MPW - NYSE

Medical Properties Trust, Inc.

MPW·NYSE

$5.36

+1.5%

Real EstateREIT - Healthcare Facilities

Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. From its inception in Birmingham, Alabama, the Company has grown to become one of the world's largest owners of hospital real estate with 441 facilities and approximately 44,000 licensed beds as of September 30, 2023. Since the end of the third quarter, the Company has sold four facilities and now owns approximately 43,000 licensed beds in nine countries across three continents. MPT's financing model facilitates acquisitions and recapitalizations and allows operators of hospitals to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$3.22B

EPS-4.0200

P/E Ratio-1.33

Earnings Date02/26/2026

245.48M

Operating Cash Flow

-51%

3Y-70.0%

5Y-50.0%

10Y+19.0%

1.32B

Investing Cash Flow

155%

3Y-134.0%

5Y-127.0%

10Y-168.0%

-1.48B

Financing Cash Flow

45%

3Y-150.0%

5Y-129.0%

10Y-182.0%

Medical Properties Trust, Inc. Cash Conversion Engine

MPW · NYSE

FCF Components

Net Income-2.41B

Depreciation & Amortization453.75M

Stock-Based Compensation32.98M

Change in Working Capital-15.60M

Others2.18B

Capital Expenditures0.00

Free Cash Flow245.48M

Cash Flow Quality Analysis

FCF Conversion Rate

-10.2%

Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.

FCF Growth Trend

-51.5%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$15.60M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.

