Essential Properties Realty Trust, Inc.
EPRT Real Estate Reit Retail
Essential Properties Realty Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $561.2 million, up 24.8% from fiscal 2024.
- Revenue
- +16.4%
- EPS
- −15.2%
- Free cash flow
- +12.9%
- Total debt
- +12.7%
Quarter to September 2026, against a year earlier
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Essential Properties Realty Trust, Inc. 10-Q filed Oct 21, 2026
Red flags
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Share dilution
Shares outstanding rose 11.2% in a year, to 220.3 million
What changed
Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Jul 22, 2026: 5 added · 6 removed · 33 modified; 60 with only figures updated
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Modified · Overview
Healthy Rent Coverage Ratio and Tenant Financial Reporting. As of
JuneSeptember 30, 2026, our portfolio’s weighted average unit-level rent coverage ratio was 3.5x, and99.299.3% of our leases (based on annualized base rent) obligate the tenant to periodically provide us with specified unit-level financial reporting. "Unit-Level Rent coverage ratio" means, as of a specified date, the ratio of (x) tenant-reported or, when unavailable, management's estimate (based on tenant-reported financial information) of annual earnings before interest, taxes, depreciation, amortization and cash rent attributable to the leased property (or properties, in the case of a master lease) to (y) the annualized base rental obligation, excluding properties with no cash ABR and properties under construction.