ESSENTIAL PROPERTIES REALTY TRUST, INC. EPRT

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

We are an internally managed real estate company that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to middle-market companies operating service-oriented or experience-based businesses. We have assembled a diversified portfolio using a disciplined strategy that focuses on properties leased to tenants in businesses including, but not limited to:

•Grocery.

We believe that, in general, properties leased to tenants in these industries and similar businesses are essential to the generation of the tenants' sales and profits. We also believe that these businesses have favorable growth potential and, because of their nature, they are more insulated from the competitive pressures presented by e-commerce than many other businesses.

Last close 26.67 2026-10-23
Market cap $5.77B 2026-06-30 share count
52-week range 24.62 - 34.73

Valuation FY2025 figures against the last close

P/S10.3x
P/E20.8x
P/FCF15.1x
EV/EBITDA16.2x
Dividend yield4.1%
Diluted EPS1.28

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $561.2M$449.6M$359.6M$286.5M$230.2M$164.0M$139.4M$96.2M$54.4M—
SG&A $40.9M$35.2M$30.7M$29.5M$24.3M$24.4M$21.7M$13.8M$8.8M—
Total operating expenses $214.1M$177.4M$141.0M$141.7M$105.2M$97.0M$70.5M$51.6M$54.8M—
Operating income $359.9M$278.2M$242.8M$175.4M$134.4M$72.8M$79.8M$50.1M$6.4M—
Interest expense $108.1M$78.5M$52.6M$40.4M$33.6M$29.7M$27.0M$30.2M$22.6M—
Pre-tax income $254.4M$204.3M$192.1M$135.7M$96.4M$42.7M$48.3M$20.8M$6.5M—
Income tax $644.0K$628.0K$636.0K$998.0K$227.0K$212.0K$303.0K$195.0K$161.0K—
Net income $253.0M$203.0M$190.7M$134.1M$95.7M$42.3M$41.8M$15.6M$6.3M—
EPS, basic 1.291.161.250.990.820.440.65———
EPS, diluted 1.281.151.240.990.820.440.63———
Shares, diluted (wtd. avg.) 198.1M177.1M153.5M135.9M117.5M96.2M75.3M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $60.2M$40.7M$39.8M$71.5M$59.8M$33.0M$21.3M$16.2M$19.4M$11.9M
Other intangibles $48.1M$47.6M$47.9M$53.2M$59.0M$57.4M$60.5M$52.8M$53.0M—
Total assets $6.86B$5.80B$4.77B$4.00B$3.30B$2.49B$1.98B$1.38B$942.2M—
Long-term debt $2.53B$2.13B$1.68B$1.43B$1.17B$821.2M$239.1M$515.1M——
Total liabilities $2.66B$2.23B$1.78B$1.50B$1.25B$906.9M$773.3M$569.9M$760.8M—
Retained earnings -$109.3M-$113.3M-$105.5M-$117.2M-$101.0M-$77.7M-$27.5M-$7.7M——
Total equity $4.20B$3.56B$2.99B$2.50B$2.04B$1.58B$1.20B$811.0M$181.4M$174.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $381.1M$308.5M$254.6M$211.0M$167.4M$99.4M$88.6M$45.9M$22.5M—
Depreciation and amortisation $147.6M$115.4M$95.5M$80.6M$61.2M$51.7M$36.4M$24.8M——
Capital expenditure ———————$1.7M$48.0K—
Investing cash flow -$1.15B-$1.12B-$857.1M-$706.1M-$829.7M-$545.5M-$607.8M-$461.9M-$464.4M—
Financing cash flow $798.4M$810.7M$580.0M$506.8M$689.1M$457.8M$524.4M$412.8M$449.4M—
Dividends paid $233.9M$199.7M$168.2M$141.7M$112.3M$86.5M$63.9M$14.1M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001728951-26-000008.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200M 400M 600M Revenue, FY2017: 54.4M Net income, FY2017: 6.3M Revenue, FY2018: 96.2M Net income, FY2018: 15.6M Revenue, FY2019: 139.4M Net income, FY2019: 41.8M Revenue, FY2020: 164M Net income, FY2020: 42.3M Revenue, FY2021: 230.2M Net income, FY2021: 95.7M Revenue, FY2022: 286.5M Net income, FY2022: 134.1M Revenue, FY2023: 359.6M Net income, FY2023: 190.7M Revenue, FY2024: 449.6M Net income, FY2024: 203M Revenue, FY2025: 561.2M Net income, FY2025: 253M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $54.4M $96.2M $139.4M $164.0M $230.2M $286.5M $359.6M $449.6M $561.2M
Gross profit — — — — — — — — — —
Net income — $6.3M $15.6M $41.8M $42.3M $95.7M $134.1M $190.7M $203.0M $253.0M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event Item 8.01
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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