EPR Properties (EPR) Financials

$58.48 +0.31 (+0.54%)

As of 11:24 AM Eastern

Annual Income Statements for EPR Properties

This table shows EPR Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	171	201	234	243	178	-156	74	152	149	122	251
Consolidated Net Income / (Loss)	195	225	263	267	202	-132	99	176	173	146	275
Net Income / (Loss) Continuing Operations	194	225	225	222	155	-132	99	176	173	146	275
Total Pre-Tax Income	195	226	228	224	152	-115	100	177	175	147	277
Total Operating Income	276	326	362	422	386	52	279	311	306	316	414
Total Gross Profit	398	471	487	640	591	415	532	658	706	698	718
Total Revenue	421	493	518	640	652	415	532	658	706	698	718
Operating Revenue	421	493	518	640	652	415	532	658	706	698	718
Total Cost of Revenue	23	23	31	0.00	61	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	121	145	125	217	206	363	253	347	399	382	304
Selling, General & Admin Expense	32	38	44	49	46	59	66	85	101	107	102
Depreciation Expense	90	108	121	138	159	170	164	164	168	166	169
Other Operating Expenses / (Income)	-	0.00	-	5.94	2.36	98	38	71	60	74	73
Impairment Charge	0.00	0.00	1.90	27	2.21	86	2.71	27	67	52	0.00
Other Special Charges / (Income)	-	-	-42	-3.04	-4.17	-50	-18	-0.65	2.20	-16	-40
Total Other Income / (Expense), net	-81	-100	-134	-198	-234	-167	-179	-133	-132	-168	-137
Interest Expense	99	98	134	168	180	159	174	131	125	131	133
Interest & Investment Income	0.97	0.62	0.07	5.49	-0.38	-7.80	-5.06	-1.67	-6.77	-8.81	-3.79
Other Income / (Expense), net	16	-2.55	-0.52	-36	-53	-	-	-0.65	0.00	-28	0.00
Income Tax Expense	0.48	0.55	2.40	2.29	-3.04	17	1.60	1.24	1.73	1.43	2.50
Preferred Stock Dividends Declared	24	24	29	24	24	24	24	24	24	24	24
Basic Earnings per Share	$2.94	$3.17	$3.29	$3.27	$4.02	($2.05)	$1.00	$2.03	$1.98	$1.61	$3.30
Weighted Average Basic Shares Outstanding	58.14M	63.38M	71.19M	74.29M	76.75M	75.99M	74.76M	74.97M	75.26M	75.64M	76.04M
Diluted Earnings per Share	$2.93	$3.17	$3.29	$3.27	$4.02	($2.05)	$1.00	$2.03	$1.97	$1.60	$3.28
Weighted Average Diluted Shares Outstanding	58.33M	63.47M	71.25M	74.34M	76.78M	75.99M	74.76M	75.04M	75.72M	76.00M	76.50M
Weighted Average Basic & Diluted Shares Outstanding	63.31M	-	74.32M	74.91M	78.58M	74.77M	149.94M	150.58M	151.36M	76.06M	76.52M
Cash Dividends to Common per Share	-	-	$4.08	$4.32	$4.50	$1.52	$1.50	$3.25	$3.30	$3.40	$3.52

This table shows EPR Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	50	39	57	39	41	-14	60	70	61	61	57
Consolidated Net Income / (Loss)	56	46	63	45	47	-8.40	66	76	67	67	63
Net Income / (Loss) Continuing Operations	56	46	63	45	47	-8.40	66	76	67	67	63
Total Pre-Tax Income	57	46	63	46	47	-7.74	66	76	67	68	63
Total Operating Income	87	81	98	79	93	45	102	111	98	104	101
Total Gross Profit	175	187	167	173	181	177	160	178	182	183	181
Total Revenue	189	172	167	173	181	177	175	178	182	183	181
Operating Revenue	189	172	167	173	181	177	175	178	182	183	181
Total Cost of Revenue	15	-15	0.00	0.00	0.00	-	15	0.00	0.00	-	0.00
Total Operating Expenses	87	105	69	94	88	132	58	67	85	79	81
Selling, General & Admin Expense	27	27	27	27	28	26	27	25	25	25	25
Depreciation Expense	42	41	40	41	43	41	41	42	42	44	45
Other Operating Expenses / (Income)	0.00	31	19	15	14	25	0.00	16	25	16	11
Other Special Charges / (Income)	-2.55	3.61	-18	-1.46	3.42	-0.11	-9.38	-17	-8.07	-5.30	-1.03
Total Other Income / (Expense), net	-31	-35	-35	-34	-46	-53	-36	-35	-30	-36	-37
Interest Expense	31	30	32	33	33	33	33	33	33	34	35
Interest & Investment Income	0.53	-4.70	-3.63	-0.91	-0.85	-3.43	-2.65	-1.68	2.93	-2.40	-2.63
Income Tax Expense	0.37	0.67	0.35	0.56	-0.12	0.65	0.14	0.68	0.73	0.95	0.61
Preferred Stock Dividends Declared	6.03	6.04	6.03	6.04	6.03	6.04	6.03	6.04	6.03	6.04	6.03
Basic Earnings per Share	$0.67	$0.52	$0.75	$0.52	$0.54	($0.20)	$0.79	$0.91	$0.80	$0.80	$0.74
Weighted Average Basic Shares Outstanding	75.33M	75.26M	75.40M	75.69M	75.72M	75.64M	75.80M	76.08M	76.13M	76.04M	76.33M
Diluted Earnings per Share	$0.66	$0.52	$0.75	$0.51	$0.53	($0.19)	$0.78	$0.91	$0.79	$0.80	$0.74
Weighted Average Diluted Shares Outstanding	75.82M	75.72M	75.71M	76.02M	76.11M	76.00M	76.22M	76.57M	76.67M	76.50M	76.57M
Weighted Average Basic & Diluted Shares Outstanding	150.66M	151.36M	151.35M	151.44M	75.73M	76.06M	76.07M	76.12M	76.14M	76.52M	76.51M
Cash Dividends to Common per Share	$0.83	-	$0.84	$0.86	$0.86	-	$0.87	$0.89	$0.89	-	$0.90

