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Side-by-side financial comparison of Terreno Realty Corp (TRNO) and ZIPRECRUITER, INC. (ZIP). Click either name above to swap in a different company.

Terreno Realty Corp is the larger business by last-quarter revenue ($137.5M vs $111.7M, roughly 1.2× ZIPRECRUITER, INC.). Terreno Realty Corp runs the higher net margin — 115.1% vs -0.7%, a 115.8% gap on every dollar of revenue. On growth, Terreno Realty Corp posted the faster year-over-year revenue change (32.6% vs 0.6%). Over the past eight quarters, Terreno Realty Corp's revenue compounded faster (27.2% CAGR vs -4.4%).

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.

TRNO vs ZIP — Head-to-Head

Bigger by revenue
TRNO
TRNO
1.2× larger
TRNO
$137.5M
$111.7M
ZIP
Growing faster (revenue YoY)
TRNO
TRNO
+32.0% gap
TRNO
32.6%
0.6%
ZIP
Higher net margin
TRNO
TRNO
115.8% more per $
TRNO
115.1%
-0.7%
ZIP
Faster 2-yr revenue CAGR
TRNO
TRNO
Annualised
TRNO
27.2%
-4.4%
ZIP

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
TRNO
TRNO
ZIP
ZIP
Revenue
$137.5M
$111.7M
Net Profit
$158.2M
$-835.0K
Gross Margin
89.1%
Operating Margin
3.6%
Net Margin
115.1%
-0.7%
Revenue YoY
32.6%
0.6%
Net Profit YoY
107.9%
92.3%
EPS (diluted)
$1.54
$-0.03

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.

