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Tejon Ranch TRC Farming — Direct Operating Costs

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Other financials

Income statement

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Revenue$14.3M+71.7%
Operating income$348.0K+109%
Net income$2.6M+254%
EPS (diluted)$0.10+267%

Balance sheet

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Cash & equivalents$3.9M+54.8%
Total debt$48.6M-3.4%
Total equity$477.6M+1.3%
Total assets$639.5M+3.4%

Cash flow

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Operating cash flow$1.3M+441%
CapEx$1.5M-16.9%
Free cash flow$1.4M+139%

Valuation

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Market cap$444.03M-10.3%
P/E73.6×
P/S7.8×-3.1×

Profitability

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Operating margin-38.9%-41.8pp
Net margin10.6%+9.7pp
FCF margin-10.9%-5.1pp

Returns & leverage

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Return on equity1.3%+1.2pp
Debt / equity0.1×0.0×
Current ratio2.9×+0.7×

Where this comes from

Reported directly by Tejon Ranch in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The source filing: Tejon Ranch’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 2:07 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-054146
($ in thousands)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Farming revenues$750$607$1,645$2,163
Cost of sales1714437901,743
Selling, general and administrative expenses9369128106
Depreciation and amortization257312586680
Direct farming expenses5218241,5042,529
Operating income (loss) from farming before fixed water obligations229(217)141(366)
Fixed water obligations7656731,7711,516
Operating loss from farming$(536)$(890)$(1,630)$(1,882)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Tejon Ranch's farming — direct operating costs?
Tejon Ranch (TRC) reported farming — direct operating costs of $521K in Q2 2026.
What does farming — direct operating costs mean?
This metric captures the total variable and direct expenses incurred in the cultivation, harvesting, and processing of agricultural products. It includes costs such as labor, fertilizers, water usage, and equipment maintenance directly attributable to farming operations. Monitoring these costs is essential for assessing the operational efficiency and cost-management discipline within the agricultural segment.

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