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Terreno Realty (TRNO) Financials

Terreno Realty logo
$66.57 -0.02 (-0.03%)
Closing price 08/28/2026 03:58 PM Eastern
Extended Trading
$66.59 +0.02 (+0.03%)
As of 03:59 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Terreno Realty

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 2025
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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 11 11 49 63 55 79 87 197 151 184 401
Consolidated Net Income / (Loss)		 15 15 53 63 56 80 87 198 151 184 403
Net Income / (Loss) Continuing Operations		 15 15 53 63 56 80 87 198 151 184 403
Total Pre-Tax Income 		15 15 53 35 56 80 87 198 151 184 403
Total Revenue		 96 108 133 155 184 215 239 365 342 419 687
Net Interest Income / (Expense)		 0.02 0.00 0.17 3.66 3.82 0.87 0.00 -23 -20 -8.84 -28
Total Interest Income		 0.02 0.00 0.17 3.66 3.82 0.87 0.00 0.81 4.96 12 5.33
Investment Securities Interest Income		 0.02 - 0.17 3.66 3.82 0.87 - 0.81 4.96 12 5.33
Total Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 24 25 21 33
Long-Term Debt Interest Expense		 - - - - - - - 24 25 21 33
Total Non-Interest Income		 96 108 132 152 180 214 239 388 362 428 715
Net Realized & Unrealized Capital Gains on Investments		 - -0.24 - - 9.39 27 17 112 38 45 238
Other Non-Interest Income		 96 108 132 152 171 187 222 276 324 383 476
Total Non-Interest Expense		 82 87 93 102 112 119 134 167 190 235 284
Net Occupancy & Equipment Expense		 27 30 36 40 44 49 56 69 79 98 115
Other Operating Expenses		 15 19 20 22 24 23 27 31 38 43 47
Depreciation Expense		 36 34 38 41 44 46 51 66 73 94 122
Restructuring Charge		 4.71 3.13 0.01 0.12 0.05 0.27 0.17 1.47 0.22 0.07 0.35
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 1.80
Basic Earnings per Share		 $0.26 $0.26 $0.95 $1.09 $0.86 $1.17 $1.23 $2.61 $1.81 $1.92 $3.92
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 102.46M
Diluted Earnings per Share		 $0.26 $0.26 $0.95 $1.09 $0.85 $1.16 $1.23 $2.61 $1.81 $1.92 $3.91
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 102.72M
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 104.18M
Cash Dividends to Common per Share		 - - - $0.92 $1.02 $1.12 $1.26 $1.48 $1.70 $1.88 $2.02

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 57 36 36 36 76 48 93 103 157 69 57
Consolidated Net Income / (Loss)		 58 36 36 37 76 48 93 103 158 69 58
Net Income / (Loss) Continuing Operations		 58 36 36 37 76 48 93 103 158 69 58
Total Pre-Tax Income 		58 36 36 37 76 48 93 103 158 69 58
Total Revenue		 100 88 93 97 135 116 162 172 238 143 130
Net Interest Income / (Expense)		 -12 -2.35 -1.19 -2.55 -7.99 -6.70 -5.09 -7.00 -8.73 -8.47 -6.56
Total Interest Income		 0.94 2.89 4.33 2.35 2.51 1.22 1.94 1.37 0.79 0.51 1.78
Investment Securities Interest Income		 0.94 2.89 4.33 2.35 2.51 1.22 1.94 1.37 0.79 0.51 1.78
Total Interest Expense		 13 5.24 5.52 4.90 11 7.93 7.04 8.37 9.53 8.99 8.34
Long-Term Debt Interest Expense		 - 5.24 5.52 4.90 - 7.93 7.04 8.37 9.53 8.99 8.34
Total Non-Interest Income		 112 91 94 100 143 122 167 179 247 152 137
Net Realized & Unrealized Capital Gains on Investments		 26 5.72 0.00 0.00 40 12 55 62 110 27 12
Other Non-Interest Income		 86 85 94 100 104 110 112 116 137 124 125
Total Non-Interest Expense		 50 52 57 60 65 67 69 68 80 74 73
Net Occupancy & Equipment Expense		 22 21 24 26 28 29 28 28 30 32 30
Other Operating Expenses		 9.73 11 11 11 11 12 12 12 12 12 14
Depreciation Expense		 19 21 23 24 26 27 28 28 38 29 29
Restructuring Charge		 0.09 0.00 0.04 0.01 0.03 0.00 0.23 0.10 0.02 0.03 0.01
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.28 0.15 0.16 0.16 0.33 0.21 0.40 0.47 0.73 0.32 0.26
Basic Earnings per Share		 $0.68 $0.40 $0.37 $0.37 $0.78 $0.48 $0.90 $1.00 $1.54 $0.66 $0.54
Weighted Average Basic Shares Outstanding		 83.17M 88.87M 96.29M 97.56M 95.52M 100.77M 102.89M 102.91M 102.46M 104.91M 106.55M
Diluted Earnings per Share		 $0.68 $0.40 $0.37 $0.37 $0.78 $0.47 $0.90 $1.00 $1.54 $0.66 $0.54
Weighted Average Diluted Shares Outstanding		 83.37M 89.44M 96.41M 97.87M 95.84M 101.05M 103.01M 103.14M 102.72M 105.22M 106.67M
Weighted Average Basic & Diluted Shares Outstanding		 88.00M 96.70M 96.90M 99.74M 99.78M 103.32M 103.30M 103.40M 104.18M 106.31M 108.97M

