What is Essential Properties Realty Trust's earnings per share (EPS)?

Essential Properties Realty Trust (EPRT) reported diluted earnings per share of $1.28 for fiscal year 2025. This represents a 11.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Essential Properties Realty Trust Financials

EPRT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Essential Properties Realty Trust (EPRT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 72/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Essential Properties Realty Trust has an operating margin of 64.1%, meaning the company retains $64 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 61.9% the prior year.

Growth

Essential Properties Realty Trust's revenue surged 24.8% year-over-year to $561.2M, reflecting rapid business expansion. This strong growth earns a score of 75/100.

Leverage

Essential Properties Realty Trust carries a low D/E ratio of 0.60, meaning only $0.60 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.

Returns

Essential Properties Realty Trust generates a 6.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100. This is up from 5.7% the prior year.

Piotroski F-Score Neutral

5/9

Essential Properties Realty Trust passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.51x

For every $1 of reported earnings, Essential Properties Realty Trust generates $1.51 in operating cash flow ($381.1M OCF vs $253.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.3x

Essential Properties Realty Trust earns $3.3 in operating income for every $1 of interest expense ($359.9M vs $108.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$561.2M

YoY+24.8%

5Y CAGR+27.9%

Essential Properties Realty Trust generated $561.2M in revenue in fiscal year 2025. This represents an increase of 24.8% from the prior year.

EBITDA

$507.6M

YoY+29.0%

5Y CAGR+32.4%

Essential Properties Realty Trust's EBITDA was $507.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.0% from the prior year.

Net Income

$253.0M

YoY+24.6%

5Y CAGR+43.0%

Essential Properties Realty Trust reported $253.0M in net income in fiscal year 2025. This represents an increase of 24.6% from the prior year.

EPS (Diluted)

$1.28

YoY+11.3%

5Y CAGR+23.8%

Essential Properties Realty Trust earned $1.28 per diluted share (EPS) in fiscal year 2025. This represents an increase of 11.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$60.2M

YoY+47.8%

5Y CAGR+17.7%

Essential Properties Realty Trust held $60.2M in cash against $2.5B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

210M

YoY+11.8%

5Y CAGR+14.6%

Essential Properties Realty Trust had 210M shares outstanding in fiscal year 2025. This represents an increase of 11.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

64.1%

YoY+2.3pp

5Y CAGR+19.7pp

Essential Properties Realty Trust's operating margin was 64.1% in fiscal year 2025, reflecting core business profitability. This is up 2.3 percentage points from the prior year.

Net Margin

45.1%

YoY-0.1pp

5Y CAGR+19.3pp

Essential Properties Realty Trust's net profit margin was 45.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.1 percentage points from the prior year.

Return on Equity

6.0%

YoY+0.3pp

5Y CAGR+3.3pp

Essential Properties Realty Trust's ROE was 6.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

EPRT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$561.2M+24.8%	$449.6M+25.0%	$359.6M+25.5%	$286.5M+24.4%	$230.2M+40.4%	$164.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$40.9M+16.2%	$35.2M+14.6%	$30.7M+4.1%	$29.5M+21.1%	$24.3M-0.5%	$24.4M
Operating Income	$359.9M+29.4%	$278.2M+14.6%	$242.8M+38.4%	$175.4M+30.5%	$134.4M+84.6%	$72.8M
Interest Expense	$108.1M+37.6%	$78.5M+49.3%	$52.6M+30.3%	$40.4M+20.1%	$33.6M+13.4%	$29.7M
Income Tax	$644K+2.5%	$628K-1.3%	$636K-36.3%	$998K+339.6%	$227K+7.1%	$212K
Net Income	$253.0M+24.6%	$203.0M+6.4%	$190.7M+42.2%	$134.1M+40.1%	$95.7M+126.4%	$42.3M
EPS (Diluted)	$1.28+11.3%	$1.15-7.3%	$1.24+25.3%	$0.99+20.7%	$0.82+86.4%	$0.44

