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Side-by-side financial comparison of Astera Labs, Inc. (ALAB) and Terreno Realty Corp (TRNO). Click either name above to swap in a different company.
Astera Labs, Inc. is the larger business by last-quarter revenue ($308.4M vs $137.5M, roughly 2.2× Terreno Realty Corp). Terreno Realty Corp runs the higher net margin — 115.1% vs 26.0%, a 89.0% gap on every dollar of revenue. On growth, Astera Labs, Inc. posted the faster year-over-year revenue change (93.4% vs 32.6%). Over the past eight quarters, Astera Labs, Inc.'s revenue compounded faster (100.3% CAGR vs 27.2%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Terreno Realty Corp is a publicly traded real estate investment trust that specializes in owning, operating, and acquiring high-quality industrial real estate assets. Its portfolio mainly includes distribution warehouses and logistics facilities located in high-demand coastal U.S. metropolitan markets, serving tenants across e-commerce, last-mile delivery, retail supply chain, and light manufacturing segments.
ALAB vs TRNO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $308.4M | $137.5M |
| Net Profit | $80.3M | $158.2M |
| Gross Margin | 76.3% | — |
| Operating Margin | 20.1% | — |
| Net Margin | 26.0% | 115.1% |
| Revenue YoY | 93.4% | 32.6% |
| Net Profit YoY | 152.4% | 107.9% |
| EPS (diluted) | $0.44 | $1.54 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $308.4M | — | ||
| Q4 25 | $270.6M | $137.5M | ||
| Q3 25 | $230.6M | $116.2M | ||
| Q2 25 | $191.9M | $112.2M | ||
| Q1 25 | $159.4M | $110.4M | ||
| Q4 24 | $141.1M | $103.7M | ||
| Q3 24 | $113.1M | $99.6M | ||
| Q2 24 | $76.8M | $94.2M |
| Q1 26 | $80.3M | — | ||
| Q4 25 | $45.0M | $158.2M | ||
| Q3 25 | $91.1M | $103.4M | ||
| Q2 25 | $51.2M | $93.3M | ||
| Q1 25 | $31.8M | $48.1M | ||
| Q4 24 | $24.7M | $76.1M | ||
| Q3 24 | $-7.6M | $36.6M | ||
| Q2 24 | $-7.5M | $35.7M |
| Q1 26 | 76.3% | — | ||
| Q4 25 | 75.6% | — | ||
| Q3 25 | 76.2% | — | ||
| Q2 25 | 75.8% | — | ||
| Q1 25 | 74.9% | — | ||
| Q4 24 | 74.0% | — | ||
| Q3 24 | 77.7% | — | ||
| Q2 24 | 77.9% | — |
| Q1 26 | 20.1% | — | ||
| Q4 25 | 24.7% | — | ||
| Q3 25 | 24.0% | — | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | -7.9% | — | ||
| Q2 24 | -31.7% | — |
| Q1 26 | 26.0% | — | ||
| Q4 25 | 16.6% | 115.1% | ||
| Q3 25 | 39.5% | 88.9% | ||
| Q2 25 | 26.7% | 83.1% | ||
| Q1 25 | 20.0% | 43.6% | ||
| Q4 24 | 17.5% | 73.4% | ||
| Q3 24 | -6.7% | 36.8% | ||
| Q2 24 | -9.8% | 37.9% |
| Q1 26 | $0.44 | — | ||
| Q4 25 | $0.25 | $1.54 | ||
| Q3 25 | $0.50 | $1.00 | ||
| Q2 25 | $0.29 | $0.90 | ||
| Q1 25 | $0.18 | $0.47 | ||
| Q4 24 | $1.23 | $0.78 | ||
| Q3 24 | $-0.05 | $0.37 | ||
| Q2 24 | $-0.05 | $0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $148.3M | $25.0M |
| Total DebtLower is stronger | — | $943.3M |
| Stockholders' EquityBook value | $1.5B | $4.1B |
| Total Assets | $1.7B | $5.4B |
| Debt / EquityLower = less leverage | — | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $148.3M | — | ||
| Q4 25 | $167.6M | $25.0M | ||
| Q3 25 | $140.4M | $26.2M | ||
| Q2 25 | $162.3M | $128.4M | ||
| Q1 25 | $86.4M | $156.5M | ||
| Q4 24 | $79.6M | $18.1M | ||
| Q3 24 | $126.1M | $243.7M | ||
| Q2 24 | $421.1M | $182.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $943.3M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $742.4M | ||
| Q1 25 | — | $741.9M | ||
| Q4 24 | — | $823.4M | ||
| Q3 24 | — | $672.2M | ||
| Q2 24 | — | $772.0M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.4B | $4.1B | ||
| Q3 25 | $1.3B | $4.0B | ||
| Q2 25 | $1.1B | $3.9B | ||
| Q1 25 | $1.0B | $3.9B | ||
| Q4 24 | $964.8M | $3.7B | ||
| Q3 24 | $889.6M | $3.6B | ||
| Q2 24 | $845.3M | $3.4B |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.5B | $5.4B | ||
| Q3 25 | $1.4B | $5.3B | ||
| Q2 25 | $1.3B | $5.0B | ||
| Q1 25 | $1.1B | $4.9B | ||
| Q4 24 | $1.1B | $4.8B | ||
| Q3 24 | $983.1M | $4.6B | ||
| Q2 24 | $915.5M | $4.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.23× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.19× | ||
| Q2 24 | — | 0.22× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $74.6M | $271.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.93× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $74.6M | — | ||
| Q4 25 | $95.3M | $271.9M | ||
| Q3 25 | $78.2M | $79.5M | ||
| Q2 25 | $135.4M | $60.6M | ||
| Q1 25 | $10.5M | $61.4M | ||
| Q4 24 | $39.7M | $232.7M | ||
| Q3 24 | $63.5M | $70.0M | ||
| Q2 24 | $29.8M | $64.3M |
| Q1 26 | — | — | ||
| Q4 25 | $76.6M | — | ||
| Q3 25 | $65.9M | — | ||
| Q2 25 | $133.3M | — | ||
| Q1 25 | $6.0M | — | ||
| Q4 24 | $24.3M | — | ||
| Q3 24 | $46.8M | — | ||
| Q2 24 | $28.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | 28.3% | — | ||
| Q3 25 | 28.6% | — | ||
| Q2 25 | 69.5% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 17.2% | — | ||
| Q3 24 | 41.4% | — | ||
| Q2 24 | 37.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 6.9% | — | ||
| Q3 25 | 5.3% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 14.8% | — | ||
| Q2 24 | 1.7% | — |
| Q1 26 | 0.93× | — | ||
| Q4 25 | 2.12× | 1.72× | ||
| Q3 25 | 0.86× | 0.77× | ||
| Q2 25 | 2.64× | 0.65× | ||
| Q1 25 | 0.33× | 1.28× | ||
| Q4 24 | 1.61× | 3.06× | ||
| Q3 24 | — | 1.91× | ||
| Q2 24 | — | 1.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALAB
Segment breakdown not available.
TRNO
| Disposal Group Disposed Of By Sale Not Discontinued Operations | $109.5M | 80% |
| Other | $23.8M | 17% |
| At Market Equity Offering Program500Million | $4.1M | 3% |
