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Terreno Realty Corp key statistics and ratios

In fiscal 2025, Terreno Realty Corp had return on equity of 10.3%, a net margin of 84.6% and debt equal to 22.9% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin13.9%40.1%41.7%32.5%42.7%39.3%71.7%46.8%48.2%84.6%77.3%
Free-cash-flow margin20.6%31.8%32.1%36.6%37.2%36.5%27.7%39.1%48.7%43.8%43.1%
Return on equity1.9%5.8%5.6%4.0%5.1%4.8%9.2%5.9%5.6%10.3%9.1%
Return on assets1.2%3.7%3.8%2.8%3.8%3.4%6.5%4.3%4.3%7.9%7.0%
Asset turnover0.080.090.090.090.090.090.090.090.090.090.09
Debt to equity51.5%45.3%37.3%32.4%29.0%35.2%34.8%26.6%22.7%22.9%21.4%
Capital spending as % of revenue24.8%20.7%19.1%18.8%16.9%23.1%24.1%16.4%12.1%13.3%13.9%
Free cash flow ÷ net income147.5%79.3%76.8%112.8%87.0%92.7%38.7%83.6%101.0%51.7%55.8%
Dividends ÷ net income219.5%78.9%81.3%114.5%93.7%97.0%54.2%89.7%94.8%50.6%55.0%
Dividends and buybacks ÷ free cash flow155.7%107.6%113.8%107.8%121.9%105.3%141.6%108.5%95.7%99.4%100.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 4 checks passed · June 30, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $51m of cash against $942m of debt.
  • Debt below 40% of shareholders' equity Debt is 21% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 35% to 21% over five years.
  • A year's operating cash flow covers at least 20% of debt $287m of operating cash flow against $942m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Terreno Realty Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

63 /100

Moderate moat

How hard Terreno Realty's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 3 / 20

    Net income has been a median 3.6% of total assets over 10 years.

  • Durability 20 / 20

    Net margin has been a median 45.8%; its worst year was 34.9%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 9 of 9 years, at a median 37.4% of revenue.

  • Discipline 8 / 20

    The diluted share count rose 51.8% over five years; stock-based pay has been a median 4.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Terreno Realty Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Terreno Realty Corp.