Annual Income Statements for Terreno Realty
This table shows Terreno Realty's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Terreno Realty
This table shows Terreno Realty's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
22 |
59 |
23 |
40 |
30 |
57 |
36 |
36 |
36 |
76 |
48 |
Consolidated Net Income / (Loss) |
|
22 |
59 |
23 |
40 |
30 |
58 |
36 |
36 |
37 |
76 |
48 |
Net Income / (Loss) Continuing Operations |
|
22 |
59 |
23 |
40 |
30 |
58 |
36 |
36 |
37 |
76 |
48 |
Total Pre-Tax Income |
|
22 |
59 |
23 |
40 |
30 |
58 |
36 |
36 |
37 |
76 |
48 |
Total Revenue |
|
71 |
89 |
77 |
87 |
78 |
100 |
94 |
93 |
97 |
135 |
116 |
Net Interest Income / (Expense) |
|
0.18 |
-23 |
1.96 |
-4.93 |
-4.72 |
-12 |
2.89 |
-1.19 |
-2.55 |
-7.99 |
-6.70 |
Total Interest Income |
|
0.18 |
0.40 |
1.96 |
0.97 |
1.09 |
0.94 |
2.89 |
4.33 |
2.35 |
2.51 |
1.22 |
Investment Securities Interest Income |
|
0.18 |
0.40 |
1.96 |
0.97 |
1.09 |
0.94 |
2.89 |
4.33 |
2.35 |
2.51 |
1.22 |
Total Interest Expense |
|
0.00 |
24 |
0.00 |
5.90 |
5.81 |
13 |
0.00 |
5.52 |
4.90 |
11 |
7.93 |
Long-Term Debt Interest Expense |
|
- |
- |
- |
5.90 |
5.81 |
- |
- |
5.52 |
4.90 |
- |
7.93 |
Total Non-Interest Income |
|
71 |
112 |
75 |
92 |
83 |
112 |
91 |
94 |
100 |
143 |
122 |
Net Realized & Unrealized Capital Gains on Investments |
|
0.00 |
- |
0.00 |
12 |
0.00 |
26 |
5.72 |
0.00 |
0.00 |
40 |
12 |
Other Non-Interest Income |
|
71 |
76 |
75 |
80 |
83 |
86 |
85 |
94 |
100 |
104 |
110 |
Total Non-Interest Expense |
|
42 |
46 |
46 |
47 |
48 |
50 |
52 |
57 |
60 |
65 |
67 |
Net Occupancy & Equipment Expense |
|
17 |
19 |
18 |
19 |
20 |
22 |
21 |
24 |
26 |
28 |
29 |
Other Operating Expenses |
|
8.14 |
8.19 |
9.32 |
9.77 |
9.12 |
9.73 |
11 |
11 |
11 |
11 |
12 |
Depreciation Expense |
|
17 |
19 |
18 |
18 |
18 |
19 |
21 |
23 |
24 |
26 |
27 |
Restructuring Charge |
|
0.04 |
0.37 |
0.05 |
0.03 |
0.05 |
0.09 |
0.00 |
0.04 |
0.01 |
0.03 |
0.00 |
Net Income / (Loss) Attributable to Noncontrolling Interest |
|
0.11 |
0.28 |
0.11 |
0.18 |
0.15 |
0.28 |
0.15 |
0.16 |
0.16 |
0.33 |
0.21 |
Basic Earnings per Share |
|
$0.30 |
$0.77 |
$0.29 |
$0.48 |
$0.36 |
$0.68 |
$0.40 |
$0.37 |
$0.37 |
$0.78 |
$0.48 |
Weighted Average Basic Shares Outstanding |
|
75.50M |
75.50M |
79.90M |
83.12M |
84.04M |
83.17M |
88.87M |
96.29M |
97.56M |
95.52M |
100.77M |
Diluted Earnings per Share |
|
$0.30 |
$0.77 |
$0.29 |
$0.48 |
$0.36 |
$0.68 |
$0.40 |
$0.37 |
$0.37 |
$0.78 |
$0.47 |
Weighted Average Diluted Shares Outstanding |
|
75.59M |
75.59M |
80.34M |
83.12M |
84.27M |
83.37M |
89.44M |
96.41M |
97.87M |
95.84M |
101.05M |
Weighted Average Basic & Diluted Shares Outstanding |
|
76.07M |
76.98M |
83.26M |
83.91M |
85.39M |
88.00M |
96.70M |
96.90M |
99.74M |
99.78M |
103.32M |
Cash Dividends to Common per Share |
|
$0.40 |
- |
$0.40 |
$0.40 |
$0.45 |
- |
$0.45 |
$0.45 |
$0.49 |
- |
$0.49 |
Annual Cash Flow Statements for Terreno Realty
This table details how cash moves in and out of Terreno Realty's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-172 |
-6.63 |
24 |
-8.32 |
78 |
-4.90 |
97 |
-177 |
138 |
-148 |
Net Cash From Operating Activities |
|
42 |
49 |
69 |
78 |
95 |
101 |
132 |
143 |
180 |
233 |
Net Cash From Continuing Operating Activities |
|
42 |
49 |
69 |
78 |
95 |
101 |
132 |
143 |
180 |
233 |
Net Income / (Loss) Continuing Operations |
|
15 |
15 |
53 |
63 |
56 |
80 |
87 |
198 |
151 |
184 |
Consolidated Net Income / (Loss) |
|
15 |
15 |
53 |
63 |
56 |
80 |
87 |
198 |
151 |
184 |
Depreciation Expense |
|
36 |
34 |
38 |
41 |
44 |
46 |
51 |
66 |
73 |
94 |
Amortization Expense |
|
-1.53 |
-0.57 |
-0.97 |
-2.64 |
-3.65 |
-4.09 |
-6.35 |
-15 |
-12 |
-16 |
Non-Cash Adjustments to Reconcile Net Income |
|
-8.38 |
-2.20 |
-26 |
-23 |
-1.16 |
-17 |
-16 |
-111 |
-33 |
-40 |
Changes in Operating Assets and Liabilities, net |
|
1.35 |
2.49 |
5.08 |
-1.06 |
-0.04 |
-3.23 |
16 |
5.68 |
0.54 |
9.56 |
Net Cash From Investing Activities |
|
-260 |
-150 |
-249 |
-235 |
-251 |
-52 |
-666 |
-338 |
-570 |
-915 |
Net Cash From Continuing Investing Activities |
|
-260 |
-150 |
-249 |
-235 |
-251 |
-52 |
-666 |
-338 |
-570 |
-915 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-20 |
-43 |
-27 |
-39 |
-60 |
-41 |
-63 |
-92 |
-177 |
-173 |
Purchase of Investment Securities |
|
-263 |
-128 |
-297 |
-277 |
-239 |
-98 |
-645 |
-408 |
-467 |
-815 |
Sale and/or Maturity of Investments |
|
24 |
21 |
75 |
80 |
47 |
87 |
41 |
162 |
73 |
72 |
Net Cash From Financing Activities |
|
45 |
94 |
204 |
149 |
235 |
-54 |
631 |
18 |
529 |
535 |
Net Cash From Continuing Financing Activities |
|
45 |
94 |
204 |
149 |
235 |
-54 |
631 |
18 |
529 |
535 |
Issuance of Debt |
|
100 |
146 |
193 |
204 |
117 |
0.00 |
350 |
308 |
82 |
110 |
Issuance of Common Equity |
|
3.12 |
101 |
