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Healthpeak Properties (PEAK) Financials

Annual Income Statements for Healthpeak Properties

This table shows Healthpeak Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-561	627	413	1,058	44	411	502	498	304	242
Consolidated Net Income / (Loss)	-546	640	423	1,073	60	428	526	516	335	267
Net Income / (Loss) Continuing Operations	153	374	423	837	175	161	138	514	335	267
Total Pre-Tax Income	136	367	410	839	176	218	128	507	315	273
Total Revenue	1,461	1,665	1,541	930	1,023	1,427	1,738	1,888	1,981	2,420
Net Interest Income / (Expense)	-367	-376	-251	-251	-208	-202	-120	-150	-179	-236
Total Interest Income	112	89	56	10	9.84	17	38	23	22	45
Investment Securities Interest Income	112	89	56	10	9.84	17	38	23	22	45
Total Interest Expense	480	464	308	261	218	218	158	173	200	280
Long-Term Debt Interest Expense	480	464	308	261	218	218	158	173	200	280
Total Non-Interest Income	1,828	2,040	1,792	1,181	1,230	1,628	1,858	2,038	2,159	2,656
Service Charges on Deposit Accounts	525	-	524	144	144	436	471	495	527	568
Other Non-Interest Income	1,303	2,040	1,268	1,037	1,086	1,192	1,387	1,543	1,632	2,087
Total Non-Interest Expense	1,347	1,420	1,464	892	953	1,491	1,581	1,716	1,759	2,385
Other Operating Expenses	707	842	755	475	498	876	872	994	997	1,172
Depreciation Expense	505	568	535	405	435	554	684	711	750	1,057
Impairment Charge	108	0.00	166	11	18	43	23	7.00	-5.60	23
Restructuring Charge	27	9.82	7.96	1.14	1.96	18	1.84	4.85	18	133
Nonoperating Income / (Expense), net	23	122	334	801	107	282	-29	335	93	238
Income Tax Expense	-9.81	4.47	-1.33	-4.40	-5.48	-9.42	-3.26	-4.43	-9.62	4.35
Other Gains / (Losses), net	6.59	11	11	-5.76	-6.33	-67	6.10	1.99	10	-1.52
Net Income / (Loss) Discontinued Operations	-699	266	-	236	-115	268	388	2.88	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	13	12	8.47	12	15	14	21	19	30	25
Basic Earnings per Share	($1.21)	$1.34	$0.88	$2.25	$0.09	$0.77	$0.93	$0.92	$0.56	$0.36
Weighted Average Basic Shares Outstanding	462.80M	467.20M	468.76M	470.55M	486.26M	530.56M	538.93M	538.81M	547.01M	675.68M
Diluted Earnings per Share	($1.21)	$1.34	$0.88	$2.24	$0.09	$0.77	$0.93	$0.92	$0.56	$0.36
Weighted Average Diluted Shares Outstanding	462.80M	467.40M	468.94M	475.39M	489.34M	531.06M	539.24M	539.15M	547.28M	676.23M
Weighted Average Basic & Diluted Shares Outstanding	463.30M	467.60M	469.30M	470.40M	505.41M	538.69M	539.30M	546.78M	547.17M	699.56M
Cash Dividends to Common per Share	$2.26	$2.10	$1.48	$1.48	$1.48	$1.48	$1.20	$1.20	$1.20	$1.20

This table shows Healthpeak Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	7/31/2024	10/31/2024
Net Income / (Loss) Attributable to Common Shareholders	118	52	64	71	6.48	146	86	4.40	42	-26	-13
Consolidated Net Income / (Loss)	135	56	69	75	11	153	93	11	50	-26	-13
Net Income / (Loss) Continuing Operations	135	56	69	75	11	153	93	11	50	-26	-13
Total Pre-Tax Income	133	55	67	60	22	155	99	-3.23	54	-26	-12
Total Operating Income	-	-	-	-	-	-	-	-	-	-43	-30
Total Gross Profit	-	-	-	-	-	-	-	-	-	135	144
Total Revenue	478	496	506	501	546	621	626	627	630	165	173
Operating Revenue	-	-	-	-	-	-	-	-	-	165	173
Total Cost of Revenue	-	-	-	-	-	-	-	-	-	30	30
Operating Cost of Revenue	-	-	-	-	-	-	-	-	-	30	30
Total Operating Expenses	-	-	-	-	-	-	-	-	-	178	173
Selling, General & Admin Expense	-	-	-	-	-	-	-	-	-	36	34
Marketing Expense	-	-	-	-	-	-	-	-	-	88	86
Research & Development Expense	-	-	-	-	-	-	-	-	-	55	53
Total Other Income / (Expense), net	-	-	-	-	-	-	-	-	-	17	17
Interest & Investment Income	6.16	5.28	5.36	4.98	5.75	7.83	14	17	16	18	17
Other Income / (Expense), net	-	-	-	-	-	-	-	-	-	-0.26	0.10
Income Tax Expense	0.30	1.14	0.79	-12	14	2.73	1.94	-14	2.08	0.65	0.61
Basic Earnings per Share	$0.22	$0.09	$0.12	$0.13	$0.01	$0.21	$0.12	$0.02	$0.06	($0.13)	($0.06)
Weighted Average Basic Shares Outstanding	546.84M	547.03M	547.06M	547.01M	600.90M	702.38M	699.35M	675.68M	699.07M	201.87M	203.53M
Diluted Earnings per Share	$0.22	$0.09	$0.12	$0.13	$0.01	$0.21	$0.12	$0.02	$0.06	($0.13)	($0.06)
Weighted Average Diluted Shares Outstanding	547.11M	547.29M	547.33M	547.28M	601.19M	703.27M	700.15M	676.23M	699.12M	201.87M	203.53M
Weighted Average Basic & Diluted Shares Outstanding	547.00M	547.05M	547.07M	547.17M	703.78M	699.29M	699.44M	699.56M	694.73M	202.89M	204.45M

