HEALTHPEAK PROPERTIES INC (DOC) Stock Fundamental Analysis
USA - NYSE:DOC - US42250P1030 - REIT
18.08 USD
-0.06 (-0.33%)
18.11 USD
+0.03 (+0.17%)
DOC gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 130 industry peers in the Diversified REITs industry. There are concerns on the financial health of DOC while its profitability can be described as average. DOC does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year DOC was profitable.
DOC had a positive operating cash flow in the past year.
In the past 5 years DOC has always been profitable.
DOC had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
DOC has a Return On Assets (0.83%) which is in line with its industry peers.
DOC has a Return On Equity of 2.07%. This is comparable to the rest of the industry: DOC outperforms 52.71% of its industry peers.
Looking at the Return On Invested Capital, with a value of 2.07%, DOC is doing worse than 60.47% of the companies in the same industry.
DOC had an Average Return On Invested Capital over the past 3 years of 2.19%. This is in line with the industry average of 3.05%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.83% | ||
| ROE | 2.07% | ||
| ROIC | 2.07% |
ROA(3y)2.1%
ROA(5y)2.44%
ROE(3y)5.05%
ROE(5y)5.78%
ROIC(3y)2.19%
ROIC(5y)1.92%
1.3 Margins
DOC has a Profit Margin of 5.87%. This is comparable to the rest of the industry: DOC outperforms 54.26% of its industry peers.
In the last couple of years the Profit Margin of DOC has grown nicely.
DOC has a Operating Margin of 17.78%. This is comparable to the rest of the industry: DOC outperforms 42.64% of its industry peers.
In the last couple of years the Operating Margin of DOC has declined.
DOC's Gross Margin of 60.51% is on the low side compared to the rest of the industry. DOC is outperformed by 65.12% of its industry peers.
In the last couple of years the Gross Margin of DOC has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.78% | ||
| PM (TTM) | 5.87% | ||
| GM | 60.51% |
OM growth 3Y-2.63%
OM growth 5Y-7.45%
PM growth 3Y-30.28%
PM growth 5Y20.4%
GM growth 3Y0.52%
GM growth 5Y-2.11%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so DOC is destroying value.
The number of shares outstanding for DOC has been increased compared to 1 year ago.
The number of shares outstanding for DOC has been increased compared to 5 years ago.
The debt/assets ratio for DOC has remained at the same level compared to a year ago.
2.2 Solvency
DOC has an Altman-Z score of 0.43. This is a bad value and indicates that DOC is not financially healthy and even has some risk of bankruptcy.
DOC has a Altman-Z score of 0.43. This is comparable to the rest of the industry: DOC outperforms 44.96% of its industry peers.
The Debt to FCF ratio of DOC is 17.80, which is on the high side as it means it would take DOC, 17.80 years of fcf income to pay off all of its debts.
DOC has a better Debt to FCF ratio (17.80) than 79.07% of its industry peers.
DOC has a Debt/Equity ratio of 1.14. This is a high value indicating a heavy dependency on external financing.
DOC has a Debt to Equity ratio (1.14) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.14 | ||
| Debt/FCF | 17.8 | ||
| Altman-Z | 0.43 |
ROIC/WACC0.32
WACC6.43%
2.3 Liquidity
DOC has a Current Ratio of 0.19. This is a bad value and indicates that DOC is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of DOC (0.19) is worse than 91.47% of its industry peers.
DOC has a Quick Ratio of 0.19. This is a bad value and indicates that DOC is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.19, DOC is not doing good in the industry: 91.47% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 |
3. Growth
3.1 Past
The earnings per share for DOC have decreased strongly by -48.94% in the last year.
DOC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -2.64% yearly.
The Revenue has grown by 15.91% in the past year. This is quite good.
DOC shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.84% yearly.
EPS 1Y (TTM)-48.94%
EPS 3Y-2.7%
EPS 5Y-2.64%
EPS Q2Q%-76.19%
Revenue 1Y (TTM)15.91%
Revenue growth 3Y12.51%
Revenue growth 5Y16.84%
Sales Q2Q%-0.17%
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.
DOC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.98% yearly.
EPS Next Y-28.22%
EPS Next 2Y-6.18%
EPS Next 3Y-6.86%
EPS Next 5Y-2.84%
Revenue Next Year3.56%
Revenue Next 2Y3.5%
Revenue Next 3Y3.34%
Revenue Next 5Y3.98%
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
The Price/Earnings ratio is 75.33, which means the current valuation is very expensive for DOC.
DOC's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of DOC to the average of the S&P500 Index (27.30), we can say DOC is valued expensively.
With a Price/Forward Earnings ratio of 58.69, DOC can be considered very expensive at the moment.
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 22.73.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 75.33 | ||
| Fwd PE | 58.69 |
4.2 Price Multiples
61.24% of the companies in the same industry are more expensive than DOC, based on the Enterprise Value to EBITDA ratio.
72.09% of the companies in the same industry are more expensive than DOC, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.73 | ||
| EV/EBITDA | 13.57 |
4.3 Compensation for Growth
A cheap valuation may be justified as DOC's earnings are expected to decrease with -6.86% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-6.18%
EPS Next 3Y-6.86%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.73%, DOC is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.66, DOC pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.38, DOC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.73% |
5.2 History
The dividend of DOC decreases each year by -2.76%.
