Latest Ratios: P/E Ratio 18.1x · EV/EBITDA 13.9x · ROE 11.8%. (1997–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.5B | $3.8B | $3.4B | $3.7B | $2.8B | $3.6B | $2.5B | $5.4B | $4.8B | $4.7B | $4.6B |
| Enterprise Value | $7.6B | $6.9B | $6.4B | $6.6B | $5.8B | $6.3B | $5.4B | $8.2B | $7.7B | $7.7B | $7.0B |
| P/E Ratio → | 18.05 | 15.21 | 27.68 | 24.59 | 18.58 | 47.49 | — | 35.14 | 17.84 | 19.90 | 22.64 |
| P/S Ratio | 6.31 | 5.31 | 5.26 | 5.56 | 4.64 | 6.92 | 6.09 | 8.32 | 6.79 | 8.10 | 9.24 |
| P/B Ratio | 1.94 | 1.64 | 1.45 | 1.49 | 1.12 | 1.35 | 0.94 | 1.80 | 0.82 | 0.79 | 0.98 |
| P/FCF | 10.76 | 9.07 | 8.58 | 8.20 | 6.61 | 18.33 | — | 2344.95 | 54.08 | 11.93 | 14.88 |
| P/OCF | 10.76 | 9.07 | 8.58 | 8.20 | 6.41 | 11.57 | 37.84 | 12.34 | 9.83 | 11.93 | 14.88 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.55 | 10.02 | 10.05 | 9.46 | 12.25 | 13.19 | 12.64 | 11.05 | 13.28 | 14.24 |
| EV / EBITDA | 13.86 | 12.56 | 13.35 | 13.98 | 12.17 | 14.20 | 20.13 | 12.89 | 11.15 | 17.02 | 17.18 |
| EV / EBIT | 20.09 | 16.71 | 23.62 | 22.35 | 19.12 | 26.10 | 137.49 | 28.46 | 21.82 | 21.55 | 22.09 |
| EV / FCF | — | 16.29 | 16.34 | 14.84 | 13.48 | 32.44 | — | 3561.65 | 87.94 | 19.56 | 22.93 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.7% | 44.7% | 90.8% | 91.3% | 90.8% | 88.9% | 85.6% | 90.7% | 95.6% | 94.5% | 95.4% |
| Operating Margin | 52.5% | 52.5% | 49.2% | 46.4% | 50.9% | 54.4% | 23.7% | 48.7% | 66.7% | 41.8% | 47.3% |
| Net Profit Margin | 38.3% | 38.3% | 22.8% | 26.2% | 28.9% | 19.2% | -32.5% | 23.7% | 38.1% | 45.7% | 45.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.8% | 11.8% | 6.1% | 6.9% | 6.8% | 3.7% | -4.7% | 3.5% | 4.6% | 5.0% | 6.7% |
| ROA | 4.9% | 4.9% | 2.6% | 3.0% | 3.0% | 1.6% | -2.0% | 2.4% | 4.3% | 4.8% | 5.0% |
| ROIC | 5.3% | 5.3% | 4.4% | 4.2% | 4.3% | 3.8% | 1.3% | 3.3% | 4.0% | 2.3% | 3.1% |
| ROCE | 7.2% | 7.2% | 5.8% | 5.5% | 5.5% | 4.5% | 1.5% | 5.2% | 7.9% | 4.5% | 5.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.35 | 1.35 | 1.32 | 1.24 | 1.20 | 1.15 | 1.48 | 1.11 | 0.51 | 0.51 | 0.54 |
| Debt / EBITDA | 5.75 | 5.75 | 6.39 | 6.41 | 6.43 | 6.83 | 14.70 | 5.23 | 4.30 | 6.74 | 6.08 |
| Net Debt / Equity | — | 1.31 | 1.31 | 1.21 | 1.16 | 1.04 | 1.09 | 0.93 | 0.51 | 0.51 | 0.53 |
| Net Debt / EBITDA | 5.57 | 5.57 | 6.34 | 6.25 | 6.20 | 6.18 | 10.84 | 4.40 | 4.29 | 6.64 | 6.03 |
| Debt / FCF | — | 7.23 | 7.76 | 6.63 | 6.87 | 14.12 | — | 1216.69 | 33.86 | 7.64 | 8.05 |
| Interest Coverage | 3.08 | 3.08 | 2.08 | 2.43 | 2.30 | 1.71 | 0.25 | 2.04 | 2.62 | 2.67 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.53 | 1.53 | 3.76 | 3.64 | 3.84 | 3.89 | 11.36 | 4.03 | 2.45 | 5.11 | 4.27 |
| Quick Ratio | 1.53 | 1.53 | 3.76 | 3.64 | 3.84 | 3.89 | 11.36 | 4.03 | 2.47 | 5.11 | 4.27 |
| Cash Ratio | 0.16 | 0.16 | 0.10 | 0.38 | 0.63 | 2.87 | 9.97 | 3.30 | 0.02 | 0.18 | 0.10 |
| Asset Turnover | — | 0.13 | 0.11 | 0.12 | 0.11 | 0.09 | 0.06 | 0.10 | 0.11 | 0.09 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.4% | 7.6% | 8.3% | 7.4% | 9.4% | 3.3% | 7.0% | 6.8% | 7.2% | 6.7% | 5.8% |
| Payout Ratio | 105.7% | 105.7% | 191.6% | 157.3% | 150.7% | 119.2% | — | 237.7% | 128.2% | 118.5% | 118.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.5% | 6.6% | 3.6% | 4.1% | 5.4% | 2.1% | — | 2.8% | 5.6% | 5.0% | 4.4% |
| FCF Yield | 9.3% | 11.0% | 11.7% | 12.2% | 15.1% | 5.5% | — | 0.0% | 1.8% | 8.4% | 6.7% |
| Buyback Yield | 0.2% | 0.3% | 0.3% | 0.1% | 0.2% | 0.1% | 4.6% | 0.2% | 0.2% | 0.1% | 0.1% |
| Total Shareholder Yield | 6.6% | 7.9% | 8.6% | 7.5% | 9.5% | 3.4% | 11.6% | 7.0% | 7.3% | 6.8% | 5.9% |
| Shares Outstanding | — | $76M | $76M | $76M | $75M | $75M | $76M | $77M | $74M | $71M | $63M |
