Tejon Ranch Financials
This page shows Tejon Ranch (TRC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Asset build-out is outrunning internal cash generation, making this balance sheet more dependent on financing than on operating profits.
From FY2023 to FY2025, operating cash flow stayed positive even though operating income stayed negative; non-cash charges are helping cash generation survive a cost structure that still does not earn an operating profit. Because investing cash outflows kept running well above that internally generated cash, cash fell from$39.3M to$9.5M and leverage moved from 0.0x to 0.3x, showing the asset base is being expanded with outside funding rather than current operations.
Gross margin stayed near
The business is asset-heavy and slow to monetize: total assets reached
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Tejon Ranch's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Tejon Ranch has an operating margin of -16.0%, meaning the company retains $-16 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -22.0% the prior year.
Tejon Ranch's revenue surged 18.4% year-over-year to $49.6M, reflecting rapid business expansion. This strong growth earns a score of 42/100.
Tejon Ranch carries a low D/E ratio of 0.29, meaning only $0.29 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.14, Tejon Ranch holds $4.14 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 82/100.
Tejon Ranch generates a 0.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100. This is down from 0.6% the prior year.
Tejon Ranch passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Tejon Ranch generates $81.76 in operating cash flow ($6.1M OCF vs $75K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Tejon Ranch generated $49.6M in revenue in fiscal year 2025. This represents an increase of 18.4% from the prior year.
Tejon Ranch's EBITDA was -$1.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 55.0% from the prior year.
Tejon Ranch reported $75K in net income in fiscal year 2025. This represents a decrease of 97.2% from the prior year.
Tejon Ranch earned $0.00 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Cash & Balance Sheet
Tejon Ranch held $9.5M in cash against $0 in long-term debt as of fiscal year 2025.
Tejon Ranch had 27M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.
Margins & Returns
Tejon Ranch's gross margin was 29.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.3 percentage points from the prior year.
Tejon Ranch's operating margin was -16.0% in fiscal year 2025, reflecting core business profitability. This is up 5.9 percentage points from the prior year.
Tejon Ranch's net profit margin was 0.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.3 percentage points from the prior year.
Tejon Ranch's ROE was 0.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the prior year.
Capital Allocation
TRC Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.5M-55.0% | $21.1M+76.3% | $12.0M+44.1% | $8.3M+1.2% | $8.2M-54.2% | $17.9M+65.2% | $10.9M+90.8% | $5.7M |
| Cost of Revenue | $619K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $2.0M-68.3% | $6.5M+89.8% | $3.4M0.0% | $3.4M+176.9% | $1.2M-84.0% | $7.7M+210.0% | $2.5M-3.7% | $2.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $931K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | -$1.1M-149.3% | $2.3M+213.2% | -$2.0M+50.1% | -$4.1M+2.7% | -$4.2M-296.0% | $2.1M+156.1% | -$3.8M-6.9% | -$3.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $59K-98.0% | $2.9M+398.0% | -$972K-323.4% | $435K+134.2% | -$1.3M-200.8% | $1.3M-31.1% | $1.8M+255.8% | -$1.2M |
| Net Income | $151K-90.4% | $1.6M-5.3% | $1.7M+197.5% | -$1.7M-16.9% | -$1.5M-132.7% | $4.5M+344.2% | -$1.8M-291.8% | $957K |
| EPS (Diluted) | $0.01 | N/A | $0.06+200.0% | $-0.06-20.0% | $-0.05 | N/A | $-0.07-275.0% | $0.04 |
TRC Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $634.2M+0.6% | $630.5M+0.1% | $629.6M+1.8% | $618.5M+0.6% | $614.6M+1.1% | $608.0M+1.7% | $598.0M+1.2% | $590.8M |
| Current Assets | $33.4M-15.0% | $39.3M+7.4% | $36.6M+9.9% | $33.3M-27.3% | $45.8M-34.0% | $69.4M+24.7% | $55.6M-13.7% | $64.5M |
| Cash & Equivalents | $4.7M-51.0% | $9.5M+166.7% | $3.6M+42.8% | $2.5M-79.6% | $12.3M-68.7% | $39.3M+43.5% | $27.4M-17.1% | $33.0M |
| Inventory | $6.1M+83.6% | $3.3M-59.3% | $8.2M-5.2% | $8.7M+52.8% | $5.7M+43.0% | $4.0M-47.4% | $7.5M-16.1% | $9.0M |
