MEDICAL PROPERTIES TRUST INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MEDICAL PROPERTIES TRUST INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	541	705	785	854	1,249	1,545	1,543	872	996	972
Cost of revenue			84.2	168	30.1	101	167	110	74.2	90.3
Gross profit			700	686	1,219	1,443	1,375	762	921	882
General and administrative	48.9	58.6	81	96.4	132	146	160	146	134	130
Operating income	342	486
Interest expense	160	177	223	238	329	367	359	411	418	510
Other non-operating income	29.8	-14.7	681	30.1	-36.4	59.6	315	-357	-2,333	-267
Pre-tax income	219	294	1,019	374	463	731	960	-687	-2,364	-237
Income tax	-6.83	2.68	0.93	-2.62	31.1	73.9	55.9	-131	44.1	38.6
Net income to minority interests	0.89	1.45	1.79	1.72	0.82	0.92	1.22	0.38	1.98	1.11
Net income	225	290	1,017	375	431	656	903	-556	-2,410	-277
EBITDA	439	618
EPS, basic	0.86	0.82	2.77	0.87	0.81	1.11	1.50	-0.93	-4.02	-0.46
EPS, diluted	0.86	0.82	2.76	0.87	0.81	1.11	1.50	-0.93	-4.02	-0.46
Shares, basic (weighted)	260	350	365	427	529	589	599	599	600	601
Shares, diluted (weighted)	261	350	366	428	530	590	599	599	600	601
Dividend per share	0.91	0.96	1.00	1.02	1.08	1.12	1.16	0.88	0.46	0.33

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	83.2	171	821	1,462	550	459	236	250	332	541
Lease right-of-use assets				9.87	8.23	7.46
Total assets	6,419	9,020	8,844	14,467	16,829	20,520	19,658	18,305	14,295	15,002
Total liabilities	3,165	5,185	4,283	7,439	9,485	12,074	11,064	10,671	9,461	10,395
Total debt	2,909	4,899	4,037	7,024	8,865	11,283	10,268	10,064	8,848	9,698
Paid-in capital	3,775	4,333	4,443	7,008	7,462	8,564	8,535	8,560	8,585	8,573
Retained earnings	-434	-486	163	83	-71.4	-87.7	116	-972	-3,659	-4,136
Treasury stock	-0.26	-0.78	-0.78	-0.78	-0.78	-0.78
Other comprehensive income	-92.9	-26	-58.2	-62.9	-51.3	-36.7	-59.2	42.5	-94.3	168
Shareholders' equity	3,248	3,821	4,547	7,028	7,339	8,440	8,593	7,632	4,833	4,606
Minority interests	4.85	14.6	13.8	0.11	5.33	5.48	1.57	2.27	1.05	1.05
Total equity	3,253	3,835	4,561	7,028	7,344	8,446	8,594	7,634	4,834	4,607
Total liabilities and equity	6,419	9,020	8,844	14,467	16,829	20,520	19,658	18,305	14,295	15,002
Shares outstanding	321	364	371	518	541	597	597	599	600	597

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	226	291	1,018	376	432	657	904	-556	-2,408	-276
Depreciation and amortization	97.6	132	141	157	276	334	346	616	454	273
Stock-based compensation	7.94	9.95	16.5	32.2	47.2	52.1	49.4	33.3	33	25.7
Deferred income tax	-8.73	-0.34	-2.24	-4.23	20.9	53.4	29.3	-163	13	10.6
Change in payables	41.6	2.49	-5.6	39.6	-18.4	54.1	33.6	-4.6	23.5	21.7
Cash from operations	264	362	449	494	618	812	739	506	245	231
Cash from investing	-927	-2,362	564	-4,884	-2,947	-3,858	396	518	1,318	-265
Debt issued	1,000	2,355	760	3,048	2,216	3,408	129		804	2,513
Debt repaid	-575	-1,038			-800	-1,391	-870	-988	-702	-2,253
Stock issued	1,174	548	94.2	2,533	411	1,051
Share buybacks							-17.9			-23.4
Dividends paid	-218	-327	-364	-412	-568	-643	-699	-615	-321	-193
Cash from financing	553	2,070	-346	5,042	1,401	2,948	-1,343	-1,020	-1,479	228
Exchange rate effect	-3	16.9	-17.2	-6.48	16.4	4.66	-12.9	11.4	-5.22	14.7
Net change in cash	-109	71.3	667	652	-928	-99.1	-207	3.02	84.4	194
Interest paid	139	150	222	211	310	326	354	406	420	458
Income taxes paid										20.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $3.57 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	89.4%	Gross profit / revenue.
Pre-tax margin	-12.8%	Pre-tax income / revenue.
Net margin	-12.6%	Net income / revenue.
Operating cash flow margin	21.6%	Cash from operations / revenue.
Return on equity (ROE)	-2.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-0.9%	Net income / average total assets.
Stock-based pay / revenue	0.9%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	27.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-14.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-4.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-4.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-13.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-6.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-6.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-32.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-17.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-28.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-34.2%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-21.1%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-4.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-18.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-8.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	4.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-8.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-2.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	2.13x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	65.5%	Total debt / total assets.
Liabilities / assets	69.2%	Total liabilities / total assets.
Net debt	$9.24B	Total debt - cash - short-term investments. Negative means more cash than debt.
Tangible book value	$4.54B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.07x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.21	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$1.67	Revenue / diluted weighted shares.
Operating cash flow per share	$0.36	Cash from operations / diluted weighted shares.
Book value per share	$7.60	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.60	Tangible book value / shares outstanding.
Cash per share	$0.71	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.13B	Share price x shares outstanding.
Enterprise value	$11.37B	Market cap + total debt - cash - short-term investments.
P/S	2.13x	Market cap / revenue.
P/B	0.47x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.47x	Market cap / tangible book value, when positive.
P/OCF	9.86x	Market cap / cash from operations, when positive.
EV/Sales	11.4x	Enterprise value / revenue.
Earnings yield	-5.9%	Net income / market cap (the inverse of P/E).
Dividend yield	9.4%	Dividends paid over the period / market cap.
Shareholder yield	9.4%	(Dividends paid + share buybacks) / market cap.

What was MEDICAL PROPERTIES TRUST INC's revenue in fiscal 2025?

MEDICAL PROPERTIES TRUST INC reported revenue of $972.0M for fiscal 2025, 2.4% lower than the year before.

Was MEDICAL PROPERTIES TRUST INC profitable in fiscal 2025?

No. It reported a net loss of $277.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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