Healthpeak Properties, Inc. (DOC) Financial Ratios
15 years of historical data (2011–2025) · Real Estate · REIT - Healthcare Facilities
EV/EBITDA
↓
14.66
↓-16% vs avg
5yr avg: 17.39
30Y Low9.7·High25.1
P/FCF
↓
11.86
↓-19% vs avg
5yr avg: 14.68
30Y Low9.8·High24.7
P/B Ratio
↓
1.64
-9% vs avg
5yr avg: 1.80
30Y Low1.3·High68.7
ROE
↓
0.8%
↑-81% vs avg
5yr avg: 4.4%
30Y Low-67%·High228%
Debt/EBITDA
↑
6.51
+5% vs avg
5yr avg: 6.18
30Y Low0.0·High7.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DOC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Healthpeak Properties, Inc. trades at 195.6x earnings, 207% above its 5-year average of 63.7x, sitting at the 100th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 712%. On a free-cash-flow basis, the stock trades at 11.9x P/FCF, 19% below the 5-year average of 14.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.6B | $11.2B | $13.7B | $10.8B | $13.5B | $19.5B | $16.1B | $16.9B | $13.3B | $12.2B | $13.9B |
| Enterprise Value | $23.5B | $21.1B | $22.6B | $17.8B | $20.2B | $25.7B | $22.5B | $22.9B | $14.8B | $13.7B | $14.9B |
| P/E Ratio → | 195.60 | 160.80 | 56.31 | 35.36 | 27.25 | 38.81 | 39.26 | 383.00 | 12.47 | 29.64 | 22.18 |
| P/S Ratio | 4.82 | 3.97 | 5.08 | 4.97 | 6.56 | 10.26 | 9.76 | 13.60 | 11.15 | 6.62 | 6.52 |
| P/B Ratio | 1.64 | 1.35 | 1.51 | 1.56 | 1.85 | 2.72 | 2.18 | 2.53 | 5.37 | 4.78 | 7.68 |
| P/FCF | 11.86 | 9.76 | 12.80 | 11.33 | 15.01 | 24.47 | 21.17 | 19.94 | 15.64 | 14.44 | 11.44 |
| P/OCF | 10.62 | 8.74 | 12.80 | 11.33 | 15.01 | 24.47 | 21.17 | 19.94 | 15.64 | 14.44 | 11.44 |
P/E links to full P/E history page with 30-year chart
DOC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Healthpeak Properties, Inc.'s enterprise value stands at 14.7x EBITDA, 16% below its 5-year average of 17.4x. The Real Estate sector median is 17.0x, placing the stock at a 14% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.47 | 8.37 | 8.16 | 9.78 | 13.54 | 13.67 | 18.50 | 12.42 | 7.41 | 6.98 |
| EV / EBITDA | 14.66 | 13.16 | 14.79 | 15.04 | 18.88 | 25.06 | 24.65 | 23.73 | 17.18 | 12.53 | 11.55 |
| EV / EBIT | 43.19 | 38.77 | 40.84 | 34.55 | 29.63 | 89.67 | 51.57 | 58.24 | 13.45 | 19.08 | 17.88 |
| EV / FCF | — | 18.40 | 21.12 | 18.62 | 22.38 | 32.29 | 29.65 | 27.12 | 17.43 | 16.18 | 12.24 |
DOC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Healthpeak Properties, Inc. earns an operating margin of 19.3%, below the Real Estate sector average of 24.8%. ROE of 0.8% is modest. ROIC of 2.3% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.5% | 22.5% | 60.2% | 58.6% | 58.1% | 59.2% | 52.4% | 67.3% | 68.2% | 64.0% | 65.3% |
| Operating Margin | 19.3% | 19.3% | 17.4% | 19.9% | 17.3% | 17.9% | 13.1% | 24.7% | 26.1% | 30.2% | 33.8% |
| Net Profit Margin | 2.5% | 2.5% | 9.0% | 14.0% | 24.3% | 26.7% | 25.1% | 3.7% | 89.1% | 22.4% | 29.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.8% | 0.8% | 3.0% | 4.3% | 6.9% | 7.0% | 5.9% | 1.0% | 42.2% | 19.0% | 43.1% |
| ROA | 0.4% | 0.4% | 1.4% | 1.9% | 3.2% | 3.2% | 2.8% | 0.5% | 25.5% | 11.7% | 27.7% |
| ROIC | 2.3% | 2.3% | 2.2% | 2.3% | 2.0% | 1.9% | 1.2% | 2.8% | 5.8% | 12.3% | 24.7% |
| ROCE | 2.8% | 2.8% | 2.8% | 3.1% | 2.6% | 2.4% | 1.6% | 3.7% | 8.5% | 19.0% | 42.5% |
DOC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Healthpeak Properties, Inc. carries a Debt/EBITDA ratio of 6.5x, which is highly leveraged (18% below the sector average of 7.9x). Net debt stands at $9.9B ($10.4B total debt minus $538M cash). Interest coverage of just 1.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.26 | 1.26 | 1.00 | 1.02 | 0.92 | 0.89 | 0.88 | 0.92 | 0.62 | 0.58 | 0.55 |
| Debt / EBITDA | 6.51 | 6.51 | 5.90 | 5.98 | 6.28 | 6.22 | 7.10 | 6.37 | 1.78 | 1.35 | 0.77 |
| Net Debt / Equity | — | 1.19 | 0.98 | 1.01 | 0.91 | 0.87 | 0.88 | 0.91 | 0.61 | 0.58 | 0.54 |
| Net Debt / EBITDA | 6.18 | 6.18 | 5.83 | 5.88 | 6.22 | 6.07 | 7.05 | 6.28 | 1.76 | 1.35 | 0.76 |
| Debt / FCF | — | 8.64 | 8.32 | 7.28 | 7.37 | 7.82 | 8.48 | 7.18 | 1.78 | 1.74 | 0.80 |
