WallStSmart

Agree Realty Corporation (ADC)vsEssential Properties Realty Trust Inc (EPRT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Agree Realty Corporation generates 27% more annual revenue ($779.62M vs $615.49M). EPRT leads profitability with a 43.5% profit margin vs 28.8%. EPRT trades at a lower P/E of 22.9x. ADC earns a higher WallStSmart Score of 64/100 (C+).

ADC

Buy

64

out of 100

Grade: C+

Growth: 6.7Profit: 7.0Value: 8.0Quality: 4.0
Piotroski: 3/9Altman Z: 1.16

EPRT

Buy

58

out of 100

Grade: C

Growth: 8.0Profit: 7.5Value: 6.3Quality: 6.0
Piotroski: 3/9Altman Z: 1.28
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ADCUndervalued (+79.3%)

Margin of Safety

+79.3%

Fair Value

$370.90

Current Price

$71.23

$299.67 discount

UndervaluedFair: $370.90Overvalued
EPRTUndervalued (+28.7%)

Margin of Safety

+28.7%

Fair Value

$44.25

Current Price

$28.79

$15.46 discount

UndervaluedFair: $44.25Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ADC5 strengths · Avg: 9.4/10
PEG RatioValuation
0.1310/10

Growing faster than its price suggests

Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Operating MarginProfitability
48.1%10/10

Strong operational efficiency at 48.1%

Profit MarginProfitability
28.8%9/10

Keeps 29 of every $100 in revenue as profit

Revenue GrowthGrowth
16.8%8/10

16.8% revenue growth

EPRT4 strengths · Avg: 9.5/10
Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Profit MarginProfitability
43.5%10/10

Keeps 44 of every $100 in revenue as profit

Operating MarginProfitability
62.5%10/10

Strong operational efficiency at 62.5%

Revenue GrowthGrowth
18.1%8/10

18.1% revenue growth

Areas to Watch

ADC4 concerns · Avg: 3.5/10
P/E RatioValuation
39.1x4/10

Premium valuation, high expectations priced in

EPS GrowthGrowth
2.1%4/10

2.1% earnings growth

Return on EquityProfitability
3.5%3/10

ROE of 3.5% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

EPRT4 concerns · Avg: 2.5/10
Return on EquityProfitability
5.8%3/10

ROE of 5.8% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Free Cash FlowQuality
$-200.80M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
1.282/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : ADC

The strongest argument for ADC centers on PEG Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 28.8% and operating margin at 48.1%. Revenue growth of 16.8% demonstrates continued momentum.

Bull Case : EPRT

The strongest argument for EPRT centers on Price/Book, Profit Margin, Operating Margin. Profitability is solid with margins at 43.5% and operating margin at 62.5%. Revenue growth of 18.1% demonstrates continued momentum.

Bear Case : ADC

The primary concerns for ADC are P/E Ratio, EPS Growth, Return on Equity.

Bear Case : EPRT

The primary concerns for EPRT are Return on Equity, Piotroski F-Score, Free Cash Flow.

Key Dynamics to Monitor

EPRT carries more volatility with a beta of 0.87 — expect wider price swings.

EPRT is growing revenue faster at 18.1% — sustainability is the question.

EPRT generates stronger free cash flow (-201M), providing more financial flexibility.

Monitor REIT - RETAIL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ADC scores higher overall (64/100 vs 58/100), backed by strong 28.8% margins and 16.8% revenue growth. EPRT offers better value entry with a 28.7% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Agree Realty Corporation

REAL ESTATE · REIT - RETAIL · USA

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of net leased properties to industry leading retail tenants.

Essential Properties Realty Trust Inc

REAL ESTATE · REIT - RETAIL · USA

Essential Properties Realty Trust, Inc., a real estate company, acquires, owns and manages single-tenant properties in the United States. The company is headquartered in Princeton, New Jersey.

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