This table details how cash moves in and out of EPR Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.95	14	30	-40	513	497	-738	-179	-30	-45	63
Net Cash From Operating Activities	278	305	398	484	440	65	307	442	447	393	421
Net Cash From Continuing Operating Activities	278	305	398	484	440	65	308	442	447	392	419
Net Income / (Loss) Continuing Operations	194	225	263	267	202	-132	99	176	173	146	275
Consolidated Net Income / (Loss)	195	225	263	267	202	-132	99	176	173	146	275
Depreciation Expense	90	108	133	153	172	170	164	164	168	166	169
Amortization Expense	4.78	4.97	6.06	5.22	5.85	6.13	7.28	8.01	8.10	8.51	8.48
Non-Cash Adjustments To Reconcile Net Income	-2.53	-2.33	-17	69	40	82	12	57	95	91	-13
Changes in Operating Assets and Liabilities, net	-8.25	-30	13	-10	20	-62	26	38	2.82	-19	-21
Net Cash From Investing Activities	-569	-662	-702	-97	97	134	1.86	-352	-201	-176	-122
Net Cash From Continuing Investing Activities	-569	-662	-702	-97	97	134	0.68	-351	-201	-176	-122
Purchase of Property, Plant & Equipment	-180	-219	-398	-187	-501	-39	-57	-175	-61	-46	-152
Purchase of Investments	-	0.00	0.00	-29	-0.33	-1.69	-14	-26	5.16	9.11	-2.10
Sale of Property, Plant & Equipment	47	24	193	30	220	228	105	12	59	76	143
Sale and/or Maturity of Investments	41	0.00	0.00	366	217	0.00	8.24	6.70	0.55	0.62	28
Other Investing Activities, net	-476	-467	-498	-275	160	-53	-42	-169	-205	-216	-139
Net Cash From Financing Activities	292	371	333	-428	-23	297	-1,047	-269	-276	-262	-237
Net Cash From Continuing Financing Activities	292	371	333	-428	-23	297	-1,047	-269	-276	-262	-237
Repayment of Debt	-510	-880	-838	-987	-913	-168	-1,327	-0.33	-0.37	-215	-1,009
Repurchase of Common Equity	-8.22	-4.21	-6.73	-7.16	-9.69	-7.39	-2.76	-4.26	-3.70	-11	-9.86
Payment of Dividends	-233	-266	-312	-342	-367	-172	-118	-266	-272	-280	-291
Issuance of Debt	857	1,380	1,371	908	962	750	400	0.00	0.00	244	1,072
Issuance of Common Equity	190	143	99	0.96	306	0.97	0.46	0.76	0.62	0.82	0.95
Other Financing Activities, net	-3.39	-1.49	-0.01	-0.06	-0.73	0.00	-0.00	-0.01	0.00	0.00	-0.00
Effect of Exchange Rate Changes	-1.00	-0.13	0.24	-0.44	0.12	0.14	-0.22	-	0.12	-0.45	0.40
Cash Interest Paid	109	107	146	155	149	154	152	127	129	133	135
Cash Income Taxes Paid	1.96	1.68	1.50	1.36	1.84	1.51	1.47	1.28	1.50	2.65	2.88

This table details how cash moves in and out of EPR Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	73	-95	-18	-26	1.63	-2.62	-8.77	1.79	0.97	69	-24
Net Cash From Operating Activities	149	77	100	79	122	93	99	87	136	98	113
Net Cash From Continuing Operating Activities	149	77	100	77	122	93	99	87	136	96	112
Net Income / (Loss) Continuing Operations	56	46	63	45	47	-8.40	66	76	67	67	63
Consolidated Net Income / (Loss)	56	46	63	45	47	-8.40	66	76	67	67	63
Depreciation Expense	42	41	40	41	43	41	41	42	42	44	45
Amortization Expense	1.99	2.11	2.13	2.15	2.13	2.11	2.13	2.02	2.04	2.30	2.59
Non-Cash Adjustments To Reconcile Net Income	40	1.65	-7.71	16	17	65	-5.20	-10	5.64	-0.60	-0.85
Changes in Operating Assets and Liabilities, net	8.64	-13	1.95	-28	14	-7.07	-4.45	-22	19	-16	3.02
Net Cash From Investing Activities	-7.56	-104	-39	-34	-73	-31	42	-13	-36	-115	-51
Net Cash From Continuing Investing Activities	-7.56	-104	-39	-34	-73	-31	42	-13	-36	-115	-51
Purchase of Property, Plant & Equipment	-0.69	-13	-35	-7.35	-0.51	-3.32	-15	-4.87	-4.37	-128	-36
Sale of Property, Plant & Equipment	27	22	46	11	9.56	9.39	71	36	20	16	0.09
Sale and/or Maturity of Investments	0.14	0.14	-	-	0.11	0.16	9.29	0.17	0.18	19	0.12
Other Investing Activities, net	-34	-123	-50	-37	-82	-46	-23	-44	-51	-21	-15
Net Cash From Financing Activities	-68	-68	-79	-70	-47	-64	-150	-73	-99	86	-86
Net Cash From Continuing Financing Activities	-68	-68	-79	-70	-47	-64	-150	-73	-99	86	-86
Repayment of Debt	-0.09	-	-0.05	-20	-171	-24	-140	-344	-96	-429	-0.06
Repurchase of Common Equity	-0.03	-	-11	-	-	-	-9.83	-	-	-0.02	-13
Payment of Dividends	-68	-68	-68	-70	-71	-71	-71	-73	-73	-73	-73
Issuance of Debt	-	-	0.00	-	194	30	70	344	70	588	0.00
Issuance of Common Equity	0.17	0.13	0.19	0.22	0.19	0.23	0.23	0.23	0.25	0.24	0.23
Effect of Exchange Rate Changes	-0.12	0.14	-	-	0.09	-0.38	-0.05	0.46	-0.12	0.11	-0.12
Cash Interest Paid	18	47	18	46	19	49	19	51	21	44	14
Cash Income Taxes Paid	0.26	0.27	0.62	0.61	0.25	1.18	1.23	0.76	0.34	0.55	1.87

This table presents EPR Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	4,217	4,865	6,191	6,131	6,578	6,704	5,801	5,759	5,701	5,617	5,700
Total Current Assets	74	118	136	117	976	1,510	738	621	714	786	876
Cash & Equivalents	4.28	19	42	5.87	529	1,026	289	108	78	22	91
Restricted Cash	11	-	-	13	2.68	2.43	1.08	2.58	2.90	14	8.07
Note & Lease Receivable	-	-	-	-	357	366	370	457	570	666	679
Accounts Receivable	59	99	94	98	87	116	78	54	64	85	98
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	4,851	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	4,143	4,747	6,056	6,015	5,602	343	5,063	5,137	4,986	4,830	4,824
Long-Term Investments	6.17	5.97	5.60	34	34	28	37	53	50	14	12
Other Noncurrent Operating Assets	3,522	4,024	5,022	5,442	5,568	315	5,026	5,084	4,937	4,816	4,812
Total Liabilities & Shareholders' Equity	4,217	4,865	6,191	6,131	6,578	6,704	5,801	5,759	5,701	5,617	5,700
Total Liabilities	2,143	2,679	3,264	3,266	3,572	4,074	3,183	3,223	3,247	3,293	3,371
Total Current Liabilities	137	167	205	274	227	171	154	165	198	214	230
Accounts Payable	92	120	137	168	123	105	73	80	95	108	99
Dividends Payable	-	-	-	27	29	0.04	19	21	25	26	22
Current Deferred Revenue	45	47	68	79	75	65	62	64	77	81	109
Total Noncurrent Liabilities	2,006	2,512	3,059	2,992	3,345	3,903	3,029	3,052	3,043	3,079	3,140
Long-Term Debt	1,982	2,486	3,029	2,986	3,103	3,694	2,804	2,810	2,816	2,860	2,929
Other Noncurrent Operating Liabilities	24	26	30	6.03	242	208	225	241	227	218	211
Total Equity & Noncontrolling Interests	2,074	2,186	2,927	2,865	3,006	2,631	2,618	2,536	2,454	2,323	2,329
Total Preferred & Common Equity	2,074	2,186	2,927	2,865	3,006	2,630	2,618	2,536	2,454	2,323	2,344
Preferred Stock	0.14	0.14	0.15	0.15	0.15	-	-	0.15	0.15	0.15	15
Total Common Equity	2,074	2,186	2,927	2,865	3,006	2,630	2,618	2,536	2,454	2,323	2,329
Common Stock	2,509	2,678	3,480	3,505	3,836	3,858	3,878	3,901	3,925	3,951	3,979
Treasury Stock	-97	-113	-122	-131	-147	-261	-265	-270	-274	-285	-295
Accumulated Other Comprehensive Income / (Loss)	5.62	7.73	12	12	7.28	0.22	9.96	1.90	3.30	-3.76	1.04
Other Equity Adjustments	-344	-387	-443	-522	-690	-967	-1,005	-1,097	-1,201	-1,339	-1,356

