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Stocks · Real estate · Real Estate Investment Trusts

Healthpeak Properties

DOC Clue Score38
United States Fiscal year ends December CIK 0000765880
$18.80 +1.51% Close, 9 Oct 2026
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Price $18.80 −44.33% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2016Revenue2.13Net income0.63EPS, diluted1.34Fiscal year 2017Revenue0.52 −75.4%Net income0.41 −34.0%EPS, diluted0.88 −34.3%Fiscal year 2018Revenue0.14 −72.5%Net income1.06 +156.2%EPS, diluted2.24 +154.5%Fiscal year 2019Revenue0.14 +0.1%Net income0.05 −95.7%EPS, diluted0.09 −96.0%Fiscal year 2020Revenue0.44 +202.4%Net income0.41 +808.3%EPS, diluted0.77 +755.6%Fiscal year 2021Revenue0.47 +8.0%Net income0.51 +22.2%EPS, diluted0.93 +20.8%Fiscal year 2022Revenue0.49 +5.0%Net income0.50 −1.0%EPS, diluted0.92 −1.1%Fiscal year 2023Revenue0.53 +6.6%Net income0.31 −38.9%EPS, diluted0.56 −39.1%Fiscal year 2024Revenue0.57 +7.8%Net income0.24 −20.5%EPS, diluted0.36 −35.7%Fiscal year 2025Revenue0.60 +6.2%Net income0.07 −70.7%EPS, diluted0.10 −72.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.13 0.52 0.14 0.14 0.44 0.47 0.49 0.53 0.57 0.60
Growth −75.4% −72.5% +0.1% +202.4% +8.0% +5.0% +6.6% +7.8% +6.2%
Net income 0.63 0.41 1.06 0.05 0.41 0.51 0.50 0.31 0.24 0.07
Growth −34.0% +156.2% −95.7% +808.3% +22.2% −1.0% −38.9% −20.5% −70.7%
EPS, diluted 1.34 0.88 2.24 0.09 0.77 0.93 0.92 0.56 0.36 0.10
Growth −34.3% +154.5% −96.0% +755.6% +20.8% −1.1% −39.1% −35.7% −72.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Net margin29.5%Free cash flow margin35.5%Fiscal year 2017Net margin79.0%Free cash flow margin71.6%Fiscal year 2018Net margin735.8%Free cash flow margin199.6%Fiscal year 2019Net margin31.5%Free cash flow margin117.0%Fiscal year 2020Net margin94.7%Free cash flow margin−7.0%Fiscal year 2021Net margin107.3%Free cash flow margin7.5%Fiscal year 2022Net margin101.1%Free cash flow margin−12.5%Fiscal year 2023Net margin58.0%Free cash flow margin34.4%Fiscal year 2024Net margin42.8%Free cash flow margin58.7%Fiscal year 2025Net margin11.8%Free cash flow margin59.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin 29.5% 79.0% 735.8% 31.5% 94.7% 107.3% 101.1% 58.0% 42.8% 11.8%
Free cash flow margin 35.5% 71.6% 199.6% 117.0% −7.0% 7.5% −12.5% 34.4% 58.7% 59.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.21Capital expenditure−0.46Free cash flow0.76Buybacks−0.01Dividends paid−0.98Fiscal year 2017Operating cash flow0.85Capital expenditure−0.47Free cash flow0.38 −50.3%Buybacks−0.00Dividends paid−0.69Fiscal year 2018Operating cash flow0.85Capital expenditure−0.56Free cash flow0.29 −23.3%Buybacks−0.00Dividends paid−0.70Fiscal year 2019Operating cash flow0.85Capital expenditure−0.68Free cash flow0.17 −41.4%Buybacks−0.01Dividends paid−0.72Fiscal year 2020Operating cash flow0.76Capital expenditure−0.79Free cash flow−0.03 −118.0%Buybacks−0.01Dividends paid−0.79Fiscal year 2021Operating cash flow0.80Capital expenditure−0.76Free cash flow0.04Buybacks−0.01Dividends paid−0.65Fiscal year 2022Operating cash flow0.90Capital expenditure−0.96Free cash flow−0.06 −273.8%Buybacks−0.07Dividends paid−0.65Fiscal year 2023Operating cash flow0.96Capital expenditure−0.77Free cash flow0.18Buybacks−0.01Dividends paid−0.66Fiscal year 2024Operating cash flow1.07Capital expenditure−0.74Free cash flow0.33 +83.7%Buybacks−0.19Dividends paid−0.79Fiscal year 2025Operating cash flow1.25Capital expenditure−0.89Free cash flow0.36 +7.0%Buybacks−0.10Dividends paid−0.85
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.21 0.85 0.85 0.85 0.76 0.80 0.90 0.96 1.07 1.25
Capital expenditure −0.46 −0.47 −0.56 −0.68 −0.79 −0.76 −0.96 −0.77 −0.74 −0.89
Free cash flow 0.76 0.38 0.29 0.17 −0.03 0.04 −0.06 0.18 0.33 0.36
Growth −50.3% −23.3% −41.4% −118.0% −273.8% +83.7% +7.0%
Buybacks −0.01 −0.00 −0.00 −0.01 −0.01 −0.01 −0.07 −0.01 −0.19 −0.10
Dividends paid −0.98 −0.69 −0.70 −0.72 −0.79 −0.65 −0.65 −0.66 −0.79 −0.85