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 2025
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 12/31/2025
Net Change in Cash & Equivalents		 -172 -6.63 24 -8.32 78 -4.90 97 -177 138 -148 7.24
Net Cash From Operating Activities		 42 49 69 78 95 101 132 143 180 233 272
Net Cash From Continuing Operating Activities		 42 49 69 78 95 101 132 143 180 233 272
Net Income / (Loss) Continuing Operations		 15 15 53 63 56 80 87 198 151 184 403
Consolidated Net Income / (Loss)		 15 15 53 63 56 80 87 198 151 184 403
Depreciation Expense		 36 34 38 41 44 46 51 66 73 94 122
Amortization Expense		 -1.53 -0.57 -0.97 -2.64 -3.65 -4.09 -6.35 -15 -12 -16 -26
Non-Cash Adjustments to Reconcile Net Income		 -8.38 -2.20 -26 -23 -1.16 -17 -16 -111 -33 -40 -236
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 9.31
Net Cash From Investing Activities		 -260 -150 -249 -235 -251 -52 -666 -338 -570 -915 -452
Net Cash From Continuing Investing Activities		 -260 -150 -249 -235 -251 -52 -666 -338 -570 -915 -452
Purchase of Property, Leasehold Improvements and Equipment		 -20 -43 -27 -39 -60 -41 -63 -92 -177 -173 -133
Purchase of Investment Securities		 -263 -128 -297 -277 -239 -98 -645 -408 -467 -815 -694
Sale and/or Maturity of Investments		 24 21 75 80 47 87 41 162 73 72 375
Net Cash From Financing Activities		 45 94 204 149 235 -54 631 18 529 535 188
Net Cash From Continuing Financing Activities		 45 94 204 149 235 -54 631 18 529 535 188
Issuance of Debt		 100 146 193 204 117 0.00 350 308 82 110 423
Issuance of Common Equity		 3.12 101 255 209 278 65 462 79 671 743 281
Repayment of Debt		 -25 -111 -146 -204 -88 -33 -86 -258 -82 -128 -305
Repurchase of Common Equity		 -0.56 -3.06 -7.20 -6.90 -7.98 -11 -6.27 -2.21 -6.55 -9.05 -7.36
Payment of Dividends		 -31 -37 -44 -51 -64 -75 -85 -107 -136 -175 -204
Other Financing Activities, Net		 -1.47 -2.50 -0.87 -1.37 -0.94 0.00 -4.03 -1.50 -0.08 -5.81 0.00
Cash Interest Paid		 8.38 12 14 20 18 16 15 25 32 21 27

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 66 494 -478 61 -226 139 -28 -102 -1.17 63 -36
Net Cash From Operating Activities		 39 47 64 70 51 61 61 80 70 62 75
Net Cash From Continuing Operating Activities		 39 47 64 70 51 61 61 80 70 62 75
Net Income / (Loss) Continuing Operations		 58 36 36 37 76 48 93 103 158 69 58
Consolidated Net Income / (Loss)		 58 36 36 37 76 48 93 103 158 69 58
Depreciation Expense		 19 21 23 24 26 27 28 28 38 29 29
Amortization Expense		 -2.85 -2.96 -4.07 -4.23 -4.26 -4.16 -4.48 -5.08 -12 -4.41 -4.47
Non-Cash Adjustments to Reconcile Net Income		 -25 -3.81 2.04 0.66 -39 -12 -53 -63 -109 -30 -13
Changes in Operating Assets and Liabilities, net		 -9.72 -3.19 7.66 13 -7.78 2.04 -2.71 15 -5.41 -2.95 6.11
Net Cash From Investing Activities		 -91 -49 -499 -58 -310 -24 -38 -410 19 -74 -186
Net Cash From Continuing Investing Activities		 -91 -49 -499 -58 -310 -24 -38 -410 19 -74 -186
Purchase of Property, Leasehold Improvements and Equipment		 -65 -40 -48 -50 -34 -48 -24 -30 -32 -25 -42
Purchase of Investment Securities		 -74 -19 -450 -7.90 -338 0.00 -126 -478 -89 -103 -174
Sale and/or Maturity of Investments		 48 10 - - 62 24 112 98 141 54 30
Net Cash From Financing Activities		 118 496 -44 50 33 101 -51 228 -91 75 75
Net Cash From Continuing Financing Activities		 118 496 -44 50 33 101 -51 228 -91 75 75
Issuance of Debt		 33 0.00 - - 110 50 - 310 63 215 30
Issuance of Common Equity		 158 538 -0.00 204 - 237 - - 44 135 132
Repayment of Debt		 -33 0.00 - -100 -28 -132 - -30 -143 -215 -30
Repurchase of Common Equity		 -2.31 -3.46 -0.27 -5.32 - -5.39 -0.05 -1.29 -0.63 -4.29 -1.96
Payment of Dividends		 -38 -39 -44 -44 -49 -49 -51 -51 -54 -54 -55
Other Financing Activities, Net		 - - - -5.81 - 0.00 - - - -1.85 -0.15
Cash Interest Paid		 7.56 9.75 5.16 9.82 -3.84 6.71 5.43 9.28 6.02 9.01 6.67