This table presents EPR Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	5,793	5,757	5,704	5,719	5,694	5,645	5,689	5,533	5,561	5,544	5,683
Total Current Assets	619	611	622	708	711	705	776	772	789	818	791
Cash & Equivalents	161	96	100	173	59	34	35	21	13	14	68
Restricted Cash	5.25	2.60	2.62	2.87	2.93	2.96	2.99	6.35	16	16	6.09
Note & Lease Receivable	399	461	466	477	579	593	658	659	666	696	615
Accounts Receivable	53	51	53	55	69	75	80	86	95	92	101
Plant, Property, & Equipment, net	4,770	51	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	404	5,095	5,081	5,011	4,983	4,940	4,913	4,761	4,771	4,725	4,892
Long-Term Investments	50	-	54	54	46	45	32	11	9.68	14	9.68
Other Noncurrent Operating Assets	354	4,897	5,028	4,958	4,937	4,895	4,881	4,749	4,762	4,711	4,883
Total Liabilities & Shareholders' Equity	5,793	5,757	5,704	5,719	5,694	5,645	5,689	5,533	5,561	5,544	5,683
Total Liabilities	3,237	3,225	3,221	3,246	3,246	3,221	3,285	3,212	3,230	3,215	3,367
Total Current Liabilities	185	170	169	194	199	177	212	194	214	237	229
Accounts Payable	83	76	74	83	84	63	99	93	102	113	101
Dividends Payable	21	22	22	23	23	23	24	22	22	22	24
Current Deferred Revenue	80	72	72	89	92	90	89	79	90	101	105
Total Noncurrent Liabilities	3,052	3,056	3,052	3,051	3,047	3,044	3,074	3,017	3,015	2,978	3,138
Long-Term Debt	2,809	2,812	2,813	2,814	2,818	2,819	2,853	2,792	2,793	2,768	2,931
Other Noncurrent Operating Liabilities	243	6.03	239	237	229	225	221	225	222	209	206
Total Equity & Noncontrolling Interests	2,556	2,531	2,483	2,474	2,448	2,425	2,404	2,321	2,331	2,329	2,316
Total Preferred & Common Equity	2,556	2,531	2,483	2,474	2,448	2,425	2,419	2,336	2,346	2,344	2,331
Preferred Stock	0.15	-	0.15	0.15	0.15	0.15	15	15	15	15	15
Total Common Equity	2,556	2,531	2,483	2,474	2,448	2,425	2,404	2,321	2,331	2,329	2,316
Common Stock	3,896	3,911	3,916	3,921	3,940	3,944	3,947	3,964	3,969	3,974	3,992
Treasury Stock	-270	-274	-274	-274	-285	-285	-285	-295	-295	-295	-308
Accumulated Other Comprehensive Income / (Loss)	1.10	1.82	3.61	2.38	1.12	-0.54	-0.61	-3.57	-0.00	-0.59	0.61
Other Equity Adjustments	-1,072	-1,108	-1,163	-1,175	-1,208	-1,233	-1,258	-1,345	-1,342	-1,349	-1,368

