Which has the lower trailing P/E, FR or TRNO?

TRNO has the lower trailing P/E: FR trades at 23.91 and TRNO at 17.57. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FR or TRNO?

Over the past five years, TRNO grew revenue faster — FR at a 10.47% CAGR versus TRNO at 20.57%.

Does FR or TRNO pay a bigger dividend?

FR yields 2.88% and TRNO yields 2.90% based on trailing dividends and the latest price.

Is FR or TRNO more profitable?

TRNO runs the higher net margin — FR at 47.96% versus TRNO at 86.52%.

How have FR and TRNO total returns compared?

Over the past 10 years, FR delivered 11.46% and TRNO delivered 13.14% annualized total return. Past performance doesn't predict future results.

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

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 August 4, 2026. Differences are shown without an overall score or investment verdict.

First Industrial Realty Trust, Inc.

$8.55B

$64.52Real EstateDelayed quote: Aug 4, 2026, 10:40 AM EDT

TRNO

Terreno Realty Corporation

$7.51B

$70.69Real EstateDelayed quote: Aug 4, 2026, 10:40 AM EDT

Total return — FR vs TRNO

growth of $100 · dividends reinvested · last 16y

FR +1718.1%TRNO +485.1%FR compounded faster

FR TRNO

FR vs TRNO: by the numbers

•FR is the larger company ($8.55B vs $7.51B market cap).
•TRNO trades at the lower trailing earnings multiple (17.57 vs 23.91 P/E), one valuation lens rather than an overall verdict.
•TRNO converts more revenue to profit (86.52% vs 47.96% net margin).
•TRNO grew revenue faster over the past five years (20.57% vs 10.47% CAGR).
•TRNO pays the higher dividend yield (2.90% vs 2.88%).

Metrics side by side

Valuation

Metric	FR	TRNO
P/E ratio	23.91	17.57
Forward P/E	26.56	36.83
P/S ratio	11.43	15.38
P/B ratio	3.13	1.76
PEG ratio	5.83	0.14
EV / EBITDA	21.98	26.25
FCF yield	4.72%	2.69%

Profitability

Metric	FR	TRNO
Gross margin	22.60%	75.84%
Operating margin	41.59%	40.81%
Net margin	47.96%	86.52%
ROE	13.12%	9.88%
ROIC	5.76%	3.80%

Dividends

Metric	FR	TRNO
Dividend yield	2.88%	2.90%
Payout ratio	101.07%	52.93%

Growth (annualized)

Metric	FR	TRNO
Revenue CAGR (5Y)	10.47%	20.57%
EPS CAGR (5Y)	4.10%	35.52%
FCF CAGR (5Y)	7.52%	22.41%
Total return CAGR (5Y)	6.44%	3.94%

Frequently asked

Which has the lower trailing P/E, FR or TRNO?: TRNO has the lower trailing P/E: FR trades at 23.91 and TRNO at 17.57. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FR or TRNO?: Over the past five years, TRNO grew revenue faster — FR at a 10.47% CAGR versus TRNO at 20.57%.
Does FR or TRNO pay a bigger dividend?: FR yields 2.88% and TRNO yields 2.90% based on trailing dividends and the latest price.
Is FR or TRNO more profitable?: TRNO runs the higher net margin — FR at 47.96% versus TRNO at 86.52%.
How have FR and TRNO total returns compared?: Over the past 10 years, FR delivered 11.46% and TRNO delivered 13.14% annualized total return. 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 August 4, 2026.