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 2025
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 12/31/2025
Total Assets		 1,152 1,279 1,568 1,797 2,108 2,140 2,924 3,164 3,905 4,770 5,388
Cash and Due from Banks		 22 14 36 31 110 107 204 26 165 18 25
Restricted Cash		 2.66 4.27 7.09 3.48 2.66 0.66 0.40 1.69 0.84 0.28 0.57
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 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 4,820
Intangible Assets		 55 63 76 79 89 89 114 124 147 208 224
Other Assets		 50 27 28 126 151 100 117 113 419 310 319
Total Liabilities & Shareholders' Equity		 1,152 1,279 1,568 1,797 2,108 2,140 2,924 3,164 3,905 4,770 5,388
Total Liabilities		 419 467 540 549 591 552 866 935 990 1,108 1,242
Non-Interest Bearing Deposits		 7.51 9.92 11 12 14 14 24 27 33 40 48
Short-Term Debt		 0.00 52 0.00 19 0.00 0.00 0.00 0.00 0.00 82 200
Other Short-Term Payables		 7.80 9.48 12 15 18 20 26 31 39 49 54
Long-Term Debt		 381 364 462 443 492 459 721 771 772 741 743
Other Long-Term Liabilities		 22 32 55 60 67 59 96 106 147 196 197
Commitments & Contingencies		 0.00 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 4,146
Total Preferred & Common Equity		 733 812 1,027 1,248 1,517 1,588 2,058 2,230 2,915 3,662 4,146
Total Common Equity		 687 766 1,027 1,248 1,517 1,588 2,058 2,230 2,915 3,662 4,146
Common Stock		 688 767 1,024 1,234 1,515 1,582 2,055 2,142 2,819 3,567 3,857
Retained Earnings		 0.00 0.00 4.80 14 2.62 5.93 2.80 88 96 95 289

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 3,578 3,637 3,739 4,439 4,467 4,571 4,907 4,982 5,329 5,552 5,712
Cash and Due from Banks		 11 59 96 650 182 244 157 128 26 88 51
Restricted Cash		 2.61 1.10 4.03 11 0.46 0.26 0.62 0.47 0.61 0.69 0.95
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 3,097 3,094 3,089 3,152 3,731 3,773 4,245 4,292 4,749 4,862 5,080
Intangible Assets		 140 141 139 147 178 177 211 213 231 217 225
Other Assets		 328 343 411 479 375 377 293 348 323 384 354
Total Liabilities & Shareholders' Equity		 3,578 3,637 3,739 4,439 4,467 4,571 4,907 4,982 5,329 5,552 5,712
Total Liabilities		 978 989 1,002 994 1,026 940 1,011 1,039 1,334 1,256 1,280
Non-Interest Bearing Deposits		 30 32 33 34 37 37 41 40 43 49 49
Short-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 280 0.00 0.00
Other Short-Term Payables		 33 34 38 44 44 49 51 51 54 55 56
Long-Term Debt		 771 771 771 772 772 672 742 742 743 942 942
Other Long-Term Liabilities		 145 152 160 145 174 181 178 206 214 210 232
Commitments & Contingencies		 0.00 0.00 0.00 - - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,600 2,648 2,737 3,445 3,441 3,631 3,896 3,943 3,996 4,296 4,432
Total Preferred & Common Equity		 2,600 2,648 2,737 3,445 3,441 3,631 3,896 3,943 3,996 4,296 4,432
Total Common Equity		 2,600 2,648 2,737 3,445 3,441 3,631 3,896 3,943 3,996 4,296 4,432
Common Stock		 2,521 2,563 2,660 3,356 3,360 3,563 3,803 3,808 3,811 3,992 4,127
Retained Earnings		 78 85 77 88 80 68 93 135 185 303 305

