TEJON RANCH CO financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TEJON RANCH CO files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	46	35.3	45.6	49.5	37.8		79.2	44.7	41.9	49.6
Gross profit							31.2	13	12.8	14.5
Operating income	-6.77	-7.52	0.44	-1.43	-6.75	-0.26	13.7	-3.7	-9.2	-7.95
Other non-operating income	0.92	0.19	1.29	-0.59	2.33	0.22	1.72	2.42	1.98	0.75
Pre-tax income	1.25	-3.1	5.56	14.6	0.08	9.16	23.2	5.59	3.66	1.16
Income tax	0.5	-1.28	1.32	3.98	0.83	3.82	7.39	2.32	0.98	1.09
Net income to minority interests	-0.04	-0.02	-0.02	-0	-0.01	-0.01	0	0	-0	-0
Net income	0.8	-1.8	4.26	10.6	-0.74	5.35	15.8	3.27	2.69	0.08
EBITDA	-1.11	-1.83	5.86	3.61	-1.81	4.33	18.4	1.11	-4.31	-1.94
EPS, basic	0.04	-0.08	0.16	0.41	-0.03	0.20	0.60	0.12	0.10	0.00
EPS, diluted	0.04	-0.08	0.16	0.40	-0.03	0.20	0.59	0.12	0.10	0.00
Shares, basic (weighted)	20.7	21.7	25.9	26	26.2	26.3	26.5	26.7	26.8	26.9
Shares, diluted (weighted)	20.8	21.7	26	26.1	26.3	26.4	26.7	26.7	26.8	26.9

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1.26	20.1	15.9	27.1	55.3	36.2	39.1	31.9	39.3	9.52
Short-term investments		70.9	63.7	39.1	2.77	11	33.4	32.6	14.4	15.4
Receivables	8.74	7.61	10.9	9.95	4.59	6.47	4.45	8.35	7.92	9.39
Inventory	3.08	2.47	2.62	2.79	2.99	5.7	3.37	3.49	3.97	3.35
Other current assets	3.11	2.85	3.35	3.25	2.84	3.62	2.66	3.5	3.81	1.63
Total current assets	42.9	104	96.5	82.2	68.5	63	83	79.8	69.4	39.3
Property, plant and equipment	46	45.3	46.1	45.1	46.2	50.7	53	54	56.4	59.3
Intangible assets	29.9	28.6	27.2	25.8	24.5	23.1	21.7	20.4	19	17.6
Other non-current assets	2.66	3.79	2.46	2.8	3.27	1.62	3.6	4.08	3.98	3.57
Total assets	440	518	529	539	536	546	567	578	608	630
Accounts payable	2.42	3.55	6.04	6.15	3.37	4.55	5.12	6.46	9.09	5.24
Deferred revenue	1.53	1.12	2.86	1.35	1.97	1.91	1.53	1.89	2.16	2.06
Short-term debt	11.6	4	4.02	4.18	4.3	4.48	1.78	0
Total current liabilities	18.7	10.5	16.5	15.1	12.9	15.6	12	11.6	16.8	9.49
Long-term debt	69.9	65.8	61.8	57.5	52.6	48.2	48.2	0
Other non-current liabilities	13	11.7	12.7	15.5	19	14.5	10.4	15.2	14.8	15.7
Total liabilities	105	91.4	94.4	93.8	91	89.5	89.2	94.4	119	140
Total debt	73.9	70	65.9	61.9	57.1	52.8	50.2	47.9
Paid-in capital	230	320	337	339	342	345	345	346	348	350
Retained earnings	71.9	70.4	74.6	85.2	84.5	89.8	106	109	112	112
Other comprehensive income	-6.24	-5.26	-4.86	-6.77	-9.72	-6.82	-2.03	-0.17	0.09	-0.18
Shareholders' equity	306	398	419	430	430	441	462	468	474	475
Minority interests	28.6	28.6	15.4	15.4	15.4	15.4	15.4	15.4	15.4	15.4
Total equity	335	427	435	446	445	457	478	483	489	491
Total liabilities and equity	440	518	529	539	536	546	567	578	608	630
Shares outstanding	20.8	25.9	26	26.1	26.3	26.4	26.5	26.8	26.8	26.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	0.76	-1.82	4.24	10.6	-0.75	5.34	15.8	3.27	2.69	0.07
Depreciation and amortization	5.66	5.69	5.42	5.04	4.94	4.59	4.63	4.81	4.89	6.01
Stock-based compensation	4.59	3.55	3.25	3.2	4.49	4.27	2.88	3.25	4.18	1.71
Deferred income tax	2.1	-0.09	0.18	1.26	2.25	1.13	2.87	1.12	0.78	0.78
Cash from operations	5.59	9.83	14.4	16	15.5	2.82	8.53	13.7	14.3	6.13
Capital expenditures	-26.4	-21.7	-22.6	-25.2	-22.3	-20.9	-22.6	-21.3	-57.2
Purchases of investments	-5.98	-52.7	-28.4	-28.2	-5.61	-14.6	-63.9	-132	-74	-32.4
Sales and maturities of investments	11.8	8.13	35.2	53.4	41.8	6.25	41.1	134	92.6	31.6
Cash from investing	-10.2	-68.2	-13.2	0.83	19.8	-14.7	-1.89	-14	-25.7	-62.3
Debt issued	0					0	49.1	0	0
Debt repaid	-0.82	-3.91	-4.05	-4	-4.82	-4.3	-51.7	-50.4	0	0
Stock issued	0	89.9	-0.17	0	0
Cash from financing	3.99	77.2	-5.31	-5.68	-7.05	-6.09	-4.42	-6.87	18.8	26.4
Net change in cash	-0.67	18.8	-4.2	11.2	28.2	-17.9	2.22	-7.21	7.36	-29.7
Free cash flow	-20.8	-11.9	-8.23	-9.18	-6.78	-18.1	-14.1	-7.67	-42.9
Income taxes paid	1.14	-0.12	0	4.65	0	0.73	8.24	2.56	0.32

