← ESSENTIAL PROPERTIES REALTY TRUST, INC.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $6.3m |
$20.6m
+227.41%
|
$48.0m
+132.97%
|
$42.5m
-11.45%
|
$96.2m
+126.23%
|
$134.7m
+40.05%
|
$191.4m
+42.06%
|
$203.6m
+6.39%
|
$253.7m
+24.60%
|
$268.5m
+5.83%
|
|
| Depreciation and amortization | $19.5m | $31.4m | $42.7m | $59.4m | $69.1m | $88.6m | $102.2m | $122.2m | $153.6m | $169.5m | |
| Amortization of lease incentives | — | — | $282k | $3.8m | $3.1m | $3.5m | $1.8m | $2.0m | $1.9m | — | |
| Amortization of above/below market leases and right of use assets, net | $531k | $336k | $534k | $9k | $749k | ($217k) | ($275k) | ($238k) | ($129k) | — | |
| Amortization of deferred financing costs and other non-cash interest expense | — | — | $2.8m | $2.5m | $2.7m | $3.1m | $3.9m | $5.4m | $7.5m | — | |
| Provision for impairment of real estate | $2.4m | $4.5m | $2.9m | $8.4m | $6.1m | $20.2m | $3.5m | $14.8m | $12.0m | — | |
| Rent receivables, prepaid expenses and other assets, net | ($2.3m) | ($767k) | $1.2m | ($12.1m) | $2.2m | $4.5m | ($6.0m) | ($7.3m) | ($7.3m) | — | |
| Principal collections on loans and direct financing lease receivables | $79k | $74k | $9.5m | $286k | $100.5m | $70.4m | $27.9m | $10.0m | $28.6m | — | |
| Accrued liabilities and other payables | $4.1m | ($1.6m) | $1.2m | $4.2m | $14.4m | ($3.9m) | $767k | $1.1m | $8.1m | $12.4m | |
| Payable and accrued offering and deferred financing costs | — | $0 | $66k | $0 | $0 | $30k | $24k | $115k | $0 | — | |
| Net cash provided by operating activities | $22.5m |
$45.9m
+104.31%
|
$88.6m
+92.89%
|
$99.4m
+12.22%
|
$167.4m
+68.42%
|
$211.0m
+26.06%
|
$254.6m
+20.64%
|
$308.5m
+21.18%
|
$381.1m
+23.53%
|
$414.1m
+8.66%
|
|
| Investment in real estate, including capital expenditures | ($509.8m) | ($490.0m) | ($570.0m) | ($541.3m) | ($840.0m) | ($728.7m) | ($894.5m) | ($825.8m) | ($1.1b) | — | |
| Proceeds from sales of investments, net | $53.6m | $60.4m | $66.8m | $82.9m | $58.4m | $126.6m | $128.6m | $96.9m | $128.6m | — | |
| Investments in loans receivable | — | ($14.9m) | ($94.6m) | ($60.5m) | ($136.4m) | ($115.0m) | ($13.1m) | ($136.3m) | ($93.1m) | — | |
| Deposits for prospective real estate investments | ($251k) | ($1.7m) | $530k | $475k | ($590k) | ($26k) | $189k | ($3.9m) | ($6.3m) | — | |
| Net settlement of proceeds on the sale of investments | — | $0 | $5.0m | $860k | ($960k) | ($28.9m) | ($4.6m) | ($2.2m) | ($1.6m) | — | |
| Net cash used in investing activities | ($464.4m) | ($461.9m) | ($607.8m) | ($545.5m) | ($829.7m) | ($706.1m) | ($857.1m) | ($1.1b) | ($1.2b) | ($1.2b) | |
| Loss on debt extinguishment | — | — | — | $924k | $4.5m | $2.1m | $116k | $0 | $0 | — | |
| Borrowings under term loans | — | — | $450.0m | $180.0m | $0 | $397.5m | $248.0m | $174.6m | $0 | — | |
| Borrowings under revolving credit facility | — | $34.0m | $459.0m | $87.0m | $393.0m | $299.0m | $70.0m | $490.0m | $855.0m | — | |
| Non-cash borrowing under term loan facility | — | — | — | — | $0 | $0 | ($202.0m) | ($270.0m) | $0 | — | |
| Proceeds from issuance of common stock, net | — | $464.2m | $411.6m | $461.0m | $458.3m | $403.9m | $507.3m | $570.2m | $657.6m | $551.5m | |
| Discounts and fees on capital raised through issuance of common stock | — | $29.6m | $12.0m | $16.7m | $10.9m | $9.9m | $38k | $0 | $0 | — | |
| Dividends paid | — | ($14.1m) | ($63.9m) | ($86.5m) | ($112.3m) | ($141.7m) | ($168.2m) | ($199.7m) | ($233.9m) | ($252.6m) | |
