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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and Mayville Engineering Company, Inc. (MEC). 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 $134.3M, roughly 1.2× Mayville Engineering Company, Inc.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs -3.2%, a 41.0% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs 10.7%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs -8.8%).
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.
Mayville Engineering Company, Inc. is a U.S.-headquartered leading manufacturer of metal components, fabricated assemblies, and custom engineered solutions. It serves OEM clients across agriculture, construction, transportation, defense, and power sports markets, offering end-to-end services from prototyping to high-volume production for North America.
EPRT vs MEC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $134.3M |
| Net Profit | $60.0M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | 56.5% | -4.1% |
| Net Margin | 37.8% | -3.2% |
| Revenue YoY | 22.8% | 10.7% |
| Net Profit YoY | 6.5% | -127.3% |
| EPS (diluted) | $0.28 | $-0.22 |
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 | $134.3M | ||
| Q3 25 | $144.9M | $144.3M | ||
| Q2 25 | $137.1M | $132.3M | ||
| Q1 25 | $129.4M | $135.6M | ||
| Q4 24 | $119.7M | $121.3M | ||
| Q3 24 | $117.1M | $135.4M | ||
| Q2 24 | $109.3M | $163.6M |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | $-4.4M | ||
| Q3 25 | $65.6M | $-2.7M | ||
| Q2 25 | $63.2M | $-1.1M | ||
| Q1 25 | $56.1M | $20.0K | ||
| Q4 24 | $55.4M | $16.0M | ||
| Q3 24 | $49.1M | $3.0M | ||
| Q2 24 | $51.5M | $3.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | 10.3% | ||
| Q1 25 | — | 11.3% | ||
| Q4 24 | — | 8.9% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 13.6% |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | -4.1% | ||
| Q3 25 | 64.7% | 0.0% | ||
| Q2 25 | 64.1% | 0.1% | ||
| Q1 25 | 61.6% | 1.2% | ||
| Q4 24 | 66.1% | 19.0% | ||
| Q3 24 | 59.7% | 4.2% | ||
| Q2 24 | 61.1% | 5.0% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | -3.2% | ||
| Q3 25 | 45.3% | -1.9% | ||
| Q2 25 | 46.1% | -0.8% | ||
| Q1 25 | 43.4% | 0.0% | ||
| Q4 24 | 46.3% | 13.2% | ||
| Q3 24 | 42.0% | 2.2% | ||
| Q2 24 | 47.1% | 2.3% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $-0.22 | ||
| Q3 25 | $0.33 | $-0.13 | ||
| Q2 25 | $0.32 | $-0.05 | ||
| Q1 25 | $0.29 | $0.00 | ||
| Q4 24 | $0.31 | $0.76 | ||
| Q3 24 | $0.27 | $0.14 | ||
| Q2 24 | $0.29 | $0.18 |
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 | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.4B | $240.7M |
| Total Assets | $7.2B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $1.5M | ||
| Q3 25 | $23.8M | $1.2M | ||
| Q2 25 | $20.8M | $206.0K | ||
| Q1 25 | $47.0M | $183.0K | ||
| Q4 24 | $40.7M | $206.0K | ||
| Q3 24 | $32.7M | $178.0K | ||
| Q2 24 | $23.6M | $314.0K |
| 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 | $240.7M | ||
| Q3 25 | $3.8B | $244.8M | ||
| Q2 25 | $3.8B | $246.8M | ||
| Q1 25 | $3.8B | $250.0M | ||
| Q4 24 | $3.6B | $251.8M | ||
| Q3 24 | $3.2B | $238.4M | ||
| Q2 24 | $3.2B | $238.1M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $563.6M | ||
| Q3 25 | $6.6B | $585.6M | ||
| Q2 25 | $6.3B | $433.7M | ||
| Q1 25 | $6.1B | $447.7M | ||
| Q4 24 | $5.8B | $445.6M | ||
| Q3 24 | $5.5B | $466.0M | ||
| Q2 24 | $5.3B | $488.2M |
| 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 | — | $13.4M |
| Free Cash FlowOCF − Capex | — | $10.2M |
| FCF MarginFCF / Revenue | — | 7.6% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $381.1M | $13.4M | ||
| Q3 25 | $99.0M | $1.9M | ||
| Q2 25 | $99.8M | $15.0M | ||
| Q1 25 | $77.2M | $8.3M | ||
| Q4 24 | $308.5M | $38.0M | ||
| Q3 24 | $73.5M | $17.9M | ||
| Q2 24 | $81.1M | $23.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $-1.1M | ||
| Q2 25 | — | $12.5M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | $35.6M | ||
| Q3 24 | — | $15.1M | ||
| Q2 24 | — | $19.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 11.1% | ||
| Q2 24 | — | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.5% |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | — | ||
| Q3 25 | 1.51× | — | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.38× | 416.65× | ||
| Q4 24 | 5.57× | 2.38× | ||
| Q3 24 | 1.50× | 6.03× | ||
| Q2 24 | 1.57× | 6.15× |
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% |
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
