EPR Properties (EPR) opened Q1 2026 with total revenue of US$181.3 million and basic EPS of US$0.74, while trailing twelve month figures show revenue of US$720.2 million and basic EPS of US$3.25 as earnings almost doubled year over year by 98.1%. Over the past year, revenue has moved from US$688.3 million to US$720.2 million and net income shifted from US$121.9 million to US$247.6 million, lifting the reported net profit margin from 17.9% to 34.4% on a trailing basis. Together, the latest quarter and trailing figures point to a company where margins have shifted meaningfully higher, and that context will shape how investors read this earnings print.
See our full analysis for EPR Properties.With the headline numbers on the table, the next step is to set these results against the widely followed stories around EPR to see which narratives hold up and which start to look out of date.
See what the community is saying about EPR Properties
FFO Holds Steady Around US$96 Million
- Funds From Operations for Q1 2026 is not given directly, but the trailing twelve month FFO sits at US$383.8 million, which lines up with recent quarterly FFO figures in the low to high US$90 million range over 2025.
- Consensus narrative leans bullish on experiential assets, and this FFO profile fits that view by showing:
- Quarterly FFO in 2025 between US$92.4 million and US$100.0 million alongside trailing FFO of US$383.8 million, which is consistent with a portfolio that is generating meaningful cash for a REIT focused on rent collection.
- Revenue between US$172.4 million and US$185.1 million per quarter through 2025, suggesting the cash generation that bulls highlight is anchored in a reasonably stable top line rather than a single unusually strong period.
For investors trying to connect these cash flow figures with the longer term story on experiential real estate, it helps to see how the community weighs the trade off between FFO, tenant quality, and cinema exposure.
See what the community is saying about EPR Properties
Net Margin Jumps To 34.4%
- On a trailing basis, net income of US$247.6 million on US$720.2 million of revenue translates to a 34.4% net profit margin, compared with 17.9% on US$121.9 million of net income and US$688.3 million of revenue a year earlier.
- Bulls argue that stronger experiential segments and box office recovery can support healthier profitability, and the margin data interacts with that claim in a few ways:
- Earnings over the last 12 months grew 98.1%, while revenue moved from US$688.3 million to US$720.2 million, which is a much smaller change, so the margin shift is doing a lot of the work for the bullish view.
- Analysts in the consensus narrative expect profit margins to move from 22.2% to 32.5% over several years, and the current 34.4% trailing margin already sits above that future margin assumption, which may lead some bulls to see current profitability as ahead of that path.
With profitability already above the margin levels some forecasts are using, it is worth seeing how bullish investors frame the upside case built around experiential demand and cinema recovery.🐂 EPR Properties Bull Case
Valuation Discount Versus Interest Coverage Risk
- The stock trades at US$57.88 with a trailing P/E of 17.9x, compared with a peer average of 27.2x and industry average of 28.4x, and sits below a DCF fair value of US$125.83, while interest payments over the last 12 months are flagged as not well covered by earnings.
- Bears focus on financing and tenant risks, and the numbers give that cautious view some support alongside pushback:
- The major risk callout is weak interest coverage, plus comments about an unstable dividend record and recent insider selling, which together point to pressure on how comfortably cash flow covers obligations and distributions.
- At the same time, the share price of US$57.88 is below both the DCF fair value of US$125.83 and the allowed analyst consensus price target of US$59.06, so the valuation discount sits next to those balance sheet concerns rather than resolving them.
For anyone weighing whether the discount compensates for the financing and tenant risks that critics highlight, it helps to read how the cautious camp frames those concerns over time.🐻 EPR Properties Bear Case
Next Steps
To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for EPR Properties on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.
The mix of stronger margins, valuation questions, and balance sheet watchpoints leaves plenty for you to weigh. Move quickly, review the figures in context, and then test your own thesis against the 4 key rewards and 3 important warning signs
Explore Alternatives
Despite stronger margins and an earnings jump, EPR still carries weak interest coverage, questions around dividend stability, and concerns tied to financing and tenant risks.
If those pressure points make you cautious, it is worth quickly comparing them with companies screened for sturdier financial footing using the solid balance sheet and fundamentals stocks screener (44 results).
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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