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Essential Properties Realty Trust (EPRT) Financials

Essential Properties Realty Trust logo
$31.25 -0.61 (-1.91%)
As of 03:11 PM Eastern
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Annual Income Statements for Essential Properties Realty Trust

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

Quarterly Income Statements for Essential Properties Realty Trust

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

Annual Cash Flow Statements for Essential Properties Realty Trust

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

Quarterly Cash Flow Statements for Essential Properties Realty Trust

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

Annual Balance Sheets for Essential Properties Realty Trust

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

Quarterly Balance Sheets for Essential Properties Realty Trust

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

Annual Metrics And Ratios for Essential Properties Realty Trust

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%

Quarterly Metrics And Ratios for Essential Properties Realty Trust

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%

Financials Breakdown Chart

Key Financial Trends

Essential Properties Realty Trust (NYSE: EPRT) has demonstrated steady financial performance over the last four years, with strong growth in revenue, net income, and equity. Here is an analysis of key trends and notable details from its income statements, cash flow statements, and balance sheets from Q3 2022 through Q1 2025.

  • Consistent Revenue Growth: Total revenue has grown from approximately $61.5 million in Q3 2022 to $106.2 million by Q1 2025, highlighting solid business expansion and underlying asset income growth.
  • Increasing Net Income: Net income attributable to common shareholders increased from $36.4 million in Q1 2023 to $56.1 million in Q1 2025, demonstrating profitability improvement over time.
  • Stable Earnings Per Share (EPS): Diluted EPS has remained relatively stable, around $0.25 to $0.31 over recent quarters, despite share count increases, reflecting steady profitability on a per-share basis.
  • Strong Operating Cash Flow: Net cash from operating activities remained robust, rising from about $53.7 million in Q1 2023 to $77.2 million in Q1 2025, indicating healthy cash generation to fund operations and investments.
  • Growth in Assets and Equity: Total assets expanded from $3.85 billion in Q3 2022 to over $6.06 billion by Q1 2025, while total common equity also grew, pointing to sustained company growth and shareholder value appreciation.
  • Rising Long-Term Debt: Long-term debt increased from around $1.27 billion in Q3 2022 to about $2.12 billion by Q1 2025, suggesting increased leverage to finance asset acquisitions or expansions, which could pose risk if not managed carefully.
  • Significant Capital Expenditures and Investments: The company has consistently invested tens to hundreds of millions in purchasing properties, leasehold improvements, equipment, and investment securities, reflecting aggressive growth and portfolio expansion strategies.
  • Share Issuance Activity: Common equity issuance has been substantial throughout the periods reviewed, including $278.6 million in Q1 2025 and several hundred million in prior quarters, which dilutes shares but supports capital needs for acquisitions and growth.
  • High Interest Expense: Total interest expense remained elevated, around $15 million to $24 million per quarter, reducing net interest income and profitability despite the company's growing scale.
  • Impairment Charges: There are recurring impairment charges in the range of $0.7 million to $9.6 million in various quarters, which negatively impact earnings and suggest some asset value write-downs during the periods analyzed.

Summary: Essential Properties Realty Trust has shown consistent growth in revenues, net income, earnings per share, and asset base over the last four years, driven by strong operating cash flow and capital investment. However, the company has also increased its leverage and incurred notable interest expenses and impairment charges which could warrant monitoring. Overall, the financial trends indicate solid business expansion with reasonable profitability and cash flow generation, balancing growth opportunities with manageable risks.

10/24/25 03:11 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Essential Properties Realty Trust's Financials

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

According to the most recent income statement we have on file, Essential Properties Realty Trust's financial year ends in December. Their financial 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. View Essential Properties Realty Trust's forecast to see where analysts expect Essential Properties Realty Trust to go next.

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 10/24/2025 by MarketBeat.com Staff
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