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HEALTHPEAK PROPERTIES INC (DOC) Stock Fundamental Analysis

NYSE:DOC - US42250P1030 - REIT

17.75 USD
+0.47 (+2.72%)
Last: 8/22/2025, 8:04:00 PM
17.8 USD
+0.05 (+0.28%)
After Hours: 8/22/2025, 8:04:00 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to DOC. DOC was compared to 129 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 has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

In the past year DOC was profitable.
In the past year DOC had a positive cash flow from operations.
Each year in the past 5 years DOC has been profitable.
Each year in the past 5 years DOC had a positive operating cash flow.
DOC Yearly Net Income VS EBIT VS OCF VS FCFDOC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B -1B

1.2 Ratios

DOC has a Return On Assets (0.83%) which is comparable to the rest of the industry.
The Return On Equity of DOC (2.07%) is comparable to the rest of the industry.
DOC has a Return On Invested Capital of 2.21%. This is comparable to the rest of the industry: DOC outperforms 42.64% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for DOC is in line with the industry average of 3.07%.
Industry RankSector Rank
ROA 0.83%
ROE 2.07%
ROIC 2.21%
ROA(3y)2.1%
ROA(5y)2.44%
ROE(3y)5.05%
ROE(5y)5.78%
ROIC(3y)2.37%
ROIC(5y)2.04%
DOC Yearly ROA, ROE, ROICDOC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15

1.3 Margins

DOC has a Profit Margin (5.87%) which is in line with its industry peers.
DOC's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 18.98%, DOC perfoms like the industry average, outperforming 44.19% of the companies in the same industry.
In the last couple of years the Operating Margin of DOC has declined.
Looking at the Gross Margin, with a value of 61.30%, DOC is doing worse than 65.12% of the companies in the same industry.
DOC's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 18.98%
PM (TTM) 5.87%
GM 61.3%
OM growth 3Y4.88%
OM growth 5Y-3.23%
PM growth 3Y-30.28%
PM growth 5Y20.4%
GM growth 3Y2.83%
GM growth 5Y-0.77%
DOC Yearly Profit, Operating, Gross MarginsDOC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60 80

2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), DOC is destroying value.
Compared to 1 year ago, DOC has more shares outstanding
Compared to 5 years ago, DOC has more shares outstanding
Compared to 1 year ago, DOC has about the same debt to assets ratio.
DOC Yearly Shares OutstandingDOC Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
DOC Yearly Total Debt VS Total AssetsDOC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

DOC has an Altman-Z score of 0.42. 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 (0.42) which is comparable to the rest of the industry.
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.
The Debt to FCF ratio of DOC (17.80) is better 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.
With a Debt to Equity ratio value of 1.14, DOC perfoms like the industry average, outperforming 54.26% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.14
Debt/FCF 17.8
Altman-Z 0.42
ROIC/WACC0.34
WACC6.52%
DOC Yearly LT Debt VS Equity VS FCFDOC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B 10B

2.3 Liquidity

A Current Ratio of 0.19 indicates that DOC may have some problems paying its short term obligations.
DOC has a Current ratio of 0.19. This is amonst the worse of the industry: DOC underperforms 90.70% of its industry peers.
A Quick Ratio of 0.19 indicates that DOC may have some problems paying its short term obligations.
With a Quick ratio value of 0.19, DOC is not doing good in the industry: 90.70% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.19
Quick Ratio 0.19
DOC Yearly Current Assets VS Current LiabilitesDOC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

3

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.
DOC shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.91%.
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

The Earnings Per Share is expected to decrease by -2.84% on average over the next years.
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 Year3.75%
Revenue Next 2Y3.62%
Revenue Next 3Y3.51%
Revenue Next 5Y3.98%

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 stable.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
DOC Yearly Revenue VS EstimatesDOC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B
DOC Yearly EPS VS EstimatesDOC Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 0.5 1 1.5 2

2

4. Valuation

4.1 Price/Earnings Ratio

DOC is valuated quite expensively with a Price/Earnings ratio of 73.96.
DOC's Price/Earnings ratio is in line with the industry average.
DOC is valuated expensively when we compare the Price/Earnings ratio to 27.24, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 57.62, the valuation of DOC can be described as expensive.
DOC's Price/Forward Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.82, DOC is valued quite expensively.
Industry RankSector Rank
PE 73.96
Fwd PE 57.62
DOC Price Earnings VS Forward Price EarningsDOC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of DOC indicates a somewhat cheap valuation: DOC is cheaper than 68.99% of the companies listed in the same industry.
74.42% of the companies in the same industry are more expensive than DOC, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 24.28
EV/EBITDA 13.14
DOC Per share dataDOC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

