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. While DOC is still in line with the averages on profitability rating, there are concerns on its financial health. DOC is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
DOC had positive earnings in the past year.
DOC had a positive operating cash flow in the past year.
DOC had positive earnings in each of the past 5 years.
DOC had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
DOC has a better Return On Assets (1.22%) than 60.77% of its industry peers.
The Return On Equity of DOC (2.89%) is comparable to the rest of the industry.
DOC has a Return On Invested Capital (2.63%) which is comparable to the rest of the industry.
DOC had an Average Return On Invested Capital over the past 3 years of 2.39%. This is in line with the industry average of 3.17%.
The last Return On Invested Capital (2.63%) for DOC is above the 3 year average (2.39%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.22% | ||
| ROE | 2.89% | ||
| ROIC | 2.63% |
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's Profit Margin of 8.98% is in line compared to the rest of the industry. DOC outperforms 60.00% of its industry peers.
In the last couple of years the Profit Margin of DOC has grown nicely.
With a Operating Margin value of 21.71%, DOC perfoms like the industry average, outperforming 50.77% of the companies in the same industry.
DOC's Operating Margin has declined in the last couple of years.
DOC has a worse Gross Margin (64.46%) than 62.31% of its industry peers.
DOC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 21.71% | ||
| PM (TTM) | 8.98% | ||
| GM | 64.46% |
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), 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
Based on the Altman-Z score of 0.39, we must say that DOC is in the distress zone and has some risk of bankruptcy.
DOC has a Altman-Z score of 0.39. This is comparable to the rest of the industry: DOC outperforms 42.31% of its industry peers.
DOC has a debt to FCF ratio of 18.70. This is a negative value and a sign of low solvency as DOC would need 18.70 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 18.70, DOC is in the better half of the industry, outperforming 75.38% of the companies in the same industry.
DOC has a Debt/Equity ratio of 0.94. This is a neutral value indicating DOC is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.94, DOC is in line with its industry, outperforming 59.23% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.94 | ||
| Debt/FCF | 18.7 | ||
| Altman-Z | 0.39 |
ROIC/WACC0.4
WACC6.54%
2.3 Liquidity
DOC has a Current Ratio of 0.08. This is a bad value and indicates that DOC is not financially healthy enough and could expect problems in meeting its short term obligations.
DOC has a Current ratio of 0.08. This is amonst the worse of the industry: DOC underperforms 96.15% of its industry peers.
DOC has a Quick Ratio of 0.08. 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 Quick ratio, with a value of 0.08, DOC is doing worse than 96.15% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.08 | ||
| Quick Ratio | 0.08 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 128.57% over the past year.
Measured over the past years, DOC shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.64% on average per year.
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)128.57%
EPS 3Y-2.7%
EPS 5Y-2.64%
EPS Q2Q%4500%
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 -4.17% yearly.
Based on estimates for the next years, DOC will show a small growth in Revenue. The Revenue will grow by 4.12% on average per year.
EPS Next Y-36.19%
EPS Next 2Y-10.11%
EPS Next 3Y-5.76%
EPS Next 5Y-4.17%
Revenue Next Year4.08%
Revenue Next 2Y4.2%
Revenue Next 3Y4.04%
Revenue Next 5Y4.12%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 22.30 indicates a rather expensive valuation of DOC.
73.08% of the companies in the same industry are more expensive than DOC, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 28.88. DOC is valued slightly cheaper when compared to this.
A Price/Forward Earnings ratio of 63.08 indicates a quite expensive valuation of DOC.
DOC's Price/Forward Earnings is on the same level as the industry average.
DOC's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 21.20.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.3 | ||
| Fwd PE | 63.08 |
4.2 Price Multiples
DOC's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. DOC is cheaper than 61.54% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, DOC is valued a bit cheaper than 70.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.73 | ||
| EV/EBITDA | 12.78 |
4.3 Compensation for Growth
A cheap valuation may be justified as DOC's earnings are expected to decrease with -5.76% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-10.11%
EPS Next 3Y-5.76%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.87%, DOC is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 16.29, DOC pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.45, DOC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.87% |
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
327.90% 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.