This table displays calculated financial ratios and metrics derived from EPR Properties' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.57%	17.15%	5.08%	23.46%	1.88%	-36.40%	28.22%	23.76%	7.24%	-1.08%	2.91%
EBITDA Growth	18.34%	12.53%	14.93%	8.93%	-6.50%	-55.16%	96.79%	7.14%	0.12%	-4.32%	28.21%
EBIT Growth	12.42%	10.37%	11.94%	6.93%	-14.07%	-84.31%	434.79%	11.30%	-1.26%	-6.18%	44.13%
NOPAT Growth	9.37%	17.82%	10.32%	16.72%	-5.93%	-90.72%	651.81%	12.55%	-1.76%	3.04%	31.34%
Net Income Growth	10.37%	15.65%	16.88%	1.53%	-24.25%	-165.13%	174.86%	78.72%	-1.81%	-15.59%	88.23%
EPS Growth	2.45%	8.19%	3.79%	-0.61%	22.94%	-151.00%	148.78%	103.00%	-2.96%	-18.78%	105.00%
Operating Cash Flow Growth	0.00%	9.66%	30.43%	21.61%	-9.25%	-85.15%	370.22%	43.92%	1.22%	-12.07%	7.08%
Free Cash Flow Firm Growth	-58.83%	-27.41%	-215.33%	155.51%	28.68%	-47.37%	26.04%	-50.12%	60.18%	-5.47%	21.84%
Invested Capital Growth	14.17%	15.15%	27.17%	-1.42%	-4.34%	-5.45%	-2.93%	1.86%	-0.75%	-0.21%	0.32%
Revenue Q/Q Growth	-41.64%	201.88%	-16.11%	-1.26%	0.00%	-4.90%	1.12%	3.75%	-0.94%	0.76%	0.80%
EBITDA Q/Q Growth	-36.79%	233.70%	-55.74%	-52.10%	314.89%	-21.61%	8.82%	-5.06%	0.60%	-12.16%	11.57%
EBIT Q/Q Growth	-44.75%	1,402.02%	-16.96%	-53.19%	768.56%	-53.80%	15.62%	-7.87%	1.12%	-18.26%	16.47%
NOPAT Q/Q Growth	-50.16%	1,158.16%	-18.84%	-4.55%	0.00%	-51.60%	19.13%	-7.52%	0.79%	-10.46%	16.69%
Net Income Q/Q Growth	-58.04%	524.82%	2.90%	-4.14%	-8.06%	-74.58%	189.40%	-1.25%	1.88%	-26.96%	37.72%
EPS Q/Q Growth	-1.35%	1.28%	-2.08%	-2.97%	55.21%	-685.71%	525.00%	-1.46%	1.55%	-30.74%	43.23%
Operating Cash Flow Q/Q Growth	0.00%	-1.31%	-1.50%	-0.02%	4.47%	-59.64%	26.71%	5.13%	-3.25%	4.22%	1.16%
Free Cash Flow Firm Q/Q Growth	-389.21%	27.36%	54.31%	0.39%	360.76%	-43.91%	-24.71%	-32.19%	-12.11%	46.55%	-18.82%
Invested Capital Q/Q Growth	1.29%	5.50%	1.26%	0.90%	-7.45%	-4.03%	-0.71%	0.77%	1.76%	-0.96%	1.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	94.43%	95.42%	93.96%	100.00%	90.68%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	91.92%	88.30%	96.57%	85.20%	78.19%	55.13%	84.61%	73.24%	68.38%	66.14%	82.40%
Operating Margin	65.63%	66.00%	69.85%	66.02%	59.15%	12.57%	52.44%	47.26%	43.42%	45.22%	57.67%
EBIT Margin	69.50%	65.48%	69.75%	60.41%	50.95%	12.57%	52.44%	47.16%	43.42%	41.18%	57.67%
Profit (Net Income) Margin	46.21%	45.61%	50.73%	41.72%	31.02%	-31.77%	18.55%	26.78%	24.52%	20.92%	38.27%
Tax Burden Percent	99.85%	99.75%	115.56%	119.07%	133.48%	114.57%	98.41%	99.30%	99.01%	99.03%	99.10%
Interest Burden Percent	66.58%	69.83%	62.95%	58.01%	45.62%	-220.53%	35.94%	57.19%	57.04%	51.31%	66.96%
Effective Tax Rate	0.25%	0.25%	1.05%	1.02%	-2.00%	0.00%	1.59%	0.70%	0.99%	0.97%	0.90%
Return on Invested Capital (ROIC)	7.28%	7.48%	6.79%	7.13%	6.90%	0.67%	5.28%	5.98%	5.85%	6.05%	7.94%
ROIC Less NNEP Spread (ROIC-NNEP)	2.74%	2.97%	3.29%	2.04%	-0.01%	-5.79%	-1.56%	0.85%	1.01%	0.05%	3.17%
Return on Net Nonoperating Assets (RNNOA)	2.44%	3.08%	3.50%	2.09%	-0.01%	-5.35%	-1.53%	0.86%	1.09%	0.06%	3.87%
Return on Equity (ROE)	9.73%	10.56%	10.29%	9.22%	6.89%	-4.67%	3.76%	6.84%	6.94%	6.11%	11.82%
Cash Return on Invested Capital (CROIC)	-5.95%	-6.61%	-17.13%	8.56%	11.33%	6.27%	8.25%	4.14%	6.60%	6.27%	7.63%
Operating Return on Assets (OROA)	7.40%	7.11%	6.54%	6.27%	5.23%	0.79%	4.46%	5.37%	5.35%	5.08%	7.32%
Return on Assets (ROA)	4.92%	4.95%	4.76%	4.33%	3.18%	-1.98%	1.58%	3.05%	3.02%	2.58%	4.86%
Return on Common Equity (ROCE)	9.72%	10.56%	10.29%	9.22%	6.89%	-4.67%	3.76%	6.84%	6.94%	6.11%	11.82%
Return on Equity Simple (ROE_SIMPLE)	9.38%	10.29%	8.98%	9.32%	6.73%	-5.01%	3.77%	6.95%	7.05%	6.29%	0.00%
Net Operating Profit after Tax (NOPAT)	276	325	358	418	393	36	274	309	303	313	411
NOPAT Margin	65.46%	65.83%	69.11%	65.34%	60.33%	8.80%	51.60%	46.93%	42.99%	44.78%	57.15%
Net Nonoperating Expense Percent (NNEP)	4.54%	4.51%	3.50%	5.09%	6.92%	6.46%	6.85%	5.13%	4.84%	6.00%	4.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.78%	5.76%	6.03%	7.81%
Cost of Revenue to Revenue	5.57%	4.58%	6.04%	0.00%	9.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	7.52%	7.61%	8.42%	7.64%	7.11%	14.25%	12.43%	12.98%	14.34%	15.32%	14.14%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	28.81%	29.42%	24.11%	33.98%	31.54%	87.43%	47.56%	52.74%	56.58%	54.78%	42.33%
Earnings before Interest and Taxes (EBIT)	293	323	362	387	332	52	279	310	306	287	414
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	387	436	501	545	510	229	450	482	483	462	592
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.01	1.33	1.11	1.20	1.41	0.73	1.11	0.95	1.37	1.43	1.62
Price to Tangible Book Value (P/TBV)	1.01	1.33	1.11	1.20	1.41	0.73	1.11	0.95	1.37	1.43	1.62
Price to Revenue (P/Rev)	4.99	5.88	6.26	5.36	6.51	4.66	5.49	3.66	4.76	4.77	5.26
Price to Earnings (P/E)	12.31	14.42	13.85	14.13	23.81	0.00	39.18	15.84	22.55	27.34	15.07
Dividend Yield	10.32%	8.42%	9.26%	9.36%	8.32%	17.43%	3.85%	10.12%	7.40%	7.73%	7.09%
Earnings Yield	8.13%	6.93%	7.22%	7.08%	4.20%	0.00%	2.55%	6.31%	4.44%	3.66%	6.64%
Enterprise Value to Invested Capital (EV/IC)	1.01	1.15	1.05	1.09	1.22	0.87	1.05	0.97	1.17	1.19	1.27
Enterprise Value to Revenue (EV/Rev)	9.65	10.87	12.01	9.95	10.40	11.02	10.15	7.68	8.56	8.80	9.18
Enterprise Value to EBITDA (EV/EBITDA)	10.50	12.31	12.44	11.67	13.30	20.00	11.99	10.49	12.52	13.31	11.14
Enterprise Value to EBIT (EV/EBIT)	13.88	16.60	17.22	16.46	20.41	87.67	19.35	16.29	19.72	21.37	15.92
Enterprise Value to NOPAT (EV/NOPAT)	14.74	16.51	17.38	15.22	17.23	125.25	19.67	16.37	19.92	19.65	16.07
Enterprise Value to Operating Cash Flow (EV/OCF)	14.59	17.56	15.63	13.14	15.42	70.03	17.58	11.44	13.52	15.63	15.67
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	12.68	10.49	13.45	12.59	23.65	17.65	18.99	16.73
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.96	1.14	1.03	1.04	1.03	1.40	1.07	1.11	1.15	1.23	1.26
Long-Term Debt to Equity	0.96	1.14	1.03	1.04	1.03	1.40	1.07	1.11	1.15	1.23	1.26
Financial Leverage	0.89	1.04	1.06	1.03	0.94	0.92	0.98	1.00	1.08	1.16	1.22
Leverage Ratio	1.98	2.13	2.16	2.13	2.16	2.36	2.38	2.24	2.30	2.37	2.43
Compound Leverage Factor	1.32	1.49	1.36	1.23	0.99	-5.20	0.86	1.28	1.31	1.22	1.63
Debt to Total Capital	48.87%	53.21%	50.85%	51.03%	50.79%	58.41%	51.72%	52.57%	53.43%	55.18%	55.71%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	48.87%	53.21%	50.85%	51.03%	50.79%	58.41%	51.72%	52.57%	53.43%	55.18%	55.71%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	51.13%	46.79%	49.15%	48.96%	49.20%	41.59%	48.28%	47.43%	46.56%	44.82%	44.29%
Debt to EBITDA	5.12	5.71	6.05	5.48	6.09	16.16	6.23	5.83	5.84	6.20	4.95
Net Debt to EBITDA	5.07	5.65	5.96	5.38	4.98	11.54	5.51	5.49	5.57	6.09	4.76
Long-Term Debt to EBITDA	5.12	5.71	6.05	5.48	6.09	16.16	6.23	5.83	5.84	6.20	4.95
Debt to NOPAT	7.19	7.65	8.45	7.14	7.89	101.23	10.22	9.10	9.28	9.15	7.13
Net Debt to NOPAT	7.11	7.58	8.32	7.01	6.45	72.29	9.03	8.57	8.85	8.99	6.86
Long-Term Debt to NOPAT	7.19	7.65	8.45	7.14	7.89	101.23	10.22	9.10	9.28	9.15	7.13
Altman Z-Score	0.90	0.96	0.86	0.91	1.11	0.61	0.92	0.84	1.03	1.02	1.17
Noncontrolling Interest Sharing Ratio	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.54	0.71	0.66	0.43	4.29	8.83	4.80	3.76	3.61	3.67	3.80
Quick Ratio	0.46	0.71	0.66	0.38	4.28	8.82	4.79	3.74	3.60	3.60	3.77
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-225	-287	-904	502	646	340	428	214	342	324	394
Operating Cash Flow to CapEx	209.21%	156.35%	194.86%	306.87%	156.49%	0.00%	0.00%	271.21%	20,727.58%	0.00%	4,662.23%
Free Cash Flow to Firm to Interest Expense	-2.28	-2.92	-6.75	2.99	3.58	2.13	2.47	1.63	2.74	2.47	2.96
Operating Cash Flow to Interest Expense	2.82	3.11	2.97	2.89	2.44	0.41	1.77	3.37	3.58	3.00	3.16
Operating Cash Flow Less CapEx to Interest Expense	1.47	1.12	1.45	1.95	0.88	1.60	2.05	2.13	3.56	3.23	3.10
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.11	0.09	0.10	0.10	0.06	0.09	0.11	0.12	0.12	0.13
Accounts Receivable Turnover	7.92	6.24	5.38	6.66	7.04	4.08	5.47	10.00	12.04	9.42	7.87
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.27	0.21	0.24	0.00	0.42	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	46.11	58.47	67.83	54.77	51.85	89.37	66.68	36.51	30.32	38.76	46.35
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1,357.93	1,711.28	1,495.37	0.00	875.56	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-1,311.81	-1,652.80	-1,427.54	54.77	-823.71	89.37	66.68	36.51	30.32	38.76	46.35
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,035	4,646	5,909	5,825	5,572	5,269	5,115	5,210	5,171	5,160	5,176
Invested Capital Turnover	0.11	0.11	0.10	0.11	0.11	0.08	0.10	0.13	0.14	0.14	0.14
Increase / (Decrease) in Invested Capital	501	611	1,262	-84	-253	-303	-154	95	-39	-11	16
Enterprise Value (EV)	4,062	5,362	6,226	6,364	6,779	4,571	5,396	5,055	6,043	6,144	6,597
Market Capitalization	2,101	2,902	3,245	3,431	4,241	1,933	2,918	2,408	3,357	3,333	3,779
Book Value per Share	$34.70	$34.35	$39.74	$38.54	$38.31	$35.25	$35.00	$33.80	$32.58	$30.68	$30.59
Tangible Book Value per Share	$34.70	$34.35	$39.74	$38.54	$38.31	$35.25	$35.00	$33.80	$32.58	$30.68	$30.59
Total Capital	4,056	4,672	5,956	5,851	6,109	6,325	5,422	5,346	5,270	5,184	5,259
Total Debt	1,982	2,486	3,029	2,986	3,103	3,694	2,804	2,810	2,816	2,860	2,929
Total Long-Term Debt	1,982	2,486	3,029	2,986	3,103	3,694	2,804	2,810	2,816	2,860	2,929
Net Debt	1,961	2,460	2,981	2,933	2,537	2,638	2,478	2,647	2,685	2,811	2,818
Capital Expenditures (CapEx)	133	195	204	158	281	-189	-48	163	2.16	-30	9.03
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-78	-68	-111	-176	217	311	294	345	436	536	547
Debt-free Net Working Capital (DFNWC)	-63	-49	-70	-157	748	1,339	584	456	517	572	645
Net Working Capital (NWC)	-63	-49	-70	-157	748	1,339	584	456	517	572	645
Net Nonoperating Expense (NNE)	81	100	95	151	191	168	176	133	130	167	136
Net Nonoperating Obligations (NNO)	1,961	2,460	2,981	2,960	2,566	2,638	2,497	2,674	2,717	2,837	2,847
Total Depreciation and Amortization (D&A)	94	113	139	159	178	176	171	172	176	174	178
Debt-free, Cash-free Net Working Capital to Revenue	-18.53%	-13.83%	-21.50%	-27.49%	33.29%	74.98%	55.36%	52.49%	61.75%	76.79%	76.11%
Debt-free Net Working Capital to Revenue	-15.00%	-9.91%	-13.42%	-24.60%	114.81%	322.90%	109.88%	69.29%	73.23%	81.90%	89.84%
Net Working Capital to Revenue	-15.00%	-9.91%	-13.42%	-24.60%	114.81%	322.90%	109.88%	69.29%	73.23%	81.90%	89.84%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.94	$3.17	$3.29	$3.27	$2.32	($2.05)	$1.00	$2.03	$1.98	$1.61	$3.30
Adjusted Weighted Average Basic Shares Outstanding	58.14M	63.38M	71.19M	74.29M	76.75M	75.99M	74.76M	74.97M	75.26M	75.64M	76.04M
Adjusted Diluted Earnings per Share	$2.93	$3.17	$3.29	$3.27	$2.32	($2.05)	$1.00	$2.03	$1.97	$1.60	$3.28
Adjusted Weighted Average Diluted Shares Outstanding	58.33M	63.47M	71.25M	74.34M	76.78M	75.99M	74.76M	75.04M	75.72M	76.00M	76.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	63.31M	0.00	74.32M	74.91M	78.58M	74.77M	149.94M	150.58M	151.36M	76.06M	76.52M
Normalized Net Operating Profit after Tax (NOPAT)	276	325	319	442	269	61	259	335	372	348	371
Normalized NOPAT Margin	65.46%	65.83%	61.47%	69.09%	41.19%	14.80%	48.80%	50.96%	52.75%	49.84%	51.70%
Pre Tax Income Margin	46.27%	45.73%	43.90%	35.04%	23.24%	-27.73%	18.85%	26.97%	24.77%	21.13%	38.62%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.96	3.29	2.70	2.30	1.84	0.33	1.61	2.37	2.45	2.19	3.11
NOPAT to Interest Expense	2.79	3.31	2.67	2.49	2.18	0.23	1.58	2.35	2.43	2.38	3.09
EBIT Less CapEx to Interest Expense	1.62	1.30	1.17	1.36	0.28	1.51	1.89	1.12	2.44	2.42	3.05
NOPAT Less CapEx to Interest Expense	1.44	1.32	1.15	1.55	0.62	1.42	1.86	1.11	2.41	2.61	3.02
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	119.81%	118.08%	118.54%	128.22%	181.62%	-130.92%	119.19%	150.75%	157.33%	191.62%	105.74%
Augmented Payout Ratio	124.04%	119.95%	121.10%	130.90%	186.41%	-136.53%	121.99%	153.16%	159.46%	199.41%	109.33%

