TRNOTerreno Realty Corp
Real Estate
- Revenue
- $476M
- 25% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $7.1B
- Employees
- —
- Net debt / EBITDA
- —
- $891M net debt
- AI in 10-K
- 1.2
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes67% of net incomeCash flow under 80% of net income
- Dilutive SBCNo4% of revenueOver 10% of revenue
- Payouts exceed cash flowNo76% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo94% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.2 per 10K words · 37th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$7.1B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$2M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $222M | $276M | $324M | $383M | $476M | 25% |
| Net income | $87M | $198M | $151M | $184M | $403M | 118% |
| Operating cash flow | $132M | $143M | $180M | $233M | $272M | 17% |
| Stock-based comp | $10M | $10M | $13M | $15M | $18M | 19% |
| Buybacks | $582K | $1M | $2M | $3M | $3M | 1.7% |
| Dividends | $85M | $107M | $136M | $175M | $204M | 17% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $2M · 5
- Net
- −$2M
Pay vs performance
No pay-versus-performance disclosure yet.