Tejon Ranch Company (TRC)
NYSE:TRC
Top Page
Tejon Ranch Company
(NYSE:TRC)
Select Model
Select Model
Rating:60Neutral
Price Target:
$19.50
▲(22.87% Upside)
Action:ReiteratedDate:03/20/26
TRC’s score is driven by a solid, low-leverage balance sheet but held back by volatile profitability and inconsistent free cash flow. Technicals are supportive with price above key moving averages and positive momentum, while valuation remains pressured by negative earnings. The latest earnings call adds some support via improving EBITDA, leasing strength, liquidity, and cost/gov reforms, but near-term ROIC and development funding/timing uncertainty temper the outlook.
Positive Factors
Revenue Growth
The significant increase in farming revenues indicates strong growth potential in this segment, contributing positively to the company's overall revenue stream.
Negative Factors
Cash Flow Challenges
Persistent cash flow issues indicate poor cash management, which can hinder the company's ability to invest in growth opportunities and maintain operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The significant increase in farming revenues indicates strong growth potential in this segment, contributing positively to the company's overall revenue stream.
Read all positive factors
Tejon Ranch Company (TRC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$517.06M
Dividend YieldN/A
Average Volume (3M)110.07K
Price to Earnings (P/E)5666.5
Beta (1Y)0.42
Revenue Growth15.71%
EPS GrowthN/A
CountryUS
Employees82
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)0.06
Shares Outstanding26,930,197
10 Day Avg. Volume103,060
30 Day Avg. Volume110,070
Financial Highlights & Ratios
PEG Ratio-58.30
Price to Book (P/B)0.89
Price to Sales (P/S)8.57
P/FCF Ratio-7.45
Enterprise Value/Market Cap1.16
Enterprise Value/Revenue12.13
Enterprise Value/Gross Profit98.36
Enterprise Value/Ebitda224.77
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Tejon Ranch Company Business Overview & Revenue Model
Company Description
Tejon Ranch Co., together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Developme...
How the Company Makes Money
TRC makes money primarily by monetizing the economic value of its land and related assets through a mix of recurring lease income and transactional development-related proceeds. Key revenue streams include: (1) Real estate: TRC earns revenue from ...
Tejon Ranch Company Earnings Call Summary
Earnings Call Date:Mar 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Neutral
The call highlighted clear operational improvements: quarter-over-quarter revenue and EBITDA growth, a very strong farming quarter, fully leased industrial assets, a leasing milestone and momentum at Terra Vista, improved liquidity, cost reductions, and concrete governance reforms. However, material concerns remain around a significant decline in net income (driven in part by one-time costs), weaker JV earnings driven by travel center traffic declines, modest mineral revenues, and strategic risks tied to large, capital-intensive master-planned community projects (Mountain Village and Centennial) that currently generate little or no income and create near-term ROIC and funding uncertainty. Management outlined plans to monetize assets, pursue JV equity, and push TRCC development to improve cash flow but provided limited near-term visibility on timing and magnitude of returns. Overall, positives in operations and governance are balanced by meaningful capital allocation and profitability challenges.Positive Updates
Quarterly Revenue and Adjusted EBITDA Growth
Revenues and other income increased 8% year-over-year to $23.3M (from $21.6M). Adjusted EBITDA for the quarter rose 9% to $11.4M (from $10.5M). For the fiscal year, revenue was $49.6M and adjusted EBITDA was $24.2M, both improving vs. 2024.
Negative Updates
Decline in Reported Net Income
Net income attributable to common stockholders fell to $1.6M ($0.06/share) in Q4 from $4.5M ($0.17/share) in 2024, a decline of ~64%. Management attributed the decline in part to one-time proxy defense costs.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue and Adjusted EBITDA Growth
Revenues and other income increased 8% year-over-year to $23.3M (from $21.6M). Adjusted EBITDA for the quarter rose 9% to $11.4M (from $10.5M). For the fiscal year, revenue was $49.6M and adjusted EBITDA was $24.2M, both improving vs. 2024.