This table details how cash moves in and out of Healthpeak Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	174	-270	-55	58	45	-2.97	38	-93	42	15
Net Cash From Operating Activities	1,222	1,214	847	849	846	758	795	900	956	1,070
Net Cash From Continuing Operating Activities	1,228	1,214	847	849	846	758	795	900	956	1,070
Net Income / (Loss) Continuing Operations	-546	640	423	1,073	60	428	526	516	335	267
Consolidated Net Income / (Loss)	-546	640	423	1,073	60	428	526	516	335	267
Depreciation Expense	511	573	535	549	660	697	684	711	750	1,057
Amortization Expense	20	20	15	13	11	-72	-85	-92	-97	-91
Non-Cash Adjustments to Reconcile Net Income	1,296	-54	-105	-833	93	-404	-356	-354	-114	-208
Changes in Operating Assets and Liabilities, net	-53	35	-20	46	22	109	26	119	83	45
Net Cash From Investing Activities	-1,660	-429	1,246	1,829	-1,449	-1,008	531	-876	-577	-114
Net Cash From Continuing Investing Activities	-1,660	-429	1,246	1,829	-1,449	-1,008	531	-876	-577	-114
Purchase of Property, Leasehold Improvements and Equipment	-84	-91	-115	-106	-109	-94	-111	-109	-114	-116
Purchase of Investment Securities	-2,308	-1,246	-1,011	-587	-2,326	-2,441	-2,137	-1,072	-855	-592
Sale and/or Maturity of Investments	628	232	2,335	2,528	514	1,509	2,742	291	371	751
Other Investing Activities, net	31	28	37	26	382	19	38	13	21	-156
Net Cash From Financing Activities	614	-1,054	-2,148	-2,621	647	246	-1,289	-117	-337	-941
Net Cash From Continuing Financing Activities	614	-1,054	-2,148	-2,621	647	246	-1,289	-117	-337	-941
Issuance of Debt	2,368	2,794	1,250	2,047	9,905	5,337	17,910	16,382	11,088	4,491
Issuance of Common Equity	206	68	28	517	796	1,069	5.04	308	0.28	0.32
Repayment of Debt	-989	-2,912	-2,670	-4,401	-9,332	-5,322	-18,448	-16,062	-10,718	-4,358
Repurchase of Common Equity	-8.74	-8.69	-4.79	-3.43	-5.04	-11	-13	-68	-6.52	-191
Payment of Dividends	-1,047	-980	-695	-697	-720	-787	-650	-648	-657	-795
Other Financing Activities, Net	85	-16	-56	-83	3.80	-41	-93	-29	-45	-90

This table details how cash moves in and out of Healthpeak Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	7/31/2024	10/31/2024
Net Change in Cash & Equivalents	-9.61	43	-47	55	-12	2.14	83	-58	-46	202	126
Net Cash From Operating Activities	174	298	253	231	153	316	318	284	279	-8.57	38
Net Cash From Continuing Operating Activities	174	298	253	231	153	316	318	284	279	-8.57	38
Net Income / (Loss) Continuing Operations	135	56	69	75	11	153	93	11	50	-26	-13
Consolidated Net Income / (Loss)	135	56	69	75	11	153	93	11	50	-26	-13
Depreciation Expense	179	198	185	189	219	283	280	274	269	3.32	3.47
Amortization Expense	-23	-26	-23	-25	-24	-22	-23	-21	-26	-3.55	-3.13
Non-Cash Adjustments To Reconcile Net Income	-81	-6.00	-5.44	-22	-52	-125	-61	29	3.69	39	39
Changes in Operating Assets and Liabilities, net	-36	76	29	14	-1.75	27	29	-9.50	-17	-21	12
Net Cash From Investing Activities	56	-195	-222	-216	-98	188	30	-234	-231	203	91
Net Cash From Continuing Investing Activities	56	-195	-222	-216	-98	188	30	-234	-231	203	91
Purchase of Property, Plant & Equipment	-23	-19	-24	-47	-18	-36	-24	-39	-23	-2.63	-2.44
Purchase of Investments	-227	-216	-214	-199	-140	-139	-205	-109	-280	-126	-47
Sale and/or Maturity of Investments	303	38	6.76	25	232	354	254	-89	65	332	140
Net Cash From Financing Activities	-240	-60	-77	40	-67	-502	-266	-107	-94	7.63	-2.33
Net Cash From Continuing Financing Activities	-240	-60	-77	40	-67	-502	-266	-107	-94	7.63	-2.33
Other Financing Activities, net	-23	-8.20	-7.14	-6.74	-7.25	-63	-9.72	-9.34	-10	0.96	-2.33
Cash Income Taxes Paid	-	-	-	-	-	-	-	-	-	0.52	0.97

This table presents Healthpeak Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	21,450	15,759	14,088	12,719	14,033	15,920	15,258	15,771	15,699	19,938
Cash and Due from Banks	340	95	55	111	80	44	158	72	118	120
Restricted Cash	46	42	27	29	13	67	53	55	51	64
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	11,854	11,326	10,732	10,209	8,231	11,120	12,667	13,023	13,028	15,831
Intangible Assets	587	480	410	305	260	520	520	418	314	817
Other Assets	8,622	3,009	2,864	2,001	5,448	3,974	1,859	2,203	2,187	3,105
Total Liabilities & Shareholders' Equity	21,450	15,759	14,088	12,719	14,033	15,920	15,258	15,771	15,699	19,938
Total Liabilities	11,704	9,818	8,494	6,206	7,365	8,573	8,111	8,483	8,774	10,881
Short-Term Debt	94	92	94	91	93	-	1,166	996	720	150
Other Short-Term Payables	431	417	402	392	-	761	-	-	657	725
Long-Term Debt	10,975	9,097	7,786	5,477	5,909	6,298	5,004	5,502	6,156	8,566
Other Long-Term Liabilities	204	211	211	246	1,363	1,514	1,941	1,985	1,240	1,439
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	57	87	106	49	2.61
Total Equity & Noncontrolling Interests	9,746	5,941	5,595	6,513	6,667	7,290	7,059	7,183	6,876	9,055
Total Preferred & Common Equity	9,344	5,548	5,301	5,944	6,085	6,734	6,515	6,655	6,350	8,401
Total Common Equity	9,344	5,548	5,301	5,944	6,085	6,734	6,515	6,655	6,350	8,401
Common Stock	12,113	8,667	8,696	8,876	9,689	10,714	10,639	10,896	10,953	13,547
Accumulated Other Comprehensive Income / (Loss)	-30	-30	-24	-4.71	-2.86	-3.69	-3.15	28	19	29
Other Equity Adjustments	-	-	-	-2,927	-	-	-	-	-4,622	-5,174
Noncontrolling Interest	403	394	294	568	582	556	543	528	526	654

