Fundies.
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Essential Properties Realty Trust, Inc.

EDGAR
EPRT Current report (8-K) · filed 2026-10-21

Annual consolidated revenue for 2025: about USD 561.2M, using the latest reported figures. The previous period, 2024, was about USD 449.6M.

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Watchlist

Latest quarter

Revenue

169 million USD

2026 Q3 · USD

Exact inputs and evidence

Operating margin

56.03%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 94505000 USD Source
  • Revenue: 168671000 USD Source

Operating cash flow

118 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 328000000 USD Source
  • Operating Cash Flow: 209929000 USD Source
Cash and cash equivalents
25.2 million USD Source
Exact value

25200000 USD

Long-term debt including current maturities
2.99 billion USD Source
Exact value

2991000000 USD

Shares outstanding
220 million shares Source
Exact value

220275169 shares

Reported share-count change

11.17% · 22.1 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 198144552 shares · 2025-09-30· Source
  • 220275169 shares · 2026-09-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

639 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 561219000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 411352000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 158798000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 161888000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 168671000 USD · 2026-07-01 – 2026-09-30 Source

Net income

262 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Net income: 253013000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 184942000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 59792000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 74287000 USD · 2026-04-01 – 2026-06-30 Source
  • Net income: 60157000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

433 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 381080000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 275933000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 99761000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 209929000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 99761000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 328000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 209929000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-21.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 9 of 11 periods available· newest 2025-12-31
  • Operating income: 9 of 11 periods available· newest 2025-12-31
  • Net income: 9 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 9 of 11 periods available· newest 2025-12-31
  • capital expenditure: No compatible figures in this window
  • Total assets: 9 of 11 periods available· newest 2025-12-31
  • Total liabilities: 9 of 11 periods available· newest 2025-12-31
  • current assets: No compatible figures in this window
  • current liabilities: No compatible figures in this window
  • Cash and cash equivalents: 9 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 8 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 8 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +24.8%

    Prior period

    USD 449.61 million

    –

    Current period

    USD 561.22 million

    –

    Exact inputs and evidence

    561219000 − 449610000 = 111609000 USD

    449610000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    561219000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    +24.6%

    Prior period

    USD 203 million

    –

    Current period

    USD 253.01 million

    –

    Exact inputs and evidence

    253013000 − 203004000 = 50009000 USD

    203004000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    253013000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    +23.5%

    Prior period

    USD 308.48 million

    –

    Current period

    USD 381.08 million

    –

    Exact inputs and evidence

    381080000 − 308484000 = 72596000 USD

    308484000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    381080000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 561.22 million 100% of revenue
  • Operating costs Derived USD 201.3 million 36% of revenue
  • Operating income USD 359.92 million 64% of revenue
  • Tax, interest and other Derived USD 106.91 million 19% of revenue
  • Net income USD 253.01 million 45% of revenue

Cash

  • Operating cash flow USD 381.08 million 68% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2017 12%88%
  • 2018 16%36%48%
  • 2019 30%27%43%
  • 2020 26%19%56%
  • 2021 42%17%42%
  • 2022 47%14%39%
  • 2023 53%14%32%
  • 2024 45%17%38%
  • 2025 45%19%36%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2017 2017-01-01 – 2017-12-3154449000 48041000 Derived 6408000 112000 Derived 6296000 Unavailable
Source
2018 2018-01-01 – 2018-12-3196223000 46152000 Derived 50071000 34458000 Derived 15613000 Unavailable
Source
2019 2019-01-01 – 2019-12-31139357000 59546000 Derived 79811000 37967000 Derived 41844000 Unavailable
Source
2020 2020-01-01 – 2020-12-31164009000 91179000 Derived 72830000 30557000 Derived 42273000 Unavailable
Source
2021 2021-01-01 – 2021-12-31230234000 95815000 Derived 134419000 38694000 Derived 95725000 Unavailable
Source
2022 2022-01-01 – 2022-12-31286506000 111083000 Derived 175423000 41293000 Derived 134130000 Unavailable
Source
2023 2023-01-01 – 2023-12-31359595000 116842000 Derived 242753000 52046000 Derived 190707000 Unavailable
Source
2024 2024-01-01 – 2024-12-31449610000 171417000 Derived 278193000 75189000 Derived 203004000 Unavailable
Source
2025 2025-01-01 – 2025-12-31561219000 201298000 Derived 359921000 106908000 Derived 253013000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 561.2M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.606.1M454.6M303.1M151.5M0.0201720212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Revenue54449000
2018Revenue96223000
2019Revenue139357000
2020Revenue164009000
2021Revenue230234000
2022Revenue286506000
2023Revenue359595000
2024Revenue449610000
2025Revenue561219000

Revenue growth

Change in revenue from the same financial period one year earlier.