255 |
209 |
278 |
65 |
462 |
79 |
671 |
743 |
Repayment of Debt |
|
-25 |
-111 |
-146 |
-204 |
-88 |
-33 |
-86 |
-258 |
-82 |
-128 |
Repurchase of Common Equity |
|
-0.56 |
-3.06 |
-7.20 |
-6.90 |
-7.98 |
-11 |
-6.27 |
-2.21 |
-6.55 |
-9.05 |
Payment of Dividends |
|
-31 |
-37 |
-44 |
-51 |
-64 |
-75 |
-85 |
-107 |
-136 |
-175 |
Other Financing Activities, Net |
|
-1.47 |
-2.50 |
-0.87 |
-1.37 |
-0.94 |
0.00 |
-4.03 |
-1.50 |
-0.08 |
-5.81 |
Cash Interest Paid |
|
8.38 |
12 |
14 |
20 |
18 |
16 |
15 |
25 |
32 |
21 |
Quarterly Cash Flow Statements for Terreno Realty
This table details how cash moves in and out of Terreno Realty's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
0.66 |
17 |
-14 |
46 |
40 |
66 |
494 |
-478 |
61 |
-226 |
139 |
Net Cash From Operating Activities |
|
46 |
34 |
39 |
49 |
53 |
39 |
47 |
64 |
70 |
51 |
61 |
Net Cash From Continuing Operating Activities |
|
46 |
34 |
39 |
49 |
53 |
39 |
47 |
64 |
70 |
51 |
61 |
Net Income / (Loss) Continuing Operations |
|
22 |
59 |
23 |
40 |
30 |
58 |
36 |
36 |
37 |
76 |
48 |
Consolidated Net Income / (Loss) |
|
22 |
59 |
23 |
40 |
30 |
58 |
36 |
36 |
37 |
76 |
48 |
Depreciation Expense |
|
17 |
19 |
18 |
18 |
18 |
19 |
21 |
23 |
24 |
26 |
27 |
Amortization Expense |
|
-3.82 |
-5.08 |
-3.16 |
-3.26 |
-3.11 |
-2.85 |
-2.96 |
-4.07 |
-4.23 |
-4.26 |
-4.16 |
Non-Cash Adjustments to Reconcile Net Income |
|
-0.21 |
-35 |
0.87 |
-10 |
0.99 |
-25 |
-3.81 |
2.04 |
0.66 |
-39 |
-12 |
Changes in Operating Assets and Liabilities, net |
|
10 |
-2.65 |
-0.40 |
3.83 |
6.83 |
-9.72 |
-3.19 |
7.66 |
13 |
-7.78 |
2.04 |
Net Cash From Investing Activities |
|
-95 |
-24 |
-387 |
-19 |
-73 |
-91 |
-49 |
-499 |
-58 |
-310 |
-24 |
Net Cash From Continuing Investing Activities |
|
-95 |
-24 |
-387 |
-19 |
-73 |
-91 |
-49 |
-499 |
-58 |
-310 |
-24 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-27 |
-16 |
-23 |
-30 |
-59 |
-65 |
-40 |
-48 |
-50 |
-34 |
-48 |
Purchase of Investment Securities |
|
-68 |
-63 |
-365 |
-13 |
-14 |
-74 |
-19 |
-450 |
-7.90 |
-338 |
0.00 |
Sale and/or Maturity of Investments |
|
- |
55 |
0.00 |
25 |
- |
48 |
10 |
- |
- |
62 |
24 |
Net Cash From Financing Activities |
|
50 |
6.75 |
334 |
17 |
60 |
118 |
496 |
-44 |
50 |
33 |
101 |
Net Cash From Continuing Financing Activities |
|
50 |
6.75 |
334 |
17 |
60 |
118 |
496 |
-44 |
50 |
33 |
101 |
Issuance of Debt |
|
250 |
46 |
29 |
20 |
- |
33 |
0.00 |
- |
- |
110 |
50 |
Issuance of Common Equity |
|
29 |
48 |
366 |
51 |
96 |
158 |
538 |
-0.00 |
204 |
- |
237 |
Repayment of Debt |
|
-202 |
-56 |
-29 |
-20 |
- |
-33 |
0.00 |
- |
-100 |
-28 |
-132 |
Repurchase of Common Equity |
|
-0.94 |
-0.73 |
-1.61 |
-0.48 |
-2.16 |
-2.31 |
-3.46 |
-0.27 |
-5.32 |
- |
-5.39 |
Payment of Dividends |
|
-26 |
-30 |
-31 |
-33 |
-34 |
-38 |
-39 |
-44 |
-44 |
-49 |
-49 |
Cash Interest Paid |
|
9.05 |
5.65 |
8.38 |
7.11 |
8.67 |
7.56 |
9.75 |
5.16 |
9.82 |
-3.84 |
6.71 |
Annual Balance Sheets for Terreno Realty
This table presents Terreno Realty's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
1,152 |
1,279 |
1,568 |
1,797 |
2,108 |
2,140 |
2,924 |
3,164 |
3,905 |
4,770 |
Cash and Due from Banks |
|
22 |
14 |
36 |
31 |
110 |
107 |
204 |
26 |
165 |
18 |
Restricted Cash |
|
2.66 |
4.27 |
7.09 |
3.48 |
2.66 |
0.66 |
0.40 |
1.69 |
0.84 |
0.28 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
54 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
1,022 |
1,171 |
1,421 |
1,502 |
1,756 |
1,843 |
2,488 |
2,900 |
3,173 |
4,233 |
Intangible Assets |
|
55 |
63 |
76 |
79 |
89 |
89 |
114 |
124 |
147 |
208 |
Other Assets |
|
50 |
27 |
28 |
126 |
151 |
100 |
117 |
113 |
419 |
310 |
Total Liabilities & Shareholders' Equity |
|
1,152 |
1,279 |
1,568 |
1,797 |
2,108 |
2,140 |
2,924 |
3,164 |
3,905 |
4,770 |
Total Liabilities |
|
419 |
467 |
540 |
549 |
591 |
552 |
866 |
935 |
990 |
1,108 |
Non-Interest Bearing Deposits |
|
7.51 |
9.92 |
11 |
12 |
14 |
14 |
24 |
27 |
33 |
40 |
Short-Term Debt |
|
0.00 |
52 |
0.00 |
19 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
82 |
Other Short-Term Payables |
|
7.80 |
9.48 |
12 |
15 |
18 |
20 |
26 |
31 |
39 |
49 |
Long-Term Debt |
|
381 |
364 |
462 |
443 |
492 |
459 |
721 |
771 |
772 |
741 |
Other Long-Term Liabilities |
|
22 |
32 |
55 |
60 |
67 |
59 |
96 |
106 |
147 |
196 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
733 |
812 |
1,027 |
1,248 |
1,517 |
1,588 |
2,058 |
2,230 |
2,915 |
3,662 |
Total Preferred & Common Equity |
|
733 |
812 |
1,027 |
1,248 |
1,517 |
1,588 |
2,058 |
2,230 |
2,915 |
3,662 |
Total Common Equity |
|
687 |
766 |
1,027 |
1,248 |
1,517 |
1,588 |
2,058 |
2,230 |
2,915 |
3,662 |
Common Stock |
|
688 |
767 |
1,024 |
1,234 |
1,515 |
1,582 |
2,055 |
2,142 |
2,819 |
3,567 |
Retained Earnings |
|
0.00 |
0.00 |
4.80 |
14 |
2.62 |
