EPR Properties (EPR) 10-Year Financial Performance & Capital Metrics

EPR • • REIT / Real Estate

Real EstateSpecialty REITsExperiential & Gaming PropertiesExperiential Property REITs

AboutEPR Properties is a leading experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have nearly $6.7 billion in total investments across 44 states. We adhere to rigorous underwriting and investing criteria centered on key industry, property and tenant level cash flow standards. We believe our focused approach provides a competitive advantage and the potential for stable and attractive returns.Show more

Revenue $641M -2.8%
FFO $311M -8.7%
FFO/Share 4.09 -9.2%
FFO Payout 89.86% +12.6%
FFO per Share 4.09 -9.2%
NOI Margin 90.77% -0.6%
FFO Margin 48.59% -6.0%
ROE 6.11% -11.8%
ROA 2.58% -14.5%
Debt/Assets 54.71% +2.5%
Net Debt/EBITDA 6.34 +1.5%
Book Value/Share 30.49 -5.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High NOI margin of 90.8%

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.23%

5Y-0.34%

3Y7.72%

TTM4.17%

Profit (Net Income) CAGR

10Y-2.05%

5Y-1.12%

3Y13.99%

TTM-0.18%

EPS CAGR

10Y-5.64%

5Y-4.46%

3Y16.96%

TTM-0.87%

ROCE

10Y Avg5.06%

5Y Avg4.57%

3Y Avg5.61%

Latest5.8%

Peer Comparison

Experiential Property REITs

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
EPREPR Properties	4.17B	54.79	34.24	-2.84%	30.09%	8.57%	9.42%	1.32