DOC has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-2.76%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
515.26% of the earnings are spent on dividend by DOC. This is not a sustainable payout ratio.
DOC's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP515.26%
EPS Next 2Y-6.18%
EPS Next 3Y-6.86%
18.08
-0.06 (-0.33%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners98.24%
Inst Owner Change-2.5%
Ins Owners0.22%
Ins Owner Change6.87%
Market Cap12.56B
Analysts78.26
Price Target21.57 (19.3%)
Short Float %2.56%
Short Ratio2.39
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.73% |
Yearly Dividend1.28
Dividend Growth(5Y)-2.76%
DP515.26%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-3.51%
Min EPS beat(2)-19.41%
Max EPS beat(2)12.38%
EPS beat(4)2
Avg EPS beat(4)-2.54%
Min EPS beat(4)-79.16%
Max EPS beat(4)76.02%
EPS beat(8)5
Avg EPS beat(8)13.23%
EPS beat(12)7
Avg EPS beat(12)53.56%
EPS beat(16)10
Avg EPS beat(16)40.84%
Revenue beat(2)1
Avg Revenue beat(2)0.84%
Min Revenue beat(2)-0.37%
Max Revenue beat(2)2.05%
Revenue beat(4)3
Avg Revenue beat(4)0.99%
Min Revenue beat(4)-0.37%
Max Revenue beat(4)2.05%
Revenue beat(8)6
Avg Revenue beat(8)1.97%
Revenue beat(12)7
Avg Revenue beat(12)-4.86%
Revenue beat(16)11
Avg Revenue beat(16)-3.43%
PT rev (1m)-4.21%
PT rev (3m)-8.34%
EPS NQ rev (1m)-6.82%
EPS NQ rev (3m)-6.29%
EPS NY rev (1m)0.51%
EPS NY rev (3m)6.1%
Revenue NQ rev (1m)-0.13%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)-0.43%
Revenue NY rev (3m)-0.53%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 75.33 | ||
| Fwd PE | 58.69 | ||
| P/S | 4.49 | ||
| P/FCF | 24.73 | ||
| P/OCF | 10.09 | ||
| P/B | 1.58 | ||
| P/tB | 1.73 | ||
| EV/EBITDA | 13.57 |
EPS(TTM)0.24
EY1.33%
EPS(NY)0.31
Fwd EY1.7%
FCF(TTM)0.73
FCFY4.04%
OCF(TTM)1.79
OCFY9.91%
SpS4.02
BVpS11.41
TBVpS10.43
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.83% | ||
| ROE | 2.07% | ||
| ROCE | 2.62% | ||
| ROIC | 2.07% | ||
| ROICexc | 2.08% | ||
| ROICexgc | 2.27% | ||
| OM | 17.78% | ||
| PM (TTM) | 5.87% | ||
| GM | 60.51% | ||
| FCFM | 18.17% |
ROA(3y)2.1%
ROA(5y)2.44%
ROE(3y)5.05%
ROE(5y)5.78%
ROIC(3y)2.19%
ROIC(5y)1.92%
ROICexc(3y)2.2%
ROICexc(5y)1.94%
ROICexgc(3y)2.39%
ROICexgc(5y)2.1%
ROCE(3y)2.77%
ROCE(5y)2.44%
ROICexcg growth 3Y3.4%
ROICexcg growth 5Y2.94%
ROICexc growth 3Y2.73%
ROICexc growth 5Y2.33%
OM growth 3Y-2.63%
OM growth 5Y-7.45%
PM growth 3Y-30.28%
PM growth 5Y20.4%
GM growth 3Y0.52%
GM growth 5Y-2.11%
F-Score6
Asset Turnover0.14
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.14 | ||
| Debt/FCF | 17.8 | ||
| Debt/EBITDA | 5.7 | ||
| Cap/Depr | 67.65% | ||
| Cap/Sales | 26.35% | ||
| Interest Coverage | 1.93 | ||
| Cash Conversion | 78.47% | ||
| Profit Quality | 309.77% | ||
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 | ||
| Altman-Z | 0.43 |
F-Score6
WACC6.43%
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)-48.94%
EPS 3Y-2.7%
EPS 5Y-2.64%
EPS Q2Q%-76.19%
EPS Next Y-28.22%
EPS Next 2Y-6.18%
EPS Next 3Y-6.86%
EPS Next 5Y-2.84%
Revenue 1Y (TTM)15.91%
Revenue growth 3Y12.51%
Revenue growth 5Y16.84%
Sales Q2Q%-0.17%
Revenue Next Year3.56%
Revenue Next 2Y3.5%
Revenue Next 3Y3.34%
Revenue Next 5Y3.98%
EBIT growth 1Y-14.85%
EBIT growth 3Y9.55%
EBIT growth 5Y8.14%
EBIT Next Year236.39%
EBIT Next 3Y54.57%
EBIT Next 5Y32.75%
FCF growth 1Y28322.5%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y34.95%
OCF growth 3Y10.42%
OCF growth 5Y4.82%