5.93 |
2.80 |
88 |
96 |
95 |
Quarterly Balance Sheets for Terreno Realty
This table presents Terreno Realty's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
3,109 |
3,578 |
3,637 |
3,739 |
4,439 |
4,467 |
4,571 |
4,907 |
Cash and Due from Banks |
|
10 |
11 |
59 |
96 |
650 |
182 |
244 |
157 |
Restricted Cash |
|
0.84 |
2.61 |
1.10 |
4.03 |
11 |
0.46 |
0.26 |
0.62 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
2,870 |
3,097 |
3,094 |
3,089 |
3,152 |
3,731 |
3,773 |
4,245 |
Intangible Assets |
|
126 |
140 |
141 |
139 |
147 |
178 |
177 |
211 |
Other Assets |
|
102 |
328 |
343 |
411 |
479 |
375 |
377 |
293 |
Total Liabilities & Shareholders' Equity |
|
3,109 |
3,578 |
3,637 |
3,739 |
4,439 |
4,467 |
4,571 |
4,907 |
Total Liabilities |
|
957 |
978 |
989 |
1,002 |
994 |
1,026 |
940 |
1,011 |
Non-Interest Bearing Deposits |
|
27 |
30 |
32 |
33 |
34 |
37 |
37 |
41 |
Short-Term Debt |
|
10 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Other Short-Term Payables |
|
30 |
33 |
34 |
38 |
44 |
44 |
49 |
51 |
Long-Term Debt |
|
771 |
771 |
771 |
771 |
772 |
772 |
672 |
742 |
Other Long-Term Liabilities |
|
118 |
145 |
152 |
160 |
145 |
174 |
181 |
178 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
- |
- |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
2,152 |
2,600 |
2,648 |
2,737 |
3,445 |
3,441 |
3,631 |
3,896 |
Total Preferred & Common Equity |
|
2,152 |
2,600 |
2,648 |
2,737 |
3,445 |
3,441 |
3,631 |
3,896 |
Total Common Equity |
|
2,152 |
2,600 |
2,648 |
2,737 |
3,445 |
3,441 |
3,631 |
3,896 |
Common Stock |
|
2,092 |
2,521 |
2,563 |
2,660 |
3,356 |
3,360 |
3,563 |
3,803 |
Retained Earnings |
|
60 |
78 |
85 |
77 |
88 |
80 |
68 |
93 |
Annual Metrics And Ratios for Terreno Realty
This table displays calculated financial ratios and metrics derived from Terreno Realty's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
39.25% |
12.79% |
22.62% |
17.09% |
18.61% |
16.44% |
11.20% |
53.14% |
-6.41% |
22.59% |
EBITDA Growth |
|
35.08% |
13.84% |
38.82% |
19.63% |
23.44% |
22.40% |
8.17% |
67.23% |
-14.70% |
23.83% |
EBIT Growth |
|
-21.01% |
53.64% |
86.69% |
34.86% |
36.21% |
32.97% |
9.08% |
89.51% |
-23.51% |
21.81% |
NOPAT Growth |
|
-21.01% |
53.64% |
86.69% |
34.86% |
36.21% |
32.97% |
9.08% |
89.51% |
-23.51% |
21.81% |
Net Income Growth |
|
36.23% |
3.54% |
251.20% |
19.20% |
-12.28% |
43.73% |
9.35% |
126.94% |
-23.51% |
21.81% |
EPS Growth |
|
13.04% |
0.00% |
265.38% |
14.74% |
-22.02% |
36.47% |
6.03% |
112.20% |
-30.65% |
6.08% |
Operating Cash Flow Growth |
|
43.47% |
17.05% |
41.14% |
11.66% |
22.02% |
6.72% |
30.83% |
8.32% |
25.46% |
29.50% |
Free Cash Flow Firm Growth |
|
87.28% |
-78.22% |
-143.35% |
24.68% |
-35.12% |
125.22% |
-1,196.11% |
96.17% |
-2,123.23% |
-15.17% |
Invested Capital Growth |
|
6.20% |
10.10% |
21.35% |
14.82% |
17.48% |
1.92% |
35.72% |
7.99% |
22.85% |
21.69% |
Revenue Q/Q Growth |
|
6.04% |
5.23% |
10.24% |
-0.74% |
7.29% |
-1.97% |
11.44% |
4.35% |
-3.47% |
2.53% |
EBITDA Q/Q Growth |
|
3.81% |
5.87% |
20.60% |
-4.23% |
10.76% |
-4.39% |
15.69% |
3.26% |
-6.14% |
0.69% |
EBIT Q/Q Growth |
|
-27.68% |
38.15% |
46.23% |
-6.65% |
15.56% |
-5.74% |
22.13% |
3.04% |
-9.64% |
-2.18% |
NOPAT Q/Q Growth |
|
-27.68% |
38.15% |
46.23% |
-6.65% |
15.56% |
-5.74% |
22.13% |
3.04% |
-0.87% |
11.18% |
Net Income Q/Q Growth |
|
-13.17% |
9.19% |
20.42% |
23.73% |
-12.80% |
-1.61% |
27.36% |
15.53% |
-0.87% |
11.18% |
EPS Q/Q Growth |
|
-18.75% |
13.04% |
23.38% |
21.11% |
-16.67% |
-2.52% |
25.51% |
14.47% |
-4.74% |
5.49% |
Operating Cash Flow Q/Q Growth |
|
10.75% |
3.70% |
5.72% |
6.51% |
6.29% |
-2.43% |
8.26% |
0.30% |
2.78% |
5.57% |
Free Cash Flow Firm Q/Q Growth |
|
84.36% |
-25.28% |
13.09% |
-26.31% |
4.06% |
790.78% |
-187.59% |
93.89% |
-26.30% |
2.24% |
Invested Capital Q/Q Growth |
|
2.38% |
4.26% |
1.99% |
3.65% |
3.10% |
0.18% |
18.39% |
2.32% |
5.07% |
4.24% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
50.22% |
50.69% |
57.38% |
58.63% |
61.02% |
64.13% |
62.38% |
68.12% |
62.09% |
62.72% |
EBIT Margin |
|
14.26% |
19.42% |
29.56% |
34.05% |
39.11% |
44.65% |
43.80% |
54.20% |
44.30% |
44.02% |
Profit (Net Income) Margin |
|
15.22% |
13.98% |
40.03% |
40.75% |
30.13% |
37.20% |
36.58% |
54.20% |
44.30% |
44.02% |
Tax Burden Percent |
|
100.00% |
100.00% |
100.00% |
182.50% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Interest Burden Percent |
|
106.79% |
71.97% |
135.38% |
65.57% |
77.06% |
83.30% |
83.51% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
1.26% |
1.79% |
2.89% |
3.31% |
3.87% |
4.72% |
4.33% |
6.85% |
4.53% |
4.52% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
1.54% |
0.32% |
6.05% |
5.56% |
0.41% |
1.36% |
1.41% |
6.85% |
4.53% |
4.52% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.71% |
