Terreno Realty Corporation (TRNO) P/E Ratio History
UndervaluedTrading at 20.6x vs 5Y avg 30.8x · 25th percentile · Below historical baseline · Data 2012–2026
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P/E Ratio Analysis
As of November 8, 2026, Terreno Realty Corporation (TRNO) trades at a price-to-earnings ratio of 20.6x, with a stock price of $66.41 and trailing twelve-month earnings per share of $3.23.
The current P/E is 33% below its 5-year average of 30.8x. Over the past five years, TRNO's P/E has ranged from a low of 15.1x to a high of 72.9x, placing the current valuation at the 25th percentile of its historical range.
Compared to the Real Estate sector median P/E of 22.6x, TRNO is roughly in line with its sector peers. The sector includes 156 companies with P/E ratios ranging from 0.0x to 180.0x.
The PEG ratio of 0.58 (P/E divided by 104% EPS growth) suggests the stock may be undervalued relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, TRNO trades roughly in line with the S&P 500 median P/E of 21.8x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our TRNO DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
TRNO Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
TRNO P/E vs Peers
Logistics Warehouse REITs peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $118B | 28.9 | 2.28 | -12% | |
| $10B | 33.0 | 2.74 | +5% | |
| $7B | 19.9 | 4.87 | -14% | |
| $7B | 26.2 | 12.88 | +40%Best | |
| $2.8T | 21.0 | 0.75 | +30% | |
| $92B | 20.9 | 0.62Best | -3% | |
| $74B | 16.6Lowest | - | +10% | |
| $21B | 41.5 | 1.50 | -18% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
TRNO Historical P/E Data (2012–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q3 | Sep 30 2026 | $64.55 | $3.34 | 19.3x | -64% |
| FY2026 Q2 | - | $64.77 | $3.72 | 17.4x | -68% |
| FY2026 Q1 | - | $61.42 | $4.08 | 15.1x | -72% |
| FY2025 Q4 | Dec 31 2025 | $58.71 | $3.89 | 15.1x | -72% |
| FY2025 Q3 | - | $56.75 | $3.13 | 18.1x | -67% |
| FY2025 Q2 | Jun 30 2025 | $56.07 | $2.50 | 22.4x | -59% |
| FY2025 Q1 | Mar 31 2025 | $63.22 | $1.97 | 32.1x | -41% |
| FY2024 Q4 | - | $59.14 | $1.90 | 31.1x | -43% |
| FY2024 Q3 | Sep 30 2024 | $66.83 | $1.79 | 37.3x | -31% |
| FY2024 Q2 | Jun 30 2024 | $59.18 | $1.78 | 33.2x | -39% |
| FY2024 Q1 | Mar 31 2024 | $66.40 | $1.89 | 35.1x | -35% |
| FY2023 Q4 | Dec 31 2023 | $62.67 | $1.78 | 35.2x | -35% |
| FY2023 Q3 | Sep 30 2023 | $56.80 | $1.90 | 29.9x | -45% |
| FY2023 Q2 | Jun 30 2023 | $60.10 | $1.75 | 34.3x | -37% |
| FY2023 Q1 | Mar 31 2023 | $64.60 | $2.55 | 25.3x | -53% |
| FY2022 Q4 | Dec 31 2022 | $56.87 | $2.45 | 23.2x | -57% |
| FY2022 Q3 | Sep 30 2022 | $52.99 | $2.06 | 25.7x | -52% |
| FY2022 Q2 | - | $55.73 | $2.15 | 25.9x | -52% |
| FY2022 Q1 | - | $74.05 | $1.12 | 66.1x | +22% |
| FY2021 Q4 | Dec 31 2021 | $85.29 | $1.17 | 72.9x | +35% |
| FY2021 Q3 | - | $63.23 | $0.93 | 68.0x | +26% |
| FY2021 Q2 | Jun 30 2021 | $64.52 | $0.96 | 67.2x | +24% |
| FY2021 Q1 | Mar 31 2021 | $57.77 | $1.16 | 49.8x | -8% |
| FY2020 Q4 | - | $58.51 | $1.11 | 52.7x | -3% |
| FY2020 Q3 | Sep 30 2020 | $54.76 | $1.13 | 48.5x | -10% |
| FY2020 Q2 | - | $52.64 | $1.02 | 51.6x | -5% |
| FY2020 Q1 | - | $51.75 | $0.73 | 70.9x | +31% |
| FY2019 Q4 | - | $54.14 | $0.79 | 68.5x | +27% |
| FY2019 Q3 | Sep 30 2019 | $51.09 | $1.00 | 51.1x | -6% |
| FY2019 Q2 | Jun 30 2019 | $49.04 | $0.95 | 51.6x | -5% |
