Medical Properties Trust, Inc. (MPT) Key Metrics
MPT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.80B
- Enterprise value
- $12.60B
- P/E (TTM)
- — 10-yr median 18.0
- Forward P/E
- 6.7
- PEG ratio
- 1.61
- Price / sales
- 1.6 10-yr median 5.8
- Price / book
- 0.5 10-yr median 1.1
- EV / EBITDA
- 7.0 10-yr median 17.0
- Dividend yield
- 11.96% $0.36 a year
- Beta
- 1.49
MPT key metrics, 2015–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMPT valuation Price multiples at each fiscal year-end price.
MPT returns How much profit the business earns on the capital it uses.
MPT per-share figures Results divided by the shares outstanding at year-end.
MPT financial health Debt, liquidity and how easily interest is covered.
MPT efficiency & capital use Working capital cycle and where the cash goes.
MPT valuation history
MPT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MPT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MPT cash returned to shareholders
MPT price vs earnings per share
MPT key metrics
2015–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.00B | $2.37B | $2.94B | $6.67B | $13.94B | $11.56B | $9.04B | $4.83B | $3.21B | $2.51B |
| Enterprise value | $12.29B | $11.02B | $12.91B | $16.85B | $24.86B | $20.02B | $14.69B | $9.61B | $6.07B | $5.65B |
| P/E ratio | — | — | — | 7.4 | 21.3 | 26.8 | 24.1 | 16.7 | 14.3 | 18.0 |
| Price / sales | 3.1 | 2.4 | 3.4 | 4.3 | 9.0 | 9.3 | 10.4 | 6.9 | 5.9 | 5.7 |
| Price / book | 0.7 | 0.5 | 0.4 | 0.8 | 1.7 | 1.6 | 1.3 | 1.3 | 1.0 | 1.2 |
| Price / free cash flow | 13.0 | 9.7 | 5.8 | — | 18.7 | — | — | — | 11.0 | — |
| Price / operating cash flow | 13.0 | 9.7 | 5.8 | 9.0 | 17.2 | 18.7 | 18.3 | 13.3 | 12.1 | 12.1 |
| EV / sales | 12.6 | 11.1 | 14.8 | 10.9 | 16.1 | 16.0 | 16.9 | 13.6 | 11.2 | 12.8 |
| EV / EBITDA | 22.5 | — | 37.9 | 10.1 | 17.0 | 18.1 | 19.5 | 14.9 | 12.7 | 16.9 |
| EV / free cash flow | 53.3 | 44.9 | 25.5 | — | 33.3 | — | — | — | 20.8 | — |
| Earnings yield | −9.2% | −101.6% | −18.9% | 13.5% | 4.7% | 3.7% | 4.1% | 6.0% | 7.0% | 5.6% |
| Free cash flow yield | 7.7% | 10.4% | 17.2% | −12.0% | 5.4% | −31.7% | −48.3% | −39.0% | 9.1% | −80.1% |
| Dividend yield | 6.4% | 13.5% | 20.9% | 10.5% | 4.6% | 4.9% | 4.6% | 6.8% | 6.8% | 7.3% |
| Shareholder yield (dividends + buybacks) | 7.2% | 13.5% | 21.2% | 10.7% | 4.6% | 4.9% | 4.6% | 6.8% | 6.8% | 7.3% |
| Share price at fiscal year-end | $5.00 | $3.95 | $4.91 | $11.14 | $23.63 | $21.79 | $21.11 | $13.78 | $12.30 | $11.51 |
| Per share | ||||||||||
| Revenue per share | $1.62 | $1.66 | $1.46 | $2.58 | $2.62 | $2.36 | $2.03 | $2.01 | $2.07 | $2.02 |
| Earnings per share | −$0.46 | −$4.02 | −$0.93 | $1.51 | $1.11 | $0.81 | $0.87 | $0.83 | $0.86 | $0.64 |
| Operating cash flow per share | $0.38 | $0.41 | $0.85 | $1.23 | $1.38 | $1.16 | $1.15 | $1.04 | $1.01 | $0.95 |
| Free cash flow per share | $0.38 | $0.41 | $0.85 | −$1.34 | $1.26 | −$6.91 | −$10.19 | −$5.38 | $1.12 | −$9.22 |
| Cash per share | $0.90 | $0.55 | $0.42 | $0.39 | $0.78 | $1.04 | $3.41 | $0.49 | $0.32 | $0.90 |
| Book value per share | $7.67 | $8.05 | $12.75 | $14.35 | $14.30 | $13.83 | $16.41 | $10.90 | $12.44 | $9.63 |
| Tangible book value per share | $6.22 | $8.05 | $12.75 | $14.35 | $12.14 | $11.58 | $15.11 | $9.64 | $11.31 | $8.45 |
| Dividends per share | $0.32 | $0.53 | $1.03 | $1.17 | $1.09 | $1.07 | $0.96 | $0.93 | $0.84 | $0.84 |