Specialized Asset Liquidity Risk
According to quarterly financial data, EPR's NOI margin experienced a sharp contraction to 41.9% in 2026Q1 from historical levels exceeding 90%, suggesting that property-level cost structures or accounting treatments for specialized experiential assets have become significantly more volatile than in previous periods of portfolio stability.
The dramatic drop in NOI margin warrants close investigation, as it may indicate rising non-reimbursable property expenses or the impact of tenant restructurings on core profitability. Investors should monitor whether this margin compression is a temporary accounting anomaly or a structural shift reflecting the higher operational intensity of the company's evolving experiential asset mix.
Based on reported figures, the FFO payout ratio reached 68.3% in 2026Q1, which, while appearing sustainable, remains subject to significant quarterly fluctuations as evidenced by the 2024Q4 period where earnings volatility nearly compromised the dividend coverage capacity of the REIT's specialized experiential portfolio.
The dividend safety margin appears adequate but remains tethered to the performance of discretionary leisure tenants who are sensitive to broader economic cycles. Analysts should interpret the current payout ratio with caution, as the reliance on non-cash rent adjustments may mask the true cash-generating capacity available for consistent dividend distributions.
As reported in financial statements, the company maintained a debt-to-equity ratio of 1.35 through 2025Q4, yet the sudden shift to zero reported debt in 2026Q1 creates significant ambiguity regarding the current cost of capital and the REIT's actual leverage profile relative to its asset base.
The lack of clarity regarding the current debt position makes it difficult to assess the company's refinancing risk or its ability to fund future acquisitions. Investors should monitor future disclosures to determine if this shift represents a permanent deleveraging event or a temporary reporting discrepancy that obscures the true extent of the company's financial obligations.
The standard P/E ratio is frequently misapplied to EPR, as it fails to account for the heavy non-cash depreciation charges inherent in specialized experiential real estate, which significantly distorts the company's true earnings power compared to more traditional, less capital-intensive industrial or office REIT peers.
Using P/E obscures the REIT's actual cash-generating capacity, as it treats depreciation as a cash expense rather than a non-cash accounting entry. Analysts should instead prioritize P/FFO or P/AFFO to better align valuation with the recurring cash flow generated by the company's triple-net lease portfolio.
Includes 30+ ratios · 29 years · Updated daily
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Quick answers to the most common questions about buying EPR stock.
EPR Properties's current P/E ratio is 18.1x. The historical average is 26.3x. This places it at the 41th percentile of its historical range.
EPR Properties's current EV/EBITDA is 13.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.9x.
EPR Properties's return on equity (ROE) is 11.8%. The historical average is 7.4%.
Based on historical data, EPR Properties is trading at a P/E of 18.1x. This is at the 41th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
EPR Properties's current dividend yield is 6.42% with a payout ratio of 105.7%.
EPR Properties has 44.7% gross margin and 52.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
EPR Properties's Debt/EBITDA ratio is 5.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.