Filing Flows

Filing Flows › Real Estate › EPR Properties (EPR)

EPR Properties (EPR) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · EPR Properties (EPR) Q3 2026 earnings results →

Q3 2026 Revenue up 12% year over year to $204M · 49¢ of every $1 of revenue kept as net profit · operating margin 68.2%

EPR Properties made $204M in Q3 2026 (+12% Y/Y): Experiential Reportable Operating Segment $195M, Education Reportable Operating Segment $8.6M, Corporate / Unallocated $391K. Operating margin 68.2%, net earnings $100M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$204M
Year over year+12%
Operating margin68.2%
Net earnings$100M
Operating cash flow$169M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $204.1M in Q3 2026, up 12% year over year and up 4% from the previous quarter. Experiential Reportable Operating Segment was the largest line at 96% of revenue. Experiential Reportable Operating Segment added $21.6M year over year (up 12%), 99% of the total change. Education Reportable Operating Segment declined 2%.

Operating profit was $139.3M, a 68.2% margin (up 14.7 points year over year). Of the extra revenue versus Q3 2025, 191% reached operating profit, above the 54% margin then. Total costs fell 23% while revenue rose 12%. Net earnings were $100.1M, up 50% year over year. The effective tax rate was 0.8%.

Operating cash flow was $169.0M (up 24% year over year), 169% of net earnings. Non-cash charges added back $51.1M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items added $12.9M. Capital expenditures of $104.5M left free cash flow of $64.5M.

Quarterly history

EPR Properties revenue by quarterEPR Properties revenue by quarter$175MQ1 2025$178MQ2 2025$182MQ3 2025$183MQ4 2025$181MQ1 2026$196MQ2 2026$204MQ3 2026
EPR Properties net earnings by quarterEPR Properties net earnings by quarter$65.8MQ1 2025$75.6MQ2 2025$66.6MQ3 2025$66.9MQ4 2025$62.6MQ1 2026$67.2MQ2 2026$100MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 29, 2026$204M+12%68.2%$100M$169M
Q2 202610-QJul 30, 2026$196M+10%54.6%$67.2M$93.2M
Q1 202610-QMay 7, 2026$181M+4%55.5%$62.6M$113M
Q4 202510-KFeb 26, 2026$183M+3%56.8%$66.9M$97.8M
Q3 202510-QOct 30, 2025$182M+1%53.5%$66.6M$136M
Q2 202510-QJul 31, 2025$178M+3%62.5%$75.6M$87.3M
Q1 202510-QMay 8, 2025$175M+5%58.1%$65.8M$99.4M

Charts

EPR Properties: revenue growth, year over year and quarter over quarterEPR Properties: revenue growth, year over year and quarter over quarterY/YQ/Q+5%Q1 2025+3%+2%Q2 2025+1%+2%Q3 2025+3%+0%Q4 2025+4%-1%Q1 2026+10%+8%Q2 2026+12%+4%Q3 2026
Latest (Q3 2026): Y/Y +12%, Q/Q +4%.
EPR Properties: where the cash came from (+) and went (−), TTM to Q3 2026EPR Properties: where the cash came from (+) and went (−), TTM to Q3 2026Capital spending−$691MNet borrowing (+) / repaid (−)$591MOperating cash flow$473MDividends−$301MOther investing−$108MAsset & business sales$102MCash drawn (+) / kept (−)−$27.6MOther financing−$26.3MBuybacks−$13.2MShares issued$904KExchange rates−$573K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
EPR Properties: profit against cash, quarter by quarterEPR Properties: profit against cash, quarter by quarterNet incomeOperating cash flow−$8.4M$92.9MQ4 2024$65.8M$99.4MQ1 2025$75.6M$87.3MQ2 2025$66.6M$136MQ3 2025$66.9M$97.8MQ4 2025$62.6M$113MQ1 2026$67.2M$93.2MQ2 2026$100M$169MQ3 2026
Latest (Q3 2026): Net income $100M, Operating cash flow $169M.
EPR Properties: diluted shares by fiscal yearEPR Properties: diluted shares by fiscal year76MFY202075MFY202175MFY202276MFY202376MFY202476MFY2025
+0.7% since FY2020: more shares outstanding (issuance, stock pay).
EPR Properties: long-term debt falling due (FY2025)EPR Properties: long-term debt falling due (FY2025)$630M2026$450M2027$400M2028$500M2029$550M2030$425MLater
Cash $90.6M, short-term investments —, long-term debt $2.9B at 2025-12-31.
EPR Properties in its industry: growth against margin (213 companies, SIC 6798)EPR Properties in its industry: growth against margin (213 companies, SIC 6798)revenue growth, year over year →↑ operating marginmedian +5%median 23%WELLAMTEQIXPLDIRMDLRWYVTRSPGBSTTRITMOPSALINEHSTVici Properties L.P.VICIHoward Hughes CorpCCIBoston Properties Ltd PartnershipEXRDOCAvalonbay Communities IncCXWAHRSBACCOLDARERHPHHHLAMRRayonier, L.P.Mid-America Apartments, L.P.SUIMAAKIMKimco Realty OP, LLCSTWDOUTEssex Portfolio LPWPCVornado Realty LPGLPIUDRREGELSPEBSVCAPLESWDRRYNDHCBrixmor Operating Partnership LPRLJStore Capital LLCOHIFederal Realty OP LPFRTDRHCubeSmart, L.P.HRCUBEAHTSL Green Operating Partnership, L.P.SLGKilroy Realty, L.P.KRCJANDEIMACCUZMPT Operating Partnership, L.P.MPTNNNSBRAREXRSTAGADCCDPEGPFirst Industrial LPESRTKRGPECOESBAKite Realty Group, L.P.INNCTREIRTEPRTAres Industrial Real Estate Income Trust Inc.SKTZARECBLJBGSHGITBrandywine Operating Partnership, L.P.JLL Income Property Trust, Inc.BNLNHISAFELTCAmerican Assets Trust, L.P.GNLCMRFAATNHPBHRAKRABRDEACLDTLXPBRSPIVTFCPTSMAVinebrook Homes Trust, Inc.Fortress Net Lease REITBFSFBRTUMHALXNTSTFortress Credit Realty Income TrustNXRTCSRNuveen Global Cities REIT, Inc.North Haven Net REITKBSRCottonwood Communities, Inc.CTOSterling Real Estate TrustARIBrookfield Real Estate Income Trust Inc.CLPRXRNSTRWINREPMTNew Mountain Net Lease TrustTRTXJ.P. Morgan Real Estate Income Trust, Inc.ONLCHCTExchangeRight Income FundPSTLCMCTUHTRCFSPCFTR-PAInvesco Real Estate Income Trust Inc.BRTStarwood Credit Real Estate Income TrustWHLRGTJ REIT, Inc.ACRPINEApollo Realty Income Solutions, Inc.NXDTBHMFVRBlackRock Monticello Debt Real Estate Investment TrustLightstone Value Plus REIT I, Inc.Rise Companies CorpSculptor Diversified Real Estate Income Trust, Inc.Lightstone Value Plus REIT II, Inc.Cohen & Steers Income Opportunities REIT, Inc.ACRETCILANDLightstone Value Plus REIT V, Inc.NLCPSACHModiv Industrial, Inc.Fidelity Core Real Estate FundEQT Exeter Real Estate Income Trust, Inc.STSRFPIHighlands REIT, Inc.PRXASITCRreef Property Trust, Inc.LTSVSEVNLightstone Value Plus REIT III, Inc.SGSTFREVSFranklin BSP Real Estate Debt, Inc.BMNMFundrise eREIT, LLCCDR-PBCHMIPrincipal Credit Real Estate Income TrustICR-PANLOPSUNSMKZRGBCSSTLYCPTSQFTSummit Healthcare REIT, IncSELFTPTSGIPRLOANIHTMDRRStratCap Digital Infrastructure REIT, Inc.PWEPR (+12%, 68%)
Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

