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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and 4D Molecular Therapeutics, Inc. (FDMT). 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 $85.1M, roughly 1.9× 4D Molecular Therapeutics, Inc.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 22.8%, a 15.0% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 22.8%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 20.6%).
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.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
EPRT vs FDMT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $85.1M |
| Net Profit | $60.0M | $19.4M |
| Gross Margin | — | — |
| Operating Margin | 56.5% | 17.3% |
| Net Margin | 37.8% | 22.8% |
| Revenue YoY | 22.8% | 8508900.0% |
| Net Profit YoY | 6.5% | 139.1% |
| EPS (diluted) | $0.28 | $0.43 |
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 | $149.9M | $85.1M | ||
| Q3 25 | $144.9M | $90.0K | ||
| Q2 25 | $137.1M | $15.0K | ||
| Q1 25 | $129.4M | $14.0K | ||
| Q4 24 | $119.7M | $1.0K | ||
| Q3 24 | $117.1M | $3.0K | ||
| Q2 24 | $109.3M | $5.0K |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | $19.4M | ||
| Q3 25 | $65.6M | $-56.9M | ||
| Q2 25 | $63.2M | $-54.7M | ||
| Q1 25 | $56.1M | $-48.0M | ||
| Q4 24 | $55.4M | — | ||
| Q3 24 | $49.1M | $-43.8M | ||
| Q2 24 | $51.5M | $-35.0M |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | 17.3% | ||
| Q3 25 | 64.7% | -67983.3% | ||
| Q2 25 | 64.1% | -396373.3% | ||
| Q1 25 | 61.6% | -383007.1% | ||
| Q4 24 | 66.1% | — | ||
| Q3 24 | 59.7% | -1704400.0% | ||
| Q2 24 | 61.1% | -849120.0% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | 22.8% | ||
| Q3 25 | 45.3% | -63195.6% | ||
| Q2 25 | 46.1% | -364386.7% | ||
| Q1 25 | 43.4% | -342657.1% | ||
| Q4 24 | 46.3% | — | ||
| Q3 24 | 42.0% | -1461433.3% | ||
| Q2 24 | 47.1% | -699060.0% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $0.43 | ||
| Q3 25 | $0.33 | $-1.01 | ||
| Q2 25 | $0.32 | $-0.98 | ||
| Q1 25 | $0.29 | $-0.86 | ||
| Q4 24 | $0.31 | — | ||
| Q3 24 | $0.27 | $-0.79 | ||
| Q2 24 | $0.29 | $-0.63 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.2M | $402.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.4B | $505.7M |
| Total Assets | $7.2B | $566.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $402.7M | ||
| Q3 25 | $23.8M | $305.1M | ||
| Q2 25 | $20.8M | $293.2M | ||
| Q1 25 | $47.0M | $321.4M | ||
| Q4 24 | $40.7M | $424.9M | ||
| Q3 24 | $32.7M | $501.9M | ||
| Q2 24 | $23.6M | $541.9M |
| 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 | $4.2B | $505.7M | ||
| Q3 25 | $3.8B | $369.0M | ||
| Q2 25 | $3.8B | $420.9M | ||
| Q1 25 | $3.8B | $469.7M | ||
| Q4 24 | $3.6B | $510.6M | ||
| Q3 24 | $3.2B | $552.9M | ||
| Q2 24 | $3.2B | $588.3M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $566.7M | ||
| Q3 25 | $6.6B | $424.0M | ||
| Q2 25 | $6.3B | $473.6M | ||
| Q1 25 | $6.1B | $515.7M | ||
| Q4 24 | $5.8B | $560.4M | ||
| Q3 24 | $5.5B | $604.0M | ||
| Q2 24 | $5.3B | $620.1M |
| 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 | — | $28.6M |
| Free Cash FlowOCF − Capex | — | $28.5M |
| FCF MarginFCF / Revenue | — | 33.5% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $381.1M | $28.6M | ||
| Q3 25 | $99.0M | $-46.5M | ||
| Q2 25 | $99.8M | $-43.4M | ||
| Q1 25 | $77.2M | $-47.8M | ||
| Q4 24 | $308.5M | $-134.6M | ||
| Q3 24 | $73.5M | $-29.4M | ||
| Q2 24 | $81.1M | $-30.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $28.5M | ||
| Q3 25 | — | $-46.6M | ||
| Q2 25 | — | $-43.4M | ||
| Q1 25 | — | $-48.4M | ||
| Q4 24 | — | $-138.4M | ||
| Q3 24 | — | $-31.2M | ||
| Q2 24 | — | $-30.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 33.5% | ||
| Q3 25 | — | -51765.6% | ||
| Q2 25 | — | -289620.0% | ||
| Q1 25 | — | -345635.7% | ||
| Q4 24 | — | -13837100.0% | ||
| Q3 24 | — | -1038966.7% | ||
| Q2 24 | — | -611840.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 101.1% | ||
| Q2 25 | — | 440.0% | ||
| Q1 25 | — | 4507.1% | ||
| Q4 24 | — | 378600.0% | ||
| Q3 24 | — | 59266.7% | ||
| Q2 24 | — | 6980.0% |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | 1.47× | ||
| Q3 25 | 1.51× | — | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 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
EPRT
| Rental revenue 1,2 | $149.4M | 94% |
| Other | $8.6M | 5% |
| Other revenue | $779.0K | 0% |
FDMT
Segment breakdown not available.