| Capex per share | $0.37 | $0.31 | $0.58 | $2.57 | $0.11 | $8.08 | $11.34 | $6.41 | $0.11 | $10.16 |
| Debt per share | $16.35 | $14.95 | $17.08 | $17.39 | $19.27 | $16.98 | $16.59 | $14.14 | $11.25 | $15.28 |
| Shares outstanding | 600.9M | 600.3M | 598.5M | 598.8M | 590.1M | 530.5M | 428.3M | 350.4M | 261.1M | 218.3M |
| Change in shares outstanding | +0.1% | +0.3% | −0.1% | +1.5% | +11.3% | +23.9% | +22.2% | +34.2% | +19.6% | +28.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −5.9% | −38.7% | −6.9% | 10.6% | 8.3% | 6.0% | 6.9% | 8.2% | 8.4% | 8.0% |
| Return on invested capital (ROIC) | 3.1% | 2.0% | 0.4% | 5.0% | 5.3% | — | 7.0% | 6.5% | 6.0% | 6.0% |
| Return on assets (ROA) | −1.9% | −14.8% | −2.9% | 4.5% | 3.5% | 2.8% | 3.2% | 3.8% | 3.7% | 3.0% |
| Return on tangible assets | −2.0% | −16.9% | −3.0% | 4.6% | 3.4% | 2.8% | 2.7% | 3.4% | 3.7% | 2.6% |
| Free cash flow margin | 23.7% | 24.7% | 58.0% | −51.9% | 48.3% | −293.6% | −501.5% | −267.3% | 54.0% | −455.3% |
| Income quality (OCF / net income) | — | — | — | 0.82 | 1.24 | 1.43 | 1.32 | 1.25 | 1.18 | 1.48 |
| Financial health | ||||||||||
| Total debt | $9.83B | $8.98B | $10.22B | $10.41B | $11.37B | $9.01B | $7.11B | $4.96B | $2.94B | $3.34B |
| Cash & short-term investments | $540.9M | $332.3M | $250.0M | $235.7M | $459.2M | $549.9M | $1.46B | $171.5M | $83.2M | $195.5M |
| Net debt | $9.29B | $8.64B | $9.97B | $10.18B | $10.91B | $8.46B | $5.65B | $4.78B | $2.85B | $3.14B |
| Debt / equity | 2.13 | 1.86 | 1.34 | 1.21 | 1.35 | 1.23 | 1.01 | 1.30 | 0.90 | 1.59 |
| Debt / assets | 0.65 | 0.63 | 0.56 | 0.53 | 0.55 | 0.54 | 0.49 | 0.55 | 0.46 | 0.59 |
| Net debt / EBITDA | 17.01 | — | 29.31 | 6.08 | 7.48 | 7.66 | 7.49 | 7.39 | 5.99 | 9.40 |
| Current ratio | 1.51 | 1.55 | 0.71 | 1.09 | 7.49 | 9.20 | 15.48 | 1.90 | 1.13 | 1.95 |
| Quick ratio | 1.51 | 1.55 | 0.71 | 1.09 | 7.49 | 9.20 | 15.70 | 2.14 | 1.33 | 2.11 |
| Interest coverage | 1.1 | 0.9 | 0.2 | 2.7 | 2.6 | — | 3.2 | 2.7 | 2.1 | 2.2 |
| Working capital | $609.4M | $468.3M | −$567.2M | $143.6M | $3.94B | $3.60B | $4.22B | $206.7M | $30.2M | $157.9M |
| Invested capital | $13.89B | $13.48B | $17.60B | $18.77B | $19.36B | $15.80B | $12.67B | $8.60B | $6.10B | $5.24B |
| Tangible asset value | $3.74B | $4.83B | $7.63B | $8.59B | $7.17B | $6.15B | $6.47B | $3.39B | $2.96B | $1.85B |
| Net current asset value | −$8.58B | −$8.15B | −$9.27B | −$9.34B | −$7.52B | −$5.45B | −$2.93B | −$4.75B | −$2.91B | −$3.18B |
| Graham number | — | — | — | $22.06 | $18.91 | $15.91 | $17.97 | $14.24 | $15.53 | $11.77 |
| Graham net-net per share | −$15.04 | −$14.15 | −$16.19 | −$16.60 | −$16.07 | −$13.24 | −$9.78 | −$13.82 | −$11.39 | −$14.76 |
| Capital allocation | ||||||||||
| Dividends paid | $193.3M | $321.1M | $615.4M | $698.5M | $643.5M | $568.0M | $411.7M | $326.7M | $218.4M | $183.0M |
| Share buybacks (net) | $23.4M | $0 | $8.1M | $17.9M | $0 | — | — | — | — | — |
| Dividend payout ratio | — | — | — | 77.4% | 98.1% | 131.6% | 109.9% | 112.7% | 97.0% | 131.1% |
| Dividends + buybacks / free cash flow | 93.9% | 130.8% | 123.3% | — | 86.2% | — | — | — | 74.7% | — |
| Capex / revenue | 22.8% | 18.6% | 40.1% | 99.8% | 4.2% | 343.0% | 558.3% | 318.8% | 5.1% | 502.1% |
| Capex / operating cash flow | 96.2% | 75.5% | 69.1% | 208.4% | 8.1% | 693.8% | 983.3% | 618.8% | 10.4% | 1,071.9% |
| Capex / depreciation | 0.81 | 0.41 | 0.57 | 4.46 | 0.20 | 15.53 | 31.03 | 17.02 | 0.28 | 30.89 |
