PEAK · Healthpeak Properties, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $752.95M | - | $705.87M | $694.35M | $702.89M | - | $700.40M | $695.50M | $606.56M | - |
| Cost of Revenue | - | - | $291.92M | $276.18M | $273.14M | - | $280.28M | $273.83M | $243.73M | - |
| Gross Profit | - | - | $413.95M | $418.17M | $429.75M | - | $420.12M | $421.68M | $362.83M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $24.59M | - | $19.91M | $20.76M | $26.12M | - | $23.22M | $26.72M | $23.30M | - |
| Total Operating Expenses | $747.35M | - | $653.30M | $651.64M | $642.47M | - | $665.19M | $273.83M | $243.73M | - |
| D&A | $289.73M | - | $262.32M | $265.92M | $268.55M | - | $280.02M | $283.50M | $219.22M | - |
| Operating Income | $195.65M | - | $65.24M | $39.65M | $54.29M | - | $98.51M | $155.39M | $22.50M | - |
| Interest Expense | $87.29M | - | $76.78M | $75.06M | $72.69M | - | $74.11M | $74.91M | $60.91M | - |
| Income Tax | $254.0K | - | ($1.21M) | $2.38M | $2.08M | - | $1.94M | $2.73M | $13.70M | - |
| Net Income | $193.63M | - | ($117.12M) | $31.67M | $42.83M | - | $85.87M | $146.05M | $6.68M | - |
| EPS - Basic | $0.28 | - | ($0.17) | $0.05 | $0.06 | - | $0.12 | $0.21 | $0.01 | - |
| EPS - Diluted | $0.28 | - | ($0.17) | $0.05 | $0.06 | - | $0.12 | $0.21 | $0.01 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.17B | $467.46M | $91.04M | $89.44M | $70.63M | $119.82M | $180.43M | $106.89M | $101.76M | $117.64M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $21.62B | $20.34B | $19.58B | $19.81B | $19.82B | $19.94B | $19.97B | $20.18B | $20.54B | $15.70B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $10.42B | $9.85B | $9.13B | $9.04B | $8.88B | $8.72B | $8.58B | $8.60B | $8.76B | $6.88B |
| Total Liabilities | $12.56B | $12.03B | $11.32B | $11.22B | $10.97B | $10.88B | $10.75B | $10.76B | $10.94B | $8.77B |
| Stockholders' Equity | $7.83B | $7.50B | $7.60B | $7.93B | $8.19B | $8.40B | $8.56B | $8.76B | $8.88B | $6.35B |
| Retained Earnings | - | - | - | - | - | - | - | - | - | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $260.88M | - | - | - | $279.43M | - | - | - | $152.56M | - |
| Investing Cash Flow | ($638.61M) | - | - | - | ($230.71M) | - | - | - | ($97.78M) | - |
| Financing Cash Flow | $1.11B | - | - | - | ($94.41M) | - | - | - | ($66.65M) | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | 58.6% | 60.2% | 61.1% | - | 60.0% | 60.6% | 59.8% | - |
| Operating margin | 26.0% | - | 9.2% | 5.7% | 7.7% | - | 14.1% | 22.3% | 3.7% | - |
| EBITDA margin | 64.5% | - | 46.4% | 44.0% | 45.9% | - | 54.0% | 63.1% | 39.9% | - |
| Net margin | 25.7% | - | -16.6% | 4.6% | 6.1% | - | 12.3% | 21.0% | 1.1% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 3.3% | - | 2.8% | 3.0% | 3.7% | - | 3.3% | 3.8% | 3.8% | - |
| Effective tax rate | 0.1% | - | - | 7.0% | 4.6% | - | 2.2% | 1.8% | 67.2% | - |
| Return on assets | 0.9% | - | -0.6% | 0.2% | 0.2% | - | 0.4% | 0.7% | 0.0% | - |
| Return on equity | 2.5% | - | -1.5% | 0.4% | 0.5% | - | 1.0% | 1.7% | 0.1% | - |
| Return on invested capital | 1.1% | - | 0.3% | 0.2% | 0.3% | - | 0.6% | 0.9% | 0.1% | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | 1.33 | 1.31 | 1.20 | 1.14 | 1.08 | 1.04 | 1.00 | 0.98 | 0.99 | 1.08 |
| Debt / Assets | 0.48 | 0.48 | 0.47 | 0.46 | 0.45 | 0.44 | 0.43 | 0.43 | 0.43 | 0.44 |
| Debt / EBITDA | 21.47 | - | 27.88 | 29.59 | 27.50 | - | 22.68 | 19.60 | 36.22 | - |
| Interest coverage | 2.2x | - | 0.8x | 0.5x | 0.7x | - | 1.3x | 2.1x | 0.4x | - |
| Equity multiplier | 2.76 | 2.71 | 2.58 | 2.50 | 2.42 | 2.37 | 2.33 | 2.30 | 2.31 | 2.47 |
| Liabilities / Assets | 0.58 | 0.59 | 0.58 | 0.57 | 0.55 | 0.55 | 0.54 | 0.53 | 0.53 | 0.56 |
| Efficiency | ||||||||||
| Asset turnover | 0.03 | - | 0.04 | 0.04 | 0.04 | - | 0.04 | 0.03 | 0.03 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 7.1% | - | 0.8% | -0.2% | 15.9% | - | 25.9% | 27.5% | 15.4% | - |
| Revenue CAGR (3y) | 12.7% | - | 10.7% | 10.3% | 12.1% | - | 13.3% | 13.5% | 10.0% | - |
| Revenue CAGR (5y) | 10.6% | - | 3.4% | 3.4% | 3.7% | - | 5.4% | 7.2% | 6.8% | - |
| Gross profit growth (YoY) | - | - | -1.5% | -0.8% | 18.4% | - | 29.9% | 30.3% | 19.9% | - |
| Operating income growth (YoY) | 260.4% | - | -33.8% | -74.5% | 141.3% | - | 46.3% | 184.6% | -83.1% | - |
| Net income growth (YoY) | 352.1% | - | - | -78.3% | 541.5% | - | 33.7% | 181.4% | -94.4% | - |
| EPS growth (YoY) | 366.7% | - | - | -76.2% | 500.0% | - | 0.0% | 133.3% | -95.5% | - |
| EPS CAGR (3y) | 8.4% | - | - | -27.3% | -22.7% | - | 6.3% | -25.6% | -66.7% | - |
| EPS CAGR (5y) | 0.7% | - | - | -11.1% | -35.6% | - | - | - | -40.1% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -4.4% | -10.7% | -11.3% | -9.5% | -7.8% | 32.3% | 32.6% | 34.0% | 34.4% | -4.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.74B totalOutpatient Medical$1.27B · 46.5%
Lab$860.02M · 31.4%
Senior Housing$603.99M · 22.1%
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing HEALTHPEAK PROPERTIES against the 5 most active filers in the same SIC group.