NYSE · Financial Statements

Essential Properties Realty Trust, Inc. (EPRT) Financial Statements

$31.18 NYSE: EPRT Market Cap $6.74B

Essential Properties Realty Trust, Inc. most recently reported annual revenue of $562.0M, net profit of $253.0M. Revenue grew at an average annual rate of 27.9% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Essential Properties Realty Trust, Inc.: Revenue rose from $16.0M in 2016 to $562.0M in 2025, a change of +3412.5% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 33.2% to 64.5%, a shift of +31.3 percentage points; the most recent year shows net profit of $253.0M.

Income Statement — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	$16.0M	$54.0M	$96.0M	$139.0M	$164.0M	$230.0M	$287.0M	$360.0M	$450.0M	$562.0M
Operating Expenses	$10.0M	$30.0M	$76.0M	$60.0M	$91.0M	$96.0M	$111.0M	$117.0M	$171.0M	$199.0M
Operating Profit	$5.0M	$24.0M	$20.0M	$80.0M	$73.0M	$134.0M	$175.0M	$243.0M	$278.0M	$362.0M
Operating Margin	33.2%	45.0%	20.6%	57.3%	44.4%	58.4%	61.2%	67.5%	61.9%	64.5%
Other Income	$-1.0M	$-18.0M	$-29.0M	$-31.0M	$-30.0M	$-38.0M	$-40.0M	$-51.0M	$-74.0M	$-108.0M
Interest	$0	$23.0M	$30.0M	$27.0M	$30.0M	$34.0M	$40.0M	$53.0M	$79.0M	$115.0M
Depreciation	$5.0M	$30.0M	$48.0M	$43.0M	$59.0M	$69.0M	$89.0M	$102.0M	$122.0M	$154.0M
Profit Before Tax	$4.0M	$6.0M	$21.0M	$48.0M	$43.0M	$96.0M	$136.0M	$192.0M	$204.0M	$254.0M
Tax	$0	$2.5M	$940,000	$630,000	$500,000	$240,000	$740,000	$330,000	$310,000	$250,000
Net Profit	$4.0M	$6.0M	$16.0M	$42.0M	$42.0M	$96.0M	$134.0M	$191.0M	$203.0M	$253.0M
EPS	$0.09	$0.47	$0.36	$0.63	$0.44	$0.82	$0.99	$1.24	$1.15	$1.28
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Jun '23	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26
Revenue	$87.0M	$92.0M	$98.0M	$104.0M	$109.0M	$117.0M	$120.0M	$129.0M	$137.0M	$145.0M	$151.0M	$161.0M
Operating Expenses	$22.0M	$27.0M	$33.0M	$41.0M	$42.0M	$47.0M	$41.0M	$50.0M	$49.0M	$51.0M	$49.0M	$58.0M
Operating Profit	$65.0M	$64.0M	$65.0M	$62.0M	$67.0M	$70.0M	$79.0M	$80.0M	$88.0M	$94.0M	$101.0M	$103.0M
Operating Margin	74.9%	70.3%	66.1%	60.3%	61.1%	59.7%	66.1%	61.5%	64.1%	64.7%	67.3%	63.9%
Interest	$12.0M	$13.0M	$16.0M	$16.0M	$17.0M	$22.0M	$24.0M	$24.0M	$25.0M	$33.0M	$34.0M	$31.0M
Profit Before Tax	$53.0M	$46.0M	$49.0M	$47.0M	$52.0M	$49.0M	$56.0M	$56.0M	$64.0M	$66.0M	$68.0M	$60.0M
Tax	$300,000	$350,000	$330,000	$330,000	$300,000	$320,000	$280,000	$280,000	$250,000	$260,000	$230,000	$270,000
Net Profit	$53.0M	$46.0M	$49.0M	$47.0M	$52.0M	$49.0M	$55.0M	$56.0M	$63.0M	$66.0M	$68.0M	$60.0M
EPS	$0.35	$0.29	$0.31	$0.28	$0.29	$0.27	$0.30	$0.29	$0.32	$0.33	$0.34	$0.28

Over the 10 years reported for Essential Properties Realty Trust, Inc., borrowings increased from $273.0M in 2016 to $2.5B in 2025, cash stood at $60.0M in the latest year, shareholders' equity was $2.0M, current assets covered current liabilities 6.16 times.

