Essential Properties Realty Trust, Inc. (EPRT) Balance Sheet
EPRT balance sheet, 2025
December 31, 2025 · U.S. dollars$6.86B assets = $2.66B liabilities + $4.21B equity
Both columns are drawn to the same scale: what EPRT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
EPRT financial health
Descriptive bands, not a rating. Fiscal 2025.
EPRT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $466.3M2016 | $6.86B2025 | +34.8%/yr | |
| Total liabilities | $291.6M2016 | $2.66B2025 | +27.8%/yr | |
| Shareholders’ equity | $174.7M2016 | $4.20B2025 | +42.4%/yr | |
| Cash & short-term investments | $1.8M2016 | $60.2M2025 | +47.5%/yr | |
| Total debt | $272.8M2016 | $2.52B2025 | +28.0%/yr | |
| Net cash (debt) | −$271.0M2016 | −$2.46B2025 | −$2.2B | |
| Working capital | $11.3M2016 | $546.1M2025 | +$534.8M | |
| Book value per share | $18.542018 | $20.832025 | +1.7%/yr | |
| Current ratio | 5.662016 | 6.132025 | +0.48 | |
| Debt / equity | 1.562016 | 0.602025 | −0.96 | |
| Shares outstanding | 43.7M2018 | 201.6M2025 | +24.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
EPRT assets
EPRT liabilities and equity
EPRT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
EPRT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $60.2M | $40.7M | $39.8M | $62.3M | $59.8M | $26.6M | $8.3M | $4.2M | $7.2M | $1.8M |
| Cash & equivalents | $60.2M | $40.7M | $39.8M | $62.3M | $59.8M | $26.6M | $8.3M | $4.2M | $7.2M | $1.8M |
| Short-term investments | — | — | $4.65B | $3.78B | $3.15B | $2.35B | $1.1M | $4.03B | $12.2M | $10.1M |
| Receivables | $631.8M | $525.5M | $107.5M | $341.6M | $272.9M | $54.3M | $118.1M | $31.8M | $8.2M | $1.2M |
| Inventory | $2.6M | $10.0M | $7.5M | $4.8M | $15.4M | $17.1M | $1.2M | $17.5M | $4.2M | $0 |
| Other current assets | $0 | $4.3M | $9.2M | $9.2M | $0 | $6.4M | $29.0M | $2.2M | $12.5M | $10.7M |
| Total current assets | $652.5M | $580.4M | $164.0M | $417.9M | $348.1M | $104.4M | $156.6M | $55.7M | $32.1M | $13.7M |
| Property, plant & equipment (net) | $0 | $0 | $4.28B | $88.4M | $7.4M | $2.17B | $1.76B | $1.27B | $854.3M | $396.2M |
| Goodwill & intangible assets | $99.2M | $94.0M | $89.2M | $88.4M | $88.0M | $57.4M | $78.9M | $66.4M | $62.5M | $55.9M |
| Long-term investments | $0 | $0 | $0 | $52.7M | $15.4M | $17.1M | $0 | $17.5M | $0 | $0 |
| Other non-current assets | $6.11B | $5.12B | $237.2M | $3.35B | $2.84B | $137.7M | $0 | $0 | $0 | $452,000 |
| Total assets | $6.86B | $5.80B | $4.77B | $4.00B | $3.30B | $2.49B | $1.98B | $1.38B | $942.2M | $466.3M |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | −$9.0M | $64.8M | $42.5M | $36.8M | $18.1M | — | — |
| Short-term debt | $923,000 | $9.5M | $11.4M | $9.0M | $12.7M | $4.1M | $3.9M | $34.0M | $12.3M | $272.8M |
| Deferred revenue | — | — | — | $23.0M | $25.6M | — | — | — | — | — |
| Total current liabilities | $106.4M | $90.8M | $71.0M | $68.7M | $64.8M | $33.7M | $36.8M | $18.1M | $6.9M | $2.4M |
| Long-term debt | $2.51B | $2.12B | $1.67B | $1.42B | $1.02B | $626.3M | $726.9M | $540.1M | $511.6M | $272.8M |
| Lease obligations | $10.8M | $10.7M | $11.2M | $11.6M | $12.7M | $10.2M | $9.6M | $11.6M | $12.3M | $16.4M |
| Other long-term liabilities | $37.0M | $18.3M | $41.6M | $13.8M | $168.5M | $246.9M | $9.6M | $11.6M | $242.3M | $16.4M |
| Total liabilities | $2.66B | $2.23B | $1.78B | $1.50B | $1.25B | $906.9M | $773.3M | $569.9M | $760.8M | $291.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $2.1M | $1.9M | $1.6M | $1.4M | $1.2M | $1.1M | $838,000 | $431,000 | $181.4M | $174.7M |
| Retained earnings (deficit) | −$109.3M | −$113.3M | −$105.5M | −$117.2M | −$101.0M | −$77.7M | −$27.5M | −$7.7M | $181.4M | $174.7M |
