A Business at a Glance
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TEJON RANCH CO
TRC
$474M
Mkt Cap
$17.62
-0.62%
TEJON RANCH CO (TRC) has a current P/E ratio of 160.2, compared to its historical median P/E of 40.6. The stock is currently considered Expensive based on its historical valuation range.
TEJON RANCH CO (TRC) has a 5-year average return on invested capital (ROIC) of 0.8%. This is below average and may indicate limited pricing power.
TEJON RANCH CO (TRC) has a market capitalization of $474M. It is classified as a small-cap stock.
TEJON RANCH CO (TRC) does not currently pay a regular dividend.
Based on historical P/E analysis, TEJON RANCH CO (TRC) appears expensive. The current P/E of 160.2 is 295% above its historical median of 40.6. The estimated fair value CAGR (P/E method) is -9.8%.
TEJON RANCH CO (TRC) operates in the Real Estate industry, within the Real Estate sector.
TEJON RANCH CO (TRC) reported annual revenue of $50 million in its most recent fiscal year, based on SEC EDGAR filings.
Company Overview We are a diversified real estate development and agribusiness company committed to responsibly using our land and resources to meet the housing, employment, and lifestyle needs of Californians and create value for our shareholders. Current operations consist of land planning and entitlement, land development, commercial land sales and leasing, leasing of land for mineral royalties, water asset management and sales, grazing leases, farming, and ranch operations. In 2025, our real estate operations will expand to include residential leasing tied to our multi-family project, Terra Vista at Tejon, which began development in 2024, further diversifying our portfolio and enhancing long-term recurring revenue streams.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 50M | 50M | 42M | 45M | 79M | 6.7M |
| Net Income | 75K | 75K | 2.7M | 3.3M | 16M | 5.3M |
| EPS | $0.00 | $0.00 | $0.10 | $0.12 | $0.59 | $0.20 |
| Free Cash Flow | -411K | -411K | -43M | -7.7M | -14M | -18M |
| ROIC | -0.1% | 0.0% | 0.6% | 0.7% | 2.1% | - |
| Gross Margin | 17.1% | 17.1% | 18.8% | 18.4% | 33.5% | - |
| Debt/Equity | 0.20 | 0.20 | 0.14 | 0.10 | 0.11 | 0.12 |
| Dividends/Share | $0.00 | $0.00 | - | - | $0.00 | $0.00 |
| Operating Income | -8.0M | -8.0M | -9.2M | -3.7M | 14M | - |
| Operating Margin | -16.0% | -16.0% | -22.0% | -8.3% | 17.3% | - |
| ROE | 0.0% | 0.0% | 0.6% | 0.7% | 3.5% | 1.2% |
| Shares Outstanding | 27M | 27M | 27M | 27M | 27M | 27M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 51M | 51M | 46M | 35M | 46M | 50M | 38M | 6.7M | 79M | 45M | 42M | 50M | 50M |
| Gross Margin | 8.0% | 10.6% | 1.6% | 0.1% | 54.3% | 7.8% | N/A | N/A | 33.5% | 18.4% | 18.8% | 17.1% | 17.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 1.9M | -3.2M | -6.8M | -7.5M | 436K | -1.4M | -6.7M | N/A | 14M | -3.7M | -9.2M | -8.0M | -8.0M |
