Essential Properties Realty Trust (EPRT) Financials

$31.30 +0.18 (+0.57%)

Closing price 08/22/2025 03:59 PM Eastern

Extended Trading

$31.33 +0.03 (+0.11%)

As of 08/22/2025 06:17 PM Eastern

Annual Income Statements for Essential Properties Realty Trust

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

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	6.30	16	42	42	96	134	191	203
Consolidated Net Income / (Loss)	6.30	21	48	43	96	135	191	204
Net Income / (Loss) Continuing Operations	6.30	21	48	43	96	135	191	204
Total Pre-Tax Income	6.46	21	48	43	96	136	192	204
Total Revenue	32	67	108	140	192	247	309	376
Net Interest Income / (Expense)	-23	-29	-26	-29	-34	-38	-51	-75
Total Interest Income	0.05	0.93	0.79	0.49	0.09	2.83	2.01	3.07
Other Interest Income	0.05	0.93	0.79	0.49	0.09	2.83	2.01	3.07
Total Interest Expense	23	30	27	30	34	40	53	79
Long-Term Debt Interest Expense	23	30	27	30	34	40	53	79
Total Non-Interest Income	54	96	134	169	226	284	359	451
Other Service Charges	0.78	0.62	0.66	0.08	1.20	1.18	1.57	2.00
Net Realized & Unrealized Capital Gains on Investments	-	-	-5.24	4.90	-4.46	-2.14	-0.12	0.00
Other Non-Interest Income	54	96	139	164	229	285	358	449
Total Non-Interest Expense	25	46	60	97	96	111	117	171
Net Occupancy & Equipment Expense	1.55	1.98	3.07	3.88	5.76	3.45	4.66	5.00
Other Operating Expenses	8.78	14	22	25	24	30	31	35
Depreciation Expense	20	31	43	59	69	89	102	122
Impairment Charge	2.38	4.50	2.92	8.40	6.12	20	3.55	15
Other Special Charges	-6.75	-5.45	-11	-	-9.34	-31	-24	-5.98
Income Tax Expense	0.16	0.20	0.30	0.21	0.23	1.00	0.64	0.63
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	5.00	6.18	0.26	0.49	0.61	0.71	0.63
Basic Earnings per Share	$0.00	$0.00	$0.65	$0.44	$0.82	$0.99	$1.25	$1.16
Weighted Average Basic Shares Outstanding	0.00	0.00	64.10M	95.31M	116.36M	134.94M	152.14M	173.86M
Diluted Earnings per Share	$0.00	$0.00	$0.63	$0.44	$0.82	$0.99	$1.24	$1.15
Weighted Average Diluted Shares Outstanding	0.00	0.00	75.31M	96.20M	117.47M	135.86M	153.52M	177.12M
Weighted Average Basic & Diluted Shares Outstanding	-	43.80M	91.95M	213.87M	125.61M	144.35M	166.10M	187.69M
Cash Dividends to Common per Share	-	-	$0.88	$0.93	-	$1.08	$1.12	$1.16

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	36	35	43	53	46	49	47	52	49	55	56
Consolidated Net Income / (Loss)	37	36	43	53	46	49	47	52	49	56	56
Net Income / (Loss) Continuing Operations	37	36	43	53	46	49	47	52	49	56	56
Total Pre-Tax Income	37	36	43	53	46	49	47	52	49	56	56
Total Revenue	62	64	72	87	79	70	90	94	97	95	106
Net Interest Income / (Expense)	-9.14	-10	-11	-12	-12	-15	-15	-17	-20	-23	-23
Total Interest Income	0.75	2.03	0.64	0.45	0.33	0.60	0.49	0.85	1.17	0.56	0.61
Other Interest Income	0.75	2.03	0.64	0.45	0.33	0.60	0.49	0.85	1.17	0.56	0.61
Total Interest Expense	9.89	12	12	12	13	16	16	17	22	24	24
Long-Term Debt Interest Expense	9.89	12	12	12	13	16	16	17	22	24	24
Total Non-Interest Income	71	74	84	99	92	85	105	111	117	118	129
Other Service Charges	0.42	0.17	1.07	0.16	0.12	0.22	0.25	1.59	0.14	0.02	0.04
Other Non-Interest Income	70	74	83	86	92	98	103	109	117	120	129
Total Non-Interest Expense	25	29	29	34	33	21	43	43	47	39	50
Net Occupancy & Equipment Expense	0.83	0.79	0.84	1.14	1.36	1.32	0.99	1.16	1.54	1.31	2.26
Other Operating Expenses	7.87	6.60	8.58	7.59	7.11	7.29	9.36	8.71	8.87	8.45	12
Depreciation Expense	22	24	24	25	26	27	29	30	31	33	35
Impairment Charge	0.35	9.62	0.68	0.80	0.17	1.90	3.75	2.81	5.70	2.59	5.88
Other Special Charges	-6.33	-13	-4.91	-	-1.86	-	-	-	0.24	-	-4.98
Income Tax Expense	0.19	0.23	0.15	0.16	0.16	0.16	0.16	0.16	0.16	0.16	0.16
Net Income / (Loss) Attributable to Noncontrolling Interest	0.16	0.17	0.16	0.20	0.17	0.18	0.15	0.16	0.15	0.17	0.17
Basic Earnings per Share	$0.26	$0.25	$0.30	$0.35	$0.29	$0.31	$0.28	$0.29	$0.28	$0.31	$0.30
Weighted Average Basic Shares Outstanding	139.07M	134.94M	144.41M	150.49M	155.92M	152.14M	167.29M	175.32M	175.33M	173.86M	188.46M
Diluted Earnings per Share	$0.26	$0.25	$0.29	$0.35	$0.29	$0.31	$0.28	$0.29	$0.27	$0.31	$0.29
Weighted Average Diluted Shares Outstanding	139.89M	135.86M	146.00M	151.52M	157.18M	153.52M	168.85M	177.58M	179.61M	177.12M	190.96M
Weighted Average Basic & Diluted Shares Outstanding	142.38M	144.35M	148.84M	156.01M	156.02M	166.10M	175.31M	175.33M	175.33M	187.69M	197.51M
Cash Dividends to Common per Share	-	-	-	-	$0.28	-	-	-	$0.29	-	$0.30

