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EPR Properties

EPR NYSE Other Specialized REITs Financials FY2016–FY2025

EPR Properties' revenue rose 2.9% to $718 million in fiscal 2025. Its operating margin was 57.7%, up from 45.2% a year earlier. Free cash flow was $269 million, up 108.3%. It paid out $301 million in dividends and buybacks, 112% of free cash flow. The diluted share count rose 0.7%.

Last close · Oct 23, 2026

$55.97

0.7%
Value it Compare
Revenue Total sales reported in the income statement.
$718M
2.9% vs prior year
Operating margin Operating income as a share of revenue.
57.7%
12.5 pts
Net income Profit after all expenses, interest and tax.
$275M
88.2%
Free cash flow Cash from operations minus capital spending.
$269M
108.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
8.0%
1.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$4.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
17.9x
On $3.12 EPS (TTM)

What EPR Properties does

No business description yet.

Legal name
EPR PROPERTIES
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0001045450-26-000007
0001045450

Revenue and margins

EPR Properties had $718M of revenue in fiscal 2025, up 2.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 0.4% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $269M in fiscal 2025, 37.5% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

EPR Properties returned $301M to shareholders in fiscal 2025, 112% of free cash flow. The diluted share count rose 0.7%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value EPR Properties yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$2.8B and divides by 76.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 17.9x · peers 31.3x · sector 28.2x.

Balance sheet

Cash, debt and the ratios that show how comfortably EPR Properties can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $289M$108M$78.1M$22.1M$90.6M
Debt incl. finance leases $2.8B$2.8B$2.8B$2.9B$2.9B
Net debt / EBITDA 5.7x5.7x5.8x5.9x4.9x
Debt / equity 1.1x1.1x1.2x1.2x1.3x
Interest coverage 1.9x2.4x2.5x2.4x3.1x
Total assets $5.8B$5.8B$5.7B$5.6B$5.7B
Total liabilities $3.2B$3.2B$3.2B$3.3B$3.4B
Shareholders' equity $2.6B$2.5B$2.5B$2.3B$2.3B
Net debt (− = net cash) $2.5B$2.7B$2.7B$2.8B$2.8B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$3.2M

