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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and FORUM ENERGY TECHNOLOGIES, INC. (FET). Click either name above to swap in a different company.
FORUM ENERGY TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($208.7M vs $158.8M, roughly 1.3× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 2.2%, a 35.6% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs 3.2%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs 0.8%).
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.
Forum Energy Technologies is an American oilfield products company that provides products and services to the oil and gas, and renewable industries worldwide.
EPRT vs FET — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $208.7M |
| Net Profit | $60.0M | $4.5M |
| Gross Margin | — | 29.2% |
| Operating Margin | 56.5% | 5.3% |
| Net Margin | 37.8% | 2.2% |
| Revenue YoY | 22.8% | 3.2% |
| Net Profit YoY | 6.5% | 300.4% |
| EPS (diluted) | $0.28 | $0.39 |
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 | $208.7M | ||
| Q4 25 | $149.9M | $202.2M | ||
| Q3 25 | $144.9M | $196.2M | ||
| Q2 25 | $137.1M | $199.8M | ||
| Q1 25 | $129.4M | $193.3M | ||
| Q4 24 | $119.7M | $201.0M | ||
| Q3 24 | $117.1M | $207.8M | ||
| Q2 24 | $109.3M | $205.2M |
| Q1 26 | $60.0M | $4.5M | ||
| Q4 25 | $68.1M | $2.1M | ||
| Q3 25 | $65.6M | $-20.6M | ||
| Q2 25 | $63.2M | $7.7M | ||
| Q1 25 | $56.1M | $1.1M | ||
| Q4 24 | $55.4M | $-103.5M | ||
| Q3 24 | $49.1M | $-14.8M | ||
| Q2 24 | $51.5M | $-6.7M |
| Q1 26 | — | 29.2% | ||
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 20.5% | ||
| Q2 25 | — | 29.7% | ||
| Q1 25 | — | 30.2% | ||
| Q4 24 | — | 31.1% | ||
| Q3 24 | — | 31.6% | ||
| Q2 24 | — | 30.7% |
| Q1 26 | 56.5% | 5.3% | ||
| Q4 25 | 65.9% | 6.3% | ||
| Q3 25 | 64.7% | -3.1% | ||
| Q2 25 | 64.1% | 7.4% | ||
| Q1 25 | 61.6% | 4.6% | ||
| Q4 24 | 66.1% | -53.1% | ||
| Q3 24 | 59.7% | 4.3% | ||
| Q2 24 | 61.1% | 3.9% |
| Q1 26 | 37.8% | 2.2% | ||
| Q4 25 | 45.4% | 1.0% | ||
| Q3 25 | 45.3% | -10.5% | ||
| Q2 25 | 46.1% | 3.9% | ||
| Q1 25 | 43.4% | 0.6% | ||
| Q4 24 | 46.3% | -51.5% | ||
| Q3 24 | 42.0% | -7.1% | ||
| Q2 24 | 47.1% | -3.3% |
| Q1 26 | $0.28 | $0.39 | ||
| Q4 25 | $0.34 | $0.25 | ||
| Q3 25 | $0.33 | $-1.76 | ||
| Q2 25 | $0.32 | $0.61 | ||
| Q1 25 | $0.29 | $0.09 | ||
| Q4 24 | $0.31 | $-8.41 | ||
| Q3 24 | $0.27 | $-1.20 | ||
| Q2 24 | $0.29 | $-0.54 |
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 | $37.5M |
| Total DebtLower is stronger | — | $153.7M |
| Stockholders' EquityBook value | $4.4B | $280.7M |
| Total Assets | $7.2B | $763.1M |
