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NLOP vs EPRT
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Diversified
NLOP vs EPRT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | REIT - Office | REIT - Diversified |
| Market Cap | $192M | $6.79B |
| Revenue (TTM) | $88M | $593M |
| Net Income (TTM) | $-145M | $257M |
| Gross Margin | 68.4% | 84.7% |
| Operating Margin | 29.9% | 65.0% |
| Forward P/E | — | 24.1x |
| Total Debt | $0.00 | $2.52B |
| Cash & Equiv. | $120M | $60M |
NLOP vs EPRT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Oct 23 | May 26 | Return |
|---|---|---|---|
| Net Lease Office Pr… (NLOP) | 100 | 68.1 | -31.9% |
| Essential Propertie… (EPRT) | 100 | 143.1 | +43.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: NLOP vs EPRT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
NLOP is the clearest fit if your priority is value and momentum.
- Better valuation composite
- +16.6% vs EPRT's +2.3%
EPRT carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 7 yrs, beta 0.01, yield 3.7%
- Rev growth 25.0%, EPS growth 11.3%, 3Y rev CAGR 25.2%
- 189.7% 10Y total return vs NLOP's 83.7%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 25.0% FFO/revenue growth vs NLOP's -100.0% | |
| Value | Better valuation composite | |
| Quality / Margins | 43.3% margin vs NLOP's -164.8% | |
| Stability / Safety | Beta 0.01 vs NLOP's 0.45 | |
| Dividends | 3.7% yield; 7-year raise streak; the other pay no meaningful dividend | |
| Momentum (1Y) | +16.6% vs EPRT's +2.3% | |
| Efficiency (ROA) | 3.8% ROA vs NLOP's -32.0% |
NLOP vs EPRT — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
EPRT leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
EPRT is the larger business by revenue, generating $593M annually — 6.7x NLOP's $88M. EPRT is the more profitable business, keeping 43.3% of every revenue dollar as net income compared to NLOP's -164.8%. On growth, EPRT holds the edge at +24.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $88M | $593M |
| EBITDAEarnings before interest/tax | $64M | $548M |
| Net IncomeAfter-tax profit | -$145M | $257M |
| Free Cash FlowCash after capex | $42M | -$151M |
| Gross MarginGross profit ÷ Revenue | +68.4% | +84.7% |
| Operating MarginEBIT ÷ Revenue | +29.9% | +65.0% |
| Net MarginNet income ÷ Revenue | -164.8% | +43.3% |
| FCF MarginFCF ÷ Revenue | +47.8% | -25.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | -100.0% | +24.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +99.6% | -3.4% |
Valuation Metrics
NLOP leads this category, winning 3 of 3 comparable metrics.
Valuation Metrics
| Metric | ||
|---|---|---|
| Market CapShares × price | $192M | $6.8B |
| Enterprise ValueMkt cap + debt − cash | $72M | $9.3B |
| Trailing P/EPrice ÷ TTM EPS | -1.32x | 24.53x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 24.08x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.03x |
| EV / EBITDAEnterprise value multiple | — | 17.93x |
| Price / SalesMarket cap ÷ Revenue | — | 12.08x |
| Price / BookPrice ÷ Book value/share | 0.64x | 1.50x |
| Price / FCFMarket cap ÷ FCF | 2.99x | 17.82x |
Profitability & Efficiency
EPRT leads this category, winning 3 of 5 comparable metrics.
