BXP, Inc. (BXP) vs Terreno Realty Corporation (TRNO)
A side-by-side comparison of BXP, Inc. and Terreno Realty Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 4, 2026. Differences are shown without an overall score or investment verdict.
Total return — BXP vs TRNO
growth of $100 · dividends reinvested · last 10yBXP vs TRNO: by the numbers
- •BXP is the larger company ($9.64B vs $6.86B market cap).
- •TRNO converts more revenue to profit (77.27% vs 8.44% net margin).
- •TRNO grew revenue faster over the past five years (20.25% vs 4.77% CAGR).
- •BXP pays the higher dividend yield (4.63% vs 3.22%).
Metrics side by side
Valuation
| Metric | BXP | TRNO |
|---|---|---|
| P/E ratio | 32.50 | 17.35 |
| Forward P/E | 28.47 | 30.59 |
| PEG ratio | N/A | 0.49 |
| P/S ratio | 2.74 | 13.64 |
| P/B ratio | 1.87 | 1.55 |
| EV / EBITDA | 11.74 | 23.58 |
| FCF yield | 3.74% | 2.70% |
For REITs like BXP, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Terreno Realty Corporation, GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | BXP | TRNO |
|---|---|---|
| Gross margin | 60.56% | 75.84% |
| Operating margin | 55.71% | 41.42% |
| Net margin | 8.44% | 77.27% |
| ROE | 5.75% | 8.77% |
| ROIC | 4.89% | 3.65% |
Dividends
| Metric | BXP | TRNO |
|---|---|---|
| Dividend yield | 4.63% | 3.22% |
| Payout ratio | 150.54% | 55.91% |
BXP, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Terreno Realty Corporation's payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | BXP | TRNO |
|---|---|---|
| Revenue CAGR (5Y) | 4.77% | 20.25% |
| EPS CAGR (5Y) | -20.68% | 35.52% |
| FCF CAGR (5Y) | -15.57% | 18.95% |
| Total return CAGR (5Y) | -6.86% | 3.17% |
Frequently asked
- Which has grown faster, BXP or TRNO?
- Over the past five years, TRNO grew revenue faster — BXP at a 4.77% CAGR versus TRNO at 20.25%.
- Does BXP or TRNO pay a bigger dividend?
- BXP yields 4.63% and TRNO yields 3.22% based on trailing dividends and the latest price.
- Is BXP or TRNO more profitable?
- TRNO runs the higher net margin — BXP at 8.44% versus TRNO at 77.27%.
- How have BXP and TRNO total returns compared?
- Over the past 10 years, BXP delivered -3.87% and TRNO delivered 11.87% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
BXP & Terreno Realty appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 4, 2026.