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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and iRhythm Holdings, Inc. (IRTC). Click either name above to swap in a different company.
iRhythm Holdings, Inc. is the larger business by last-quarter revenue ($208.9M vs $158.8M, roughly 1.3× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 2.7%, a 35.1% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 22.8%). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% 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.
iRhythm Holdings is a digital healthcare company focused on cardiac care, developing and commercializing wearable ambulatory heart monitoring devices paired with AI-powered analytical tools. It primarily serves healthcare providers and patients across the United States, helping to detect undiagnosed arrhythmias such as atrial fibrillation through convenient long-term heart rhythm tracking that delivers actionable clinical insights.
EPRT vs IRTC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $208.9M |
| Net Profit | $60.0M | $5.6M |
| Gross Margin | — | 70.9% |
| Operating Margin | 56.5% | 1.1% |
| Net Margin | 37.8% | 2.7% |
| Revenue YoY | 22.8% | 27.1% |
| Net Profit YoY | 6.5% | 518.5% |
| EPS (diluted) | $0.28 | $0.18 |
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 | $208.9M | ||
| Q3 25 | $144.9M | $192.9M | ||
| Q2 25 | $137.1M | $186.7M | ||
| Q1 25 | $129.4M | $158.7M | ||
| Q4 24 | $119.7M | $164.3M | ||
| Q3 24 | $117.1M | $147.5M | ||
| Q2 24 | $109.3M | $148.0M |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | $5.6M | ||
| Q3 25 | $65.6M | $-5.2M | ||
| Q2 25 | $63.2M | $-14.2M | ||
| Q1 25 | $56.1M | $-30.7M | ||
| Q4 24 | $55.4M | $-1.3M | ||
| Q3 24 | $49.1M | $-46.2M | ||
| Q2 24 | $51.5M | $-20.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 70.9% | ||
| Q3 25 | — | 71.1% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | — | 68.8% | ||
| Q4 24 | — | 70.0% | ||
| Q3 24 | — | 68.8% | ||
| Q2 24 | — | 69.9% |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | 1.1% | ||
| Q3 25 | 64.7% | -4.4% | ||
| Q2 25 | 64.1% | -10.0% | ||
| Q1 25 | 61.6% | -20.5% | ||
| Q4 24 | 66.1% | -2.5% | ||
| Q3 24 | 59.7% | -34.1% | ||
| Q2 24 | 61.1% | -15.5% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | 2.7% | ||
| Q3 25 | 45.3% | -2.7% | ||
| Q2 25 | 46.1% | -7.6% | ||
| Q1 25 | 43.4% | -19.3% | ||
| Q4 24 | 46.3% | -0.8% | ||
| Q3 24 | 42.0% | -31.3% | ||
| Q2 24 | 47.1% | -13.6% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $0.18 | ||
| Q3 25 | $0.33 | $-0.16 | ||
| Q2 25 | $0.32 | $-0.44 | ||
| Q1 25 | $0.29 | $-0.97 | ||
| Q4 24 | $0.31 | $-0.03 | ||
| Q3 24 | $0.27 | $-1.48 | ||
| Q2 24 | $0.29 | $-0.65 |
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 | $583.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.4B | $152.7M |
| Total Assets | $7.2B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $583.8M | ||
| Q3 25 | $23.8M | $565.2M | ||
| Q2 25 | $20.8M | $545.5M | ||
| Q1 25 | $47.0M | $520.6M | ||
| Q4 24 | $40.7M | $535.6M | ||
| Q3 24 | $32.7M | $522.0M | ||
| Q2 24 | $23.6M | $561.5M |
| 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 | $152.7M | ||
| Q3 25 | $3.8B | $121.9M | ||
| Q2 25 | $3.8B | $103.7M | ||
| Q1 25 | $3.8B | $86.7M | ||
| Q4 24 | $3.6B | $90.9M | ||
| Q3 24 | $3.2B | $71.8M | ||
| Q2 24 | $3.2B | $99.2M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $1.0B | ||
| Q3 25 | $6.6B | $995.2M | ||
| Q2 25 | $6.3B | $964.0M | ||
| Q1 25 | $6.1B | $926.1M | ||
| Q4 24 | $5.8B | $931.4M | ||
| Q3 24 | $5.5B | $909.7M | ||
| Q2 24 | $5.3B | $919.2M |
| 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 | — | $26.2M |
| Free Cash FlowOCF − Capex | — | $14.5M |
| FCF MarginFCF / Revenue | — | 6.9% |
| Capex IntensityCapex / Revenue | — | 5.6% |
| Cash ConversionOCF / Net Profit | — | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | — | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $381.1M | $26.2M | ||
| Q3 25 | $99.0M | $34.9M | ||
| Q2 25 | $99.8M | $27.7M | ||
| Q1 25 | $77.2M | $-7.9M | ||
| Q4 24 | $308.5M | $19.2M | ||
| Q3 24 | $73.5M | $24.3M | ||
| Q2 24 | $81.1M | $11.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $14.5M | ||
| Q3 25 | — | $20.1M | ||
| Q2 25 | — | $17.3M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $12.4M | ||
| Q3 24 | — | $15.5M | ||
| Q2 24 | — | $3.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | -10.9% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 2.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.6% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | 4.2% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 5.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | 4.70× | ||
| 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% |
IRTC
| Commercial Payors | $111.7M | 53% |
| Centers For Medicare And Medicaid | $49.2M | 24% |
| Healthcare Institutions | $34.3M | 16% |
| Non Contracted Third Party Payors | $13.7M | 7% |
