Terreno Realty (TRNO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Terreno Realty

NYSE•Real Estate•REIT - Industrial

$65.61+0.32(<0.01%)Pre-market

Market Cap

$7.01B

P/E

18.0x

P/S

13.9x

P/B

1.6x

Terreno Realty Corporation an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets. The firm announced today that it has executed new renewal leases totaling 233,000 square feet at Countyline Corporate Park Phase III in Hialeah, Florida. Countyline Corporate Park Buildings 26 and 28 total 422,000 square feet and are currently 100% leased to six tenants with 83,000 square feet expiring April 2027. To facilitate the new leases, Terreno Realty Corporation has executed an early termination effective July 31, 2026, with the tenant that was to expire April 2027. A provider of turbine engine disassembly, repair, logistics and storage services will relocate from 106,000 square feet in Building 28 expiring April 2030 to 83,000 square feet in Building 26. The lease will commence August 1, 2026, and expire March 2035. Terreno Realty Corporation has executed an early renewal and expansion lease with a global wholesale packaging provider in Building 28. The early renewal for 43,000 square feet will commence October 1, 2027, and expire January 2035. The expansion lease for 106,000 square feet is expected to commence November 1, 2026, and will expire in January 2035. After commencement of the new leases Countyline Corporate Park Buildings 26 and 28 will be 100% leased to five tenants. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Area; Seattle; and Washington, D.C. Terreno Realty Corporation was incorporated on 6th November 2009 and is based in Bellevue, United States.

How this company scores

GoodMetricSide Score: 62/100

Strongest: Growth (22/25); weakest: Cash & Earnings Quality (2/25).

Profitability21/25

Growth22/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality2/25

Strengths

Growing revenueStrong marginsRising earningsLow leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 18.0x5y range 15.0x – 71.6x

Currently below its 20-quarter median.

P/S · 13.9x5y range 13.0x – 28.2x

Currently near its 20-quarter median.

P/B · 1.6x5y range 1.5x – 3.0x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Red Flag

The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Price & Volume

Market Cap $7.01B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $502.88M
Q. Revenue: $124.71M
TTM EBITDA: $333.43M
TTM Op. Income: $208.16M
Q. Op. Income: $52.09M
TTM Net Income: $388.59M
Q. Net Income: $57.57M
EPS: $0.54
Shares Out.: $106.55M

$502.88M in TTM revenue grew 18.0% YoY, reaching $124.71M last quarter. TTM EBITDA of $333.43M and TTM operating income of $208.16M show growth is flowing through to the bottom line. TTM net income of $388.59M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 65.1%
Op. Margin: 41.8%
Net Margin: 46.2%

Op. margin of 41.8% is up 2.8% YoY — cost efficiency is improving. Net margin at 46.2% Over the past year, operating margin is up 7% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 18.0x
P/S Ratio: 13.9x
P/B Ratio: 1.6x

At 18.0x P/E, the stock trades within typical market levels. P/S of 13.9x and P/B of 1.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 21% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.71B
Cash: $51.21M
Long-Term Debt: $942.47M
Book Value: $4.43B
D/E Ratio: 0.2
Debt/EBITDA: 11.6

With $5.71B in assets and $942.47M in long-term debt, D/E is 0.2and book value is $4.43B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $74.92M
TTM Free Cash Flow: $-627.89M
FCF Margin: -124.9%
FCF / Net Income: -1.6

TTM FCF of $-627.89M on $74.92M in operating cash flow. The FCF / Net Income ratio of -1.6x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.