Comprehensive Stock Comparison
Compare Omega Healthcare Investors, Inc. (OHI) vs Healthpeak Properties, Inc. (DOC) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | OHI | 10.7% revenue growth vs DOC's 4.5% |
| Value | OHI | Lower P/E (24.3x vs 66.6x) |
| Quality / Margins | OHI | 50.2% net margin vs DOC's 2.5% |
| Stability / Safety | OHI | Beta 0.10 vs DOC's 0.48, lower leverage |
| Dividends | DOC | 6.9% yield, 1-year raise streak, vs OHI's 5.3% |
| Momentum (1Y) | OHI | +38.3% vs DOC's -8.1% |
| Efficiency (ROA) | OHI | 6.2% ROA vs DOC's 0.4%, ROIC 5.7% vs 2.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Omega Healthcare Investors is a real estate investment trust that owns and leases skilled nursing and assisted living facilities to healthcare operators. It generates revenue primarily through triple-net leases — where tenants pay rent plus property expenses — with skilled nursing facilities representing the majority of its portfolio. The company's moat lies in its specialized healthcare real estate expertise and diversified portfolio of essential healthcare properties across the US and UK.
Healthpeak Properties is a healthcare-focused real estate investment trust that owns, operates, and develops specialized properties for life sciences, medical offices, and senior housing. It generates revenue primarily through rental income from its portfolio — with life sciences (about 50%) and medical offices (about 40%) being the largest segments — supplemented by development fees and property sales. The company's competitive advantage lies in its specialized expertise in healthcare real estate and its high-quality, mission-critical properties that serve essential healthcare needs.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
OHI leads in 4 of 6 categories (Financial Metrics, Profitability & Efficiency). DOC leads in 2 (Valuation Metrics, Analyst Outlook).
Financial Metrics (TTM)
DOC is the larger business by revenue, generating $2.8B annually — 2.4x OHI's $1.2B. OHI is the more profitable business, keeping 50.2% of every revenue dollar as net income compared to DOC's 2.5%. On growth, OHI holds the edge at +14.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | OHIOmega Healthcare … | DOCHealthpeak Proper… |
|---|---|---|
| RevenueTrailing 12 months | $1.2B | $2.8B |
| EBITDAEarnings before interest/tax | $1.0B | $1.6B |
| Net IncomeAfter-tax profit | $597M | $71M |
| Free Cash FlowCash after capex | $629M | $1.2B |
| Gross MarginGross profit ÷ Revenue | +72.3% | +22.5% |
| Operating MarginEBIT ÷ Revenue | +60.2% | +19.3% |
| Net MarginNet income ÷ Revenue | +50.2% | +2.5% |
| FCF MarginFCF ÷ Revenue | +52.9% | +42.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +14.3% | +3.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +34.1% | — |
Valuation Metrics
At 31.1x trailing earnings, OHI trades at a 82% valuation discount to DOC's 176.8x P/E. On an enterprise value basis, DOC's 13.8x EV/EBITDA is more attractive than OHI's 18.5x.
| Metric | OHIOmega Healthcare … | DOCHealthpeak Proper… |
|---|---|---|
| Market CapShares × price | $13.5B | $12.3B |
| Enterprise ValueMkt cap + debt − cash | $17.8B | $22.2B |
| Trailing P/EPrice ÷ TTM EPS | 31.14x | 176.80x |
| Forward P/EPrice ÷ next-FY EPS est. | 24.31x | 66.59x |
| PEG RatioP/E ÷ EPS growth rate | 187.73x | — |
| EV / EBITDAEnterprise value multiple | 18.45x | 13.84x |
| Price / SalesMarket cap ÷ Revenue | 12.81x | 4.35x |
| Price / BookPrice ÷ Book value/share | 2.76x | 1.48x |
| Price / FCFMarket cap ÷ FCF | 17.98x | 9.82x |
Profitability & Efficiency
OHI delivers a 11.0% return on equity — every $100 of shareholder capital generates $11 in annual profit, vs $1 for DOC. OHI carries lower financial leverage with a 1.02x debt-to-equity ratio, signaling a more conservative balance sheet compared to DOC's 1.26x. On the Piotroski fundamental quality scale (0–9), OHI scores 8/9 vs DOC's 4/9, reflecting strong financial health.