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

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	7.51	-3.19	5.08	12	27	12	-23	-3.99
Net Cash From Operating Activities	22	46	89	99	167	211	255	308
Net Cash From Continuing Operating Activities	22	46	91	99	167	211	255	308
Net Income / (Loss) Continuing Operations	6.30	21	48	43	96	135	191	204
Consolidated Net Income / (Loss)	6.30	21	48	43	96	135	191	204
Provision For Loan Losses	-	0.00	0.00	0.83	-0.20	0.09	-0.10	0.23
Depreciation Expense	20	31	43	59	69	89	102	122
Amortization Expense	2.55	3.29	3.63	6.39	6.56	6.36	5.37	7.18
Non-Cash Adjustments to Reconcile Net Income	-7.71	-6.93	-5.36	-1.95	-21	-19	-39	-19
Changes in Operating Assets and Liabilities, net	1.82	-2.41	2.43	-7.82	17	0.56	-5.19	-6.17
Net Cash From Investing Activities	-464	-462	-608	-546	-830	-706	-857	-1,123
Net Cash From Continuing Investing Activities	-464	-462	-603	-546	-830	-706	-857	-1,123
Purchase of Property, Leasehold Improvements and Equipment	-7.74	-15	-18	-14	-9.35	-52	-105	-263
Acquisitions	-0.25	-1.71	0.53	0.48	-0.59	-0.03	0.19	-3.88
Purchase of Investment Securities	-510	-505	-665	-602	-976	-844	-908	-962
Sale and/or Maturity of Investments	54	61	81	83	159	197	157	107
Other Investing Activities, net	-0.28	-0.52	-2.13	-13	-2.20	-7.49	-1.10	-0.99
Net Cash From Financing Activities	449	413	524	458	689	507	580	811
Net Cash From Continuing Financing Activities	449	413	762	458	689	507	580	811
Issuance of Debt	791	188	911	267	790	697	318	665
Issuance of Common Equity	0.00	589	412	461	458	404	507	570
Repayment of Debt	-319	-392	-732	-181	-445	-448	-72	-220
Payment of Dividends	-101	-14	-64	-86	-112	-142	-168	-200
Other Financing Activities, Net	78	41	236	-2.81	-1.57	-3.46	-4.62	-4.34
Cash Interest Paid	20	28	29	27	24	37	50	74
Cash Income Taxes Paid	0.01	0.06	0.06	0.55	0.64	1.21	1.49	0.90

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	118	-73	-0.54	-57	28	6.95	30	-55	14	6.27	2.03
Net Cash From Operating Activities	53	56	54	65	63	73	67	81	74	87	77
Net Cash From Continuing Operating Activities	53	56	54	65	63	73	67	81	74	87	77
Net Income / (Loss) Continuing Operations	37	36	43	53	46	49	47	52	49	56	56
Consolidated Net Income / (Loss)	37	36	43	53	46	49	47	52	49	56	56
Provision For Loan Losses	-0.03	-0.05	-0.03	0.01	-0.06	-0.01	0.00	0.00	0.25	-0.02	0.04
Depreciation Expense	22	24	24	25	26	27	29	30	31	33	35
Amortization Expense	4.58	-0.63	1.82	1.58	2.33	-0.36	1.38	1.42	1.77	2.61	1.98
Non-Cash Adjustments to Reconcile Net Income	-7.61	-4.60	-8.51	-17	-5.23	-8.89	-4.79	-5.30	-1.98	-6.48	-5.70
Changes in Operating Assets and Liabilities, net	-2.99	2.09	-6.47	2.58	-6.44	5.14	-5.48	3.41	-6.67	2.57	-10
Net Cash From Investing Activities	-140	-240	-159	-230	-181	-287	-231	-330	-288	-275	-284
Net Cash From Continuing Investing Activities	-140	-240	-159	-230	-181	-287	-231	-330	-288	-275	-284
Purchase of Property, Leasehold Improvements and Equipment	-17	-17	-15	-18	-29	-43	-38	-63	-93	-69	-37
Acquisitions	-0.54	1.08	-0.65	0.07	-0.03	0.79	-0.68	-0.66	-1.34	-1.20	-2.35
Purchase of Investment Securities	-181	-276	-192	-262	-184	-269	-211	-272	-211	-267	-269
Sale and/or Maturity of Investments	59	58	48	50	32	26	19	5.71	19	63	25
Other Investing Activities, net	-0.60	-6.78	0.00	-	-	-1.10	-0.03	-0.03	-0.94	-	-1.01
Net Cash From Financing Activities	206	111	105	107	146	221	194	194	228	194	209
Net Cash From Continuing Financing Activities	206	111	105	107	146	221	194	194	228	194	209
Issuance of Debt	285	148	-	-	193	75	-	-	280	130	155
Issuance of Common Equity	213	-0.03	147	149	20	191	245	-	-	326	279
Repayment of Debt	-256	2.34	-	-	-22	-0.13	-	-	-0.07	-210	-163
Payment of Dividends	-36	-39	-39	-41	-44	-44	-47	-50	-51	-51	-56
Other Financing Activities, Net	-0.38	-0.27	-2.87	-0.76	-0.71	-0.27	-3.38	-0.39	-0.10	-0.46	-6.54
Cash Interest Paid	11	17	12	5.69	21	12	17	13	24	19	25
Cash Income Taxes Paid	-	0.16	0.50	0.72	0.15	0.12	0.18	0.58	0.10	0.05	0.17