This table presents Healthpeak Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	7/31/2024	10/31/2024
Total Assets	15,602	15,604	15,603	15,699	20,542	20,180	19,970	19,938	19,816	1,679	1,693
Total Current Assets	-	-	-	-	-	-	-	-	-	1,536	1,553
Cash & Equivalents	59	104	63	118	102	107	180	120	71	797	924
Short-Term Investments	-	-	-	-	-	-	-	-	-	512	423
Accounts Receivable	-	-	-	-	-	-	-	-	-	148	129
Prepaid Expenses	-	-	-	-	-	-	-	-	-	28	26
Other Current Assets	-	-	-	-	-	-	-	-	-	50	51
Plant, Property, & Equipment, net	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Noncurrent Assets	-	-	-	-	-	-	-	-	-	143	140
Goodwill	-	-	-	-	-	-	-	-	-	12	12
Intangible Assets	392	364	339	314	1,160	1,076	898	817	748	10	9.49
Other Noncurrent Operating Assets	-	-	-	-	-	-	-	-	-	121	118
Total Liabilities & Shareholders' Equity	15,602	15,604	15,603	15,699	20,542	20,180	19,970	19,938	19,816	1,679	1,693
Total Liabilities	8,379	8,478	8,570	8,774	10,943	10,761	10,748	10,881	10,972	445	435
Total Current Liabilities	-	-	-	-	-	-	-	-	-	414	410
Accounts Payable	-	-	-	-	-	-	-	-	-	13	21
Accrued Expenses	-	-	-	-	-	-	-	-	-	19	14
Customer Deposits	-	-	-	-	-	-	-	-	-	22	20
Current Deferred Revenue	-	-	-	-	-	-	-	-	-	311	310
Current Employee Benefit Liabilities	-	-	-	-	-	-	-	-	-	49	44
Total Noncurrent Liabilities	-	-	-	-	-	-	-	-	-	31	25
Noncurrent Deferred Revenue	-	-	-	-	-	-	-	-	-	21	17
Other Noncurrent Operating Liabilities	-	-	-	-	-	-	-	-	-	9.39	8.55
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	7,138	7,062	6,984	6,876	9,545	9,417	9,221	9,055	8,829	1,234	1,258
Total Preferred & Common Equity	6,610	6,535	6,457	6,350	8,882	8,757	8,563	8,401	8,188	1,234	1,258
Total Common Equity	6,610	6,535	6,457	6,350	8,882	8,757	8,563	8,401	8,188	1,234	1,258
Common Stock	10,907	10,932	10,949	10,953	13,623	13,560	13,544	13,547	13,526	2,283	2,319
Retained Earnings	-	-	-	-	-4,780	-	-	-	-5,345	-1,049	-1,062
Accumulated Other Comprehensive Income / (Loss)	19	31	37	19	39	42	-12	29	6.93	-0.02	0.38