0.16% |
2.89% |
2.26% |
0.14% |
0.42% |
0.46% |
2.38% |
1.36% |
1.10% |
Return on Equity (ROE) |
|
1.97% |
1.96% |
5.77% |
5.56% |
4.02% |
5.14% |
4.79% |
9.24% |
5.89% |
5.61% |
Cash Return on Invested Capital (CROIC) |
|
-4.75% |
-7.82% |
-16.41% |
-10.49% |
-12.20% |
2.82% |
-25.98% |
-0.83% |
-15.97% |
-15.05% |
Operating Return on Assets (OROA) |
|
1.23% |
1.73% |
2.76% |
3.14% |
3.69% |
4.51% |
4.13% |
6.50% |
4.29% |
4.25% |
Return on Assets (ROA) |
|
1.31% |
1.24% |
3.73% |
3.76% |
2.84% |
3.76% |
3.45% |
6.50% |
4.29% |
4.25% |
Return on Common Equity (ROCE) |
|
1.85% |
1.84% |
5.63% |
5.56% |
4.02% |
5.14% |
4.79% |
9.24% |
5.89% |
5.61% |
Return on Equity Simple (ROE_SIMPLE) |
|
1.99% |
1.86% |
5.17% |
5.07% |
3.66% |
5.02% |
4.24% |
8.88% |
5.20% |
5.04% |
Net Operating Profit after Tax (NOPAT) |
|
14 |
21 |
39 |
53 |
72 |
96 |
104 |
198 |
151 |
184 |
NOPAT Margin |
|
14.26% |
19.42% |
29.56% |
34.05% |
39.11% |
44.65% |
43.80% |
54.20% |
44.30% |
44.02% |
Net Nonoperating Expense Percent (NNEP) |
|
-0.27% |
1.48% |
-3.16% |
-2.25% |
3.47% |
3.37% |
2.92% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
27.79% |
28.03% |
27.04% |
25.75% |
23.99% |
22.89% |
23.58% |
18.86% |
23.13% |
23.40% |
Operating Expenses to Revenue |
|
85.74% |
80.58% |
70.44% |
65.95% |
60.89% |
55.35% |
56.20% |
45.80% |
55.70% |
55.98% |
Earnings before Interest and Taxes (EBIT) |
|
14 |
21 |
39 |
53 |
72 |
96 |
104 |
198 |
151 |
184 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
48 |
55 |
76 |
91 |
112 |
138 |
149 |
249 |
212 |
263 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.16 |
1.44 |
1.59 |
1.46 |
2.14 |
2.31 |
2.76 |
1.83 |
1.78 |
1.61 |
Price to Tangible Book Value (P/TBV) |
|
1.26 |
1.57 |
1.72 |
1.56 |
2.28 |
2.44 |
2.92 |
1.94 |
1.88 |
1.71 |
Price to Revenue (P/Rev) |
|
8.28 |
10.20 |
12.35 |
11.76 |
17.66 |
17.09 |
23.81 |
11.17 |
15.19 |
14.07 |
Price to Earnings (P/E) |
|
72.47 |
96.34 |
33.41 |
29.04 |
58.98 |
46.17 |
65.32 |
20.70 |
34.45 |
32.11 |
Dividend Yield |
|
3.60% |
3.20% |
2.80% |
3.69% |
2.10% |
2.59% |
1.58% |
2.76% |
3.45% |
3.18% |
Earnings Yield |
|
1.38% |
1.04% |
2.99% |
3.44% |
1.70% |
2.17% |
1.53% |
4.83% |
2.90% |
3.11% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.07 |
1.26 |
1.38 |
1.32 |
1.81 |
1.96 |
2.23 |
1.61 |
1.57 |
1.49 |
Enterprise Value to Revenue (EV/Rev) |
|
12.47 |
14.30 |
15.50 |
14.51 |
19.72 |
18.72 |
25.97 |
13.20 |
16.96 |
15.99 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
24.84 |
28.21 |
27.02 |
24.75 |
32.31 |
29.19 |
41.63 |
19.38 |
27.32 |
25.50 |
Enterprise Value to EBIT (EV/EBIT) |
|
87.51 |
73.63 |
52.44 |
42.62 |
50.42 |
41.93 |
59.29 |
24.36 |
38.29 |
36.33 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
87.51 |
73.63 |
52.44 |
42.62 |
50.42 |
41.93 |
59.29 |
24.36 |
38.29 |
36.33 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
28.44 |
31.41 |
29.59 |
29.05 |
38.36 |
39.75 |
46.86 |
33.68 |
32.27 |
28.81 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
70.24 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.52 |
0.51 |
0.45 |
0.37 |
0.32 |
0.29 |
0.35 |
0.35 |
0.26 |
0.22 |
Long-Term Debt to Equity |
|
0.52 |
0.45 |
0.45 |
0.36 |
0.32 |
0.29 |
0.35 |
0.35 |
0.26 |
0.20 |
Financial Leverage |
|
0.46 |
0.52 |
0.48 |
0.41 |
0.34 |
0.31 |
0.32 |
0.35 |
0.30 |
0.24 |
Leverage Ratio |
|
1.50 |
1.57 |
1.55 |
1.48 |
1.41 |
1.37 |
1.39 |
1.42 |
1.37 |
1.32 |
Compound Leverage Factor |
|
1.61 |
1.13 |
2.10 |
0.97 |
1.09 |
1.14 |
1.16 |
1.42 |
1.37 |
1.32 |
Debt to Total Capital |
|
34.23% |
33.85% |
31.00% |
27.02% |
24.47% |
22.43% |
25.94% |
25.69% |
20.93% |
18.36% |
Short-Term Debt to Total Capital |
|
0.00% |
4.20% |
0.00% |
1.11% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
1.83% |
Long-Term Debt to Total Capital |
|
34.23% |
29.65% |
31.00% |
25.91% |
24.47% |
22.43% |
25.94% |
25.69% |
20.93% |
16.53% |
Preferred Equity to Total Capital |
|
4.13% |
3.75% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
61.65% |
62.41% |
69.00% |
72.98% |
75.53% |
77.57% |
74.06% |
74.31% |
79.07% |
81.64% |
Debt to EBITDA |
|
7.92 |
7.57 |
6.07 |
5.07 |
4.37 |
3.34 |
4.84 |
3.10 |
3.63 |
3.13 |
Net Debt to EBITDA |
|
7.40 |
7.24 |
5.50 |
4.70 |
3.37 |
2.55 |
3.47 |
2.98 |
2.85 |
3.06 |
Long-Term Debt to EBITDA |
|
7.92 |
6.64 |
6.07 |
4.87 |
4.37 |
3.34 |
4.84 |
3.10 |
3.63 |
2.82 |
Debt to NOPAT |
|
27.90 |
19.77 |
11.77 |
8.74 |
6.82 |
4.79 |
6.90 |
3.89 |
5.09 |
4.46 |
Net Debt to NOPAT |
|
26.06 |
18.89 |
10.68 |
8.09 |
5.26 |
3.67 |
4.94 |
3.75 |
4.00 |
4.36 |
Long-Term Debt to NOPAT |
|
27.90 |
17.32 |
11.77 |
8.38 |
6.82 |
4.79 |
6.90 |
3.89 |
5.09 |
4.02 |
Noncontrolling Interest Sharing Ratio |
|
6.22% |
5.96% |
2.50% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-51 |
