← ESSENTIAL PROPERTIES REALTY TRUST, INC.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Loans and direct financing lease receivables, net | $17.5m | $92.2m | $152.2m | $189.3m | $240.0m | $223.9m | $352.1m | $401.3m | |
| Cash and cash equivalents | $4.2m | $8.3m | $26.6m | $59.8m | $62.3m | $39.8m | $40.7m | $60.2m | |
| Straight-line rent receivable, net | $14.3m | $25.9m | $37.8m | $58.0m | $78.6m | $107.5m | $143.4m | $191.0m | |
| Rent receivables, prepaid expenses and other assets, net | $7.7m | $16.0m | $25.4m | $25.6m | $23.0m | $32.7m | $29.9m | $39.5m | |
| Intangible lease assets | $66.4m | $78.9m | $80.3m | $88.0m | $88.4m | $89.2m | $94.0m | $99.2m | |
| Intangible lease liabilities, net | $11.6m | $9.6m | $10.2m | $12.7m | $11.6m | $11.2m | $10.7m | $10.8m | |
| Land and improvements | $420.8m | $588.3m | $741.3m | $1.0b | $1.2b | $1.5b | $1.9b | $2.2b | |
| Building and improvements | $885.7m | $1.2b | $1.5b | $2.0b | $2.4b | $2.9b | $3.5b | $4.4b | |
| Lease incentives | $2.8m | $4.9m | $14.3m | $13.9m | $18.4m | $17.9m | $17.9m | $24.2m | |
| Construction in progress | $1.3m | $12.1m | $3.9m | $8.9m | $34.5m | $96.5m | $153.8m | $49.9m | |
| Less: accumulated depreciation and amortization | ($51.9m) | ($90.1m) | ($136.1m) | ($200.2m) | ($276.3m) | ($367.1m) | ($476.8m) | ($612.7m) | |
| Real estate investments held for sale, net | $0 | $1.2m | $17.1m | $15.4m | $4.8m | $7.5m | $10.0m | $2.6m | |
| Net investments | $1.3b | $1.9b | $2.4b | $3.2b | $3.8b | $4.5b | $5.6b | $6.6b | |
| Restricted cash | $12.0m | $13.0m | $6.4m | $0 | $9.2m | $9.2m | $4.3m | $10.2m | |
| Derivative assets | — | — | — | $0 | $47.9m | $31.0m | $27.7m | $7.9m | |
| Unsecured term loans, net of deferred financing costs | $0 | $445.6m | $626.3m | $627.0m | $1.0b | $1.3b | $1.7b | $1.7b | |
| Senior unsecured notes, net | — | — | $0 | $394.7m | $395.3m | $395.8m | $396.4m | $786.7m | |
| Revolving credit facility | $34.0m | $46.0m | $18.0m | $144.0m | $0 | $0 | $0 | $0 | |
| Dividend payable | $13.2m | $19.4m | $25.7m | $32.6m | $39.4m | $47.2m | $55.6m | $65.4m | |
| Derivative liabilities | — | $4.1m | $38.9m | $11.8m | $2.3m | $23.0m | $7.6m | $26.2m | |
| Distributions in excess of cumulative earnings | ($7.7m) | ($27.5m) | ($77.7m) | ($101.0m) | ($117.2m) | ($105.5m) | ($113.3m) | ($109.3m) | |
| Non-controlling interests | $248.9m | $7.7m | $7.2m | $7.2m | $8.5m | $8.4m | $8.4m | $7.9m | |
| Total real estate investments, at cost | $1.4b | $1.9b | $2.4b | $3.2b | $3.8b | $4.7b | $5.7b | $6.8b | |
| Total real estate investments, net | $1.3b | $1.8b | $2.2b | $3.0b | $3.5b | $4.3b | $5.2b | $6.2b | |
| Total equity | $811.0m | $1.2b | $1.6b | $2.0b | $2.5b | $3.0b | $3.6b | $4.2b | |
| Total assets | $1.4b | $2.0b | $2.5b | $3.3b | $4.0b | $4.8b | $5.8b | $6.9b | |
| Accrued liabilities and other payables | $4.9m | $17.5m | $16.8m | $32.1m | $29.3m | $31.2m | $35.1m | $41.0m | |
| Total liabilities | $569.9m | $773.3m | $906.9m | $1.3b | $1.5b | $1.8b | $2.2b | $2.7b | |
| Commitments and contingencies (see Note 11) | $0 | $0 | $0 | $0 | $0 | $0 | — | — | |
| Preferred stock, $0.01 par value per share; 150,000,000 authorized; none issued and outstanding as of December 31, 2025 and 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Common stock, $0.01 par value per share; 500,000,000 authorized; 209,702,433 and 187,537,592 issued and outstanding as of December 31, 2025 and 2024, respectively | $431,000.00 | $838,000.00 | $1,064,000.00 | $1,246,000.00 | $1,424,000.00 | $1,646,000.00 | $1,875,000.00 | $2,097,000.00 | |
| Additional paid-in capital | $569.4m | $1.2b | $1.7b | $2.2b | $2.6b | $3.1b | $3.7b | $4.3b | |
| Accumulated other comprehensive (loss) income | $0 | ($1.9m) | ($37.2m) | ($14.8m) | $40.7m | $4.0m | $16.9m | ($21.0m) | |
| Total stockholders' equity | $562.2m | $1.2b | $1.6b | $2.0b | $2.5b | $3.0b | $3.6b | $4.2b | |
| Total liabilities and equity | $1.4b | $2.0b | $2.5b | $3.3b | $4.0b | $4.8b | $5.8b | $6.9b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.