The company maintains a conservative debt-to-equity ratio of 0.60 as of 2026Q1, though total assets have expanded rapidly to $7.2 billion through consistent external financing.
| Total Assets | 7.15B | 6.86B | 5.8B | 4.77B | 4B | 3.3B | 2.49B | 1.98B | 1.38B | 942.22M | 466.29M |
| Asset Growth % | 75.35% | 18.35% | 21.61% | 19.21% | 21.26% | 32.55% | 25.99% | 43.05% | 46.56% | 102.07% | - |
| Real Estate & Other Assets | 0 | -6.16B | 5.07B | -10.37M | 3.58B | 2.86B | 148.93M | 1.74B | 1.26B | 847.62M | 396.69M |
| PP&E (Net) | 0 | 0 | 0 | 4.28B | 0 | 0 | 2.17B | 1.76B | 1.27B | 854.33M | 396.24M |
| Investment Securities | 0 | 1000K | 1000K | 1000K | 0 | 0 | 1000K | 1000K | -1000K | -1000K | -1000K |
| Total Current Assets | 674.37M | 652.51M | 580.45M | 163.96M | 417.89M | 348.11M | 104.38M | 156.6M | 55.71M | 32.15M | 13.74M |
| Cash & Equivalents | 15.18M | 60.18M | 40.71M | 39.81M | 62.34M | 59.76M | 26.6M | 8.3M | 4.24M | 7.25M | 1.82M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 0 | -39.47M | -25.68M | 16.61M | 9.15M | 0 | 23.45M | 93.83M | 19.71M | 15.22M | 10.67M |
| Intangible Assets | 113.72M | 99.22M | 94.05M | 89.21M | 0 | 87.96M | 57.45M | 78.92M | 66.42M | 62.45M | 55.86M |
| Total Liabilities | 2.76B | 2.66B | 2.23B | 1.78B | 1.5B | 1.25B | 906.85M | 773.33M | 569.86M | 760.82M | 291.64M |
| Total Debt | 2.64B | 2.52B | 2.13B | 1.69B | 1.44B | 1.19B | 862.99M | 726.92M | 540.12M | 741.65M | 272.82M |
| Net Debt | 2.63B | 2.46B | 2.09B | 1.65B | 1.38B | 1.13B | 836.39M | 718.62M | 535.88M | 734.4M | 271M |
| Long-Term Debt | 2.61B | 2.51B | 2.12B | 1.67B | 1.42B | 1.17B | 854.19M | 731M | 540.12M | 741.65M | 272.82M |
| Short-Term Borrowings | 916K | 0 | 9.47M | 9.78M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 58.73M | 10.77M | 10.7M | 12.85M | 23.1M | 25.39M | 8.8M | 7.5M | 23.23M | 24.64M | 32.77M |
| Total Current Liabilities | 112.07M | 106.42M | 90.75M | 70.99M | 68.66M | 64.75M | 33.7M | 36.85M | 18.13M | 6.85M | 2.43M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 773.33M | 569.86M | 760.82M | 291.64M |
| Other Liabilities | 115.84M | 26.23M | 7.58M | 30.44M | 2.27M | 11.84M | 10.17M | -2.02M | 0 | -242.12M | -16.39M |
| Total Equity | 4.4B | 4.21B | 3.57B | 2.99B | 2.5B | 2.04B | 1.58B | 1.2B | 811.04M | 915.94M | 451.94M |
| Equity Growth % | 70.89% | 17.8% | 19.59% | 19.63% | 22.16% | 29.2% | 31.6% | 48.22% | -11.45% | 102.67% | - |
| Shareholders Equity | 4.39B | 4.2B | 3.56B | 2.98B | 2.49B | 2.04B | 1.57B | 1.19B | 562.18M | 181.4M | 174.65M |
| Minority Interest | 7.63M | 7.9M | 8.45M | 8.42M | 8.51M | 7.24M | 7.19M | 7.66M | 248.86M | 734.54M | 277.29M |
| Common Stock | 2.16M | 2.1M | 1.88M | 1.65M | 1.42M | 1.25M | 1.06M | 838K | 431K | 181.4M | 174.65M |
| Additional Paid-in Capital | 4.52B | 4.33B | 3.66B | 3.08B | 2.56B | 2.15B | 1.69B | 1.22B | 569.41M | 0 | 0 |
| Retained Earnings | -124.77M | -109.26M | -113.3M | -105.55M | -117.19M | -100.98M | 0 | -27.48M | -7.66M | 181.4M | 174.65M |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 3.81% | 4% | 3.84% | 4.35% | 3.68% | 3.31% | 1.89% | 2.49% | 1.34% | 0.89% | 0.8% |
| Return on Equity (ROE) | 6.3% | 6.5% | 6.19% | 6.96% | 5.91% | 5.28% | 3.04% | 4.16% | 1.81% | 0.92% | 0.83% |
