Overview
HEALTHPEAK PROPERTIES, INC.
Latest 10-K: FY2025, filed Feb 3, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $2.82B
- 4.5%YoYup from FY2024
- TotalRevenue
- Gross profit
- Not reported
- Net income
- $0.07B
- 70.7%YoYdown from FY2024
- NetIncome
- Diluted EPS
- $0.10
- 72.2%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 696.0M
- 2.9%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- HEALTHPEAK PROPERTIES, INC. reported revenue of $2.82B for fiscal 2025, up 4.5% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 3 of the last 5 fiscal years.
Profitability
- Net margin was 2.5%, against a median of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $0.10, down 72.2% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $2.82B4.5%up Benchmark median 6.4% | $2.70B23.8%up Benchmark median 4.5% | $2.18B5.8%up Benchmark median 4.8% | $2.06B8.7%up Benchmark median 10.3% | $1.90B15.3%up Benchmark median 13.8% | 10.5% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | — | $1.63B27.1%up Benchmark median 5.5% | $1.28B6.7%up Benchmark median 5.2% | $1.20B6.7%up Benchmark median 8.3% | $1.12B30.2%up Benchmark median 15.7% | — Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | — | — | — | — | — | — Benchmark median 7.2% |
| Net Income | $71.35M70.7%down Benchmark median 4.8% | $243.14M20.5%down Benchmark median 5.7% | $306.01M38.9%down Benchmark median 1.9% | $500.45M1.0%down Benchmark median 1.3% | $505.54M22.2%up Benchmark median 33.9% | -38.7% Benchmark median 4.1% |
| EPS (Diluted) | $0.1072.2%down Benchmark median 6.2% | $0.3635.7%down Benchmark median 7.9% | $0.5639.1%down Benchmark median 1.9% | $0.921.1%down Benchmark median 1.5% | $0.9320.8%up Benchmark median 34.8% | -42.7% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $20.34B2.0%up Benchmark median 5.6% | $19.94B27.0%up Benchmark median 3.4% | $15.70B0.5%down Benchmark median 4.1% | $15.77B3.4%up Benchmark median 2.2% | $15.26B4.2%down Benchmark median 6.7% | 7.4% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $12.03B10.6%up Benchmark median 6.4% | $10.88B24.0%up Benchmark median 1.9% | $8.77B3.4%up Benchmark median 2.9% | $8.48B4.6%up Benchmark median 2.0% | $8.11B5.4%down Benchmark median 5.2% | 10.4% Benchmark median 4.4% |
| Stockholders' Equity | $8.14B10.1%down Benchmark median 6.8% | $9.06B31.7%up Benchmark median 5.4% | $6.88B4.3%down Benchmark median 7.3% | $7.18B1.8%up Benchmark median 2.5% | $7.06B3.2%down Benchmark median 9.0% | 3.6% Benchmark median 6.1% |
| Cash & Equivalents | $467.46M290.1%up Benchmark median 5.2% | $119.82M1.9%up Benchmark median 1.9% | $117.64M63.3%up Benchmark median 6.7% | $72.03M54.5%down Benchmark median -8.6% | $158.29M257.9%up Benchmark median -2.9% | 31.1% Benchmark median 2.0% |
| Total Debt | $9.85B†13.0%up Benchmark median 2.1% | $8.72B†26.8%up Benchmark median 0.2% | $6.88B†5.8%up Benchmark median 0.3% | $6.50B†5.3%up Benchmark median 0.1% | $6.17B†6.8%down Benchmark median -0.1% | 12.4% Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.25B17.0%up Benchmark median 6.3% | $1.07B11.9%up Benchmark median 4.8% | $0.96B6.2%up Benchmark median 9.9% | $0.90B13.2%up Benchmark median -0.7% | $0.80B4.9%up Benchmark median 10.7% | 12.0% Benchmark median 7.0% |
| Capital Expenditures | $894.95M21.5%up Benchmark median 5.4% | $736.76M4.9%down Benchmark median 2.8% | $774.56M19.5%down Benchmark median 11.3% | $961.99M26.6%up Benchmark median 14.0% | $759.72M3.7%down Benchmark median 8.1% | 4.2% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $357.01M7.0%up Benchmark median 7.3% | $333.73M83.7%up Benchmark median 6.1% | $181.68Mn/m Benchmark median 8.8% | negative: -$61.73M273.8%down Benchmark median -11.3% | $35.53Mn/m Benchmark median 10.2% | 78.0% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
0.6%
Wall Street
on net earnings
FY2024 1.8%
3.2%
Value investor
on free cash flow
FY2024 2.4%
Gap +2.6 pts: Value-investor figure 2.6 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 160.8×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
72.8%
Wall Street
on book equity
FY2024 66.1%
66.3%
Value investor
on tangible book
FY2024 59.6%
Gap −6.5 pts: Value-investor figure 6.5 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 1.4×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
0.8%
Wall Street
ROE: net income ÷ equity
FY2024 3.1%
— Not reported
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 — Not reported
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
— Not reported
Wall Street
EBITDA margin
FY2024 — Not reported
12.6%
Value investor
Free-cash-flow margin
FY2024 12.4%
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Debt cover
How many times one year of earnings repays all debt
— Not reported
Wall Street
EBITDA ÷ total debt
FY2024 — Not reported
0.04×
Value investor
FCF ÷ total debt
FY2024 0.04×
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on DOC yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on DOC and publish the result to your public profile.
Cite this page
Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/DOC
Valuein. (2026, October 30). HEALTHPEAK PROPERTIES, INC. (DOC) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/DOC
@misc{valuein_doc_2026,
author = {{Valuein}},
title = {HEALTHPEAK PROPERTIES, INC. (DOC) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/DOC}},
note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}10-K filed Feb 3, 2026 · accession 0001628280-26-005044
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