Read all positive updates
Company Guidance
Management’s guidance focused on cost reduction, asset activation and disciplined financing while reporting a range of metrics: FY2025 revenue $49.6M and adjusted EBITDA $24.2M; Q4 revenue +8% to $23.3M, adjusted EBITDA +9% to $11.4M, and Q4 net income $1.6M ($0.06/share) vs $4.5M ($0.17) prior year; farming Q4 revenue $12.2M (+26%) and adjusted farming EBITDA (pre‑water) $4.4M (vs $3.4M); commercial real estate Q4 revenue $4.2M with industrial fully leased and commercial ~98% leased (Outlets 93% occupancy); equity in JV earnings $2.1M (vs $3.3M); mineral revenue $2.4M; Terra Vista phase one (228 units) produced $536K multifamily revenue in Q4 and is ~70% leased; cash & marketable securities $24.9M, revolver capacity ~$66.1M, total liquidity ~$91.0M. Key forward actions: target an additional $1.0M of overhead savings by 2027, pursue third‑party JV equity (not a rights offering) to fund MPCs, capital‑raising underway for Mountain Village, expect Centennial to enter a more public environmental review and be before LA County later this year, anticipate further benefit from the Hard Rock casino in 2026, and governance changes to allow shareholders owning ≥25% to call special meetings, with the board reducing from 10→9 now and to 7 by May 2027 and elimination of the executive committee.Tejon Ranch Company Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 49.59M | 41.89M | 44.74M | 79.22M | 55.61M |
| Gross Profit | 6.11M | 1.89M | 6.17M | 23.43M | 9.58M |
| EBITDA | -1.94M | -4.31M | 1.11M | 18.36M | 4.33M |
| Net Income | 75.00K | 2.69M | 3.27M | 15.81M | 5.35M |
Balance Sheet | |||||
| Total Assets | 630.47M | 608.00M | 577.52M | 566.79M | 546.04M |
| Cash, Cash Equivalents and Short-Term Investments | 24.89M | 53.71M | 64.46M | 72.56M | 47.18M |
| Total Debt | 93.94M | 66.94M | 47.94M | 49.94M | 52.63M |
| Total Liabilities | 139.91M | 119.04M | 94.43M | 89.20M | 89.53M |
| Stockholders Equity | 475.20M | 473.59M | 467.73M | 462.23M | 441.15M |
Cash Flow | |||||
| Free Cash Flow | -57.08M | -51.79M | -13.71M | -15.06M | -20.48M |
| Operating Cash Flow | 6.13M | 14.31M | 13.65M | 8.53M | 2.82M |
| Investing Cash Flow | -62.31M | -25.75M | -14.00M | -1.89M | -14.65M |
| Financing Cash Flow | 26.43M | 18.79M | -6.87M | -4.42M | -6.09M |
Tejon Ranch Company Technical Analysis
Positive
15.87
Price Trends
17.63
Positive
16.85
Positive
16.89
Positive
Market Momentum
0.41
Positive
62.63
Neutral
72.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRC, the sentiment is Positive. The current price of 15.87 is below the 20-day moving average (MA) of 18.75, below the 50-day MA of 17.63, and below the 200-day MA of 16.89, indicating a bullish trend. The MACD of 0.41 indicates Positive momentum. The RSI at 62.63 is Neutral, neither overbought nor oversold. The STOCH value of 72.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TRC.
Tejon Ranch Company Risk Analysis
Tejon Ranch Company disclosed 35 risk factors in its most recent earnings report. Tejon Ranch Company reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tejon Ranch Company Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.38B | 6.33 | 27.21% | 8.97% | 2.00% | ― | |
68 Neutral | $870.17M | 8.56 | 23.42% | 10.18% | -11.13% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $517.06M | 5,666.53 | 0.02% | ― | 15.71% | ― | |
58 Neutral | $118.48M | -1.40 | -30.03% | ― | -21.67% | 60.44% | |
56 Neutral | $646.28M | -1.57 | -40.36% | 20.53% | -15.85% | -59.42% | |
52 Neutral | $595.54M | -1.54 | -13.99% | 1.90% | 32.39% | -19.35% |
* Industrials Sector Average
TRC
Tejon Ranch Company
19.20
4.04
26.65%
CODI
Compass Diversified Holdings
8.59
-7.64
-47.07%
CRESY
Cresud Sociedad
12.58
3.39
36.95%
IRS
Irsa Inversiones Y Representaciones SA
16.65
5.92
55.20%
TUSK
Mammoth Energy Services
2.45
0.16
6.99%
FIP
FTAI Infrastructure Incorporation
5.04
1.44
39.96%
Tejon Ranch Company Corporate Events
Business Operations and StrategyShareholder Meetings
Tejon Ranch Proposes Shareholder Right to Call Meetings
Positive
Mar 19, 2026
On March 19, 2026, Tejon Ranch Co. said its board had approved adding a proposal to the 2026 annual meeting agenda that would allow shareholders or groups holding at least 25% of outstanding shares to call a special shareholder meeting. The measur...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Tejon Ranch Announces Director Change and Board Streamlining
Neutral
Mar 10, 2026
On March 9, 2026, Tejon Ranch Co. announced that Director Kenneth G. Yee will not stand for reelection at the 2026 annual meeting, after which the board will be reduced from ten to nine members and nine incumbent directors will stand for reelectio...
Business Operations and StrategyFinancial Disclosures
Tejon Ranch Schedules Release of 2025 Earnings Results
Neutral
Mar 5, 2026
Tejon Ranch Co. announced on March 5, 2026, that it will release its fourth quarter and full-year 2025 operating and financial results before the market opens on March 19, 2026. The company will host a conference call that same day at 5:00 p.m. Ea...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.