This table displays calculated financial ratios and metrics derived from Healthpeak Properties' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.04%	13.96%	-7.46%	-39.63%	9.97%	39.48%	21.85%	8.63%	4.90%	22.18%
EBITDA Growth	-12.90%	29.98%	-25.31%	-4.12%	23.41%	-24.25%	34.86%	4.50%	10.63%	14.53%
EBIT Growth	-56.59%	115.46%	-68.74%	-50.44%	83.56%	-192.51%	344.16%	9.18%	29.04%	-84.15%
NOPAT Growth	-53.55%	98.55%	-68.25%	-50.34%	88.28%	-193.61%	339.98%	7.41%	31.83%	-84.87%
Net Income Growth	-158.34%	217.11%	-33.96%	154.00%	-94.41%	613.03%	22.81%	-1.81%	-35.18%	-20.15%
EPS Growth	-158.34%	210.74%	-34.33%	154.55%	-95.98%	755.56%	20.78%	-1.08%	-39.13%	-35.71%
Operating Cash Flow Growth	-2.12%	-0.66%	-30.23%	0.20%	-0.31%	-10.36%	4.85%	13.21%	6.22%	11.95%
Free Cash Flow Firm Growth	102.89%	23,686.22%	-70.77%	-17.27%	-136.11%	-101.55%	147.04%	-160.44%	171.89%	-1,947.45%
Invested Capital Growth	0.47%	-27.31%	-10.94%	-10.35%	4.88%	7.70%	-2.41%	3.53%	0.11%	28.78%
Revenue Q/Q Growth	6.07%	42.21%	-4.07%	-45.70%	15.31%	84.44%	4.14%	1.53%	1.32%	5.52%
EBITDA Q/Q Growth	445.54%	-2.68%	-20.04%	-5.75%	45.38%	-19.01%	7.31%	-1.67%	6.78%	6.58%
EBIT Q/Q Growth	129.40%	-10.10%	-65.49%	-44.10%	168.54%	-821.84%	25.11%	-7.10%	26.48%	-43.95%
NOPAT Q/Q Growth	145.02%	-11.65%	-66.10%	-44.47%	170.60%	-851.75%	23.31%	-7.29%	31.12%	-43.75%
Net Income Q/Q Growth	-320.48%	4,101.79%	-22.00%	492.53%	-92.91%	31.62%	-18.28%	-4.05%	23.91%	-19.49%
EPS Q/Q Growth	-320.48%	2,014.29%	-22.12%	522.22%	-94.67%	30.51%	-18.42%	-4.17%	27.27%	-23.40%
Operating Cash Flow Q/Q Growth	-0.90%	-10.27%	-0.74%	0.79%	0.20%	0.16%	0.66%	-1.85%	2.61%	5.13%
Free Cash Flow Firm Q/Q Growth	101.53%	328.45%	-76.60%	50.77%	34.25%	-59.58%	-52.84%	54.64%	9.71%	2.69%
Invested Capital Q/Q Growth	-3.66%	-26.18%	1.16%	-2.88%	-3.46%	-1.02%	3.41%	0.50%	0.76%	-0.18%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	44.13%	50.33%	40.62%	64.52%	72.41%	39.32%	43.52%	41.86%	44.15%	41.39%
EBIT Margin	7.78%	14.71%	4.97%	4.08%	6.81%	-4.52%	9.05%	9.10%	11.19%	1.45%
Profit (Net Income) Margin	-37.40%	38.44%	27.43%	115.42%	5.87%	30.02%	30.26%	27.35%	16.90%	11.05%
Tax Burden Percent	-400.98%	174.23%	102.98%	128.01%	34.06%	196.73%	409.71%	101.83%	106.29%	97.85%
Interest Burden Percent	119.87%	149.94%	536.01%	2,209.92%	253.13%	-337.81%	81.59%	295.21%	142.08%	777.64%
Effective Tax Rate	-7.20%	1.22%	-0.32%	-0.52%	-3.11%	-4.33%	-2.54%	-0.87%	-3.05%	1.59%
Return on Invested Capital (ROIC)	0.59%	1.35%	0.54%	0.30%	0.58%	-0.51%	1.20%	1.28%	1.66%	0.22%
ROIC Less NNEP Spread (ROIC-NNEP)	-5.84%	5.28%	4.59%	15.70%	0.38%	7.55%	7.05%	6.70%	3.25%	3.20%
Return on Net Nonoperating Assets (RNNOA)	-5.86%	6.81%	6.79%	17.43%	0.33%	6.62%	6.06%	5.88%	3.05%	3.13%
Return on Equity (ROE)	-5.27%	8.16%	7.33%	17.73%	0.91%	6.11%	7.26%	7.16%	4.71%	3.34%
Cash Return on Invested Capital (CROIC)	0.12%	32.97%	12.11%	11.22%	-4.18%	-7.93%	3.64%	-2.19%	1.55%	-24.94%
Operating Return on Assets (OROA)	0.53%	1.32%	0.51%	0.28%	0.52%	-0.43%	1.01%	1.11%	1.41%	0.20%
Return on Assets (ROA)	-2.55%	3.44%	2.83%	8.01%	0.45%	2.86%	3.37%	3.33%	2.13%	1.50%
Return on Common Equity (ROCE)	-5.10%	7.74%	6.89%	16.47%	0.83%	5.59%	6.63%	6.53%	4.31%	3.09%
Return on Equity Simple (ROE_SIMPLE)	-5.85%	11.54%	7.97%	18.06%	0.99%	6.36%	8.07%	7.76%	5.27%	3.18%
Net Operating Profit after Tax (NOPAT)	122	242	77	38	72	-67	161	173	228	35
NOPAT Margin	8.34%	14.53%	4.99%	4.10%	7.02%	-4.71%	9.28%	9.18%	11.53%	1.43%
Net Nonoperating Expense Percent (NNEP)	6.43%	-3.93%	-4.05%	-15.40%	0.20%	-8.06%	-5.85%	-5.42%	-1.59%	-2.99%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	92.22%	85.29%	95.03%	95.92%	93.19%	104.52%	90.95%	90.90%	88.81%	98.55%
Earnings before Interest and Taxes (EBIT)	114	245	77	38	70	-64	157	172	222	35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	645	838	626	600	741	561	756	790	874	1,002
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.18	1.80	1.60	1.62	2.16	1.96	2.51	1.77	1.58	1.66
Price to Tangible Book Value (P/TBV)	1.26	1.98	1.73	1.71	2.25	2.12	2.72	1.89	1.66	1.84
Price to Revenue (P/Rev)	7.55	6.01	5.50	10.37	12.83	9.24	9.39	6.25	5.07	5.77
Price to Earnings (P/E)	0.00	15.98	20.51	9.11	298.30	32.05	32.50	23.70	32.99	57.60
Dividend Yield	9.53%	9.96%	8.20%	7.21%	5.58%	6.05%	3.96%	5.47%	6.54%	6.01%
Earnings Yield	0.00%	6.26%	4.88%	10.97%	0.34%	3.12%	3.08%	4.22%	3.03%	1.74%
Enterprise Value to Invested Capital (EV/IC)	1.06	1.29	1.23	1.29	1.55	1.46	1.72	1.36	1.25	1.30
Enterprise Value to Revenue (EV/Rev)	15.14	11.69	10.75	16.82	19.18	14.00	13.18	9.96	8.74	9.57
Enterprise Value to EBITDA (EV/EBITDA)	34.30	23.22	26.46	26.07	26.48	35.61	30.29	23.79	19.80	23.11
Enterprise Value to EBIT (EV/EBIT)	194.53	79.43	216.31	412.22	281.56	0.00	145.64	109.45	78.13	659.00
Enterprise Value to NOPAT (EV/NOPAT)	181.47	80.41	215.61	410.07	273.08	0.00	142.03	108.50	75.82	669.66
Enterprise Value to Operating Cash Flow (EV/OCF)	18.10	16.03	19.55	18.43	23.18	26.34	28.81	20.89	18.11	21.62
