EPRT ESSENTIAL PROPERTIES REALTY TRUST, INC.
FY2025 10-K
ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) filed its fiscal year 2025 10-K annual report with the SEC on Feb 11, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Acquires, owns, manages single-tenant, net leased properties to middle-market service and experience-based companies
- • New emphasis: Increased investment in sale-leaseback and master lease structures, 95% and 73% weighted by annualized base rent respectively in 2025
Management Discussion & Analysis
- • Total revenues $561.2M, up 24.8% YoY ($111.6M increase), driven by rental revenue growth of $101.8M (23.9%)
- • Operating income $359.9M vs $278.2M, net income attributable to stockholders $253.0M vs $203.0M, net margin approx. 45.1% vs 45.2%
Risk Factors
- • Regulatory risk from REIT qualification requirements under U.S. tax code, needing 90% distribution of taxable income, limiting retained earnings use
- • Geographic concentration risk with 99.7% portfolio occupancy in 48 U.S. states, exposure to U.S. economic downturns affecting middle-market service tenants
Financial SummaryXBRL
Revenue
$561M
Net Income
$253M
Operating Margin
64.1%
Net Margin
45.1%
ROE
6.0%
Total Assets
$6.9B
EPS (Diluted)
$1.28
Operating Cash Flow
$381M
Source: XBRL data from ESSENTIAL PROPERTIES REALTY TRUST, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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