Terreno Realty (TRNO) Financials

$58.32 -0.05 (-0.09%)

Closing price 03:59 PM Eastern

Extended Trading

$57.90 -0.42 (-0.72%)

As of 07:21 PM Eastern

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.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	11	11	49	63	55	79	87	197	151	184
Consolidated Net Income / (Loss)	15	15	53	63	56	80	87	198	151	184
Net Income / (Loss) Continuing Operations	15	15	53	63	56	80	87	198	151	184
Total Pre-Tax Income	15	15	53	35	56	80	87	198	151	184
Total Revenue	96	108	133	155	184	215	239	365	342	419
Net Interest Income / (Expense)	0.02	0.00	0.17	3.66	3.82	0.87	0.00	-23	-20	-8.84
Total Interest Income	0.02	0.00	0.17	3.66	3.82	0.87	0.00	0.81	4.96	12
Investment Securities Interest Income	0.02	-	0.17	3.66	3.82	0.87	-	0.81	4.96	12
Total Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	24	25	21
Long-Term Debt Interest Expense	-	-	-	-	-	-	-	24	25	21
Total Non-Interest Income	96	108	132	152	180	214	239	388	362	428
Net Realized & Unrealized Capital Gains on Investments	-	-0.24	-	-	9.39	27	17	112	38	45
Other Non-Interest Income	96	108	132	152	171	187	222	276	324	383
Total Non-Interest Expense	82	87	93	102	112	119	134	167	190	235
Net Occupancy & Equipment Expense	27	30	36	40	44	49	56	69	79	98
Other Operating Expenses	15	19	20	22	24	23	27	31	38	43
Depreciation Expense	36	34	38	41	44	46	51	66	73	94
Restructuring Charge	4.71	3.13	0.01	0.12	0.05	0.27	0.17	1.47	0.22	0.07
Net Income / (Loss) Attributable to Noncontrolling Interest	0.08	0.10	0.35	0.40	0.35	0.40	0.31	0.85	0.71	0.79
Basic Earnings per Share	$0.26	$0.26	$0.95	$1.09	$0.86	$1.17	$1.23	$2.61	$1.81	$1.92
Weighted Average Basic Shares Outstanding	42.86M	44.73M	51.36M	57.49M	64.43M	67.76M	70.53M	75.50M	83.17M	95.52M
Diluted Earnings per Share	$0.26	$0.26	$0.95	$1.09	$0.85	$1.16	$1.23	$2.61	$1.81	$1.92
Weighted Average Diluted Shares Outstanding	42.86M	44.73M	51.36M	57.49M	64.72M	68.17M	70.79M	75.59M	83.37M	95.84M
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
Cash Dividends to Common per Share	-	-	-	$0.92	$1.02	$1.12	$1.26	$1.48	$1.70	$1.88

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
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
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

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
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
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

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
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
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

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
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
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

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
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
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

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
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
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%

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
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
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%

Financials Breakdown Chart

Key Financial Trends

Terreno Realty Corp (NYSE:TRNO) has demonstrated solid financial performance over the last four years, with recent updates through Q1 2025. The company’s core business involved substantial real estate assets, reflected in its balance sheet and consistent operational income. Here are the key trends and highlights from the recent quarterly data:

Terreno reported a strong consolidated net income of $48.13 million in Q1 2025, showing solid profitability.
The company maintained solid operating cash flow in Q1 2025 at $61.43 million, indicating healthy cash generation from its core business activities.
Total non-interest income in Q1 2025 was $122.3 million, boosted by $11.8 million in net realized and unrealized capital gains on investments, supporting revenue diversification.
Premises and equipment net assets increased from $3.54 billion in Q1 2023 to $4.25 billion in Q1 2025, highlighting growth in property assets.
Equity base has expanded steadily; total common equity grew from approximately $2.6 billion in Q1 2023 to nearly $3.9 billion by Q1 2025.

Net interest expense remains negative due to debt servicing costs, though interest expense reduced to $7.93 million in Q1 2025 from earlier higher levels in previous years.
Cash and equivalents show fluctuations, peaking in some quarters like Q1 2024 at $649.6M and then reducing to around $156.5M in Q1 2025, reflecting capital deployment.
The weighted average diluted shares outstanding have steadily increased from approx. 80.3 million shares in early 2023 to around 103.3 million in Q1 2025, which can slightly dilute EPS.

Net interest expense continues to be a drag, with Q1 2025 showing a net interest expense of about $6.7 million, reducing overall net revenue contributions.
Capital expenditures are high; Q1 2025 investing activities show purchases of property and equipment of approximately $47.9 million, requiring significant cash outflows.
Long-term debt remains substantial, around $742 million in Q1 2025, imposing fixed financial obligations.
Dividends paid remain high, with $48.9 million paid out in Q1 2025, which while rewarding shareholders, also uses a significant portion of cash reserves.

Summary: Terreno Realty continues to exhibit strong profitability and cash flow, supported by its expanding asset base and capital gains on investments. While net interest expenses and debt levels remain notable, the company appears to be managing these effectively. Steady dividend payments indicate confidence in cash flows, though investors should monitor debt servicing costs and capital expenditure commitments over time. Overall, the financial health and operational momentum seem positive, with a balanced mix of growth and shareholder returns.

10/09/25 12:30 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Terreno Realty's Financials

When does Terreno Realty's financial year end?

According to the most recent income statement we have on file, Terreno Realty's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Terreno Realty's net income changed over the last 9 years?

Terreno Realty's net income appears to be on an upward trend, with a most recent value of $184.50 million in 2024, rising from $14.60 million in 2015. The previous period was $151.46 million in 2023. Check out Terreno Realty's forecast to explore projected trends and price targets.

How has Terreno Realty's revenue changed over the last 9 years?

Over the last 9 years, Terreno Realty's total revenue changed from $95.91 million in 2015 to $419.16 million in 2024, a change of 337.0%.

How much debt does Terreno Realty have?

Terreno Realty's total liabilities were at $1.11 billion at the end of 2024, a 11.9% increase from 2023, and a 164.4% increase since 2015.

How much cash does Terreno Realty have?

In the past 9 years, Terreno Realty's cash and equivalents has ranged from $14.21 million in 2016 to $204.40 million in 2021, and is currently $18.07 million as of their latest financial filing in 2024.

How has Terreno Realty's book value per share changed over the last 9 years?

Over the last 9 years, Terreno Realty's book value per share changed from 15.86 in 2015 to 36.72 in 2024, a change of 131.5%.

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This page (NYSE:TRNO) was last updated on 10/8/2025 by MarketBeat.com Staff

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Terreno Realty (TRNO) Financials

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Terreno Realty (TRNO) Financials

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