Enterprise Value to Free Cash Flow (EV/FCFF)	887.61	3.28	9.56	10.92	0.00	0.00	46.71	0.00	81.25	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.14	1.55	1.41	0.85	0.90	0.86	0.86	0.89	0.99	0.96
Long-Term Debt to Equity	1.13	1.53	1.39	0.84	0.89	0.86	0.70	0.75	0.89	0.95
Financial Leverage	1.00	1.29	1.48	1.11	0.88	0.88	0.86	0.88	0.94	0.98
Leverage Ratio	2.06	2.37	2.59	2.21	2.03	2.14	2.15	2.15	2.21	2.23
Compound Leverage Factor	2.47	3.56	13.87	48.93	5.14	-7.22	1.76	6.35	3.15	17.34
Debt to Total Capital	53.18%	60.73%	58.48%	46.09%	47.37%	46.15%	46.33%	47.13%	49.82%	49.04%
Short-Term Debt to Total Capital	0.45%	0.61%	0.70%	0.75%	0.73%	0.00%	8.76%	7.22%	5.22%	0.84%
Long-Term Debt to Total Capital	52.72%	60.12%	57.78%	45.34%	46.64%	46.15%	37.58%	39.91%	44.61%	48.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.93%	2.60%	2.18%	4.70%	4.60%	4.50%	4.74%	4.60%	4.16%	3.69%
Common Equity to Total Capital	44.89%	36.66%	39.34%	49.21%	48.03%	49.35%	48.93%	48.27%	46.01%	47.27%
Debt to EBITDA	17.17	10.97	12.59	9.28	8.11	11.23	8.16	8.22	7.86	8.70
Net Debt to EBITDA	16.57	10.80	12.46	9.05	7.98	11.03	7.88	8.06	7.67	8.52
Long-Term Debt to EBITDA	17.02	10.86	12.44	9.13	7.98	11.23	6.61	6.96	7.04	8.55
Debt to NOPAT	90.83	37.98	102.59	145.97	83.57	-93.68	38.24	37.50	30.10	252.14
Net Debt to NOPAT	87.66	37.41	101.52	142.30	82.27	-92.02	36.93	36.77	29.36	246.81
Long-Term Debt to NOPAT	90.05	37.60	101.36	143.59	82.28	-93.68	31.02	31.75	26.95	247.80
Noncontrolling Interest Sharing Ratio	3.20%	5.08%	5.96%	7.12%	8.73%	8.53%	8.59%	8.76%	8.50%	7.70%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	25	5,926	1,732	1,433	-517	-1,043	491	-297	213	-3,938
Operating Cash Flow to CapEx	10,977.68%	0.00%	734.90%	799.21%	777.33%	805.80%	713.35%	829.66%	841.79%	924.56%
Free Cash Flow to Firm to Interest Expense	0.05	12.76	5.63	5.48	-2.38	-4.78	3.11	-1.71	1.06	-14.04
Operating Cash Flow to Interest Expense	2.55	2.61	2.75	3.25	3.89	3.47	5.03	5.21	4.77	3.82
Operating Cash Flow Less CapEx to Interest Expense	2.53	3.81	2.38	2.84	3.39	3.04	4.33	4.58	4.21	3.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.09	0.10	0.07	0.08	0.10	0.11	0.12	0.13	0.14
Fixed Asset Turnover	0.13	0.14	0.14	0.09	0.11	0.15	0.15	0.15	0.15	0.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	20,815	15,131	13,475	12,080	12,670	13,645	13,316	13,786	13,801	17,774
Invested Capital Turnover	0.07	0.09	0.11	0.07	0.08	0.11	0.13	0.14	0.14	0.15
Increase / (Decrease) in Invested Capital	97	-5,685	-1,655	-1,395	589	976	-329	470	15	3,973
Enterprise Value (EV)	22,115	19,456	16,562	15,642	19,612	19,976	22,914	18,802	17,319	23,149
Market Capitalization	11,030	10,010	8,470	9,646	13,121	13,176	16,325	11,798	10,037	13,961
Book Value per Share	$20.09	$11.85	$11.30	$12.65	$12.29	$12.51	$12.09	$12.38	$11.61	$12.01
Tangible Book Value per Share	$18.83	$10.83	$10.43	$12.00	$11.77	$11.54	$11.12	$11.60	$11.03	$10.84
Total Capital	20,815	15,131	13,475	12,080	12,670	13,645	13,316	13,786	13,801	17,774
Total Debt	11,069	9,189	7,880	5,568	6,002	6,298	6,170	6,498	6,876	8,716
Total Long-Term Debt	10,975	9,097	7,786	5,477	5,909	6,298	5,004	5,502	6,156	8,566
Net Debt	10,682	9,053	7,798	5,428	5,908	6,187	5,958	6,371	6,707	8,532
Capital Expenditures (CapEx)	11	-556	115	106	109	94	111	109	114	116
Net Nonoperating Expense (NNE)	668	-398	-346	-1,035	12	-495	-365	-343	-106	-233
Net Nonoperating Obligations (NNO)	11,069	9,189	7,880	5,568	6,002	6,298	6,170	6,498	6,876	8,716
Total Depreciation and Amortization (D&A)	531	593	549	562	671	625	599	619	653	966
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.11)	$1.34	$0.88	$2.25	$0.09	$0.77	$0.93	$0.92	$0.56	$0.36
Adjusted Weighted Average Basic Shares Outstanding	506.09M	467.20M	468.76M	470.55M	486.26M	530.56M	538.93M	538.81M	547.01M	675.68M
Adjusted Diluted Earnings per Share	($1.11)	$1.34	$0.88	$2.24	$0.09	$0.77	$0.93	$0.92	$0.56	$0.36
Adjusted Weighted Average Diluted Shares Outstanding	506.09M	467.40M	468.94M	475.39M	489.34M	531.06M	539.24M	539.15M	547.28M	676.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.09	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	509.08M	468.18M	469.44M	477.77M	505.41M	538.69M	539.30M	546.78M	547.17M	699.56M
Normalized Net Operating Profit after Tax (NOPAT)	175	252	176	35	63	-2.23	128	129	164	188
Normalized NOPAT Margin	11.95%	15.12%	11.40%	3.76%	6.11%	-0.16%	7.34%	6.81%	8.26%	7.76%
Pre Tax Income Margin	9.33%	22.06%	26.64%	90.17%	17.24%	15.26%	7.39%	26.86%	15.90%	11.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.24	0.53	0.25	0.15	0.32	-0.30	1.00	0.99	1.11	0.13
NOPAT to Interest Expense	0.25	0.52	0.25	0.15	0.33	-0.31	1.02	1.00	1.14	0.12
EBIT Less CapEx to Interest Expense	0.21	1.73	-0.13	-0.26	-0.18	-0.73	0.29	0.37	0.54	-0.29
NOPAT Less CapEx to Interest Expense	0.23	1.72	-0.12	-0.26	-0.17	-0.74	0.32	0.37	0.57	-0.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-191.55%	153.07%	164.43%	64.92%	1,198.99%	183.79%	123.61%	125.49%	196.27%	297.33%
Augmented Payout Ratio	-193.14%	154.43%	165.57%	65.24%	1,207.38%	186.25%	126.05%	138.62%	198.22%	368.67%

