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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT). Click either name above to swap in a different company.
ESSENTIAL PROPERTIES REALTY TRUST, INC. is the larger business by last-quarter revenue ($158.8M vs $132.7M, roughly 1.2× Emerald Holding, Inc.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs -22.8%, a 60.5% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 22.8%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
Essential Properties Realty Trust is a publicly traded real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of single-tenant net-leased commercial properties across the United States. Its assets primarily cover essential service-oriented sectors including casual dining, automotive services, medical clinics, early childhood education centers and light industrial facilities, with tenants mostly holding robust long-term operating track records.
EEX vs EPRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $158.8M |
| Net Profit | $-30.2M | $60.0M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | 56.5% |
| Net Margin | -22.8% | 37.8% |
| Revenue YoY | 24.3% | 22.8% |
| Net Profit YoY | -692.2% | 6.5% |
| EPS (diluted) | $-0.15 | $0.28 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $158.8M | ||
| Q4 25 | $132.7M | $149.9M | ||
| Q3 25 | $77.5M | $144.9M | ||
| Q2 25 | $105.5M | $137.1M | ||
| Q1 25 | $147.7M | $129.4M | ||
| Q4 24 | $106.8M | $119.7M | ||
| Q3 24 | $72.6M | $117.1M | ||
| Q2 24 | $86.0M | $109.3M |
| Q1 26 | — | $60.0M | ||
| Q4 25 | $-30.2M | $68.1M | ||
| Q3 25 | $-14.4M | $65.6M | ||
| Q2 25 | $-1.4M | $63.2M | ||
| Q1 25 | $15.3M | $56.1M | ||
| Q4 24 | $5.1M | $55.4M | ||
| Q3 24 | $-11.1M | $49.1M | ||
| Q2 24 | $-2.8M | $51.5M |
| Q1 26 | — | 56.5% | ||
| Q4 25 | -11.8% | 65.9% | ||
| Q3 25 | -10.1% | 64.7% | ||
| Q2 25 | 9.7% | 64.1% | ||
| Q1 25 | 24.2% | 61.6% | ||
| Q4 24 | 19.5% | 66.1% | ||
| Q3 24 | -6.5% | 59.7% | ||
| Q2 24 | 7.4% | 61.1% |
| Q1 26 | — | 37.8% | ||
| Q4 25 | -22.8% | 45.4% | ||
| Q3 25 | -18.6% | 45.3% | ||
| Q2 25 | -1.3% | 46.1% | ||
| Q1 25 | 10.4% | 43.4% | ||
| Q4 24 | 4.8% | 46.3% | ||
| Q3 24 | -15.3% | 42.0% | ||
| Q2 24 | -3.3% | 47.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | $-0.15 | $0.34 | ||
| Q3 25 | $-0.07 | $0.33 | ||
| Q2 25 | $-0.01 | $0.32 | ||
| Q1 25 | $0.08 | $0.29 | ||
| Q4 24 | $0.01 | $0.31 | ||
| Q3 24 | $-0.05 | $0.27 | ||
| Q2 24 | $-0.03 | $0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $100.9M | $15.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $338.8M | $4.4B |
| Total Assets | $1.2B | $7.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $15.2M | ||
| Q4 25 | $100.9M | $60.2M | ||
| Q3 25 | $95.4M | $23.8M | ||
| Q2 25 | $156.4M | $20.8M | ||
| Q1 25 | $276.8M | $47.0M | ||
| Q4 24 | $194.8M | $40.7M | ||
| Q3 24 | $188.9M | $32.7M | ||
| Q2 24 | $193.2M | $23.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $338.8M | $4.2B | ||
| Q3 25 | $369.5M | $3.8B | ||
| Q2 25 | $389.4M | $3.8B | ||
| Q1 25 | $392.1M | $3.8B | ||
| Q4 24 | $385.9M | $3.6B | ||
| Q3 24 | $391.1M | $3.2B | ||
| Q2 24 | $407.6M | $3.2B |
| Q1 26 | — | $7.2B | ||
| Q4 25 | $1.2B | $6.9B | ||
| Q3 25 | $1.2B | $6.6B | ||
| Q2 25 | $1.2B | $6.3B | ||
| Q1 25 | $1.2B | $6.1B | ||
| Q4 24 | $1.0B | $5.8B | ||
| Q3 24 | $1.1B | $5.5B | ||
| Q2 24 | $1.1B | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.59× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $12.3M | — |
| Free Cash FlowOCF − Capex | $11.7M | — |
| FCF MarginFCF / Revenue | 8.8% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $12.3M | $381.1M | ||
| Q3 25 | $1.8M | $99.0M | ||
| Q2 25 | $15.9M | $99.8M | ||
| Q1 25 | $12.6M | $77.2M | ||
| Q4 24 | $20.6M | $308.5M | ||
| Q3 24 | $9.1M | $73.5M | ||
| Q2 24 | $9.8M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $11.7M | — | ||
| Q3 25 | $1.5M | — | ||
| Q2 25 | $15.8M | — | ||
| Q1 25 | $12.4M | — | ||
| Q4 24 | $19.9M | — | ||
| Q3 24 | $9.0M | — | ||
| Q2 24 | $9.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 8.8% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 8.4% | — | ||
| Q4 24 | 18.6% | — | ||
| Q3 24 | 12.4% | — | ||
| Q2 24 | 11.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.60× | ||
| Q3 25 | — | 1.51× | ||
| Q2 25 | — | 1.58× | ||
| Q1 25 | 0.82× | 1.38× | ||
| Q4 24 | 4.04× | 5.57× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | — | 1.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
EPRT
| Rental revenue 1,2 | $149.4M | 94% |
| Other | $8.6M | 5% |
| Other revenue | $779.0K | 0% |