-92 |
-223 |
-168 |
-227 |
57 |
-627 |
-24 |
-534 |
-615 |
Operating Cash Flow to CapEx |
|
206.66% |
115.83% |
253.60% |
200.80% |
157.93% |
248.89% |
211.32% |
155.24% |
101.73% |
134.61% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-1.01 |
-21.54 |
-29.40 |
Operating Cash Flow to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
6.00 |
7.25 |
11.12 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
2.14 |
0.12 |
2.86 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.09 |
0.09 |
0.09 |
0.09 |
0.09 |
0.10 |
0.09 |
0.12 |
0.10 |
0.10 |
Fixed Asset Turnover |
|
0.10 |
0.10 |
0.10 |
0.11 |
0.11 |
0.12 |
0.11 |
0.14 |
0.11 |
0.11 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,115 |
1,227 |
1,489 |
1,710 |
2,009 |
2,047 |
2,779 |
3,001 |
3,686 |
4,486 |
Invested Capital Turnover |
|
0.09 |
0.09 |
0.10 |
0.10 |
0.10 |
0.11 |
0.10 |
0.13 |
0.10 |
0.10 |
Increase / (Decrease) in Invested Capital |
|
65 |
113 |
262 |
221 |
299 |
39 |
731 |
222 |
686 |
800 |
Enterprise Value (EV) |
|
1,196 |
1,547 |
2,057 |
2,254 |
3,632 |
4,017 |
6,195 |
4,823 |
5,799 |
6,703 |
Market Capitalization |
|
794 |
1,104 |
1,638 |
1,826 |
3,253 |
3,665 |
5,679 |
4,080 |
5,194 |
5,898 |
Book Value per Share |
|
$15.86 |
$16.50 |
$18.84 |
$21.10 |
$22.64 |
$23.23 |
$28.86 |
$29.31 |
$34.13 |
$36.72 |
Tangible Book Value per Share |
|
$14.59 |
$15.15 |
$17.44 |
$19.76 |
$21.32 |
$21.93 |
$27.26 |
$27.69 |
$32.41 |
$34.63 |
Total Capital |
|
1,115 |
1,227 |
1,489 |
1,710 |
2,009 |
2,047 |
2,779 |
3,001 |
3,686 |
4,486 |
Total Debt |
|
381 |
415 |
462 |
462 |
492 |
459 |
721 |
771 |
772 |
823 |
Total Long-Term Debt |
|
381 |
364 |
462 |
443 |
492 |
459 |
721 |
771 |
772 |
741 |
Net Debt |
|
356 |
397 |
419 |
428 |
379 |
351 |
516 |
743 |
605 |
805 |
Capital Expenditures (CapEx) |
|
20 |
43 |
27 |
39 |
60 |
41 |
63 |
92 |
177 |
173 |
Net Nonoperating Expense (NNE) |
|
-0.93 |
5.89 |
-14 |
-10 |
17 |
16 |
17 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
381 |
415 |
462 |
462 |
492 |
459 |
721 |
771 |
772 |
823 |
Total Depreciation and Amortization (D&A) |
|
34 |
34 |
37 |
38 |
40 |
42 |
44 |
51 |
61 |
78 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.26 |
$0.26 |
$0.95 |
$1.09 |
$0.86 |
$1.17 |
$1.23 |
$2.61 |
$1.81 |
$1.92 |
Adjusted Weighted Average Basic Shares Outstanding |
|
43.39M |
47.52M |
55.47M |
61.12M |
64.43M |
67.76M |
70.53M |
75.50M |
83.17M |
95.52M |
Adjusted Diluted Earnings per Share |
|
$0.26 |
$0.26 |
$0.95 |
$1.09 |
$0.85 |
$1.16 |
$1.23 |
$2.61 |
$1.81 |
$1.92 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
43.39M |
47.52M |
55.47M |
61.12M |
64.72M |
68.17M |
70.79M |
75.59M |
83.37M |
95.84M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.26 |
$0.26 |
$0.95 |
$1.09 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
42.86M |
44.73M |
51.36M |
57.49M |
67.39M |
68.65M |
75.49M |
76.98M |
88.00M |
99.78M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
13 |
17 |
27 |
37 |
50 |
67 |
73 |
140 |
106 |
129 |
Normalized NOPAT Margin |
|
13.42% |
15.62% |
20.70% |
23.89% |
27.39% |
31.35% |
30.71% |
38.22% |
31.05% |
30.82% |
Pre Tax Income Margin |
|
15.22% |
13.98% |
40.03% |
22.33% |
30.13% |
37.20% |
36.58% |
54.20% |
44.30% |
44.02% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
8.30 |
6.11 |
8.82 |
NOPAT to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
8.30 |
6.11 |
8.82 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
4.43 |
-1.02 |
0.56 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
4.43 |
-1.02 |
0.56 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
213.07% |
243.07% |
82.62% |
81.29% |
114.50% |
93.71% |
96.99% |
54.24% |
89.70% |
94.84% |
Augmented Payout Ratio |
|
216.89% |
263.29% |
96.18% |
92.19% |
128.88% |
107.22% |
104.17% |
55.36% |
94.02% |
99.74% |
Quarterly Metrics And Ratios for Terreno Realty
This table displays calculated financial ratios and metrics derived from Terreno Realty's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
16.96% |
20.76% |
19.42% |
-38.63% |
10.18% |
13.04% |
22.22% |
7.13% |
24.15% |
35.06% |
30.72% |
EBITDA Growth |
|
10.33% |
16.35% |
23.80% |
-51.63% |
8.63% |
17.82% |
29.68% |
-1.07% |
24.23% |
40.36% |
31.20% |
EBIT Growth |
|
10.21% |
15.95% |
24.10% |
-60.57% |
5.61% |
18.11% |
34.50% |
-11.32% |
20.86% |
41.21% |
33.46% |
NOPAT Growth |
|
10.21% |
60.68% |
24.10% |
-60.57% |
5.61% |
-2.25% |
34.50% |
-11.32% |
20.86% |
32.22% |
33.46% |
Net Income Growth |
|
5.05% |
82.52% |
18.66% |
-58.52% |
35.10% |
-2.25% |
54.55% |
-11.32% |
20.86% |
32.22% |
33.46% |
EPS Growth |
|
0.00% |
75.00% |
11.54% |
-62.50% |
20.00% |
-11.69% |
37.93% |
-22.92% |
2.78% |
14.71% |
17.50% |
Operating Cash Flow Growth |
|
16.77% |
1.26% |
38.41% |
37.98% |