This table displays calculated financial ratios and metrics derived from EPR Properties' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	76,520,011.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	76,520,011.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.74
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.33%	-3.76%	-2.43%	0.11%	-4.69%	3.05%	4.66%	2.87%	1.00%	3.23%	3.55%
EBITDA Growth	4.02%	2.36%	4.67%	33.96%	-4.63%	-28.78%	2.82%	26.29%	13.19%	69.46%	2.25%
EBIT Growth	5.07%	4.34%	7.59%	72.00%	-7.57%	-44.31%	3.41%	40.14%	21.14%	129.49%	-1.06%
NOPAT Growth	4.84%	3.05%	7.27%	74.24%	7.18%	-60.44%	3.69%	40.61%	3.88%	223.24%	-1.73%
Net Income Growth	10.75%	7.56%	8.76%	231.63%	-17.08%	-118.44%	4.93%	67.72%	42.74%	896.95%	-4.85%
EPS Growth	10.00%	6.12%	8.70%	410.00%	-19.70%	-136.54%	4.00%	78.43%	49.06%	521.05%	-5.13%
Operating Cash Flow Growth	12.50%	-16.34%	-18.09%	-20.84%	-18.23%	20.70%	-0.17%	11.02%	11.87%	5.21%	14.09%
Free Cash Flow Firm Growth	173.90%	785.32%	221.03%	-23.59%	-120.18%	-64.15%	-56.14%	238.03%	751.48%	101.69%	-94.72%
Invested Capital Growth	-1.71%	-0.75%	-5.87%	0.45%	2.53%	-0.21%	-1.61%	-1.48%	-2.57%	0.32%	1.76%
Revenue Q/Q Growth	9.53%	-9.19%	-2.76%	3.51%	4.28%	-1.81%	-1.24%	1.73%	2.38%	0.35%	-0.93%
EBITDA Q/Q Growth	43.32%	-5.75%	13.62%	-12.72%	2.03%	-29.61%	64.03%	7.21%	-8.55%	5.38%	-1.03%
EBIT Q/Q Growth	88.89%	-6.82%	21.05%	-19.27%	1.51%	-43.86%	124.77%	9.40%	-12.26%	6.36%	-3.09%
NOPAT Q/Q Growth	92.72%	-7.69%	22.15%	-19.81%	18.54%	-65.93%	220.17%	8.74%	-12.42%	6.01%	-2.66%
Net Income Q/Q Growth	313.68%	-19.07%	37.73%	-28.08%	3.43%	-118.00%	883.84%	14.95%	-11.97%	0.48%	-6.42%
EPS Q/Q Growth	560.00%	-21.21%	44.23%	-32.00%	3.92%	-135.85%	510.53%	16.67%	-13.19%	1.27%	-7.50%
Operating Cash Flow Q/Q Growth	50.17%	-48.39%	29.27%	-20.98%	55.11%	-23.82%	6.92%	-12.12%	56.30%	-28.36%	15.94%
Free Cash Flow Firm Q/Q Growth	141.76%	-32.08%	236.69%	-86.85%	-163.85%	220.66%	332.76%	1.38%	23.06%	-62.64%	-88.68%
Invested Capital Q/Q Growth	-1.56%	1.76%	0.30%	0.09%	0.48%	-0.96%	-1.21%	0.22%	-0.63%	1.97%	0.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	92.30%	108.48%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	69.49%	72.12%	84.27%	71.06%	69.53%	49.85%	82.79%	87.24%	77.93%	81.83%	81.75%
Operating Margin	46.10%	47.23%	58.80%	45.86%	51.36%	25.53%	58.05%	62.48%	53.54%	56.75%	55.51%
EBIT Margin	46.03%	47.23%	58.80%	45.86%	44.64%	25.53%	58.10%	62.48%	53.54%	56.75%	55.51%
Profit (Net Income) Margin	29.71%	26.47%	37.50%	26.06%	25.84%	-4.74%	37.59%	42.48%	36.52%	36.57%	34.54%
Tax Burden Percent	99.34%	98.56%	99.45%	98.78%	100.27%	108.43%	99.79%	99.11%	98.92%	98.59%	99.03%
Interest Burden Percent	64.96%	56.87%	64.12%	57.52%	57.74%	-17.11%	64.84%	68.61%	68.96%	65.36%	62.84%
Effective Tax Rate	0.66%	1.44%	0.55%	1.22%	-0.27%	0.00%	0.21%	0.89%	1.08%	1.41%	0.97%
Return on Invested Capital (ROIC)	6.37%	6.33%	7.68%	6.14%	6.93%	2.41%	7.96%	8.55%	7.34%	7.78%	7.75%
ROIC Less NNEP Spread (ROIC-NNEP)	5.20%	5.05%	6.45%	4.92%	5.22%	0.97%	6.67%	7.30%	6.26%	6.53%	6.43%
Return on Net Nonoperating Assets (RNNOA)	5.40%	5.45%	7.39%	5.45%	5.80%	1.13%	7.70%	8.50%	7.35%	7.98%	7.84%
Return on Equity (ROE)	11.76%	11.78%	15.07%	11.60%	12.73%	3.54%	15.66%	17.05%	14.69%	15.75%	15.58%
Cash Return on Invested Capital (CROIC)	7.60%	6.60%	11.86%	6.19%	4.29%	6.27%	7.78%	8.26%	9.44%	7.63%	6.20%
Operating Return on Assets (OROA)	5.70%	5.82%	7.20%	5.67%	5.42%	3.15%	7.31%	7.93%	6.79%	7.21%	7.17%
Return on Assets (ROA)	3.68%	3.26%	4.59%	3.22%	3.14%	-0.58%	4.73%	5.39%	4.63%	4.64%	4.46%
Return on Common Equity (ROCE)	11.76%	11.78%	15.07%	11.60%	12.73%	3.54%	15.65%	17.05%	14.68%	15.75%	15.58%
Return on Equity Simple (ROE_SIMPLE)	6.87%	0.00%	7.27%	8.64%	8.27%	0.00%	6.39%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	87	80	98	78	93	32	101	110	97	102	100
NOPAT Margin	45.80%	46.55%	58.48%	45.30%	51.50%	17.87%	57.93%	61.92%	52.97%	55.95%	54.97%
Net Nonoperating Expense Percent (NNEP)	1.17%	1.28%	1.23%	1.22%	1.71%	1.44%	1.29%	1.25%	1.08%	1.25%	1.31%
Return On Investment Capital (ROIC_SIMPLE)	-	1.52%	-	-	-	0.61%	1.98%	2.15%	1.89%	1.95%	1.90%
Cost of Revenue to Revenue	7.71%	-8.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	14.04%	15.88%	16.08%	15.51%	15.27%	14.48%	15.22%	14.15%	13.81%	13.44%	13.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	46.13%	61.32%	41.20%	54.14%	48.64%	74.47%	42.00%	37.52%	46.46%	43.20%	44.49%
Earnings before Interest and Taxes (EBIT)	87	81	98	79	81	45	102	111	98	104	101
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	132	124	141	123	126	88	145	155	142	150	148
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.16	1.37	1.28	1.30	1.54	1.43	1.71	1.89	1.90	1.62	1.64
Price to Tangible Book Value (P/TBV)	1.16	1.37	1.28	1.30	1.54	1.43	1.71	1.89	1.90	1.62	1.64
Price to Revenue (P/Rev)	4.04	4.76	4.46	4.50	5.33	4.77	5.64	6.20	6.20	5.26	5.25
Price to Earnings (P/E)	19.76	22.55	20.31	17.02	20.99	27.34	31.82	28.34	25.16	15.07	15.36
Dividend Yield	8.63%	7.40%	8.01%	8.01%	6.91%	7.73%	6.56%	5.97%	6.02%	7.09%	7.16%
Earnings Yield	5.06%	4.44%	4.92%	5.87%	4.76%	3.66%	3.14%	3.53%	3.97%	6.64%	6.51%
Enterprise Value to Invested Capital (EV/IC)	1.08	1.17	1.13	1.14	1.25	1.19	1.32	1.41	1.41	1.27	1.28
Enterprise Value to Revenue (EV/Rev)	7.67	8.56	8.32	8.40	9.37	8.80	9.56	10.10	10.04	9.18	9.20
Enterprise Value to EBITDA (EV/EBITDA)	11.39	12.52	11.95	11.34	12.34	13.31	13.66	13.64	13.49	11.14	11.19
Enterprise Value to EBIT (EV/EBIT)	18.03	19.72	18.64	17.02	18.45	21.37	21.15	20.46	20.11	15.92	16.12
Enterprise Value to NOPAT (EV/NOPAT)	18.15	19.92	18.83	17.18	18.58	19.65	21.33	20.62	20.34	16.07	16.30
Enterprise Value to Operating Cash Flow (EV/OCF)	11.82	13.52	13.73	14.57	17.20	15.63	17.17	17.87	17.20	15.67	15.32
Enterprise Value to Free Cash Flow (EV/FCFF)	14.03	17.65	9.22	18.42	29.38	18.99	16.88	16.88	14.73	16.73	20.89
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.14	1.15	1.15	1.16	1.19	1.23	1.20	1.20	1.19	1.26	1.27
Long-Term Debt to Equity	1.14	1.15	1.15	1.16	1.19	1.23	1.20	1.20	1.19	1.26	1.27
