Is NNN or TRNO cheaper?

On trailing earnings, TRNO is cheaper: NNN trades at a 22.62 P/E and TRNO at 16.49.

Which has grown faster, NNN or TRNO?

Over the past five years, TRNO grew revenue faster — NNN at a 7.06% CAGR versus TRNO at 20.57%.

Does NNN or TRNO pay a bigger dividend?

NNN yields 5.15% and TRNO yields 3.05% based on trailing dividends and the latest price.

Is NNN or TRNO more profitable?

TRNO runs the higher net margin — NNN at 41.38% versus TRNO at 86.52%.

Which has been the better investment, NNN or TRNO?

Over the past 10-year, TRNO delivered the higher annualized total return — NNN at 4.73% versus TRNO at 13.47%. Past performance doesn't predict future results.

NNN REIT, Inc. (NNN) vs Terreno Realty Corporation (TRNO)

TRNO leads on 9 of 17 compared metrics.

A side-by-side comparison of NNN REIT, Inc. and Terreno Realty Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 13, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

Terreno Realty Corporation

$7.15B

$67.27Real Estate

Total return — NNN vs TRNO

growth of $100 · last 16y

NNN +139.4%TRNO +260.7%TRNO compounded faster

NNN TRNO

NNN vs TRNO: by the numbers

•NNN is the larger company ($8.86B vs $7.15B market cap).
•TRNO trades at the lower earnings multiple (16.49 vs 22.62 P/E).
•TRNO converts more revenue to profit (86.52% vs 41.38% net margin).
•TRNO grew revenue faster over the past five years (20.57% vs 7.06% CAGR).
•NNN pays the higher dividend yield (5.15% vs 3.05%).

Which is better, NNN or TRNO?

Metric tally: NNN 8 · TRNO 9

It depends on what you're optimizing for:

ValueTRNO(lower P/E)

GrowthTRNO(faster 5Y revenue CAGR)

IncomeNNN(higher dividend yield)

QualityNNN(higher ROIC)

Valuation

Metric	NNN	TRNO
P/E ratio	22.62	16.49●
Forward P/E	23.04●	40.04
P/S ratio	9.43●	14.43
P/B ratio	2.01	1.65●
PEG ratio	2.03	0.14●
EV / EBITDA	15.72	13.82●
FCF yield	7.37%●	2.87%

Profitability

Metric	NNN	TRNO
Gross margin	81.38%●	63.89%
Operating margin	63.13%●	40.81%
Net margin	41.38%	86.52%●
ROE	8.81%	9.88%●
ROIC	6.10%●	3.66%

Dividends

Metric	NNN	TRNO
Dividend yield	5.15%●	3.05%
Payout ratio	115.94%	52.16%

Growth (annualized)

Metric	NNN	TRNO
Revenue CAGR (5Y)	7.06%	20.57%●
EPS CAGR (5Y)	11.15%	35.52%●
FCF CAGR (5Y)	6.14%	22.41%●
Total return CAGR (5Y)	4.03%●	3.07%

Frequently asked

Which is better, NNN or TRNO?: It depends on your goal. value: TRNO (lower P/E); growth: TRNO (faster 5Y revenue CAGR); income: NNN (higher dividend yield); quality: NNN (higher ROIC). Across all compared metrics, TRNO leads 9 to 8.
Is NNN or TRNO cheaper?: On trailing earnings, TRNO is cheaper: NNN trades at a 22.62 P/E and TRNO at 16.49.
Which has grown faster, NNN or TRNO?: Over the past five years, TRNO grew revenue faster — NNN at a 7.06% CAGR versus TRNO at 20.57%.
Does NNN or TRNO pay a bigger dividend?: NNN yields 5.15% and TRNO yields 3.05% based on trailing dividends and the latest price.
Is NNN or TRNO more profitable?: TRNO runs the higher net margin — NNN at 41.38% versus TRNO at 86.52%.
Which has been the better investment, NNN or TRNO?: Over the past 10-year, TRNO delivered the higher annualized total return — NNN at 4.73% versus TRNO at 13.47%. Past performance doesn't predict future results.

Go deeper

Full NNN analysis Full TRNO analysis Interactive comparison tool

Dig into the metrics

NNN REIT P/E ratio Terreno Realty P/E ratio NNN REIT dividend yield Terreno Realty dividend yield NNN REIT ROE Terreno Realty ROE NNN REIT operating margin Terreno Realty operating margin NNN REIT revenue growth Terreno Realty revenue growth NNN REIT free cash flow Terreno Realty free cash flow

NNN REIT & Terreno Realty appear in these rankings

Highest Dividend Yield Stocks Dividend Aristocrats Fastest Revenue Growth Stocks Highest Operating Margin 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 13, 2026.