Medical Properties Trust, Inc. (MPT) Income Statement
MPT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMPT revenue and net income
Where MPT's revenue goes
2025Each bar shows an amount and its share of revenue. MPT kept −28.5% of revenue as net income.
MPT profit margins
MPT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −2.4% | −14.3% | −4.9% | +12.0% |
| Gross profit | −3.4% | −14.5% | −5.2% | +11.7% |
| Operating income | +39.5% | −18.7% | — | +14.2% |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MPT quarterly EPS vs estimates
Medical Properties beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.13).
MPT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $972.0M | $995.5M | $871.8M | $1.54B | $1.54B | $1.25B | $870.2M | $704.7M | $541.1M | $441.9M |
| Cost of revenue | $36.4M | $27.3M | $41.6M | $45.7M | $39.1M | $24.9M | $24.0M | $5.8M | $2.7M | $3.8M |
| Gross profit | $935.6M | $968.3M | $830.2M | $1.50B | $1.51B | $1.22B | $846.3M | $698.9M | $538.4M | $438.1M |
| Sales, general & admin | $130.4M | $133.8M | $145.6M | $160.5M | $145.6M | $131.7M | $96.4M | $58.6M | $48.9M | $43.6M |
| Total operating expenses | $395.8M | $581.4M | $748.9M | $493.5M | $466.9M | $1.22B | $96.4M | $213.3M | $196.8M | $174.8M |
| Operating income | $539.8M | $386.8M | $81.3M | $1.00B | $1.04B | — | $749.8M | $485.6M | $341.6M | $263.2M |
| Interest income | $412.5M | $785.0M | $397.2M | $318.2M | — | — | — | — | — | — |
| Interest expense | $510.4M | $422.1M | $410.9M | $368.5M | $395.0M | $356.9M | $237.8M | $177.0M | $159.6M | $120.9M |
| Income before taxes | −$237.3M | −$2.36B | −$686.8M | $959.7M | $730.9M | $463.3M | $373.8M | $293.9M | $219.1M | $141.4M |
| Income taxes | $38.6M | $44.1M | −$130.7M | $55.9M | $73.9M | $31.1M | −$2.6M | $2.7M | −$6.8M | $1.5M |
| Net income | −$277.0M | −$2.41B | −$556.5M | $902.6M | $656.0M | $431.4M | $374.7M | $289.8M | $225.0M | $139.6M |
| EBITDA | $545.9M | −$1.49B | $340.2M | $1.67B | $1.46B | $1.10B | $754.1M | $647.2M | $476.3M | $334.1M |
| EPS (diluted) | −$0.46 | −$0.81 | −$0.30 | $0.61 | $1.02 | $0.85 | $0.82 | $0.89 | $0.83 | $0.91 |
| Gross margin | 96.3% | 97.3% | 95.2% | 97.0% | 97.5% | 98.0% | 97.2% | 99.2% | 99.5% | 99.1% |
| Operating margin | 55.5% | 38.9% | 9.3% | 65.1% | 67.2% | — | 86.2% | 68.9% | 63.1% | 59.6% |
| Net margin | −28.5% | −242.1% | −63.8% | 58.5% | 42.5% | 34.5% | 43.1% | 41.1% | 41.6% | 31.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $259.3M | $252.1M | $270.3M | $237.5M | $240.4M | $223.8M | $235.3M | $225.8M | $266.6M | $271.3M | $0 | $306.6M |
| Cost of revenue | $150.1M | $9.9M | $9.5M | $9.0M | $10.9M | $7.0M | $9.8M | $5.0M | $7.7M | $4.8M | $3.3M | $6.5M |
| Gross profit | $109.2M | $242.1M | $260.8M | $228.5M | $229.5M | $216.8M | $225.5M | $220.8M | $258.9M | $266.5M | −$125.7M | $300.1M |
| Sales, general & admin | $34.8M | $32.2M | $24.6M | $37.7M | $26.2M | $41.9M | $28.5M | $36.6M | $35.3M | $33.3M | $30.1M | $38.1M |
| Total operating expenses | −$34.7M | $101.9M | $91.7M | $104.7M | $92.9M | $106.5M | $28.5M | $241.5M | $137.6M | $108.9M | $107.4M | $300.1M |