Financial Leverage	1.04	1.08	1.15	1.11	1.11	1.16	1.15	1.16	1.17	1.22	1.22
Leverage Ratio	2.29	2.30	2.30	2.31	2.34	2.37	2.35	2.36	2.37	2.43	2.42
Compound Leverage Factor	1.49	1.31	1.47	1.33	1.35	-0.41	1.53	1.62	1.64	1.59	1.52
Debt to Total Capital	53.22%	53.43%	53.51%	53.76%	54.27%	55.18%	54.61%	54.51%	54.31%	55.71%	55.86%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	53.22%	53.43%	53.51%	53.76%	54.27%	55.18%	54.61%	54.51%	54.31%	55.71%	55.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.29%	0.00%	0.29%	0.29%	0.29%	0.00%	0.29%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	46.78%	46.56%	46.49%	46.24%	45.72%	44.82%	45.39%	45.49%	45.68%	44.29%	44.14%
Debt to EBITDA	5.87	5.84	5.77	5.42	5.43	6.20	5.65	5.31	5.22	4.95	4.92
Net Debt to EBITDA	5.39	5.57	5.55	5.27	5.29	6.09	5.58	5.24	5.14	4.76	4.78
Long-Term Debt to EBITDA	5.87	5.84	5.77	5.42	5.43	6.20	5.65	5.31	5.22	4.95	4.92
Debt to NOPAT	9.35	9.28	9.09	8.22	8.17	9.15	8.83	8.02	7.87	7.13	7.17
Net Debt to NOPAT	8.59	8.85	8.74	7.98	7.97	8.99	8.70	7.91	7.74	6.86	6.96
Long-Term Debt to NOPAT	9.35	9.28	9.09	8.22	8.17	9.15	8.83	8.02	7.87	7.13	7.17
Altman Z-Score	0.81	0.90	0.87	0.87	0.96	0.88	1.06	1.14	1.14	0.99	0.98
Noncontrolling Interest Sharing Ratio	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.65	3.61	3.57	4.00	3.67	3.67	3.97	3.68	3.45	3.80	3.45
Quick Ratio	3.63	3.60	3.56	3.98	3.65	3.60	3.94	3.61	3.38	3.77	3.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	175	119	421	55	-35	43	185	187	230	86	9.74
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	87.25%	311.93%
Free Cash Flow to Firm to Interest Expense	5.62	3.92	13.30	1.69	-1.07	1.28	5.59	5.63	6.93	2.56	0.28
Operating Cash Flow to Interest Expense	4.78	2.54	3.15	2.40	3.67	2.78	3.01	2.63	4.11	2.91	3.26
Operating Cash Flow Less CapEx to Interest Expense	5.64	2.85	3.52	2.49	3.95	2.96	4.71	3.56	4.58	-0.43	2.22
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.12	0.12	0.12	0.12	0.12	0.13	0.13	0.13	0.13	0.13
Accounts Receivable Turnover	13.17	12.04	11.69	10.90	10.30	9.42	9.09	8.36	8.29	7.87	7.75
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	27.72	30.32	31.22	33.50	35.44	38.76	40.13	43.65	44.05	46.35	47.11
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	27.72	30.32	31.22	33.50	35.44	38.76	40.13	43.65	44.05	46.35	47.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,081	5,171	5,180	5,185	5,210	5,160	5,097	5,108	5,076	5,176	5,187
Invested Capital Turnover	0.14	0.14	0.13	0.14	0.13	0.14	0.14	0.14	0.14	0.14	0.14
Increase / (Decrease) in Invested Capital	-89	-39	-323	23	128	-11	-83	-77	-134	16	90
Enterprise Value (EV)	5,464	6,043	5,836	5,894	6,488	6,144	6,747	7,178	7,155	6,597	6,664
Market Capitalization	2,879	3,357	3,127	3,157	3,691	3,333	3,978	4,409	4,416	3,779	3,802
Book Value per Share	$32.84	$32.58	$32.35	$32.04	$31.74	$30.68	$30.51	$30.64	$30.59	$30.59	$30.27
Tangible Book Value per Share	$32.84	$32.58	$32.35	$32.04	$31.74	$30.68	$30.51	$30.64	$30.59	$30.59	$30.27
Total Capital	5,288	5,270	5,266	5,244	5,257	5,184	5,113	5,124	5,097	5,259	5,248
Total Debt	2,814	2,816	2,818	2,819	2,853	2,860	2,792	2,793	2,768	2,929	2,931
Total Long-Term Debt	2,814	2,816	2,818	2,819	2,853	2,860	2,792	2,793	2,768	2,929	2,931
Net Debt	2,585	2,685	2,709	2,737	2,782	2,811	2,754	2,755	2,725	2,818	2,847
Capital Expenditures (CapEx)	-27	-9.52	-12	-3.20	-9.05	-6.07	-56	-31	-16	112	36
Debt-free, Cash-free Net Working Capital (DFCFNWC)	338	436	449	492	526	536	551	546	551	547	487
Debt-free Net Working Capital (DFNWC)	514	517	512	529	564	572	578	575	581	645	561
Net Working Capital (NWC)	514	517	512	529	564	572	578	575	581	645	561
Net Nonoperating Expense (NNE)	30	35	35	33	46	40	36	35	30	35	37
Net Nonoperating Obligations (NNO)	2,608	2,717	2,732	2,760	2,806	2,837	2,776	2,777	2,747	2,847	2,871
Total Depreciation and Amortization (D&A)	44	43	43	44	45	43	43	44	44	46	48
Debt-free, Cash-free Net Working Capital to Revenue	47.44%	61.75%	64.07%	70.13%	75.88%	76.79%	78.00%	76.85%	77.36%	76.11%	67.19%
Debt-free Net Working Capital to Revenue	72.12%	73.23%	72.96%	75.36%	81.41%	81.90%	81.81%	80.89%	81.53%	89.84%	77.48%
Net Working Capital to Revenue	72.12%	73.23%	72.96%	75.36%	81.41%	81.90%	81.81%	80.89%	81.53%	89.84%	77.48%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.67	$0.52	$0.75	$0.52	$0.54	($0.20)	$0.79	$0.91	$0.80	$0.80	$0.74
Adjusted Weighted Average Basic Shares Outstanding	75.33M	75.26M	75.40M	75.69M	75.72M	75.64M	75.80M	76.08M	76.13M	76.04M	76.33M
Adjusted Diluted Earnings per Share	$0.66	$0.52	$0.75	$0.51	$0.53	($0.19)	$0.78	$0.91	$0.79	$0.80	$0.74
Adjusted Weighted Average Diluted Shares Outstanding	75.82M	75.72M	75.71M	76.02M	76.11M	76.00M	76.22M	76.57M	76.67M	76.50M	76.57M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	150.66M	151.36M	151.35M	151.44M	75.73M	76.06M	76.07M	76.12M	76.14M	76.52M	76.51M
Normalized Net Operating Profit after Tax (NOPAT)	105	84	80	89	67	32	92	94	89	97	99
Normalized NOPAT Margin	55.42%	48.62%	47.80%	51.21%	37.28%	17.82%	52.58%	52.58%	48.59%	53.10%	54.41%
Pre Tax Income Margin	29.90%	26.86%	37.71%	26.38%	25.78%	-4.37%	37.67%	42.86%	36.92%	37.09%	34.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.79	2.68	3.11	2.42	2.43	1.35	3.08	3.35	2.94	3.09	2.89
NOPAT to Interest Expense	2.78	2.64	3.09	2.39	2.80	0.95	3.07	3.32	2.91	3.05	2.87
EBIT Less CapEx to Interest Expense	3.65	2.99	3.48	2.52	2.70	1.53	4.78	4.28	3.41	-0.25	1.85
NOPAT Less CapEx to Interest Expense	3.64	2.95	3.46	2.49	3.07	1.13	4.78	4.25	3.38	-0.29	1.82
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	160.14%	157.33%	153.00%	131.06%	138.65%	191.62%	189.38%	158.86%	144.31%	105.74%	107.96%
Augmented Payout Ratio	162.32%	159.46%	159.47%	136.50%	144.34%	199.41%	195.97%	164.33%	149.23%	109.33%	112.81%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for EPR Properties (NYSE: EPR) based on the last four years of quarterly statements. The focus is on notable shifts in revenue, profitability, cash flow, and balance-sheet leverage that may matter to retail investors.