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

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	942	1,381	1,975	2,489	3,299	4,000	4,768	5,799
Cash and Due from Banks	7.25	4.24	8.30	27	60	62	40	41
Restricted Cash	12	12	13	6.39	0.00	9.16	9.16	4.27
Trading Account Securities	-	-	-	-	0.00	48	31	28
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	863	1,307	1,813	2,261	3,040	3,669	4,480	5,402
Intangible Assets	38	15	-11	-56	-112	-188	-278	-383
Other Assets	22	44	152	222	311	399	486	707
Total Liabilities & Shareholders' Equity	942	1,381	1,975	2,489	3,299	4,000	4,768	5,799
Total Liabilities	761	570	773	907	1,255	1,503	1,781	2,227
Short-Term Debt	0.00	34	46	18	144	0.00	0.00	0.00
Other Short-Term Payables	-	13	19	26	-	39	47	56
Long-Term Debt	742	506	681	797	1,022	1,421	1,669	2,118
Other Long-Term Liabilities	19	17	27	66	89	43	65	53
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	181	811	1,202	1,582	2,044	2,497	2,987	3,572
Total Preferred & Common Equity	181	562	1,194	1,575	2,037	2,488	2,979	3,564
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	181	562	1,194	1,575	2,037	2,488	2,979	3,564
Common Stock	0.00	570	1,224	1,690	2,152	2,565	3,080	3,660
Retained Earnings	0.00	-7.66	-27	-78	-101	-117	-106	-113
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-1.95	-37	-15	41	4.02	17
Noncontrolling Interest	181	249	7.66	7.19	7.24	8.51	8.42	8.45

This table presents Essential Properties Realty Trust's 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
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
Total Assets	3,854	4,136	4,313	4,512	5,013	5,267	5,532	6,057
Cash and Due from Banks	136	71	14	36	79	24	33	47
Restricted Cash	7.93	0.00	0.00	5.91	0.00	0.94	6.06	0.00
Trading Account Securities	51	37	48	54	37	36	18	18
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	3,469	3,829	4,055	4,230	4,681	4,892	5,101	5,746
Intangible Assets	-170	-210	-231	-256	-305	-334	-356	-412
Other Assets	347	410	427	442	521	648	730	658
Total Liabilities & Shareholders' Equity	3,854	4,136	4,313	4,512	5,013	5,267	5,532	6,057
Total Liabilities	1,350	1,506	1,506	1,674	1,766	2,015	2,330	2,234
Short-Term Debt	0.00	0.00	0.00	0.00	0.00	245	80	0.00
Other Short-Term Payables	39	41	44	44	50	51	51	59
Long-Term Debt	1,270	1,421	1,422	1,593	1,669	1,670	2,116	2,119
Other Long-Term Liabilities	41	43	40	38	46	49	83	56
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,504	2,631	2,807	2,838	3,248	3,252	3,202	3,823
Total Preferred & Common Equity	2,496	2,622	2,799	2,829	3,239	3,244	3,193	3,815
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,496	2,622	2,799	2,829	3,239	3,244	3,193	3,815
Common Stock	2,563	2,714	2,865	2,887	3,327	3,330	3,332	3,942
Retained Earnings	-113	-118	-109	-108	-112	-111	-113	-122
Accumulated Other Comprehensive Income / (Loss)	47	26	43	49	24	25	-26	-5.41
Noncontrolling Interest	7.56	8.43	8.53	8.58	8.47	8.47	8.31	8.27