This table displays calculated financial ratios and metrics derived from Healthpeak Properties' official financial filings.

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	7/31/2024	10/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.67%	4.26%	6.17%	5.43%	14.22%	25.03%	23.84%	25.28%	15.49%	15.28%	18.66%
EBITDA Growth	-0.12%	2.92%	10.99%	33.49%	-34.52%	32.68%	28.67%	27.92%	123.25%	47.41%	48.86%
EBIT Growth	-1.75%	-13.15%	21.41%	422.20%	-217.04%	-38.57%	-46.55%	-47.99%	201.93%	47.33%	46.80%
NOPAT Growth	-0.93%	-15.85%	18.71%	484.97%	-145.89%	-38.36%	-46.98%	-69.59%	350.60%	47.58%	46.23%
Net Income Growth	78.53%	-22.26%	-80.82%	597.97%	-91.69%	171.74%	35.08%	-85.85%	347.92%	60.10%	67.05%
EPS Growth	69.23%	-30.77%	-81.54%	1,200.00%	-95.45%	133.33%	0.00%	-84.62%	500.00%	61.76%	70.00%
Operating Cash Flow Growth	-10.43%	16.57%	3.95%	11.74%	-12.28%	6.17%	25.64%	22.61%	83.16%	74.54%	340.88%
Free Cash Flow Firm Growth	1.86%	73.08%	110.84%	111.67%	-1,812.59%	-1,709.83%	-4,882.92%	-7,493.81%	114.75%	76.50%	109.12%
Invested Capital Growth	2.21%	2.12%	-0.15%	0.11%	34.20%	31.60%	29.99%	28.78%	-3.46%	-27.29%	-38.81%
Revenue Q/Q Growth	0.56%	3.90%	1.89%	-0.96%	8.94%	13.73%	0.92%	0.19%	0.43%	2.84%	5.00%
EBITDA Q/Q Growth	24.81%	5.83%	3.63%	-2.48%	-38.78%	114.45%	0.50%	-3.05%	6.84%	35.70%	32.76%
EBIT Q/Q Growth	360.77%	-5.68%	37.88%	-12.85%	-203.27%	149.51%	19.96%	-15.20%	102.39%	35.64%	31.62%
NOPAT Q/Q Growth	330.09%	-7.43%	39.17%	5.58%	-133.74%	224.34%	19.70%	-39.45%	178.05%	36.06%	30.99%
Net Income Q/Q Growth	1,145.20%	-58.22%	22.17%	9.82%	-85.18%	1,266.34%	-39.27%	-88.49%	369.12%	48.24%	50.85%
EPS Q/Q Growth	2,100.00%	-59.09%	33.33%	8.33%	-92.31%	2,000.00%	-42.86%	-83.33%	200.00%	50.00%	53.85%
Operating Cash Flow Q/Q Growth	-15.96%	71.24%	-14.96%	-8.69%	-34.03%	107.26%	0.63%	-10.90%	-1.45%	-130.45%	545.25%
Free Cash Flow Firm Q/Q Growth	46.34%	3.37%	135.86%	-37.25%	-8,895.93%	8.56%	5.24%	3.00%	117.55%	69.26%	127.49%
Invested Capital Q/Q Growth	-0.79%	0.12%	0.02%	0.76%	33.00%	-1.82%	-1.20%	-0.18%	-0.30%	21.71%	-17.75%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-	-	-	-	-	-	-	-	-	81.71%	82.82%
EBITDA Margin	43.33%	44.14%	44.89%	44.20%	24.84%	46.84%	46.64%	45.14%	48.02%	-26.52%	-16.98%
Operating Margin	-	-	-	-	-	-	-	-	-	-26.22%	-17.23%
EBIT Margin	10.60%	9.62%	13.02%	11.46%	-10.86%	4.73%	5.62%	4.76%	9.59%	-26.38%	-17.18%
Profit (Net Income) Margin	28.16%	11.32%	13.58%	15.05%	2.05%	24.61%	14.81%	1.70%	7.94%	-16.02%	-7.50%
Tax Burden Percent	101.14%	102.92%	101.95%	125.67%	49.68%	98.28%	94.14%	-329.99%	92.21%	102.52%	104.93%
Interest Burden Percent	262.61%	114.32%	102.25%	104.53%	-37.96%	529.54%	279.83%	-10.83%	89.86%	59.26%	41.62%
Effective Tax Rate	0.23%	2.08%	1.17%	-19.74%	60.88%	1.76%	1.97%	0.00%	3.83%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.49%	1.34%	1.84%	1.97%	-0.54%	0.64%	0.80%	0.51%	1.28%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	2.80%	1.48%	1.89%	2.07%	-0.09%	2.27%	1.57%	0.38%	1.19%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	2.51%	1.37%	1.77%	1.95%	-0.08%	2.08%	1.47%	0.37%	1.14%	0.00%	0.00%
Return on Equity (ROE)	4.00%	2.71%	3.60%	3.92%	-0.63%	2.72%	2.27%	0.88%	2.42%	-12.29%	-9.98%
Cash Return on Invested Capital (CROIC)	-0.92%	-0.88%	1.42%	1.55%	-28.52%	-26.71%	-25.69%	-24.94%	4.40%	0.00%	0.00%
Operating Return on Assets (OROA)	1.31%	1.20%	1.63%	1.44%	-1.23%	0.57%	0.72%	0.65%	1.19%	-10.13%	-6.86%
Return on Assets (ROA)	3.47%	1.41%	1.70%	1.89%	0.23%	2.99%	1.91%	0.23%	0.99%	-6.15%	-3.00%
Return on Common Equity (ROCE)	3.65%	2.47%	3.29%	3.59%	-0.58%	2.51%	2.10%	0.81%	2.24%	-12.29%	-9.98%
Return on Equity Simple (ROE_SIMPLE)	8.71%	8.56%	4.18%	0.00%	2.38%	3.52%	3.88%	0.00%	3.74%	-12.05%	-9.72%
Net Operating Profit after Tax (NOPAT)	51	47	65	69	-23	29	35	21	58	-30	-21
NOPAT Margin	10.58%	9.42%	12.87%	13.72%	-4.25%	4.65%	5.51%	3.33%	9.22%	-18.35%	-12.06%
Net Nonoperating Expense Percent (NNEP)	-1.31%	-0.14%	-0.05%	-0.10%	-0.45%	-1.63%	-0.76%	0.13%	0.09%	0.30%	0.61%
Cost of Revenue to Revenue	-	-	-	-	-	-	-	-	-	18.29%	17.18%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.57%	19.43%
R&D to Revenue	-	-	-	-	-	-	-	-	-	33.29%	30.78%
Operating Expenses to Revenue	89.40%	90.38%	86.98%	88.54%	110.86%	95.27%	94.38%	95.24%	90.41%	107.93%	100.05%
Earnings before Interest and Taxes (EBIT)	51	48	66	57	-59	29	35	30	60	-44	-30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	207	219	227	221	136	291	292	283	303	-44	-29
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.61	1.51	1.42	1.58	1.09	1.51	1.81	1.66	1.72	5.50	5.46
Price to Tangible Book Value (P/TBV)	1.71	1.60	1.49	1.66	1.25	1.72	2.03	1.84	1.89	5.60	5.56
Price to Revenue (P/Rev)	5.58	5.13	4.68	5.07	4.72	6.08	6.77	5.77	5.62	10.81	10.49
Price to Earnings (P/E)	19.48	18.64	38.07	32.99	50.09	46.01	50.31	57.60	50.55	0.00	0.00
Dividend Yield	6.17%	6.65%	7.18%	6.54%	6.79%	6.39%	5.40%	6.01%	5.99%	0.00%	0.00%
Earnings Yield	5.13%	5.36%	2.63%	3.03%	2.00%	2.17%	1.99%	1.74%	1.98%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.29	1.23	1.19	1.25	1.03	1.24	1.38	1.30	1.32	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	9.23	8.76	8.32	8.74	9.27	10.27	10.70	9.57	9.37	8.72	8.43
Enterprise Value to EBITDA (EV/EBITDA)	22.25	21.18	19.87	19.80	23.64	25.51	26.11	23.11	20.08	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	102.90	103.09	92.84	78.13	169.91	239.11	391.47	659.00	151.54	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	102.02	102.52	93.39	75.82	173.11	243.40	399.21	669.66	148.01	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	19.98	18.29	17.46	18.11	20.31	23.41	24.10	21.62	19.59	142.16	81.19
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	83.74	81.25	0.00	0.00	0.00	0.00	29.56	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.89	0.92	0.95	0.99	0.91	0.91	0.93	0.96	1.00	0.00	0.00
Long-Term Debt to Equity	0.82	0.88	0.89	0.89	0.89	0.91	0.93	0.95	0.99	0.00	0.00
