6107136175204214
Dividend per sharen/an/an/an/an/a$1.02$1.12$1.26$1.48$1.70$1.88$2.02$2.08
Diluted shares, weightedn/an/an/a51m57m65m68m71m76m83m96m103m107m
Shares outstanding at period end43m43m47m55m61m67m67m75m76m87m99m104m108m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity7477338121,0271,2481,5171,5882,0582,2302,9153,6624,1464,432
Debt305384415462462492459721771772823943942
Other liabilities25.235.051.878.786.699.892.5146164218284298337
Total liabilities and equity1,0771,1521,2791,5681,7972,1082,1402,9243,1643,9054,7705,3885,712
Owned
Intangible assetsn/an/a18.14.1n/an/an/an/an/an/an/an/an/a
Loansn/an/an/a0.054.515.9n/an/an/an/an/an/an/a
Cash and equivalents19122.414.235.731.011010720426.416518.125.051.2
Other assets8861,1301,2471,5281,7111,9832,0332,7203,1383,7394,7525,3635,661
Total assets1,0771,1521,2791,5681,7972,1082,1402,9243,1643,9054,7705,3885,712
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded17.4%20.6%19.9%18.0%
Profit growth, compounded39.3%38.2%26.7%52.9%
Return on equity, average5.4%6.6%6.7%9.7%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Terreno Realty's revenue in fiscal 2025?

Terreno Realty (TRNO) reported revenue of $476 million for fiscal 2025, the year ended 31 December 2025, up 24.5% on the year before.

How much did Terreno Realty earn in fiscal 2025?

Net income was $403 million for fiscal 2025, and diluted earnings per share $3.91.

What is Terreno Realty's P/E ratio?

At the close of 9 October 2026, Terreno Realty traded at 17.3 times its earnings over the twelve months to 30 June 2026.

What is Terreno Realty's market cap?

The market cap of Terreno Realty was $7.0 billion at the close of 9 October 2026.

Does Terreno Realty pay a dividend?

Yes. Terreno Realty declared $2.08 a share in dividends over the four quarters to 30 June 2026.

Peers: Real Estate

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
CBRE Group, Inc. CBRE$37.9 billion30.0015.5%4.5%14.7%0.68n/a
Jones Lang Lasalle Inc. JLL$13.8 billion14.3813.4%4.7%11.2%0.220.0%
Terreno Realty Corp. TRNO$7.0 billion17.338.8%41.4%18.0%0.213.2%
Millrose Properties, Inc. MRP$3.7 billion7.798.1%85.1%n/a0.4211.4%
ST JOE Co. JOE$3.7 billion30.4516.1%30.2%28.4%0.480.9%
Marriott Vacations Worldwide Corp. VAC$3.6 billionn/a-16.2%-3.3%1.7%1.423.0%
Curbline Properties Corp. CURB$3.1 billion103.901.4%17.3%54.8%0.292.5%
Cushman & Wakefield Ltd. CWK$2.7 billion40.033.4%4.4%11.0%1.19n/a
Urban Edge Properties UE$2.4 billion35.854.9%n/a7.4%1.233.9%
Getty Realty Corp. GTY$1.7 billion16.988.9%63.8%10.9%0.956.8%
Ellington Financial Inc. EFC$1.5 billion7.099.9%37.2%44.8%2.0915.4%
Innovative Industrial Properties Inc. IIPR$1.4 billion11.737.4%51.4%-8.4%0.3314.7%
All 17 in Real Estate
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Brookfield Corporation BN *$82.8 billion75.690.8%n/a-12.7%0.090.9%
CBRE Group, Inc. CBRE$37.9 billion30.0015.5%4.5%14.7%0.68n/a
KE Holdings Inc. BEKE *$20.0 billion46.284.5%2.2%1.2%0.022.0%
Invitation Homes Inc. INVH$15.8 billion24.597.3%12.5%6.7%0.944.4%
Jones Lang Lasalle Inc. JLL$13.8 billion14.3813.4%4.7%11.2%0.220.0%
Terreno Realty Corp. TRNO$7.0 billion17.338.8%41.4%18.0%0.213.2%
Millrose Properties, Inc. MRP$3.7 billion7.798.1%85.1%n/a0.4211.4%
ST JOE Co. JOE$3.7 billion30.4516.1%30.2%28.4%0.480.9%
Marriott Vacations Worldwide Corp. VAC$3.6 billionn/a-16.2%-3.3%1.7%1.423.0%
Curbline Properties Corp. CURB$3.1 billion103.901.4%17.3%54.8%0.292.5%
Cushman & Wakefield Ltd. CWK$2.7 billion40.033.4%4.4%11.0%1.19n/a
Urban Edge Properties UE$2.4 billion35.854.9%n/a7.4%1.233.9%
Getty Realty Corp. GTY$1.7 billion16.988.9%63.8%10.9%0.956.8%
Ellington Financial Inc. EFC$1.5 billion7.099.9%37.2%44.8%2.0915.4%
Innovative Industrial Properties Inc. IIPR$1.4 billion11.737.4%51.4%-8.4%0.3314.7%
Marcus & Millichap, Inc. MMI$1.1 billion76.412.5%1.2%11.9%0.00n/a
Agnt, Inc. AGNT$622 millionn/a-6.1%-0.3%8.1%0.005.4%
8 companies share its SEC industry code (Real Estate); the rest are the names nearest in size in its wider industry, Real Estate, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20265 August 2026EDGAR
10-Q31 March 20266 May 2026EDGAR
10-K31 December 20254 February 2026EDGAR
10-Q30 September 20255 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 20257 May 2025EDGAR
10-K31 December 20245 February 2025EDGAR
10-Q30 September 20246 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR
10-Q31 March 20248 May 2024EDGAR

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