This table displays calculated financial ratios and metrics derived from Essential Properties Realty Trust's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	109.75%	61.10%	29.54%	37.58%	28.38%	25.15%	21.62%
EBITDA Growth	0.00%	94.39%	70.78%	14.60%	58.61%	33.99%	29.90%	11.33%
EBIT Growth	0.00%	222.27%	132.25%	-11.56%	125.64%	40.75%	41.48%	6.36%
NOPAT Growth	0.00%	227.41%	132.97%	-11.45%	126.23%	40.05%	42.06%	6.39%
Net Income Growth	0.00%	227.41%	132.97%	-11.45%	126.23%	40.05%	42.06%	6.39%
EPS Growth	0.00%	0.00%	0.00%	-30.16%	86.36%	20.73%	25.25%	-7.26%
Operating Cash Flow Growth	0.00%	104.31%	92.89%	12.22%	68.42%	26.06%	20.64%	21.18%
Free Cash Flow Firm Growth	0.00%	0.00%	-30.03%	19.66%	-68.22%	19.94%	4.65%	-51.90%
Invested Capital Growth	0.00%	46.38%	42.77%	24.27%	33.88%	22.06%	18.84%	22.21%
Revenue Q/Q Growth	0.00%	0.00%	15.39%	5.91%	7.17%	5.15%	1.93%	7.02%
EBITDA Q/Q Growth	0.00%	0.00%	11.87%	1.19%	16.47%	2.87%	6.15%	4.61%
EBIT Q/Q Growth	0.00%	0.00%	15.18%	-17.33%	34.48%	4.55%	7.72%	3.20%
NOPAT Q/Q Growth	0.00%	0.00%	15.17%	-17.34%	33.39%	4.44%	7.74%	3.18%
Net Income Q/Q Growth	0.00%	0.00%	15.17%	-17.34%	33.39%	4.44%	7.74%	3.18%
EPS Q/Q Growth	0.00%	0.00%	90.91%	-22.81%	32.26%	0.00%	5.08%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	31.34%	13.48%	3.07%	14.55%	2.21%	6.77%	4.92%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	22.23%	-34.09%	15.60%	-14.15%	-7.83%
Invested Capital Q/Q Growth	0.00%	0.00%	9.55%	1.59%	8.22%	3.80%	5.08%	5.40%
Profitability Metrics	-	-	-	-	-	-	-	-
EBITDA Margin	89.36%	82.82%	87.79%	77.67%	89.54%	93.45%	97.00%	88.80%
EBIT Margin	20.23%	31.08%	44.80%	30.59%	50.16%	54.99%	62.17%	54.37%
Profit (Net Income) Margin	19.72%	30.79%	44.52%	30.43%	50.04%	54.59%	61.97%	54.20%
Tax Burden Percent	97.51%	99.06%	99.37%	99.50%	99.76%	99.26%	99.67%	99.69%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	2.49%	0.94%	0.63%	0.50%	0.24%	0.74%	0.33%	0.31%
Return on Invested Capital (ROIC)	0.68%	1.81%	2.93%	1.97%	3.43%	3.78%	4.47%	3.94%
ROIC Less NNEP Spread (ROIC-NNEP)	0.68%	1.81%	2.93%	1.97%	3.43%	3.78%	4.47%	3.94%
Return on Net Nonoperating Assets (RNNOA)	2.79%	2.34%	1.84%	1.09%	1.88%	2.15%	2.52%	2.27%
Return on Equity (ROE)	3.47%	4.15%	4.77%	3.06%	5.31%	5.94%	6.98%	6.21%
Cash Return on Invested Capital (CROIC)	0.00%	-35.84%	-32.31%	-19.68%	-25.54%	-16.09%	-12.75%	-16.05%
Operating Return on Assets (OROA)	0.69%	1.79%	2.88%	1.91%	3.33%	3.72%	4.38%	3.87%
Return on Assets (ROA)	0.67%	1.77%	2.86%	1.91%	3.32%	3.69%	4.37%	3.85%
Return on Common Equity (ROCE)	3.47%	3.11%	4.16%	3.04%	5.29%	5.91%	6.96%	6.19%
Return on Equity Simple (ROE_SIMPLE)	3.47%	3.67%	4.02%	2.70%	4.72%	5.42%	6.43%	5.71%
Net Operating Profit after Tax (NOPAT)	6.30	21	48	43	96	135	191	204
NOPAT Margin	19.72%	30.79%	44.52%	30.43%	50.04%	54.59%	61.97%	54.20%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	4.85%	2.96%	2.85%	2.78%	3.00%	1.40%	1.51%	1.33%
Operating Expenses to Revenue	79.77%	68.92%	55.20%	69.41%	49.94%	45.01%	37.83%	45.63%
Earnings before Interest and Taxes (EBIT)	6.46	21	48	43	96	136	192	204
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	29	55	95	109	172	231	300	334
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.51	0.84	1.37	1.21	1.53	1.23	1.29	1.54
Price to Tangible Book Value (P/TBV)	3.16	0.86	1.35	1.17	1.45	1.14	1.18	1.39
Price to Revenue (P/Rev)	14.25	7.04	15.12	13.61	16.22	12.41	12.41	14.60
Price to Earnings (P/E)	72.27	30.19	38.97	44.98	32.58	22.84	20.10	27.02
Dividend Yield	0.00%	4.03%	4.37%	5.12%	3.90%	5.00%	4.56%	3.71%
Earnings Yield	1.38%	3.31%	2.57%	2.22%	3.07%	4.38%	4.98%	3.70%
Enterprise Value to Invested Capital (EV/IC)	1.47	0.92	1.22	1.12	1.32	1.13	1.17	1.33
Enterprise Value to Revenue (EV/Rev)	42.56	18.58	21.73	19.26	22.01	17.91	17.68	20.14
Enterprise Value to EBITDA (EV/EBITDA)	47.63	22.44	24.75	24.79	24.58	19.17	18.23	22.68
Enterprise Value to EBIT (EV/EBIT)	210.41	59.79	48.50	62.96	43.88	32.57	28.44	37.04
Enterprise Value to NOPAT (EV/NOPAT)	215.79	60.35	48.81	63.28	43.98	32.81	28.53	37.15
Enterprise Value to Operating Cash Flow (EV/OCF)	60.45	27.10	26.46	27.08	25.28	20.95	21.45	24.52
