HEALTHPEAK PROPERTIES, INC. DOC

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Healthpeak Properties, Inc. is a Standard & Poor's ("S&P") 500 company that owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery in the United States ("U.S."). Our company was originally founded in 1985. We are organized as an umbrella partnership REIT ("UPREIT"). We hold substantially all of our assets and conduct our operations through our operating subsidiary, Healthpeak OP, a consolidated subsidiary of which we are the managing member. We are a Maryland corporation and qualify as a self-administered REIT. We are headquartered in Denver, Colorado, with additional corporate offices in California, Tennessee, Wisconsin, and Massachusetts and property management offices in several locations throughout the U.S.

Last close 19.25 2026-10-23
Market cap $13.27B 2026-06-30 share count
52-week range 15.70 - 22.95

Valuation FY2025 figures against the last close

P/S22.0x
P/E192.5x
P/FCF37.2x
EV/EBITDA—
Dividend yield6.4%
Diluted EPS0.10

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $604.0M$568.5M$527.4M$494.9M$471.3M$436.5M$144.3M$144.2M$524.3M$2.13B
Cost of revenue —$1.07B$902.1M$863.0M$773.3M$782.5M$405.2M$378.7M$666.3M$738.4M
Gross profit —-$506.4M-$374.6M-$368.1M-$302.0M-$346.0M-$260.9M-$234.4M-$142.0M$1.39B
SG&A $90.4M$97.2M$95.1M$131.0M$98.3M$93.2M$93.0M$96.7M$88.8M$103.6M
Total operating expenses $2.61B$2.67B$1.96B$1.89B$773.3M$782.5M$405.2M$378.7M$666.3M$738.4M
Interest expense $305.2M$280.4M$200.3M$172.9M$158.0M$218.3M$217.6M$261.3M$307.7M$464.4M
Pre-tax income $284.3M$273.2M$314.9M$507.1M$128.4M$217.7M$176.3M$838.6M$10.9M$11.4M
Income tax $9.3M$4.3M$9.6M$4.4M$3.3M$9.4M$5.5M$4.4M$1.3M$4.5M
Net income $71.3M$243.1M$306.0M$500.4M$505.5M$413.6M$45.5M$1.06B$414.2M$627.7M
EPS, basic 0.100.360.560.920.930.770.092.250.881.34
EPS, diluted 0.100.360.560.920.930.770.092.240.881.34
Shares, diluted (wtd. avg.) 696.0M676.2M547.3M539.1M539.2M531.1M489.3M475.4M468.9M467.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $467.5M$119.8M$117.6M$72.0M$158.3M$44.2M$80.4M$54.0M$82.2M$137.0M
Goodwill $68.5M$68.5M$51.0M$18.0M$18.0M$18.0M$17.0M$47.0M$47.0M$42.0M
Other intangibles $654.5M$817.3M$314.2M$418.1M$519.8M$519.9M$260.2M$305.1M$410.1M$479.8M
Total assets $20.34B$19.94B$15.70B$15.77B$15.26B$15.92B$14.03B$12.72B$14.09B$15.76B
Long-term debt $9.85B$8.72B$6.88B$6.50B$6.17B$6.62B$6.30B$5.48B$7.79B$9.10B
Total liabilities $12.03B$10.88B$8.77B$8.48B$8.11B$8.57B$7.37B$6.21B$8.49B$9.82B
Total equity $7.50B$8.40B$6.88B$7.18B$7.06B$7.29B$6.66B$6.51B$5.59B$5.94B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.25B$1.07B$956.2M$900.3M$795.2M$758.4M$846.1M$848.7M$847.0M$1.21B
Stock-based compensation $14.4M$15.5M$14.5M$26.5M$18.2M$17.4M$18.2M$16.6M$14.3M$22.9M
Capital expenditure $894.9M$736.8M$774.6M$962.0M$759.7M$788.9M$677.3M$560.9M$471.8M$458.9M
Investing cash flow -$1.03B-$113.8M-$576.8M-$876.3M$531.0M-$1.01B-$1.45B$1.83B$1.25B-$429.0M
Financing cash flow $136.1M-$941.4M-$337.3M-$116.5M-$1.29B$246.4M$647.3M-$2.62B-$2.15B-$1.05B
Dividends paid $849.1M$794.8M$657.0M$648.0M$650.1M$787.1M$720.1M$696.9M$695.0M$979.5M
Buybacks $97.1M$190.7M$6.5M$67.8M$12.8M$10.5M$5.0M$3.4M$4.8M$8.7M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-005044.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 2.1B Gross profit, FY2016: 1.4B Net income, FY2016: 627.7M Revenue, FY2017: 524.3M Gross profit, FY2017: -142M Net income, FY2017: 414.2M Revenue, FY2018: 144.2M Gross profit, FY2018: -234.4M Net income, FY2018: 1.1B Revenue, FY2019: 144.3M Gross profit, FY2019: -260.9M Net income, FY2019: 45.5M Revenue, FY2020: 436.5M Gross profit, FY2020: -346M Net income, FY2020: 413.6M Revenue, FY2021: 471.3M Gross profit, FY2021: -302M Net income, FY2021: 505.5M Revenue, FY2022: 494.9M Gross profit, FY2022: -368.1M Net income, FY2022: 500.4M Revenue, FY2023: 527.4M Gross profit, FY2023: -374.6M Net income, FY2023: 306M Revenue, FY2024: 568.5M Gross profit, FY2024: -506.4M Net income, FY2024: 243.1M Revenue, FY2025: 604M Net income, FY2025: 71.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.13B $524.3M $144.2M $144.3M $436.5M $471.3M $494.9M $527.4M $568.5M $604.0M
Gross profit $1.39B -$142.0M -$234.4M -$260.9M -$346.0M -$302.0M -$368.1M -$374.6M -$506.4M —
Net income $627.7M $414.2M $1.06B $45.5M $413.6M $505.5M $500.4M $306.0M $243.1M $71.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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