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Side-by-side financial comparison of ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) and Vericel Corp (VCEL). 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 $92.9M, roughly 1.7× Vericel Corp). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 25.0%, a 12.7% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 22.8%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 20.6%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
EPRT vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $158.8M | $92.9M |
| Net Profit | $60.0M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 56.5% | 24.1% |
| Net Margin | 37.8% | 25.0% |
| Revenue YoY | 22.8% | 23.3% |
| Net Profit YoY | 6.5% | 17.3% |
| EPS (diluted) | $0.28 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $144.9M | $67.5M | ||
| Q2 25 | $137.1M | $63.2M | ||
| Q1 25 | $129.4M | $52.6M | ||
| Q4 24 | $119.7M | $75.4M | ||
| Q3 24 | $117.1M | $57.9M | ||
| Q2 24 | $109.3M | $52.7M |
| Q1 26 | $60.0M | — | ||
| Q4 25 | $68.1M | $23.2M | ||
| Q3 25 | $65.6M | $5.1M | ||
| Q2 25 | $63.2M | $-553.0K | ||
| Q1 25 | $56.1M | $-11.2M | ||
| Q4 24 | $55.4M | $19.8M | ||
| Q3 24 | $49.1M | $-901.0K | ||
| Q2 24 | $51.5M | $-4.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% |
| Q1 26 | 56.5% | — | ||
| Q4 25 | 65.9% | 24.1% | ||
| Q3 25 | 64.7% | 5.1% | ||
| Q2 25 | 64.1% | -3.2% | ||
| Q1 25 | 61.6% | -24.3% | ||
| Q4 24 | 66.1% | 24.5% | ||
| Q3 24 | 59.7% | -4.3% | ||
| Q2 24 | 61.1% | -11.5% |
| Q1 26 | 37.8% | — | ||
| Q4 25 | 45.4% | 25.0% | ||
| Q3 25 | 45.3% | 7.5% | ||
| Q2 25 | 46.1% | -0.9% | ||
| Q1 25 | 43.4% | -21.4% | ||
| Q4 24 | 46.3% | 26.3% | ||
| Q3 24 | 42.0% | -1.6% | ||
| Q2 24 | 47.1% | -8.9% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.34 | $0.46 | ||
| Q3 25 | $0.33 | $0.10 | ||
| Q2 25 | $0.32 | $-0.01 | ||
| Q1 25 | $0.29 | $-0.23 | ||
| Q4 24 | $0.31 | $0.40 | ||
| Q3 24 | $0.27 | $-0.02 | ||
| Q2 24 | $0.29 | $-0.10 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.4B | $354.6M |
| Total Assets | $7.2B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.2M | — | ||
| Q4 25 | $60.2M | $137.5M | ||
| Q3 25 | $23.8M | $135.4M | ||
| Q2 25 | $20.8M | $116.9M | ||
| Q1 25 | $47.0M | $112.9M | ||
| Q4 24 | $40.7M | $116.2M | ||
| Q3 24 | $32.7M | $101.7M | ||
| Q2 24 | $23.6M | $102.5M |
| 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 | $354.6M | ||
| Q3 25 | $3.8B | $321.9M | ||
| Q2 25 | $3.8B | $306.8M | ||
| Q1 25 | $3.8B | $295.5M | ||
| Q4 24 | $3.6B | $292.0M | ||
| Q3 24 | $3.2B | $257.5M | ||
| Q2 24 | $3.2B | $243.0M |
| Q1 26 | $7.2B | — | ||
| Q4 25 | $6.9B | $488.0M | ||
| Q3 25 | $6.6B | $453.3M | ||
| Q2 25 | $6.3B | $435.6M | ||
| Q1 25 | $6.1B | $424.6M | ||
| Q4 24 | $5.8B | $432.7M | ||
| Q3 24 | $5.5B | $390.4M | ||
| Q2 24 | $5.3B | $376.8M |
| 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 | — | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $381.1M | $15.0M | ||
| Q3 25 | $99.0M | $22.1M | ||
| Q2 25 | $99.8M | $8.2M | ||
| Q1 25 | $77.2M | $6.6M | ||
| Q4 24 | $308.5M | $22.2M | ||
| Q3 24 | $73.5M | $10.2M | ||
| Q2 24 | $81.1M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 31.8% |
| Q1 26 | — | — | ||
| Q4 25 | 5.60× | 0.65× | ||
| Q3 25 | 1.51× | 4.35× | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 5.57× | 1.12× | ||
| 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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