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	4.09	0.67	0.60	0.52	0.57	0.57	0.56	0.59
Long-Term Debt to Equity	4.09	0.62	0.57	0.50	0.50	0.57	0.56	0.59
Financial Leverage	4.09	1.29	0.63	0.55	0.55	0.57	0.56	0.58
Leverage Ratio	5.19	2.34	1.67	1.60	1.60	1.61	1.60	1.61
Compound Leverage Factor	5.19	2.34	1.67	1.60	1.60	1.61	1.60	1.61
Debt to Total Capital	80.35%	39.97%	37.68%	34.01%	36.32%	36.27%	35.84%	37.22%
Short-Term Debt to Total Capital	0.00%	2.52%	2.38%	0.75%	4.49%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	80.35%	37.46%	35.30%	33.26%	31.83%	36.27%	35.84%	37.22%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	19.65%	18.42%	0.40%	0.30%	0.23%	0.22%	0.18%	0.15%
Common Equity to Total Capital	19.65%	41.61%	61.92%	65.69%	63.45%	63.52%	63.98%	62.63%
Debt to EBITDA	26.00	9.74	7.68	7.51	6.77	6.16	5.57	6.35
Net Debt to EBITDA	25.32	9.45	7.45	7.21	6.42	5.85	5.41	6.21
Long-Term Debt to EBITDA	26.00	9.13	7.19	7.35	5.94	6.16	5.57	6.35
Debt to NOPAT	117.80	26.20	15.14	19.17	12.12	10.54	8.72	10.40
Net Debt to NOPAT	114.71	25.41	14.69	18.39	11.50	10.01	8.46	10.18
Long-Term Debt to NOPAT	117.80	24.55	14.18	18.75	10.62	10.54	8.72	10.40
Noncontrolling Interest Sharing Ratio	0.00%	25.08%	12.74%	0.53%	0.40%	0.35%	0.31%	0.26%
Liquidity Ratios	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-407	-530	-426	-716	-573	-547	-830
Operating Cash Flow to CapEx	290.47%	300.94%	495.96%	689.09%	1,790.68%	406.83%	242.28%	117.19%
Free Cash Flow to Firm to Interest Expense	0.00	-13.50	-19.60	-14.36	-21.30	-14.20	-10.39	-10.57
Operating Cash Flow to Interest Expense	1.00	1.52	3.28	3.35	4.98	5.23	4.84	3.93
Operating Cash Flow Less CapEx to Interest Expense	0.65	1.02	2.62	2.87	4.70	3.94	2.84	0.58
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.06	0.06	0.06	0.07	0.07	0.07	0.07
Fixed Asset Turnover	0.04	0.06	0.07	0.07	0.07	0.07	0.08	0.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	923	1,351	1,929	2,397	3,210	3,918	4,656	5,690
Invested Capital Turnover	0.03	0.06	0.07	0.06	0.07	0.07	0.07	0.07
Increase / (Decrease) in Invested Capital	0.00	428	578	468	812	708	738	1,034
Enterprise Value (EV)	1,359	1,244	2,344	2,691	4,231	4,421	5,461	7,565
Market Capitalization	455	471	1,631	1,902	3,118	3,063	3,833	5,484
Book Value per Share	$5.58	$12.85	$14.74	$15.04	$16.75	$17.48	$19.09	$20.33
Tangible Book Value per Share	$4.42	$12.52	$14.88	$15.58	$17.67	$18.80	$20.87	$22.51
Total Capital	923	1,351	1,929	2,397	3,210	3,918	4,656	5,690
Total Debt	742	540	727	815	1,166	1,421	1,669	2,118
Total Long-Term Debt	742	506	681	797	1,022	1,421	1,669	2,118
Net Debt	722	524	706	782	1,106	1,349	1,620	2,073
Capital Expenditures (CapEx)	7.74	15	18	14	9.35	52	105	263
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	742	540	727	815	1,166	1,421	1,669	2,118
Total Depreciation and Amortization (D&A)	22	35	46	66	76	95	108	129
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.65	$0.44	$0.82	$0.99	$1.25	$1.16
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	64.10M	95.31M	116.36M	134.94M	152.14M	173.86M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.63	$0.44	$0.82	$0.99	$1.24	$1.15
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	75.31M	96.20M	117.47M	135.86M	153.52M	177.12M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	43.80M	91.95M	213.87M	125.61M	144.35M	166.10M	187.69M
Normalized Net Operating Profit after Tax (NOPAT)	2.03	20	40	51	93	124	171	212
Normalized NOPAT Margin	6.37%	29.39%	37.14%	36.41%	48.37%	50.37%	55.32%	56.56%
Pre Tax Income Margin	20.23%	31.08%	44.80%	30.59%	50.16%	54.99%	62.17%	54.37%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.29	0.69	1.79	1.44	2.87	3.36	3.65	2.60
NOPAT to Interest Expense	0.28	0.68	1.78	1.43	2.86	3.34	3.64	2.59
EBIT Less CapEx to Interest Expense	-0.06	0.18	1.13	0.96	2.59	2.08	1.65	-0.75
NOPAT Less CapEx to Interest Expense	-0.06	0.18	1.12	0.95	2.58	2.05	1.64	-0.76
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	1,607.72%	68.24%	133.06%	203.34%	116.76%	105.16%	87.89%	98.05%
Augmented Payout Ratio	1,607.72%	68.24%	133.06%	203.34%	116.76%	105.16%	87.89%	98.05%

