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Side-by-side financial comparison of MEDICAL PROPERTIES TRUST INC (MPW) and NOVAVAX INC (NVAX). Click either name above to swap in a different company.
MEDICAL PROPERTIES TRUST INC is the larger business by last-quarter revenue ($270.3M vs $147.3M, roughly 1.8× NOVAVAX INC). NOVAVAX INC runs the higher net margin — 11.9% vs 6.5%, a 5.4% gap on every dollar of revenue. On growth, NOVAVAX INC posted the faster year-over-year revenue change (66.8% vs 16.6%). Over the past eight quarters, NOVAVAX INC's revenue compounded faster (25.3% CAGR vs -0.2%).
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...
Novavax, Inc., based in Gaithersburg, Maryland, develops vaccines to counter infectious diseases. The company developed the Novavax COVID-19 vaccine, now commercialized by Sanofi. The company also develops vaccines for influenza, respiratory syncytial virus (RSV), avian flu, shingles, Clostridioides difficile, and malaria.
MPW vs NVAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.3M | $147.3M |
| Net Profit | $17.6M | $17.5M |
| Gross Margin | 95.8% | 85.0% |
| Operating Margin | 9.7% | 9.7% |
| Net Margin | 6.5% | 11.9% |
| Revenue YoY | 16.6% | 66.8% |
| Net Profit YoY | 104.3% | 121.6% |
| EPS (diluted) | $0.03 | $0.28 |
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 | $147.3M | ||
| Q3 25 | $237.5M | $70.4M | ||
| Q2 25 | $240.4M | $239.2M | ||
| Q1 25 | $223.8M | $666.5M | ||
| Q4 24 | $231.8M | $88.3M | ||
| Q3 24 | $225.8M | $84.5M | ||
| Q2 24 | $266.6M | $415.5M | ||
| Q1 24 | $271.3M | $93.9M |
| Q4 25 | $17.6M | $17.5M | ||
| Q3 25 | $-77.7M | $-202.4M | ||
| Q2 25 | $-98.4M | $106.5M | ||
| Q1 25 | $-118.3M | $518.6M | ||
| Q4 24 | $-412.3M | — | ||
| Q3 24 | $-801.2M | $-121.3M | ||
| Q2 24 | $-320.6M | $162.4M | ||
| Q1 24 | $-875.6M | $-147.6M |
| Q4 25 | 95.8% | 85.0% | ||
| Q3 25 | — | 69.5% | ||
| Q2 25 | 91.8% | 93.6% | ||
| Q1 25 | 63.6% | 97.9% | ||
| Q4 24 | 90.9% | 58.5% | ||
| Q3 24 | 96.5% | 28.3% | ||
| Q2 24 | 98.4% | 88.9% | ||
| Q1 24 | 84.9% | 36.9% |
| Q4 25 | 9.7% | 9.7% | ||
| Q3 25 | -28.0% | -252.7% | ||
| Q2 25 | -36.7% | 42.2% | ||
| Q1 25 | -48.5% | 77.4% | ||
| Q4 24 | -173.7% | — | ||
| Q3 24 | -350.7% | -158.6% | ||
| Q2 24 | -114.5% | 38.7% | ||
| Q1 24 | -318.6% | -154.3% |
| Q4 25 | 6.5% | 11.9% | ||
| Q3 25 | -32.7% | -287.3% | ||
| Q2 25 | -40.9% | 44.5% | ||
| Q1 25 | -52.8% | 77.8% | ||
| Q4 24 | -177.8% | — | ||
| Q3 24 | -354.8% | -143.5% | ||
| Q2 24 | -120.3% | 39.1% | ||
| Q1 24 | -322.7% | -157.2% |
| Q4 25 | $0.03 | $0.28 | ||
| Q3 25 | $-0.13 | $-1.25 | ||
| Q2 25 | $-0.16 | $0.62 | ||
| Q1 25 | $-0.20 | $2.93 | ||
| Q4 24 | $-0.68 | — | ||
| Q3 24 | $-1.34 | $-0.76 | ||
| Q2 24 | $-0.54 | $0.99 | ||
| Q1 24 | $-1.46 | $-1.05 |
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 | $735.1M |
| Total DebtLower is stronger | $9.7B | — |
| Stockholders' EquityBook value | $4.6B | $-127.8M |
| Total Assets | $15.0B | $1.2B |
| Debt / EquityLower = less leverage | 2.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $540.9M | $735.1M | ||
| Q3 25 | $396.6M | $762.9M | ||
| Q2 25 | $509.8M | $612.3M | ||
| Q1 25 | $673.5M | $731.5M | ||
| Q4 24 | $332.3M | $923.1M | ||
| Q3 24 | $275.6M | $909.5M | ||
| Q2 24 | $606.5M | $1.0B | ||
| Q1 24 | $224.3M | $480.6M |
| 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 | $-127.8M | ||
| Q3 25 | $4.7B | $-156.7M | ||
| Q2 25 | $4.8B | $37.6M | ||
| Q1 25 | $4.8B | $-75.6M | ||
| Q4 24 | $4.8B | $-623.8M | ||
| Q3 24 | $5.4B | $-526.4M | ||
| Q2 24 | $6.2B | $-431.7M | ||
| Q1 24 | $6.7B | $-867.1M |
| Q4 25 | $15.0B | $1.2B | ||
| Q3 25 | $14.9B | $1.2B | ||
| Q2 25 | $15.2B | $1.3B | ||
| Q1 25 | $14.9B | $1.3B | ||
| Q4 24 | $14.3B | $1.6B | ||
| Q3 24 | $15.2B | $1.7B | ||
| Q2 24 | $16.2B | $1.8B | ||
| 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 | $-39.5M |
| Free Cash FlowOCF − Capex | — | $-41.6M |
| FCF MarginFCF / Revenue | — | -28.2% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 13.11× | -2.25× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-250.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $230.8M | $-39.5M | ||
| Q3 25 | $18.6M | $107.8M | ||
| Q2 25 | $51.7M | $-127.5M | ||
| Q1 25 | $384.0K | $-185.5M | ||
| Q4 24 | $245.5M | $-87.3M | ||
| Q3 24 | $59.2M | $-144.8M | ||
| Q2 24 | $35.3M | $314.3M | ||
| Q1 24 | $74.3M | $-83.6M |
| Q4 25 | — | $-41.6M | ||
| Q3 25 | — | $105.8M | ||
| Q2 25 | — | $-127.7M | ||
| Q1 25 | — | $-186.7M | ||
| Q4 24 | — | $-100.3M | ||
| Q3 24 | — | $-146.2M | ||
| Q2 24 | — | $311.4M | ||
| Q1 24 | — | $-90.4M |
| Q4 25 | — | -28.2% | ||
| Q3 25 | — | 150.2% | ||
| Q2 25 | — | -53.4% | ||
| Q1 25 | — | -28.0% | ||
| Q4 24 | — | -113.6% | ||
| Q3 24 | — | -173.0% | ||
| Q2 24 | — | 74.9% | ||
| Q1 24 | — | -96.4% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 7.3% |
| Q4 25 | 13.11× | -2.25× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -1.20× | ||
| Q1 25 | — | -0.36× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.94× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MPW
Segment breakdown not available.
NVAX
| Licensing Royalties And Other | $107.9M | 73% |
| Products | $39.2M | 27% |