| Op. Margin | 3.8% | -6.2% | -14.7% | -21.3% | 1.0% | -2.9% | -17.8% | N/A | 17.3% | -8.3% | -22.0% | -16.0% | -16.0% |
| Net Income | 5.7M | 2.9M | 800K | -1.8M | 4.3M | 11M | -740K | 5.3M | 16M | 3.3M | 2.7M | 75K | 75K |
| Net Margin | 11.1% | 5.8% | 1.7% | -5.1% | 9.3% | 21.4% | -2.0% | 80.2% | 20.0% | 7.3% | 6.4% | 0.2% | 0.2% |
| Non-Recurring | 458K | 95K | 1.2M | -45K | -94K | 0 | 1.3M | 12K | 2.2M | 417K | 8K | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 0.5% | 0.8% | 0.2% | -0.4% | 0.9% | 2.2% | -0.2% | N/A | 2.1% | 0.7% | 0.6% | 0.0% | -0.1% |
| ROE | 2.0% | 1.0% | 0.3% | -0.5% | 1.0% | 2.5% | -0.2% | 1.2% | 3.5% | 0.7% | 0.6% | 0.0% | 0.0% |
| ROA | 1.5% | 0.7% | 0.2% | -0.4% | 0.8% | 2.0% | -0.1% | 1.0% | 2.8% | 0.6% | 0.5% | 0.0% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 13M | 17M | 5.6M | 9.8M | 14M | 16M | 15M | 2.8M | 8.5M | 14M | 14M | 6.1M | 6.1M |
| Free Cash Flow | -12M | -11M | -21M | -12M | -8.2M | -9.2M | -6.8M | -18M | -14M | -7.7M | -43M | -411K | -411K |
| Owner Earnings | 4.8M | 8.1M | -4.7M | 589K | 5.7M | 7.8M | 6.0M | -6.0M | 1.0M | 5.6M | 5.2M | -1.6M | -1.6M |
| CapEx | 25M | 28M | 26M | 22M | 23M | 25M | 22M | 21M | 23M | 21M | 57M | 6.5M | 6.5M |
| Maint. CapEx | 4.9M | 5.1M | 5.7M | 5.7M | 5.4M | 5.0M | 4.9M | 4.6M | 4.6M | 4.8M | 4.9M | 6.0M | 6.0M |
| Growth CapEx | 20M | 23M | 21M | 16M | 17M | 20M | 17M | 16M | 18M | 17M | 52M | 529K | 529K |
| D&A | 4.9M | 5.1M | 5.7M | 5.7M | 5.4M | 5.0M | 4.9M | 4.6M | 4.6M | 4.8M | 4.9M | 6.0M | 6.0M |
| CapEx/OCF | 187.4% | 165.3% | 472.3% | 220.8% | 157.3% | 157.2% | 143.8% | N/A | N/A | 156.2% | 399.8% | N/A | 106.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 3.5M | 3.8M | 4.6M | 3.6M | 3.2M | 3.2M | 4.5M | 4.3M | 2.9M | 3.3M | 4.2M | 1.7M | 1.7M |
| Debt Repayment | 244K | 244K | 815K | 3.9M | 4.0M | 4.0M | 4.8M | 4.3M | 52M | 50M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 58M | 57M | 66M | -7.9M | -14M | 468K | -1.2M | 5.5M | -23M | -17M | 13M | 69M | 84M |
| Cash & Equiv. | 5.6M | 1.9M | 1.3M | 20M | 16M | 27M | 55M | 36M | 39M | 32M | 39M | 9.5M | 9.5M |
| Long-Term Debt | 74M | 73M | 70M | 66M | 62M | 57M | 53M | 48M | 48M | 0 | 0 | 0 | N/A |
| Debt/Equity | 0.37 | 0.31 | 0.31 | 0.21 | 0.16 | 0.15 | 0.13 | 0.12 | 0.11 | 0.10 | 0.14 | 0.20 | 0.20 |
| Interest Coverage | 10.1 | -18.1 | -42.0 | -54.1 | 3.7 | -6.0 | -34.4 | N/A | 64.2 | N/A | N/A | N/A | N/A |
| Equity | 285M | 292M | 306M | 398M | 419M | 430M | 430M | 441M | 462M | 468M | 474M | 475M | 475M |
| Total Assets | 432M | 432M | 440M | 518M | 529M | 539M | 536M | 546M | 567M | 578M | 608M | 630M | 630M |
| Total Liabilities | 108M | 101M | 105M | 91M | 94M | 94M | 91M | 90M | 89M | 94M | 119M | 140M | 140M |
| Intangibles | N/A | N/A | 30M | 29M | 27M | 26M | 24M | 23M | 22M | 20M | 19M | 18M | 18M |
| Retained Earnings | 68M | 71M | 72M | 70M | 75M | 85M | 84M | 90M | 106M | 109M | 112M | 112M | 112M |
