Is FR or TRNO cheaper?

On trailing earnings, TRNO is cheaper: FR trades at a 23.95 P/E and TRNO at 15.77.

Which has grown faster, FR or TRNO?

Over the past five years, TRNO grew revenue faster — FR at a 10.42% CAGR versus TRNO at 20.57%.

Does FR or TRNO pay a bigger dividend?

FR yields 2.97% and TRNO yields 3.19% based on trailing dividends and the latest price.

Is FR or TRNO more profitable?

TRNO runs the higher net margin — FR at 45.99% versus TRNO at 86.52%.

Which has been the better investment, FR or TRNO?

Over the past 10-year, TRNO delivered the higher annualized total return — FR at 11.67% versus TRNO at 12.73%. Past performance doesn't predict future results.

First Industrial Realty Trust, Inc. (FR) vs Terreno Realty Corporation (TRNO)

TRNO leads on 10 of 15 compared metrics.

A side-by-side comparison of First Industrial Realty Trust, Inc. and Terreno Realty Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 20, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

First Industrial Realty Trust, Inc.

$8.19B

$61.80Real Estate

TRNO

Terreno Realty Corporation

$6.84B

$64.35Real Estate

Total return — FR vs TRNO

growth of $100 · last 16y

FR +1176.9%TRNO +245.0%FR compounded faster

FR TRNO

FR vs TRNO: by the numbers

•FR is the larger company ($8.19B vs $6.84B market cap).
•TRNO trades at the lower earnings multiple (15.77 vs 23.95 P/E).
•TRNO converts more revenue to profit (86.52% vs 45.99% net margin).
•TRNO grew revenue faster over the past five years (20.57% vs 10.42% CAGR).
•TRNO pays the higher dividend yield (3.19% vs 2.97%).

Which is better, FR or TRNO?

Metric tally: FR 5 · TRNO 10

It depends on what you're optimizing for:

ValueTRNO(lower P/E)

GrowthTRNO(faster 5Y revenue CAGR)

IncomeTRNO(higher dividend yield)

QualityFR(higher ROIC)

Metrics side by side

Valuation

Metric	FR	TRNO
P/E ratio	23.95	15.77●
Forward P/E	32.65●	38.30
P/S ratio	11.00●	13.81
P/B ratio	2.97	1.58●
PEG ratio	5.84	0.14●
EV / EBITDA	16.36	13.29●

Profitability

Metric	FR	TRNO
Gross margin	47.03%	63.89%●
Operating margin	38.28%	40.81%●
Net margin	45.99%	86.52%●
ROE	12.41%●	9.88%
ROIC	5.34%●	3.66%

Dividends

Metric	FR	TRNO
Dividend yield	2.97%	3.19%●
Payout ratio	98.13%	52.16%

Growth (annualized)

Metric	FR	TRNO
Revenue CAGR (5Y)	10.42%	20.57%●
EPS CAGR (5Y)	4.10%	35.52%●
Total return CAGR (5Y)	6.32%●	2.61%

Frequently asked

Which is better, FR or TRNO?: It depends on your goal. value: TRNO (lower P/E); growth: TRNO (faster 5Y revenue CAGR); income: TRNO (higher dividend yield); quality: FR (higher ROIC). Across all compared metrics, TRNO leads 10 to 5.
Is FR or TRNO cheaper?: On trailing earnings, TRNO is cheaper: FR trades at a 23.95 P/E and TRNO at 15.77.
Which has grown faster, FR or TRNO?: Over the past five years, TRNO grew revenue faster — FR at a 10.42% CAGR versus TRNO at 20.57%.
Does FR or TRNO pay a bigger dividend?: FR yields 2.97% and TRNO yields 3.19% based on trailing dividends and the latest price.
Is FR or TRNO more profitable?: TRNO runs the higher net margin — FR at 45.99% versus TRNO at 86.52%.
Which has been the better investment, FR or TRNO?: Over the past 10-year, TRNO delivered the higher annualized total return — FR at 11.67% versus TRNO at 12.73%. Past performance doesn't predict future results.

Go deeper

Full FR analysis Full TRNO analysis Interactive comparison tool

Dig into the metrics

First Industrial Realty Trust P/E ratio Terreno Realty P/E ratio First Industrial Realty Trust dividend yield Terreno Realty dividend yield First Industrial Realty Trust ROE Terreno Realty ROE First Industrial Realty Trust operating margin Terreno Realty operating margin First Industrial Realty Trust revenue growth Terreno Realty revenue growth First Industrial Realty Trust free cash flow Terreno Realty free cash flow

First Industrial Realty Trust & Terreno Realty appear in these rankings

Highest Dividend Yield Stocks Fastest Revenue Growth Stocks Highest Operating Margin Stocks Highest FCF Yield Stocks

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 June 20, 2026.