For the twelve months ended Sep 30, 2026, Healthpeak Properties Inc. reported $3.06B of revenue and $377.68M of net income.
DOC revenue was $820.89M in fiscal Q3 2026 (ended Sep 30, 2026), up 16.3% from a year earlier and up 6.4% from the prior quarter. For the full fiscal 2025 it was $2.82B, up 4.5% from fiscal 2024. Compound annual growth was +11.4% over 5 years and +3.8% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
DOC net income was $17.26M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$117.12M a year earlier and down 67.3% from the prior quarter. For the full fiscal 2025 it was $71.35M, down 70.7% from fiscal 2024. Compound annual growth was -29.6% over 5 years. It rose in 3 of the last 9 fiscal years.
DOC diluted EPS was $0.02 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.17 a year earlier and down 75.0% from the prior quarter. For the full fiscal 2025 it was $0.10, down 72.2% from fiscal 2024. Compound annual growth was -33.5% over 5 years.
DOC free cash flow was $357.01M for fiscal 2025 (ended Dec 31, 2025), up 7.0% from fiscal 2024. Compound annual growth was -8.2% over 10 years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.82B | $2.70B | $2.18B | $2.06B | $1.90B | $1.64B | $1.24B | $1.19B | $1.85B | $2.13B |
| Cost of revenue | - | $1.07B | $902.06M | $862.99M | $773.28M | $782.54M | $405.24M | $378.66M | $666.25M | $738.40M |
| Gross profit | - | $1.63B | $1.28B | $1.20B | $1.12B | $862.33M | $835.10M | $812.66M | $1.18B | $1.39B |
| Selling, general and admin | $90.42M | $97.16M | $95.13M | $131.03M | $98.30M | $93.24M | $92.97M | $96.70M | $88.77M | $103.61M |
| Interest expense | $305.18M | $280.43M | $200.33M | $172.94M | $157.98M | $218.34M | $217.61M | $261.28M | $307.72M | $464.40M |
| Pre-tax income | $284.29M | $273.17M | $314.94M | $507.13M | $128.37M | $217.68M | $176.32M | $838.58M | $10.90M | $11.36M |
| Income tax | $9.28M | $4.35M | -$9.62M | -$4.42M | -$3.26M | -$9.42M | -$5.48M | -$4.40M | -$1.33M | $4.47M |
| Net income | $71.35M | $243.14M | $306.01M | $500.45M | $505.54M | $413.56M | $45.53M | $1.06B | $414.17M | $627.75M |
| EPS, basic | $0.10 | $0.36 | $0.56 | $0.92 | $0.93 | $0.77 | $0.09 | $2.25 | $0.88 | $1.34 |
| EPS, diluted | $0.10 | $0.36 | $0.56 | $0.92 | $0.93 | $0.77 | $0.09 | $2.24 | $0.88 | $1.34 |
| Diluted shares | 696.0M | 676.2M | 547.3M | 539.1M | 539.2M | 531.1M | 489.3M | 475.4M | 468.9M | 467.4M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $467.46M | $119.82M | $117.64M | $72.03M | $158.29M | $44.23M | $80.40M | $53.98M | $82.20M | $136.99M |
| Goodwill | $68.53M | $68.53M | $18.03M | $18.00M | $18.00M | $18.00M | $17.00M | $47.00M | $47.00M | $42.00M |
| Total assets | $20.34B | $19.94B | $15.70B | $15.77B | $15.26B | $15.92B | $14.03B | $12.72B | $14.09B | $15.76B |
| Total debt | $9.85B | $8.72B | $6.88B | $6.50B | $6.17B | $6.62B | $6.30B | $5.48B | $7.79B | $9.10B |
| Total liabilities | $12.03B | $10.88B | $8.77B | $8.48B | $8.11B | $8.57B | $7.37B | $6.21B | $8.49B | $9.82B |
| Shareholders' equity | $7.50B | $9.06B | $6.88B | $7.18B | $7.06B | $7.29B | $6.66B | $6.51B | $5.59B | $5.94B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.25B | $1.07B | $956.24M | $900.26M | $795.25M | $758.43M | $846.07M | $848.71M | $847.04M | $1.21B |
