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Essential Properties Realty Trust, Inc., a real estate company, acquires, owns, and manages single-tenant properties in the United States. The company leases its properties to middle-market companies, such as restaurants, car washes, automotive services, medical and dental services, convenience stores, equipment rental, entertainment, early childhood education, grocery, and health and fitness on a long-term basis. As of December 31, 2021, it had a portfolio of 1, 451 properties. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2016 and is headquartered in Princeton, New Jersey.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $561M | $516M | $253M | $381M | 6.0% | 24.8% | 24.6% |
| 2024 | $450M | $405M | $203M | $308M | 5.7% | 25.0% | 6.4% |
| 2023 | $360M | $347M | $191M | $255M | 6.4% | 25.5% | 42.2% |
| 2022 | $287M | $265M | $134M | $211M | 5.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 561.22 |
| Operating Revenue | 559.16 |
| Cost Of Revenue | 7.58 |
| Gross Profit | 553.64 |
| Operating Expense | 194.57 |
| Selling General And Administration | 40.86 |
| Total Expenses | 202.15 |
| Operating Income | 359.07 |
| Total Operating Income As Reported | 359.92 |
| EBITDA | 516.06 |
| Normalized EBITDA | 515.21 |
| EBIT | 362.46 |
| Interest Income | 2.54 |
| Interest Expense | 108.08 |
| Net Interest Income | -105.55 |
| Other Non Operating Income Expenses | - |
| Other Income Expense | 0.85 |
| Interest Income Non Operating | 2.54 |
| Interest Expense Non Operating | 108.08 |
| Net Non Operating Interest Income Expense | -105.55 |
| Pretax Income | 254.38 |
| Tax Provision | 0.64 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0 |
| Net Income Continuous Operations | 253.73 |
| Net Income From Continuing And Discontinued Operation | 253.01 |
| Net Income From Continuing Operation Net Minority Interest | 253.01 |
| Net Income | 253.01 |
| Net Income Common Stockholders | 252.12 |
| Net Income Including Noncontrolling Interests | 253.73 |
| Normalized Income | 252.16 |
| Diluted NI Availto Com Stockholders | 252.84 |
| Basic Average Shares | 196.05 |
| Diluted Average Shares | 198.05 |
| Reconciled Depreciation | 153.47 |
| Reconciled Cost Of Revenue | 7.70 |
| Total Unusual Items | 0.85 |
| Total Unusual Items Excluding Goodwill | 0.85 |
| Minority Interests | -0.72 |
| Special Income Charges | -12 |
| Other Special Charges | - |
| Impairment Of Capital Assets | 12 |
| Gain On Sale Of Security | 12.85 |
| Depreciation Amortization Depletion Income Statement | 153.60 |
| Depreciation And Amortization In Income Statement | 153.60 |
| General And Administrative Expense | 40.86 |
| Other Gand A | 40.86 |
| Other Operating Expenses | - |
| Provision For Doubtful Accounts | 0.11 |
| Otherunder Preferred Stock Dividend | 0.89 |
| Average Dilution Earnings | 0.72 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Essential Properties Realty Trust, Inc.this co. | EPRT | $6.4B | 25.43 | 1.53 | 6.0% | 17.24 |
| Ryman Hospitality Properties, Inc. | RHP | $7.4B | 30.35 | 9.85 | 32.5% | 14.28 |
| The Macerich Company | MAC | $6.8B | -34.74 | 2.80 | -8.1% | 26.10 |
| Terreno Realty Corporation | TRNO | $6.8B | 16.99 | 1.64 | 9.7% | 13.88 |
| OUTFRONT Media Inc. |
| 2021 | - | - | - | - | - | - | - |
| OUT |
| $5.5B |
| 37.55 |
| 7.77 |
| 20.7% |
| 21.08 |
| Phillips Edison & Company, Inc. | PECO | $5.4B | 48.83 | 2.38 | 4.9% | 15.86 |
| Rithm Capital Corp. | RITM | $5.1B | 7.51 | 0.73 | 9.7% | - |
| Millrose Properties, Inc. | MRP | $4.8B | 12.59 | 0.82 | 6.5% | 13.94 |
| Tanger Inc. | SKT | $4.2B | 36.39 | 5.91 | 16.2% | 17.38 |
| Peer Median | - | 23.67 | 2.59 | 9.7% | 15.86 | |