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $17.71 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.1%	Gross profit / revenue.
Operating margin	5.8%	Operating income / revenue.
EBITDA margin	16.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	19.1%	Pre-tax income / revenue.
Net margin	11.4%	Net income / revenue.
Operating cash flow margin	25.9%	Cash from operations / revenue.
Effective tax rate	40.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	1.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.2%	Net income / average total assets.
Return on invested capital (ROIC)	0.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	2.7%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	10.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	18.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-14.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	13.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-22.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-97.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-83.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-100.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-57.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-10.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-16.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	0.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.85x	Current assets / current liabilities.
Quick ratio	1.43x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.54x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	23.2%	Total liabilities / total assets.
Working capital	$13.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	2.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	$464.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.10x	Revenue / average total assets.
Fixed asset turnover	1.11x	Revenue / average property, plant and equipment.
Receivables turnover	4.65x	Revenue / average receivables.
Days sales outstanding	78 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.28	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$2.49	Revenue / diluted weighted shares.
Operating cash flow per share	$0.65	Cash from operations / diluted weighted shares.
Book value per share	$17.82	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$17.20	Tangible book value / shares outstanding.
Cash per share	$0.33	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$478.5M	Share price x shares outstanding.
Enterprise value	$469.8M	Market cap + total debt - cash - short-term investments.
P/E	62.4x	Market cap / net income. Only when net income is positive.
P/S	7.09x	Market cap / revenue.
P/B	0.99x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.03x	Market cap / tangible book value, when positive.
P/OCF	27.4x	Market cap / cash from operations, when positive.
EV/Sales	6.96x	Enterprise value / revenue.
EV/EBIT	121x	Enterprise value / operating income, when both are positive.
EV/EBITDA	42.4x	Enterprise value / EBITDA, when both are positive.
Earnings yield	1.6%	Net income / market cap (the inverse of P/E).

What was TEJON RANCH CO's revenue in fiscal 2025?

TEJON RANCH CO reported revenue of $49.6M for fiscal 2025, 18.4% higher than the year before.

Was TEJON RANCH CO profitable in fiscal 2025?

Yes. Net income was $75.0K, a net margin of 0.2%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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