Essential Properties Realty Trust, Inc. (EPRT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EPRT SEC filings page.
Essential Properties Realty Trust, Inc. (EPRT) reported $615.5M in revenue over the twelve months to Jun 30, 2026, up 22.3% from the prior twelve months. This page shows its 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).
The numbers describe a property-heavy, externally financed growth model: cash generation rises, but acquisitions and debt expand alongside earnings.
Operating margin climbed from58.4% in FY2021 to67.5% in FY2023, signaling improved operating economics before moderating. By FY2025, operating margin was64.1% while net margin was45.1% ; that gap indicates financing and other below-operating costs absorbed part of the operating improvement.
FY2025 assets reached
FY2025 operating cash flow of
Financial Health Signals
Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Essential Properties Realty Trust, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Essential Properties Realty Trust, Inc. scores 98/100 on it among other REITs.
FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Essential Properties Realty Trust, Inc. scores 78/100 on it among other REITs.
Essential Properties Realty Trust, Inc.'s net debt of $2.5B, being $2.5B of long-term debt less $60.2M of cash, came to 4.87 times its EBITDA in fiscal year 2025. REITs are ranked here on that debt against their EBITDA, where a lower multiple is the safer one, and Essential Properties Realty Trust, Inc. scores 54/100 among other REITs.
Essential Properties Realty Trust, Inc.'s operating income of $359.9M covered its interest expense of $108.1M 3.33 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Essential Properties Realty Trust, Inc. scores 78/100 among other REITs.
AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Essential Properties Realty Trust, Inc. scores 98/100 on it among other REITs.
Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Essential Properties Realty Trust, Inc. scores 65/100 on it among other REITs.
Essential Properties Realty Trust, Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 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.
For every $1 of reported earnings, Essential Properties Realty Trust, Inc. 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.
Essential Properties Realty Trust, Inc. earns $3.33 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
Earnings & Revenue
Essential Properties Realty Trust, Inc. generated $161.9M in revenue in Q2 2026. This represents an increase of 18.1% from the same quarter a year earlier. Against the prior quarter it is up 1.9%.
Essential Properties Realty Trust, Inc.'s EBITDA was $147.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.3% from the same quarter a year earlier. Against the prior quarter it is up 12.9%.
Essential Properties Realty Trust, Inc. reported $74.3M in net income in Q2 2026. This represents an increase of 17.5% from the same quarter a year earlier. Against the prior quarter it is up 24.2%.
Essential Properties Realty Trust, Inc. earned $0.34 per diluted share (EPS) in Q2 2026. This represents an increase of 6.3% from the same quarter a year earlier. Against the prior quarter it is up 21.4%.
Cash & Balance Sheet
Essential Properties Realty Trust, Inc. held $126.2M in cash against $2.9B in long-term debt as of Q2 2026.
Essential Properties Realty Trust, Inc. paid $0.32 per share in dividends in Q2 2026. This represents an increase of 6.7% from the same quarter a year earlier. Against the prior quarter it is up 3.2%.
Not reported for Q2 2026.
Margins & Returns
Essential Properties Realty Trust, Inc.'s operating margin was 64.5% in Q2 2026, reflecting core business profitability. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.1 percentage points.
Essential Properties Realty Trust, Inc.'s net profit margin was 45.9% in Q2 2026, showing the share of revenue converted to profit. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.2 percentage points.