Revenue growth in 2025 vs 2024: Q4 2025 operating revenue is 182,950,000 USD, up from 177,234,000 USD in Q4 2024; similarly, Q3 2025 revenue is 182,306,000 USD vs 180,507,000 USD in Q3 2024; Q2 2025 is 178,068,000 USD vs 173,095,000 USD in Q2 2024.
Solid quarterly profitability in late 2025: Q4 2025 net income attributable to common shareholders is 60,864,000 USD, indicating continued profitability at the equity level.
Healthy operating cash flow in late 2025: Net cash from continuing operating activities reaches 96,452,000 USD in Q4 2025, up from 92,938,000 USD in Q4 2024, signaling strong cash generation from core operations.
Financing activity supports liquidity in Q4 2025: Issuance of debt of 588,000,000 USD and net cash from financing activities of 86,238,000 USD help bolster liquidity and funding for asset activity.
Stable dividend policy: Quarterly cash dividends per common share are 0.885 USD (consistent across several 2025 quarters), suggesting ongoing income potential for shareholders.
Costs appear relatively stable over 2024–2025: Selling, general and administrative expenses and depreciation expense remain in a narrow band (SG&A roughly 24–27m per quarter; depreciation around 41–44m), which implies a stable cost structure for a diversified property portfolio.
Taxes remain low due to REIT structure: Income tax expense is modest across quarters (for example, 954,000 USD in Q4 2025 and 725,000 USD in Q3 2025), consistent with REIT tax treatment.
Leverage levels are elevated but consistent: Long-term debt around 2.77–2.83 billion USD and total liabilities near 3.21–3.33 billion USD across 2025 quarters, indicating a leveraged but steady balance sheet typical for a large real estate REIT with ongoing acquisitions.
Significant investing cash outflows: Net cash from continuing investing activities is negative in several quarters (e.g., -115,175,000 USD in Q4 2025), reflecting ongoing property acquisitions and related capex.
Financing outflows can offset operating cash gains: Net cash from financing activities can be negative in some quarters (e.g., -99,058,000 USD in Q3 2025), indicating debt repayments or dividend funding that reduce overall cash balance despite operating strength.

