HEALTHPEAK PROPERTIES INC (DOC) Stock Fundamental Analysis
NYSE:DOC - New York Stock Exchange, Inc. - US42250P1030 - REIT - Currency: USD
Overall DOC gets a fundamental rating of 4 out of 10. We evaluated DOC against 130 industry peers in the Diversified REITs industry. DOC has a medium profitability rating, but doesn't score so well on its financial health evaluation. DOC is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year DOC was profitable.
DOC had a positive operating cash flow in the past year.
Each year in the past 5 years DOC has been profitable.
DOC had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
DOC's Return On Assets of 1.40% is fine compared to the rest of the industry. DOC outperforms 62.02% of its industry peers.
Looking at the Return On Equity, with a value of 3.40%, DOC is in the better half of the industry, outperforming 62.02% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 2.16%, DOC is doing worse than 62.02% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for DOC is in line with the industry average of 3.16%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.4% | ||
| ROE | 3.4% | ||
| ROIC | 2.16% |
ROA(3y)2.1%
ROA(5y)2.44%
ROE(3y)5.05%
ROE(5y)5.78%
ROIC(3y)2.39%
ROIC(5y)2.05%
1.3 Margins
DOC has a better Profit Margin (9.95%) than 60.47% of its industry peers.
DOC's Profit Margin has improved in the last couple of years.
DOC has a Operating Margin of 18.01%. This is comparable to the rest of the industry: DOC outperforms 41.09% of its industry peers.
DOC's Operating Margin has declined in the last couple of years.
DOC's Gross Margin of 61.15% is on the low side compared to the rest of the industry. DOC is outperformed by 65.89% of its industry peers.
DOC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 18.01% | ||
| PM (TTM) | 9.95% | ||
| GM | 61.15% |
OM growth 3Y5.47%
OM growth 5Y-2.9%
PM growth 3Y-30.28%
PM growth 5Y20.4%
GM growth 3Y2.83%
GM growth 5Y-0.77%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so DOC is destroying value.
Compared to 1 year ago, DOC has more shares outstanding
DOC has more shares outstanding than it did 5 years ago.
The debt/assets ratio for DOC has remained at the same level compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.43, we must say that DOC is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of DOC (0.43) is comparable to the rest of the industry.
DOC has a debt to FCF ratio of 17.88. This is a negative value and a sign of low solvency as DOC would need 17.88 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 17.88, DOC belongs to the best of the industry, outperforming 80.62% of the companies in the same industry.
DOC has a Debt/Equity ratio of 1.08. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.08, DOC perfoms like the industry average, outperforming 54.26% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.08 | ||
| Debt/FCF | 17.88 | ||
| Altman-Z | 0.43 |
ROIC/WACC0.32
WACC6.66%
2.3 Liquidity
DOC has a Current Ratio of 0.10. This is a bad value and indicates that DOC is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.10, DOC is doing worse than 95.35% of the companies in the same industry.
A Quick Ratio of 0.10 indicates that DOC may have some problems paying its short term obligations.
The Quick ratio of DOC (0.10) is worse than 95.35% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.1 | ||
| Quick Ratio | 0.1 |
3. Growth
3.1 Past
DOC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.29%, which is quite good.
DOC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -2.64% yearly.
Looking at the last year, DOC shows a very strong growth in Revenue. The Revenue has grown by 23.65%.
Measured over the past years, DOC shows a quite strong growth in Revenue. The Revenue has been growing by 16.84% on average per year.
EPS 1Y (TTM)14.29%
EPS 3Y-2.7%
EPS 5Y-2.64%
EPS Q2Q%500%
Revenue 1Y (TTM)23.65%
Revenue growth 3Y12.51%
Revenue growth 5Y16.84%
Sales Q2Q%15.88%
3.2 Future
DOC is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -2.84% yearly.
Based on estimates for the next years, DOC will show a small growth in Revenue. The Revenue will grow by 4.24% on average per year.
EPS Next Y-28.58%
EPS Next 2Y-6.38%
EPS Next 3Y-7.08%
EPS Next 5Y-2.84%
Revenue Next Year4.12%
Revenue Next 2Y3.93%
Revenue Next 3Y3.81%
Revenue Next 5Y4.24%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 46.12 indicates a quite expensive valuation of DOC.
The rest of the industry has a similar Price/Earnings ratio as DOC.
Compared to an average S&P500 Price/Earnings ratio of 27.41, DOC is valued quite expensively.
DOC is valuated quite expensively with a Price/Forward Earnings ratio of 60.14.
The rest of the industry has a similar Price/Forward Earnings ratio as DOC.
DOC's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 35.19.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 46.12 | ||
| Fwd PE | 60.14 |
4.2 Price Multiples
DOC's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, DOC is valued a bit cheaper than 75.97% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 25.81 | ||
| EV/EBITDA | 13.43 |
4.3 Compensation for Growth
A cheap valuation may be justified as DOC's earnings are expected to decrease with -7.08% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-6.38%
EPS Next 3Y-7.08%
5. Dividend
5.1 Amount
DOC has a Yearly Dividend Yield of 6.58%, which is a nice return.