Revenue
TRNO
TRNO
ZIP
ZIP
Q4 25
$137.5M
$111.7M
Q3 25
$116.2M
$115.0M
Q2 25
$112.2M
$112.2M
Q1 25
$110.4M
$110.1M
Q4 24
$103.7M
$111.0M
Q3 24
$99.6M
$117.1M
Q2 24
$94.2M
$123.7M
Q1 24
$85.0M
$122.2M
Net Profit
TRNO
TRNO
ZIP
ZIP
Q4 25
$158.2M
$-835.0K
Q3 25
$103.4M
$-9.8M
Q2 25
$93.3M
$-9.5M
Q1 25
$48.1M
$-12.8M
Q4 24
$76.1M
$-10.8M
Q3 24
$36.6M
$-2.6M
Q2 24
$35.7M
$7.0M
Q1 24
$36.1M
$-6.5M
Gross Margin
TRNO
TRNO
ZIP
ZIP
Q4 25
89.1%
Q3 25
89.1%
Q2 25
89.3%
Q1 25
89.4%
Q4 24
89.6%
Q3 24
89.4%
Q2 24
89.5%
Q1 24
89.1%
Operating Margin
TRNO
TRNO
ZIP
ZIP
Q4 25
3.6%
Q3 25
-4.4%
Q2 25
-5.9%
Q1 25
-10.6%
Q4 24
-3.6%
Q3 24
-2.8%
Q2 24
7.6%
Q1 24
-0.7%
Net Margin
TRNO
TRNO
ZIP
ZIP
Q4 25
115.1%
-0.7%
Q3 25
88.9%
-8.5%
Q2 25
83.1%
-8.5%
Q1 25
43.6%
-11.7%
Q4 24
73.4%
-9.7%
Q3 24
36.8%
-2.2%
Q2 24
37.9%
5.7%
Q1 24
42.4%
-5.3%
EPS (diluted)
TRNO
TRNO
ZIP
ZIP
Q4 25
$1.54
$-0.03
Q3 25
$1.00
$-0.11
Q2 25
$0.90
$-0.10
Q1 25
$0.47
$-0.13
Q4 24
$0.78
$-0.10
Q3 24
$0.37
$-0.03
Q2 24
$0.37
$0.07
Q1 24
$0.40
$-0.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
TRNO
TRNO
ZIP
ZIP
Cash + ST InvestmentsLiquidity on hand
$25.0M
$188.0M
Total DebtLower is stronger
$943.3M
Stockholders' EquityBook value
$4.1B
$-77.2M
Total Assets
$5.4B
$569.7M
Debt / EquityLower = less leverage
0.23×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
TRNO
TRNO
ZIP
ZIP
Q4 25
$25.0M
$188.0M
Q3 25
$26.2M
$211.8M
Q2 25
$128.4M
$203.5M
Q1 25
$156.5M
$221.1M
Q4 24
$18.1M
$218.4M
Q3 24
$243.7M
$225.6M
Q2 24
$182.0M
$271.7M
Q1 24
$649.6M
$282.5M
Total Debt
TRNO
TRNO
ZIP
ZIP
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 24
$771.8M
Stockholders' Equity
TRNO
TRNO
ZIP
ZIP
Q4 25
$4.1B
$-77.2M
Q3 25
$4.0B
$-76.1M
Q2 25
$3.9B
$-65.9M
Q1 25
$3.9B
$-11.3M
Q4 24
$3.7B
$13.4M
Q3 24
$3.6B
$13.6M
Q2 24
$3.4B
$24.4M
Q1 24
$3.4B
$12.7M
Total Assets
TRNO
TRNO
ZIP
ZIP
Q4 25
$5.4B
$569.7M
Q3 25
$5.3B
$573.6M
Q2 25
$5.0B
$592.4M
Q1 25
$4.9B
$629.4M
Q4 24
$4.8B
$664.1M
Q3 24
$4.6B
$652.0M
Q2 24
$4.5B
$665.3M
Q1 24
$4.4B
$662.4M
Debt / Equity
TRNO
TRNO
ZIP
ZIP
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×
Q1 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
TRNO
TRNO
ZIP
ZIP
Operating Cash FlowLast quarter
$271.9M
$7.7M
Free Cash FlowOCF − Capex
$7.6M
FCF MarginFCF / Revenue
6.8%
Capex IntensityCapex / Revenue
0.1%
Cash ConversionOCF / Net Profit
1.72×
TTM Free Cash FlowTrailing 4 quarters
$9.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
TRNO
TRNO
ZIP
ZIP
Q4 25
$271.9M
$7.7M
Q3 25
$79.5M
$2.6M
Q2 25
$60.6M
$10.5M
Q1 25
$61.4M
$-9.9M
Q4 24
$232.7M
$12.5M
Q3 24
$70.0M
$9.3M
Q2 24
$64.3M
$21.9M
Q1 24
$47.0M
$2.0M
Free Cash Flow
TRNO
TRNO
ZIP
ZIP
Q4 25
$7.6M
Q3 25
$2.2M
Q2 25
$10.2M
Q1 25
$-10.2M
Q4 24
$12.0M
Q3 24
$9.2M
Q2 24
$21.7M
Q1 24
$1.9M
FCF Margin
TRNO
TRNO
ZIP
ZIP
Q4 25
6.8%
Q3 25
1.9%
Q2 25
9.1%
Q1 25
-9.3%
Q4 24
10.8%
Q3 24
7.8%
Q2 24
17.6%
Q1 24
1.6%
Capex Intensity
TRNO
TRNO
ZIP
ZIP
Q4 25
0.1%
Q3 25
0.3%
Q2 25
0.3%
Q1 25
0.3%
Q4 24
0.4%
Q3 24
0.2%
Q2 24
0.1%
Q1 24
0.1%
Cash Conversion
TRNO
TRNO
ZIP
ZIP
Q4 25
1.72×
Q3 25
0.77×
Q2 25
0.65×
Q1 25
1.28×
Q4 24
3.06×
Q3 24
1.91×
Q2 24
1.80×
3.12×
Q1 24
1.30×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

TRNO
TRNO

Disposal Group Disposed Of By Sale Not Discontinued Operations$109.5M80%
Other$23.8M17%
At Market Equity Offering Program500Million$4.1M3%

ZIP
ZIP

License$84.3M75%
Services$27.4M25%

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