Medical Properties Trust, Inc. Cash Flow Statement

MPW • NYSE

Medical Properties Trust, Inc. Cash Flow Statement	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006	Dec 2005
OPERATING ACTIVITIES
Net Income	-2.4B	-556.1M	903.8M	656.9M	432.3M	376.4M	1B	291.2M	225.9M	139.9M	50.8M	97.2M	90.1M	26.7M	23M	36.4M	34.5M	41.2M	30.2M	19.6M
Depreciation & Amortization	453.7M	616.1M	345.6M	333.8M	276M	156.6M	141.5M	132M	97.6M	71.8M	55.2M	38.8M	35.6M	35.5M	26.3M	26.3M	26.5M	13.2M	8.3M	4.6M
Change in Deferred Taxes	5.1M	-167.3M	10.7M	42.7M	21.8M	-20.5M	-671.4M	-7.4M	-54M	-3.3M	47.3M	-7.7M	-16.4M	16.1M	17.5M	-4M	-3.1M	0.0	0.0	0.0
Stock-Based Compensation	33M	33.3M	49.4M	52.1M	47.2M	32.2M	16.5M	9.9M	7.9M	11.1M	9.2M	8.8M	7.6M	7M	6.6M	5.5M	6.4M	0.0	0.0	0.0
Other Non-Cash Items	2.2B	563.1M	-600.1M	-287M	-176.8M	-103.6M	-79M	-37.5M	-13.9M	-27.3M	-14.6M	-12.1M	-962K	-5.5M	-16.7M	-902K	-2.8M	-13.8M	263.1K	-3.4M
Change in Working Capital	-15.6M	16.7M	29.6M	13.1M	17.2M	53.1M	23M	-25.1M	1.1M	14.7M	2.6M	15.7M	-10.7M	-452K	3.9M	-520K	8.5M	-3.8M	3.3M	3.5M
Cash from Operating Activities	245.5M	505.8M	739M	811.7M	617.6M	494.1M	449.1M	363.1M	264.7M	207M	150.4M	140.8M	105.3M	79.3M	60.6M	62.8M	69.9M	36.8M	42.1M	24.3M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	(0.0)	(0.0)	-1.5B	-65.5M	-4.3B	-4.9B	-1.4B	-2.2B	(27.6M)	-2.2B	(0.0)	(0.0)	(0.0)	-269.5M	-144.4M	-421K	-430.7M	-213M	-235.8M	-97.8M
Acquisitions, Net	-94M	-222.8M	-1.3B	-5.3B	-4.2B	-4.6B	-1.4B	-2.2B	-1.7B	-2.2B	-767.7M	-654.9M	-621.5M	(0.0)	(0.0)	(15M)	(0.0)	(0.0)	(0.0)	(0.0)
Purchase of Investments	-156.1M	-294.2M	-207.4M	-289.2M	-36.2M	-293.2M	-138.4M	-95M	-119.4M	-17.3M	-13.1M	-52.1M	-31.9M	-41.5M	-20.9M	-23.2M	-95.6M	-130.3M	-68.7M	-46M
Sale/Maturity of Investments	0.0	0.0	14.3M	65.5M	1.5B	112.7M	2.4B	72.8M	50M	791M	0.0	0.0	0.0	0.0	0.0	4.3M	0.0	0.0	0.0	0.0
Other Investing Items	1.6B	1B	3.4B	1.7B	4.1B	4.7B	2.1B	-20.3M	797.7M	290.6M	-69.2M	-5.5M	36.3M	45.4M	188.2M	-7.8M	157.6M	143.1M	7.6M	-70.9M
Cash from Investing Activities	(1.3B)	(517.6M)	(396.1M)	-3.9B	-2.9B	-4.9B	(564.2M)	-2.4B	-926.5M	-1.9B	-850M	-712.6M	-617.1M	-265.6M	(22.8M)	-12.1M	-368.7M	-200.2M	-296.9M	-214.7M
FINANCING ACTIVITIES
Net Issuance of Common Stock	0.0	0.0	-17.9M	1.1B	411.1M	2.5B	94.2M	547.8M	1.2B	817.4M	138.2M	313.3M	233M	0.0	288.1M	68M	128.3M	135.5M	0.0	125.3M
Net Issuance of Debt	102.4M	-420.3M	-537.5M	2.6B	1.6B	3B	-52M	1.9B	-385.3M	1.2B	815.4M	393.3M	335.2M	293.3M	-205.5M	-53.6M	156.2M	131.6M	243.5M	43.8M
Cash Paid for Dividends	-321.1M	-615.4M	-698.5M	-643.5M	-568M	-411.7M	-363.9M	-326.7M	-218.4M	-183M	-144.4M	-120.3M	-104M	-89.6M	-77.1M	-61.6M	-65.1M	-53.1M	-36.1M	-16.7M
Share Repurchases	(0.0)	(0.0)	-17.9M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-262K	(0.0)	-75K
Other Financing Items	-1.3B	15.3M	-88.6M	-36.7M	-20.6M	-62.3M	-24.2M	-18.3M	1.2B	-23.9M	-6.6M	-6.5M	-17.9M	-13.1M	-5.8M	232K	-3.1M	39.4M	-7.6M	-398.8K
Cash from Financing Activities	-1.5B	-1B	-1.3B	2.9B	1.4B	5B	-345.9M	2.1B	552.6M	1.8B	802.6M	579.8M	446.4M	190.7M	-317K	-47.1M	216.3M	253.5M	199.8M	152M
CASH FLOW SUMMARY
Effect of Foreign Exchange Rates	-5.2M	11.4M	-12.9M	4.7M	16.4M	-6.5M	-17.2M	16.9M	-3M	-11.1M	-4.4M	620K	0.0	0.0	0.0	0.0	0.0	0.0	-55,012.9B	-38.4B
Net Change in Cash	79.2M	14.4M	-220.3M	-94.5M	-911.6M	645.6M	650.2M	88.2M	-112.3M	51M	98.6M	8.7M	-65.4M	4.3M	83.1M	3.6M	-82.5M	90.1M	-55M	-38.4M
Cash at Beginning of Period	256M	241.5M	461.9M	556.4M	1.5B	822.4M	172.2M	83.2M	195.5M	144.5M	46M	37.3M	102.7M	98.4M	15.3M	11.7M	94.2M	4.1M	59.1M	97.5M
Cash at End of Period	335.2M	256M	241.5M	461.9M	556.4M	1.5B	822.4M	171.5M	83.2M	195.5M	144.5M	46M	37.3M	102.7M	98.4M	15.3M	11.7M	94.2M	4.1M	59.1M
Free Cash Flow	245.5M	505.8M	-801.3M	746.1M	-3.7B	-4.4B	-981.9M	-1.9B	292.2M	-2B	150.4M	140.8M	105.3M	-190.2M	-83.8M	62.3M	-360.8M	-176.2M	-193.7M	-73.5M

SEC Filings

MPW - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	January 20, 2026	January 20, 2026	2026	View Filing
10-Q 10-Q 2025 Q3 Q3	November 07, 2025	September 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	October 30, 2025	October 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	August 14, 2025	August 11, 2025	2025	View Filing
8-K 8-K 2025 N/A	August 11, 2025	August 11, 2025	2025	View Filing
10-Q 10-Q 2025 Q2 Q2	August 08, 2025	June 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	July 31, 2025	July 31, 2025	2025	View Filing
8-K 8-K 2025 N/A	June 03, 2025	May 29, 2025	2025	View Filing
10-Q 10-Q 2025 Q1 Q1	May 09, 2025	March 31, 2025	2025	View Filing
8-K 8-K 2025 N/A	May 01, 2025	May 01, 2025	2025	View Filing

Showing 1 to 10 of 385 filings

Related Guides

Blog Categories

Continue your MPW research with focused valuation guides.

Fundamentals

Decode statement quality and operating durability.

Accounting

Interpret line items with cleaner analytical framing.

Forecasting

Translate historical performance into forward scenarios.

Reference

Use practical frameworks for statement-led valuation.

Research Paths

Pick your next lens

Snapshot

Start with context, operating signals, and key market metrics.

Value Model

Stress test fair value across bear, base, and bull assumptions.

Statements

Validate revenue quality, margins, and balance sheet durability.

Earnings Call

Read management commentary and compare it with reported outcomes.

Dividends

Check payout sustainability and long-term distribution behavior.

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.