| Stock-based compensation / revenue | 2.6% | 3.3% | 3.8% | 3.2% | 3.4% | 3.8% | 3.7% | 1.4% | 1.5% | 2.5% |
| SG&A / revenue | 13.4% | 13.4% | 16.7% | 10.4% | 9.4% | 10.5% | 11.1% | 8.3% | 9.0% | 9.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 363.0 | 333.6 | 451.3 | 475.5 | 636.3 | 726.6 | 564.2 | 113.7 | 102.4 | 276.3 |
| Days of inventory on hand | — | — | — | — | — | — | -889.5 | -3,123.7 | -4,798.9 | -4,120.3 |
| Days payables outstanding | — | — | — | — | 4,625.9 | 4,937.1 | 3,781.1 | 12,114.8 | 20,794.7 | 11,602.6 |
| Cash conversion cycle (days) | — | — | — | — | -3,989.6 | -4,210.5 | -4,106.4 | -15,124.7 | -25,491.2 | -15,446.6 |
| Receivables turnover | 1.01 | 1.09 | 0.81 | 0.77 | 0.57 | 0.50 | 0.65 | 3.21 | 3.56 | 1.32 |
| Payables turnover | — | — | — | — | 0.08 | 0.07 | 0.10 | 0.03 | 0.02 | 0.03 |
| Asset turnover | 0.07 | 0.06 | 0.05 | 0.08 | 0.08 | 0.08 | 0.07 | 0.09 | 0.09 | 0.09 |
| Average receivables | $966.6M | $910.0M | $1.08B | $2.01B | $2.69B | $2.49B | $1.35B | $219.6M | $151.8M | $334.4M |
| Average payables | — | — | — | — | $495.5M | $336.7M | $248.5M | $192.9M | $154.5M | $120.5M |
| Average inventory | — | — | — | — | — | — | −$58.5M | −$49.7M | −$35.7M | −$42.8M |
| Intangibles / total assets | 5.8% | 0.0% | 0.0% | 0.0% | 6.2% | 7.1% | 3.8% | 4.9% | 4.6% | 4.6% |
Computed from MPT's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MPT valuation and financial ratios
Medical Properties earned a return on equity of −5.9% and a return on invested capital of 3.1% in fiscal 2025. It ended the year with $9.8 billion of debt and $540.9 million in cash and short-term investments, net debt of $9.3 billion. It returned $216.7 million to shareholders: $193.3 million in dividends and $23.4 million in share buybacks, 94% of free cash flow. The share count rose 175.3% from 218.3M to 600.9M over 9 years.
See the MPT income statement, the MPT chart for price history, or the MPT stock overview for the latest quote and news.
MPT key metrics FAQ
What is Medical Properties's EV/EBITDA?
Medical Properties's enterprise value was 22.5 times EBITDA at the end of fiscal 2025 (enterprise value $12.3 billion, EBITDA $545.9 million); the current EV/EBITDA is 7.0.
What is Medical Properties's return on equity?
Medical Properties's return on equity (ROE) was −5.9% in fiscal 2025: net income of -$277.0 million on average shareholders' equity of $4.7 billion.
What is Medical Properties's ROIC?
Medical Properties's return on invested capital was 3.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Medical Properties have?
Medical Properties had total debt of $9.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.13 and $9.3 billion of net debt (17.01 times EBITDA).
What is Medical Properties's dividend yield?
Medical Properties's forward dividend yield is 11.96%. Medical Properties paid $193.3 million in dividends in fiscal 2025 ($0.32 per share), a payout ratio of —.
Does Medical Properties buy back its shares?
Yes. Medical Properties spent $23.4 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.1% over the year, to 600.9M..
What is Medical Properties's free cash flow yield?
Medical Properties generated $230.8 million of free cash flow in fiscal 2025, a free cash flow yield of 7.7% on its market value at year-end ($3.0 billion).
What is Medical Properties's current ratio?
Medical Properties's current ratio was 1.51 at the end of fiscal 2025: current assets were 1.51 times current liabilities.