16.32% |
14.21% |
21.23% |
32.47% |
31.41% |
31.43% |
30.60% |
Free Cash Flow Firm Growth |
|
-100.71% |
76.51% |
15.51% |
15.41% |
2.08% |
-284.89% |
-42.35% |
-46.67% |
-39.10% |
-15.21% |
53.93% |
Invested Capital Growth |
|
24.95% |
7.99% |
21.46% |
19.45% |
19.63% |
22.85% |
25.08% |
23.20% |
22.66% |
21.69% |
9.99% |
Revenue Q/Q Growth |
|
-49.85% |
24.93% |
-31.91% |
13.38% |
-9.98% |
28.18% |
-21.46% |
-0.62% |
4.32% |
39.45% |
-14.64% |
EBITDA Q/Q Growth |
|
-63.35% |
33.70% |
-42.72% |
20.83% |
-17.70% |
45.01% |
-30.18% |
-7.82% |
3.35% |
63.84% |
-23.37% |
EBIT Q/Q Growth |
|
-71.88% |
48.02% |
-53.71% |
31.09% |
-24.69% |
65.54% |
-40.29% |
-13.57% |
2.64% |
93.41% |
-32.09% |
NOPAT Q/Q Growth |
|
-71.88% |
105.13% |
-53.71% |
31.09% |
-24.69% |
89.86% |
-28.25% |
-13.57% |
2.64% |
107.71% |
-36.76% |
Net Income Q/Q Growth |
|
-76.87% |
162.40% |
-60.38% |
72.53% |
-24.69% |
89.86% |
-37.35% |
-1.01% |
2.64% |
107.71% |
-36.76% |
EPS Q/Q Growth |
|
-76.56% |
156.67% |
-62.34% |
65.52% |
-25.00% |
88.89% |
-41.18% |
-7.50% |
0.00% |
110.81% |
-39.74% |
Operating Cash Flow Q/Q Growth |
|
30.11% |
-25.33% |
13.48% |
25.16% |
9.68% |
-26.68% |
20.46% |
36.76% |
8.80% |
-26.67% |
19.69% |
Free Cash Flow Firm Q/Q Growth |
|
8.79% |
70.70% |
-262.86% |
8.58% |
-5.57% |
-15.16% |
-28.07% |
5.81% |
-0.12% |
4.62% |
48.45% |
Invested Capital Q/Q Growth |
|
2.45% |
2.32% |
12.34% |
1.44% |
2.60% |
5.07% |
14.38% |
-0.09% |
2.16% |
4.24% |
3.38% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
58.95% |
63.09% |
59.66% |
63.58% |
58.12% |
65.76% |
63.30% |
58.71% |
58.16% |
68.34% |
61.35% |
EBIT Margin |
|
40.44% |
47.91% |
40.08% |
46.34% |
38.77% |
50.06% |
44.11% |
38.36% |
37.74% |
52.34% |
41.65% |
Profit (Net Income) Margin |
|
31.61% |
66.40% |
30.45% |
46.34% |
38.77% |
57.42% |
38.51% |
38.36% |
37.74% |
56.21% |
41.65% |
Tax Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Interest Burden Percent |
|
78.17% |
138.58% |
75.98% |
100.00% |
100.00% |
114.70% |
87.31% |
100.00% |
100.00% |
107.39% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
5.36% |
8.40% |
5.24% |
5.12% |
4.26% |
5.87% |
4.46% |
3.92% |
3.95% |
5.77% |
4.20% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
4.45% |
8.40% |
4.25% |
5.12% |
4.26% |
5.87% |
3.78% |
3.92% |
3.95% |
5.77% |
4.20% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.57% |
2.92% |
1.36% |
1.61% |
1.35% |
1.76% |
0.97% |
0.99% |
0.90% |
1.40% |
0.87% |
Return on Equity (ROE) |
|
6.93% |
11.32% |
6.60% |
6.73% |
5.62% |
7.63% |
5.43% |
4.91% |
4.85% |
7.17% |
5.06% |
Cash Return on Invested Capital (CROIC) |
|
-14.90% |
-0.83% |
-11.97% |
-13.11% |
-13.13% |
-15.97% |
-17.36% |
-16.60% |
-16.11% |
-15.05% |
-5.07% |
Operating Return on Assets (OROA) |
|
5.07% |
5.75% |
4.95% |
4.82% |
4.01% |
4.84% |
4.22% |
3.69% |
3.71% |
5.06% |
3.98% |
Return on Assets (ROA) |
|
3.97% |
7.97% |
3.76% |
4.82% |
4.01% |
5.55% |
3.69% |
3.69% |
3.71% |
5.43% |
3.98% |
Return on Common Equity (ROCE) |
|
6.93% |
11.32% |
6.60% |
6.73% |
5.62% |
7.63% |
5.43% |
4.91% |
4.85% |
7.17% |
5.06% |
Return on Equity Simple (ROE_SIMPLE) |
|
7.96% |
0.00% |
7.76% |
5.47% |
5.58% |
0.00% |
4.77% |
4.64% |
4.57% |
0.00% |
5.05% |
Net Operating Profit after Tax (NOPAT) |
|
29 |
59 |
31 |
40 |
30 |
58 |
41 |
36 |
37 |
76 |
48 |
NOPAT Margin |
|
40.44% |
66.40% |
40.08% |
46.34% |
38.77% |
57.42% |
44.11% |
38.36% |
37.74% |
56.21% |
41.65% |
Net Nonoperating Expense Percent (NNEP) |
|
0.91% |
0.00% |
0.99% |
0.00% |
0.00% |
0.00% |
0.68% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
24.15% |
21.52% |
23.99% |
21.40% |
26.18% |
21.60% |
22.31% |
25.55% |
26.37% |
20.56% |
24.89% |
Operating Expenses to Revenue |
|
59.56% |
52.09% |
59.92% |
53.66% |
61.23% |
49.94% |
55.90% |
61.64% |
62.26% |
47.66% |
58.35% |
Earnings before Interest and Taxes (EBIT) |
|
29 |
42 |
31 |
40 |
30 |
50 |
41 |
36 |
37 |
71 |
48 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
42 |
56 |
46 |
55 |
45 |
66 |
59 |
55 |
56 |
93 |
71 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.77 |
1.83 |
1.84 |
1.83 |
1.69 |
1.78 |
1.63 |
1.66 |
1.78 |
1.61 |
1.62 |
Price to Tangible Book Value (P/TBV) |
|
1.88 |
1.94 |
1.95 |
1.94 |
1.78 |
1.88 |
1.71 |
1.75 |
1.87 |
1.71 |
1.71 |
Price to Revenue (P/Rev) |
|
10.87 |
11.17 |
11.93 |
13.99 |
13.07 |
15.19 |
14.66 |
14.68 |
15.84 |
14.07 |
14.13 |
Price to Earnings (P/E) |
|
22.30 |
20.70 |
23.87 |
33.67 |
30.43 |
34.45 |
34.43 |
36.02 |
39.20 |
32.11 |
32.23 |
Dividend Yield |
|
2.82% |
2.76% |
2.47% |
2.74% |
2.99% |
3.45% |
2.66% |
3.04% |
2.75% |
3.18% |
3.04% |
Earnings Yield |
|
4.48% |
4.83% |
4.19% |
2.97% |
3.29% |
2.90% |
2.90% |
2.78% |
2.55% |
3.11% |
3.10% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.56 |