| Accounts Receivable | $4.8M-48.8% | $9.4M+85.0% | $5.1M+188.5% | $1.8M-40.9% | $3.0M-62.4% | $7.9M+184.4% | $2.8M+18.0% | $2.4M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $144.3M+3.1% | $139.9M-0.8% | $141.0M+7.1% | $131.7M+3.9% | $126.7M+6.4% | $119.0M+4.1% | $114.4M+7.6% | $106.3M |
| Current Liabilities | $12.1M+27.4% | $9.5M-30.9% | $13.7M-7.3% | $14.8M-13.1% | $17.0M+1.5% | $16.8M-14.2% | $19.6M+4.2% | $18.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $474.5M-0.1% | $475.2M+0.4% | $473.2M+0.4% | $471.5M-0.2% | $472.5M-0.2% | $473.6M+1.1% | $468.3M-0.2% | $469.2M |
| Retained Earnings | $111.8M+0.1% | $111.7M+1.4% | $110.1M+1.5% | $108.4M-1.6% | $110.1M-1.3% | $111.6M+4.2% | $107.1M-1.7% | $109.0M |
TRC Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.3M-67.7% | $10.2M+530.2% | -$2.4M-524.7% | -$381K+71.7% | -$1.3M-110.1% | $13.3M+540.7% | $2.1M+214.9% | -$1.8M |
| Capital Expenditures | N/A | N/A | $12.2M-37.5% | $19.6M+11.7% | $17.5M+8.0% | $16.2M-14.2% | $18.9M+35.5% | $14.0M |
| Free Cash Flow | N/A | N/A | -$14.6M+26.8% | -$20.0M-5.8% | -$18.9M-536.0% | -$3.0M+82.4% | -$16.8M-6.8% | -$15.8M |
| Investing Cash Flow | -$8.9M-42.8% | -$6.2M+5.2% | -$6.5M+61.3% | -$16.9M+48.2% | -$32.6M-290.0% | -$8.4M+46.8% | -$15.7M-233.6% | -$4.7M |
| Financing Cash Flow | $695K-63.8% | $1.9M-80.8% | $10.0M+33.3% | $7.5M+7.0% | $7.0M+0.1% | $7.0M-12.5% | $8.0M+100.0% | $4.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TRC Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.5%-9.0pp | 30.6%+2.2pp | 28.4%-12.5pp | 40.9%+26.0pp | 15.0%-27.9pp | 42.9%+20.0pp | 22.9%-22.5pp | 45.3% |
| Operating Margin | -11.9%-22.8pp | 10.9%+27.8pp | -16.9%+31.9pp | -48.8%+1.9pp | -50.7%-62.6pp | 11.8%+46.8pp | -34.9%+27.4pp | -62.4% |
| Net Margin | 1.6%-5.9pp | 7.5%-6.5pp | 14.0%+34.6pp | -20.6%-2.8pp | -17.8%-42.8pp | 25.0%+41.9pp | -16.9%-33.7pp | 16.8% |
| Return on Equity | 0.0%-0.3pp | 0.3%-0.0pp | 0.4%+0.7pp | -0.4%-0.1pp | -0.3%-1.3pp | 0.9%+1.3pp | -0.4%-0.6pp | 0.2% |
| Return on Assets | 0.0%-0.2pp | 0.3%-0.0pp | 0.3%+0.5pp | -0.3%-0.0pp | -0.2%-1.0pp | 0.7%+1.1pp | -0.3%-0.5pp | 0.2% |
| Current Ratio | 2.76-1.4 | 4.14+1.5 | 2.66+0.4 | 2.24-0.4 | 2.68-1.4 | 4.13+1.3 | 2.84-0.6 | 3.43 |
| Debt-to-Equity | 0.300.0 | 0.290.0 | 0.30+0.0 | 0.28+0.0 | 0.27+0.0 | 0.250.0 | 0.24+0.0 | 0.23 |
| FCF Margin | N/A | N/A | -122.2%+118.4pp | -240.6%-10.5pp | -230.1%-213.5pp | -16.6%+138.6pp | -155.2%+122.0pp | -277.2% |
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Frequently Asked Questions
What is Tejon Ranch's annual revenue?
Tejon Ranch (TRC) reported $49.6M in total revenue for fiscal year 2025. This represents a 18.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Tejon Ranch's revenue growing?
Tejon Ranch (TRC) revenue grew by 18.4% year-over-year, from $41.9M to $49.6M in fiscal year 2025.
Is Tejon Ranch profitable?
Yes, Tejon Ranch (TRC) reported a net income of $75K in fiscal year 2025, with a net profit margin of 0.1%.
What is Tejon Ranch's EBITDA?
Tejon Ranch (TRC) had EBITDA of -$1.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Tejon Ranch's gross margin?
Tejon Ranch (TRC) had a gross margin of 29.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Tejon Ranch's operating margin?
Tejon Ranch (TRC) had an operating margin of -16.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Tejon Ranch's net profit margin?
Tejon Ranch (TRC) had a net profit margin of 0.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Tejon Ranch's return on equity (ROE)?
Tejon Ranch (TRC) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tejon Ranch's operating cash flow?
Tejon Ranch (TRC) generated $6.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Tejon Ranch's total assets?
Tejon Ranch (TRC) had $630.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Tejon Ranch's current ratio?
Tejon Ranch (TRC) had a current ratio of 4.14 as of fiscal year 2025, which is generally considered healthy.
What is Tejon Ranch's debt-to-equity ratio?
Tejon Ranch (TRC) had a debt-to-equity ratio of 0.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tejon Ranch's return on assets (ROA)?
Tejon Ranch (TRC) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tejon Ranch's Piotroski F-Score?
Tejon Ranch (TRC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Tejon Ranch's earnings high quality?
Tejon Ranch (TRC) has an earnings quality ratio of 81.76x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Tejon Ranch?
Tejon Ranch (TRC) scores 39 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.