This table displays calculated financial ratios and metrics derived from Essential Properties Realty Trust's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.39%	23.23%	22.69%	40.38%	28.79%	9.12%	24.54%	8.00%	22.00%	35.19%	18.09%
EBITDA Growth	44.93%	11.94%	41.53%	33.88%	17.95%	29.51%	12.10%	4.64%	9.77%	19.08%	21.02%
EBIT Growth	32.78%	19.34%	59.33%	47.31%	25.74%	38.88%	9.42%	-2.50%	6.92%	12.61%	19.37%
NOPAT Growth	32.36%	19.24%	60.55%	48.00%	25.95%	38.71%	9.45%	-2.50%	6.95%	12.74%	19.43%
Net Income Growth	32.36%	19.24%	60.55%	48.00%	25.95%	38.71%	9.45%	-2.50%	6.95%	12.74%	19.43%
EPS Growth	13.04%	0.00%	38.10%	29.63%	11.54%	24.00%	-3.45%	-17.14%	-6.90%	0.00%	3.57%
Operating Cash Flow Growth	13.77%	8.79%	21.71%	12.99%	19.60%	28.61%	24.34%	24.06%	16.90%	19.94%	15.60%
Free Cash Flow Firm Growth	-33.39%	14.05%	20.97%	-9.43%	20.89%	-2.42%	-33.01%	-33.02%	-50.39%	-42.06%	-18.43%
Invested Capital Growth	27.25%	22.06%	19.39%	20.51%	17.40%	18.84%	21.35%	22.19%	21.83%	22.21%	20.85%
Revenue Q/Q Growth	-1.23%	4.31%	12.50%	21.12%	-9.38%	-11.63%	28.40%	5.04%	2.37%	-2.08%	12.16%
EBITDA Q/Q Growth	6.81%	-6.79%	16.22%	15.45%	-5.90%	2.34%	0.88%	7.77%	-1.29%	11.02%	2.49%
EBIT Q/Q Growth	1.92%	-3.17%	20.85%	23.03%	-13.00%	6.95%	-4.35%	9.63%	-4.59%	12.64%	1.32%
NOPAT Q/Q Growth	2.18%	-2.92%	21.21%	23.10%	-13.04%	6.91%	-4.36%	9.66%	-4.61%	12.69%	1.32%
Net Income Q/Q Growth	2.18%	-2.92%	21.21%	23.10%	-13.04%	6.91%	-4.36%	9.66%	-4.61%	12.69%	1.32%
EPS Q/Q Growth	-3.70%	-3.85%	16.00%	20.69%	-17.14%	6.90%	-9.68%	3.57%	-6.90%	14.81%	-6.45%
Operating Cash Flow Q/Q Growth	-9.14%	7.33%	-4.89%	21.82%	-3.83%	15.42%	-8.05%	21.55%	-9.38%	18.42%	-11.38%
Free Cash Flow Firm Q/Q Growth	-26.66%	12.85%	8.56%	-8.42%	8.43%	-12.83%	-18.75%	-8.42%	-3.53%	-6.57%	1.00%
Invested Capital Q/Q Growth	7.55%	3.80%	3.43%	4.37%	4.77%	5.08%	5.61%	5.09%	4.46%	5.40%	4.43%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	103.07%	92.10%	95.37%	90.90%	94.39%	109.31%	85.84%	88.08%	84.92%	96.28%	87.98%
EBIT Margin	59.78%	55.50%	59.85%	60.79%	58.37%	70.64%	52.59%	54.88%	51.15%	58.84%	53.16%
Profit (Net Income) Margin	59.48%	55.35%	59.64%	60.61%	58.16%	70.36%	52.41%	54.72%	50.99%	58.68%	53.01%
Tax Burden Percent	99.48%	99.35%	99.65%	99.70%	99.65%	99.67%	99.67%	99.70%	99.68%	99.72%	99.72%
Interest Burden Percent	100.00%	100.38%	100.00%	100.00%	100.00%	99.94%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.52%	0.65%	0.35%	0.30%	0.35%	0.33%	0.33%	0.30%	0.32%	0.28%	0.28%
Return on Invested Capital (ROIC)	4.14%	3.83%	4.17%	4.47%	4.30%	5.07%	3.82%	3.89%	3.64%	4.26%	3.83%
ROIC Less NNEP Spread (ROIC-NNEP)	4.14%	3.83%	4.17%	4.47%	4.30%	5.07%	3.82%	3.89%	3.64%	4.26%	3.83%
Return on Net Nonoperating Assets (RNNOA)	2.13%	2.18%	2.22%	2.35%	2.30%	2.86%	2.01%	2.14%	2.29%	2.46%	2.05%
Return on Equity (ROE)	6.28%	6.02%	6.39%	6.82%	6.60%	7.93%	5.82%	6.03%	5.93%	6.72%	5.88%
Cash Return on Invested Capital (CROIC)	-20.16%	-16.09%	-13.62%	-14.25%	-11.67%	-12.75%	-14.93%	-15.84%	-15.67%	-16.05%	-14.96%
Operating Return on Assets (OROA)	4.06%	3.75%	4.10%	4.39%	4.23%	4.98%	3.75%	3.82%	3.58%	4.18%	3.76%
Return on Assets (ROA)	4.04%	3.74%	4.08%	4.38%	4.21%	4.96%	3.74%	3.81%	3.56%	4.17%	3.75%
Return on Common Equity (ROCE)	6.26%	6.00%	6.37%	6.79%	6.58%	7.90%	5.81%	6.01%	5.91%	6.70%	5.86%
Return on Equity Simple (ROE_SIMPLE)	5.17%	0.00%	5.76%	6.01%	6.28%	0.00%	6.04%	5.99%	6.18%	0.00%	5.58%
Net Operating Profit after Tax (NOPAT)	37	36	43	53	46	49	47	52	49	56	56
NOPAT Margin	59.48%	55.35%	59.64%	60.61%	58.16%	70.36%	52.41%	54.72%	50.99%	58.68%	53.01%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	1.35%	1.22%	1.17%	1.31%	1.72%	1.88%	1.10%	1.22%	1.59%	1.39%	2.13%
Operating Expenses to Revenue	40.26%	44.50%	40.19%	39.21%	41.63%	29.36%	47.41%	45.12%	48.85%	41.16%	46.84%
Earnings before Interest and Taxes (EBIT)	37	36	43	53	46	49	47	52	49	56	56
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	63	59	69	79	75	77	77	83	82	91	93
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.96	1.23	1.29	1.20	1.14	1.29	1.27	1.50	1.88	1.54	1.61
Price to Tangible Book Value (P/TBV)	0.90	1.14	1.20	1.10	1.05	1.18	1.16	1.36	1.69	1.39	1.45
Price to Revenue (P/Rev)	10.21	12.41	13.02	11.73	10.69	12.41	12.60	14.56	17.06	14.60	15.63
Price to Earnings (P/E)	18.66	22.84	22.53	19.99	18.30	20.10	21.13	25.10	30.44	27.02	28.88
Dividend Yield	5.91%	5.00%	4.65%	4.89%	5.35%	4.56%	4.28%	4.11%	3.37%	3.71%	3.58%
Earnings Yield	5.36%	4.38%	4.44%	5.00%	5.46%	4.98%	4.73%	3.98%	3.29%	3.70%	3.46%
Enterprise Value to Invested Capital (EV/IC)	0.94	1.13	1.17	1.13	1.08	1.17	1.16	1.31	1.51	1.33	1.38
Enterprise Value to Revenue (EV/Rev)	15.04	17.91	18.24	16.69	15.83	17.68	17.50	20.25	23.23	20.14	20.94
Enterprise Value to EBITDA (EV/EBITDA)	15.74	19.17	18.91	17.59	17.00	18.23	18.56	21.68	25.57	22.68	23.46
Enterprise Value to EBIT (EV/EBIT)	27.19	32.57	31.25	28.22	26.91	28.44	29.14	34.70	41.19	37.04	38.45
Enterprise Value to NOPAT (EV/NOPAT)	27.36	32.81	31.43	28.33	27.01	28.53	29.23	34.80	41.31	37.15	38.56