DP327.9%
EPS Next 2Y-10.11%
EPS Next 3Y-5.76%
17.84
+0.08 (+0.45%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners94.75%
Inst Owner Change0%
Ins Owners0.28%
Ins Owner Change-1.87%
Market Cap12.46B
Analysts80.83
Price Target24.82 (39.13%)
Short Float %2.21%
Short Ratio2.88
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.87% |
Yearly Dividend1.28
Dividend Growth(5Y)-2.76%
DP327.9%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.57%
Min EPS beat(2)-79.16%
Max EPS beat(2)76.02%
EPS beat(4)2
Avg EPS beat(4)10.32%
Min EPS beat(4)-86.62%
Max EPS beat(4)131.02%
EPS beat(8)5
Avg EPS beat(8)31.06%
EPS beat(12)8
Avg EPS beat(12)58.38%
EPS beat(16)9
Avg EPS beat(16)40.26%
Revenue beat(2)2
Avg Revenue beat(2)1.14%
Min Revenue beat(2)0.34%
Max Revenue beat(2)1.94%
Revenue beat(4)4
Avg Revenue beat(4)3.28%
Min Revenue beat(4)0.34%
Max Revenue beat(4)7.87%
Revenue beat(8)6
Avg Revenue beat(8)-7.44%
Revenue beat(12)8
Avg Revenue beat(12)-4.82%
Revenue beat(16)12
Avg Revenue beat(16)35.62%
PT rev (1m)-1.35%
PT rev (3m)-3.69%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.85%
EPS NY rev (1m)0%
EPS NY rev (3m)1.53%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.27%
Revenue NY rev (1m)-0.28%
Revenue NY rev (3m)-1.75%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.3 | ||
| Fwd PE | 63.08 | ||
| P/S | 4.62 | ||
| P/FCF | 26.73 | ||
| P/OCF | 11.64 | ||
| P/B | 1.48 | ||
| P/tB | 1.64 | ||
| EV/EBITDA | 12.78 |
EPS(TTM)0.8
EY4.48%
EPS(NY)0.28
Fwd EY1.59%
FCF(TTM)0.67
FCFY3.74%
OCF(TTM)1.53
OCFY8.59%
SpS3.87
BVpS12.03
TBVpS10.86
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.22% | ||
| ROE | 2.89% | ||
| ROCE | 3.33% | ||
| ROIC | 2.63% | ||
| ROICexc | 2.65% | ||
| ROICexgc | 2.94% | ||
| OM | 21.71% | ||
| PM (TTM) | 8.98% | ||
| GM | 64.46% | ||
| FCFM | 17.26% |
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 | 0.94 | ||
| Debt/FCF | 18.7 | ||
| Debt/EBITDA | 4.81 | ||
| Cap/Depr | 57.16% | ||
| Cap/Sales | 22.38% | ||
| Interest Coverage | 2.35 | ||
| Cash Conversion | 65.13% | ||
| Profit Quality | 192.35% | ||
| Current Ratio | 0.08 | ||
| Quick Ratio | 0.08 | ||
| Altman-Z | 0.39 |
F-Score6
WACC6.54%
ROIC/WACC0.4
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)128.57%
EPS 3Y-2.7%
EPS 5Y-2.64%
EPS Q2Q%4500%
EPS Next Y-36.19%
EPS Next 2Y-10.11%
EPS Next 3Y-5.76%
EPS Next 5Y-4.17%
Revenue 1Y (TTM)23.65%
Revenue growth 3Y12.51%
Revenue growth 5Y16.84%
Sales Q2Q%15.88%
Revenue Next Year4.08%
Revenue Next 2Y4.2%
Revenue Next 3Y4.04%
Revenue Next 5Y4.12%
EBIT growth 1Y30.97%
EBIT growth 3Y18.66%
EBIT growth 5Y13.45%
EBIT Next Year237.64%
EBIT Next 3Y54.8%
EBIT Next 5Y33.17%
FCF growth 1Y122.87%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y11.95%
OCF growth 3Y10.42%
OCF growth 5Y4.82%