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 2025
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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 39.25% 12.79% 22.62% 17.09% 18.61% 16.44% 11.20% 53.14% -6.41% 22.59% 63.97%
EBITDA Growth		 35.08% 13.84% 38.82% 19.63% 23.44% 22.40% 8.17% 67.23% -14.70% 23.83% 89.69%
EBIT Growth		 -21.01% 53.64% 86.69% 34.86% 36.21% 32.97% 9.08% 89.51% -23.51% 21.81% 118.43%
NOPAT Growth		 -21.01% 53.64% 86.69% 34.86% 36.21% 32.97% 9.08% 89.51% -23.51% 21.81% 118.43%
Net Income Growth		 36.23% 3.54% 251.20% 19.20% -12.28% 43.73% 9.35% 126.94% -23.51% 21.81% 118.43%
EPS Growth		 13.04% 0.00% 265.38% 14.74% -22.02% 36.47% 6.03% 112.20% -30.65% 6.08% 103.65%
Operating Cash Flow Growth		 43.47% 17.05% 41.14% 11.66% 22.02% 6.72% 30.83% 8.32% 25.46% 29.50% 16.84%
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% 67.35%
Invested Capital Growth		 6.20% 10.10% 21.35% 14.82% 17.48% 1.92% 35.72% 7.99% 22.85% 21.69% 13.46%
Revenue Q/Q Growth		 6.04% 5.23% 10.24% -0.74% 7.29% -1.97% 11.44% 4.35% -3.47% 2.53% 16.56%
EBITDA Q/Q Growth		 3.81% 5.87% 20.60% -4.23% 10.76% -4.39% 15.69% 3.26% -6.14% 0.69% 21.00%
EBIT Q/Q Growth		 -27.68% 38.15% 46.23% -6.65% 15.56% -5.74% 22.13% 3.04% -9.64% -2.18% 25.59%
NOPAT Q/Q Growth		 -27.68% 38.15% 46.23% -6.65% 15.56% -5.74% 22.13% 3.04% -0.87% 11.18% 25.59%
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% 25.59%
EPS Q/Q Growth		 -18.75% 13.04% 23.38% 21.11% -16.67% -2.52% 25.51% 14.47% -4.74% 5.49% 24.13%
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% 7.49%
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% 49.04%
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% 1.42%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 50.22% 50.69% 57.38% 58.63% 61.02% 64.13% 62.38% 68.12% 62.09% 62.72% 72.56%
EBIT Margin		 14.26% 19.42% 29.56% 34.05% 39.11% 44.65% 43.80% 54.20% 44.30% 44.02% 58.64%
Profit (Net Income) Margin		 15.22% 13.98% 40.03% 40.75% 30.13% 37.20% 36.58% 54.20% 44.30% 44.02% 58.64%
Tax Burden Percent		 100.00% 100.00% 100.00% 182.50% 100.00% 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% 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)		 1.26% 1.79% 2.89% 3.31% 3.87% 4.72% 4.33% 6.85% 4.53% 4.52% 8.42%
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% 8.42%
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% 1.90%
Return on Equity (ROE)		 1.97% 1.96% 5.77% 5.56% 4.02% 5.14% 4.79% 9.24% 5.89% 5.61% 10.32%
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% -4.20%
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% 7.93%
Return on Assets (ROA)		 1.31% 1.24% 3.73% 3.76% 2.84% 3.76% 3.45% 6.50% 4.29% 4.25% 7.93%
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% 10.32%
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% 9.72%
Net Operating Profit after Tax (NOPAT)		 14 21 39 53 72 96 104 198 151 184 403
NOPAT Margin		 14.26% 19.42% 29.56% 34.05% 39.11% 44.65% 43.80% 54.20% 44.30% 44.02% 58.64%
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% 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% 16.75%
Operating Expenses to Revenue		 85.74% 80.58% 70.44% 65.95% 60.89% 55.35% 56.20% 45.80% 55.70% 55.98% 41.36%
Earnings before Interest and Taxes (EBIT)		 14 21 39 53 72 96 104 198 151 184 403
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 48 55 76 91 112 138 149 249 212 263 499
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 1.46
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 1.55
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 8.83
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 15.13
Dividend Yield		 3.60% 3.20% 2.80% 3.69% 2.10% 2.59% 1.58% 2.76% 3.45% 3.18% 3.44%
Earnings Yield		 1.38% 1.04% 2.99% 3.44% 1.70% 2.17% 1.53% 4.83% 2.90% 3.11% 6.61%
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 1.37
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 10.17
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 14.01
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 17.34
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 17.34
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 25.70
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 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 0.23
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 0.18
Financial Leverage		 0.46 0.52 0.48 0.41 0.34 0.31 0.32 0.35 0.30 0.24 0.23
Leverage Ratio		 1.50 1.57 1.55 1.48 1.41 1.37 1.39 1.42 1.37 1.32 1.30
Compound Leverage Factor		 1.61 1.13 2.10 0.97 1.09 1.14 1.16 1.42 1.37 1.32 1.30
Debt to Total Capital		 34.23% 33.85% 31.00% 27.02% 24.47% 22.43% 25.94% 25.69% 20.93% 18.36% 18.53%
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% 3.93%
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% 14.61%
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% 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		 61.65% 62.41% 69.00% 72.98% 75.53% 77.57% 74.06% 74.31% 79.07% 81.64% 81.47%
Debt to EBITDA		 7.92 7.57 6.07 5.07 4.37 3.34 4.84 3.10 3.63 3.13 1.89
Net Debt to EBITDA		 7.40 7.24 5.50 4.70 3.37 2.55 3.47 2.98 2.85 3.06 1.84
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 1.49
Debt to NOPAT		 27.90 19.77 11.77 8.74 6.82 4.79 6.90 3.89 5.09 4.46 2.34
Net Debt to NOPAT		 26.06 18.89 10.68 8.09 5.26 3.67 4.94 3.75 4.00 4.36 2.28
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 1.84
Noncontrolling Interest Sharing Ratio		 6.22% 5.96% 2.50% 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)		 -51 -92 -223 -168 -227 57 -627 -24 -534 -615 -201
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% 203.83%
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 -6.11
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 8.27
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 4.21
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.09 0.09 0.09 0.09 0.09 0.10 0.09 0.12 0.10 0.10 0.14
Fixed Asset Turnover		 0.10 0.10 0.10 0.11 0.11 0.12 0.11 0.14 0.11 0.11 0.15
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 5,090
Invested Capital Turnover		 0.09 0.09 0.10 0.10 0.10 0.11 0.10 0.13 0.10 0.10 0.14
Increase / (Decrease) in Invested Capital		 65 113 262 221 299 39 731 222 686 800 604
Enterprise Value (EV)		 1,196 1,547 2,057 2,254 3,632 4,017 6,195 4,823 5,799 6,703 6,988
Market Capitalization		 794 1,104 1,638 1,826 3,253 3,665 5,679 4,080 5,194 5,898 6,070
Book Value per Share		 $15.86 $16.50 $18.84 $21.10 $22.64 $23.23 $28.86 $29.31 $34.13 $36.72 $40.10
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 $37.94
Total Capital		 1,115 1,227 1,489 1,710 2,009 2,047 2,779 3,001 3,686 4,486 5,090
Total Debt		 381 415 462 462 492 459 721 771 772 823 943
Total Long-Term Debt		 381 364 462 443 492 459 721 771 772 741 743
Net Debt		 356 397 419 428 379 351 516 743 605 805 918
Capital Expenditures (CapEx)		 20 43 27 39 60 41 63 92 177 173 133
Net Nonoperating Expense (NNE)		 -0.93 5.89 -14 -10 17 16 17 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 381 415 462 462 492 459 721 771 772 823 943
Total Depreciation and Amortization (D&A)		 34 34 37 38 40 42 44 51 61 78 96
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 $3.92
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 102.46M
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 $3.91
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 102.72M
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 $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 104.18M
Normalized Net Operating Profit after Tax (NOPAT)		 13 17 27 37 50 67 73 140 106 129 282
Normalized NOPAT Margin		 13.42% 15.62% 20.70% 23.89% 27.39% 31.35% 30.71% 38.22% 31.05% 30.82% 41.08%
Pre Tax Income Margin		 15.22% 13.98% 40.03% 22.33% 30.13% 37.20% 36.58% 54.20% 44.30% 44.02% 58.64%
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 12.27
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.30 6.11 8.82 12.27
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 8.21
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 8.21
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% 50.59%
Augmented Payout Ratio		 216.89% 263.29% 96.18% 92.19% 128.88% 107.22% 104.17% 55.36% 94.02% 99.74% 52.42%

