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Terreno RealtyTRNO -2.27%92 Cyclically Adjusted PS Ratio is 18.99 as of Jul. 22, 2026, which is 3% below its 10-year median of 19.54. GuruFocus rates TRNO with a GF Score™ of 92/100 and a GF Value™ of $71.48 (Fairly Valued). The stock has 7 warning signs investors should review. Among 552 REITs companies, Terreno Realty ranks worse than 96.2% on this metric.
The historical rank and industry rank for Terreno Realty's Cyclically Adjusted PS Ratio or its related term are showing as below:
TRNO'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 14.77 Med: 19.54 Max: 30.03
Current: 19.41
During the past years, Terreno Realty's highest Cyclically Adjusted PS Ratio was 30.03. The lowest was 14.77. And the median was 19.54.
TRNO's Cyclically Adjusted PS Ratio is ranked worse than 96.2% of 552
companies
in the REITs industry
Industry Median: 5.905
vs TRNO: 19.41
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
Terreno Realty's adjusted revenue per share data for the three months ended in Mar. 2026 was $1.183. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $3.85 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Terreno Realty (NYSE:TRNO) Cyclically Adjusted PS Ratio Explanation
Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.
Terreno Realty Cyclically Adjusted PS Ratio Related Terms
Terreno Realty Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Terreno Realty's Cyclically Adjusted PS Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TRNO vs STAG, REXR, FR: Cyclically Adjusted PS Ratio Comparison
For the REIT - Industrial subindustry, Terreno Realty's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Terreno Realty Cyclically Adjusted PS Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Terreno Realty's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Terreno Realty's Cyclically Adjusted PS Ratio falls into.
Terreno Realty Cyclically Adjusted PS Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.
Terreno Realty's Cyclically Adjusted PS Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PS Ratio of 18.99 mean?
Terreno Realty (TRNO) has a Cyclically Adjusted PS Ratio of 18.99 as of Jul. 22, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Terreno Realty and its competitors. This is near median its historical median of 19.54. Over the past decade, Terreno Realty's Cyclically Adjusted PS Ratio has ranged from 14.77 to 30.03. According to the industry distribution chart, Terreno Realty ranks #531 out of 552 companies in the REITs industry, placing it in the top 96.2%.
Is Terreno Realty's Cyclically Adjusted PS Ratio too high?
Terreno Realty's current Cyclically Adjusted PS Ratio of 18.99 is near median its 10-year median of 19.54. Over the past 10 years, this metric has ranged from a low of 14.77 to a high of 30.03. The REITs industry median Cyclically Adjusted PS Ratio is 5.91. Terreno Realty's value of 18.99 is 221.6% above this industry median. Based on the distribution chart, Terreno Realty ranks #531 out of 552 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Terreno Realty has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Terreno Realty's Cyclically Adjusted PS Ratio compare to STAG and REXR?
According to the REITs industry distribution chart, Terreno Realty ranks #531 out of 552 companies for Cyclically Adjusted PS Ratio. This places Terreno Realty in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 5.91. Terreno Realty's value of 18.99 is 221.6% above this benchmark. Historically, Terreno Realty's own Cyclically Adjusted PS Ratio has ranged from 14.77 to 30.03 over the past decade. While the company's 10-year median is 19.54 vs. the industry median of 5.91, Terreno Realty has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a REITs company?
The median Cyclically Adjusted PS Ratio among REITs companies is 5.91, based on 552 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Terreno Realty's current Cyclically Adjusted PS Ratio of 18.99 is 221.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Terreno Realty and its competitors. For the REITs industry, the median Cyclically Adjusted PS Ratio is 5.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Terreno Realty's current Cyclically Adjusted PS Ratio is 18.99, which is near median its own 10-year median of 19.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Terreno Realty stock overvalued right now?
Based on GuruFocus' analysis, Terreno Realty (TRNO) is currently considered Fairly Valued. The stock's GF Value™ is $71.48, compared to a current price of $73.10 — trading 2.3% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 18.99, which is near median its 10-year median of 19.54 and 221.6% above the REITs industry median of 5.91. Terreno Realty's overall GF Score™ is 92/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Terreno Realty (TRNO), the current Cyclically Adjusted PS Ratio is 18.99 as of Jul. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Terreno Realty (TRNO) Overvalued in 2026?
Based on GuruFocus' analysis, Terreno Realty stock appears to be overvalued.
The current stock price of $73.10 is trading 2.3% above its estimated GF Value™ of $71.48.
GuruFocus considers Terreno Realty to be Fairly Valued.
Key valuation signals for TRNO:
Cyclically Adjusted PS Ratio: 18.99 (near median its 10-year median of 19.54)
GF Value™: $71.48 vs. price of $73.10 (2.3% above fair value)
Industry Position: 221.6% above the REITs median (#531 of 552)
No single metric tells the full story. See the TRNO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Terreno Realty Corp is a real estate investment trust engaged in acquiring, owning, and operating industrial real estate in six coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The company invests in several types of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development), transshipment, and improved land.
92GF Score
Get the complete analysis for TRNO
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