Epr Properties
eprkc.comWhat Do They Do?
Leases and finances real estate used for theaters, entertainment venues and attractions, for operators serving people seeking leisure and recreation.
10-K for FY2025, filed Feb 26, 2026EPR Properties (“we,” “us,” “our,” “EPR” or the “Company”) was formed on August 22, 1997 as a self-administered Maryland real estate…View ↗
As of December 31, 2025, our total assets were approximately $5.7 billion (after accumulated depreciation of approximately $1.7 billion)…View ↗
As of December 31, 2025, our Experiential portfolio (excluding property under development, undeveloped land inventory and two joint venture…View ↗
The emergence of the "eatertainment" category has inspired an increasing number of successful concepts that appeal to consumers by…View ↗
AttractionsView ↗
How Do They Make Money?
Tenants pay rent under long-term leases, while mortgage borrowers pay interest; lease payments can rise over the term or when specified events occur.
10-K for FY2025, filed Feb 26, 2026As of December 31, 2025, our total assets were approximately $5.7 billion (after accumulated depreciation of approximately $1.7 billion)…View ↗
We believe our management's knowledge and industry relationships have facilitated opportunities for us to acquire, finance and lease…View ↗
The Company leases real estate to its tenants under leases classified as operating leases. The Company's leases generally provide for rent…View ↗
-
10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by reportable segment ↗
$718.4M
-
10-K for FY2025, filed Feb 26, 2026
$718.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Experiential Reportable Operating Segment
Recurring
10-K for FY2025, filed Feb 26, 2026 |
95%
FY2022: 92%
|
Experiential Reportable Operating Segment, FY2025
$680.2M Sources
|
Recurring |
|
Education Reportable Operating Segment
Recurring
|
5.3%
FY2022: 7.3%
|
Education Reportable Operating Segment, FY2025
$37.7M Sources
|
Recurring |
|
Corporate Unallocated
|
0.1%
FY2022: 0.4%
|
Corporate Unallocated, FY2025
$361K Sources
|
Who Are Their Customers?
Operators of leisure and recreation venues, plus early-childhood centers and private schools, rent EPR properties or borrow against them; most single-tenant properties are leased under long-term triple-net arrangements.
10-K for FY2025, filed Feb 26, 2026Our attraction properties are leased to, or we have mortgage notes receivable from, eight different operators. We expect to continue to…View ↗
As of December 31, 2025, our wholly-owned Education real estate portfolio consisted of approximately 1.1 million square feet and was 100%…View ↗
Our investment portfolio includes ownership of and long-term mortgages on Experiential and Education properties. Substantially all of our…View ↗
10-K for FY2025, filed Feb 26, 2026
As of December 31, 2025, our owned theatre properties were leased to 17 different leading theatre operators. A significant portion of our…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 38 cents of every revenue dollar as net income in FY2025 and turned 37 cents into free cash flow.
10-K for FY2025, filed Feb 26, 2026
$414.3MView ↗
10-K for FY2025, filed Feb 26, 2026
$274.9MView ↗
10-K for FY2025, filed Feb 26, 2026
$269.2MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 30, 2026
$67.2MView ↗
- ▼ −11%
- vs $75.6M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 30, 2026
Open tableView ↗
-
Jul 29, 2026
Bought attraction properties and raised 2026 financial guidance
The purchase covered seven attraction properties; EPR raised its 2026 per-share earnings and investment-spending forecasts.
Sources
8-K, filed Jul 29, 2026
spending guidance for 2026 to a range of $600.0 million to $700.0 million from a range of $500.0 million to $600.0 million and confirming…View ↗
Growing. Revenue grew 35% in 4 years, from $531.7M in FY2021 to $718.4M in FY2025, about 8% a year.
Loading...
