Healthpeak Properties, Inc.

DOC

$21.02

-0.07%

2026-09-04 11:09:56 EDT-$0.01

Real Estate

REIT - Healthcare Facilities

NYSE

Active Trading

Healthpeak Properties, Inc. is an S&P 500 constituent operating as a fully integrated real estate investment trust (REIT). The firm is dedicated ...

Key Metrics of DOC

Snapshot

Latest / TTM · 6 periods

Market Cap

$14.54B

ROCE

2.5%

EV / EBITDA

13.03x

-0.3% YoY

FCF Yield

2.0%

-9.1% YoY

Cash Conversion Cycle

0.6d

Current Ratio

2.52

Quick take

TTM —

Positive CCC

Key Metrics

Latest / TTM · 6 periods

Valuation trend

Valuation trend table

Metric	2021	2022	2023	2024	2025	TTM
Market CapTotal market value of all shares outstanding.	$19.45B	$13.51B	$10.83B	$13.70B	$11.19B	$14.54B
Enterprise ValueCompany value including debt and cash adjustments.	$25.67B	$20.14B	$17.80B	$22.60B	$21.09B	$23.23B
EV / SalesHow many dollars investors pay per dollar of sales.	13.54x	9.77x	8.16x	8.37x	7.47x	7.88x
EV / EBITDAValuation multiple versus operating earnings before non-cash charges.	26.44x	14.48x	14.07x	14.03x	14.31x	13.03x
Net Debt / EBITDALeverage ratio using net debt divided by EBITDA.	6.40	4.77	5.51	5.53	6.72	4.88

Returns + ROCE gauge

ROCE latest

2.5%

Prev year 2.8%

Returns + ROCE gauge table

Metric	2021	2022	2023	2024	2025	TTM
ROEProfit generated from shareholders' equity.	7.8%	7.5%	4.8%	2.9%	1.0%	3.3%
ROAProfit generated from total assets.	3.3%	3.2%	1.9%	1.2%	0.4%	1.2%
ROICReturn generated on invested operating capital.	-62.5%	-134.0%	-202.2%	40.3%	31.1%	29.2%
ROCEOperating return on long-term capital used.	2.6%	2.5%	3.0%	2.5%	2.8%	2.5%
Earnings YieldEarnings as a percentage of market value.	2.6%	3.7%	2.8%	1.8%	0.6%	1.7%

Cash flow quality

Cash flow quality table

Metric	2021	2022	2023	2024	2025	TTM
FCFFCash flow available to all capital providers.	$957.06M	$1.07B	$1.16B	$1.35B	$1.53B	$656.02M
FCFECash flow available to equity holders after debt flows.	$494.23M	$1.22B	$1.33B	$1.22B	$2.36B	$1.29B
FCF YieldFree cash flow divided by market capitalization.	4.1%	6.7%	8.8%	7.8%	11.2%	2.0%
Income QualityHow well accounting earnings are backed by cash flow.	1.51	1.74	2.86	4.00	12.39	4.48
Capex / OCFShare of operating cash flow spent on capital expenditures.	0.0%	0.0%	0.0%	0.0%	0.0%	75.9%

Operating efficiency

Operating efficiency table

Metric	2021	2022	2023	2024	2025	TTM
DSOAverage days to collect cash from customers.	89.4d	75.8d	45.9d	107.3d	88.5d	32.3d
DIOAverage days inventory stays before being sold.	0.0d	0.0d	0.0d	0.0d	0.0d	0.0d
DPOAverage days the company takes to pay suppliers.	107.4d	112.3d	97.2d	93.7d	119.9d	31.8d
Operating CycleTime from buying inventory to collecting receivables.	89.4d	75.8d	45.9d	107.3d	88.5d	32.3d
Cash Conversion CycleNet days cash is tied in operations.	-18.0d	-36.5d	-51.3d	13.6d	-31.4d	0.6d

Snapshot

Latest / TTM: —

Market Cap

$14.54B

ROE

3.3%

FCF Yield

2.0%

Current Ratio

2.52

Supply Chain of DOC

Upstream / Downstream / Proxies

Upstream

Bank of America, N.A.NYSE:BAC JPMorgan Chase Bank, N.A.NYSE:JPM Wells Fargo Securities, LLCNYSE:WFCBNBuilders, Inc.HinesFlad ArchitectsFerguson Pape Baldwin Architects (FPBA)Breakthrough Properties (Tishman Speyer / Bellco Capital JV)Project Management Advisors, Inc. (PMA)

Downstream

Amgen Inc.NASDAQ:AMGN Johnson & JohnsonNYSE:JNJ Pfizer Inc.NYSE:PFE Bristol-Myers Squibb CompanyNYSE:BMY AstraZeneca PLCNASDAQ:AZN HCA Healthcare, Inc.NYSE:HCABaylor Scott & White HealthPegasus Senior Living, LLCBrookdale Senior Living Inc.NYSE:BKD Blackstone Inc. (affiliates)NYSE:BX Janus Living, Inc.NYSE:JAN

Proxies

Welltower Inc.NYSE:WELL Ventas, Inc.NYSE:VTR Alexandria Real Estate Equities, Inc.NYSE:ARE Omega Healthcare Investors, Inc.NYSE:OHI Janus Living, Inc.NYSE:JAN

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