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Terreno Realty (TRNO) FY2021 results: revenue $222 million, up 18.8% on the year

Terreno Realty Corp. (TRNO) reported revenue of $222 million for fiscal 2021, the year ended 31 December 2021, up 18.8% on the year before. Net income was $87 million, up 9.3%, and diluted earnings per share $1.23. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2022.

Revenue
$222 million
+18.8% on the year
FY2014FY2021
Operating margin
39.6%
36.5% a year earlier
FY2014FY2021
Net income
$87 million
+9.3% on the year
FY2014FY2021
Diluted EPS
$1.23
+6.0% on the year
FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ millionFY2021FY2020FY2019On the yearLast 8 years
Revenue222187171+18.8%
Operating income87.968.258.8+28.9%
Operating margin39.6%36.5%34.4%
Interest expense18.116.016.3+12.9%
Net income87.379.855.5+9.3%
Net margin39.3%42.7%32.5%
Diluted EPS$1.23$1.16$0.85+6.0%
$ million except per share.
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.

Cash flow

$ millionFY2021FY2020FY2019On the yearLast 8 years
Operating cash flow13210194.7+30.8%
Capital expenditure51.331.632.1+62.3%
Free cash flow80.969.462.6+16.5%
Free cash flow margin36.5%37.2%36.6%
Cash from investing-666-52.1-251
Cash from financing631-53.9235
Depreciation and amortisation50.745.944.0+10.5%
Share-based compensation9.69.810.6-2.8%
Buybacks0.69.84.0-94.1%
Dividends paid84.674.863.6+13.2%
Dividend per share$1.26$1.12$1.02+12.5%
Diluted shares, weighted71m68m65m+3.8%
Shares outstanding at period end75m67m67m+11.6%

Balance sheet

$ millionFY2021FY2020FY2019On the yearLast 8 years
Shareholders' equity2,0581,5881,517+29.6%
Debt721459492+57.0%
Other liabilities14692.599.8+57.4%
Total liabilities and equity2,9242,1402,108+36.7%
Loansn/an/a15.9
Cash and equivalents204107110+90.7%
Other assets2,7202,0331,983+33.8%
Total assets2,9242,1402,108+36.7%

10-K for the year ended 31 December 2021, filed 9 February 2022: the filing.