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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $158.8M, roughly 1.4× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 9.9%, a 27.9% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs 1.9%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs 4.4%).
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.
Iridium Communications Inc. is a publicly traded American company headquartered in McLean, Virginia, United States. Iridium operates the Iridium satellite constellation, a system of 80 satellites: 66 are active satellites and the remaining fourteen function as in-orbit spares. Iridium Satellites are used for worldwide voice and data communication from handheld satellite phones, satellite messenger communication devices and integrated transceivers, as well as for two-way satellite messaging se...
EPRT vs IRDM — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $219.1M |
| Net Profit | $60.0M | $21.6M |
| Gross Margin | — | — |
| Operating Margin | 56.5% | 23.2% |
| Net Margin | 37.8% | 9.9% |
| Revenue YoY | 22.8% | 1.9% |
| Net Profit YoY | 6.5% | — |
| EPS (diluted) | $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 | $219.1M | ||
| Q4 25 | $149.9M | $212.9M | ||
| Q3 25 | $144.9M | $226.9M | ||
| Q2 25 | $137.1M | $216.9M | ||
| Q1 25 | $129.4M | $214.9M | ||
| Q4 24 | $119.7M | $213.0M | ||
| Q3 24 | $117.1M | $212.8M | ||
| Q2 24 | $109.3M | $201.1M |
| Q1 26 | $60.0M | $21.6M | ||
| Q4 25 | $68.1M | $24.9M | ||
| Q3 25 | $65.6M | $37.1M | ||
| Q2 25 | $63.2M | $22.0M | ||
| Q1 25 | $56.1M | $30.4M | ||
| Q4 24 | $55.4M | $36.3M | ||
| Q3 24 | $49.1M | $24.4M | ||
| Q2 24 | $51.5M | $32.3M |
| Q1 26 | 56.5% | 23.2% | ||
| Q4 25 | 65.9% | 25.9% | ||
| Q3 25 | 64.7% | 30.9% | ||
| Q2 25 | 64.1% | 23.2% | ||
| Q1 25 | 61.6% | 28.1% | ||
| Q4 24 | 66.1% | 24.5% | ||
| Q3 24 | 59.7% | 25.8% | ||
| Q2 24 | 61.1% | 21.7% |
| Q1 26 | 37.8% | 9.9% | ||
| Q4 25 | 45.4% | 11.7% | ||
| Q3 25 | 45.3% | 16.4% | ||
| Q2 25 | 46.1% | 10.1% | ||
| Q1 25 | 43.4% | 14.2% | ||
| Q4 24 | 46.3% | 17.1% | ||
| Q3 24 | 42.0% | 11.5% | ||
| Q2 24 | 47.1% | 16.1% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $0.24 | ||
| Q3 25 | $0.33 | $0.35 | ||
| Q2 25 | $0.32 | $0.20 | ||
| Q1 25 | $0.29 | $0.27 | ||
| Q4 24 | $0.31 | $0.30 | ||
| Q3 24 | $0.27 | $0.21 | ||
| Q2 24 | $0.29 | $0.27 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.4B | — |
| Total Assets | $7.2B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $96.5M | ||
| Q3 25 | $23.8M | $88.5M | ||
| Q2 25 | $20.8M | $79.3M | ||
| Q1 25 | $47.0M | $50.9M | ||
| Q4 24 | $40.7M | $93.5M | ||
| Q3 24 | $32.7M | $159.6M | ||
| Q2 24 | $23.6M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.8B | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.1B | $1.8B | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.2B | $462.6M | ||
| Q3 25 | $3.8B | $450.5M | ||
| Q2 25 | $3.8B | $473.6M | ||
| Q1 25 | $3.8B | $518.4M | ||
| Q4 24 | $3.6B | $576.6M | ||
| Q3 24 | $3.2B | $663.8M | ||
| Q2 24 | $3.2B | $786.7M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $2.5B | ||
| Q3 25 | $6.6B | $2.6B | ||
| Q2 25 | $6.3B | $2.6B | ||
| Q1 25 | $6.1B | $2.6B | ||
| Q4 24 | $5.8B | $2.7B | ||
| Q3 24 | $5.5B | $2.8B | ||
| Q2 24 | $5.3B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.60× | 3.80× | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.60× | 3.05× | ||
| Q3 24 | 0.69× | — | ||
| Q2 24 | 0.59× | — |
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% |
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