1.61 |
1.65 |
1.63 |
1.51 |
1.57 |
1.36 |
1.50 |
1.60 |
1.49 |
1.49 |
Enterprise Value to Revenue (EV/Rev) |
|
13.07 |
13.20 |
13.82 |
16.04 |
14.96 |
16.96 |
14.95 |
16.19 |
16.89 |
15.99 |
15.44 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
18.99 |
19.38 |
19.71 |
25.01 |
23.43 |
27.32 |
22.89 |
25.24 |
26.44 |
25.50 |
24.64 |
Enterprise Value to EBIT (EV/EBIT) |
|
23.81 |
24.36 |
24.36 |
33.54 |
31.61 |
38.29 |
30.71 |
34.63 |
36.60 |
36.33 |
35.07 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
23.81 |
24.36 |
24.36 |
38.42 |
34.68 |
38.29 |
30.71 |
39.55 |
41.60 |
36.33 |
35.07 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
32.05 |
33.68 |
36.04 |
33.27 |
30.31 |
32.27 |
30.53 |
30.99 |
31.32 |
28.81 |
27.90 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.36 |
0.35 |
0.30 |
0.29 |
0.28 |
0.26 |
0.22 |
0.22 |
0.19 |
0.22 |
0.19 |
Long-Term Debt to Equity |
|
0.36 |
0.35 |
0.30 |
0.29 |
0.28 |
0.26 |
0.22 |
0.22 |
0.19 |
0.20 |
0.19 |
Financial Leverage |
|
0.35 |
0.35 |
0.32 |
0.31 |
0.32 |
0.30 |
0.26 |
0.25 |
0.23 |
0.24 |
0.21 |
Leverage Ratio |
|
1.43 |
1.42 |
1.40 |
1.40 |
1.40 |
1.37 |
1.33 |
1.33 |
1.31 |
1.32 |
1.27 |
Compound Leverage Factor |
|
1.12 |
1.97 |
1.06 |
1.40 |
1.40 |
1.58 |
1.16 |
1.33 |
1.31 |
1.42 |
1.27 |
Debt to Total Capital |
|
26.62% |
25.69% |
22.87% |
22.55% |
21.99% |
20.93% |
18.30% |
18.33% |
15.62% |
18.36% |
16.00% |
Short-Term Debt to Total Capital |
|
0.34% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
1.83% |
0.00% |
Long-Term Debt to Total Capital |
|
26.28% |
25.69% |
22.87% |
22.55% |
21.99% |
20.93% |
18.30% |
18.33% |
15.62% |
16.53% |
16.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
73.38% |
74.31% |
77.13% |
77.45% |
78.01% |
79.07% |
81.70% |
81.67% |
84.38% |
81.64% |
84.00% |
Debt to EBITDA |
|
3.24 |
3.10 |
2.74 |
3.46 |
3.41 |
3.63 |
3.08 |
3.09 |
2.57 |
3.13 |
2.65 |
Net Debt to EBITDA |
|
3.19 |
2.98 |
2.69 |
3.20 |
2.97 |
2.85 |
0.44 |
2.36 |
1.64 |
3.06 |
2.09 |
Long-Term Debt to EBITDA |
|
3.20 |
3.10 |
2.74 |
3.46 |
3.41 |
3.63 |
3.08 |
3.09 |
2.57 |
2.82 |
2.65 |
Debt to NOPAT |
|
4.06 |
3.89 |
3.38 |
5.32 |
5.05 |
5.09 |
4.13 |
4.84 |
4.05 |
4.46 |
3.77 |
Net Debt to NOPAT |
|
4.00 |
3.75 |
3.32 |
4.91 |
4.39 |
4.00 |
0.60 |
3.69 |
2.58 |
4.36 |
2.98 |
Long-Term Debt to NOPAT |
|
4.01 |
3.89 |
3.38 |
5.32 |
5.05 |
5.09 |
4.13 |
4.84 |
4.05 |
4.02 |
3.77 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-557 |
-163 |
-565 |
-517 |
-545 |
-628 |
-804 |
-758 |
-758 |
-723 |
-373 |
Operating Cash Flow to CapEx |
|
170.31% |
207.92% |
170.43% |
160.71% |
90.68% |
60.17% |
117.31% |
133.29% |
138.81% |
150.61% |
128.32% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
-6.84 |
0.00 |
-87.54 |
-93.79 |
-48.00 |
0.00 |
-137.24 |
-154.79 |
-68.90 |
-47.05 |
Operating Cash Flow to Interest Expense |
|
0.00 |
1.43 |
0.00 |
8.23 |
9.16 |
2.99 |
0.00 |
11.65 |
14.28 |
4.89 |
7.75 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.74 |
0.00 |
3.11 |
-0.94 |
-1.98 |
0.00 |
2.91 |
3.99 |
1.64 |
1.71 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.13 |
0.12 |
0.12 |
0.10 |
0.10 |
0.10 |
0.10 |
0.10 |
0.10 |
0.10 |
0.10 |
Fixed Asset Turnover |
|
0.14 |
0.14 |
0.14 |
0.12 |
0.12 |
0.11 |
0.12 |
0.11 |
0.12 |
0.11 |
0.12 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
2,933 |
3,001 |
3,371 |
3,419 |
3,508 |
3,686 |
4,216 |
4,213 |
4,303 |
4,486 |
4,637 |
Invested Capital Turnover |
|
0.13 |
0.13 |
0.13 |
0.11 |
0.11 |
0.10 |
0.10 |
0.10 |
0.10 |
0.10 |
0.10 |
Increase / (Decrease) in Invested Capital |
|
586 |
222 |
596 |
557 |
576 |
686 |
846 |
793 |
795 |
800 |
421 |
Enterprise Value (EV) |
|
4,576 |
4,823 |
5,550 |
5,567 |
5,299 |
5,799 |
5,738 |
6,312 |
6,904 |
6,703 |
6,893 |
Market Capitalization |
|
3,806 |
4,080 |
4,793 |
4,856 |
4,628 |
5,194 |
5,626 |
5,723 |
6,476 |
5,898 |
6,308 |
Book Value per Share |
|
$28.49 |
$29.31 |
$33.77 |
$31.81 |
$32.62 |
$34.13 |
$38.76 |
$35.58 |
$37.47 |
$36.72 |
$39.04 |
Tangible Book Value per Share |
|
$26.82 |
$27.69 |
$31.96 |
$30.12 |
$30.97 |
$32.41 |
$37.10 |
$33.74 |
$35.65 |
$34.63 |
$36.93 |
Total Capital |
|
2,933 |
3,001 |
3,371 |
3,419 |
3,508 |
3,686 |
4,216 |
4,213 |
4,303 |
4,486 |
4,637 |
Total Debt |
|
781 |
771 |
771 |
771 |
771 |
772 |
772 |
772 |
672 |
823 |
742 |
Total Long-Term Debt |
|
771 |
771 |
771 |
771 |
771 |
772 |
772 |
772 |
672 |
741 |
742 |
Net Debt |
|
770 |
743 |
757 |
711 |
671 |
605 |
111 |
590 |
428 |
805 |
585 |
Capital Expenditures (CapEx) |
|
27 |
16 |
23 |
30 |
59 |
65 |
40 |
48 |
50 |
34 |
48 |
Net Nonoperating Expense (NNE) |
|
6.27 |
0.00 |
7.38 |
0.00 |
0.00 |
0.00 |
5.24 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
781 |
771 |
771 |
771 |
771 |
772 |
772 |
772 |