Enterprise Value to Operating Cash Flow (EV/OCF)	17.10	20.95	21.51	20.88	20.12	21.45	21.35	23.84	27.73	24.52	25.73
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.51	0.57	0.54	0.51	0.56	0.56	0.51	0.59	0.69	0.59	0.55
Long-Term Debt to Equity	0.51	0.57	0.54	0.51	0.56	0.56	0.51	0.51	0.66	0.59	0.55
Financial Leverage	0.52	0.57	0.53	0.52	0.54	0.56	0.53	0.55	0.63	0.58	0.54
Leverage Ratio	1.55	1.61	1.57	1.56	1.57	1.60	1.56	1.58	1.66	1.61	1.57
Compound Leverage Factor	1.55	1.61	1.57	1.56	1.57	1.60	1.56	1.58	1.66	1.61	1.57
Debt to Total Capital	33.66%	36.27%	35.08%	33.62%	35.95%	35.84%	33.95%	37.06%	40.69%	37.22%	35.66%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.74%	1.48%	0.00%	0.00%
Long-Term Debt to Total Capital	33.66%	36.27%	35.08%	33.62%	35.95%	35.84%	33.95%	32.32%	39.21%	37.22%	35.66%
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	0.20%	0.22%	0.21%	0.20%	0.19%	0.18%	0.17%	0.16%	0.15%	0.15%	0.14%
Common Equity to Total Capital	66.14%	63.52%	64.72%	66.18%	63.86%	63.98%	65.88%	62.77%	59.16%	62.63%	64.20%
Debt to EBITDA	5.67	6.16	5.67	5.25	5.64	5.57	5.42	6.15	6.89	6.35	6.06
Net Debt to EBITDA	5.02	5.85	5.38	5.20	5.49	5.41	5.16	6.07	6.77	6.21	5.92
Long-Term Debt to EBITDA	5.67	6.16	5.67	5.25	5.64	5.57	5.42	5.36	6.64	6.35	6.06
Debt to NOPAT	9.85	10.54	9.41	8.45	8.97	8.72	8.54	9.86	11.13	10.40	9.96
Net Debt to NOPAT	8.73	10.01	8.94	8.37	8.73	8.46	8.13	9.74	10.93	10.18	9.74
Long-Term Debt to NOPAT	9.85	10.54	9.41	8.45	8.97	8.72	8.54	8.60	10.72	10.40	9.96
Noncontrolling Interest Sharing Ratio	0.33%	0.35%	0.33%	0.31%	0.30%	0.31%	0.29%	0.28%	0.28%	0.26%	0.24%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-772	-673	-615	-667	-610	-689	-818	-887	-918	-978	-969
Operating Cash Flow to CapEx	318.50%	333.93%	369.74%	362.63%	215.24%	167.65%	175.92%	128.71%	78.73%	126.44%	210.48%
Free Cash Flow to Firm to Interest Expense	-78.01	-55.45	-50.68	-55.23	-48.32	-43.71	-52.44	-51.08	-42.45	-40.84	-40.71
Operating Cash Flow to Interest Expense	5.32	4.65	4.42	5.42	4.98	4.61	4.28	4.67	3.40	3.63	3.24
Operating Cash Flow Less CapEx to Interest Expense	3.65	3.26	3.23	3.92	2.67	1.86	1.85	1.04	-0.92	0.76	1.70
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07
Fixed Asset Turnover	0.08	0.07	0.07	0.08	0.08	0.08	0.08	0.07	0.08	0.08	0.08
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,774	3,918	4,052	4,229	4,431	4,656	4,917	5,167	5,398	5,690	5,942
Invested Capital Turnover	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07
Increase / (Decrease) in Invested Capital	808	708	658	720	657	738	865	938	967	1,034	1,025
Enterprise Value (EV)	3,530	4,421	4,745	4,764	4,798	5,461	5,715	6,757	8,154	7,565	8,206
Market Capitalization	2,397	3,063	3,386	3,347	3,239	3,833	4,116	4,858	5,988	5,484	6,126
Book Value per Share	$18.68	$17.48	$18.17	$18.80	$18.14	$19.09	$19.36	$18.50	$18.21	$20.33	$20.33
Tangible Book Value per Share	$19.95	$18.80	$19.62	$20.36	$19.77	$20.87	$21.19	$20.41	$20.24	$22.51	$22.52
Total Capital	3,774	3,918	4,052	4,229	4,431	4,656	4,917	5,167	5,398	5,690	5,942
Total Debt	1,270	1,421	1,421	1,422	1,593	1,669	1,669	1,915	2,196	2,118	2,119
Total Long-Term Debt	1,270	1,421	1,421	1,422	1,593	1,669	1,669	1,670	2,116	2,118	2,119
Net Debt	1,126	1,349	1,350	1,408	1,551	1,620	1,590	1,891	2,158	2,073	2,072
Capital Expenditures (CapEx)	17	17	15	18	29	43	38	63	93	69	37
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	1,270	1,421	1,421	1,422	1,593	1,669	1,669	1,915	2,196	2,118	2,119
Total Depreciation and Amortization (D&A)	27	23	26	26	29	27	30	31	33	35	37
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.26	$0.25	$0.30	$0.35	$0.29	$0.31	$0.28	$0.29	$0.28	$0.31	$0.30
Adjusted Weighted Average Basic Shares Outstanding	139.07M	134.94M	144.41M	150.49M	155.92M	152.14M	167.29M	175.32M	175.33M	173.86M	188.46M
Adjusted Diluted Earnings per Share	$0.26	$0.25	$0.29	$0.35	$0.29	$0.31	$0.28	$0.29	$0.27	$0.31	$0.29
Adjusted Weighted Average Diluted Shares Outstanding	139.89M	135.86M	146.00M	151.52M	157.18M	153.52M	168.85M	177.58M	179.61M	177.12M	190.96M
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	142.38M	144.35M	148.84M	156.01M	156.02M	166.10M	175.31M	175.33M	175.33M	187.69M	197.51M
Normalized Net Operating Profit after Tax (NOPAT)	31	33	39	54	44	51	51	54	55	58	57
Normalized NOPAT Margin	49.81%	50.79%	53.79%	61.53%	56.03%	73.07%	56.57%	57.69%	57.11%	61.40%	53.85%
Pre Tax Income Margin	59.78%	55.71%	59.85%	60.79%	58.37%	70.60%	52.59%	54.88%	51.15%	58.84%	53.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.72	2.94	3.56	4.40	3.66	3.14	3.03	2.99	2.29	2.32	2.37
NOPAT to Interest Expense	3.70	2.93	3.55	4.39	3.65	3.13	3.02	2.98	2.28	2.32	2.37
EBIT Less CapEx to Interest Expense	2.05	1.54	2.36	2.91	1.35	0.39	0.60	-0.65	-2.03	-0.55	0.83
NOPAT Less CapEx to Interest Expense	2.03	1.54	2.35	2.90	1.34	0.38	0.59	-0.65	-2.04	-0.56	0.82
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	103.51%	105.16%	98.34%	92.37%	91.73%	87.89%	90.04%	95.32%	97.53%	98.05%	97.79%
Augmented Payout Ratio	103.51%	105.16%	98.34%	92.37%	91.73%	87.89%	90.04%	95.32%	97.53%	98.05%	97.79%