DOC's earnings are expected to decrease with -6.86% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-6.18%
EPS Next 3Y-6.86%

5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.06%, DOC is a good candidate for dividend investing.
DOC's Dividend Yield is a higher than the industry average which is at 6.36.
DOC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.32.
Industry RankSector Rank
Dividend Yield 7.06%

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
DOC Yearly Dividends per shareDOC Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

DOC pays out 515.26% 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.
DP515.26%
EPS Next 2Y-6.18%
EPS Next 3Y-6.86%
DOC Yearly Income VS Free CF VS DividendDOC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B -1B
DOC Dividend Payout.DOC Dividend Payout, showing the Payout Ratio.DOC Dividend Payout.PayoutRetained Earnings

HEALTHPEAK PROPERTIES INC

NYSE:DOC (8/22/2025, 8:04:00 PM)

After market: 17.8 +0.05 (+0.28%)

17.75

+0.47 (+2.72%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)07-24 2025-07-24/amc
Earnings (Next)10-22 2025-10-22/amc
Inst Owners98.24%
Inst Owner Change-2.5%
Ins Owners0.22%
Ins Owner Change6.87%
Market Cap12.33B
Analysts79.13
Price Target21.78 (22.7%)
Short Float %3.04%
Short Ratio2.98
Dividend
Industry RankSector Rank
Dividend Yield 7.06%
Yearly Dividend1.28
Dividend Growth(5Y)-2.76%
DP515.26%
Div Incr Years0
Div Non Decr Years0
Ex-Date09-19 2025-09-19 (0.10167)
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)-4.17%
PT rev (3m)-9.25%
EPS NQ rev (1m)0%
EPS NQ rev (3m)12.83%
EPS NY rev (1m)0.51%
EPS NY rev (3m)6.1%
Revenue NQ rev (1m)-0.4%
Revenue NQ rev (3m)-1.26%
Revenue NY rev (1m)-0.36%
Revenue NY rev (3m)-0.46%
Valuation
Industry RankSector Rank
PE 73.96
Fwd PE 57.62
P/S 4.41
P/FCF 24.28
P/OCF 9.91
P/B 1.56
P/tB 1.7
EV/EBITDA 13.14
EPS(TTM)0.24
EY1.35%
EPS(NY)0.31
Fwd EY1.74%
FCF(TTM)0.73
FCFY4.12%
OCF(TTM)1.79
OCFY10.09%
SpS4.02
BVpS11.41
TBVpS10.43
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.83%
ROE 2.07%
ROCE 2.79%
ROIC 2.21%
ROICexc 2.22%
ROICexgc 2.42%
OM 18.98%
PM (TTM) 5.87%
GM 61.3%
FCFM 18.17%
ROA(3y)2.1%
ROA(5y)2.44%
ROE(3y)5.05%
ROE(5y)5.78%
ROIC(3y)2.37%
ROIC(5y)2.04%
ROICexc(3y)2.39%
ROICexc(5y)2.05%
ROICexgc(3y)2.59%
ROICexgc(5y)2.22%
ROCE(3y)3%
ROCE(5y)2.58%
ROICexcg growth 3Y11.37%
ROICexcg growth 5Y7.63%
ROICexc growth 3Y10.65%
ROICexc growth 5Y6.99%
OM growth 3Y4.88%
OM growth 5Y-3.23%
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 RankSector Rank
Debt/Equity 1.14
Debt/FCF 17.8
Debt/EBITDA 5.58
Cap/Depr 67.65%
Cap/Sales 26.35%
Interest Coverage 2.06
Cash Conversion 76.85%
Profit Quality 309.77%
Current Ratio 0.19
Quick Ratio 0.19
Altman-Z 0.42
F-Score6
WACC6.52%
ROIC/WACC0.34
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 Year3.75%
Revenue Next 2Y3.62%
Revenue Next 3Y3.51%
Revenue Next 5Y3.98%
EBIT growth 1Y-9.11%
EBIT growth 3Y18%
EBIT growth 5Y13.06%
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%