MPT NYSE Russell 1000 Earnings call
Medical Properties Trust (MPT) · Q4 2025 results
Share price: $1.78 · 2026-11-11
Results Q4 2025 vs Q3 2025 · previous quarter · published 19 Feb 2026 and 30 Oct 2025
Net income turned to a profit from a loss last quarter. Management sounded cautious, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Turned profit
Net income vs Q3 2025
Outlook given
Net income 17.4M vs -77.7M
Revenue +13.8%
2 · How management spoke
Cautious
Among the least upbeat of all company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
New
MPT expects to reach an annualized run rate of cash collections exceeding $1 billion by the end of 2026.
Valuation
Reverse DCF. Free cash flow from the last full fiscal year, grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
Valuation unavailable: no OCF/capex (bank, utility, or SEC gap).
Current price
$1.78
close of 2026-11-11
Revenue growth, 3 years
−14.3% a year
compound annual rate (CAGR)
Read between the lines
-
Guidance
MPT expects proceeds from a sale and the collection of receivables over the next 60 to 90 days to fully offset costs.
Source quote
“We expect proceeds that will come from that sale, along with collecting of the receivables that will probably take over the next 60 to 90 days, will fully...”
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Guidance
MPT expects recently transitioned tenants to reach 100% contractual rent by the end of 2026 as their rent continues to ramp.
Source quote
“Finally, our portfolio of recently transitioned tenants rent continues to ramp, and we expect them to be at 100% contractual rent by the end of 2026.”
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Figure
MPT remains confident in reaching its goal of over $1 billion in annualized revenue due to encouraging performance trends across the portfolio.
Source quote
“Given the encouraging performance trends across the portfolio, we remain confident in reaching our goal of over $1 billion in annualized...”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q4 2025. Ring: Q3 2025.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“For the second consecutive quarter, post-acute care operators reported a $50 million EBITDARM increase year-over-year, led by a 15% improvement at Ernest Health, a 28% improvement at Vibra and an...”
“Improving reimbursement levels, growing orthopedics demand contributed to notable operational momentum that positions Median for continued strong performance in 2026.”
“Ernest Health delivered double-digit growth in EBITDARM year-over-year, supported by strong performance of their inpatient rehabilitation facilities and expansion of inpatient rehab units within LTAC facilities.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2025-12-31)
| Metric | Q4 2025period end 2025-12-31 | Q3 2025period end 2025-09-30 | Change | Q4 2024 | YoY |
|---|---|---|---|---|---|
| Revenue | 270.3M | 237.5M | +13.8% | 231.8M | +16.6% |
| Gross profit | 180.0M | — | 210.7M | −14.6% | |
| Operating income | 26.1M | -66.6M | Turned profit | -402.8M | Turned profit |
| Net income | 17.4M | -77.7M | Turned profit | -412.9M | Turned profit |
| EPS | 0.03 | -0.13 | Turned profit | -0.69 | Turned profit |
| P/E | 12-mo loss | 12-mo loss | — | 12-mo loss | — |
Topics
Most discussed now
- New Medical Properties Trust talked about there being able in the second quarter that it believes that they'll be totally independent acquiring…
- Medical Properties Trust recently entered into a new master lease agreement with Vibra, who increased EBITDARM coverage 28% year-over-year…
- One is, Medical Properties Trust still has several fairly significant tenants that it is accounting for on the cash received basis.
- I'll just again reiterate based on your question that there's no impact on previous rental revenue because Medical Properties Trust hasn't…
- Going forward, Vibra is a significantly stronger tenant for it.
Faded since Q3 2025
- Fading During the course of this call, Medical Properties Trust will make projections and certain other statements that...
- Fading Higher G&A expense versus the second quarter also impacted GAAP results, primarily driven by higher stock compensation expense resulting…
- Fading Medical Properties Trust certainly recognize the trading volumes and levels of some of the unsecured bonds that could provide attractive…
- Fading Medical Properties Trust has mentioned a few of the increasing possibly increasing cash resources that it will have, including some assets…
Latest announcements
Official filings, newest first.
- Material agreement; New financial obligation · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Results of operations · SEC 8-K
- Regulation FD disclosure; Other events · SEC 8-K
- Results of operations; Other events · SEC 8-K
- Other events · SEC 8-K