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	421.02M	493.24M	575.99M	700.73M	651.97M	405.52M	512.86M	610.65M	659.72M	641M
Revenue Growth %	0.09%	0.17%	0.17%	0.22%	-0.07%	-0.38%	0.26%	0.19%	0.08%	-0.03%
Property Operating Expenses	23.43M	22.6M	31.65M	30.76M	60.74M	58.59M	56.74M	55.98M	57.48M	59.15M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	139.86M	145.12M	176.57M	202.76M	234.87M	250.96M	177.32M	243.71M	295.84M	266.18M
G&A Expenses	49.6M	37.54M	43.38M	48.89M	46.37M	42.6M	44.36M	51.58M	56.44M	50.1M
EBITDA+	272.01M	408.75M	449.56M	694.4M	638.92M	265.83M	442.58M	474.61M	474.43M	481.07M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	89.62M	175.59M	208.75M	226.75M	321.21M	169.85M	163.77M	163.65M	168.03M	165.4M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	182.39M	233.16M	240.81M	467.66M	317.71M	95.98M	278.81M	310.96M	306.4M	315.67M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	79.92M	0	133.12M	135.51M	142M	157.68M	148.09M	131.18M	134.93M	130.81M
Interest Coverage	2.28x	-	1.81x	3.45x	2.24x	0.61x	1.88x	2.37x	2.27x	2.41x
Non-Operating Income	6.13M	7.63M	84.77M	59.92M	44.01M	57.06M	38.02M	9.03M	9.55M	43.72M
Pretax Income+	194.81M	225.53M	265.37M	269.27M	151.52M	-114.97M	100.2M	177.47M	174.77M	147.5M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	482K	553K	2.4M	2.29M	-3.04M	16.76M	1.6M	1.24M	1.73M	1.43M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	194.53M	224.98M	262.97M	266.98M	154.56M	-131.73M	98.61M	176.23M	173.05M	146.07M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.08%	0.16%	0.17%	0.02%	-0.42%	-1.85%	1.75%	0.79%	-0.02%	-0.16%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.15%	0.41%	0.18%	0.05%	-0.04%	-0.92%	5.88%	0.3%	0%	-0.09%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	2.93	3.17	3.29	3.59	2.01	-1.73	1.00	2.03	1.97	1.60
EPS Growth %	0.02%	0.08%	0.04%	0.09%	-0.44%	-1.86%	1.58%	1.03%	-0.03%	-0.19%
EPS (Basic)	2.94	3.17	3.29	3.59	2.01	-1.73	1.00	2.03	1.98	1.61
Diluted Shares Outstanding	58.33M	63.47M	71.25M	74.34M	76.78M	75.99M	74.76M	75.04M	75.72M	76.19M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	4.22B	4.87B	6.19B	6.13B	6.58B	6.7B	5.8B	5.76B	5.7B	5.62B
Asset Growth %	0.14%	0.15%	0.27%	-0.01%	0.07%	0.02%	-0.13%	-0.01%	-0.01%	-0.01%
Real Estate & Other Assets+	3.43B	3.92B	4.9B	5.35B	408.22M	393.65M	399.03M	4.81B	4.69B	4.57B