Essential Properties Realty Trust, Inc.'s ROE was 1.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
EPRT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $161.9M+18.1% | $158.8M+22.8% | $149.9M+25.2% | $144.9M+23.7% | $137.1M+25.4% | $129.4M+25.0% | $119.7M+22.5% | $117.1M+27.8% |
| SG&A Expenses | $10.9M+2.3% | $12.3M+6.8% | $8.4M-0.4% | $10.2M+18.4% | $10.7M+22.5% | $11.5M+23.3% | $8.5M+15.5% | $8.6M+20.2% |
| Operating Income | $104.4M+18.9% | $89.6M+12.6% | $98.8M+24.8% | $93.7M+34.1% | $87.8M+31.5% | $79.6M+27.6% | $79.1M+22.5% | $69.9M+19.2% |
| EBITDA | $147.8M+18.3% | $130.9M+15.7% | $138.2M+25.2% | $131.2M+32.5% | $125.0M+31.8% | $113.2M+26.8% | $110.4M+22.2% | $99.1M+19.1% |
| Interest Expense | $30.3M+21.1% | $29.9M+25.9% | $30.9M+29.2% | $28.3M+31.1% | $25.0M+44.0% | $23.8M+52.5% | $24.0M+52.0% | $21.6M+71.2% |
| Income Tax | $635K+307.1% | $160K+1.3% | $160K+1.3% | $170K+6.9% | $156K+0.6% | $158K+1.3% | $158K-2.5% | $159K-1.9% |
| Net Income | $74.3M+17.5% | $59.8M+6.6% | $68.1M+22.9% | $65.6M+33.5% | $63.2M+22.7% | $56.1M+19.4% | $55.4M+12.8% | $49.1M+7.0% |
| EPS (Basic) | $0.34+6.3% | $0.28-6.7% | $0.34+9.7% | $0.33+17.9% | $0.32+10.3% | $0.30+7.1% | $0.310.0% | $0.28-3.4% |
| EPS (Diluted) | $0.34+6.3% | $0.28-3.4% | $0.34+9.7% | $0.33+22.2% | $0.32+10.3% | $0.29+3.6% | $0.31+3.3% | $0.27-6.9% |
| Diluted Shares (Avg) | 218M+9.2% | 212M+11.1% | N/A | 200M+11.3% | 200M+12.4% | 191M+13.1% | N/A | 180M+14.3% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
EPRT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.5B+19.1% | $7.2B+18.1% | $6.9B+18.4% | $6.6B+19.5% | $6.3B+19.4% | $6.1B+20.8% | $5.8B+21.6% | $5.5B+22.6% |
| Cash & Equivalents | $126.2M+507.2% | $15.2M-67.7% | $60.2M+47.8% | $23.8M-27.0% | $20.8M-11.8% | $47.0M-40.6% | $40.7M+2.3% | $32.7M-9.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.0B+23.9% | $2.8B+23.4% | $2.7B+19.2% | $2.8B+18.7% | $2.5B+21.7% | $2.2B+26.5% | $2.2B+25.0% | $2.3B+39.2% |
| Long-Term Debt | $2.9B+25.8% | $2.6B+23.5% | $2.5B+18.8% | $2.6B+19.9% | $2.3B+21.0% | $2.1B+26.8% | $2.1B+26.8% | $2.2B+37.7% |
| Total Equity | $4.4B+15.1% | $4.4B+15.1% | $4.2B+17.9% | $3.8B+20.1% | $3.8B+18.1% | $3.8B+17.8% | $3.6B+19.6% | $3.2B+12.9% |
| Retained Earnings | -$119.8M-1.3% | -$124.8M-2.4% | -$109.3M+3.6% | -$112.2M+0.9% | -$118.2M-6.1% | -$121.9M-8.9% | -$113.3M-7.3% | -$113.2M-5.2% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.
EPRT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $110.2M+10.4% | $99.8M+29.3% | $105.1M+20.8% | $99.0M+34.6% | $99.8M+23.0% | $77.2M+15.6% | $87.1M+19.9% | $73.5M+16.9% |
| Depreciation & Amortization | $43.4M+16.7% | $41.2M+22.9% | $39.5M+25.9% | $37.5M+28.6% | $37.1M+32.6% | $33.5M+24.9% | $31.3M+21.5% | $29.2M+18.9% |
| Stock-Based Compensation | N/A | $4.2M+5.0% | N/A | N/A | N/A | $4.0M+34.7% | N/A | N/A |
| Investing Cash Flow | -$213.3M+25.7% | -$373.0M-31.3% | -$237.3M+13.6% | -$345.8M-20.2% | -$286.9M+13.1% | -$284.1M-23.1% | -$274.7M+4.3% | -$287.6M-58.5% |
| Financing Cash Flow | $221.2M+37.2% | $219.0M+4.8% | $178.6M-7.9% | $249.6M+9.3% | $161.2M-17.1% | $209.0M+7.6% | $193.9M-12.4% | $228.3M+55.9% |
| Dividends Paid | $67.6M+15.2% | $65.4M+17.6% | $59.8M+17.1% | $59.8M+17.0% | $58.7M+16.8% | $55.6M+17.9% | $51.1M+16.3% | $51.1M+17.0% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
EPRT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 64.5%+0.4pp | 56.5%-5.1pp | 65.9%-0.2pp | 64.7%+5.0pp | 64.1%+2.9pp | 61.6%+1.3pp | 66.1%0.0pp | 59.7%-4.3pp |
| Net Margin | 45.9%-0.2pp | 37.6%-5.7pp | 45.4%-0.8pp | 45.3%+3.3pp | 46.1%-1.0pp | 43.4%-2.0pp | 46.3%-4.0pp | 41.9%-8.1pp |
| Return on Equity | 1.7%0.0pp | 1.4%-0.1pp | 1.6%+0.1pp | 1.7%+0.2pp | 1.7%+0.1pp | 1.5%0.0pp | 1.6%-0.1pp | 1.5%-0.1pp |