6 insiders

Of sales under plans

94%

$3.0M

DateInsiderTradeSharesPriceValueFiling
Aug 19, 2026 Elizabeth GraceSVP - Human Resources & Admin Sold plan 4,200 $60.57 $0.3M Form 4
Aug 6, 2026 Robin Peppe SterneckDirector Sold 3,403 $61.54 $0.2M Form 4
Aug 3, 2026 Tonya L. MaterSVP & Chief Accounting Officer Sold plan 6,692 $61.79 $0.4M Form 4
Jul 17, 2026 Gwendolyn Mary JohnsonSVP - Asset Management Sold plan 1,000 $62.50 $0.1M Form 4
Jul 7, 2026 Gwendolyn Mary JohnsonSVP - Asset Management Sold plan 1,000 $60.00 $0.1M Form 4
Jun 23, 2026 Gwendolyn Mary JohnsonSVP - Asset Management Sold plan 2,000 $58.11 $0.1M Form 4
Jun 23, 2026 Paul Robert TurveySVP, General Counsel Sold plan 6,400 $58.20 $0.4M Form 4
Jun 10, 2026 Mark Alan PetersonEVP & Chief Financial Officer Sold plan 8,334 $60.00 $0.5M Form 4
May 7, 2026 Mark Alan PetersonEVP & Chief Financial Officer Sold plan 8,696 $57.50 $0.5M Form 4
Apr 15, 2026 Tonya L. MaterSVP & Chief Accounting Officer Sold plan 2,600 $56.50 $0.1M Form 4
Apr 14, 2026 Mark Alan PetersonEVP & Chief Financial Officer Sold plan 9,091 $55.00 $0.5M Form 4
Apr 14, 2026 Tonya L. MaterSVP & Chief Accounting Officer Sold plan 2,000 $56.00 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose — — —
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✓ ✕ ✓
F-score — / 9— / 9— / 9
Accruals ratio −4.8%−4.4%−2.6%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
EPR Properties EPR $4.3B 2.9% 57.7% 37.5% 8.0% 17.9x —
Gaming and Leisure Properties GLPI $11.3B 4.1% 75.3% 51.7% 10.2% 11.6x — Compare →
Lamar Advertising LAMR $15.8B 2.7% 34.2% 30.2% 17.3% 28.3x 8 Compare →
Iron Mountain IRM $33.0B 12.2% 16.9% −13.5% 5.6% 78.5x 5 Compare →
Agree Realty ADC $8.3B 16.4% 47.4% 70.2% — 34.4x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $493M $518M $640M $652M $415M $532M $658M $706M $698M $718M
Operating income — — — — $52.1M $279M $311M $306M $316M $414M
Interest expense $97.1M $134M $136M $142M $158M $148M $131M $125M $131M $133M
Pretax income $226M $228M $224M $152M −$115M $100M $178M $175M $148M $277M
Income tax $0.6M $2.4M $2.3M −$3.0M $16.8M $1.6M $1.2M $1.7M $1.4M $2.5M
Net income $225M $263M $267M $202M −$132M $98.6M $176M $173M $146M $275M
Diluted EPS $3.17 $3.29 $3.27 $2.32 −$2.05 $1.00 $2.03 $1.97 $1.60 $3.28
Diluted shares 0.06B 0.07B 0.07B 0.08B 0.08B 0.07B 0.08B 0.08B 0.08B 0.08B
Cash flow
Cash from operations $305M $398M $484M $440M $65.3M $307M $442M $447M $393M $421M
Capital expenditure $219M $398M $188M $501M $38.7M $56.6M $403M $269M $264M $152M
Free cash flow $86.2M $0.7M $297M −$61.1M $26.6M $250M $39.2M $178M $129M $269M
Depreciation and amortization $108M $121M $138M $159M $170M $164M $164M $168M $166M $169M
Stock-based compensation $11.2M $14.1M $15.1M $13.2M — $14.9M $16.7M $17.5M $14.1M $15.3M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $4.2M $6.7M $7.2M $9.7M $7.4M $2.8M $4.3M $3.7M $11.4M $9.9M
Dividends paid $266M $312M $342M $367M $173M $118M $266M $272M $280M $291M
Dividends and buybacks $270M $318M $349M $377M $180M $120M $270M $276M $291M $301M
Balance sheet
Cash and short-term investments $19.3M $41.9M $5.9M $529M $1.0B $289M $108M $78.1M $22.1M $90.6M
Total debt $2.5B $3.0B $3.0B $3.1B $3.7B $2.8B $2.8B $2.8B $2.9B $2.9B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $4.9B $6.2B $6.1B $6.6B $6.7B $5.8B $5.8B $5.7B $5.6B $5.7B
Total liabilities $2.7B $3.3B $3.3B $3.6B $4.1B $3.2B $3.2B $3.2B $3.3B $3.4B
Shareholders' equity $2.2B $2.9B $2.9B $3.0B $2.6B $2.6B $2.5B $2.5B $2.3B $2.3B
Margins
Operating margin — — — — 12.6% 52.4% 47.3% 43.4% 45.2% 57.7%
EBITDA margin 87.2% 93.1% 77.9% 69.4% 53.7% 83.2% 72.1% 67.2% 69.0% 81.2%
Net margin 45.6% 50.7% 41.7% 31.0% −31.8% 18.6% 26.8% 24.5% 20.9% 38.3%
FCF margin 17.5% 0.1% 46.4% −9.4% 6.4% 47.1% 6.0% 25.2% 18.5% 37.5%
Returns
Return on capital 7.4% 6.8% 6.1% 5.1% 0.8% 5.3% 6.0% 5.8% 6.0% 8.0%
Return on equity 10.6% 10.3% 9.2% 6.9% −4.7% 3.8% 6.8% 6.9% 6.1% 11.8%
Return on assets 5.0% 4.8% 4.3% 3.2% −2.0% 1.6% 3.1% 3.0% 2.6% 4.9%
Growth
Revenue growth 17.2% 5.1% 23.5% 1.9% −36.4% 28.2% 23.8% 7.2% −1.1% 2.9%
Net income growth 15.7% 16.9% 1.5% −24.3% −165.1% — 78.7% −1.8% −15.6% 88.2%
EPS growth 8.2% 3.8% −0.6% −29.1% −188.4% — 103.0% −3.0% −18.8% 105.0%
FCF growth −12.6% −99.2% 41,362.0% −120.6% — 842.7% −84.3% 353.3% −27.3% 108.3%
Share count change 8.8% 12.3% 4.3% 3.3% −1.0% −1.6% 0.4% 0.9% 0.4% 0.7%
Financial health
Net debt / EBITDA 5.7x 6.2x 6.0x 5.7x 12.0x 5.7x 5.7x 5.8x 5.9x 4.9x
Debt / equity 1.1x 1.0x 1.0x 1.0x 1.4x 1.1x 1.1x 1.2x 1.2x 1.3x
Interest coverage 3.3x 2.7x 2.7x 2.1x 0.3x 1.9x 2.4x 2.5x 2.4x 3.1x
Capital allocation
Capex / revenue 44.4% 76.7% 29.3% 76.8% 9.3% 10.6% 61.2% 38.2% 37.8% 21.1%
Stock comp / revenue 2.3% 2.7% 2.4% 2.0% — 2.8% 2.5% 2.5% 2.0% 2.1%
Payouts / FCF 313.1% 44,476.3% 117.7% — 677.2% 48.1% 688.6% 155.3% 225.4% 111.7%
Quality scores
Accruals ratio −1.8% −2.5% −3.5% −3.7% −3.0% −3.3% −4.6% −4.8% −4.4% −2.6%

Source: SEC EDGAR XBRL filings (CIK 0001045450). Data updated October 12, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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