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Side-by-side financial comparison of MEDICAL PROPERTIES TRUST INC (MPW) and Madison Square Garden Sports Corp. (MSGS). Click either name above to swap in a different company.
Madison Square Garden Sports Corp. is the larger business by last-quarter revenue ($403.4M vs $270.3M, roughly 1.5× MEDICAL PROPERTIES TRUST INC). MEDICAL PROPERTIES TRUST INC runs the higher net margin — 6.5% vs 2.0%, a 4.5% gap on every dollar of revenue. On growth, MEDICAL PROPERTIES TRUST INC posted the faster year-over-year revenue change (16.6% vs 12.8%). Over the past eight quarters, MEDICAL PROPERTIES TRUST INC's revenue compounded faster (-0.2% CAGR vs -3.1%).
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
MPW vs MSGS — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $270.3M | $403.4M |
| Net Profit | $17.6M | $8.2M |
| Gross Margin | 95.8% | — |
| Operating Margin | 9.7% | 5.5% |
| Net Margin | 6.5% | 2.0% |
| Revenue YoY | 16.6% | 12.8% |
| Net Profit YoY | 104.3% | 641.9% |
| EPS (diluted) | $0.03 | $0.34 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $270.3M | $403.4M | ||
| Q3 25 | $237.5M | $39.5M | ||
| Q2 25 | $240.4M | $204.0M | ||
| Q1 25 | $223.8M | $424.2M | ||
| Q4 24 | $231.8M | $357.8M | ||
| Q3 24 | $225.8M | $53.3M | ||
| Q2 24 | $266.6M | $227.3M | ||
| Q1 24 | $271.3M | $430.0M |
| Q4 25 | $17.6M | $8.2M | ||
| Q3 25 | $-77.7M | $-8.8M | ||
| Q2 25 | $-98.4M | $-1.8M | ||
| Q1 25 | $-118.3M | $-14.2M | ||
| Q4 24 | $-412.3M | $1.1M | ||
| Q3 24 | $-801.2M | $-7.5M | ||
| Q2 24 | $-320.6M | $25.5M | ||
| Q1 24 | $-875.6M | $37.9M |
| Q4 25 | 95.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 91.8% | — | ||
| Q1 25 | 63.6% | — | ||
| Q4 24 | 90.9% | — | ||
| Q3 24 | 96.5% | — | ||
| Q2 24 | 98.4% | — | ||
| Q1 24 | 84.9% | — |
| Q4 25 | 9.7% | 5.5% | ||
| Q3 25 | -28.0% | -69.5% | ||
| Q2 25 | -36.7% | -11.1% | ||
| Q1 25 | -48.5% | 7.6% | ||
| Q4 24 | -173.7% | 3.7% | ||
| Q3 24 | -350.7% | -15.5% | ||
| Q2 24 | -114.5% | 23.0% | ||
| Q1 24 | -318.6% | 18.5% |
| Q4 25 | 6.5% | 2.0% | ||
| Q3 25 | -32.7% | -22.3% | ||
| Q2 25 | -40.9% | -0.9% | ||
| Q1 25 | -52.8% | -3.4% | ||
| Q4 24 | -177.8% | 0.3% | ||
| Q3 24 | -354.8% | -14.1% | ||
| Q2 24 | -120.3% | 11.2% | ||
| Q1 24 | -322.7% | 8.8% |
| Q4 25 | $0.03 | $0.34 | ||
| Q3 25 | $-0.13 | $-0.37 | ||
| Q2 25 | $-0.16 | $-0.08 | ||
| Q1 25 | $-0.20 | $-0.59 | ||
| Q4 24 | $-0.68 | $0.05 | ||
| Q3 24 | $-1.34 | $-0.31 | ||
| Q2 24 | $-0.54 | $1.07 | ||
| Q1 24 | $-1.46 | $1.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $540.9M | $81.3M |
| Total DebtLower is stronger | $9.7B | — |
| Stockholders' EquityBook value | $4.6B | $-282.1M |
| Total Assets | $15.0B | $1.5B |
| Debt / EquityLower = less leverage | 2.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $540.9M | $81.3M | ||
| Q3 25 | $396.6M | $48.6M | ||
| Q2 25 | $509.8M | $144.6M | ||
| Q1 25 | $673.5M | $96.5M | ||
| Q4 24 | $332.3M | $107.8M | ||
| Q3 24 | $275.6M | $52.3M | ||
| Q2 24 | $606.5M | $89.1M | ||
| Q1 24 | $224.3M | $40.0M |
| Q4 25 | $9.7B | — | ||
| Q3 25 | $9.6B | — | ||
| Q2 25 | $9.6B | — | ||
| Q1 25 | $9.5B | — | ||
| Q4 24 | $8.8B | — | ||
| Q3 24 | $9.2B | — | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $10.1B | — |
| Q4 25 | $4.6B | $-282.1M | ||
| Q3 25 | $4.7B | $-294.2M | ||
| Q2 25 | $4.8B | $-281.4M | ||
| Q1 25 | $4.8B | $-283.4M | ||
| Q4 24 | $4.8B | $-273.1M | ||
| Q3 24 | $5.4B | $-277.5M | ||
| Q2 24 | $6.2B | $-266.3M | ||
| Q1 24 | $6.7B | $-294.0M |
| Q4 25 | $15.0B | $1.5B | ||
| Q3 25 | $14.9B | $1.5B | ||
| Q2 25 | $15.2B | $1.5B | ||
| Q1 25 | $14.9B | $1.5B | ||
| Q4 24 | $14.3B | $1.4B | ||
| Q3 24 | $15.2B | $1.4B | ||
| Q2 24 | $16.2B | $1.3B | ||
| Q1 24 | $17.3B | $1.4B |
| Q4 25 | 2.11× | — | ||
| Q3 25 | 2.06× | — | ||
| Q2 25 | 2.00× | — | ||
| Q1 25 | 1.99× | — | ||
| Q4 24 | 1.83× | — | ||
| Q3 24 | 1.69× | — | ||
| Q2 24 | 1.51× | — | ||
| Q1 24 | 1.51× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $230.8M | $32.4M |
| Free Cash FlowOCF − Capex | — | $31.6M |
| FCF MarginFCF / Revenue | — | 7.8% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | 13.11× | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-480.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $230.8M | $32.4M | ||
| Q3 25 | $18.6M | $-85.0M | ||
| Q2 25 | $51.7M | $49.7M | ||
| Q1 25 | $384.0K | $6.3M | ||
| Q4 24 | $245.5M | $61.8M | ||
| Q3 24 | $59.2M | $-26.2M | ||
| Q2 24 | $35.3M | $108.4M | ||
| Q1 24 | $74.3M | $4.0M |
| Q4 25 | — | $31.6M | ||
| Q3 25 | — | $-85.3M | ||
| Q2 25 | — | $49.4M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | — | $-26.5M | ||
| Q2 24 | — | $108.0M | ||
| Q1 24 | — | $3.9M |
| Q4 25 | — | 7.8% | ||
| Q3 25 | — | -216.3% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | -49.7% | ||
| Q2 24 | — | 47.5% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | 13.11× | 3.94× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 55.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.25× | ||
| Q1 24 | — | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MPW
Segment breakdown not available.
MSGS
| Event Related | $167.2M | 41% |
| Media Rights | $122.3M | 30% |
| Sponsorship Signage And Suite Licenses | $98.5M | 24% |
| League Distribution | $15.4M | 4% |
