Medical Properties Trust, Inc. (MPT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-350.7%

-$5.24

vs $2.09 price

Levered DCF

-$9.61

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.02

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-10.87×	-0.98×	-5.28×	7.43×	21.29×	26.9×	24.26×	5.81×
P/B	0.65×	0.49×	0.39×	0.78×	1.65×	1.57×	1.28×	1.29×
P/S	3.09×	2.38×	3.37×	4.32×	9.01×	9.23×	10.36×	7.49×
EV / EBITDA	22.51×	-7.4×	37.94×	10.07×	17.01×	18.1×	19.44×	12.98×
Gross margin	96.3%	97.3%	95.2%	97.0%	97.5%	98.0%	97.2%	98.8%
Operating margin	55.5%	38.9%	9.3%	65.1%	67.2%	0.0%	86.2%	71.5%
Net margin	-28.5%	-242.1%	-63.8%	58.5%	42.5%	34.5%	43.1%	129.6%
Current ratio	1.51×	1.55×	0.71×	1.09×	7.49×	9.2×	15.48×	4.9×
Debt / equity	2.13×	1.86×	1.34×	1.21×	1.35×	1.23×	1.01×	0.89×
Interest coverage	1.06×	0.92×	0.2×	2.72×	2.63×	0×	3.15×	2.51×
Dividend yield	6.4%	13.5%	20.9%	10.5%	4.6%	4.9%	4.6%	6.2%
Payout ratio	-69.8%	-13.3%	-110.6%	77.4%	98.1%	131.6%	109.9%	35.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-6.0%	-49.9%	-7.3%	10.5%	7.8%	5.9%	5.3%	22.4%
Return on invested capital	3.7%	2.8%	0.4%	5.0%	4.7%	0.0%	5.3%	6.5%
Return on assets	-1.8%	-16.9%	-3.0%	4.6%	3.2%	2.6%	2.6%	11.5%
Free cash flow yield	7.7%	10.4%	17.2%	-12.0%	5.4%	-31.8%	-48.4%	-16.7%
Earnings yield	-9.2%	-101.6%	-18.9%	13.5%	4.7%	3.7%	4.2%	17.3%
Enterprise value	$12.3B	$11B	$12.9B	$16.8B	$24.8B	$20B	$14.7B	$9.1B
Net debt / EBITDA	17.01×	-5.81×	29.31×	6.08×	7.48×	7.66×	7.49×	4.62×
Cash conversion cycle (days)	408	310	408	280	-4,964	-4,937	-3,332	-12,074