Loading the interactive chart…

🌏Named in Asian annual reportsinteractive

Loading the interactive chart…

🔄Rotation against the market and its industry (RRG)interactive

Loading the interactive chart…

🔍Earnings qualityinteractive

Loading the interactive chart…

⚖️Fair value by methodinteractive

Loading the interactive chart…

🔭Outlook & guidanceinteractive

Loading the interactive chart…

📈Investments: gains and what it boughtinteractive

Loading the interactive chart…

🏭Its industry’s money flow (input-output)interactive

Loading the interactive chart…

About EPR Properties

EPR Properties (“we,” “us,” “our,” “EPR” or the “Company”) was formed on August 22, 1997 as a self-administered Maryland real estate investment trust (“REIT”), and an initial public offering of our common shares of beneficial interest (“common shares”) was completed on November 18, 1997. Since that time, we have been a leading net lease investor in experiential real estate, venues that create value by facilitating out-of-home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We focus our underwriting of experiential property investments on key industry and property cash flow criteria, as well as the credit metrics of our tenants and customers.

In its own words, from its 10-K, filed Feb 26, 2026.

EPR Properties against its Real Estate Investment Trusts peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +12%. Operating margin: 68.2% against the peers' median 20.6%.

CompanyQuarterRevenueY/YOp. margin
EPR EPR PropertiesQ3 2026$204M+12%68.2%
WELL WelltowerQ3 2026$3.7B+38%9.1%
AMT American TowerQ3 2026$2.8B+2%45.6%
EQIX EquinixQ3 2026$2.6B+11%23.3%
PLD PrologisQ1 2026$2.3B+7%52.7%
IRM Iron MountainQ3 2026$2.0B+14%20.6%
DLR Digital Realty TrustQ3 2026$1.9B+21%15.9%
WY WeyerhaeuserQ3 2026$1.9B+8%5.4%
VTR VentasQ3 2026$1.8B+23%2.9%

Source: EPR Properties 10-Q on SEC EDGAR · CIK 1045450 · Real Estate Investment Trusts

13F: who owns EPR and who is buying

Largest holders of EPR (13F)Largest holders of EPR (13F)BlackRock$595MVanguard Group$541MVanguard Portfolio Management LLC$395MState Street$222MVanguard Capital Management LLC$200MQuantinno Capital Management LP$125MDeutsche Bank Ag\$113MGeode Capital Management, LLC$96.3MNorthern Trust$89.1MGoldman Sachs Group$86.3M
Funds' net buying of EPR by quarter (13F)Funds' net buying of EPR by quarter (13F)$28.9M2024-09−$23.5M2024-12$256M2025-03$104M2025-06$38.9M2025-09−$71.3M2025-12$104M2026-03$53.2M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on EPR

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

Compare EPR with

中文版：EPR Properties（EPR）财报

Español · Français