Filing Flows › Medical Properties Trust (MPT) › Q4 2025
Medical Properties Trust (MPT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Medical Properties Trust (MPT) reported revenue of $270M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +14% from the quarter before. Operating margin was 13.6%, net earnings $17.3M (6.4% of revenue).
Medical Properties Trust, Q4 2025: revenue $270M (+17% year over year), operating margin 13.6%, net earnings $17.3M, operating cash flow $160M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $270M | +14% | +17% |
| Operating profit | $36.7M | — | +35% |
| Net earnings | $17.3M | — | — |
| Operating cash flow | $160M | +762% | +109% |
What changed
Revenue was $270.3M in Q4 2025, up 17% year over year and up 14% from the previous quarter.
Operating profit was $36.7M, a 13.6% margin (up 1.8 points year over year). Of the extra revenue versus a year earlier, 25% reached operating profit, above the 12% margin then. Total costs grew 14% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+27%). Net earnings were $17.3M. The effective tax rate was 32.6%.
Operating cash flow was $160.1M (up 109% year over year), 910% of net earnings. Non-cash charges added back $69.7M of depreciation and amortization. Working capital and other items added $72.8M.
Questions
What was Medical Properties Trust's revenue in the fourth quarter 2025?
Medical Properties Trust (MPT) reported revenue of $270M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +14% from the quarter before.
Was Medical Properties Trust profitable in the fourth quarter 2025?
Operating profit was $36.7M (13.6% of revenue) and net earnings $17.3M.