DOC

MKT CAP:$11B

Healthpeak Properties, Inc.

Market Cap

$11B

Real Estate·REIT - Healthcare Facilities·🇺🇸 United States·NYSE

Real Estate·REIT·🇺🇸·NYSE

Stock Price

$16.13-$0.07 (-0.43%)

Apr 23, 2026

Company Details

Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates, and develops high-quality real estate for healthcare discovery and delivery.

CEO

Scott Brinker

IPO Date

May 23, 1985

Website

www.healthpeak.com

Key Metrics TTM

Revenue

$719M

— YoY

Net Income

$114M

EPS (Diluted)

$0.16

Free Cash Flow

$242M

Revenue / Share

$1.03

Gross Margin

-87.2%

Operating Margin

20.3%

Net Margin

15.8%

FCF Margin

33.6%

P/S

15.9x

P/E

100.3x

Earnings Reports

FY 2025

Feb 3, 2026

$719MEPS $0.16

Q4 2025

Feb 3, 2026

$719MEPS $0.16

FY 2018

Feb 28, 2019

$442MEPS $1.75

Q4 2018

Feb 28, 2019

$442MEPS $1.73

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 18	$442M	$265M	$112M
Q4 25	$719M	-$627M	$146M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 18	$216M	$216M
Q4 25	$300M	$242M

Capital Expenditures

Quarter	CapEx
Q4 18	$0
Q4 25	$58M

CapEx

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 18	$3M	0.8%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q4 18	$22M
Q4 25	$24M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$89M	$0	$89M
Q2 22	$73M	$0	$73M
Q3 22	$112M	$0	$112M
Q4 22	$72M	$0	$72M
Q1 23	$59M	$0	$59M
Q2 23	$104M	$0	$104M
Q3 23	$63M	$0	$63M
Q4 23	$118M	$0	$118M
Q1 24	$102M	$0	$102M
Q2 24	$107M	$0	$107M
Q3 24	$180M	$0	$180M
Q4 24	$120M	$0	$120M
Q1 25	$71M	$0	$71M
Q2 25	$89M	$0	$89M
Q3 25	$91M	$0	$91M
Q4 25	$538M	$0	$538M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 18	480M	—	—
Q4 25	696M	+45.0%	—

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 18	$2M	201
Q4 25	$2M	411

Revenue / Employee