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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and Strategic Education, Inc. (STRA). Click either name above to swap in a different company.
Strategic Education, Inc. is the larger business by last-quarter revenue ($305.9M vs $158.8M, roughly 1.9× ESSENTIAL PROPERTIES REALTY TRUST, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 10.7%, a 27.0% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs 0.8%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% CAGR vs -1.0%).
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.
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
EPRT vs STRA — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $305.9M |
| Net Profit | $60.0M | $32.8M |
| Gross Margin | — | — |
| Operating Margin | 56.5% | 13.4% |
| Net Margin | 37.8% | 10.7% |
| Revenue YoY | 22.8% | 0.8% |
| Net Profit YoY | 6.5% | 10.3% |
| EPS (diluted) | $0.28 | $1.48 |
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 | $305.9M | ||
| Q4 25 | $149.9M | $323.2M | ||
| Q3 25 | $144.9M | $319.9M | ||
| Q2 25 | $137.1M | $321.5M | ||
| Q1 25 | $129.4M | $303.6M | ||
| Q4 24 | $119.7M | $311.5M | ||
| Q3 24 | $117.1M | $306.0M | ||
| Q2 24 | $109.3M | $312.3M |
| Q1 26 | $60.0M | $32.8M | ||
| Q4 25 | $68.1M | $37.9M | ||
| Q3 25 | $65.6M | $26.6M | ||
| Q2 25 | $63.2M | $32.3M | ||
| Q1 25 | $56.1M | $29.7M | ||
| Q4 24 | $55.4M | $25.3M | ||
| Q3 24 | $49.1M | $27.7M | ||
| Q2 24 | $51.5M | $29.9M |
| Q1 26 | 56.5% | 13.4% | ||
| Q4 25 | 65.9% | 16.0% | ||
| Q3 25 | 64.7% | 11.6% | ||
| Q2 25 | 64.1% | 14.2% | ||
| Q1 25 | 61.6% | 13.1% | ||
| Q4 24 | 66.1% | 11.6% | ||
| Q3 24 | 59.7% | 11.9% | ||
| Q2 24 | 61.1% | 13.4% |
| Q1 26 | 37.8% | 10.7% | ||
| Q4 25 | 45.4% | 11.7% | ||
| Q3 25 | 45.3% | 8.3% | ||
| Q2 25 | 46.1% | 10.1% | ||
| Q1 25 | 43.4% | 9.8% | ||
| Q4 24 | 46.3% | 8.1% | ||
| Q3 24 | 42.0% | 9.1% | ||
| Q2 24 | 47.1% | 9.6% |
| Q1 26 | $0.28 | $1.48 | ||
| Q4 25 | $0.34 | $1.65 | ||
| Q3 25 | $0.33 | $1.15 | ||
| Q2 25 | $0.32 | $1.37 | ||
| Q1 25 | $0.29 | $1.24 | ||
| Q4 24 | $0.31 | $1.05 | ||
| Q3 24 | $0.27 | $1.15 | ||
| Q2 24 | $0.29 | $1.24 |
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 | $150.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.4B | $1.6B |
| Total Assets | $7.2B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | $150.3M | ||
| Q4 25 | $60.2M | $148.1M | ||
| Q3 25 | $23.8M | $172.6M | ||
| Q2 25 | $20.8M | $164.9M | ||
| Q1 25 | $47.0M | $182.6M | ||
| Q4 24 | $40.7M | $184.0M | ||
| Q3 24 | $32.7M | $222.1M | ||
| Q2 24 | $23.6M | $256.2M |
| 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 | $1.6B | ||
| Q4 25 | $4.2B | $1.6B | ||
| Q3 25 | $3.8B | $1.7B | ||
| Q2 25 | $3.8B | $1.7B | ||
| Q1 25 | $3.8B | $1.6B | ||
| Q4 24 | $3.6B | $1.7B | ||
| Q3 24 | $3.2B | $1.7B | ||
| Q2 24 | $3.2B | $1.7B |
| Q1 26 | $7.2B | $2.1B | ||
| Q4 25 | $6.9B | $2.0B | ||
| Q3 25 | $6.6B | $2.1B | ||
| Q2 25 | $6.3B | $2.1B | ||
| Q1 25 | $6.1B | $2.1B | ||
| Q4 24 | $5.8B | $2.0B | ||
| Q3 24 | $5.5B | $2.2B | ||
| Q2 24 | $5.3B | $2.2B |
| 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 | — | $87.4M |
| Free Cash FlowOCF − Capex | — | $77.3M |
| FCF MarginFCF / Revenue | — | 25.3% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 2.66× |
| TTM Free Cash FlowTrailing 4 quarters | — | $173.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $87.4M | ||
| Q4 25 | $381.1M | $39.2M | ||
| Q3 25 | $99.0M | $60.1M | ||
| Q2 25 | $99.8M | $31.2M | ||
| Q1 25 | $77.2M | $67.7M | ||
| Q4 24 | $308.5M | $15.9M | ||
| Q3 24 | $73.5M | $51.5M | ||
| Q2 24 | $81.1M | $24.3M |
| Q1 26 | — | $77.3M | ||
| Q4 25 | — | $27.0M | ||
| Q3 25 | — | $49.3M | ||
| Q2 25 | — | $20.4M | ||
| Q1 25 | — | $57.3M | ||
| Q4 24 | — | $4.7M | ||
| Q3 24 | — | $42.1M | ||
| Q2 24 | — | $13.6M |
| Q1 26 | — | 25.3% | ||
| Q4 25 | — | 8.3% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 18.9% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | — | 3.1% | ||
| Q2 24 | — | 3.4% |
| Q1 26 | — | 2.66× | ||
| Q4 25 | 5.60× | 1.03× | ||
| Q3 25 | 1.51× | 2.26× | ||
| Q2 25 | 1.58× | 0.97× | ||
| Q1 25 | 1.38× | 2.27× | ||
| Q4 24 | 5.57× | 0.63× | ||
| Q3 24 | 1.50× | 1.86× | ||
| Q2 24 | 1.57× | 0.81× |
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% |
STRA
| U.S. Higher Education | $212.6M | 69% |
| Australia/New Zealand | $51.8M | 17% |
| Education Technology Services | $41.5M | 14% |