Compared to an average industry Dividend Yield of 6.44, DOC pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.35, DOC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.58% |
5.2 History
The dividend of DOC decreases each year by -2.76%.
DOC has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-2.76%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DOC pays out 303.32% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of DOC has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP303.32%
EPS Next 2Y-6.38%
EPS Next 3Y-7.08%
18.45
-0.09 (-0.49%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners97.71%
Inst Owner Change0%
Ins Owners0.22%
Ins Owner Change7.35%
Market Cap12.82B
Analysts80.83
Price Target22.78 (23.47%)
Short Float %2.99%
Short Ratio3.17
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.58% |
Yearly Dividend1.28
Dividend Growth(5Y)-2.76%
DP303.32%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-33.39%
Min EPS beat(2)-79.16%
Max EPS beat(2)12.38%
EPS beat(4)3
Avg EPS beat(4)35.07%
Min EPS beat(4)-79.16%
Max EPS beat(4)131.02%
EPS beat(8)5
Avg EPS beat(8)13.56%
EPS beat(12)8
Avg EPS beat(12)57.02%
EPS beat(16)10
Avg EPS beat(16)41.41%
Revenue beat(2)2
Avg Revenue beat(2)1.19%
Min Revenue beat(2)0.34%
Max Revenue beat(2)2.05%
Revenue beat(4)4
Avg Revenue beat(4)1.83%
Min Revenue beat(4)0.34%
Max Revenue beat(4)2.98%
Revenue beat(8)7
Avg Revenue beat(8)2.12%
Revenue beat(12)8
Avg Revenue beat(12)-4.71%
Revenue beat(16)12
Avg Revenue beat(16)16.58%
PT rev (1m)-3.18%
PT rev (3m)-8.97%
EPS NQ rev (1m)2.38%
EPS NQ rev (3m)16.21%
EPS NY rev (1m)5.57%
EPS NY rev (3m)11.94%
Revenue NQ rev (1m)0.05%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.04%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 46.12 | ||
| Fwd PE | 60.14 | ||
| P/S | 4.58 | ||
| P/FCF | 25.81 | ||
| P/OCF | 10.71 | ||
| P/B | 1.57 | ||
| P/tB | 1.72 | ||
| EV/EBITDA | 13.43 |
EPS(TTM)0.4
EY2.17%
EPS(NY)0.31
Fwd EY1.66%
FCF(TTM)0.71
FCFY3.87%
OCF(TTM)1.72
OCFY9.34%
SpS4.03
BVpS11.79
TBVpS10.71
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.4% | ||
| ROE | 3.4% | ||
| ROCE | 2.74% | ||
| ROIC | 2.16% | ||
| ROICexc | 2.17% | ||
| ROICexgc | 2.39% | ||
| OM | 18.01% | ||
| PM (TTM) | 9.95% | ||
| GM | 61.15% | ||
| FCFM | 17.75% |
ROA(3y)2.1%
ROA(5y)2.44%
ROE(3y)5.05%
ROE(5y)5.78%
ROIC(3y)2.39%
ROIC(5y)2.05%
ROICexc(3y)2.4%
ROICexc(5y)2.06%
ROICexgc(3y)2.61%
ROICexgc(5y)2.23%
ROCE(3y)3.02%
ROCE(5y)2.59%
ROICexcg growth 3Y12%
ROICexcg growth 5Y7.99%
ROICexc growth 3Y11.28%
ROICexc growth 5Y7.36%
OM growth 3Y5.47%
OM growth 5Y-2.9%
PM growth 3Y-30.28%
PM growth 5Y20.4%
GM growth 3Y2.83%
GM growth 5Y-0.77%
F-Score6
Asset Turnover0.14
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.08 | ||
| Debt/FCF | 17.88 | ||
| Debt/EBITDA | 5.51 | ||
| Cap/Depr | 63.33% | ||
| Cap/Sales | 25.06% | ||
| Interest Coverage | 1.96 | ||
| Cash Conversion | 74.36% | ||
| Profit Quality | 178.44% | ||
| Current Ratio | 0.1 | ||
| Quick Ratio | 0.1 | ||
| Altman-Z | 0.43 |
F-Score6
WACC6.66%
ROIC/WACC0.32
Cap/Depr(3y)101.04%
Cap/Depr(5y)178.11%
Cap/Sales(3y)35.69%
Cap/Sales(5y)67.36%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)14.29%
EPS 3Y-2.7%
EPS 5Y-2.64%
EPS Q2Q%500%
EPS Next Y-28.58%
EPS Next 2Y-6.38%
EPS Next 3Y-7.08%
EPS Next 5Y-2.84%
Revenue 1Y (TTM)23.65%
Revenue growth 3Y12.51%
Revenue growth 5Y16.84%
Sales Q2Q%15.88%
Revenue Next Year4.12%
Revenue Next 2Y3.93%
Revenue Next 3Y3.81%
Revenue Next 5Y4.24%
EBIT growth 1Y-11.56%
EBIT growth 3Y18.66%
EBIT growth 5Y13.45%
EBIT Next Year238.26%
EBIT Next 3Y54.8%
EBIT Next 5Y32.75%
FCF growth 1Y894.49%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y36.06%
OCF growth 3Y10.42%
OCF growth 5Y4.82%