PP&E (Net)	1.14M	1.06M	-812K	-573K	5.45B	5.07B	4.94B	200.99M	186.63M	173.36M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	578.96M	826.17M	1.2B	688.08M	645.03M	1.17B	391.39M	657.8M	741M	828.89M
Cash & Equivalents	4.28M	19.34M	41.92M	5.87M	528.76M	1.03B	288.82M	107.93M	78.08M	22.06M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	89.57M	89.15M	92.13M	60.92M	31.28M	26.73M	26.73M	2.58M	25.62M	53.1M
Intangible Assets	7.94M	14.09M	28.18M	41.8M	44M	40.94M	37.11M	36.62M	0	0
Total Liabilities	2.14B	2.68B	3.26B	3.27B	3.57B	4.07B	3.18B	3.22B	3.25B	3.29B
Total Debt+	1.98B	2.49B	3.03B	2.99B	3.34B	3.91B	3.02B	3.05B	3.04B	3.07B
Net Debt	1.98B	2.47B	2.99B	2.98B	2.81B	2.88B	2.73B	2.94B	2.96B	3.05B
Long-Term Debt	1.98B	2.49B	3.03B	2.99B	3.11B	3.7B	2.8B	2.81B	2.82B	2.86B
Short-Term Borrowings	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	139K	148K	148K	235.65M	202.22M	218.79M	241.41M	226.96M	212.4M
Total Current Liabilities+	161.48M	193.5M	235.34M	280.31M	160.01M	102.83M	100.67M	171.46M	203.67M	220.4M
Accounts Payable	92.18M	119.76M	136.93M	168.46M	105.65M	79.39M	56.05M	80.09M	94.93M	107.98M
Deferred Revenue	44.95M	47.42M	68.23M	79.05M	0	0	0	63.94M	77.44M	80.56M
Other Liabilities	-44.95M	-47.42M	-68.23M	-79.05M	87.63M	81.76M	78.71M	0	0	0
Total Equity+	2.07B	4.64B	5.9B	5.83B	3.01B	2.64B	2.62B	2.54B	2.45B	2.32B
Equity Growth %	0.08%	1.24%	0.27%	-0.01%	-0.48%	-0.12%	-0%	-0.03%	-0.03%	-0.05%
Shareholders Equity	2.07B	2.19B	2.93B	2.87B	3.01B	2.64B	2.62B	2.54B	2.45B	2.32B
Minority Interest	0	2.46B	2.97B	2.97B	0	0	0	0	0	0
Common Stock	632K	663K	769K	772K	816K	819K	822K	825K	829K	836K
Additional Paid-in Capital	2.51B	2.68B	3.48B	3.5B	3.83B	3.86B	3.88B	3.9B	3.92B	3.95B
Retained Earnings	-343.64M	-386.51M	-443.47M	-521.75M	0	0	0	-1.1B	-1.2B	-1.34B
Preferred Stock	139K	139K	148K	148K	6.18M	6.18M	6.18M	148K	148K	148K
Return on Assets (ROA)	0.05%	0.05%	0.05%	0.04%	0.02%	-0.02%	0.02%	0.03%	0.03%	0.03%
Return on Equity (ROE)	0.1%	0.07%	0.05%	0.05%	0.03%	-0.05%	0.04%	0.07%	0.07%	0.06%
Debt / Assets	0.47%	0.51%	0.49%	0.49%	0.51%	0.58%	0.52%	0.53%	0.53%	0.55%
Debt / Equity	0.96x	0.54x	0.51x	0.51x	1.11x	1.48x	1.15x	1.20x	1.24x	1.32x
Net Debt / EBITDA	7.27x	6.03x	6.64x	4.29x	4.40x	10.84x	6.18x	6.20x	6.25x	6.34x
Book Value per Share	35.56	73.14	82.76	78.46	39.23	34.70	35.10	33.79	32.41	30.49

