EPRT
ESSENTIAL PROPERTIES REALTY TRUST, INC.
Next earnings Jul 21, 2026 · consensus $0.34 EPS, $164M rev
Last earnings -2.7% on 2026-04-22
$31.18
▲ +2.16%$31.18▲ +1.65%
over 1Y
L $28.52H $34.24
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.2%
1W+2.6%
1M+3.5%
3M+1.1%
YTD+4.8%
1Y+1.6%
Buy
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 26 analysts
Buy
Fast-growing, low-leverage net-lease REIT compounding revenue ~25% a year with a steadily rising dividend.
Revenue $561M · FY2025
The read
Quality fundamentals and an attractive price line up (~56% below fair value) — the rarer case where both the business and the entry look good.
Essential Properties Realty Trust is a net-lease REIT focused on single-tenant, service-oriented and experiential properties, and it is one of the faster-growing names in the sector. FY2025 revenue grew 24.8% to $561M and net income rose 24.6% to $253M, with operating income up 29.4% to $360M — extending a remarkably consistent growth record (revenue has more than doubled from $230M in FY2021). Operating cash flow climbed 23.5% to $381M, comfortably covering the $234M dividend (+17.2%), one of the strongest dividend-growth profiles among net-lease REITs.
The balance sheet is conservative and well-suited to continued expansion: liabilities/equity of just 0.63x with $2.53B of long-term debt against $4.20B of equity. The model is high-margin by design — 64.1% operating margin, 45.1% net margin — and the 6.0% accounting ROE understates economics given $148M of non-cash D&A. The 11.8% rise in share count is the standard equity-funded growth mechanism for an externally-growing REIT and is being deployed accretively given the rising per-share earnings ($1.28 EPS, +11.3%).
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:55 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $230M | $287M | $360M | $450M | $561M |
| Gross profit | — | — | — | — | — |
| Operating income | $134M | $175M | $243M | $278M | $360M |
| Net income | $95.7M | $134M | $191M | $203M | $253M |
| Diluted EPS | $0.82 | $0.99 | $1.24 | $1.15 | $1.28 |
| Net margin | 41.6% | 46.8% | 53.0% | 45.2% | 45.1% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF17.8
PEG (trailing)0.99
Earnings yield3.7%
FCF yield5.6%
Quality & risk
ROIC (est.)4.2%
Free cash flow$379M
Total debt$2.53B
Net cash-$2.47B
Piotroski F-Score5/7
Capital returns
Buyback yield—
Dividend yield (est.)3.5%
Shareholder yield3.5%
Shares Δ YoY+11.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-042026-06-15open ↗424B5Filing2026-06-05open ↗FWPFiling2026-06-04open ↗424B5Filing2026-06-04open ↗8-KPeriod ending 2026-05-292026-06-01open ↗8-KPeriod ending 2026-06-012026-06-01open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗4Period ending 2026-05-132026-05-15open ↗
Frequently asked
- Is ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) a buy?
- EPRT currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Fast-growing, low-leverage net-lease REIT compounding revenue ~25% a year with a steadily rising dividend.
- What is EPRT's fair value?
- A Modified-Graham model based on EPRT's SEC fundamentals estimates a fair value of about $48.64. It is an estimate from reported earnings, not a price target.
- Is EPRT overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, EPRT currently appears undervalued relative to its SEC-grounded earnings power.
- What is ESSENTIAL PROPERTIES REALTY TRUST, INC.'s quality score?
- EPRT scores 73.42761418945423/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001728951, latest 10-Q filed 2026-04-22) · EODHD · Proprietary analysis · as of 6/21/2026, 8:55:16 PM.
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