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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 …
58.36% operating margin is above average. ROIC at 7.58%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 3.5%, steady but not accelerating.
Net debt of $3.04B represents 11.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$721M
▲ +3.5% YoY
Net Income (TTM)
$272M
▲ +88.2% YoY
Op. Margin
57.32%
▲ +12.3pp YoY
ROIC
7.62%
▲ +1.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$261M
▲ +108.3% YoY
Op. Cash Flow (TTM)
$435M
▲ +7.1% YoY
Net Debt
$3.06B
Cash & Equiv.
$68M
5Y CAGR: +13.1%
5Y CAGR: +58.9%
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