| Interest Coverage | 1.78 | 1.78 | 1.97 | 2.57 | 3.93 | 1.81 | 2.00 | 1.81 | 4.21 | 2.33 | 1.79 |
DOC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.09x means Healthpeak Properties, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.41x to 1.09x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.09 | 1.09 | 1.13 | 0.41 | 0.34 | 0.37 | 2.28 | 4.17 | 0.14 | 0.20 | 0.09 |
| Quick Ratio | 1.09 | 1.09 | 1.13 | 0.41 | 0.34 | 0.37 | 2.28 | 4.17 | 0.18 | 0.26 | 0.11 |
| Cash Ratio | 0.55 | 0.55 | 0.14 | 0.09 | 0.04 | 0.08 | 0.03 | 0.08 | 0.03 | 0.01 | 0.02 |
| Asset Turnover | — | 0.14 | 0.14 | 0.14 | 0.13 | 0.12 | 0.10 | 0.09 | 0.29 | 0.44 | 0.74 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
DOC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Healthpeak Properties, Inc. returns 7.0% to shareholders annually — split between a 6.2% dividend yield and 0.7% buyback yield. The payout ratio exceeds 100% at 1190.1%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 0.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.2% | 7.6% | 5.8% | 6.1% | 4.8% | 3.3% | 4.9% | 4.3% | 5.2% | 5.7% | 7.1% |
| Payout Ratio | 1190.1% | 1190.1% | 326.9% | 214.7% | 129.5% | 128.6% | 190.3% | 1581.6% | 65.7% | 167.8% | 156.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.5% | 0.6% | 1.8% | 2.8% | 3.7% | 2.6% | 2.5% | 0.3% | 8.0% | 3.4% | 4.5% |
| FCF Yield | 8.4% | 10.2% | 7.8% | 8.8% | 6.7% | 4.1% | 4.7% | 5.0% | 6.4% | 6.9% | 8.7% |
| Buyback Yield | 0.7% | 0.9% | 1.4% | 0.1% | 0.5% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.1% |
| Total Shareholder Yield | 7.0% | 8.5% | 7.2% | 6.1% | 5.3% | 3.4% | 5.0% | 4.3% | 5.3% | 5.7% | 7.1% |
| Shares Outstanding | — | $696M | $676M | $547M | $539M | $539M | $531M | $489M | $475M | $469M | $467M |
Peer Comparison
Compare DOC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DOCYou | $14B | 195.6 | 14.7 | 11.9 | 22.5% | 19.3% | 0.8% | 2.3% | 6.5 |
 VTR | $39B | 151.1 | 23.2 | 29.5 | -5.9% | 14.2% | 2.1% | 2.5% | 6.0 |
 WELL | $145B | 148.7 | 64.6 | 50.8 | 39.2% | 3.3% | 2.5% | 0.5% | 8.6 |
 HR | $7B | -27.9 | 16.7 | 54.4 | -33.6% | 8.0% | -4.9% | 0.7% | 6.3 |
 OHI | $13B | 23.0 | 16.3 | 15.1 | 44.5% | 62.6% | 11.6% | 6.0% | 4.0 |
 SABR | $743M | 1.4 | 9.6 | — | 56.4% | 12.7% | — | 9.7% | 9.8 |
 MPW | $3B | -17.1 | 105.4 | 14.6 | — | — | -4.2% | — | 4.6 |
 GMRE | $94M | 115.3 | 8.3 | — | — | — | -2.2% | — | — |
 CHCT | $498M | 225.2 | 16.2 | 8.8 | 8.7% | 16.7% | 1.1% | 1.6% | 8.4 |
 LTC | $2B | 14.4 | 16.4 | 13.7 | 75.1% | 48.2% | 10.7% | 5.1% | 5.1 |
 NHI | $3B | 23.5 | 16.4 | 15.6 | 36.7% | 51.5% | 9.7% | 5.6% | 4.2 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 15 years · Updated daily
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DOC — Frequently Asked Questions
Quick answers to the most common questions about buying DOC stock.
What is Healthpeak Properties, Inc.'s P/E ratio?
Healthpeak Properties, Inc.'s current P/E ratio is 195.6x. The historical average is 39.8x. This places it at the 100th percentile of its historical range.
What is Healthpeak Properties, Inc.'s EV/EBITDA?
Healthpeak Properties, Inc.'s current EV/EBITDA is 14.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.2x.
What is Healthpeak Properties, Inc.'s ROE?
Healthpeak Properties, Inc.'s return on equity (ROE) is 0.8%. The historical average is 24.5%.
Is DOC stock overvalued?
Based on historical data, Healthpeak Properties, Inc. is trading at a P/E of 195.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Healthpeak Properties, Inc.'s dividend yield?
Healthpeak Properties, Inc.'s current dividend yield is 6.24% with a payout ratio of 1190.1%.
What are Healthpeak Properties, Inc.'s profit margins?
Healthpeak Properties, Inc. has 22.5% gross margin and 19.3% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Healthpeak Properties, Inc. have?
Healthpeak Properties, Inc.'s Debt/EBITDA ratio is 6.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.