| Working Capital | 49M | 39M | 24M | 93M | 80M | 67M | 56M | 47M | 71M | 68M | 53M | 30M | 30M |
| Current Assets | 65M | 49M | 43M | 104M | 96M | 82M | 69M | 63M | 83M | 80M | 69M | 39M | 39M |
| Current Liabilities | 16M | 10M | 19M | 10M | 16M | 15M | 13M | 16M | 12M | 12M | 17M | 9.5M | 9.5M |
| Per Share Data | |||||||||||||
| EPS | 0.27 | 0.14 | 0.04 | -0.08 | 0.16 | 0.40 | -0.03 | 0.20 | 0.59 | 0.12 | 0.10 | 0.00 | 0.00 |
| Owner EPS | 0.23 | 0.39 | -0.23 | 0.03 | 0.21 | 0.30 | 0.25 | -0.23 | 0.04 | 0.21 | 0.20 | -0.06 | -0.06 |
| Book Value | 13.59 | 13.84 | 15.29 | 17.73 | 15.77 | 16.27 | 17.43 | 16.50 | 17.25 | 17.19 | 17.61 | 17.65 | 17.65 |
| Cash Flow/Share | 0.63 | 0.81 | 0.28 | 0.44 | 0.54 | 0.61 | 0.63 | 0.11 | 0.32 | 0.50 | 0.53 | 0.23 | 0.23 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 20.9M | 21.1M | 20.0M | 22.5M | 26.6M | 26.4M | 24.7M | 26.7M | 26.8M | 27.2M | 26.9M | 26.9M | 26.9M |
| Valuation | |||||||||||||
| P/E Ratio | 109.0 | 140.9 | 835.9 | N/A | 104.6 | 40.6 | N/A | N/A | N/A | 146.1 | 156.8 | N/A | N/A |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | 331.0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 2.2 | 1.4 | 1.5 | 1.2 | 1.1 | 1.0 | 0.9 | N/A | N/A | 1.0 | 0.9 | N/A | 1.0 |
| Price/Sales | 12.8 | 10.0 | 9.0 | 13.4 | 12.9 | 9.2 | 9.5 | N/A | N/A | 10.6 | 10.7 | N/A | 9.6 |
| FCF Yield | -1.9% | -2.7% | -4.5% | -2.5% | -1.8% | -2.1% | -1.9% | N/A | N/A | -1.6% | -10.2% | N/A | -0.1% |
| Market Cap | 617M | 416M | 466M | 471M | 445M | 430M | 366M | 0 | 0 | 477M | 422M | 0 | 474M |
| Avg. Price | 30.20 | 23.58 | 22.01 | 21.10 | 22.09 | 17.30 | 14.59 | 0.00 | 0.00 | 17.44 | 16.69 | 0.00 | 17.62 |
| Year-End Price | 28.58 | 19.15 | 25.08 | 20.95 | 16.74 | 16.24 | 14.82 | 0.00 | 0.00 | 17.53 | 15.68 | 0.00 | 17.62 |
TEJON RANCH CO passes 0 of 9 quality checks, indicating weak fundamentals.
TEJON RANCH CO trades at 160.2x trailing earnings, compared to its 15-year median P/E of 40.6x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 0.8% with a gross margin of 22.0%. At current prices, the estimated annualized return to fair value is -9.8%.
TEJON RANCH CO (TRC) has a net profit margin of 0.2%. This is a modest margin.
TEJON RANCH CO (TRC) generated $-411 thousand in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
TEJON RANCH CO (TRC) has a debt-to-equity ratio of 0.20. This indicates a conservatively financed balance sheet.
TEJON RANCH CO (TRC) reported earnings per share (EPS) of $0.00 in its most recent fiscal year.
TEJON RANCH CO (TRC) has a return on equity (ROE) of 0.0%. This indicates moderate shareholder returns.
TEJON RANCH CO (TRC) has a 5-year average gross margin of 22.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for TEJON RANCH CO (TRC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TEJON RANCH CO (TRC) has a book value per share of $17.65, based on its most recent annual SEC filing.