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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. ). 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.
Operating margin is thin at 7.59%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 4.5%, steady but not accelerating.
Net debt of $9.68B represents 27.1x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$2.87B
▲ +4.5% YoY
Net Income (TTM)
$222M
▼ -70.7% YoY
Op. Margin
5.55%
▲ +6.3pp YoY
ROIC
0.86%
▲ +1.0pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$357M
▲ +7.0% YoY
Op. Cash Flow (TTM)
$1.23B
▲ +17.0% YoY
Net Debt
$9.54B
Cash & Equiv.
$1.17B
5Y CAGR: +11.5%
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