| Accumulated other comprehensive income | −$21.0M | $16.9M | $4.0M | $40.7M | −$14.8M | −$114.8M | −$1.9M | $811.0M | $181.4M | $174.7M |
| Minority interest | $7.9M | $8.4M | $8.4M | $8.5M | $7.2M | $7.2M | $7.7M | $248.9M | — | — |
| Total shareholders' equity | $4.20B | $3.56B | $2.98B | $2.50B | $2.04B | $1.57B | $1.20B | $811.0M | $181.4M | $174.7M |
| Key figures | ||||||||||
| Total debt | $2.52B | $2.13B | $1.69B | $1.43B | $1.19B | $863.0M | $730.8M | $574.1M | $741.6M | $272.8M |
| Net cash (debt) | −$2.46B | −$2.09B | −$1.65B | −$1.37B | −$1.13B | −$836.4M | −$722.5M | −$569.9M | −$734.4M | −$271.0M |
| Working capital | $546.1M | $489.7M | $93.0M | $349.2M | $283.4M | $70.7M | $119.8M | $37.6M | $25.3M | $11.3M |
| Tangible book value | $4.10B | $3.47B | $2.89B | $2.41B | $1.95B | $1.52B | $1.12B | $744.6M | $118.9M | $118.8M |
| Book value per share | $20.83 | $20.12 | $19.40 | $18.38 | $17.34 | $16.37 | $15.96 | $18.54 | — | — |
| Shares outstanding | 201.6M | 177.1M | 153.5M | 135.9M | 117.5M | 96.2M | 75.3M | 43.7M | — | — |
| Current ratio | 6.13 | 6.40 | 2.31 | 6.09 | 5.38 | 3.10 | 4.25 | 3.07 | 4.69 | 5.66 |
| Quick ratio | 6.50 | 6.24 | 2.08 | 5.88 | 5.14 | 2.40 | 3.43 | 1.99 | 2.26 | 1.26 |
| Debt / equity | 0.60 | 0.60 | 0.57 | 0.57 | 0.58 | 0.55 | 0.61 | 0.71 | 4.09 | 1.56 |
| Equity / assets | 61.2% | 61.5% | 62.5% | 62.4% | 61.7% | 63.3% | 60.9% | 58.7% | 19.3% | 37.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $134.2M | $15.2M | $60.2M | $23.8M | $20.8M | $47.0M | $40.7M | $32.7M | $23.6M | $79.2M | $39.8M | $36.1M |
| Cash & equivalents | $134.2M | $15.2M | $60.2M | $23.8M | $20.8M | $47.0M | $40.7M | $32.7M | $23.6M | $79.2M | $39.8M | $36.1M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $4.87B | $4.65B | $4.35B |
| Receivables | $728.9M | $659.2M | $631.8M | $621.9M | $575.5M | $548.0M | $525.5M | $137.7M | $145.8M | $380.5M | $364.1M | $115.3M |
| Inventory | $3.9M | $18.2M | $2.6M | $1.4M | $0 | $3.4M | $10.0M | $6.9M | $8.7M | $1.2M | $7.5M | $3.5M |
| Other current assets | $0 | $0 | $0 | $0 | $292,000 | $0 | $4.3M | $329.3M | $935,000 | $0 | $9.2M | $5.9M |
| Total current assets | $863.1M | $674.4M | $652.5M | $647.1M | $596.6M | $598.5M | $580.4M | $506.6M | $179.0M | $214.4M | $420.5M | $160.8M |
| Property, plant & equipment (net) | $6.62B | $0 | $0 | $5.91B | $9.0M | $5.40B | $0 | $9.0M | $4.71B | $8.4M | $8.9M | $4.02B |
| Goodwill & intangible assets | $116.4M | $113.7M | $99.2M | $51.6M | $100.0M | $98.2M | $94.0M | $94.9M | $44.0M | $88.3M | $89.2M | $47.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $6.37B | $6.11B | $1.8M | $5.58B | $0 | $5.12B | $4.92B | $332.9M | $4.70B | $4.25B | $284.2M |
| Total assets | $7.49B | $7.15B | $6.86B | $6.61B | $6.29B | $6.06B | $5.80B | $5.53B | $5.27B | $5.01B | $4.77B | $4.51B |
| Liabilities | ||||||||||||
| Accounts payable | $44.1M | — | — | — | — | — | — | — | — | — | — | — |
| Short-term debt | $684,000 | $916,000 | $923,000 | $347,000 | $711,000 | $9.3M | $9.5M | $9.6M | $677,000 | $10.4M | $9.8M | $348,000 |
| Total current liabilities | $114.3M | $916,000 | $106.4M | $95.8M | $92.7M | $84.5M | $90.8M | $82.7M | $73.3M | $87.0M | $78.4M | $62.0M |
| Long-term debt | $2.90B | $2.61B | $2.51B | $2.63B | $2.32B | $2.12B | $2.12B | $2.20B | $1.92B | $1.67B | $1.67B | $1.59B |
| Lease obligations | $14.2M | $13.8M | $10.8M | $10.9M | $10.8M | $10.4M | $10.7M | $10.9M | $10.8M | $10.9M | $11.2M | $11.2M |
| Other long-term liabilities | $33.7M | $143.0M | $37.0M | $39.4M | $39.1M | $30.5M | $18.3M | $51.3M | $26.5M | $9.5M | $34.2M | $19.5M |
| Total liabilities | $3.04B | $2.76B | $2.66B | $2.77B | $2.45B | $2.23B | $2.23B | $2.33B | $2.01B | $1.77B | $1.78B | $1.67B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2.2M | $2.2M | $2.1M | $2.0M | $2.0M | $2.0M | $1.9M | $1.8M | $1.8M | $1.8M | $1.6M | $1.6M |