Quarterly Metrics And Ratios for Terreno Realty

This table displays calculated financial ratios and metrics derived from Terreno Realty's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 104,178,096.00 106,307,209.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 104,178,096.00 106,307,209.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.67 0.54
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 13.04% 22.22% 7.13% 24.15% 35.06% 30.72% 73.85% 76.82% 69.45% 23.90% -19.53%
EBITDA Growth		 17.82% 29.68% -1.07% 24.23% 40.36% 31.20% 113.80% 124.34% 88.52% 33.32% -29.59%
EBIT Growth		 18.11% 34.50% -11.32% 20.86% 41.21% 33.46% 161.30% 182.15% 107.90% 44.28% -38.28%
NOPAT Growth		 -2.25% 34.50% -11.32% 20.86% 32.22% 33.46% 161.30% 182.15% 107.90% 44.28% -38.28%
Net Income Growth		 -2.25% 54.55% -11.32% 20.86% 32.22% 33.46% 161.30% 182.15% 107.90% 44.28% -38.28%
EPS Growth		 -11.69% 37.93% -22.92% 2.78% 14.71% 17.50% 143.24% 170.27% 97.44% 40.43% -40.00%
Operating Cash Flow Growth		 14.21% 21.23% 32.47% 31.41% 31.43% 30.60% -5.75% 13.63% 36.90% 0.80% 23.57%
Free Cash Flow Firm Growth		 -284.89% -42.35% -46.67% -39.10% -15.21% 53.93% 49.91% 19.36% 38.40% -42.31% -66.44%
Invested Capital Growth		 22.85% 25.08% 23.20% 22.66% 21.69% 9.99% 11.22% 16.61% 13.46% 12.94% 14.71%
Revenue Q/Q Growth		 28.18% -21.46% -0.62% 4.32% 39.45% -14.64% 40.00% 6.11% 38.81% -39.91% -9.07%
EBITDA Q/Q Growth		 45.01% -30.18% -7.82% 3.35% 63.84% -23.37% 64.77% 8.44% 45.48% -48.71% -12.97%
EBIT Q/Q Growth		 65.54% -40.29% -13.57% 2.64% 93.41% -32.09% 93.81% 10.83% 53.05% -56.11% -17.09%
NOPAT Q/Q Growth		 89.86% -28.25% -13.57% 2.64% 107.71% -36.76% 93.81% 10.83% 53.05% -56.11% -17.09%
Net Income Q/Q Growth		 89.86% -37.35% -1.01% 2.64% 107.71% -36.76% 93.81% 10.83% 53.05% -56.11% -17.09%
EPS Q/Q Growth		 88.89% -41.18% -7.50% 0.00% 110.81% -39.74% 91.49% 11.11% 54.00% -57.14% -18.18%
Operating Cash Flow Q/Q Growth		 -26.68% 20.46% 36.76% 8.80% -26.67% 19.69% -1.30% 31.16% -11.65% -11.87% 20.99%
Free Cash Flow Firm Q/Q Growth		 -15.16% -28.07% 5.81% -0.12% 4.62% 48.45% -1.74% -61.19% 27.14% -19.11% -18.99%
Invested Capital Q/Q Growth		 5.07% 14.38% -0.09% 2.16% 4.24% 3.38% 1.03% 7.11% 1.42% 2.91% 2.61%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 65.76% 63.30% 58.71% 58.16% 68.34% 61.35% 72.20% 73.79% 77.34% 66.01% 63.18%
EBIT Margin		 50.06% 44.11% 38.36% 37.74% 52.34% 41.65% 57.65% 60.22% 66.40% 48.49% 44.22%
Profit (Net Income) Margin		 57.42% 38.51% 38.36% 37.74% 56.21% 41.65% 57.65% 60.22% 66.40% 48.49% 44.22%
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		 114.70% 87.31% 100.00% 100.00% 107.39% 100.00% 100.00% 100.00% 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% 0.00%
Return on Invested Capital (ROIC)		 5.87% 4.46% 3.92% 3.95% 5.77% 4.20% 6.67% 7.62% 9.53% 7.02% 6.01%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.87% 3.78% 3.92% 3.95% 5.77% 4.20% 6.67% 7.62% 9.53% 7.02% 6.01%
Return on Net Nonoperating Assets (RNNOA)		 1.76% 0.97% 0.99% 0.90% 1.40% 0.87% 1.37% 1.69% 2.16% 1.44% 1.21%
Return on Equity (ROE)		 7.63% 5.43% 4.91% 4.85% 7.17% 5.06% 8.04% 9.31% 11.69% 8.47% 7.22%
Cash Return on Invested Capital (CROIC)		 -15.97% -17.36% -16.60% -16.11% -15.05% -5.07% -4.91% -8.46% -4.20% -3.56% -5.97%
Operating Return on Assets (OROA)		 4.84% 4.22% 3.69% 3.71% 5.06% 3.98% 6.29% 7.17% 8.98% 6.63% 5.65%
Return on Assets (ROA)		 5.55% 3.69% 3.69% 3.71% 5.43% 3.98% 6.29% 7.17% 8.98% 6.63% 5.65%