Profitability & Efficiency
EPRT delivers a 6.3% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-49 for NLOP. On the Piotroski fundamental quality scale (0–9), EPRT scores 5/9 vs NLOP's 2/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -48.8% | +6.3% |
| ROA (TTM)Return on assets | -32.0% | +3.8% |
| ROICReturn on invested capital | — | +4.4% |
| ROCEReturn on capital employed | — | +5.8% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 5 |
| Debt / EquityFinancial leverage | — | 0.60x |
| Net DebtTotal debt minus cash | -$120M | $2.5B |
| Cash & Equiv.Liquid assets | $120M | $60M |
| Total DebtShort + long-term debt | $0 | $2.5B |
| Interest CoverageEBIT ÷ Interest expense | — | 3.17x |
Total Returns (Dividends Reinvested)
NLOP leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NLOP five years ago would be worth $18,366 today (with dividends reinvested), compared to $14,420 for EPRT. Over the past 12 months, NLOP leads with a +16.6% total return vs EPRT's +2.3%. The 3-year compound annual growth rate (CAGR) favors NLOP at 22.5% vs EPRT's 11.3% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +34.9% | +5.5% |
| 1-Year ReturnPast 12 months | +16.6% | +2.3% |
| 3-Year ReturnCumulative with dividends | +83.7% | +38.0% |
| 5-Year ReturnCumulative with dividends | +83.7% | +44.2% |
| 10-Year ReturnCumulative with dividends | +83.7% | +189.7% |
| CAGR (3Y)Annualised 3-year return | +22.5% | +11.3% |
Risk & Volatility
EPRT leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
EPRT is the less volatile stock with a 0.01 beta — it tends to amplify market swings less than NLOP's 0.45 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. EPRT currently trades 90.4% from its 52-week high vs NLOP's 37.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.45x | 0.01x |
| 52-Week HighHighest price in past year | $34.53 | $34.73 |
| 52-Week LowLowest price in past year | $11.23 | $28.95 |
| % of 52W HighCurrent price vs 52-week peak | +37.5% | +90.4% |
| RSI (14)Momentum oscillator 0–100 | 54.3 | 42.5 |
| Avg Volume (50D)Average daily shares traded | 202K | 2.0M |
Analyst Outlook
EPRT leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates NLOP as "Buy" and EPRT as "Buy". Consensus price targets imply 464.1% upside for NLOP (target: $73) vs 16.2% for EPRT (target: $37). EPRT is the only dividend payer here at 3.70% yield — a key consideration for income-focused portfolios.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $73.00 | $36.50 |
| # AnalystsCovering analysts | 1 | 22 |
| Dividend YieldAnnual dividend ÷ price | — | +3.7% |
| Dividend StreakConsecutive years of raises | 1 | 7 |
| Dividend / ShareAnnual DPS | — | $1.16 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
EPRT leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). NLOP leads in 2 (Valuation Metrics, Total Returns).
NLOP vs EPRT: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is NLOP or EPRT a better buy right now?
For growth investors, Essential Properties Realty Trust, Inc.
(EPRT) is the stronger pick with 25. 0% revenue growth year-over-year, versus -100. 0% for Net Lease Office Properties (NLOP). Essential Properties Realty Trust, Inc. (EPRT) offers the better valuation at 24. 5x trailing P/E (24. 1x forward), making it the more compelling value choice. Analysts rate Net Lease Office Properties (NLOP) a "Buy" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — NLOP or EPRT?
Over the past 5 years, Net Lease Office Properties (NLOP) delivered a total return of +83.
7%, compared to +44. 2% for Essential Properties Realty Trust, Inc. (EPRT). Over 10 years, the gap is even starker: EPRT returned +189. 7% versus NLOP's +83. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — NLOP or EPRT?
By beta (market sensitivity over 5 years), Essential Properties Realty Trust, Inc.
(EPRT) is the lower-risk stock at 0. 01β versus Net Lease Office Properties's 0. 45β — meaning NLOP is approximately 5016% more volatile than EPRT relative to the S&P 500.
04Which is growing faster — NLOP or EPRT?
By revenue growth (latest reported year), Essential Properties Realty Trust, Inc.
(EPRT) is pulling ahead at 25. 0% versus -100. 0% for Net Lease Office Properties (NLOP). On earnings-per-share growth, the picture is similar: Essential Properties Realty Trust, Inc. grew EPS 11. 3% year-over-year, compared to -58. 7% for Net Lease Office Properties. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — NLOP or EPRT?
Essential Properties Realty Trust, Inc.
(EPRT) is the more profitable company, earning 45. 0% net margin versus -164. 8% for Net Lease Office Properties — meaning it keeps 45. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EPRT leads at 64. 5% versus 29. 9% for NLOP. At the gross margin level — before operating expenses — EPRT leads at 84. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is NLOP or EPRT more undervalued right now?
Analyst consensus price targets imply the most upside for NLOP: 464.
1% to $73. 00.
07Which pays a better dividend — NLOP or EPRT?
In this comparison, EPRT (3.
7% yield) pays a dividend. NLOP does not pay a meaningful dividend and should not be held primarily for income.
08Is NLOP or EPRT better for a retirement portfolio?
For long-horizon retirement investors, Essential Properties Realty Trust, Inc.
(EPRT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 01), 3. 7% yield, +189. 7% 10Y return). Both have compounded well over 10 years (EPRT: +189. 7%, NLOP: +83. 7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between NLOP and EPRT?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: NLOP is a small-cap quality compounder stock; EPRT is a small-cap high-growth stock. EPRT pays a dividend while NLOP does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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