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$149.9M+3.4%	$144.9M+5.7%	$137.1M+6.0%	$129.4M+8.1%	$119.7M+2.2%	$117.1M+7.2%	$109.3M+5.6%	$103.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$8.4M-17.3%	$10.2M-4.3%	$10.7M-7.6%	$11.5M+36.3%	$8.5M-1.8%	$8.6M-1.0%	$8.7M-6.9%	$9.4M
Operating Income	$98.8M+5.4%	$93.7M+6.7%	$87.8M+10.3%	$79.6M+0.7%	$79.1M+13.1%	$69.9M+4.7%	$66.8M+7.1%	$62.4M
Interest Expense	$30.9M+9.2%	$28.3M+13.4%	$25.0M+5.1%	$23.8M-0.7%	$24.0M+10.8%	$21.6M+24.6%	$17.4M+11.3%	$15.6M
Income Tax	$160K-5.9%	$170K+9.0%	$156K-1.3%	$158K0.0%	$158K-0.6%	$159K+2.6%	$155K-0.6%	$156K
Net Income	$68.1M+3.7%	$65.6M+3.8%	$63.2M+12.7%	$56.1M+1.3%	$55.4M+12.7%	$49.1M-4.6%	$51.5M+9.7%	$47.0M
EPS (Diluted)	N/A	$0.33+3.1%	$0.32+10.3%	$0.29	N/A	$0.27-6.9%	$0.29+3.6%	$0.28

EPRT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$6.9B+18.4%	$5.8B+21.6%	$4.8B+19.2%	$4.0B+21.3%	$3.3B+32.5%	$2.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$60.2M+47.8%	$40.7M+2.3%	$39.8M-36.2%	$62.3M+4.3%	$59.8M+124.6%	$26.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7B+19.2%	$2.2B+25.0%	$1.8B+18.5%	$1.5B+19.8%	$1.3B+38.4%	$906.9M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.5B+18.8%	$2.1B+26.8%	$1.7B+17.5%	$1.4B+21.8%	$1.2B+43.0%	$821.2M
Total Equity	$4.2B+17.9%	$3.6B+19.6%	$3.0B+19.7%	$2.5B+22.2%	$2.0B+29.3%	$1.6B
Retained Earnings	-$109.3M+3.6%	-$113.3M-7.3%	-$105.5M+9.9%	-$117.2M-16.0%	-$101.0M-30.0%	-$77.7M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$6.9B+3.8%	$6.6B+5.1%	$6.3B+3.8%	$6.1B+4.5%	$5.8B+4.8%	$5.5B+5.0%	$5.3B+5.1%	$5.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$60.2M+152.4%	$23.8M+14.8%	$20.8M-55.8%	$47.0M+15.4%	$40.7M+24.7%	$32.7M+38.6%	$23.6M-70.2%	$79.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7B-4.0%	$2.8B+12.8%	$2.5B+9.8%	$2.2B+0.3%	$2.2B-4.5%	$2.3B+15.7%	$2.0B+14.1%	$1.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.5B-4.5%	$2.6B+13.7%	$2.3B+9.4%	$2.1B0.0%	$2.1B-3.6%	$2.2B+14.8%	$1.9B+14.6%	$1.7B
Total Equity	$4.2B+9.5%	$3.8B+0.2%	$3.8B+0.4%	$3.8B+7.1%	$3.6B+11.6%	$3.2B-1.6%	$3.2B+0.1%	$3.2B
Retained Earnings	-$109.3M+2.6%	-$112.2M+5.1%	-$118.2M+3.0%	-$121.9M-7.6%	-$113.3M-0.1%	-$113.2M-1.7%	-$111.4M+0.5%	-$111.9M