| Debt / EquityLower = less leverage | — | 0.55× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | $37.5M | ||
| Q4 25 | $60.2M | $34.7M | ||
| Q3 25 | $23.8M | $31.7M | ||
| Q2 25 | $20.8M | $39.0M | ||
| Q1 25 | $47.0M | $31.1M | ||
| Q4 24 | $40.7M | $44.7M | ||
| Q3 24 | $32.7M | $33.3M | ||
| Q2 24 | $23.6M | $31.8M |
| Q1 26 | — | $153.7M | ||
| Q4 25 | $2.5B | $135.9M | ||
| Q3 25 | $2.6B | $140.0M | ||
| Q2 25 | $2.3B | $159.3M | ||
| Q1 25 | $2.1B | $171.4M | ||
| Q4 24 | $2.1B | $188.4M | ||
| Q3 24 | $2.2B | $231.5M | ||
| Q2 24 | $1.9B | $252.9M |
| Q1 26 | $4.4B | $280.7M | ||
| Q4 25 | $4.2B | $291.1M | ||
| Q3 25 | $3.8B | $297.3M | ||
| Q2 25 | $3.8B | $334.2M | ||
| Q1 25 | $3.8B | $320.0M | ||
| Q4 24 | $3.6B | $319.9M | ||
| Q3 24 | $3.2B | $443.5M | ||
| Q2 24 | $3.2B | $442.0M |
| Q1 26 | $7.2B | $763.1M | ||
| Q4 25 | $6.9B | $752.5M | ||
| Q3 25 | $6.6B | $770.1M | ||
| Q2 25 | $6.3B | $810.1M | ||
| Q1 25 | $6.1B | $790.1M | ||
| Q4 24 | $5.8B | $816.0M | ||
| Q3 24 | $5.5B | $973.7M | ||
| Q2 24 | $5.3B | $976.8M |
| Q1 26 | — | 0.55× | ||
| Q4 25 | 0.60× | 0.47× | ||
| Q3 25 | 0.69× | 0.47× | ||
| Q2 25 | 0.61× | 0.48× | ||
| Q1 25 | 0.56× | 0.54× | ||
| Q4 24 | 0.60× | 0.59× | ||
| Q3 24 | 0.69× | 0.52× | ||
| Q2 24 | 0.59× | 0.57× |
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 | — | $1.6M |
| Free Cash FlowOCF − Capex | — | $1.4M |
| FCF MarginFCF / Revenue | — | 0.7% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 0.36× |
| TTM Free Cash FlowTrailing 4 quarters | — | $58.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.6M | ||
| Q4 25 | $381.1M | $22.4M | ||
| Q3 25 | $99.0M | $22.9M | ||
| Q2 25 | $99.8M | $15.8M | ||
| Q1 25 | $77.2M | $9.3M | ||
| Q4 24 | $308.5M | $38.5M | ||
| Q3 24 | $73.5M | $25.6M | ||
| Q2 24 | $81.1M | $23.1M |
| Q1 26 | — | $1.4M | ||
| Q4 25 | — | $20.9M | ||
| Q3 25 | — | $21.5M | ||
| Q2 25 | — | $14.8M | ||
| Q1 25 | — | $7.2M | ||
| Q4 24 | — | $36.1M | ||
| Q3 24 | — | $24.3M | ||
| Q2 24 | — | $21.6M |
| Q1 26 | — | 0.7% | ||
| Q4 25 | — | 10.3% | ||
| Q3 25 | — | 10.9% | ||
| Q2 25 | — | 7.4% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | — | 18.0% | ||
| Q3 24 | — | 11.7% | ||
| Q2 24 | — | 10.5% |
| Q1 26 | — | 0.1% | ||
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.7% |
| Q1 26 | — | 0.36× | ||
| Q4 25 | 5.60× | 10.83× | ||
| Q3 25 | 1.51× | — | ||
| Q2 25 | 1.58× | 2.05× | ||
| Q1 25 | 1.38× | 8.31× | ||
| 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% |
FET
| Drilling and Completions | $126.7M | 61% |
| Downhole | $50.6M | 24% |
| Production Equipment | $18.8M | 9% |
| Valve Solutions | $12.8M | 6% |
