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Tejon Ranch Co., together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through six segments: Real Estate - Commercial/Industrial; Multifamily; Real Estate - Resort/Residential; Mineral Resources; Farming; And Ranch Operations. The Real Estate - Commercial/Industrial segment engages in the planning and permitting of land for development; construction of infrastructure and building, pre-leased buildings, and buildings to be leased or sold; sale of land to third parties for their own development; and activities related to communications leases, a power plant lease, and landscape maintenance. This segment also leases land to various auto service stations with convenience stores, fast-food operations, a motel, an antique shop, and a post office; various microwave repeater locations, radio and cellular transmitter sites, and fiber optic cable routes; and package of land for an electric power plant. The Multifamily segment engages in development, leasing, and long-term ownership of residential rental communities. The Real Estate - Resort/Residential segment engages in land entitlement, planning, pre-construction engineering, stewardship, and conservation activities. The Mineral Resources segment includes oil and gas royalties, rock and aggregate royalties, and royalties from a cement operation leased to National Cement Company of California, Inc.; and the management of water assets and infrastructure projects. The Farming segment farms, produces, and sells wine grapes, almonds, pistachios, hay, and olives. The Ranch Operations segment includes grazing lease and game management, and land maintenance activities, as well as ancillary land uses comprising filming; and guided game hunts. Tejon Ranch Co. was founded in 1843 and is based in Lebec, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $50M | $-2M | $0M | $-65M | 0.0% | 18.4% | -97.2% |
| 2024 | $42M | $-4M | $3M | $-52M | 0.6% | -6.4% | -17.6% |
| 2023 | $45M | $1M | $3M | $-14M | 0.7% | -43.5% | -79.3% |
| 2022 | $79M | $18M | $16M | $-15M | 3.4% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 79.22 | 44.74 | 41.89 | 49.59 |
| Operating Revenue | - | 79.22 | 44.74 | 41.89 | 49.59 |
| Cost Of Revenue | - | 55.79 | 38.57 | 39.99 | 43.48 |
| Gross Profit | - | 23.43 | 6.17 | 1.89 | 6.12 |
| Operating Expense | - | 9.70 | 9.87 | 11.09 | 14.07 |
| Selling General And Administration | 9.84 | 9.70 | - | - | - |
| Total Expenses | - | 65.49 | 48.44 | 51.08 | 57.54 |
| Operating Income | - | 13.73 | -3.70 | -9.20 | -7.95 |
| Total Operating Income As Reported | - | 13.73 | -3.70 | -9.20 | -7.95 |
| EBITDA | - | 18.36 | 1.11 | -4.31 | -1.94 |
| Normalized EBITDA | - | 17.72 | -1.45 | -6.59 | -2.85 |
| EBIT | - | 13.73 | -3.70 | -9.20 | -7.95 |
| Other Non Operating Income Expenses | - | 1.09 | -0.14 | -0.29 | -0.16 |
| Other Income Expense | - | 9.47 | 9.29 | 12.86 | 9.11 |
| Pretax Income | - | 23.20 | 5.59 | 3.66 | 1.16 |
| Tax Provision | - | 7.39 | 2.32 | 0.98 | 1.09 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.20 | 0.54 | 0.60 | 0.19 |
| Net Income Continuous Operations | - | 15.81 | 3.26 | 2.69 | 0.07 |
| Net Income From Continuing And Discontinued Operation | - | 15.81 | 3.26 | 2.69 | 0.08 |
| Net Income From Continuing Operation Net Minority Interest | - | 15.81 | 3.26 | 2.69 | 0.08 |
| Net Income | - | 15.81 | 3.26 | 2.69 | 0.08 |
| Net Income Common Stockholders | - | 15.81 | 3.26 | 2.69 | 0.08 |
| Net Income Including Noncontrolling Interests | - | 15.81 | 3.26 | 2.69 | 0.07 |
| Normalized Income | - | 15.38 | 1.24 | 1.02 | -0.65 |
| Diluted NI Availto Com Stockholders | - | 15.81 | 3.26 | 2.69 | 0.08 |
| Basic Average Shares | - | 26.48 | 26.71 | 26.81 | 26.88 |
| Diluted Average Shares | - | 26.65 | 26.71 | 26.82 | 26.95 |
| Reconciled Depreciation | - | 4.63 | 4.81 | 4.88 | 6.01 |
| Reconciled Cost Of Revenue | - | 55.79 | 38.57 | 39.99 | 43.48 |
| Total Unusual Items | - | 0.63 | 2.56 | 2.27 | 0.91 |
| Total Unusual Items Excluding Goodwill | - | 0.63 | 2.56 | 2.27 | 0.91 |
| Minority Interests | - | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | - | 0.63 | 2.56 | 2.27 | 0.91 |
| General And Administrative Expense | 9.84 | 9.70 | - | - | - |
| Other Gand A | 9.84 | 9.70 | - | - | - |
| Other Operating Expenses | - | 9.70 | 9.87 | 11.09 | 14.07 |
| Earnings From Equity Interest | - | 7.75 | 6.87 | 10.88 | 8.36 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Tejon Ranch Co.this co. | TRC | $515M | 6870.53 | 1.08 | 0.0% | -309.29 |
| Enviri Corporation | NVRI | $554M | -2.43 | -0.91 | 37.5% | 62.25 |
| Ennis, Inc. | EBF | $519M | 12.18 | 1.68 | 13.8% | 7.07 |
| Aspen Aerogels, Inc. | ASPN | $516M | -1.33 | 2.19 | -165.4% | -1.52 |
| FTAI Infrastructure Inc. | FIP | $510M | -4.76 | 23.94 |
| - |
| - |
| - |
| - |
| -502.6% |
| 17.72 |
| American Battery Technology Company | ABAT | $506M | -10.82 | 7.17 | -66.2% | -12.18 |
| Titan International, Inc. | TWI | $502M | -7.91 | 0.98 | -12.3% | 10.69 |
| Park-Ohio Holdings Corp. | PKOH | $477M | 20.04 | 1.25 | 6.2% | 10.57 |
| Pangaea Logistics Solutions Ltd. | PANL | $476M | 24.55 | 1.11 | 4.5% | 6.06 |
| Peer Median | - | -1.88 | 1.47 | -3.9% | 8.82 | |