Financial Leverage	0.90	0.92	0.94	0.94	0.90	0.92	0.94	0.98	0.96	-1.06	-1.06
Leverage Ratio	2.16	2.20	2.21	2.21	2.15	2.16	2.19	2.23	2.19	1.35	1.34
Compound Leverage Factor	5.68	2.51	2.26	2.31	-0.82	11.45	6.12	-0.24	1.97	0.80	0.56
Debt to Total Capital	47.19%	47.97%	48.66%	49.82%	47.70%	47.74%	48.21%	49.04%	50.09%	0.00%	0.00%
Short-Term Debt to Total Capital	4.07%	2.40%	3.10%	5.22%	1.00%	0.14%	0.00%	0.84%	0.93%	0.00%	0.00%
Long-Term Debt to Total Capital	43.12%	45.56%	45.56%	44.61%	46.70%	47.60%	48.21%	48.20%	49.17%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.49%	4.31%	4.20%	4.16%	3.91%	3.67%	3.70%	3.69%	3.70%	0.00%	0.00%
Common Equity to Total Capital	48.33%	47.72%	47.14%	46.01%	48.39%	48.59%	48.09%	47.27%	46.21%	100.00%	100.00%
Debt to EBITDA	8.17	8.25	8.14	7.86	10.90	9.84	9.13	8.70	7.60	0.00	0.00
Net Debt to EBITDA	8.02	8.05	8.00	7.67	10.71	9.65	8.88	8.52	7.48	0.00	0.00
Long-Term Debt to EBITDA	7.46	7.83	7.62	7.04	10.68	9.81	9.13	8.55	7.46	0.00	0.00
Debt to NOPAT	37.44	39.92	38.25	30.10	79.83	93.83	139.67	252.14	56.00	0.00	0.00
Net Debt to NOPAT	36.76	38.94	37.60	29.36	78.39	92.09	135.73	246.81	55.13	0.00	0.00
Long-Term Debt to NOPAT	34.22	37.92	35.82	26.95	78.16	93.56	139.67	247.80	54.97	0.00	0.00
Altman Z-Score	-	-	-	-	-	-	-	-	-	9.37	9.73
Noncontrolling Interest Sharing Ratio	8.77%	8.82%	8.72%	8.50%	7.92%	7.57%	7.60%	7.70%	7.45%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	-	-	-	-	-	-	-	-	-	3.71	3.79
Quick Ratio	-	-	-	-	-	-	-	-	-	3.52	3.60
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-246	-238	85	53	-4,701	-4,299	-4,074	-3,952	693	-14	3.89
Operating Cash Flow to CapEx	763.18%	1,531.66%	1,053.88%	488.57%	870.95%	885.27%	1,353.53%	726.26%	1,207.77%	-325.81%	1,562.94%
Free Cash Flow to Firm to Interest Expense	-5.12	-4.84	1.69	1.01	-77.18	-57.38	-54.97	-56.04	9.54	0.00	0.00
Operating Cash Flow to Interest Expense	3.63	6.07	5.01	4.38	2.50	4.22	4.29	4.02	3.84	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	3.15	5.67	4.54	3.48	2.22	3.74	3.98	3.47	3.53	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.12	0.13	0.13	0.11	0.12	0.13	0.14	0.12	0.38	0.40
Accounts Receivable Turnover	-	-	-	-	-	-	-	-	-	4.65	5.51
Inventory Turnover	-	-	-	-	-	-	-	-	-	0.00	0.00
Fixed Asset Turnover	0.15	0.15	0.15	0.15	0.14	0.15	0.16	0.17	0.15	0.00	0.00
Accounts Payable Turnover	-	-	-	-	-	-	-	-	-	10.99	8.64
Days Sales Outstanding (DSO)	-	-	-	-	-	-	-	-	-	78.55	66.19
Days Inventory Outstanding (DIO)	-	-	-	-	-	-	-	-	-	0.00	0.00
Days Payable Outstanding (DPO)	-	-	-	-	-	-	-	-	-	33.20	42.27
Cash Conversion Cycle (CCC)	-	-	-	-	-	-	-	-	-	45.35	23.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,678	13,694	13,697	13,801	18,355	18,022	17,805	17,774	17,720	-75	-89
Invested Capital Turnover	0.14	0.14	0.14	0.14	0.13	0.14	0.15	0.15	0.14	-9.33	-8.58
Increase / (Decrease) in Invested Capital	296	284	-20	15	4,678	4,327	4,108	3,973	-635	-16	-25
Enterprise Value (EV)	17,584	16,870	16,271	17,319	18,987	22,316	24,534	23,149	23,461	5,476	5,524
Market Capitalization	10,634	9,871	9,145	10,037	9,671	13,211	15,534	13,961	14,068	6,785	6,870
Book Value per Share	$12.09	$11.95	$11.80	$11.61	$14.78	$12.44	$12.25	$12.01	$11.70	$6.14	$6.20
Tangible Book Value per Share	$11.37	$11.28	$11.18	$11.03	$12.85	$10.91	$10.96	$10.84	$10.64	$6.03	$6.09
Total Capital	13,678	13,694	13,697	13,801	18,355	18,022	17,805	17,774	17,720	1,234	1,258
Total Debt	6,454	6,569	6,664	6,876	8,756	8,603	8,583	8,716	8,877	0.00	0.00
Total Long-Term Debt	5,898	6,240	6,240	6,156	8,573	8,578	8,583	8,566	8,713	0.00	0.00
Net Debt	6,337	6,408	6,550	6,707	8,599	8,444	8,341	8,532	8,738	-1,309	-1,346
Capital Expenditures (CapEx)	23	19	24	47	18	36	24	39	23	2.63	2.44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-	-	-	-	-	-	-	-	-	-188	-204
Debt-free Net Working Capital (DFNWC)	-	-	-	-	-	-	-	-	-	1,122	1,143
Net Working Capital (NWC)	-	-	-	-	-	-	-	-	-	1,122	1,143
Net Nonoperating Expense (NNE)	-84	-9.43	-3.56	-6.67	-34	-124	-58	10	8.04	-3.85	-7.91
Net Nonoperating Obligations (NNO)	6,454	6,569	6,664	6,876	8,756	8,603	8,583	8,716	8,877	-1,309	-1,346
Total Depreciation and Amortization (D&A)	156	171	161	164	195	261	257	253	242	-0.23	0.34
Debt-free, Cash-free Net Working Capital to Revenue	-	-	-	-	-	-	-	-	-	-29.90%	-31.10%
Debt-free Net Working Capital to Revenue	-	-	-	-	-	-	-	-	-	178.71%	174.49%
Net Working Capital to Revenue	-	-	-	-	-	-	-	-	-	178.71%	174.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.22	$0.09	$0.12	$0.13	$0.01	$0.21	$0.12	$0.02	$0.06	($0.13)	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	546.84M	547.03M	547.06M	547.01M	600.90M	702.38M	699.35M	675.68M	699.07M	201.87M	203.53M
Adjusted Diluted Earnings per Share	$0.22	$0.09	$0.12	$0.13	$0.01	$0.21	$0.12	$0.02	$0.06	($0.13)	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	547.11M	547.29M	547.33M	547.28M	601.19M	703.27M	700.15M	676.23M	699.12M	201.87M	203.53M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	547.00M	547.05M	547.07M	547.17M	703.78M	699.29M	699.44M	699.56M	694.73M	202.89M	204.45M
Normalized Net Operating Profit after Tax (NOPAT)	51	50	65	46	42	36	42	36	60	-30	-21
Normalized NOPAT Margin	10.62%	10.06%	12.77%	9.28%	7.62%	5.79%	6.70%	5.81%	9.52%	-18.35%	-12.06%
Pre Tax Income Margin	27.84%	11.00%	13.32%	11.98%	4.12%	25.04%	15.73%	-0.52%	8.61%	-15.63%	-7.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.06	0.97	1.30	1.09	-0.97	0.39	0.48	0.42	0.83	0.00	0.00
NOPAT to Interest Expense	1.05	0.95	1.29	1.30	-0.38	0.38	0.47	0.30	0.80	0.00	0.00
EBIT Less CapEx to Interest Expense	0.58	0.58	0.83	0.19	-1.26	-0.09	0.16	-0.13	0.51	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.58	0.56	0.81	0.41	-0.67	-0.09	0.15	-0.26	0.48	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	112.85%	116.48%	242.08%	196.27%	310.39%	228.36%	225.60%	297.33%	275.67%	0.00%	0.00%
Augmented Payout Ratio	123.79%	127.69%	244.56%	198.22%	358.66%	283.66%	282.94%	368.67%	312.78%	0.00%	0.00%

