TERRENO REALTY CORP (TRNO)
US88146M1018 - REIT
Overall TRNO gets a fundamental rating of 5 out of 10. We evaluated TRNO against 127 industry peers in the Diversified REITs industry. TRNO scores excellent on profitability, but there are some minor concerns on its financial health. While showing a medium growth rate, TRNO is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year TRNO was profitable.
TRNO had a positive operating cash flow in the past year.
In the past 5 years TRNO has always been profitable.
In the past 5 years TRNO always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of TRNO (3.68%) is better than 84.80% of its industry peers.
Looking at the Return On Equity, with a value of 4.74%, TRNO is in the better half of the industry, outperforming 68.00% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 2.52%, TRNO is in line with its industry, outperforming 47.20% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for TRNO is in line with the industry average of 2.97%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.68% | ||
| ROE | 4.74% | ||
| ROIC | 2.52% |
ROA(3y)4.35%
ROA(5y)3.88%
ROE(3y)6.08%
ROE(5y)5.37%
ROIC(3y)2.7%
ROIC(5y)2.6%
1.3 Margins
Looking at the Profit Margin, with a value of 48.93%, TRNO belongs to the top of the industry, outperforming 96.80% of the companies in the same industry.
TRNO's Profit Margin has improved in the last couple of years.
TRNO's Operating Margin of 41.10% is amongst the best of the industry. TRNO outperforms 87.20% of its industry peers.
In the last couple of years the Operating Margin of TRNO has grown nicely.
The Gross Margin of TRNO (75.57%) is better than 72.00% of its industry peers.
TRNO's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 41.1% | ||
| PM (TTM) | 48.93% | ||
| GM | 75.57% |
OM growth 3Y3.99%
OM growth 5Y4.86%
PM growth 3Y3.12%
PM growth 5Y2.36%
GM growth 3Y0.82%
GM growth 5Y0.52%
2. Health
2.1 Basic Checks
TRNO has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, TRNO has more shares outstanding
TRNO has more shares outstanding than it did 5 years ago.
The debt/assets ratio for TRNO has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 3.72 indicates that TRNO is not in any danger for bankruptcy at the moment.
TRNO has a better Altman-Z score (3.72) than 97.60% of its industry peers.
A Debt/Equity ratio of 0.22 indicates that TRNO is not too dependend on debt financing.
The Debt to Equity ratio of TRNO (0.22) is better than 96.80% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.22 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 3.72 |
ROIC/WACC0.3
WACC8.3%
2.3 Liquidity
A Current Ratio of 4.60 indicates that TRNO has no problem at all paying its short term obligations.
With an excellent Current ratio value of 4.60, TRNO belongs to the best of the industry, outperforming 92.00% of the companies in the same industry.
A Quick Ratio of 4.60 indicates that TRNO has no problem at all paying its short term obligations.
With an excellent Quick ratio value of 4.60, TRNO belongs to the best of the industry, outperforming 92.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 4.6 | ||
| Quick Ratio | 4.6 |
3. Growth
3.1 Past
The earnings per share for TRNO have decreased strongly by -27.65% in the last year.
TRNO shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.76% yearly.
TRNO shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 16.44%.
Measured over the past years, TRNO shows a quite strong growth in Revenue. The Revenue has been growing by 16.36% on average per year.
EPS 1Y (TTM)-27.65%
EPS 3Y23.74%
EPS 5Y10.76%
EPS growth Q2Q37.93%
Revenue 1Y (TTM)16.44%
Revenue growth 3Y20.08%
Revenue growth 5Y16.36%
Revenue growth Q2Q13.9%
3.2 Future
The Earnings Per Share is expected to decrease by -0.66% on average over the next years.
The Revenue is expected to grow by 15.77% on average over the next years. This is quite good.
EPS Next Y-15.57%
EPS Next 2Y-3.99%
EPS Next 3Y-0.66%
EPS Next 5YN/A
Revenue Next Year14.52%
Revenue Next 2Y13.09%
Revenue Next 3Y15.77%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 30.31, which means the current valuation is very expensive for TRNO.
Compared to the rest of the industry, the Price/Earnings ratio of TRNO is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 28.83. TRNO is around the same levels.
With a Price/Forward Earnings ratio of 34.90, TRNO can be considered very expensive at the moment.
69.60% of the companies in the same industry are more expensive than TRNO, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.47, TRNO is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.31 | ||
| Fwd PE | 34.9 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, TRNO is valued more expensive than 91.20% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 26.78 |
4.3 Compensation for Growth
TRNO has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)2.82
EPS Next 2Y-3.99%
EPS Next 3Y-0.66%
5. Dividend
5.1 Amount
TRNO has a Yearly Dividend Yield of 3.18%.
TRNO's Dividend Yield is slightly below the industry average, which is at 5.70.
TRNO's Dividend Yield is a higher than the S&P500 average which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.18% |
5.2 History
On average, the dividend of TRNO grows each year by 13.41%, which is quite nice.
TRNO has paid a dividend for at least 10 years, which is a reliable track record.
TRNO has decreased its dividend in the last 3 years.
Dividend Growth(5Y)13.41%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
TRNO pays out 88.21% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of TRNO has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP88.21%
EPS Next 2Y-3.99%
EPS Next 3Y-0.66%
TERRENO REALTY CORP
NYSE:TRNO (5/16/2024, 7:21:53 PM)
After market: 57.9 0 (0%)57.9
+1.27 (+2.24%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap5.59B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.18% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
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EPS beat(4)
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EPS beat(8)
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EPS beat(12)
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EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
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Revenue beat(4)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.31 | ||
| Fwd PE | 34.9 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)2.82
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.68% | ||
| ROE | 4.74% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 41.1% | ||
| PM (TTM) | 48.93% | ||
| GM | 75.57% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.22 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 4.6 | ||
| Quick Ratio | 4.6 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-27.65%
EPS 3Y23.74%
EPS 5Y
EPS growth Q2Q
EPS Next Y-15.57%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)16.44%
Revenue growth 3Y20.08%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y