DOC FY 2016 Earnings Report — Healthpeak Properties, Inc. Revenue & Financial Results | Market Cap Arena

Healthpeak Properties, Inc.DOC

FY 2016 Earnings

Reported February 24, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$2.1B	—	$1.9B	—	9.7%
Op. Income	$719M	—	$729M	—	-1.3%
Gross Margin	65.3%	—	68.5%	—	-3.2pp
Net Margin	29.5%	—	-28.8%	—	58.3pp
EPS (Diluted)	$1.34	—	$-1.21	—	210.7%
Free Cash Flow	$1.2B	—	$1.2B	—	-0.7%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$738M
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$104M
SG&A Expenses	$104M
Other Expenses	$568M
Operating Expenses	$672M
Cost & Expenses	$1.4B
OPERATING INCOME	$719M
Interest Income	$89M
Interest Expense	$464M
Other Income/Expenses	-$341M
INCOME BEFORE TAX	$379M
Income Tax Expense	$4M
Net Income from Continuing Ops	$374M
Net Income from Discontinued Ops	$266M
Other Adjustments	$0
NET INCOME	$628M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$627M
D&A	$568M
EBIT	$832M
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$738M
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$104M
SG&A Expenses	$104M
Other Expenses	$568M
Operating Expenses	$672M
Cost & Expenses	$1.4B
OPERATING INCOME	$719M
Interest Income	$89M
Interest Expense	$464M
Other Income/Expenses	-$341M
INCOME BEFORE TAX	$379M
Income Tax Expense	$4M
Net Income from Continuing Ops	$374M
Net Income from Discontinued Ops	$266M
Other Adjustments	$0
NET INCOME	$628M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$627M
D&A	$568M
EBIT	$832M
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$645M
Depreciation & Amortization	$568M
Stock-Based Compensation	$23M
Deferred Income Tax	$47M
Other Non-Cash Items	-$104M
Change in Working Capital	$35M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	$0
Acquisitions (Net)	-$10M
Purchases of Investments	-$73M
Sales/Maturities of Investments	$232M
Other Investing Activities	-$577M
NET CASH FROM INVESTING	-$429M
Net Debt Issuance	-$67M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$980M
Other Financing Activities	-$67M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$1.2B
Net Change in Cash	-$270M

Balance Sheet

Item	Amount
Cash & Equivalents	$15M
Short-Term Investments	$0
Net Receivables	$853M
Inventory	-$15M
Other Current Assets	$970M
TOTAL CURRENT ASSETS	$64M
PP&E (Net)	$11.3B
Goodwill	$0
Intangible Assets	$480M
Long-Term Investments	$2M
Tax Assets	$36M
Other Non-Current Assets	-$8.8B
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$2.9B
Account Payables	$0
Short-Term Debt	$92M
Deferred Revenue	$33M
Other Current Liabilities	$268M
TOTAL CURRENT LIABILITIES	$723M
Long-Term Debt	$8.3B
Deferred Revenue NC	$6M
Deferred Tax Liabilities	-$6M
Other Non-Current Liabilities	-$618.0K
TOTAL NON-CURRENT LIABILITIES	$357M
TOTAL LIABILITIES	$1.1B
Common Stock	$1M
Additional Paid-In Capital	$8.2B
Retained Earnings	-$197M
Treasury Stock	$0
Accum. Other Comp. Income	$14M
Other Equity	-$3.1B
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$70M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$991M
Net Debt	$976M