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.09Total debt9.10Net cash (debt)−9.00Shareholders’ equity5.55Debt to equity1.64Fiscal year 2017Cash0.06Total debt7.79Net cash (debt)−7.73Shareholders’ equity5.30Debt to equity1.47Fiscal year 2018Cash0.05Total debt5.48Net cash (debt)−5.42Shareholders’ equity5.94Debt to equity0.92Fiscal year 2019Cash0.08Total debt6.30Net cash (debt)−6.22Shareholders’ equity6.09Debt to equity1.04Fiscal year 2020Cash0.04Total debt6.62Net cash (debt)−6.57Shareholders’ equity6.73Debt to equity0.98Fiscal year 2021Cash0.16Total debt6.17Net cash (debt)−6.01Shareholders’ equity6.52Debt to equity0.95Fiscal year 2022Cash0.07Total debt6.50Net cash (debt)−6.43Shareholders’ equity6.65Debt to equity0.98Fiscal year 2023Cash0.12Total debt6.88Net cash (debt)−6.76Shareholders’ equity6.35Debt to equity1.08Fiscal year 2024Cash0.12Total debt8.72Net cash (debt)−8.60Shareholders’ equity8.40Debt to equity1.04Fiscal year 2025Cash0.47Total debt9.85Net cash (debt)−9.38Shareholders’ equity7.50Debt to equity1.31
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.09 0.06 0.05 0.08 0.04 0.16 0.07 0.12 0.12 0.47
Total debt 9.10 7.79 5.48 6.30 6.62 6.17 6.50 6.88 8.72 9.85
Net cash (debt) −9.00 −7.73 −5.42 −6.22 −6.57 −6.01 −6.43 −6.76 −8.60 −9.38
Shareholders’ equity 5.55 5.30 5.94 6.09 6.73 6.52 6.65 6.35 8.40 7.50
Debt to equity 1.64 1.47 0.92 1.04 0.98 0.95 0.98 1.08 1.04 1.31

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
2.13 0.52 0.14 0.14 0.44 0.47 0.49 0.53 0.57 0.60
Growth −75.4% −72.5% +0.1% +202.4% +8.0% +5.0% +6.6% +7.8% +6.2%
0.74 0.67 0.38 0.41 0.78 0.77 0.86 0.90 1.07 n/a
0.10 0.09 0.10 0.09 0.09 0.10 0.13 0.10 0.10 0.09
0.01 0.01 −0.00 −0.01 0.22 0.13 0.51 0.31 0.27 0.28
0.00 −0.00 −0.00 −0.01 −0.01 −0.00 −0.00 −0.01 0.00 0.01
0.63 0.41 1.06 0.05 0.41 0.51 0.50 0.31 0.24 0.07
Growth −34.0% +156.2% −95.7% +808.3% +22.2% −1.0% −38.9% −20.5% −70.7%
Per share
1.34 0.88 2.25 0.09 0.77 0.93 0.92 0.56 0.36 0.10
1.34 0.88 2.24 0.09 0.77 0.93 0.92 0.56 0.36 0.10
Growth −34.3% +154.5% −96.0% +755.6% +20.8% −1.1% −39.1% −35.7% −72.2%
467.2 468.8 470.6 486.3 530.6 538.9 538.8 547.0 675.7 696.0
467.4 468.9 475.4 489.3 531.1 539.2 539.1 547.3 676.2 696.0
Growth +0.3% +1.4% +2.9% +8.5% +1.5% −0.0% +1.5% +23.6% +2.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 6.7% a year over five years, and earnings per share fell 33.5% a year.
  • The diluted share count rose 31.1% in five years, which is dilution.
  • Profitable in every one of the 10 years on file.