Return on Common Equity (ROCE)		 7.63% 5.43% 4.91% 4.85% 7.17% 5.06% 8.04% 9.31% 11.69% 8.47% 7.22%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 4.77% 4.64% 4.57% 0.00% 5.05% 6.45% 8.03% 0.00% 9.88% 8.77%
Net Operating Profit after Tax (NOPAT)		 58 41 36 37 76 48 93 103 158 69 58
NOPAT Margin		 57.42% 44.11% 38.36% 37.74% 56.21% 41.65% 57.65% 60.22% 66.40% 48.49% 44.22%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.68% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 21.60% 22.31% 25.55% 26.37% 20.56% 24.89% 17.25% 16.45% 12.67% 22.21% 22.75%
Operating Expenses to Revenue		 49.94% 55.90% 61.64% 62.26% 47.66% 58.35% 42.35% 39.78% 33.60% 51.51% 55.78%
Earnings before Interest and Taxes (EBIT)		 50 41 36 37 71 48 93 103 158 69 58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 66 59 55 56 93 71 117 127 184 95 82
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.78 1.63 1.66 1.78 1.61 1.62 1.47 1.47 1.46 1.49 1.55
Price to Tangible Book Value (P/TBV)		 1.88 1.71 1.75 1.87 1.71 1.71 1.55 1.56 1.55 1.57 1.64
Price to Revenue (P/Rev)		 15.19 14.66 14.68 15.84 14.07 14.13 11.25 9.94 8.83 8.95 10.08
Price to Earnings (P/E)		 34.45 34.43 36.02 39.20 32.11 32.23 22.89 18.35 15.13 15.15 17.80
Dividend Yield		 3.45% 2.66% 3.04% 2.75% 3.18% 3.04% 3.50% 3.51% 3.44% 3.34% 3.21%
Earnings Yield		 2.90% 2.90% 2.78% 2.55% 3.11% 3.10% 4.37% 5.45% 6.61% 6.60% 5.62%
Enterprise Value to Invested Capital (EV/IC)		 1.57 1.36 1.50 1.60 1.49 1.49 1.37 1.37 1.37 1.38 1.45
Enterprise Value to Revenue (EV/Rev)		 16.96 14.95 16.19 16.89 15.99 15.44 12.44 11.63 10.17 10.14 11.38
Enterprise Value to EBITDA (EV/EBITDA)		 27.32 22.89 25.24 26.44 25.50 24.64 18.74 16.64 14.01 13.89 15.94
Enterprise Value to EBIT (EV/EBIT)		 38.29 30.71 34.63 36.60 36.33 35.07 25.21 21.37 17.34 17.09 20.01
Enterprise Value to NOPAT (EV/NOPAT)		 38.29 30.71 39.55 41.60 36.33 35.07 25.21 21.37 17.34 17.09 20.01
Enterprise Value to Operating Cash Flow (EV/OCF)		 32.27 30.53 30.99 31.32 28.81 27.90 26.32 27.12 25.70 26.63 27.13
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		 0.26 0.22 0.22 0.19 0.22 0.19 0.19 0.26 0.23 0.22 0.21
Long-Term Debt to Equity		 0.26 0.22 0.22 0.19 0.20 0.19 0.19 0.19 0.18 0.22 0.21
Financial Leverage		 0.30 0.26 0.25 0.23 0.24 0.21 0.21 0.22 0.23 0.21 0.20
Leverage Ratio		 1.37 1.33 1.33 1.31 1.32 1.27 1.28 1.30 1.30 1.28 1.28
Compound Leverage Factor		 1.58 1.16 1.33 1.31 1.42 1.27 1.28 1.30 1.30 1.28 1.28
Debt to Total Capital		 20.93% 18.30% 18.33% 15.62% 18.36% 16.00% 15.84% 20.38% 18.53% 17.99% 17.54%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 1.83% 0.00% 0.00% 5.58% 3.93% 0.00% 0.00%
Long-Term Debt to Total Capital		 20.93% 18.30% 18.33% 15.62% 16.53% 16.00% 15.84% 14.80% 14.61% 17.99% 17.54%
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		 79.07% 81.70% 81.67% 84.38% 81.64% 84.00% 84.16% 79.62% 81.47% 82.01% 82.46%
Debt to EBITDA		 3.63 3.08 3.09 2.57 3.13 2.65 2.17 2.48 1.89 1.80 1.93
Net Debt to EBITDA		 2.85 0.44 2.36 1.64 3.06 2.09 1.79 2.42 1.84 1.63 1.83
Long-Term Debt to EBITDA		 3.63 3.08 3.09 2.57 2.82 2.65 2.17 1.80 1.49 1.80 1.93
Debt to NOPAT		 5.09 4.13 4.84 4.05 4.46 3.77 2.92 3.19 2.34 2.22 2.43
Net Debt to NOPAT		 4.00 0.60 3.69 2.58 4.36 2.98 2.41 3.10 2.28 2.01 2.29
Long-Term Debt to NOPAT		 5.09 4.13 4.84 4.05 4.02 3.77 2.92 2.32 1.84 2.22 2.43
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)		 -628 -804 -758 -758 -723 -373 -379 -612 -446 -531 -632
