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Essential Properties Realty Trust, Inc. (EPRT) 10-Year Financial Performance & Capital Metrics

EPRT • • REIT / Real Estate
Real EstateDiversified REITsSingle-Tenant Net Lease REITsSpecialized Net Lease Focus
AboutEssential 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.Show more
  • Revenue $450M +25.0%
  • FFO $325M +11.1%
  • FFO/Share 1.84 -3.7%
  • FFO Payout 61.4% +6.8%
  • FFO per Share 1.84 -3.7%
  • NOI Margin 98.89% +0.2%
  • FFO Margin 72.32% -11.1%
  • ROE 6.19% -11.0%
  • ROA 3.84% -11.7%
  • Debt/Assets 36.7% +3.5%
  • Net Debt/EBITDA 5.21 +8.8%
  • Book Value/Share 20.17 +3.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 37.1%
  • ✓FFO growing 23.1% TTM
  • ✓Sustainable FFO payout ratio of 61.4%
  • ✓High NOI margin of 98.9%
  • ✓Healthy dividend yield of 3.7%

✗Weaknesses

  • ✗Shares diluted 15.4% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y26.4%
3Y24.99%
TTM24.18%

Profit (Net Income) CAGR

10Y-
5Y37.14%
3Y28.48%
TTM22.16%

EPS CAGR

10Y-
5Y12.79%
3Y11.93%
TTM7.83%

ROCE

10Y Avg3.9%
5Y Avg4.78%
3Y Avg5.29%
Latest5.35%

Peer Comparison

Specialized Net Lease Focus
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Valuation
Per Share
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Quality & Returns
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Technical
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MDVModiv Inc.152.38M14.8370.62-1%2.97%0.69%11.97%1.31
GOODGladstone Commercial Corporation560.97M11.5944.581.22%13.59%11.4%10.15%4.07
EPRTEssential Properties Realty Trust, Inc.6.05B30.5426.5625.03%45.25%6.25%5.1%0.60
GIPRGeneration Income Properties, Inc.4.01M0.74-0.4827.91%-103.22%-35.52%25.5%2.14
PKSTPeakstone Realty Trust514.7M13.99-48.24-10.31%-153.27%-38.42%18.39%1.25

Profit & Loss

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+15.53M54.5M96.22M139.36M164.01M230.23M286.51M359.6M449.61M
Revenue Growth %-2.51%0.77%0.45%0.18%0.4%0.24%0.26%0.25%
Property Operating Expenses5.97M1.55M1.98M3.07M3.88M5.76M3.45M4.66M5M
Net Operating Income (NOI)+---------
NOI Margin %---------
Operating Expenses+13.57M28.45M45.11M56.48M87.3M90.05M107.63M112.18M166.42M
G&A Expenses08.94M13.76M21.75M24.44M24.33M29.46M30.68M35.16M
EBITDA+10.59M54.88M67.4M123.09M132.25M203.16M263.99M344.7M400.35M
EBITDA Margin %---------
Depreciation & Amortization+5.43M30.38M47.54M43.28M59.41M68.75M88.56M101.94M122.16M
D&A / Revenue %---------
Operating Income+5.16M24.5M19.87M79.81M72.83M134.42M175.42M242.75M278.19M
Operating Margin %---------
Interest Expense+022.57M30.19M27.04M29.65M33.61M40.37M52.6M78.54M
Interest Coverage-1.09x0.66x2.95x2.46x4.00x4.35x4.62x3.54x
Non-Operating Income0-4.42M-930K4.45M439K3.22M10.48M-7.08M-4.62M
Pretax Income+3.75M6.46M20.81M48.33M42.74M96.44M135.74M192.05M204.27M
Pretax Margin %---------
Income Tax+0161K195K303K212K227K998K636K628K
Effective Tax Rate %---------
Net Income+3.75M6.3M15.61M41.84M42.27M95.72M134.13M190.71M203M
Net Margin %---------
Net Income Growth %-0.68%1.48%1.68%0.01%1.26%0.4%0.42%0.06%
Funds From Operations (FFO)+---------
FFO Margin %---------
FFO Growth %-3%0.72%0.35%0.19%0.62%0.35%0.31%0.11%
FFO per Share+---------
FFO Payout Ratio %---------
EPS (Diluted)+0.090.470.360.630.440.820.991.241.15
EPS Growth %-4.14%-0.23%0.75%-0.3%0.86%0.21%0.25%-0.07%
EPS (Basic)0.090.470.370.650.440.820.991.251.16
Diluted Shares Outstanding40.98M40.98M43.75M75.31M96.2M117.47M135.86M153.52M177.12M