| Operating income | $143.9M | $140.2M | $169.1M | $123.8M | $136.6M | $110.3M | $197.0M | −$20.7M | $121.3M | $157.6M | −$233.1M | — |
| Interest income | — | — | $108.3M | $98.0M | $229.4M | $131.8M | — | — | — | — | — | — |
| Interest expense | $135.3M | $133.3M | $132.5M | $245.5M | $129.7M | $115.8M | $214.9M | $106.2M | $101.4M | $108.7M | $102.1M | $106.7M |
| Income before taxes | $7.8M | $285,000 | $26.1M | −$66.6M | −$88.3M | −$108.6M | −$402.8M | −$791.9M | −$305.1M | −$864.4M | −$659.6M | $127.0M |
| Income taxes | $10.1M | −$32.8M | $8.5M | $10.9M | $9.8M | $9.4M | $9.6M | $9.0M | $14.6M | $10.9M | $4.0M | $10.1M |
| Net income | −$2.6M | $32.8M | $17.3M | −$77.7M | −$98.4M | −$118.3M | −$412.8M | −$801.2M | −$320.6M | −$875.6M | −$663.9M | $116.7M |
| EBITDA | $214.1M | $207.0M | $495.0M | $135.3M | $109.7M | $72.7M | $177.2M | −$479.2M | −$99.8M | −$678.5M | −$120.5M | $314.3M |
| EPS (diluted) | $0.15 | $0.09 | $0.03 | −$0.13 | −$0.16 | −$0.20 | −$0.69 | −$0.09 | $0.04 | −$0.07 | −$0.63 | $0.20 |
| Gross margin | 42.1% | 96.1% | 96.5% | 96.2% | 95.5% | 96.9% | 95.8% | 97.8% | 97.1% | 98.2% | — | 97.9% |
| Operating margin | 55.5% | 55.6% | 62.6% | 52.1% | 56.8% | 49.3% | 83.7% | −9.2% | 45.5% | 58.1% | — | — |
| Net margin | −1.0% | 13.0% | 6.4% | −32.7% | −40.9% | −52.8% | −175.5% | −354.8% | −120.3% | −322.7% | — | 38.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MPT's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MPT financial results
In fiscal year 2025 (ended December 31, 2025), Medical Properties reported revenue of $972.0 million, down 2.4% from the year before. It had a net loss of $277.0 million, a net profit margin of −28.5%. Diluted earnings per share came to −$0.46. Over five years revenue grew at an average rate of −4.9% a year.
See the MPT stock overview for the latest quote and news, or the MPT chart for price history and technical indicators.
MPT income statement FAQ
What is Medical Properties's annual revenue?
Medical Properties reported total revenue of $972.0 million for fiscal year 2025, which ended on December 31, 2025. That was down 2.4% from $995.5 million the previous year.
Is Medical Properties profitable?
No. Medical Properties reported a net loss of $277.0 million in fiscal 2025, a net profit margin of −28.5%; its operating margin was 55.5%.
What is Medical Properties's gross margin?
Medical Properties's gross margin was 96.3% in fiscal 2025: for every $100 of revenue, Medical Properties kept $96 after the direct cost of its products and services.
How fast is Medical Properties growing?
Revenue grew −4.9% a year on average over the last five fiscal years, from $1.2 billion to $972.0 million.
What are Medical Properties's earnings per share?
Medical Properties earned $-0.46 per diluted share in fiscal 2025, compared with $-0.81 a year earlier.
When will Medical Properties report its next earnings?
Medical Properties is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Medical Properties's fiscal year end?
Medical Properties's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.