Essential Properties Realty Trust, Inc. (EPRT) stock analysis
Close on Nov 11, 2026Market cap $6.16BP/E 22.7Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed12 of 30 checks passed
Essential Properties Realty Trust passes 12 of the 30 checks behind our score; 7 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 4/6
- Growth
- 2/6
- Past performance
- 3/6
- Financial health
- 0/6
- Dividend
- 3/6
What stands out
Trading below fair value
The share price of $27.97 is below our fair value estimate of $28.14.
Earnings grew over 5 years
Net income grew 43.0% a year on average over the last five fiscal years.
Revenue growing 10%+ a year
Revenue grew 25.1% a year over the last three fiscal years.
P/E below its 5-year median
Essential Properties Realty Trust's P/E of 22.7 is below its own 5-year median of 24.7.
What to watch
Margin of safety under 20%
The price is 0.6% below fair value, less than the 20% cushion we look for.
Return on equity under 15%
Return on equity was 6.3% over the last twelve months and averaged 6.2% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 9.3%, below the 10% that usually covers the cost of capital.
EPS growing under 10% a year
Diluted EPS grew 8.9% a year over the last three fiscal years.
Valuation4/6
P/E below its 5-year median
Essential Properties Realty Trust's P/E of 22.7 is below its own 5-year median of 24.7.
P/E below the industry
Essential Properties Realty Trust's P/E of 22.7 is below the Miscellaneous Investing median of 26.3.
EV/EBITDA below its 5-year median
Essential Properties Realty Trust's EV/EBITDA of 11.1 is below its 5-year median of 13.3.
P/B above the industry
Essential Properties Realty Trust's price-to-book of 1.36 is above the Miscellaneous Investing median of 1.20.
Trading below fair value
The share price of $27.97 is below our fair value estimate of $28.14.
Margin of safety under 20%
The price is 0.6% below fair value, less than the 20% cushion we look for.
Growth2/6
Revenue growing 10%+ a year
Revenue grew 25.1% a year over the last three fiscal years.
EPS growing under 10% a year
Diluted EPS grew 8.9% a year over the last three fiscal years.
Earnings growth not accelerating
Net income grew 9.2% over the last twelve months, against a 5-year average of 43.0% a year.
Growing faster than the industry
Revenue grew 20.4% over the last twelve months; the Miscellaneous Investing median is 4.6%.
Guidance lowered
Essential Properties Realty Trust lowered its 2026 Cash G&A outlook on Jul 22, 2026.
Gross margin trend
This company does not report gross profit.
Past performance3/6
Return on equity under 15%
Return on equity was 6.3% over the last twelve months and averaged 6.2% over five years; we look for 15% on both.
Return on capital under 10%
Return on invested capital was 9.3%, below the 10% that usually covers the cost of capital.
Return on equity above the industry
Essential Properties Realty Trust's return on equity of 6.3% is above the Miscellaneous Investing median of 3.1%.
Earnings grew over 5 years
Net income grew 43.0% a year on average over the last five fiscal years.
Net margin below its 5-year average
Net margin was 41.0% over the last twelve months, against a 5-year average of 46.3%.
Net margin above the industry
Essential Properties Realty Trust's net margin of 41.0% is above the Miscellaneous Investing median of 10.3%.
Financial health0/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest not well covered
Operating income covers interest expense 3.1 times; we look for at least 5.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Elevated bankruptcy risk
The Altman Z-score is 1.42; above 3 is the safe zone and below 1.8 the distress zone.
Dividend3/6
Pays a dividend
Essential Properties Realty Trust paid dividends worth 4.5% of the share price over the last twelve months.
Yield above Treasuries
The 4.5% yield is above the 4.4% on a 1-year Treasury.
Yield in the top quarter
The top quarter of US dividend payers yield 3.8% or more; Essential Properties Realty Trust yields 4.5%.
Dividend stability
Fewer than five years of dividend history.
Not covered by earnings
Dividends take 100% of net income, leaving little room.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$28.14
The share price is 1% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 25.5× | 24.7× | 26.3× | $31.39 | 40% |
| EV/EBITDA | 11.4× | 13.3× | 9.5× | $28.86 | 35% |
| P/B | 1.4× | 1.5× | 1.2× | $27.91 | 10% |
| Earnings power | 8.0% cost of equity | – | – | $17.95 | 15% |
| Fair value | $28.14 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 24.7
- Miscellaneous Investing median 26.3
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $83.95M
- Value traded per 1% price move
- $57.73M
Downside
Low risk
- Typical loss in a bad month
- 14.0%
- Volatility (annualized)
- 21%
- Sharpe ratio, 1 year
- -0.62
- Beta to the S&P 500 (5Y)
- 0.62
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2016 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +24.8% | +25.1% | +27.9% | – | |
| Operating income | +29.4% | +27.1% | +37.7% | – | |
| Net income | +24.6% | +23.6% | +43.0% | – | |
| EPS, diluted | +11.3% | +8.9% | +23.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 3.1% | 6.5% | |
| Return on assets | – | 1.9% | 4.0% | |
| Interest coverage | – | 2.5× | 3.3× | |
| Capex to revenue | – | – | – | |
| Diluted shares | – | 96M | 198M |
Cash use needs five years of cash flow figures
Essential Properties Realty Trust does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 45.1% | 0.09× | 1.63× | 6.5% |
| FY2024 | 45.2% | 0.09× | 1.62× | 6.2% |
| FY2023 | 53.0% | 0.08× | 1.60× | 7.0% |
| FY2022 | 46.8% | 0.08× | 1.61× | 5.9% |
| FY2021 | 41.6% | 0.08× | 1.60× | 5.3% |
| FY2020 | 25.8% | 0.07× | 1.61× | 3.1% |
| FY2019 | 30.0% | 0.08× | 1.91× | 4.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$253.01M
- Cash generatingOperating cash flow above zero$381.08M
- Return on assets improvedROA up on the prior year4.3% → 4.4%
- Earnings backed by cashOperating cash flow above net income$381.08M vs $253.01M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise177M → 198M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.09 → 0.10
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