Balance Sheet

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+466.29M942.22M1.38B1.98B2.49B3.3B4B4.77B5.8B
Asset Growth %-1.02%0.47%0.43%0.26%0.33%0.21%0.19%0.22%
Real Estate & Other Assets+396.69M847.62M1.26B1.74B148.93M2.86B3.58B-10.37M5.07B
PP&E (Net)396.24M854.33M1.27B1.76B2.17B004.28B0
Investment Securities-1000K-1000K-1000K1000K1000K001000K1000K
Total Current Assets+13.74M32.15M55.71M156.6M104.38M348.11M417.89M163.96M580.45M
Cash & Equivalents1.82M7.25M4.24M8.3M26.6M59.76M62.34M39.81M40.71M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets10.67M15.22M19.71M93.83M23.45M09.15M16.61M-25.68M
Intangible Assets55.86M62.45M66.42M78.92M57.45M87.96M089.21M94.05M
Total Liabilities291.64M760.82M569.86M773.33M906.85M1.25B1.5B1.78B2.23B
Total Debt+272.82M741.65M540.12M726.92M862.99M1.19B1.44B1.69B2.13B
Net Debt271M734.4M535.88M718.62M836.39M1.13B1.38B1.65B2.09B
Long-Term Debt272.82M741.65M540.12M731M854.19M1.17B1.42B1.67B2.12B
Short-Term Borrowings00000001000K1000K
Capital Lease Obligations16.39M12.32M11.62M9.56M8.8M12.69M11.55M11.21M10.7M
Total Current Liabilities+2.43M6.85M18.13M36.85M33.7M64.75M68.66M70.99M90.75M
Accounts Payable000000000
Deferred Revenue000000000
Other Liabilities-16.39M-242.12M0-2.02M10.17M11.84M2.27M30.44M7.58M
Total Equity+451.94M915.94M811.04M1.2B1.58B2.04B2.5B2.99B3.57B
Equity Growth %-1.03%-0.11%0.48%0.32%0.29%0.22%0.2%0.2%
Shareholders Equity174.65M181.4M562.18M1.19B1.57B2.04B2.49B2.98B3.56B
Minority Interest277.29M734.54M248.86M7.66M7.19M7.24M8.51M8.42M8.45M
Common Stock174.65M181.4M431K838K1.06M1.25M1.42M1.65M1.88M
Additional Paid-in Capital00569.41M1.22B1.69B2.15B2.56B3.08B3.66B
Retained Earnings174.65M181.4M-7.66M-27.48M0-100.98M-117.19M-105.55M-113.3M
Preferred Stock000000000
Return on Assets (ROA)0.01%0.01%0.01%0.02%0.02%0.03%0.04%0.04%0.04%
Return on Equity (ROE)0.01%0.01%0.02%0.04%0.03%0.05%0.06%0.07%0.06%
Debt / Assets0.59%0.79%0.39%0.37%0.35%0.36%0.36%0.35%0.37%
Debt / Equity0.60x0.81x0.67x0.60x0.55x0.58x0.58x0.57x0.60x
Net Debt / EBITDA25.59x13.38x7.95x5.84x6.32x5.57x5.23x4.79x5.21x
Book Value per Share11.0322.3518.5415.9616.4417.4018.3819.4620.17

