Medical Properties Trust, Inc. (MPT) vs National Health Investors, Inc. (NHI)

Medical Properties Trust, Inc. and National Health Investors, Inc. are both Reit Healthcare Facilities companies. National Health Investors, Inc. is the larger, with a market value of $3.3B against $2.1B — 1.5× the size. Medical Properties Trust, Inc. has negative trailing earnings, so its P/E is not meaningful; National Health Investors, Inc. trades at 19.3×. National Health Investors, Inc. grew revenue faster over the last twelve months: 23.9% against 10.6%. National Health Investors, Inc. has the higher net margin (38.5% vs −2.96%) and the higher return on invested capital (4.39% vs 0.20%). Both pay a dividend; Medical Properties Trust, Inc. yields more (27.4% vs 6.82%). Across the 21 metrics below, National Health Investors, Inc. leads on 13 and Medical Properties Trust, Inc. on 8.

Valuation

Metric MPT NHI Reit Healthcare Facilities median
P/E n/m 19.29 23.53
P/S 2.09 7.50 5.39
P/B 0.47 2.05 1.88
Price to free cash flow 8.23 n/m 17.82
EV/EBITDA 32.04 15.22 15.62
EV/Sales 11.22 10.38 8.52
Earnings yield (1.51%) 5.19% 2.66%
Free cash flow yield 12.16% (1.78%) 3.37%

Profitability

Metric MPT NHI Reit Healthcare Facilities median
Gross margin 96.11% 76.49% 92.10%
Operating margin 4.27% 45.90% 21.06%
Net margin (2.96%) 38.54% 10.19%
Free cash flow margin 25.39% (13.33%) 7.91%
Return on equity (0.65%) 10.86% 4.06%
Return on assets (0.20%) 5.88% 2.10%
Return on invested capital 0.20% 4.39% 1.96%

Growth

Metric MPT NHI Reit Healthcare Facilities median
Revenue growth (TTM) 10.56% 23.94% 15.71%
EPS growth (last fiscal year) 88.56% (3.51%) —
Revenue growth, 5-year CAGR (4.89%) 2.45% 9.60%
Net income growth, 5-year CAGR 0.00% (5.17%) 0.00%

Health

Metric MPT NHI Reit Healthcare Facilities median
Debt to equity 2.16 0.81 0.84
Current ratio 3.12 6.78 3.05
Net debt to EBITDA 27.87 4.06 5.50

Dividend

Metric MPT NHI Reit Healthcare Facilities median
Dividend yield 27.44% 6.82% 7.11%
Payout ratio 10.55 1.42 2.85

Size

Metric MPT NHI Reit Healthcare Facilities median
Market cap 2.14b 3.30b 4.18b

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