Terreno RealtyTRNO -0.38%93 Net Margin % is 55.80% as of Mar. 2026, which is 32% above its 10-year median of 42.22. GuruFocus rates TRNO with a GF Score™ of 93/100 and a GF Value™ of $71.22 (Fairly Valued). The stock has 5 warning signs investors should review. Among 928 REITs companies, Terreno Realty ranks better than 75% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Terreno Realty's Net Income for the
three
months ended in Mar. 2026 was $69.4 Mil. Terreno Realty's Revenue for the
three
months ended in Mar. 2026 was $124.4 Mil. Therefore, Terreno Realty's net margin for the quarter that ended in Mar. 2026 was 55.80%.
The historical rank and industry rank for Terreno Realty's Net Margin % or its related term are showing as below:
TRNO'
s Net Margin % Range Over the Past 10 Years
Min: 13.94 Med: 42.22 Max: 86.52
Current: 86.52
TRNO's Net Margin % is ranked better than 75% of 928
companies
in the REITs industry
Industry Median: 45.23
vs TRNO: 86.52
Terreno Realty (NYSE:TRNO) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Terreno Realty Net Margin % Related Terms
Terreno Realty Net Margin % Historical Data
* Premium members only.
The historical data trend for Terreno Realty's Net Margin % 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.
For the REIT - Industrial subindustry, Terreno Realty's Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Terreno Realty's Net Margin % distribution charts can be found below:
* The bar in red indicates where Terreno Realty's Net Margin % falls into.
* 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.
Terreno Realty (TRNO) has a Net Margin % of 55.80% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Terreno Realty and its competitors. This is 32% above median its historical median of 42.22. Over the past decade, Terreno Realty's Net Margin % has ranged from 13.94 to 86.52. According to the industry distribution chart, Terreno Realty ranks #232 out of 928 companies in the REITs industry, placing it in the top 25%.
Is Terreno Realty's Net Margin % too high?
Terreno Realty's current Net Margin % of 55.80% is 32% above median its 10-year median of 42.22. Over the past 10 years, this metric has ranged from a low of 13.94 to a high of 86.52. The REITs industry median Net Margin % is 45.23. Terreno Realty's value of 55.80% is 23.4% above this industry median. Based on the distribution chart, Terreno Realty ranks #232 out of 928 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Terreno Realty has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Terreno Realty's Net Margin % compare to STAG and REXR?
According to the REITs industry distribution chart, Terreno Realty ranks #232 out of 928 companies for Net Margin %. This places Terreno Realty in the top 25% of its industry — outperforming the majority of peers. The industry median Net Margin % is 45.23. Terreno Realty's value of 55.80% is 23.4% above this benchmark. Historically, Terreno Realty's own Net Margin % has ranged from 13.94 to 86.52 over the past decade. While the company's 10-year median is 42.22 vs. the industry median of 45.23, 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 Net Margin % for a REITs company?
The median Net Margin % among REITs companies is 45.23, based on 928 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Terreno Realty's current Net Margin % of 55.80% is 23.4% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Terreno Realty and its competitors. For the REITs industry, the median Net Margin % is 45.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Terreno Realty's current Net Margin % is 55.80%, which is 32% above median its own 10-year median of 42.22. 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 $71.22, compared to a current price of $65.19 — trading 8.5% below its estimated fair value. The current Net Margin % is 55.80%, which is 32% above median its 10-year median of 42.22 and 23.4% above the REITs industry median of 45.23. Terreno Realty's overall GF Score™ is 93/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Terreno Realty (TRNO), the current Net Margin % is 55.80% as of Mar. 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 undervalued.
The current stock price of $65.19 is trading 8.5% below its estimated GF Value™ of $71.22.
GuruFocus considers Terreno Realty to be Fairly Valued.
Key valuation signals for TRNO:
Net Margin %: 55.80% (32% above median its 10-year median of 42.22)
GF Value™: $71.22 vs. price of $65.19 (8.5% below fair value)
Industry Position: 23.4% above the REITs median (#232 of 928)
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.
93GF Score
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