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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and Piedmont Realty Trust, Inc. (PDM). 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 $143.3M, roughly 1.1× Piedmont Realty Trust, Inc.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs -31.4%, a 69.2% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs 0.4%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs 0.0%).
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.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
EPRT vs PDM — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $143.3M |
| Net Profit | $60.0M | $-45.0M |
| Gross Margin | — | — |
| Operating Margin | 56.5% | — |
| Net Margin | 37.8% | -31.4% |
| Revenue YoY | 22.8% | 0.4% |
| Net Profit YoY | 6.5% | -27.9% |
| EPS (diluted) | $0.28 | $-0.10 |
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 | $143.3M | ||
| Q4 25 | $149.9M | $142.9M | ||
| Q3 25 | $144.9M | $139.2M | ||
| Q2 25 | $137.1M | $140.3M | ||
| Q1 25 | $129.4M | $142.7M | ||
| Q4 24 | $119.7M | $143.2M | ||
| Q3 24 | $117.1M | $139.3M | ||
| Q2 24 | $109.3M | $143.3M |
| Q1 26 | $60.0M | $-45.0M | ||
| Q4 25 | $68.1M | $-43.2M | ||
| Q3 25 | $65.6M | $-13.5M | ||
| Q2 25 | $63.2M | $-16.8M | ||
| Q1 25 | $56.1M | $-10.1M | ||
| Q4 24 | $55.4M | $-30.0M | ||
| Q3 24 | $49.1M | $-11.5M | ||
| Q2 24 | $51.5M | $-9.8M |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | — | ||
| Q3 25 | 64.7% | — | ||
| Q2 25 | 64.1% | — | ||
| Q1 25 | 61.6% | — | ||
| Q4 24 | 66.1% | — | ||
| Q3 24 | 59.7% | — | ||
| Q2 24 | 61.1% | — |
| Q1 26 | 37.8% | -31.4% | ||
| Q4 25 | 45.4% | -30.3% | ||
| Q3 25 | 45.3% | -9.7% | ||
| Q2 25 | 46.1% | -12.0% | ||
| Q1 25 | 43.4% | -7.1% | ||
| Q4 24 | 46.3% | -20.9% | ||
| Q3 24 | 42.0% | -8.3% | ||
| Q2 24 | 47.1% | -6.8% |
| Q1 26 | $0.28 | $-0.10 | ||
| Q4 25 | $0.34 | $-0.34 | ||
| Q3 25 | $0.33 | $-0.11 | ||
| Q2 25 | $0.32 | $-0.14 | ||
| Q1 25 | $0.29 | $-0.08 | ||
| Q4 24 | $0.31 | $-0.25 | ||
| Q3 24 | $0.27 | $-0.09 | ||
| Q2 24 | $0.29 | $-0.08 |
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 | $2.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.4B | $1.5B |
| Total Assets | $7.2B | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | $2.3M | ||
| Q4 25 | $60.2M | $731.0K | ||
| Q3 25 | $23.8M | $3.0M | ||
| Q2 25 | $20.8M | $3.3M | ||
| Q1 25 | $47.0M | $2.9M | ||
| Q4 24 | $40.7M | $109.6M | ||
| Q3 24 | $32.7M | $133.6M | ||
| Q2 24 | $23.6M | $138.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.2B | ||
| Q3 25 | $2.6B | $2.2B | ||
| Q2 25 | $2.3B | $2.2B | ||
| Q1 25 | $2.1B | $2.2B | ||
| Q4 24 | $2.1B | $2.2B | ||
| Q3 24 | $2.2B | $2.2B | ||
| Q2 24 | $1.9B | $2.2B |
| Q1 26 | $4.4B | $1.5B | ||
| Q4 25 | $4.2B | $1.5B | ||
| Q3 25 | $3.8B | $1.5B | ||
| Q2 25 | $3.8B | $1.5B | ||
| Q1 25 | $3.8B | $1.6B | ||
| Q4 24 | $3.6B | $1.6B | ||
| Q3 24 | $3.2B | $1.6B | ||
| Q2 24 | $3.2B | $1.7B |
| Q1 26 | $7.2B | $4.0B | ||
| Q4 25 | $6.9B | $4.0B | ||
| Q3 25 | $6.6B | $4.0B | ||
| Q2 25 | $6.3B | $4.0B | ||
| Q1 25 | $6.1B | $4.0B | ||
| Q4 24 | $5.8B | $4.1B | ||
| Q3 24 | $5.5B | $4.1B | ||
| Q2 24 | $5.3B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.60× | 1.49× | ||
| Q3 25 | 0.69× | 1.43× | ||
| Q2 25 | 0.61× | 1.41× | ||
| Q1 25 | 0.56× | 1.40× | ||
| Q4 24 | 0.60× | 1.40× | ||
| Q3 24 | 0.69× | 1.36× | ||
| Q2 24 | 0.59× | 1.34× |
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% |
PDM
Segment breakdown not available.