672 |
823 |
742 |
Total Depreciation and Amortization (D&A) |
|
13 |
13 |
15 |
15 |
15 |
16 |
18 |
19 |
20 |
22 |
23 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.30 |
$0.77 |
$0.29 |
$0.48 |
$0.36 |
$0.68 |
$0.40 |
$0.37 |
$0.37 |
$0.78 |
$0.48 |
Adjusted Weighted Average Basic Shares Outstanding |
|
75.50M |
75.50M |
79.90M |
83.12M |
84.04M |
83.17M |
88.87M |
96.29M |
97.56M |
95.52M |
100.77M |
Adjusted Diluted Earnings per Share |
|
$0.30 |
$0.77 |
$0.29 |
$0.48 |
$0.36 |
$0.68 |
$0.40 |
$0.37 |
$0.37 |
$0.78 |
$0.47 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
75.59M |
75.59M |
80.34M |
83.12M |
84.27M |
83.37M |
89.44M |
96.41M |
97.87M |
95.84M |
101.05M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
76.07M |
76.98M |
83.26M |
83.91M |
85.39M |
88.00M |
96.70M |
96.90M |
99.74M |
99.78M |
103.32M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
20 |
41 |
22 |
28 |
21 |
40 |
29 |
25 |
26 |
53 |
34 |
Normalized NOPAT Margin |
|
28.34% |
46.78% |
28.10% |
32.46% |
27.18% |
40.26% |
30.87% |
26.88% |
26.43% |
39.36% |
29.15% |
Pre Tax Income Margin |
|
31.61% |
66.40% |
30.45% |
46.34% |
38.77% |
57.42% |
38.51% |
38.36% |
37.74% |
56.21% |
41.65% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
1.78 |
0.00 |
6.82 |
5.21 |
3.84 |
0.00 |
6.47 |
7.48 |
6.75 |
6.07 |
NOPAT to Interest Expense |
|
0.00 |
2.47 |
0.00 |
6.82 |
5.21 |
4.40 |
0.00 |
6.47 |
7.48 |
7.25 |
6.07 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
1.09 |
0.00 |
1.70 |
-4.89 |
-1.13 |
0.00 |
-2.28 |
-2.81 |
3.50 |
0.03 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
1.78 |
0.00 |
1.70 |
-4.89 |
-0.56 |
0.00 |
-2.28 |
-2.81 |
4.00 |
0.03 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
59.06% |
54.24% |
55.80% |
82.84% |
83.69% |
89.70% |
87.80% |
96.79% |
99.14% |
94.84% |
94.01% |
Augmented Payout Ratio |
|
61.88% |
55.36% |
57.45% |
85.43% |
86.94% |
94.02% |
92.92% |
101.92% |
105.98% |
99.74% |
99.59% |
Key Financial Trends
Terreno Realty (NYSE:TRNO) showed solid financial performance in Q1 2025, continuing several positive trends from previous quarters and years, while also facing certain expense pressures and elevated interest costs.
- Q1 2025 net income attributable to common shareholders was $47.92 million with diluted EPS of $0.47, demonstrating profitability and consistent earnings generation.
- Total revenue in Q1 2025 reached $115.56 million, supported by strong other non-interest income of $110.42 million, which includes fees and other revenue streams beyond core interest income.
- Net realized and unrealized capital gains on investments were $11.84 million in Q1 2025, reflecting gains in the company’s investment portfolio.
- Net cash provided by operating activities was $61.43 million in Q1 2025, up from $51.33 million in Q4 2024, indicating healthy cash flow generation from core operations.
- The balance sheet strengthened from Q3 2024 to Q1 2025, with total assets increasing from $4.57 billion to $4.91 billion primarily due to growth in premises and equipment as well as cash and equivalents.
- Common equity rose from approximately $3.63 billion in Q3 2024 to $3.90 billion in Q1 2025, showing sustained capitalization growth.
- Long-term debt was relatively stable, around $741.9 million in Q1 2025 compared to $672.2 million in Q3 2024, suggesting moderate leverage.
- Q1 2025 dividend per share paid increased to $0.49, up from $0.45 in Q2 to Q4 2024, indicating management’s commitment to returning capital to shareholders with a slight increase in dividend.
- Net interest expense was $6.7 million in Q1 2025, reflecting higher interest costs primarily from long-term debt interest expense of $7.93 million, outweighing interest income of $1.22 million, which pressures net interest margins.
- Total non-interest expenses increased to $67.43 million in Q1 2025 from $64.52 million in Q4 2024, driven by increases in net occupancy and equipment expense and depreciation, which may impact operating margins if not controlled.
Summary: Terreno Realty continues to generate strong net income and cash flow, supported by robust non-interest income and prudent equity management. The company is investing in premises and equipment, growing total assets and equity, and maintaining reasonable leverage levels. However, higher interest expenses and operating costs warrant close monitoring as they could pressure profitability. The increase in dividend per share is a positive signal to investors about confidence in cash generation.
Overall, Terreno Realty shows a healthy and stable financial position with growth in earnings and core assets, balanced with some expense headwinds typical of a capital-intensive real estate firm.
08/30/25 10:42 AM ETAI Generated. May Contain Errors.