Balance Sheet — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	$466.0M	$942.0M	$1.4B	$2.0B	$2.5B	$3.3B	$4.0B	$4.8B	$5.8B	$6.9B
Current Assets	$14.0M	$32.0M	$56.0M	$157.0M	$104.0M	$348.0M	$418.0M	$164.0M	$580.0M	$653.0M
Cash	$2.0M	$7.0M	$4.0M	$8.0M	$27.0M	$60.0M	$62.0M	$40.0M	$41.0M	$60.0M
Inventory	$0	$4.0M	$18.0M	$1.0M	$0	$15.0M	$5.0M	$7.0M	$10.0M	$0
Receivables	$1.0M	$8.0M	$32.0M	$37.0M	$54.0M	$273.0M	$342.0M	$108.0M	$525.0M	$632.0M
Fixed Assets	$396.0M	$854.0M	$1.3B	$1.8B	$2.2B	$0	$0	$4.3B	$0	$0
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$-863.0M	$-1.8B	$-2.7B	$3.0M	$6.0M	$0	$0	$31.0M	$50.0M	$6.2B
Other Assets	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$292.0M	$761.0M	$570.0M	$773.0M	$907.0M	$1.3B	$1.5B	$1.8B	$2.2B	$2.7B
Current Liabilities	$2.0M	$7.0M	$18.0M	$37.0M	$34.0M	$65.0M	$69.0M	$71.0M	$91.0M	$106.0M
Borrowings	$273.0M	$742.0M	$540.0M	$727.0M	$863.0M	$1.2B	$1.4B	$1.7B	$2.1B	$2.5B
Other Liabilities	$19.0M	$19.0M	$30.0M	$46.0M	$44.0M	$64.0M	$59.0M	$90.0M	$98.0M	$133.0M
Equity	$175.0M	$181.0M	$0	$1.0M	$1.0M	$1.0M	$1.0M	$2.0M	$2.0M	$2.0M
Reserves	$175.0M	$181.0M	$562.0M	$1.2B	$1.6B	$2.0B	$2.5B	$3.0B	$3.6B	$4.2B

For Essential Properties Realty Trust, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $381.0M; free cash flow was positive in 10 of 10 years; financing activities used $16.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$11.0M	$22.0M	$46.0M	$89.0M	$99.0M	$167.0M	$211.0M	$255.0M	$308.0M	$381.0M
Investing Cash Flow	$-279.0M	$-464.0M	$-464.0M	$-608.0M	$-546.0M	$-830.0M	$-706.0M	$-857.0M	$-1.1B	$-1.2B
Financing Cash Flow	$291.0M	$78.0M	$-189.0M	$-8.0M	$-3.0M	$-4.0M	$-9.0M	$-7.0M	$-4.0M	$-16.0M
Net Cash Flow	$12.0M	$8.0M	$-3.0M	$5.0M	$12.0M	$27.0M	$12.0M	$-23.0M	$-4.0M	$25.0M
Free Cash Flow	$11.0M	$22.0M	$44.0M	$89.0M	$99.0M	$167.0M	$211.0M	$255.0M	$308.0M	$381.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	3.22
EV / EBITDA	17.39
FCF Yield	-6.85%
Quick Ratio	736.22
Interest Coverage	3.14
Return 1Y	-2.52%
Return 3Y	35.32%
Return 5Y	17.60%

Essential Properties Realty Trust, Inc. (EPRT) financials — frequently asked questions

What is Essential Properties Realty Trust, Inc.'s annual revenue?

Essential Properties Realty Trust, Inc. (EPRT) reported annual revenue of $562.0M in its most recent fiscal year.

What is Essential Properties Realty Trust, Inc.'s net profit?

Essential Properties Realty Trust, Inc. (EPRT) reported net profit of $253.0M in its most recent fiscal year.

What is EPRT EV/EBITDA?

Essential Properties Realty Trust, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 17.39.

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