| Debt / Assets | 36.91% | 36.75% | 36.7% | 35.46% | 36.1% | 36.11% | 34.67% | 36.8% | 39.11% | 78.71% | 58.51% |
| Debt / Equity | 0.60x | 0.60x | 0.60x | 0.57x | 0.58x | 0.58x | 0.55x | 0.60x | 0.67x | 0.81x | 0.60x |
| Net Debt / EBITDA | 4.79x | 4.77x | 5.21x | 4.79x | 5.23x | 5.57x | 6.32x | 5.84x | 7.95x | 13.38x | 25.59x |
| Book Value per Share | 20.73 | 20.87 | 20.17 | 19.46 | 18.38 | 17.40 | 16.44 | 15.96 | 18.54 | 22.35 | 11.03 |
External capital dependency
As reported in recent financial statements, EPRT has grown total assets from $4.8 billion in 2023Q4 to $7.2 billion in 2026Q1, reflecting a rapid acquisition-led expansion strategy that consistently outpaces the organic growth of the underlying property portfolio.
The consistent increase in total assets suggests a management team focused on scaling the platform to achieve operational efficiencies. However, investors should monitor whether this rapid growth in asset volume is translating into commensurate long-term value creation or if it is merely masking the need for constant capital recycling.
Based on the provided balance sheet data, EPRT maintains a debt-to-equity ratio of 0.60 as of 2026Q1, which appears notably conservative compared to broader net lease REIT peers and suggests a disciplined approach to managing property-level financing.
This low leverage profile may provide the company with significant dry powder for future acquisitions or defensive positioning during market volatility. Analysts should investigate whether this capital structure is a permanent strategic choice or a temporary result of recent equity issuance cycles.
According to quarterly filings, cash reserves have fluctuated significantly, reaching a low of $15.2 million in 2026Q1, which indicates a reliance on external financing to fund the company's substantial and ongoing acquisition pipeline.
The minimal cash balance suggests that the company operates with little margin for error, necessitating consistent access to capital markets. This reliance on external funding sources warrants further investigation into the company's sensitivity to interest rate environments and potential dilution risks for shareholders.
As reported in financial statements, equity has expanded from $3.0 billion in 2023Q4 to $4.4 billion in 2026Q1, a trend that appears driven by consistent secondary market activity rather than purely retained earnings.
The reliance on equity issuance to fund growth may indicate that the company's internal cash generation is insufficient to support its expansionary goals. Investors should monitor the impact of this ongoing dilution on per-share metrics to ensure that growth remains accretive to long-term shareholders.
Quick answers to the most common questions about buying EPRT stock.
As of 2025, Essential Properties Realty Trust, Inc. (EPRT) had total assets of $6.86B including $652.5M in current assets.
Essential Properties Realty Trust, Inc. (EPRT) carries total debt of $2.52B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Essential Properties Realty Trust, Inc. (EPRT) has total shareholders' equity (book value) of $4.20B ($20.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Essential Properties Realty Trust, Inc. (EPRT) reported a current ratio of 6.13x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.