HEALTHPEAK PROPERTIES INC (DOC) Stock Fundamental Analysis
USA - NYSE:DOC - US42250P1030 - REIT
18.51 USD
+0.37 (+2.04%)
18.55 USD
+0.04 (+0.22%)
DOC gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 129 industry peers in the Diversified REITs industry. DOC has a medium profitability rating, but doesn't score so well on its financial health evaluation. DOC is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
DOC had positive earnings in the past year.
In the past year DOC had a positive cash flow from operations.
Each year in the past 5 years DOC has been profitable.
Each year in the past 5 years DOC had a positive operating cash flow.
1.2 Ratios
The Return On Assets of DOC (0.83%) is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 2.07%, DOC is in line with its industry, outperforming 52.71% of the companies in the same industry.
DOC's Return On Invested Capital of 2.07% is on the low side compared to the rest of the industry. DOC is outperformed by 60.47% of its industry peers.
DOC had an Average Return On Invested Capital over the past 3 years of 2.19%. This is in line with the industry average of 3.01%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.83% | ||
| ROE | 2.07% | ||
| ROIC | 2.07% |
ROA(3y)2.1%
ROA(5y)2.44%
ROE(3y)5.05%
ROE(5y)5.78%
ROIC(3y)2.19%
ROIC(5y)1.92%
1.3 Margins
Looking at the Profit Margin, with a value of 5.87%, DOC is in line with its industry, outperforming 54.26% of the companies in the same industry.
DOC's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 17.78%, DOC is in line with its industry, outperforming 42.64% of the companies in the same industry.
In the last couple of years the Operating Margin of DOC has declined.
DOC's Gross Margin of 60.51% is on the low side compared to the rest of the industry. DOC is outperformed by 65.12% of its industry peers.
In the last couple of years the Gross Margin of DOC has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.78% | ||
| PM (TTM) | 5.87% | ||
| GM | 60.51% |
OM growth 3Y-2.63%
OM growth 5Y-7.45%
PM growth 3Y-30.28%
PM growth 5Y20.4%
GM growth 3Y0.52%
GM growth 5Y-2.11%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), DOC is destroying value.
The number of shares outstanding for DOC has been increased compared to 1 year ago.
The number of shares outstanding for DOC has been increased compared to 5 years ago.
The debt/assets ratio for DOC has remained at the same level compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.43, we must say that DOC is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.43, DOC perfoms like the industry average, outperforming 47.29% of the companies in the same industry.
The Debt to FCF ratio of DOC is 17.80, which is on the high side as it means it would take DOC, 17.80 years of fcf income to pay off all of its debts.
DOC has a Debt to FCF ratio of 17.80. This is in the better half of the industry: DOC outperforms 79.07% of its industry peers.
DOC has a Debt/Equity ratio of 1.14. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.14, DOC is in line with its industry, outperforming 55.04% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.14 | ||
| Debt/FCF | 17.8 | ||
| Altman-Z | 0.43 |
ROIC/WACC0.33
WACC6.35%
2.3 Liquidity
A Current Ratio of 0.19 indicates that DOC may have some problems paying its short term obligations.
DOC has a worse Current ratio (0.19) than 92.25% of its industry peers.
DOC has a Quick Ratio of 0.19. This is a bad value and indicates that DOC is not financially healthy enough and could expect problems in meeting its short term obligations.
DOC has a Quick ratio of 0.19. This is amonst the worse of the industry: DOC underperforms 92.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 |
3. Growth
3.1 Past
The earnings per share for DOC have decreased strongly by -48.94% in the last year.
Measured over the past years, DOC shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.64% on average per year.
Looking at the last year, DOC shows a quite strong growth in Revenue. The Revenue has grown by 15.91% in the last year.
DOC shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.84% yearly.
EPS 1Y (TTM)-48.94%
EPS 3Y-2.7%
EPS 5Y-2.64%
EPS Q2Q%-76.19%
Revenue 1Y (TTM)15.91%
Revenue growth 3Y12.51%
Revenue growth 5Y16.84%
Sales Q2Q%-0.17%
3.2 Future
Based on estimates for the next years, DOC will show a decrease in Earnings Per Share. The EPS will decrease by -2.84% on average per year.
DOC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.35% yearly.
EPS Next Y-32.91%
EPS Next 2Y-9.91%
EPS Next 3Y-7.98%
EPS Next 5Y-2.84%
Revenue Next Year3.49%
Revenue Next 2Y3.41%
Revenue Next 3Y3.56%
Revenue Next 5Y5.35%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 77.13, DOC can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Earnings ratio of DOC is on the same level as its industry peers.
DOC's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 27.55.
Based on the Price/Forward Earnings ratio of 65.16, the valuation of DOC can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of DOC is on the same level as its industry peers.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.04, DOC is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 77.13 | ||
| Fwd PE | 65.16 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of DOC is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, DOC is valued a bit cheaper than 72.87% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 25.32 | ||
| EV/EBITDA | 13.59 |
4.3 Compensation for Growth
DOC's earnings are expected to decrease with -7.98% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-9.91%
EPS Next 3Y-7.98%
5. Dividend
5.1 Amount
DOC has a Yearly Dividend Yield of 6.61%, which is a nice return.
Compared to an average industry Dividend Yield of 7.01, DOC pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.43, DOC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.61% |
5.2 History
The dividend of DOC decreases each year by -2.76%.