Operating Cash Flow to CapEx		 60.17% 117.31% 133.29% 138.81% 150.61% 128.32% 254.93% 265.44% 221.25% 251.45% 178.13%
Free Cash Flow to Firm to Interest Expense		 -48.00 0.00 -137.24 -154.79 -68.90 -47.05 -53.92 -73.10 -46.78 -59.06 -75.75
Operating Cash Flow to Interest Expense		 2.99 0.00 11.65 14.28 4.89 7.75 8.62 9.51 7.38 6.89 8.99
Operating Cash Flow Less CapEx to Interest Expense		 -1.98 0.00 2.91 3.99 1.64 1.71 5.24 5.92 4.04 4.15 3.94
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.10 0.10 0.10 0.10 0.10 0.10 0.11 0.12 0.14 0.14 0.13
Fixed Asset Turnover		 0.11 0.12 0.11 0.12 0.11 0.12 0.13 0.14 0.15 0.16 0.15
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,686 4,216 4,213 4,303 4,486 4,637 4,685 5,018 5,090 5,238 5,374
Invested Capital Turnover		 0.10 0.10 0.10 0.10 0.10 0.10 0.12 0.13 0.14 0.14 0.14
Increase / (Decrease) in Invested Capital		 686 846 793 795 800 421 473 715 604 600 689
Enterprise Value (EV)		 5,799 5,738 6,312 6,904 6,703 6,893 6,407 6,858 6,988 7,252 7,776
Market Capitalization		 5,194 5,626 5,723 6,476 5,898 6,308 5,793 5,862 6,070 6,399 6,886
Book Value per Share		 $34.13 $38.76 $35.58 $37.47 $36.72 $39.04 $38.16 $38.68 $40.10 $41.23 $41.69
Tangible Book Value per Share		 $32.41 $37.10 $33.74 $35.65 $34.63 $36.93 $36.10 $36.44 $37.94 $39.15 $39.57
Total Capital		 3,686 4,216 4,213 4,303 4,486 4,637 4,685 5,018 5,090 5,238 5,374
Total Debt		 772 772 772 672 823 742 742 1,023 943 942 942
Total Long-Term Debt		 772 772 772 672 741 742 742 743 743 942 942
Net Debt		 605 111 590 428 805 585 614 996 918 853 890
Capital Expenditures (CapEx)		 65 40 48 50 34 48 24 30 32 25 42
Net Nonoperating Expense (NNE)		 0.00 5.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 772 772 772 672 823 742 742 1,023 943 942 942
Total Depreciation and Amortization (D&A)		 16 18 19 20 22 23 24 23 26 25 25
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.68 $0.40 $0.37 $0.37 $0.78 $0.48 $0.90 $1.00 $1.54 $0.66 $0.54
Adjusted Weighted Average Basic Shares Outstanding		 83.17M 88.87M 96.29M 97.56M 95.52M 100.77M 102.89M 102.91M 102.46M 104.91M 106.55M
Adjusted Diluted Earnings per Share		 $0.68 $0.40 $0.37 $0.37 $0.78 $0.47 $0.90 $1.00 $1.54 $0.66 $0.54
Adjusted Weighted Average Diluted Shares Outstanding		 83.37M 89.44M 96.41M 97.87M 95.84M 101.05M 103.01M 103.14M 102.72M 105.22M 106.67M
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		 88.00M 96.70M 96.90M 99.74M 99.78M 103.32M 103.30M 103.40M 104.18M 106.31M 108.97M
Normalized Net Operating Profit after Tax (NOPAT)		 40 29 25 26 53 34 65 72 111 49 40
Normalized NOPAT Margin		 40.26% 30.87% 26.88% 26.43% 39.36% 29.15% 40.46% 42.19% 46.48% 33.96% 30.96%
Pre Tax Income Margin		 57.42% 38.51% 38.36% 37.74% 56.21% 41.65% 57.65% 60.22% 66.40% 48.49% 44.22%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.84 0.00 6.47 7.48 6.75 6.07 13.25 12.36 16.61 7.73 6.91
NOPAT to Interest Expense		 4.40 0.00 6.47 7.48 7.25 6.07 13.25 12.36 16.61 7.73 6.91
EBIT Less CapEx to Interest Expense		 -1.13 0.00 -2.28 -2.81 3.50 0.03 9.87 8.77 13.28 4.99 1.86
NOPAT Less CapEx to Interest Expense		 -0.56 0.00 -2.28 -2.81 4.00 0.03 9.87 8.77 13.28 4.99 1.86
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 89.70% 87.80% 96.79% 99.14% 94.84% 94.01% 75.51% 62.02% 50.59% 49.29% 55.02%
Augmented Payout Ratio		 94.02% 92.92% 101.92% 105.98% 99.74% 99.59% 79.74% 64.11% 52.42% 50.77% 57.13%