| Metric | OHIOmega Healthcare … | DOCHealthpeak Proper… |
|---|---|---|
| ROE (TTM)Return on equity | +11.0% | +0.9% |
| ROA (TTM)Return on assets | +6.2% | +0.4% |
| ROICReturn on invested capital | +5.7% | +2.3% |
| ROCEReturn on capital employed | +7.2% | +2.8% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 4 |
| Debt / EquityFinancial leverage | 1.02x | 1.26x |
| Net DebtTotal debt minus cash | $4.3B | $9.9B |
| Cash & Equiv.Liquid assets | $518M | $538M |
| Total DebtShort + long-term debt | $4.8B | $10.4B |
| Interest CoverageEBIT ÷ Interest expense | 2.98x | 1.78x |
Total Returns (with DRIP)
A $10,000 investment in OHI five years ago would be worth $16,302 today (with dividends reinvested), compared to $8,913 for DOC. Over the past 12 months, OHI leads with a +38.3% total return vs DOC's -8.1%. The 3-year compound annual growth rate (CAGR) favors OHI at 28.1% vs DOC's -2.8% — a key indicator of consistent wealth creation.
| Metric | OHIOmega Healthcare … | DOCHealthpeak Proper… |
|---|---|---|
| YTD ReturnYear-to-date | +9.9% | +10.4% |
| 1-Year ReturnPast 12 months | +38.3% | -8.1% |
| 3-Year ReturnCumulative with dividends | +110.2% | -8.0% |
| 5-Year ReturnCumulative with dividends | +63.0% | -10.9% |
| 10-Year ReturnCumulative with dividends | +132.8% | +30.4% |
| CAGR (3Y)Annualised 3-year return | +28.1% | -2.8% |
Risk & Volatility
OHI is the less volatile stock with a 0.10 beta — it tends to amplify market swings less than DOC's 0.48 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. OHI currently trades 98.2% from its 52-week high vs DOC's 83.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | OHIOmega Healthcare … | DOCHealthpeak Proper… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.10x | 0.48x |
| 52-Week HighHighest price in past year | $49.14 | $21.28 |
| 52-Week LowLowest price in past year | $35.04 | $15.71 |
| % of 52W HighCurrent price vs 52-week peak | +98.2% | +83.1% |
| RSI (14)Momentum oscillator 0–100 | 68.6 | 58.4 |
| Avg Volume (50D)Average daily shares traded | 1.6M | 8.1M |
Analyst Outlook
Wall Street rates OHI as "Hold" and DOC as "Buy". Consensus price targets imply 3.7% upside for DOC (target: $18) vs 1.8% for OHI (target: $49). For income investors, DOC offers the higher dividend yield at 6.90% vs OHI's 5.25%.