Cash Flow

Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+10.52M22.47M45.92M88.57M99.39M167.39M211.02M254.57M308.48M
Operating CF Growth %-1.14%1.04%0.93%0.12%0.68%0.26%0.21%0.21%
Operating CF / Revenue %---------
Net Income3.75M6.3M20.61M48.02M42.53M96.21M134.74M191.41M203.64M
Depreciation & Amortization5.43M20.05M31.69M43.28M59.41M69.89M88.34M101.94M121.92M
Stock-Based Compensation0841K2.44M6.24M6.08M5.68M9.49M9.01M10.83M
Other Non-Cash Items10.27M-2.31M-5.86M-11.41M-8.76M-19.18M-22.12M-42.6M-21.73M
Working Capital Changes1.93M1.82M-2.41M2.43M-7.82M16.65M564K-5.19M-6.17M
Cash from Investing+-279.13M-464.38M-461.86M-607.84M-545.51M-829.68M-706.08M-857.13M-1.12B
Acquisitions (Net)048K1.69M000000
Purchase of Investments-293.57M-275K-519K-2.13M-616.21M-985.77M000
Sale of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Investing-2.08M-517.73M-521.79M-672.47M-12.19M97.7M-832.69M-985.72M-1.22B
Cash from Financing+280.53M449.42M412.75M524.35M457.79M689.06M506.8M580.01M810.7M
Dividends Paid-7.54M-101.22M-14.07M-63.9M-86.47M-112.33M-141.69M-168.23M-199.66M
Common Dividends-10.05M-101.22M-14.07M-63.9M-86.47M-112.33M-141.69M-168.23M-199.66M
Debt Issuance (Net)01000K1000K1000K1000K1000K1000K1000K1000K
Share Repurchases000000000
Other Financing290.58M78.14M-188.54M-7.96M-2.83M-3.69M-8.92M-7.04M-4.45M
Net Change in Cash+11.92M7.51M-3.19M5.08M11.67M26.77M11.74M-22.54M-3.98M
Exchange Rate Effect000000000
Cash at Beginning011.92M19.43M16.24M21.32M32.99M59.76M71.5M48.96M
Cash at End11.92M19.43M16.24M21.32M32.99M59.76M71.5M48.96M44.98M
Free Cash Flow+10.52M22.43M44.23M88.57M99.39M167.39M211.02M254.57M308.48M
FCF Growth %-1.13%0.97%1%0.12%0.68%0.26%0.21%0.21%
FCF / Revenue %---------

Key Ratios

Metric201620172018201920202021202220232024
FFO per Share0.220.891.441.131.061.41.641.911.84
FFO Payout Ratio109.49%276%22.28%75.07%85.04%68.3%63.63%57.49%61.4%
NOI Margin61.56%97.16%97.94%97.8%97.63%97.5%98.8%98.7%98.89%
Net Debt / EBITDA25.59x13.38x7.95x5.84x6.32x5.57x5.23x4.79x5.21x
Debt / Assets58.51%78.71%39.11%36.8%34.67%36.11%36.1%35.46%36.7%
Interest Coverage-1.09x0.66x2.95x2.46x4.00x4.35x4.62x3.54x
Book Value / Share11.0322.3518.5415.9616.4417.418.3819.4620.17
Revenue Growth-250.83%76.56%44.83%17.69%40.38%24.44%25.51%25.03%

Frequently Asked Questions

Valuation & Price

Essential Properties Realty Trust, Inc. (EPRT) has a price-to-earnings (P/E) ratio of 26.6x. This suggests investors expect higher future growth.

Growth & Financials

Essential Properties Realty Trust, Inc. (EPRT) reported $531.1M in revenue for fiscal year 2024. This represents a 3319% increase from $15.5M in 2016.

Essential Properties Realty Trust, Inc. (EPRT) grew revenue by 25.0% over the past year. This is strong growth.

Yes, Essential Properties Realty Trust, Inc. (EPRT) is profitable, generating $240.3M in net income for fiscal year 2024 (45.2% net margin).

Dividend & Returns

Yes, Essential Properties Realty Trust, Inc. (EPRT) pays a dividend with a yield of 3.69%. This makes it attractive for income-focused investors.

Essential Properties Realty Trust, Inc. (EPRT) has a return on equity (ROE) of 6.2%. This is below average, suggesting room for improvement.

Industry Metrics

Essential Properties Realty Trust, Inc. (EPRT) generated Funds From Operations (FFO) of $385.7M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Essential Properties Realty Trust, Inc. (EPRT) offers a 3.69% 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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