Healthpeak Properties

Real Estate Health Care REITs Denver, Colorado Last filing Feb 3, 2026 · FY2025

                    Revenue
                    FY2025
                
$2.8B
                    3y CAGR +11.0%
                    
                    P73
                    
                    +4.5%
                    
                    Net income
                    FY2025
                
$71.3M
                    Net margin +2.5%
                    
                    P13
                    
                    -70.7%
                    
                    Total assets
                    FY2025
                
$20.3B
                    ROA +0.4%
                    
                    P10
                    
                    +2.0%
                    
                    Operating cash flow
                    FY2025
                
$1.3B
                    
                    +17.0%

20 yrs · FY2006–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

23 accounts · 5 years

Total assets $20.3B

Total liabilities $12.0B

Shareholders equity $7.5B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	2.3%	0.6%	0.7%	0.5%	1.0%
Accounts Receivable	0.4%	0.4%	0.4%	0.3%	0.3%
Other Current Assets	4.4%	4.7%	4.9%	5.0%	4.4%
Property,Plant and Equipment	0.0%	0.2%	0.0%	0.0%	0.0%
Operating Lease Assets	2.0%	2.1%	1.5%	1.5%	1.5%
Goodwill	0.3%	0.3%	0.1%	0.1%	0.1%
Intangible Assets	3.2%	4.1%	2.0%	2.7%	3.4%
Deferred Tax Assets	0.5%	0.8%	1.0%	1.0%	1.0%
Other Noncurrent Assets	4.4%	4.7%	4.9%	5.0%	4.4%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Operating Lease Liabilities	1.5%	1.5%	1.3%	1.3%	1.3%
Total Current Liabilities	59.2%	54.6%	55.9%	53.8%	53.2%
Long Term Debt	0.0%	0.0%	0.0%	0.0%	0.0%
Operating Lease Liabilities Noncurrent	1.5%	1.5%	1.3%	1.3%	1.3%
Deferred Tax Liabilities	0.0%	0.2%	0.3%	0.3%	0.4%
Total Liabilities	59.2%	54.6%	55.9%	53.8%	53.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	3.4%	3.5%	3.5%	3.5%	3.5%
Additional Paid In Capital	62.8%	64.4%	66.3%	65.6%	66.2%
Accumulated Other Comprehensive Income	-0.0%	0.1%	0.1%	0.2%	-0.0%
Noncontrolling Interest	3.2%	3.3%	3.3%	3.3%	3.6%
Total Stockholders Equity	36.9%	42.1%	40.5%	42.2%	42.7%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $2.8B

Operating income $71.3M

Net income $71.3M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	13.9%	13.5%	13.9%	13.1%	12.4%
Expenses Cost of Revenue	12.8%	5.4%	5.7%	5.5%	5.1%
Expenses Selling,General and Administrative	0.4%	0.5%	0.6%	0.8%	0.6%
Expenses Depreciation and Amortization	5.2%	5.3%	4.8%	4.5%	4.5%
Expenses Share Based Compensation	0.1%	0.1%	0.1%	0.2%	0.1%
Expenses Operating Expenses	12.8%	13.4%	5.7%	5.5%	5.1%
Other Income Expense Operating Income	0.4%	1.2%	1.9%	3.2%	0.8%
Other Income Expense Interest Expense	1.5%	1.4%	1.3%	1.1%	1.0%
Other Income Expense Other Income/expense	0.0%	0.3%	0.0%	2.1%	0.0%
Other Income Expense Income Before Tax	1.4%	1.4%	2.0%	3.2%	0.8%
Income Tax Income Tax Expense	0.0%	0.0%	-0.1%	-0.0%	-0.0%
net Income net Income	0.4%	1.2%	1.9%	3.2%	3.3%
net Income Comprehensive Income	0.2%	1.3%	1.9%	3.4%	3.3%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	3.4%	3.4%	3.5%	3.4%	3.5%
Earnings Per Share Weighted Average Shares Diluted	3.4%	3.4%	3.5%	3.4%	3.5%

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 5 years

Operating cash flow $1.3B

Investing cash flow $-1.0B

Financing cash flow $136.1M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	0.4%	1.2%	1.9%	3.2%	3.3%
Operating Activities Depreciation and Amortization	5.2%	5.3%	4.8%	4.5%	4.5%
Operating Activities Stock Based Compensation	0.1%	0.1%	0.1%	0.2%	0.1%
Operating Activities Deferred Income Taxes	0.0%	-0.0%	-0.1%	-0.0%	-0.0%
Operating Activities Changes In Operating Assets and Liabilities	0.7%	0.6%	0.9%	0.0%	0.0%
Operating Activities net Cash From Operating Activities	6.2%	5.4%	6.1%	5.7%	5.2%
Investing Activities Other Investing Activities	0.1%	0.0%	0.2%	0.0%	0.0%
Investing Activities net Cash From Investing Activities	-5.1%	-0.6%	-3.7%	-5.6%	3.5%
Financing Activities Proceeds From Debt	59.6%	18.8%	65.9%	100.7%	110.3%
Financing Activities Repayment of Debt	55.0%	21.6%	67.7%	101.8%	103.5%
Financing Activities Repurchase of Common Stock	0.5%	1.0%	0.0%	0.4%	0.1%
Financing Activities Dividends Paid	4.2%	4.0%	4.2%	4.1%	4.3%
Financing Activities net Cash From Financing Activities	0.7%	-4.7%	-2.1%	-0.7%	-8.4%
Cash Reconciliation net Change In Cash	1.7%	0.1%	0.3%	-0.6%	0.2%
Cash Reconciliation Cash At Beginning of Period	2.3%	0.9%	1.1%	0.8%	1.4%
Cash Reconciliation Cash At End of Period	2.3%	0.9%	1.1%	0.8%	1.4%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+7.6%	+60.2%	+58.6%	+58.1%	+59.2%
Operating margin	+2.5%	+9.0%	+14.0%	+24.1%	+6.3%
Net margin	+2.5%	+9.0%	+14.0%	+24.3%	+26.7%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+11.0%	+12.5%	+9.9%	+18.4%	+16.8%
Returns
ROE	+1.0%	+2.9%	+4.8%	+7.5%	+7.8%
ROA	+0.4%	+1.2%	+1.9%	+3.2%	+3.3%
ROIC	+1.0%	+2.9%	+4.9%	+7.6%	+1.9%
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	0.05x	0.02x	0.02x	0.01x	0.03x
Leverage
D/E	1.60x	1.30x	1.38x	1.27x	1.24x
Interest coverage	0.23x	0.87x	1.53x	2.88x	0.76x
Efficiency
Asset turnover	0.14x	0.14x	0.14x	0.13x	0.12x
Cash conversion cycle	—	—	—	—	—

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Healthpeak Properties

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