| Metric | OHIOmega Healthcare … | DOCHealthpeak Proper… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $49.14 | $18.33 |
| # AnalystsCovering analysts | 28 | 40 |
| Dividend YieldAnnual dividend ÷ price | +5.3% | +6.9% |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | $2.53 | $1.22 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.8% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Omega Healthcare In… (OHI) | 100 | 109.22 | +9.2% |
| Healthpeak Properti… (DOC) | 100 | 51.54 | -48.5% |
Omega Healthcare In… (OHI) returned +63% over 5 years vs Healthpeak Properti… (DOC)'s -11%. A $10,000 investment in OHI 5 years ago would be worth $16,302 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Omega Healthcare In… (OHI) | $901M | $1.1B | +16.7% |
| Healthpeak Properti… (DOC) | $2.1B | $2.8B | +32.6% |
Healthpeak Properties, Inc.'s revenue grew from $2.1B (2016) to $2.8B (2025) — a 3.2% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Omega Healthcare In… (OHI) | 40.7% | 38.6% | -5.0% |
| Healthpeak Properti… (DOC) | 29.5% | 2.5% | -91.4% |
Healthpeak Properties, Inc.'s net margin went from 29% (2016) to 3% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Omega Healthcare In… (OHI) | 54 | 24.4 | -54.8% |
| Healthpeak Properti… (DOC) | 29.6 | 160.8 | +443.2% |
Omega Healthcare Investors, Inc. has traded in a 16x–54x P/E range over 8 years; current trailing P/E is ~31x. Healthpeak Properties, Inc. has traded in a 13x–383x P/E range over 9 years; current trailing P/E is ~177x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Omega Healthcare In… (OHI) | 1.9 | 1.55 | -18.4% |
| Healthpeak Properti… (DOC) | 1.34 | 0.1 | -92.5% |
Healthpeak Properties, Inc.'s EPS grew from $1.34 (2016) to $0.10 (2025) — a -25% CAGR.
Chart 6Free Cash Flow — 5 Years
Omega Healthcare Investors, Inc. generated $749M FCF in 2024 (+20% vs 2021). Healthpeak Properties, Inc. generated $1B FCF in 2025 (+57% vs 2021).
OHI vs DOC: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is OHI or DOC a better buy right now?
Omega Healthcare Investors, Inc. (OHI) offers the better valuation at 31.1x trailing P/E (24.3x forward), making it the more compelling value choice. Analysts rate Healthpeak Properties, Inc. (DOC) a "Buy" — based on 40 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — OHI or DOC?
On trailing P/E, Omega Healthcare Investors, Inc. (OHI) is the cheapest at 31.1x versus Healthpeak Properties, Inc. at 176.8x. On forward P/E, Omega Healthcare Investors, Inc. is actually cheaper at 24.3x.
03Which is the better long-term investment — OHI or DOC?
Over the past 5 years, Omega Healthcare Investors, Inc. (OHI) delivered a total return of +63.0%, compared to -10.9% for Healthpeak Properties, Inc. (DOC). A $10,000 investment in OHI five years ago would be worth approximately $16K today (assuming dividends reinvested). Over 10 years, the gap is even starker: OHI returned +132.8% versus DOC's +30.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — OHI or DOC?
By beta (market sensitivity over 5 years), Omega Healthcare Investors, Inc. (OHI) is the lower-risk stock at 0.10β versus Healthpeak Properties, Inc.'s 0.48β — meaning DOC is approximately 395% more volatile than OHI relative to the S&P 500. On balance sheet safety, Omega Healthcare Investors, Inc. (OHI) carries a lower debt/equity ratio of 102% versus 126% for Healthpeak Properties, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — OHI or DOC?
Omega Healthcare Investors, Inc. (OHI) is the more profitable company, earning 38.6% net margin versus 2.5% for Healthpeak Properties, Inc. — meaning it keeps 38.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: OHI leads at 62.7% versus 19.3% for DOC. At the gross margin level — before operating expenses — OHI leads at 98.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is OHI or DOC more undervalued right now?
On forward earnings alone, Omega Healthcare Investors, Inc. (OHI) trades at 24.3x forward P/E versus 66.6x for Healthpeak Properties, Inc. — 42.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DOC: 3.7% to $18.33.
07Which pays a better dividend — OHI or DOC?
All stocks in this comparison pay dividends. Healthpeak Properties, Inc. (DOC) offers the highest yield at 6.9%, versus 5.3% for Omega Healthcare Investors, Inc. (OHI).
08Is OHI or DOC better for a retirement portfolio?
For long-horizon retirement investors, Omega Healthcare Investors, Inc. (OHI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.10), 5.3% yield, +132.8% 10Y return). Both have compounded well over 10 years (OHI: +132.8%, DOC: +30.4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between OHI and DOC?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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