| Capital expenditures | $894.95M | $736.76M | $774.56M | $961.99M | $759.72M | $788.89M | $677.27M | $560.88M | $471.78M | $458.90M |
| Free cash flow | $357.01M | $333.73M | $181.68M | -$61.73M | $35.53M | -$30.46M | $168.80M | $287.83M | $375.26M | $755.23M |
| Investing cash flow | -$1.03B | -$113.80M | -$576.75M | -$876.34M | $531.03M | -$1.01B | -$1.45B | $1.83B | $1.25B | -$428.97M |
| Financing cash flow | $136.11M | -$941.42M | -$337.30M | -$116.53M | -$1.29B | $246.45M | $647.27M | -$2.62B | -$2.15B | -$1.05B |
| Dividends paid | $849.10M | $794.78M | $657.02M | $648.05M | $650.08M | $787.07M | $720.12M | $696.91M | $694.96M | $979.54M |
| Share repurchases | $97.14M | $190.69M | $6.52M | $67.84M | $12.84M | $10.53M | $5.04M | $3.43M | $4.79M | $8.69M |
| Stock-based compensation | $14.41M | $15.54M | $14.48M | $26.46M | $18.20M | $17.37M | $18.16M | $16.56M | $14.26M | $22.88M |
| Depreciation and amortization | $1.06B | $1.06B | $749.90M | $710.57M | $684.29M | $553.95M | $435.19M | $404.68M | $534.73M | $568.11M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 4.5% | 23.8% | 5.8% | 8.7% | 15.3% | 32.6% | 4.1% | -35.5% | -13.2% | 9.7% |
| Net income growth, YoY | -70.7% | -20.5% | -38.9% | -1.0% | 22.2% | 808.3% | -95.7% | 156.2% | -34.0% | - |
| EPS growth, YoY | -72.2% | -35.7% | -39.1% | -1.1% | 20.8% | 755.6% | -96.0% | 154.5% | -34.3% | - |
| Gross margin | - | 60.2% | 58.6% | 58.1% | 59.2% | 52.4% | 67.3% | 68.2% | 64.0% | 65.3% |
| Net margin | 2.5% | 9.0% | 14.0% | 24.3% | 26.7% | 25.1% | 3.7% | 89.1% | 22.4% | 29.5% |
| Free cash flow margin | 12.6% | 12.4% | 8.3% | -3.0% | 1.9% | -1.9% | 13.6% | 24.2% | 20.3% | 35.5% |
| Return on equity | 1.0% | 2.7% | 4.5% | 7.0% | 7.2% | 5.7% | 0.7% | 16.3% | 7.4% | 10.6% |
| Return on assets | 0.4% | 1.2% | 1.9% | 3.2% | 3.3% | 2.6% | 0.3% | 8.3% | 2.9% | 4.0% |
| Debt to equity | 1.31 | 0.96 | 1.00 | 0.90 | 0.87 | 0.91 | 0.95 | 0.84 | 1.39 | 1.53 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $820.89M | $771.58M | $752.95M | $719.40M | $705.87M | $694.35M | $702.89M | $697.99M | $700.40M | $695.50M | $606.56M | $553.65M |
| Cost of revenue | - | - | - | - | $291.92M | $276.18M | $273.14M | $277.03M | $280.28M | $273.83M | $243.73M | $224.40M |
| Gross profit | - | - | - | - | $413.95M | $418.17M | $429.75M | $420.96M | $420.12M | $421.68M | $362.83M | $329.25M |
| Selling, general and admin | $23.59M | $22.52M | $24.59M | $23.63M | $19.91M | $20.76M | $26.12M | $23.93M | $23.22M | $26.72M | $23.30M | $21.56M |
| Interest expense | $83.90M | $92.28M | $87.29M | $80.64M | $76.78M | $75.06M | $72.69M | $70.51M | $74.11M | $74.91M | $60.91M | $52.78M |
| Pre-tax income | $34.23M | $59.33M | $195.65M | $125.11M | $65.24M | $39.65M | $54.29M | -$3.23M | $98.51M | $155.39M | $22.50M | $59.99M |
| Income tax | $1.29M | -$1.40M | $254.0K | $6.03M | -$1.21M | $2.38M | $2.08M | -$14.01M | $1.94M | $2.73M | $13.70M | -$11.84M |
| Net income | $17.26M | $52.82M | $193.63M | $113.97M | -$117.12M | $31.67M | $42.83M | $4.55M | $85.87M | $146.05M | $6.68M | $70.94M |
| EPS, basic | $0.02 | $0.08 | $0.28 | $0.16 | -$0.17 | $0.05 | $0.06 | $0.02 | $0.12 | $0.21 | $0.01 | $0.13 |
| EPS, diluted | $0.02 | $0.08 | $0.28 | $0.16 | -$0.17 | $0.05 | $0.06 | $0.02 | $0.12 | $0.21 | $0.01 | $0.13 |