05/14/26 11:24 AM ETAI Generated. May Contain Errors.

EPR Properties Financials - Frequently Asked Questions

According to the most recent income statement we have on file, EPR Properties' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

EPR Properties' net income appears to be on a downward trend, with a most recent value of $274.94 million in 2025, rising from $194.53 million in 2015. The previous period was $146.07 million in 2024. See where experts think EPR Properties is headed by visiting EPR Properties' forecast page.

EPR Properties' total operating income in 2025 was $414.30 million, based on the following breakdown:

Total Gross Profit: $718.36 million
Total Operating Expenses: $304.06 million

Over the last 10 years, EPR Properties' total revenue changed from $421.02 million in 2015 to $718.36 million in 2025, a change of 70.6%.

EPR Properties' total liabilities were at $3.37 billion at the end of 2025, a 2.3% increase from 2024, and a 57.3% increase since 2015.

In the past 10 years, EPR Properties' cash and equivalents has ranged from $4.28 million in 2015 to $1.03 billion in 2020, and is currently $90.58 million as of their latest financial filing in 2025.

Over the last 10 years, EPR Properties' book value per share changed from 34.70 in 2015 to 30.59 in 2025, a change of -11.9%.

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Financial statements for NYSE:EPR last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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EPR Properties (EPR) Financials

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EPR Properties (EPR) Financials

Annual Income Statements for EPR Properties

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Quarterly Cash Flow Statements for EPR Properties

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What is EPR Properties' operating income?

How has EPR Properties' revenue changed over the last 10 years?

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How has EPR Properties' book value per share changed over the last 10 years?

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