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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and OPAL Fuels Inc. (OPAL). 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 $88.4M, roughly 1.8× OPAL Fuels Inc.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 18.3%, a 19.5% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs 18.7%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs 17.6%).
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.
OPAL Fuels Inc. is a North American energy company focused on producing and distributing low-carbon renewable natural gas (RNG). It captures methane from landfills, dairy operations and other organic waste streams to produce RNG, which is mainly supplied to heavy-duty transportation fleets, commercial logistics operators and public transport entities to help reduce their greenhouse gas emissions.
EPRT vs OPAL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $88.4M |
| Net Profit | $60.0M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 56.5% | 7.5% |
| Net Margin | 37.8% | 18.3% |
| Revenue YoY | 22.8% | 18.7% |
| Net Profit YoY | 6.5% | 401.5% |
| EPS (diluted) | $0.28 | $0.08 |
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 | $88.4M | ||
| Q3 25 | $144.9M | $77.9M | ||
| Q2 25 | $137.1M | $77.4M | ||
| Q1 25 | $129.4M | $83.0M | ||
| Q4 24 | $119.7M | $74.5M | ||
| Q3 24 | $117.1M | $82.6M | ||
| Q2 24 | $109.3M | $69.8M |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | $16.2M | ||
| Q3 25 | $65.6M | $11.4M | ||
| Q2 25 | $63.2M | $7.6M | ||
| Q1 25 | $56.1M | $1.3M | ||
| Q4 24 | $55.4M | $-5.4M | ||
| Q3 24 | $49.1M | $17.1M | ||
| Q2 24 | $51.5M | $1.9M |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | 7.5% | ||
| Q3 25 | 64.7% | 4.6% | ||
| Q2 25 | 64.1% | -1.1% | ||
| Q1 25 | 61.6% | -2.3% | ||
| Q4 24 | 66.1% | -0.5% | ||
| Q3 24 | 59.7% | 14.9% | ||
| Q2 24 | 61.1% | 8.1% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | 18.3% | ||
| Q3 25 | 45.3% | 14.6% | ||
| Q2 25 | 46.1% | 9.8% | ||
| Q1 25 | 43.4% | 1.5% | ||
| Q4 24 | 46.3% | -7.2% | ||
| Q3 24 | 42.0% | 20.7% | ||
| Q2 24 | 47.1% | 2.7% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $0.08 | ||
| Q3 25 | $0.33 | $0.05 | ||
| Q2 25 | $0.32 | $0.03 | ||
| Q1 25 | $0.29 | $-0.01 | ||
| Q4 24 | $0.31 | $-0.05 | ||
| Q3 24 | $0.27 | $0.09 | ||
| Q2 24 | $0.29 | $-0.01 |
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 | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $4.4B | $-12.9M |
| Total Assets | $7.2B | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $24.4M | ||
| Q3 25 | $23.8M | $29.9M | ||
| Q2 25 | $20.8M | $29.3M | ||
| Q1 25 | $47.0M | $40.1M | ||
| Q4 24 | $40.7M | $24.3M | ||
| Q3 24 | $32.7M | $31.0M | ||
| Q2 24 | $23.6M | $27.6M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $361.3M | ||
| Q3 25 | $2.6B | $351.2M | ||
| Q2 25 | $2.3B | $331.6M | ||
| Q1 25 | $2.1B | $307.0M | ||
| Q4 24 | $2.1B | $307.5M | ||
| Q3 24 | $2.2B | $252.9M | ||
| Q2 24 | $1.9B | $233.3M |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.2B | $-12.9M | ||
| Q3 25 | $3.8B | $7.5M | ||
| Q2 25 | $3.8B | $-25.0M | ||
| Q1 25 | $3.8B | $57.1M | ||
| Q4 24 | $3.6B | $-148.4M | ||
| Q3 24 | $3.2B | $-180.1M | ||
| Q2 24 | $3.2B | $-273.0M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $959.5M | ||
| Q3 25 | $6.6B | $916.7M | ||
| Q2 25 | $6.3B | $905.5M | ||
| Q1 25 | $6.1B | $884.9M | ||
| Q4 24 | $5.8B | $881.1M | ||
| Q3 24 | $5.5B | $831.1M | ||
| Q2 24 | $5.3B | $782.3M |
| Q1 26 | — | — | ||
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.69× | 46.95× | ||
| Q2 25 | 0.61× | — | ||
| Q1 25 | 0.56× | 5.38× | ||
| 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 | — | $-3.5M |
| Free Cash FlowOCF − Capex | — | $-13.4M |
| FCF MarginFCF / Revenue | — | -15.1% |
| Capex IntensityCapex / Revenue | — | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $381.1M | $-3.5M | ||
| Q3 25 | $99.0M | $18.2M | ||
| Q2 25 | $99.8M | $-7.9M | ||
| Q1 25 | $77.2M | $29.7M | ||
| Q4 24 | $308.5M | $-532.0K | ||
| Q3 24 | $73.5M | $17.7M | ||
| Q2 24 | $81.1M | $533.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | $-13.4M | ||
| Q3 25 | — | $-9.3M | ||
| Q2 25 | — | $-29.7M | ||
| Q1 25 | — | $18.1M | ||
| Q4 24 | — | $-55.0M | ||
| Q3 24 | — | $-5.4M | ||
| Q2 24 | — | $-22.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | -15.1% | ||
| Q3 25 | — | -11.9% | ||
| Q2 25 | — | -38.4% | ||
| Q1 25 | — | 21.8% | ||
| Q4 24 | — | -73.8% | ||
| Q3 24 | — | -6.5% | ||
| Q2 24 | — | -32.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.1% | ||
| Q3 25 | — | 35.3% | ||
| Q2 25 | — | 28.2% | ||
| Q1 25 | — | 13.9% | ||
| Q4 24 | — | 73.1% | ||
| Q3 24 | — | 27.9% | ||
| Q2 24 | — | 32.9% |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | -0.22× | ||
| Q3 25 | 1.51× | 1.60× | ||
| Q2 25 | 1.58× | -1.04× | ||
| Q1 25 | 1.38× | 23.11× | ||
| Q4 24 | 5.57× | — | ||
| Q3 24 | 1.50× | 1.03× | ||
| Q2 24 | 1.57× | 0.28× |
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% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
