EPR Properties vs Innovative Industrial Properties
EPR Properties is the larger business, with $718m of revenue in fiscal 2025 against $266m for Innovative Industrial Properties (2.7 times as much). EPR Properties grew faster (2.9% against -13.8%). Innovative Industrial Properties kept more of each dollar of sales as profit: a net margin of 44.5% against 38.3%. Innovative Industrial Properties carries less debt relative to equity (21.3% against 125.8%).
| Latest fiscal year | EPR PropertiesEPR, 2025 | Innovative Industrial PropertiesIIPR, 2025 |
|---|---|---|
| Revenue | $718m | $266m |
| Revenue growth | 2.9% | -13.8% |
| Net income | $275m | $118m |
| Operating margin | 57.7% | 46.7% |
| Net margin | 38.3% | 44.5% |
| Return on equity | 11.8% | 6.2% |
| Free cash flow | $269m | $198m |
| Cash | $90.6m | $47.6m |
| Total debt | $2.93bn | $394m |
| Debt to equity | 125.8% | 21.3% |
| Dividend per share | $3.52 | — |
| Dividend yield | 6.5% | 14.4% |
| Share buybacks | $9.9m | $20.1m |
| Employees | 54 | 23 |
| Market value | $4.57bn | $1.52bn |
| Price vs our value range | — | Below our value range |
| Moat score | 69 (Moderate) | 64 (Moderate) |
| Insider trades, 12 months | 0 buys, 20 sales | 6 buys, 1 sales |