| FY2019 Q1 | Mar 31 2019 | $42.04 | $1.14 | 36.9x | -32% |
| FY2018 Q4 | Dec 31 2018 | $35.17 | $1.07 | 32.9x | -39% |
| FY2018 Q3 | Sep 30 2018 | $37.70 | $0.81 | 46.5x | -14% |
| FY2018 Q2 | Jun 30 2018 | $37.67 | $1.00 | 37.7x | -30% |
| FY2018 Q1 | Mar 31 2018 | $34.51 | $0.94 | 36.7x | -32% |
| FY2017 Q4 | Dec 31 2017 | $35.06 | $0.86 | 40.8x | -25% |
| FY2017 Q3 | Sep 30 2017 | $36.18 | $0.79 | 45.9x | -15% |
| FY2017 Q2 | Jun 30 2017 | $33.66 | $0.48 | 70.4x | +30% |
| FY2017 Q1 | Mar 31 2017 | $28.00 | $0.23 | 122.8x | +127% |
| FY2016 Q4 | Dec 31 2016 | $28.49 | $0.28 | 102.5x | +89% |
| FY2016 Q3 | Sep 30 2016 | $27.51 | $0.18 | 152.0x | +181% |
| FY2016 Q2 | - | $25.87 | $0.21 | 122.6x | +126% |
| FY2016 Q1 | - | $23.45 | $0.40 | 58.5x | +8% |
| FY2015 Q4 | - | $22.62 | $0.23 | 97.8x | +81% |
| FY2015 Q3 | Sep 30 2015 | $19.64 | $0.31 | 63.1x | +16% |
| FY2015 Q2 | - | $19.70 | $0.31 | 63.3x | +17% |
| FY2015 Q1 | - | $22.80 | $0.14 | 161.2x | +198% |
| FY2014 Q4 | Dec 31 2014 | $20.63 | $0.20 | 102.5x | +89% |
| FY2014 Q3 | - | $18.83 | $0.33 | 57.1x | +5% |
| FY2014 Q2 | Jun 30 2014 | $19.33 | $0.27 | 71.6x | +32% |
| FY2014 Q1 | Mar 31 2014 | $18.91 | $0.25 | 75.6x | +40% |
| FY2013 Q4 | - | $17.70 | $0.20 | 88.5x | +63% |
| FY2013 Q3 | Sep 30 2013 | $17.76 | $0.50 | 35.5x | -34% |
| FY2013 Q2 | Jun 30 2013 | $18.53 | $0.47 | 39.4x | -27% |
| FY2013 Q1 | Mar 31 2013 | $17.98 | $0.45 | 40.0x | -26% |
| FY2012 Q4 | Dec 31 2012 | $15.44 | $0.44 | 35.2x | -35% |
Average P/E for displayed period: 54.1x
TRNO Chart Terminal
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
TRNO — Frequently Asked Questions
Quick answers to the most common questions about buying TRNO stock.
What is TRNO's P/E ratio?
Terreno Realty Corporation (TRNO) trailing twelve-month P/E ratio is 20.6x, based on TTM diluted EPS of $3.23. The 5-year average P/E is 30.8x and the historical range spans 15.1x to 72.9x.
Is TRNO stock overvalued or undervalued?
TRNO trades at 20.6x P/E, below its 5-year average of 30.8x. At the 25th percentile of its historical range (15.1x–72.9x), the stock is priced at a discount to its own history.
Is TRNO stock expensive?
No, TRNO is not expensive on a historical basis. The current P/E of 20.6x is below the 5-year average of 30.8x and sits at the 25th percentile of its valuation range.
What is TRNO's historical P/E range?
Over the past 5 years, TRNO's P/E ratio has ranged from 15.1x to 72.9x, with a median of 29.9x and an average of 30.8x. The current P/E of 20.6x places the stock at the 25th percentile of this range. Full historical data spans 2012–2026.
How does TRNO's P/E compare to the S&P 500?
TRNO trades at 20.6x P/E versus the S&P 500 median of 21.8x. The 6% discount to the market suggests lower growth expectations or perceived higher risk.
How does TRNO's valuation compare to Real Estate peers?
Terreno Realty Corporation P/E of 20.6x compares to the Real Estate sector median of 22.6x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is TRNO's PEG ratio?
TRNO PEG ratio is 0.58, based on a P/E of 20.6x and EPS growth of 104.2%. A PEG below 1.0 indicates the valuation is supported by the earnings growth rate — typically considered attractive.
What is TRNO's earnings yield?
TRNO earnings yield is 4.86%, the inverse of its 20.6x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.