Tejon Ranch CoTejon Ranch Co
Tejon Ranch Co

Tejon Ranch Co

TRC
Industrials·Industrial Conglomerates

Tejon Ranch Co. engages in real estate development and agribusiness. It operates through the following segments: Real Estate-Commercial and Industrial, Multifamily, Real Estate-Resort and Residential, Mineral Resources, Farming Operations, and Ranch Operations. The Real Estate-Commercial and Industrial segment includes entitling, planning, and permitting of land for development, the construction of infrastructure, the construction of pre-leased buildings, the construction of buildings to be leased or sold, and the sale of land to third parties for development. The Multifamily segment focuses on the development, lease-up, and long-term ownership of residential rental communities within Tejon Ranch Commerce Center. The Real Estate-Resort and Residential segment includes land entitlement, land planning and pre-construction engineering, land stewardship and conservation activities. The Mineral Resources segment includes revenues from oil and gas royalty leases, and rock and aggregate mining leases. The Farming Operations segment produces revenue from farming and sale of wine grapes, almonds, and pistachios. The Ranch Operations segment consists of grazing lease revenues, game management revenues, land maintenance activities, and ancillary land uses. The company was founded by Edward Fitzgerald Beale in 1843 and is headquartered in Lebec, CA.

California; U.S.A
Market cap
No dataNo data
Revenue
$49.6M+18.4% YoY
Net income
$75K−97.2% YoY
Free cash flow
$-57.1M−33.0% YoY

Market

Listed stock
TRCPriceNYSE
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Financial performance

Revenue
$49.6M+18.4% YoY
Operating income
$-8M+13.5% YoY
Net income
$75K−97.2% YoY
Free cash flow
$-57.1M−33.0% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $6.7M, 2022 $6.9M, 2023 $7.4M, 2024 $41.9M, 2025 $49.6M. Operating income: 2021 $-260K, 2022 $13.7M, 2023 $-3.7M, 2024 $-9.2M, 2025 $-8M. Net income: 2021 $5.3M, 2022 $15.8M, 2023 $3.3M, 2024 $2.7M, 2025 $75K. Free cash flow: 2021 $-18.1M, 2022 $-14.1M, 2023 $-7.7M, 2024 $-42.9M, 2025 $-57.1M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
18.4%−44618 bps YoY
Gross margin
No dataNo data
Operating margin
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FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $-260K, 2022-12-31 $13.7M, 2023-12-31 $-3.7M, 2024-12-31 $-9.2M, 2025-12-31 $-8M. Net income: 2021-12-31 $5.3M, 2022-12-31 $15.8M, 2023-12-31 $3.3M, 2024-12-31 $2.7M, 2025-12-31 $75K. Free cash flow: 2021-12-31 $-18.1M, 2022-12-31 $-14.1M, 2023-12-31 $-7.7M, 2024-12-31 $-42.9M, 2025-12-31 $-57.1M

Growth heatmap

2022202320242025CAGR
Revenue
+3.3%
+7.6%
+464.6%
+18.4%
+65.1%
Gross profit
+7.3%
+147.9%
+619.3%
+13.3%
No data
Operating income
+5380.4%
-126.9%
-148.7%
+13.5%
No data
Free cash flow
+22.1%
+45.5%
-459.4%
-33.0%
No data

Earnings quality

Operating cash flow
$6.1M−57.2% YoY
Net income
$75K−97.2% YoY
Free cash flow
$-57.1M−33.0% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 8176%, 2024-12-31 532%, 2023-12-31 418%, 2022-12-31 54%, 2021-12-31 53%. Free cash flow: 2025-12-31 -76104%, 2024-12-31 -1596%, 2023-12-31 -235%, 2022-12-31 -89%, 2021-12-31 -338%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
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FCF / share
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Diluted shares
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Financial flexibility

Cash & equivalents
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Total debt
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Net debt
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Current ratio
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Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
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Return on assets
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Return on invested capital
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Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
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Price to sales
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EV / EBITDA
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Free cash flow yield
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