| Diluted shares | 689.5M | 689.9M | 695.2M | - | 694.9M | 695.2M | 699.1M | - | 700.1M | 703.3M | 601.2M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $514.31M | $1.63B | $1.17B | $467.46M | $91.04M | $89.44M | $70.63M | $119.82M | $180.43M | $106.89M | $101.76M | $117.64M |
| Goodwill | $68.53M | $68.53M | $68.53M | $68.53M | $68.53M | $68.53M | $68.53M | $68.53M | $65.16M | $65.16M | $65.16M | $18.03M |
| Total assets | $22.41B | $21.68B | $21.62B | $20.34B | $19.58B | $19.81B | $19.82B | $19.94B | $19.97B | $20.18B | $20.54B | $15.70B |
| Total debt | $9.38B | $10.03B | $10.42B | $9.85B | $9.13B | $9.04B | $8.88B | $8.72B | $8.58B | $8.60B | $8.76B | $6.88B |
| Total liabilities | $11.61B | $12.18B | $12.56B | $12.03B | $11.32B | $11.22B | $10.97B | $10.88B | $10.75B | $10.76B | $10.94B | $8.77B |
| Shareholders' equity | $7.87B | $9.47B | $9.03B | $7.50B | $8.24B | $8.57B | $8.83B | $9.06B | $9.22B | $9.42B | $9.54B | $6.88B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $354.46M | $361.10M | $260.88M | $294.08M | $314.96M | $363.49M | $279.43M | $283.53M | $318.20M | $316.20M | $152.56M | $231.25M |
| Investing cash flow | -$2.07B | $132.63M | -$638.61M | -$405.62M | -$188.08M | -$210.26M | -$230.71M | -$233.77M | $30.23M | $187.53M | -$97.78M | -$215.67M |
| Financing cash flow | $605.68M | -$40.95M | $1.11B | $489.51M | -$130.43M | -$128.55M | -$94.41M | -$107.50M | -$265.68M | -$501.59M | -$66.65M | $39.52M |
| Dividends paid | $210.29M | $210.26M | $211.99M | $211.86M | $211.87M | $211.88M | $213.48M | $209.82M | $209.82M | $210.94M | $164.20M | $164.08M |
| Share repurchases | $99.0K | $100.19M | $1.37M | $87.0K | $17.0K | $72.08M | $24.96M | $326.0K | $20.14M | $68.23M | $102.00M | $36.0K |
| Stock-based compensation | $4.86M | $4.81M | $4.50M | $4.00M | $4.04M | $1.74M | $4.63M | $3.61M | $3.75M | $4.81M | $3.37M | $3.51M |
| Depreciation and amortization | $298.92M | $283.39M | $289.73M | $262.09M | $262.32M | $265.92M | $268.55M | $274.47M | $280.02M | $283.50M | $219.22M | $188.54M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 16.3% | 11.1% | 7.1% | 3.1% | 0.8% | -0.2% | 15.9% | 26.1% | 25.9% | 27.5% | 15.4% | 5.6% |
| Net income growth, YoY | - | 66.8% | 352.1% | 2406.4% | - | -78.3% | 541.5% | -93.6% | 33.7% | 181.4% | -94.4% | 986.8% |
| EPS growth, YoY | - | 60.0% | 366.7% | - | - | -76.2% | 500.0% | - | 0.0% | 133.3% | -95.5% | 1200.0% |
| Gross margin | - | - | - | - | 58.6% | 60.2% | 61.1% | 60.3% | 60.0% | 60.6% | 59.8% | 59.5% |
| Net margin | 2.1% | 6.8% | 25.7% | 15.8% | -16.6% | 4.6% | 6.1% | 0.7% | 12.3% | 21.0% | 1.1% | 12.8% |
| Debt to equity | 1.19 | 1.06 | 1.15 | 1.31 | 1.11 | 1.06 | 1.01 | 0.96 | 0.93 | 0.91 | 0.92 | 1.00 |
Source: XBRL data Healthpeak Properties Inc. files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| DOC | $3.06B | +9.4% | $377.68M | 12.3% | $14.21B |
| WELL | $13.79B | +39.2% | $1.67B | 12.1% | $181.46B |
| PLD | $8.95B | +6.7% | $3.71B | 41.5% | $124.09B |
| EQIX | $10.06B | +11.1% | $1.65B | 16.4% | $104.38B |
| AMT | $11.01B | +5.3% | $3.31B | 30.1% | $87.65B |
| SPG | $7.15B | +16.2% | $4.51B | 63.0% | $75.39B |
| DLR | $6.34B | +12.6% | $1.38B | 21.7% | $68.13B |
| PSA | $5.03B | +5.2% | $1.90B | 37.8% | $63.18B |
| O | $6.21B | +10.8% | $1.36B | 21.8% | $56.58B |