DOC FY 2018 Earnings Report — Healthpeak Properties, Inc. Revenue & Financial Results | Market Cap Arena

Healthpeak Properties, Inc.DOC

FY 2018 Earnings

Reported February 28, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.2B	—	$1.8B	—	-35.5%
Op. Income	$311M	—	$559M	—	-44.3%
Gross Margin	68.2%	—	64.0%	—	4.3pp
Net Margin	89.1%	—	22.4%	—	66.7pp
EPS (Diluted)	$2.24	—	$0.88	—	154.5%
Free Cash Flow	$849M	—	$847M	—	0.2%

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$379M
GROSS PROFIT	$813M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$97M
SG&A Expenses	$97M
Other Expenses	$405M
Operating Expenses	$501M
Cost & Expenses	$880M
OPERATING INCOME	$311M
Interest Income	$10M
Interest Expense	$261M
Other Income/Expenses	$522M
INCOME BEFORE TAX	$833M
Income Tax Expense	-$4M
Net Income from Continuing Ops	$837M
Net Income from Discontinued Ops	$236M
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$1.1B
D&A	$549M
EBIT	$1.1B
EBITDA	$1.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$379M
GROSS PROFIT	$813M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$97M
SG&A Expenses	$97M
Other Expenses	$405M
Operating Expenses	$501M
Cost & Expenses	$880M
OPERATING INCOME	$311M
Interest Income	$10M
Interest Expense	$261M
Other Income/Expenses	$522M
INCOME BEFORE TAX	$833M
Income Tax Expense	-$4M
Net Income from Continuing Ops	$837M
Net Income from Discontinued Ops	$236M
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	-$7M
BOTTOM LINE NET INCOME	$1.1B
D&A	$549M
EBIT	$1.1B
EBITDA	$1.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$549M
Stock-Based Compensation	$17M
Deferred Income Tax	-$19M
Other Non-Cash Items	-$819M
Change in Working Capital	$46M
OPERATING CASH FLOW	$849M
Capital Expenditure	$0
Acquisitions (Net)	$718M
Purchases of Investments	$0
Sales/Maturities of Investments	$148M
Other Investing Activities	$964M
NET CASH FROM INVESTING	$1.8B
Net Debt Issuance	-$1.4B
Common Stock Repurchased	-$3M
Common Dividends Paid	-$697M
Other Financing Activities	-$757M
NET CASH FROM FINANCING	-$2.6B
FREE CASH FLOW	$849M
Net Change in Cash	$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$19M
Short-Term Investments	$0
Net Receivables	$111M
Inventory	-$22M
Other Current Assets	$137M
TOTAL CURRENT ASSETS	$84M
PP&E (Net)	$10.2B
Goodwill	$0
Intangible Assets	$452M
Long-Term Investments	$1M
Tax Assets	$54M
Other Non-Current Assets	-$6.7B
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$4.1B
Account Payables	$0
Short-Term Debt	$4M
Deferred Revenue	$21M
Other Current Liabilities	$284M
TOTAL CURRENT LIABILITIES	$581M
Long-Term Debt	$5.6B
Deferred Revenue NC	$19M
Deferred Tax Liabilities	-$19M
Other Non-Current Liabilities	$169M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$1.7B
Common Stock	$2M
Additional Paid-In Capital	$8.4B
Retained Earnings	-$428M
Treasury Stock	$0
Accum. Other Comp. Income	$14M
Other Equity	-$2.9B
TOTAL STOCKHOLDERS' EQUITY	$2.4B
Minority Interest	$93M
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$4.1B
Total Debt	$1.5B
Net Debt	$1.5B