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EPR Properties cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$64.5M in Q3 2026 · −$217M over twelve months

Operating cash flow$169M
Capital spending−$104M
Free cash flow+$64.5M
Cash / net income1.7×

Analysis

In Q3 2026, EPR Properties generated $169M of operating cash flow and spent $104M on capital projects, leaving free cash flow of $64.5M. That is $59.3M less than in Q3 2025 ($124M).

Over the twelve months to Sep 30, 2026, operating cash flow was $473M; the largest uses were capital spending ($691M), dividends ($301M), other investing ($108M); besides operations, cash came from net borrowing (+) / repaid (−) ($591M), asset & business sales ($102M); the cash balance rose by $27.6M.

Operating cash flow was $169M against net income of $100M — 1.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$51.1M, gains on disposals −$30.5M, payables +$18.4M.

Free cash flow

EPR Properties: free cash flow by quarterEPR Properties: free cash flow by quarter$72.1MQ4 2024$76.5MQ1 2025$53.2MQ2 2025$124MQ3 2025−$30.1MQ4 2025$76.9MQ1 2026−$329MQ2 2026$64.5MQ3 2026
Operating cash flow less capital spending.
EPR Properties: operating cash flow against capital spendingEPR Properties: operating cash flow against capital spendingOperating cash flowCapital spending$92.9M$20.9MQ4 2024$99.4M$22.9MQ1 2025$87.3M$34.2MQ2 2025$136M$12.6MQ3 2025$97.8M$128MQ4 2025$113M$36.4MQ1 2026$93.2M$422MQ2 2026$169M$104MQ3 2026
Latest (Q3 2026): Operating cash flow $169M, Capital spending $104M.

Capital allocation, year by year

EPR Properties: where the cash came from (up) and went (down), by fiscal yearEPR Properties: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $307MFY2021: Net borrowing −$889MFY2021: Shares issued $460KFY2021: Asset sales $96.1MFY2021: Capital spending −$56.6MFY2021: Buybacks −$2.8MFY2021: Dividends −$118M$404MFY2021FY2022: Operating cash flow $442MFY2022: Shares issued $758KFY2022: Asset sales $11.0MFY2022: Capital spending −$403MFY2022: Buybacks −$4.3MFY2022: Dividends −$266M$453MFY2022FY2023: Operating cash flow $447MFY2023: Shares issued $615KFY2023: Asset sales $57.2MFY2023: Capital spending −$269MFY2023: Buybacks −$3.7MFY2023: Dividends −$272M$505MFY2023FY2024: Operating cash flow $393MFY2024: Net borrowing $38.4MFY2024: Shares issued $816KFY2024: Asset sales $74.4MFY2024: Capital spending −$264MFY2024: Buybacks −$11.4MFY2024: Dividends −$280M$507MFY2024FY2025: Operating cash flow $421MFY2025: Net borrowing $75.0MFY2025: Shares issued $949KFY2025: Asset sales $142MFY2025: Capital spending −$152MFY2025: Buybacks −$9.9MFY2025: Dividends −$291M$639MFY2025
Over these 5 years operating cash flow totalled $2.0B; the largest uses were dividends ($1.2B) and capital spending ($1.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$52.4M
Debt$3.4B
Net debt$3.3B
Due within a year$630M

EPR Properties's operations bring cash in ($473M over twelve months), and it spends more than that on capital projects: a gap of $217M funded from its $52.4M of cash and investments and from borrowing ($3.4B of debt, $630M due within a year). That is a choice to invest, not a cash runway running down.

EPR Properties: debt maturities by year (FY2025)EPR Properties: debt maturities by year (FY2025)$630MYear 1$450MYear 2$400MYear 3$500MYear 4$550MYear 5$425MAfter year 5
Principal due in each year as disclosed in the annual report, against $52.4M of cash and investments now.

Where the cash came from and went

EPR Properties: sources (+) and uses (−) of cash, Q3 2026EPR Properties: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$169MCapital spending−$104MDividends−$77.2MAsset & business sales$68.2MOther investing−$65.2MNet borrowing (+) / repaid (−)$60.4MCash drawn (+) / kept (−)−$36.7MOther financing−$14.2MShares issued$162KExchange rates−$8KBuybacks$1K
EPR Properties: sources (+) and uses (−) of cash, TTM to Q3 2026EPR Properties: sources (+) and uses (−) of cash, 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 profit to cash

EPR Properties: net income to operating cash flow, Q3 2026EPR Properties: net income to operating cash flow, Q3 2026Net income$100MDepreciation & amortization$51.1MStock-based pay$4.9MDeferred taxes$146KGains on disposals−$30.5MReceivables$4.3MPayables$18.4MDeferred revenue$17.3MPrepaid and other assets$1.7MOperating cash flow$169M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$169M−$104M$1K−$77.2M$60.4M$162K−$36.7M$64.5M
Q2 2026$93.2M−$422M—−$77.1M$360M$276K$54.0M−$329M
Q1 2026$113M−$36.4M−$13.1M−$73.5M—$226K$24.1M$76.9M
Q4 2025$97.8M−$128M−$22K−$73.3M$171M$240K−$69.0M−$30.1M
Q3 2025$136M−$12.6M—−$73.3M−$26.0M$245K−$972K$124M
Q2 2025$87.3M−$34.2M—−$73.3M—$232K−$1.8M$53.2M
Q1 2025$99.4M−$22.9M−$9.8M−$70.8M−$70.0M$232K$8.8M$76.5M
Q4 2024$92.9M−$20.9M—−$70.7M$6.0M$227K$2.6M$72.1M

EPR Properties: income statement and cash flow

EPR Properties, Q3 2026: revenue $204M (+12% year over year), operating margin 68.2%. The chart follows the revenue to costs, profit and cash.

EPR Properties: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.