Frequently Asked Questions About Healthpeak Properties' Financials

When does Healthpeak Properties's fiscal year end?

According to the most recent income statement we have on file, Healthpeak Properties' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Healthpeak Properties' net income changed over the last 9 years?

Healthpeak Properties' net income appears to be on an upward trend, with a most recent value of $267.30 million in 2024, falling from -$546.42 million in 2015. The previous period was $334.76 million in 2023.

How has Healthpeak Properties revenue changed over the last 9 years?

Over the last 9 years, Healthpeak Properties' total revenue changed from $1.46 billion in 2015 to $2.42 billion in 2024, a change of 65.7%.

How much debt does Healthpeak Properties have?

Healthpeak Properties' total liabilities were at $10.88 billion at the end of 2024, a 24.0% increase from 2023, and a 7.0% decrease since 2015.

How much cash does Healthpeak Properties have?

In the past 9 years, Healthpeak Properties' cash and equivalents has ranged from $44.23 million in 2020 to $340.44 million in 2015, and is currently $119.82 million as of their latest financial filing in 2024.

How has Healthpeak Properties' book value per share changed over the last 9 years?

Over the last 9 years, Healthpeak Properties' book value per share changed from 20.09 in 2015 to 12.01 in 2024, a change of -40.2%.

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This page (NYSE:PEAK) was last updated on 5/10/2025 by MarketBeat.com Staff

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Healthpeak Properties (PEAK) Financials

Frequently Asked Questions About Healthpeak Properties' Financials

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Healthpeak Properties (PEAK) Financials

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