Financials Breakdown Chart

Key Financial Trends

Terreno Realty’s balance sheet has expanded substantially. Total assets increased from $3.11 billion in Q3 2022 to $5.71 billion in Q2 2026, led by growth in net premises and equipment from $2.87 billion to $5.08 billion. Total common equity also rose from $2.15 billion to $4.43 billion, while total liabilities increased more moderately from $956.6 million to $1.28 billion.

Operating cash flow remains positive, but earnings are volatile. Net cash from operating activities improved from $45.8 million in Q3 2022 to $74.9 million in Q2 2026. Revenue rose from $70.0 million to $130.2 million over the same comparison, while net income attributable to common shareholders increased from $22.3 million to $57.3 million. However, recent results have fluctuated: Q2 2026 revenue and common-shareholder net income declined from $143.2 million and $69.1 million, respectively, in Q1 2026.

The company continues to fund property expansion and investment activity through a combination of operating cash flow, debt and equity issuance. Investors should monitor the effect of higher interest costs and continued share issuance, as weighted-average diluted shares increased from 75.6 million in Q3 2022 to 106.7 million in Q2 2026. The supplied historical figures also include several restated periods, so comparisons should be interpreted with some caution.

  • Asset growth supports long-term expansion: Total assets increased approximately 84% from Q3 2022 to Q2 2026, with net premises and equipment rising about 77%.
  • Improved operating cash generation: Quarterly operating cash flow reached $74.9 million in Q2 2026, up from $45.8 million in Q3 2022 and $61.9 million in Q1 2026.
  • Higher recurring revenue base: Total revenue increased from $70.0 million in Q3 2022 to $130.2 million in Q2 2026, despite quarter-to-quarter volatility.
  • Lower balance-sheet leverage: Long-term debt increased only about 22% from Q3 2022 to Q2 2026, versus roughly 84% growth in total assets. Long-term debt declined to approximately 16.5% of assets from 24.8%.
  • Dividend growth: Cash dividends per share increased from $0.40 in Q3 2022 to $0.52 in Q1 and Q2 2026.
  • Investment gains materially affect reported earnings: Net realized and unrealized investment gains ranged from zero in several earlier periods to $109.5 million in Q4 2025 and $12.0 million in Q2 2026, creating substantial earnings variability.
  • Cash balances are volatile: Cash and equivalents ranged from $10.2 million in Q3 2022 to $649.6 million in Q1 2024 before ending at $51.2 million in Q2 2026.
  • Recent operating slowdown: Q2 2026 revenue fell about 9% sequentially, while net income attributable to common shareholders declined roughly 17% and diluted EPS fell from $0.66 to $0.54.
  • Rising interest burden: Quarterly interest expense increased from zero in Q3 2022 to $8.3 million in Q2 2026, and net interest expense remained negative at $6.6 million.
  • Shareholder dilution: Weighted-average diluted shares outstanding increased approximately 41% from Q3 2022 to Q2 2026. The company issued $132.4 million of common equity in Q2 2026 after issuing $135.0 million in Q1.
08/31/26 05:50 AM ETAI Generated. May Contain Errors.

Terreno Realty Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Terreno Realty's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Terreno Realty's net income appears to be on an upward trend, with a most recent value of $402.99 million in 2025, rising from $14.60 million in 2015. The previous period was $184.50 million in 2024. See Terreno Realty's forecast for analyst expectations on what's next for the company.

Over the last 10 years, Terreno Realty's total revenue changed from $95.91 million in 2015 to $687.29 million in 2025, a change of 616.6%.

Terreno Realty's total liabilities were at $1.24 billion at the end of 2025, a 12.1% increase from 2024, and a 196.3% increase since 2015.

In the past 10 years, Terreno Realty's cash and equivalents has ranged from $14.21 million in 2016 to $204.40 million in 2021, and is currently $25.02 million as of their latest financial filing in 2025.

Over the last 10 years, Terreno Realty's book value per share changed from 15.86 in 2015 to 40.10 in 2025, a change of 152.8%.


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Financial statements for NYSE:TRNO last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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