| Retained earnings (deficit) | −$119.8M | −$124.8M | −$109.3M | −$112.2M | −$118.2M | −$121.9M | −$113.3M | −$113.2M | −$111.4M | −$111.9M | −$105.5M | −$107.6M |
| Accumulated other comprehensive income | −$1.7M | −$12.4M | −$21.0M | −$20.6M | −$17.8M | −$5.4M | $16.9M | −$25.8M | −$86.0M | −$88.3M | $4.0M | −$58.2M |
| Minority interest | $43.6M | $7.6M | $7.9M | $8.0M | $8.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $4.41B | $4.39B | $4.20B | $3.84B | $3.83B | $3.81B | $3.56B | $3.19B | $3.24B | $3.24B | $2.98B | $2.83B |
| Key figures | ||||||||||||
| Total debt | $2.92B | $2.64B | $2.52B | $2.64B | $2.33B | $2.13B | $2.13B | $2.21B | $1.93B | $1.69B | $1.67B | $1.60B |
| Net cash (debt) | −$2.78B | −$2.63B | −$2.46B | −$2.62B | −$2.31B | −$2.08B | −$2.09B | −$2.17B | −$1.91B | −$1.61B | −$1.63B | −$1.57B |
| Working capital | $748.8M | $673.5M | $546.1M | $551.3M | $503.9M | $513.9M | $489.7M | $423.9M | $105.7M | $127.4M | $342.0M | $98.8M |
| Tangible book value | $4.29B | $4.28B | $4.10B | $3.78B | $3.73B | $3.72B | $3.47B | $3.10B | $3.20B | $3.15B | $2.89B | $2.78B |
| Book value per share | $20.50 | $20.70 | $20.83 | $19.19 | $19.18 | $19.98 | $19.55 | $17.78 | $18.27 | $19.18 | $18.71 | $18.00 |
| Shares outstanding | 215.0M | 212.1M | 201.6M | 199.9M | 199.6M | 191.0M | 182.3M | 179.6M | 177.6M | 168.9M | 159.2M | 157.2M |
| Current ratio | 7.55 | 736.22 | 6.13 | 6.75 | 6.43 | 7.08 | 6.40 | 6.13 | 2.44 | 2.46 | 5.36 | 2.59 |
| Quick ratio | 7.55 | 736.22 | 6.50 | 6.74 | 6.43 | 7.04 | 6.24 | 2.06 | 2.31 | 5.28 | 5.15 | 2.44 |
| Debt / equity | 0.66 | 0.60 | 0.60 | 0.69 | 0.61 | 0.56 | 0.60 | 0.69 | 0.60 | 0.52 | 0.56 | 0.57 |
| Equity / assets | 58.9% | 61.4% | 61.2% | 58.0% | 60.9% | 63.0% | 61.5% | 57.7% | 61.6% | 64.6% | 62.5% | 62.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 11, 2026); data from EODHD.
EPRT financial position
At the end of fiscal 2025 (December 31, 2025), Essential Properties Realty had total assets of $6.9 billion (up 18.4% from a year earlier), total liabilities of $2.7 billion and shareholders' equity of $4.2 billion. It held $60.2 million in cash and short-term investments against $2.5 billion of debt, net debt of $2.5 billion. Its current ratio was 6.13. In the latest quarter (ended June 30, 2026) total assets were $7.5 billion and equity $4.4 billion.
Related: EPRT income statement, EPRT cash flow statement, EPRT key metrics. See the EPRT stock overview for the latest quote and news.
EPRT balance sheet FAQ
What are Essential Properties Realty's total assets?
Essential Properties Realty reported total assets of $6.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.8 billion a year earlier.
How much debt does Essential Properties Realty have?
Essential Properties Realty had $2.5 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.60.
How much cash does Essential Properties Realty have?
Essential Properties Realty held $60.2 million in cash and short-term investments at the end of fiscal 2025; with $2.5 billion of debt that is net debt of $2.5 billion.
What is Essential Properties Realty's book value?
Essential Properties Realty's shareholders' equity (book value) was $4.2 billion at the end of fiscal 2025, or $20.83 per share.
What is Essential Properties Realty's current ratio?
Essential Properties Realty had current assets of $652.5 million and current liabilities of $106.4 million, a current ratio of 6.13 (it can cover its short-term obligations).
How much goodwill does Essential Properties Realty have?
Essential Properties Realty carried $99.2 million of goodwill and intangible assets, 1.4% of total assets, at the end of fiscal 2025.