| Return on Assets | 1.0%0.0pp | 0.8%-0.1pp | 1.0%0.0pp | 1.0%+0.1pp | 1.0%0.0pp | 0.9%0.0pp | 0.9%-0.1pp | 0.9%-0.1pp |
| Debt-to-Equity | 0.66+0.1x | 0.600.0x | 0.600.0x | 0.690.0x | 0.610.0x | 0.560.0x | 0.600.0x | 0.69+0.1x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x |
Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Essential Properties Realty Trust, Inc. EPRT | FY2025 | $561.2M | $253.0M | 45.1% | $5.5B | 79/100 |
| NNN REIT, Inc. NNN | FY2025 | $926.2M | $389.8M | 42.1% | $7.9B | 75/100 |
| Kite Realty Group Trust KRG | FY2025 | $844.4M | $298.7M | 35.4% | $4.9B | 41/100 |
| The Macerich Company MAC | FY2025 | $1.0B | -$197.1M | -19.4% | $6.5B | 50/100 |
| Phillips Edison & Company, Inc. PECO | FY2025 | $726.6M | $111.3M | 15.3% | $4.9B | 48/100 |
| Agree Realty Corporation ADC | FY2025 | $718.4M | $204.3M | 28.4% | $8.2B | 47/100 |
Where Essential Properties Realty Trust, Inc. Ranks
Frequently Asked Questions
What is Essential Properties Realty Trust, Inc.'s annual revenue?
Essential Properties Realty Trust, Inc. (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, Inc.'s revenue growing?
Essential Properties Realty Trust, Inc. (EPRT) revenue grew by 24.8% year-over-year, from $449.6M to $561.2M in fiscal year 2025.
Is Essential Properties Realty Trust, Inc. profitable?
Yes, Essential Properties Realty Trust, Inc. (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, Inc.'s EBITDA?
Essential Properties Realty Trust, Inc. (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, Inc. have?
As of fiscal year 2025, Essential Properties Realty Trust, Inc. (EPRT) had $60.2M in cash and equivalents against $2.5B in long-term debt.
What is Essential Properties Realty Trust, Inc.'s operating margin?
Essential Properties Realty Trust, Inc. (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, Inc.'s net profit margin?
Essential Properties Realty Trust, Inc. (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, Inc.'s return on equity (ROE)?
Essential Properties Realty Trust, Inc. (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, Inc.'s operating cash flow?
Essential Properties Realty Trust, Inc. (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, Inc.'s total assets?
Essential Properties Realty Trust, Inc. (EPRT) had $6.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Essential Properties Realty Trust, Inc.'s debt-to-equity ratio?
Essential Properties Realty Trust, Inc. (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, Inc.'s return on assets (ROA)?
Essential Properties Realty Trust, Inc. (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, Inc.'s P/E ratio?
Essential Properties Realty Trust, Inc. (EPRT) trades at 20.7x earnings, its market capitalization divided by net income of $267.8M net income, trailing 12 months to June 30, 2026. The market capitalization is $5.5B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Essential Properties Realty Trust, Inc.'s price-to-sales ratio?
Essential Properties Realty Trust, Inc. (EPRT) trades at 9.0x sales, its market capitalization divided by revenue of $615.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $5.5B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Essential Properties Realty Trust, Inc.'s Piotroski F-Score?
Essential Properties Realty Trust, Inc. (EPRT) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Essential Properties Realty Trust, Inc.'s earnings high quality?
Essential Properties Realty Trust, Inc. (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, Inc. cover its interest payments?
Essential Properties Realty Trust, Inc. (EPRT) has an interest coverage ratio of 3.33x, 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, Inc.?
Essential Properties Realty Trust, Inc. (EPRT) scores 79 out of 100 on our Financial Health Score, indicating strong standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.