EPRT
Essential Properties Realty Trust, Inc.
EPRT's fundamentals are mixed: revenue grew 20%, but its operating margin fell 3 points to 61%. At 22x earnings, it's trading below its usual 25x. Analysts expect earnings to hold roughly steady.
EPRT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
EPRT's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for real estate companies like EPRT.
EPRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 21x | $27.63 | — |
| Cheap | 22x | $26.71 | -3.3% |
| Current | 22x | $27.63 | — |
| Fair | 25x | $31.29 | +13% |
| Expensive | 41x | $50.62 | +83% |
Historical ranges are pointers, not guarantees.
EPRT's PE is in its cheap range at 22x. On analysts' estimates for next year's earnings, today's price would be 21x.
EPRT Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect EPRT's revenue to grow, but its profitability to weaken.
EPRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.29 | +5.2% |
| Q3 2026 | $1.23 | -1.6% |
| Q2 2026 | $1.29 | +8.4% |
| Q1 2026 | $1.27 | +9.5% |
| Q4 2025 | $1.28 | +11% |
| Q3 2025 | $1.25 | +8.7% |
| Q2 2025 | $1.19 | +1.7% |
| Q1 2025 | $1.16 | -5.7% |
| Q4 2024 | $1.15 | -7.3% |
EPRT earned $1.23 per share over the past year, down 1.6% from the year before.
EPRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $168.7M | +16% |
| Q2 2026 | $161.9M | +18% |
| Q1 2026 | $158.8M | +23% |
| Q4 2025 | $149.9M | +25% |
| Q3 2025 | $144.9M | +24% |
| Q2 2025 | $137.1M | +25% |
| Q1 2025 | $129.4M | +25% |
| Q4 2024 | $119.7M | +22% |
EPRT's revenue has grown year over year every quarter since late 2020: $169M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 56% | -8.6 points |
| Q2 2026 | 65% | +0.4 points |
| Q1 2026 | 56% | -5.1 points |
| Q4 2025 | 66% | -0.2 points |
| Q3 2025 | 65% | +5 points |
| Q2 2025 | 64% | +2.9 points |
| Q1 2025 | 62% | +1.3 points |
| Q4 2024 | 66% | 0 points |
EPRT's operating margin was 56% last quarter, down 8.6 points from the same quarter a year ago.
EPRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $118.1M | +19% |
| Q2 2026 | $110.2M | +10% |
| Q1 2026 | $99.8M | +29% |
| Q4 2025 | $105.1M | +21% |
| Q3 2025 | $99M | +35% |
| Q2 2025 | $99.8M | +23% |
| Q1 2025 | $77.2M | +16% |
| Q4 2024 | $87.1M | +20% |
EPRT's free cash flow was $433M over the past year, up 19% from the year before. Free cash flow isn't a meaningful measure for real estate companies like EPRT.
EPRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +1.2M shares |
| 1 year | +9.6% | +19.2M shares |
| 3 years | +39% | +61.9M shares |
| 5 years | +82% | +98.8M shares |
| Available history | +191% | +144M shares |
EPRT has 219M diluted shares, up 9.6% from a year ago.
EPRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.3x | High |
| Q2 2026 | 5.1x | High |
| Q1 2026 | 5.0x | High |
| Q4 2025 | 4.9x | High |
| Q3 2025 | 5.5x | High |
| Q2 2025 | 5.2x | High |
| Q1 2025 | 5.0x | High |
| Q4 2024 | 5.3x | High |
EPRT's net debt is about 5.3 years of its operating earnings (EBITDA), about the same as a year ago. Net leverage isn't a meaningful measure for real estate companies like EPRT.
EPRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.5 | Neutral |
| Stochastic | 39.8 | Neutral |
EPRT's weekly RSI is 43 (neutral) and its Stochastic is 40 (neutral).
EPRT PE vs Real Estate Sector
| Metric | EPRT | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 24x | 6.1% below |
| PE % | 22 | 23 | 1 pt below |
EPRT is trading at 22x earnings, in line with the Real Estate sector's median of 24x.
EPRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $26.6 | 3.8% above |
| 20 week MA | $29.0 | 4.8% below |
| 50 week MA | $30.3 | 8.9% below |
| 100 week MA | $30.8 | 10% below |
| 200 week MA | $28.6 | 3.5% below |
EPRT has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 3.5% below its 200-week average.
EPRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $24.6 | $21.3 | -13% |
| 2021 | $21.3 | $27.9 | +31% |
| 2022 | $27.9 | $23.5 | -16% |
| 2023 | $23.5 | $25.6 | +9% |
| 2024 | $25.6 | $31.3 | +23% |
| 2025 | $31.3 | $29.7 | -5.3% |
| 2026 YTD | $29.7 | $27.6 | -6.9% |
EPRT has finished lower in three of the last six years. It's down 6.9% so far in 2026.