| Dividends declared and unpaid | — | $13.2m | $19.4m | $25.7m | $32.6m | $39.4m | $47.2m | $55.6m | $65.4m | — | |
| Net cash provided by financing activities | $449.4m |
$412.8m
-8.16%
|
$524.4m
+27.04%
|
$457.8m
-12.69%
|
$689.1m
+50.52%
|
$506.8m
-26.45%
|
$580.0m
+14.45%
|
$810.7m
+39.77%
|
$798.4m
-1.52%
|
$868.4m
+8.77%
|
|
| Net increase (decrease) in cash and cash equivalents and restricted cash | $7.5m | ($3.2m) | $5.1m | $11.7m | $26.8m | $11.7m | ($22.5m) | ($4.0m) | $25.4m | — | |
| Cash and cash equivalents and restricted cash, beginning of period | $19.4m | $16.2m | $21.3m | $33.0m | $59.8m | $71.5m | $49.0m | $45.0m | $70.4m | — | |
| Restricted cash | $12.2m | $12.0m | $13.0m | $6.4m | $0 | $9.2m | $9.2m | $4.3m | $10.2m | — | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Change in provision for credit losses | — | — | — | $830k | ($204k) | $88k | ($99k) | $230k | $108k | — | |
| Gain on dispositions of real estate, net | — | — | ($10.9m) | ($5.8m) | ($9.3m) | ($30.6m) | ($24.2m) | ($6.0m) | ($12.8m) | — | |
| Straight-line rent receivable, net | ($4.3m) | ($8.8m) | ($12.3m) | ($15.1m) | ($20.2m) | ($20.8m) | ($28.3m) | ($38.9m) | ($52.2m) | — | |
| Equity-based compensation expense | $841k | $2.4m | $6.2m | $6.1m | $5.7m | $9.5m | $9.0m | $10.8m | $13.2m | — | |
| Adjustment to rental revenue for tenant credit | — | $385k | $593k | $3.6m | ($2.9m) | $371k | $640k | $635k | $3.5m | — | |
| Investment in construction in progress | ($7.7m) | ($15.3m) | ($17.9m) | ($14.4m) | ($9.3m) | ($51.9m) | ($105.1m) | ($263.2m) | ($100.0m) | — | |
| Lease incentives paid | ($275k) | ($519k) | ($2.1m) | ($12.9m) | ($2.2m) | ($7.5m) | ($1.1m) | ($991k) | ($8.6m) | — | |
| Repayments under revolving credit facility | — | $0 | ($447.0m) | ($115.0m) | ($267.0m) | ($443.0m) | ($70.0m) | ($220.0m) | ($855.0m) | — | |
| Proceeds from issuance of senior unsecured notes, net | — | — | $0 | $0 | $396.6m | $0 | $0 | $0 | $390.7m | — | |
| Payments for taxes related to net settlement of equity awards | — | — | $0 | $0 | ($353k) | ($2.5m) | ($3.7m) | ($3.3m) | ($6.4m) | — | |
| Payment of deferred financing costs | — | — | ($6.1m) | ($25k) | ($2.1m) | ($5.0m) | ($2.4m) | ($115k) | ($8.8m) | — | |
| Offering costs | — | ($5.5m) | ($1.8m) | ($2.8m) | ($1.2m) | ($1.0m) | ($948k) | ($1.0m) | ($748k) | — | |
| Cash and cash equivalents | $7.2m | $4.2m | $8.3m | $26.6m | $59.8m | $62.3m | $39.8m | $40.7m | $60.2m | $21.1m | |
| Cash paid for interest, net of amounts capitalized | $20.4m | $27.9m | $29.5m | $27.1m | $24.2m | $36.8m | $49.6m | $73.7m | $99.1m | — | |
| Cash paid for income taxes | $6k | $55k | $60k | $546k | $637k | $1.2m | $1.5m | $902k | $244k | — | |
| Reclassification from construction in progress upon project completion | $4.6m | $18.0m | $7.1m | $22.6m | $4.5m | $26.9m | $45.5m | $200.6m | $199.5m | — | |
| Non-cash investment in real estate and loan receivable activity | — | $0 | $10.4m | ($860k) | $1.2m | $22.7m | $0 | $2.2m | $18.3m | — | |
| Transfer from real estate to direct financing lease receivable | — | — | — | — | — | — | — | $0 | $3.1m | — | |
| Unrealized (loss) gain on cash flow hedges | — | $0 | $2.9m | $44.9m | ($27.9m) | ($56.6m) | ($9.2m) | $42.2m | ($22.4m) | — | |
| Non-cash deferred financing costs | — | — | $0 | $0 | $3.4m | $2.5m | $2.0m | $4.6m | $2.6m | — | |
| Non-cash repayment of term loan facility | — | — | — | — | $0 | $0 | $200.0m | $270.0m | $0 | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.