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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and Phreesia, Inc. (PHR). 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 $120.3M, roughly 1.3× Phreesia, Inc.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 3.5%, a 34.2% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs 12.7%).
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.
Phreesia, Inc. is a software as a service company that offers healthcare organizations a set of applications to automate and manage patient intake.
EPRT vs PHR — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $120.3M |
| Net Profit | $60.0M | $4.3M |
| Gross Margin | — | — |
| Operating Margin | 56.5% | 3.1% |
| Net Margin | 37.8% | 3.5% |
| Revenue YoY | 22.8% | 12.7% |
| Net Profit YoY | 6.5% | 129.7% |
| EPS (diluted) | $0.28 | $0.07 |
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 | $120.3M | ||
| Q3 25 | $144.9M | $117.3M | ||
| Q2 25 | $137.1M | $115.9M | ||
| Q1 25 | $129.4M | — | ||
| Q4 24 | $119.7M | — | ||
| Q3 24 | $117.1M | — | ||
| Q2 24 | $109.3M | — |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | $4.3M | ||
| Q3 25 | $65.6M | $654.0K | ||
| Q2 25 | $63.2M | $-3.9M | ||
| Q1 25 | $56.1M | — | ||
| Q4 24 | $55.4M | — | ||
| Q3 24 | $49.1M | — | ||
| Q2 24 | $51.5M | — |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | 3.1% | ||
| Q3 25 | 64.7% | -1.3% | ||
| Q2 25 | 64.1% | -2.8% | ||
| Q1 25 | 61.6% | — | ||
| Q4 24 | 66.1% | — | ||
| Q3 24 | 59.7% | — | ||
| Q2 24 | 61.1% | — |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | 3.5% | ||
| Q3 25 | 45.3% | 0.6% | ||
| Q2 25 | 46.1% | -3.4% | ||
| Q1 25 | 43.4% | — | ||
| Q4 24 | 46.3% | — | ||
| Q3 24 | 42.0% | — | ||
| Q2 24 | 47.1% | — |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $0.07 | ||
| Q3 25 | $0.33 | $0.01 | ||
| Q2 25 | $0.32 | $-0.07 | ||
| Q1 25 | $0.29 | — | ||
| Q4 24 | $0.31 | — | ||
| Q3 24 | $0.27 | — | ||
| Q2 24 | $0.29 | — |
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 | $106.4M |
| Total DebtLower is stronger | — | $3.4M |
| Stockholders' EquityBook value | $4.4B | $320.3M |
| Total Assets | $7.2B | $423.5M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $106.4M | ||
| Q3 25 | $23.8M | $98.3M | ||
| Q2 25 | $20.8M | $90.9M | ||
| Q1 25 | $47.0M | — | ||
| Q4 24 | $40.7M | — | ||
| Q3 24 | $32.7M | — | ||
| Q2 24 | $23.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $3.4M | ||
| Q3 25 | $2.6B | $4.6M | ||
| Q2 25 | $2.3B | $6.2M | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.2B | $320.3M | ||
| Q3 25 | $3.8B | $298.0M | ||
| Q2 25 | $3.8B | $282.2M | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $423.5M | ||
| Q3 25 | $6.6B | $408.6M | ||
| Q2 25 | $6.3B | $400.4M | ||
| Q1 25 | $6.1B | — | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | $5.5B | — | ||
| Q2 24 | $5.3B | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.60× | 0.01× | ||
| Q3 25 | 0.69× | 0.02× | ||
| Q2 25 | 0.61× | 0.02× | ||
| 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 | — | $15.5M |
| Free Cash FlowOCF − Capex | — | $12.2M |
| FCF MarginFCF / Revenue | — | 10.1% |
| Capex IntensityCapex / Revenue | — | 2.7% |
| Cash ConversionOCF / Net Profit | — | 3.62× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $381.1M | $15.5M | ||
| Q3 25 | $99.0M | $14.8M | ||
| Q2 25 | $99.8M | $14.8M | ||
| Q1 25 | $77.2M | — | ||
| Q4 24 | $308.5M | — | ||
| Q3 24 | $73.5M | — | ||
| Q2 24 | $81.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $12.2M | ||
| Q3 25 | — | $13.1M | ||
| Q2 25 | — | $11.3M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 10.1% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | 3.62× | ||
| Q3 25 | 1.51× | 22.68× | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 5.57× | — | ||
| Q3 24 | 1.50× | — | ||
| Q2 24 | 1.57× | — |
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% |
PHR
| Subscription And Services | $55.5M | 46% |
| Network Solutions | $37.4M | 31% |
| Payment Processing Fees | $27.4M | 23% |