Key Financial Trends

Essential Properties Realty Trust (NYSE: EPRT) Financial Overview (Q1 2022 to Q1 2025):

Essential Properties Realty Trust has demonstrated consistent growth in revenues and net income over the recent years, highlighted by a steady increase in Total Revenue and Net Income from 2022 through Q1 2025. The company shows strong operating cash flow generation and continuing investments in properties and equipment, financed partially by equity and debt issuance.

Total Revenue increased from approximately $64.2 million in Q4 2022 to $106.2 million in Q1 2025, reflecting solid growth in the company's core business.
Net Income attributable to common shareholders rose from about $35.4 million in Q4 2022 to $56.1 million in Q1 2025, indicating improved profitability.
Operating cash flow has grown, reaching $77.2 million in Q1 2025, supporting the company's ability to fund operations and investments internally.
The company has increased its investment in property and equipment, shown by steady capital expenditures (e.g., $36.7 million in Q1 2025), which may boost future revenue streams.
Equity financing is utilized effectively, with substantial common equity issuances, such as $278.6 million in Q1 2025, enhancing financial flexibility.
Long-term debt has grown from $1.27 billion in Q3 2022 to around $2.12 billion in Q1 2025, which increases financial leverage but also raises interest expense.
Cash and equivalents fluctuate but show a general upward trend, suggesting healthy liquidity management ($47 million in Q1 2025 vs. $14.1 million in Q2 2023).
Depreciation expenses have increased consistently, reaching $35.0 million in Q1 2025, consistent with higher asset base but also impacting earnings.
Interest expense remains high, with total interest expense of approximately $23.8 million in Q1 2025, reflecting costs related to increased debt levels.
Non-interest expenses, including impairment charges (e.g., $5.9 million in Q1 2025), have increased considerably, pressuring profitability despite revenue growth.

Summary: Essential Properties Realty Trust is showing solid revenue and net income growth with healthy operating cash flows, supported by investments in properties and equity capital raises. However, the growth is accompanied by rising debt levels increasing interest expenses and elevated non-interest expenses, including impairments, which could impact margins. Investors should consider the balance of strong underlying operational performance against rising financial leverage and expense pressures.

08/23/25 03:18 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Essential Properties Realty Trust's Financials

When does Essential Properties Realty Trust's financial year end?

According to the most recent income statement we have on file, Essential Properties Realty Trust's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Essential Properties Realty Trust's net income changed over the last 7 years?

Essential Properties Realty Trust's net income appears to be on an upward trend, with a most recent value of $203.64 million in 2024, rising from $6.30 million in 2017. The previous period was $191.42 million in 2023. Check out Essential Properties Realty Trust's forecast to explore projected trends and price targets.

How has Essential Properties Realty Trust's revenue changed over the last 7 years?

Over the last 7 years, Essential Properties Realty Trust's total revenue changed from $31.92 million in 2017 to $375.68 million in 2024, a change of 1,076.8%.

How much debt does Essential Properties Realty Trust have?

Essential Properties Realty Trust's total liabilities were at $2.23 billion at the end of 2024, a 25.0% increase from 2023, and a 192.7% increase since 2017.

How much cash does Essential Properties Realty Trust have?

In the past 7 years, Essential Properties Realty Trust's cash and equivalents has ranged from $4.24 million in 2018 to $62.35 million in 2022, and is currently $40.71 million as of their latest financial filing in 2024.

How has Essential Properties Realty Trust's book value per share changed over the last 7 years?

Over the last 7 years, Essential Properties Realty Trust's book value per share changed from 5.58 in 2017 to 20.33 in 2024, a change of 264.1%.

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This page (NYSE:EPRT) was last updated on 8/23/2025 by MarketBeat.com Staff

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Essential Properties Realty Trust (EPRT) Financials

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Essential Properties Realty Trust (EPRT) Financials

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