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	278.46M	306.2M	391.1M	484.33M	439.53M	65.27M	306.93M	441.72M	447.09M	393.14M
Operating CF Growth %	0.11%	0.1%	0.28%	0.24%	-0.09%	-0.85%	3.7%	0.44%	0.01%	-0.12%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	194.33M	224.98M	262.97M	266.98M	202.24M	-131.73M	98.61M	176.23M	173.05M	146.07M
Depreciation & Amortization	89.81M	107.76M	132.84M	152.85M	171.42M	169.85M	163.38M	163.3M	167.5M	165.4M
Stock-Based Compensation	14.88M	11.16M	14.14M	18.33M	13.76M	15.08M	14.9M	16.67M	17.82M	15.66M
Other Non-Cash Items	-18.89M	-5.7M	-25.24M	57.08M	32.72M	81.46M	31.94M	48.42M	87.15M	94.12M
Working Capital Changes	-539K	-30.94M	5.58M	-11.48M	23.5M	-84.64M	30.09M	37.27M	1.93M	-26.57M
Cash from Investing+	-568.54M	-662.15M	-702.21M	-96.81M	96.5M	133.99M	1.86M	-351.58M	-201.05M	-176.35M
Acquisitions (Net)	0	0	0	-29.47M	-325K	-1.69M	-13.61M	-26.09M	0	-1.29M
Purchase of Investments	-72.7M	-194.09M	-135.63M	-43.97M	-154.73M	-95.15M	-4.38M	-3.83M	0	0
Sale of Investments	1000K	1000K	606K	1000K	1000K	1000K	1000K	1000K	0	1000K
Other Investing	-500.58M	-489.01M	-567.19M	298.7M	251.56M	135.68M	19.85M	-321.67M	-201.05M	-185.47M
Cash from Financing+	292.02M	371.13M	333.47M	-427.55M	-23.22M	297.17M	-1.05B	-269.39M	-275.69M	-261.62M
Dividends Paid	-233.07M	-265.66M	-311.72M	-342.31M	-367.32M	-172.46M	-117.53M	-265.66M	-272.25M	-279.89M
Common Dividends	-233.07M	-265.66M	-311.72M	-342.31M	-367.32M	-172.46M	-117.53M	-265.66M	-272.25M	-279.89M
Debt Issuance (Net)	1000K	1000K	1000K	-1000K	1000K	1000K	-1000K	0	0	1000K
Share Repurchases	-8.22M	-4.21M	-6.73M	-7.16M	-9.69M	-113.38M	-2.76M	-4.26M	-3.7M	-11.38M
Other Financing	179.72M	-16.36M	104.2M	-27.76M	258.52M	-7.96M	-37.62M	-339K	-369K	-9.53M
Net Change in Cash+	947K	15.05M	22.58M	-40.48M	512.93M	496.57M	-738.11M	-179.39M	-29.53M	-45.28M
Exchange Rate Effect	-996K	-137K	229K	-442K	121K	142K	-218K	-129K	119K	-448K
Cash at Beginning	3.34M	4.28M	19.34M	58.99M	18.51M	531.44M	1.03B	289.9M	110.51M	80.98M
Cash at End	4.28M	19.34M	41.92M	18.51M	531.44M	1.03B	289.9M	110.51M	80.98M	35.7M
Free Cash Flow+	278.46M	306.2M	391.1M	88.01M	2.31M	-67.9M	193.73M	428.3M	447.09M	393.14M
FCF Growth %	0.11%	0.1%	0.28%	-0.77%	-0.97%	-30.36%	3.85%	1.21%	0.04%	-0.12%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	4.87	6.31	6.62	6.64	6.2	0.5	3.51	4.53	4.5	4.09
FFO Payout Ratio	82.02%	66.32%	66.08%	69.33%	77.21%	452.35%	44.79%	78.16%	79.82%	89.86%
NOI Margin	94.43%	95.42%	94.5%	95.61%	90.68%	85.55%	88.94%	90.83%	91.29%	90.77%
Net Debt / EBITDA	7.27x	6.03x	6.64x	4.29x	4.40x	10.84x	6.18x	6.20x	6.25x	6.34x
Debt / Assets	47%	51.09%	48.92%	48.7%	50.82%	58.27%	52.12%	52.99%	53.38%	54.71%
Interest Coverage	2.28x	-	1.81x	3.45x	2.24x	0.61x	1.88x	2.37x	2.27x	2.41x
Book Value / Share	35.56	73.14	82.76	78.46	39.23	34.7	35.1	33.79	32.41	30.49
Revenue Growth	9.34%	17.15%	16.78%	21.66%	-6.96%	-37.8%	26.47%	19.07%	8.04%	-2.84%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Experiential Reportable Operating	-	-	-	-	-	351.23M	492.82M	607.08M	665.54M	658.61M
Experiential Reportable Operating Growth	-	-	-	-	-	-	40.31%	23.18%	9.63%	-1.04%
Education Reportable Operating	-	-	-	127.76M	69.37M	62.39M	38.46M	48.13M	39.29M	38.78M
Education Reportable Operating Growth	-	-	-	-	-45.70%	-10.06%	-38.35%	25.13%	-18.36%	-1.29%
Corporate Unallocated	3M	2.66M	2.48M	1.74M	1.1M	1.04M	400K	2.82M	834K	674K
Corporate Unallocated Growth	-	-11.27%	-6.77%	-29.68%	-36.81%	-5.54%	-61.58%	606.00%	-70.47%	-19.18%
Entertainment Reportable Operating	-	-	-	310.02M	581.5M	-	-	-	-	-
Entertainment Reportable Operating Growth	-	-	-	-	87.57%	-	-	-	-	-
Recreation Reportable Operating	-	-	-	252.08M	-	-	-	-	-	-
Recreation Reportable Operating Growth	-	-	-	-	-	-	-	-	-	-
Other Reportable Operating	-	-	-	9.12M	-	-	-	-	-	-
Other Reportable Operating Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

EPR Properties (EPR) has a price-to-earnings (P/E) ratio of 34.2x. This suggests investors expect higher future growth.

Growth & Financials

EPR Properties (EPR) reported $663.5M in revenue for fiscal year 2024. This represents a 188% increase from $230.0M in 2011.

EPR Properties (EPR) saw revenue decline by 2.8% over the past year.

Yes, EPR Properties (EPR) is profitable, generating $199.6M in net income for fiscal year 2024 (22.8% net margin).

Dividend & Returns

Yes, EPR Properties (EPR) pays a dividend with a yield of 6.71%. This makes it attractive for income-focused investors.

EPR Properties (EPR) has a return on equity (ROE) of 6.1%. This is below average, suggesting room for improvement.

Industry Metrics

EPR Properties (EPR) generated Funds From Operations (FFO) of $366.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

EPR Properties (EPR) offers a 6.71% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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