DOC has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-2.76%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DOC pays out 515.26% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of DOC has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP515.26%
EPS Next 2Y-9.91%
EPS Next 3Y-7.98%
18.51
+0.37 (+2.04%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners96.35%
Inst Owner Change0%
Ins Owners0.22%
Ins Owner Change7.19%
Market Cap12.86B
Analysts78.33
Price Target21.49 (16.1%)
Short Float %2.3%
Short Ratio2.13
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.61% |
Yearly Dividend1.28
Dividend Growth(5Y)-2.76%
DP515.26%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-3.51%
Min EPS beat(2)-19.41%
Max EPS beat(2)12.38%
EPS beat(4)2
Avg EPS beat(4)-2.54%
Min EPS beat(4)-79.16%
Max EPS beat(4)76.02%
EPS beat(8)5
Avg EPS beat(8)13.23%
EPS beat(12)7
Avg EPS beat(12)53.56%
EPS beat(16)10
Avg EPS beat(16)40.84%
Revenue beat(2)1
Avg Revenue beat(2)0.84%
Min Revenue beat(2)-0.37%
Max Revenue beat(2)2.05%
Revenue beat(4)3
Avg Revenue beat(4)0.99%
Min Revenue beat(4)-0.37%
Max Revenue beat(4)2.05%
Revenue beat(8)6
Avg Revenue beat(8)1.97%
Revenue beat(12)7
Avg Revenue beat(12)-4.86%
Revenue beat(16)11
Avg Revenue beat(16)-3.43%
PT rev (1m)-1.03%
PT rev (3m)-5.67%
EPS NQ rev (1m)-4.88%
EPS NQ rev (3m)-11.37%
EPS NY rev (1m)-6.53%
EPS NY rev (3m)-6.06%
Revenue NQ rev (1m)-0.14%
Revenue NQ rev (3m)-0.67%
Revenue NY rev (1m)-0.07%
Revenue NY rev (3m)-0.61%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 77.13 | ||
| Fwd PE | 65.16 | ||
| P/S | 4.6 | ||
| P/FCF | 25.32 | ||
| P/OCF | 10.33 | ||
| P/B | 1.62 | ||
| P/tB | 1.77 | ||
| EV/EBITDA | 13.59 |
EPS(TTM)0.24
EY1.3%
EPS(NY)0.28
Fwd EY1.53%
FCF(TTM)0.73
FCFY3.95%
OCF(TTM)1.79
OCFY9.68%
SpS4.02
BVpS11.41
TBVpS10.43
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.83% | ||
| ROE | 2.07% | ||
| ROCE | 2.62% | ||
| ROIC | 2.07% | ||
| ROICexc | 2.08% | ||
| ROICexgc | 2.27% | ||
| OM | 17.78% | ||
| PM (TTM) | 5.87% | ||
| GM | 60.51% | ||
| FCFM | 18.17% |
ROA(3y)2.1%
ROA(5y)2.44%
ROE(3y)5.05%
ROE(5y)5.78%
ROIC(3y)2.19%
ROIC(5y)1.92%
ROICexc(3y)2.2%
ROICexc(5y)1.94%
ROICexgc(3y)2.39%
ROICexgc(5y)2.1%
ROCE(3y)2.77%
ROCE(5y)2.44%
ROICexcg growth 3Y3.4%
ROICexcg growth 5Y2.94%
ROICexc growth 3Y2.73%
ROICexc growth 5Y2.33%
OM growth 3Y-2.63%
OM growth 5Y-7.45%
PM growth 3Y-30.28%
PM growth 5Y20.4%
GM growth 3Y0.52%
GM growth 5Y-2.11%
F-Score6
Asset Turnover0.14
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.14 | ||
| Debt/FCF | 17.8 | ||
| Debt/EBITDA | 5.7 | ||
| Cap/Depr | 67.65% | ||
| Cap/Sales | 26.35% | ||
| Interest Coverage | 1.93 | ||
| Cash Conversion | 78.47% | ||
| Profit Quality | 309.77% | ||
| Current Ratio | 0.19 | ||
| Quick Ratio | 0.19 | ||
| Altman-Z | 0.43 |
F-Score6
WACC6.35%
ROIC/WACC0.33
Cap/Depr(3y)101.04%
Cap/Depr(5y)178.11%
Cap/Sales(3y)35.69%
Cap/Sales(5y)67.36%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-48.94%
EPS 3Y-2.7%
EPS 5Y-2.64%
EPS Q2Q%-76.19%
EPS Next Y-32.91%
EPS Next 2Y-9.91%
EPS Next 3Y-7.98%
EPS Next 5Y-2.84%
Revenue 1Y (TTM)15.91%
Revenue growth 3Y12.51%
Revenue growth 5Y16.84%
Sales Q2Q%-0.17%
Revenue Next Year3.49%
Revenue Next 2Y3.41%
Revenue Next 3Y3.56%
Revenue Next 5Y5.35%
EBIT growth 1Y-14.85%
EBIT growth 3Y9.55%
EBIT growth 5Y8.14%
EBIT Next Year233.47%
EBIT Next 3Y53.55%
EBIT Next 5Y32.75%
FCF growth 1Y28322.5%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y34.95%
OCF growth 3Y10.42%
OCF growth 5Y4.82%