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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
Limbach Holdings, Inc. is the larger business by last-quarter revenue ($186.9M vs $158.8M, roughly 1.2× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 6.6%, a 31.2% gap on every dollar of revenue. On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 22.8%). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% 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.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
EPRT vs LMB — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $186.9M |
| Net Profit | $60.0M | $12.3M |
| Gross Margin | — | 25.7% |
| Operating Margin | 56.5% | 9.4% |
| Net Margin | 37.8% | 6.6% |
| Revenue YoY | 22.8% | 30.1% |
| Net Profit YoY | 6.5% | 25.0% |
| EPS (diluted) | $0.28 | $1.01 |
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 | $186.9M | ||
| Q3 25 | $144.9M | $184.6M | ||
| Q2 25 | $137.1M | $142.2M | ||
| Q1 25 | $129.4M | $133.1M | ||
| Q4 24 | $119.7M | $143.7M | ||
| Q3 24 | $117.1M | $133.9M | ||
| Q2 24 | $109.3M | $122.2M |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | $12.3M | ||
| Q3 25 | $65.6M | $8.8M | ||
| Q2 25 | $63.2M | $7.8M | ||
| Q1 25 | $56.1M | $10.2M | ||
| Q4 24 | $55.4M | $9.8M | ||
| Q3 24 | $49.1M | $7.5M | ||
| Q2 24 | $51.5M | $6.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 25.7% | ||
| Q3 25 | — | 24.2% | ||
| Q2 25 | — | 28.0% | ||
| Q1 25 | — | 27.6% | ||
| Q4 24 | — | 30.3% | ||
| Q3 24 | — | 27.0% | ||
| Q2 24 | — | 27.4% |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | 9.4% | ||
| Q3 25 | 64.7% | 7.2% | ||
| Q2 25 | 64.1% | 7.5% | ||
| Q1 25 | 61.6% | 5.9% | ||
| Q4 24 | 66.1% | 9.1% | ||
| Q3 24 | 59.7% | 8.1% | ||
| Q2 24 | 61.1% | 6.7% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | 6.6% | ||
| Q3 25 | 45.3% | 4.8% | ||
| Q2 25 | 46.1% | 5.5% | ||
| Q1 25 | 43.4% | 7.7% | ||
| Q4 24 | 46.3% | 6.9% | ||
| Q3 24 | 42.0% | 5.6% | ||
| Q2 24 | 47.1% | 4.9% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $1.01 | ||
| Q3 25 | $0.33 | $0.73 | ||
| Q2 25 | $0.32 | $0.64 | ||
| Q1 25 | $0.29 | $0.85 | ||
| Q4 24 | $0.31 | $0.81 | ||
| Q3 24 | $0.27 | $0.62 | ||
| Q2 24 | $0.29 | $0.50 |
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 | $11.3M |
| Total DebtLower is stronger | — | $30.5M |
| Stockholders' EquityBook value | $4.4B | $195.7M |
| Total Assets | $7.2B | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $11.3M | ||
| Q3 25 | $23.8M | $9.8M | ||
| Q2 25 | $20.8M | $38.9M | ||
| Q1 25 | $47.0M | $38.1M | ||
| Q4 24 | $40.7M | $44.9M | ||
| Q3 24 | $32.7M | $51.2M | ||
| Q2 24 | $23.6M | $59.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $30.5M | ||
| Q3 25 | $2.6B | $56.3M | ||
| Q2 25 | $2.3B | $28.4M | ||
| Q1 25 | $2.1B | $23.7M | ||
| Q4 24 | $2.1B | $23.6M | ||
| Q3 24 | $2.2B | $20.5M | ||
| Q2 24 | $1.9B | $19.7M |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.2B | $195.7M | ||
| Q3 25 | $3.8B | $181.6M | ||
| Q2 25 | $3.8B | $170.5M | ||
| Q1 25 | $3.8B | $161.1M | ||
| Q4 24 | $3.6B | $153.5M | ||
| Q3 24 | $3.2B | $142.2M | ||
| Q2 24 | $3.2B | $133.0M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $381.1M | ||
| Q3 25 | $6.6B | $409.1M | ||
| Q2 25 | $6.3B | $343.0M | ||
| Q1 25 | $6.1B | $336.4M | ||
| Q4 24 | $5.8B | $352.1M | ||
| Q3 24 | $5.5B | $324.4M | ||
| Q2 24 | $5.3B | $303.9M |
| Q1 26 | — | — | ||
| Q4 25 | 0.60× | 0.16× | ||
| Q3 25 | 0.69× | 0.31× | ||
| Q2 25 | 0.61× | 0.17× | ||
| Q1 25 | 0.56× | 0.15× | ||
| Q4 24 | 0.60× | 0.15× | ||
| Q3 24 | 0.69× | 0.14× | ||
| Q2 24 | 0.59× | 0.15× |
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 | — | $28.1M |
| Free Cash FlowOCF − Capex | — | $27.9M |
| FCF MarginFCF / Revenue | — | 14.9% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $381.1M | $28.1M | ||
| Q3 25 | $99.0M | $13.3M | ||
| Q2 25 | $99.8M | $2.0M | ||
| Q1 25 | $77.2M | $2.2M | ||
| Q4 24 | $308.5M | $19.3M | ||
| Q3 24 | $73.5M | $4.9M | ||
| Q2 24 | $81.1M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $27.9M | ||
| Q3 25 | — | $12.8M | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $11.0K | ||
| Q4 24 | — | $18.0M | ||
| Q3 24 | — | $4.6M | ||
| Q2 24 | — | $13.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.9% | ||
| Q3 25 | — | 7.0% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | — | 10.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | 2.29× | ||
| Q3 25 | 1.51× | 1.52× | ||
| Q2 25 | 1.58× | 0.26× | ||
| Q1 25 | 1.38× | 0.22× | ||
| Q4 24 | 5.57× | 1.96× | ||
| Q3 24 | 1.50× | 0.66× | ||
| Q2 24 | 1.57× | 2.77× |
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% |
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
