EPR Properties (EPR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+260.0%

$212.81

vs $59.11 price

Levered DCF

$140.49

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.74

Distress zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	15.12×	27.5×	24.47×	18.58×	47.49×	-18.79×	35.14×	17.84×
P/B	1.63×	1.44×	1.49×	1.12×	1.35×	0.94×	1.8×	1.66×
P/S	5.28×	5.23×	5.53×	4.63×	6.92×	6.09×	8.32×	6.79×
EV / EBITDA	11.8×	14.64×	14.22×	12.41×	15.53×	25.57×	17.87×	15.24×
Gross margin	44.7%	90.8%	91.3%	90.8%	88.9%	85.6%	90.7%	95.6%
Operating margin	52.5%	49.2%	46.4%	50.9%	54.4%	23.7%	48.7%	66.7%
Net margin	38.3%	22.8%	26.2%	28.9%	19.2%	-32.5%	23.7%	38.1%
Current ratio	1.53×	3.76×	3.64×	3.84×	3.89×	11.36×	4.03×	2.45×
Debt / equity	1.35×	1.32×	1.24×	1.2×	1.15×	1.48×	1.11×	1.04×
Interest coverage	2.83×	2.41×	2.51×	2.37×	1.98×	0.62×	2.24×	3.45×
Dividend yield	7.7%	8.3%	7.5%	9.4%	3.3%	7.0%	6.8%	7.2%
Payout ratio	105.7%	191.6%	157.3%	150.7%	119.2%	-130.9%	237.7%	128.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.8%	6.3%	7.1%	6.9%	3.8%	-5.0%	5.1%	9.3%
Return on invested capital	6.6%	5.8%	5.5%	5.5%	4.8%	1.4%	4.9%	7.9%
Return on assets	4.8%	2.6%	3.0%	3.1%	1.7%	-2.0%	2.3%	4.4%
Free cash flow yield	11.1%	11.7%	12.3%	15.1%	5.5%	-2.7%	0.0%	1.9%
Earnings yield	7.2%	4.4%	4.7%	6.2%	2.8%	-5.3%	2.9%	5.6%
Enterprise value	$6.8B	$6.4B	$6.6B	$5.8B	$6.3B	$5.4B	$8.2B	$7.7B
Net debt / EBITDA	5.25×	6.97×	6.38×	6.33×	6.76×	13.77×	6.11×	5.87×
Cash conversion cycle (days)	446	-237	-250	-215	-307	-390	-587	-2,000