24.8% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.83%62%41%21%0%201720212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2017Year over yearNo prior comparable period
2018Year over year76.7%
2019Year over year44.8%
2020Year over year17.7%
2021Year over year40.4%
2022Year over year24.4%
2023Year over year25.5%
2024Year over year25%
2025Year over year24.8%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 64.1% 2025
Net margin 45.1% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.73%55%36%18%0%201720212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2017Operating margin11.8%
2018Operating margin52%
2019Operating margin57.3%
2020Operating margin44.4%
2021Operating margin58.4%
2022Operating margin61.2%
2023Operating margin67.5%
2024Operating margin61.9%
2025Operating margin64.1%
2017Net margin11.6%
2018Net margin16.2%
2019Net margin30%
2020Net margin25.8%
2021Net margin41.6%
2022Net margin46.8%
2023Net margin53%
2024Net margin45.2%
2025Net margin45.1%
2017Free cash flow marginNot reported
2018Free cash flow marginNot reported
2019Free cash flow marginNot reported
2020Free cash flow marginNot reported
2021Free cash flow marginNot reported
2022Free cash flow marginNot reported
2023Free cash flow marginNot reported
2024Free cash flow marginNot reported
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD 381.1M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.411.6M308.7M205.8M102.9M0.0201720212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Operating cash flow22474000
2018Operating cash flow45917000
2019Operating cash flow88568000
2020Operating cash flow99388000
2021Operating cash flow167393000
2022Operating cash flow211022000
2023Operating cash flow254574000
2024Operating cash flow308484000
2025Operating cash flow381080000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Not enough comparable data to show this history.
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2017Free cash flowUnavailable
2018Free cash flowUnavailable
2019Free cash flowUnavailable
2020Free cash flowUnavailable
2021Free cash flowUnavailable
2022Free cash flowUnavailable
2023Free cash flowUnavailable
2024Free cash flowUnavailable
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

38.7% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.87%65%44%22%0%201720212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2017Liabilities / assets80.7%
2018Liabilities / assets41.3%
2019Liabilities / assets39.1%
2020Liabilities / assets36.4%
2021Liabilities / assets38%
2022Liabilities / assets37.6%
2023Liabilities / assets37.4%
2024Liabilities / assets38.4%
2025Liabilities / assets38.7%

Current assets to current liabilities

Current assets divided by current liabilities.

Not enough comparable data to show this history.
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2017-12-31Current assets / current liabilitiesNot reportedNo source recorded
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019-12-31Current assets / current liabilitiesNot reportedNo source recorded
2020-12-31Current assets / current liabilitiesNot reportedNo source recorded
2021-12-31Current assets / current liabilitiesNot reportedNo source recorded
2022-12-31Current assets / current liabilitiesNot reportedNo source recorded
2023-12-31Current assets / current liabilitiesNot reportedNo source recorded
2024-12-31Current assets / current liabilitiesNot reportedNo source recorded
2025-12-31Current assets / current liabilitiesNot reportedNo source recorded

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2017 2017-01-01 – 2017-12-31
USD 6.3 million
Exact value

Exact value: 6296000 USD

2017-01-01 – 2017-12-31: 6296000 USD Inspect Net Income Open source
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USD 22.47 million
Exact value

Exact value: 22474000 USD

2017-01-01 – 2017-12-31: 22474000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2018 2018-01-01 – 2018-12-31
USD 15.61 million
Exact value

Exact value: 15613000 USD

2018-01-01 – 2018-12-31: 15613000 USD Inspect Net Income Open source
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USD 45.92 million
Exact value

Exact value: 45917000 USD

2018-01-01 – 2018-12-31: 45917000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2019 2019-01-01 – 2019-12-31
USD 41.84 million
Exact value

Exact value: 41844000 USD

2019-01-01 – 2019-12-31: 41844000 USD Inspect Net Income Open source
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USD 88.57 million
Exact value

Exact value: 88568000 USD

2019-01-01 – 2019-12-31: 88568000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2020 2020-01-01 – 2020-12-31
USD 42.27 million
Exact value

Exact value: 42273000 USD

2020-01-01 – 2020-12-31: 42273000 USD Inspect Net Income Open source
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USD 99.39 million
Exact value

Exact value: 99388000 USD

2020-01-01 – 2020-12-31: 99388000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2021 2021-01-01 – 2021-12-31
USD 95.73 million
Exact value

Exact value: 95725000 USD

2021-01-01 – 2021-12-31: 95725000 USD Inspect Net Income Open source
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USD 167.39 million
Exact value

Exact value: 167393000 USD

2021-01-01 – 2021-12-31: 167393000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2022 2022-01-01 – 2022-12-31
USD 134.13 million
Exact value

Exact value: 134130000 USD

2022-01-01 – 2022-12-31: 134130000 USD Inspect Net Income Open source
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USD 211.02 million
Exact value

Exact value: 211022000 USD

2022-01-01 – 2022-12-31: 211022000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2023 2023-01-01 – 2023-12-31
USD 190.71 million
Exact value

Exact value: 190707000 USD

2023-01-01 – 2023-12-31: 190707000 USD Inspect Net Income Open source
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USD 254.57 million
Exact value

Exact value: 254574000 USD

2023-01-01 – 2023-12-31: 254574000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2024 2024-01-01 – 2024-12-31
USD 203 million
Exact value

Exact value: 203004000 USD

2024-01-01 – 2024-12-31: 203004000 USD Inspect Net Income Open source
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USD 308.48 million
Exact value

Exact value: 308484000 USD

2024-01-01 – 2024-12-31: 308484000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2025 2025-01-01 – 2025-12-31
USD 253.01 million
Exact value

Exact value: 253013000 USD

2025-01-01 – 2025-12-31: 253013000 USD Inspect Net Income Open source
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USD 381.08 million
Exact value

Exact value: 381080000 USD

2025-01-01 – 2025-12-31: 381080000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

48 filings · 2,321 latest values · 2,321 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001728951, 1728951, EPRT, edgar:1728951

Also known as ESSENTIAL PROPERTIES REALTY TRUST, INC., Essential Properties Realty Trust, Inc.