EPRT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$381.1M+23.5%	$308.5M+21.2%	$254.6M+20.6%	$211.0M+26.1%	$167.4M+68.4%	$99.4M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1.2B-2.7%	-$1.1B-31.0%	-$857.1M-21.4%	-$706.1M+14.9%	-$829.7M-52.1%	-$545.5M
Financing Cash Flow	$798.4M-1.5%	$810.7M+39.8%	$580.0M+14.4%	$506.8M-26.5%	$689.1M+50.5%	$457.8M
Dividends Paid	$233.9M+17.2%	$199.7M+18.7%	$168.2M+18.7%	$141.7M+26.1%	$112.3M+29.9%	$86.5M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$105.1M+6.2%	$99.0M-0.8%	$99.8M+29.3%	$77.2M-11.4%	$87.1M+18.4%	$73.5M-9.4%	$81.1M+21.5%	$66.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$237.3M+31.4%	-$345.8M-20.5%	-$286.9M-1.0%	-$284.1M-3.4%	-$274.7M+4.5%	-$287.6M+12.9%	-$330.2M-43.1%	-$230.7M
Financing Cash Flow	$178.6M-28.4%	$249.6M+54.9%	$161.2M-22.9%	$209.0M+7.8%	$193.9M-15.1%	$228.3M+17.4%	$194.4M+0.1%	$194.2M
Dividends Paid	$59.8M0.0%	$59.8M+2.0%	$58.7M+5.5%	$55.6M+8.8%	$51.1M0.0%	$51.1M+1.8%	$50.2M+6.5%	$47.2M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EPRT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	64.1%+2.3pp	61.9%-5.6pp	67.5%+6.3pp	61.2%+2.8pp	58.4%+14.0pp	44.4%
Net Margin	45.1%-0.1pp	45.1%-7.9pp	53.0%+6.2pp	46.8%+5.2pp	41.6%+15.8pp	25.8%
Return on Equity	6.0%+0.3pp	5.7%-0.7pp	6.4%+1.0pp	5.4%+0.7pp	4.7%+2.0pp	2.7%
Return on Assets	3.7%+0.2pp	3.5%-0.5pp	4.0%+0.6pp	3.4%+0.5pp	2.9%+1.2pp	1.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.600.0	0.60+0.0	0.56-0.0	0.570.0	0.58+0.1	0.52
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	65.9%+1.2pp	64.7%+0.6pp	64.1%+2.5pp	61.6%-4.5pp	66.1%+6.4pp	59.7%-1.4pp	61.1%+0.9pp	60.3%
Net Margin	45.4%+0.1pp	45.3%-0.8pp	46.1%+2.7pp	43.4%-2.9pp	46.3%+4.3pp	41.9%-5.2pp	47.1%+1.8pp	45.4%
Return on Equity	1.6%-0.1pp	1.7%+0.1pp	1.7%+0.2pp	1.5%-0.1pp	1.6%0.0pp	1.5%-0.1pp	1.6%+0.1pp	1.5%
Return on Assets	1.0%0.0pp	1.0%-0.0pp	1.0%+0.1pp	0.9%-0.0pp	0.9%+0.1pp	0.9%-0.1pp	1.0%+0.0pp	0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.60-0.1	0.69+0.1	0.61+0.1	0.56-0.0	0.60-0.1	0.69+0.1	0.59+0.1	0.52
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Essential Properties Realty Trust's annual revenue?

Essential Properties Realty Trust (EPRT) reported $561.2M in total revenue for fiscal year 2025. This represents a 24.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Essential Properties Realty Trust's revenue growing?

Essential Properties Realty Trust (EPRT) revenue grew by 24.8% year-over-year, from $449.6M to $561.2M in fiscal year 2025.

Is Essential Properties Realty Trust profitable?

Yes, Essential Properties Realty Trust (EPRT) reported a net income of $253.0M in fiscal year 2025, with a net profit margin of 45.1%.

What is Essential Properties Realty Trust's EBITDA?

Essential Properties Realty Trust (EPRT) had EBITDA of $507.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Essential Properties Realty Trust have?

As of fiscal year 2025, Essential Properties Realty Trust (EPRT) had $60.2M in cash and equivalents against $2.5B in long-term debt.

What is Essential Properties Realty Trust's operating margin?

Essential Properties Realty Trust (EPRT) had an operating margin of 64.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Essential Properties Realty Trust's net profit margin?

Essential Properties Realty Trust (EPRT) had a net profit margin of 45.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Essential Properties Realty Trust's return on equity (ROE)?

Essential Properties Realty Trust (EPRT) has a return on equity of 6.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Essential Properties Realty Trust's operating cash flow?

Essential Properties Realty Trust (EPRT) generated $381.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Essential Properties Realty Trust's total assets?

Essential Properties Realty Trust (EPRT) had $6.9B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Essential Properties Realty Trust have outstanding?

Essential Properties Realty Trust (EPRT) had 210M shares outstanding as of fiscal year 2025.

What is Essential Properties Realty Trust's debt-to-equity ratio?

Essential Properties Realty Trust (EPRT) had a debt-to-equity ratio of 0.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Essential Properties Realty Trust's return on assets (ROA)?

Essential Properties Realty Trust (EPRT) had a return on assets of 3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Essential Properties Realty Trust's Piotroski F-Score?

Essential Properties Realty Trust (EPRT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Essential Properties Realty Trust's earnings high quality?

Essential Properties Realty Trust (EPRT) has an earnings quality ratio of 1.51x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Essential Properties Realty Trust cover its interest payments?

Essential Properties Realty Trust (EPRT) has an interest coverage ratio of 3.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Essential Properties Realty Trust?

Essential Properties Realty Trust (EPRT) scores 72 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.