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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and ONTO INNOVATION INC. (ONTO). Click either name above to swap in a different company.
ONTO INNOVATION INC. is the larger business by last-quarter revenue ($218.2M vs $158.8M, roughly 1.4× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 12.9%, a 24.8% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs -13.5%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs 2.6%).
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.
Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc. and Nanometrics Incorporated. It is a provider of process and process control equipment and software for microelectronic manufacturing industries.
EPRT vs ONTO — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $218.2M |
| Net Profit | $60.0M | $28.2M |
| Gross Margin | — | 50.7% |
| Operating Margin | 56.5% | 10.9% |
| Net Margin | 37.8% | 12.9% |
| Revenue YoY | 22.8% | -13.5% |
| Net Profit YoY | 6.5% | -46.8% |
| EPS (diluted) | $0.28 | $0.57 |
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 | — | ||
| Q3 25 | $144.9M | $218.2M | ||
| Q2 25 | $137.1M | $253.6M | ||
| Q1 25 | $129.4M | $266.6M | ||
| Q4 24 | $119.7M | $263.9M | ||
| Q3 24 | $117.1M | $252.2M | ||
| Q2 24 | $109.3M | $242.3M |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | — | ||
| Q3 25 | $65.6M | $28.2M | ||
| Q2 25 | $63.2M | $33.9M | ||
| Q1 25 | $56.1M | $64.1M | ||
| Q4 24 | $55.4M | $48.8M | ||
| Q3 24 | $49.1M | $53.1M | ||
| Q2 24 | $51.5M | $52.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 50.7% | ||
| Q2 25 | — | 48.2% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 50.2% | ||
| Q3 24 | — | 54.1% | ||
| Q2 24 | — | 52.9% |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | — | ||
| Q3 25 | 64.7% | 10.9% | ||
| Q2 25 | 64.1% | 12.7% | ||
| Q1 25 | 61.6% | 23.7% | ||
| Q4 24 | 66.1% | 16.1% | ||
| Q3 24 | 59.7% | 21.0% | ||
| Q2 24 | 61.1% | 20.2% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | — | ||
| Q3 25 | 45.3% | 12.9% | ||
| Q2 25 | 46.1% | 13.4% | ||
| Q1 25 | 43.4% | 24.0% | ||
| Q4 24 | 46.3% | 18.5% | ||
| Q3 24 | 42.0% | 21.0% | ||
| Q2 24 | 47.1% | 21.9% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | — | ||
| Q3 25 | $0.33 | $0.57 | ||
| Q2 25 | $0.32 | $0.69 | ||
| Q1 25 | $0.29 | $1.30 | ||
| Q4 24 | $0.31 | $0.98 | ||
| Q3 24 | $0.27 | $1.07 | ||
| Q2 24 | $0.29 | $1.07 |
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 | $603.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.4B | $2.0B |
| Total Assets | $7.2B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | — | ||
| Q3 25 | $23.8M | $603.1M | ||
| Q2 25 | $20.8M | $217.5M | ||
| Q1 25 | $47.0M | $203.7M | ||
| Q4 24 | $40.7M | $212.9M | ||
| Q3 24 | $32.7M | $188.7M | ||
| Q2 24 | $23.6M | $172.6M |
| 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 | — | ||
| Q3 25 | $3.8B | $2.0B | ||
| Q2 25 | $3.8B | $2.0B | ||
| Q1 25 | $3.8B | $1.9B | ||
| Q4 24 | $3.6B | $1.9B | ||
| Q3 24 | $3.2B | $1.9B | ||
| Q2 24 | $3.2B | $1.8B |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | — | ||
| Q3 25 | $6.6B | $2.2B | ||
| Q2 25 | $6.3B | $2.1B | ||
| Q1 25 | $6.1B | $2.1B | ||
| Q4 24 | $5.8B | $2.1B | ||
| Q3 24 | $5.5B | $2.1B | ||
| Q2 24 | $5.3B | $2.0B |
| 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 | — | $83.4M |
| Free Cash FlowOCF − Capex | — | $82.0M |
| FCF MarginFCF / Revenue | — | 37.6% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | — | 2.95× |
| TTM Free Cash FlowTrailing 4 quarters | — | $261.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $381.1M | — | ||
| Q3 25 | $99.0M | $83.4M | ||
| Q2 25 | $99.8M | $57.9M | ||
| Q1 25 | $77.2M | $92.0M | ||
| Q4 24 | $308.5M | $56.0M | ||
| Q3 24 | $73.5M | $67.2M | ||
| Q2 24 | $81.1M | $65.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $82.0M | ||
| Q2 25 | — | $44.2M | ||
| Q1 25 | — | $83.7M | ||
| Q4 24 | — | $51.4M | ||
| Q3 24 | — | $59.2M | ||
| Q2 24 | — | $53.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | — | 17.4% | ||
| Q1 25 | — | 31.4% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | — | 23.5% | ||
| Q2 24 | — | 21.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 3.2% | ||
| Q2 24 | — | 5.1% |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | — | ||
| Q3 25 | 1.51× | 2.95× | ||
| Q2 25 | 1.58× | 1.71× | ||
| Q1 25 | 1.38× | 1.44× | ||
| Q4 24 | 5.57× | 1.15× | ||
| Q3 24 | 1.50× | 1.27× | ||
| Q2 24 | 1.57× | 1.23× |
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% |
ONTO
| Systems And Software Revenue | $173.8M | 80% |
| Parts Revenue | $23.9M | 11% |
| Service Revenue | $20.5M | 9% |
