HEALTHPEAK PROPERTIES INC (DOC)
US42250P1030 - REIT
Overall DOC gets a fundamental rating of 3 out of 10. We evaluated DOC against 129 industry peers in the Diversified REITs industry. While DOC is still in line with the averages on profitability rating, there are concerns on its financial health. 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.
In the past 5 years DOC has always been profitable.
DOC had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
DOC's Return On Assets of 1.55% is fine compared to the rest of the industry. DOC outperforms 61.42% of its industry peers.
DOC has a better Return On Equity (3.61%) than 62.99% of its industry peers.
Looking at the Return On Invested Capital, with a value of 2.53%, DOC is in line with its industry, outperforming 46.46% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for DOC is in line with the industry average of 3.06%.
The last Return On Invested Capital (2.53%) for DOC is above the 3 year average (2.14%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.55% | ||
| ROE | 3.61% | ||
| ROIC | 2.53% |
ROA(3y)2.8%
ROA(5y)2.26%
ROE(3y)6.66%
ROE(5y)5.35%
ROIC(3y)2.14%
ROIC(5y)1.89%
1.3 Margins
With a decent Profit Margin value of 12.08%, DOC is doing good in the industry, outperforming 62.99% of the companies in the same industry.
In the last couple of years the Profit Margin of DOC has declined.
DOC has a Operating Margin (22.99%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of DOC has declined.
The Gross Margin of DOC (64.69%) is worse than 64.57% of its industry peers.
In the last couple of years the Gross Margin of DOC has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 22.99% | ||
| PM (TTM) | 12.08% | ||
| GM | 64.69% |
OM growth 3Y15.69%
OM growth 5Y-5.54%
PM growth 3Y-17.66%
PM growth 5Y-30.94%
GM growth 3Y4.39%
GM growth 5Y-2.65%
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 remains at a similar level compared to 1 year ago.
DOC has more shares outstanding than it did 5 years ago.
DOC has a worse debt/assets ratio than last year.
2.2 Solvency
DOC has an Altman-Z score of 0.62. This is a bad value and indicates that DOC is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.62, DOC is in line with its industry, outperforming 48.03% of the companies in the same industry.
DOC has a debt to FCF ratio of 18.44. This is a negative value and a sign of low solvency as DOC would need 18.44 years to pay back of all of its debts.
DOC has a better Debt to FCF ratio (18.44) than 74.02% of its industry peers.
A Debt/Equity ratio of 1.00 indicates that DOC is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 1.00, DOC perfoms like the industry average, outperforming 59.84% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1 | ||
| Debt/FCF | 18.44 | ||
| Altman-Z | 0.62 |
ROIC/WACC0.36
WACC6.93%
2.3 Liquidity
DOC has a Current Ratio of 0.15. This is a bad value and indicates that DOC is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.15, DOC is doing worse than 99.21% of the companies in the same industry.
A Quick Ratio of 0.15 indicates that DOC may have some problems paying its short term obligations.
DOC has a Quick ratio of 0.15. This is amonst the worse of the industry: DOC underperforms 99.21% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.15 | ||
| Quick Ratio | 0.15 |
3. Growth
3.1 Past
DOC shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.82%.
DOC shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.07% yearly.
Looking at the last year, DOC shows a quite strong growth in Revenue. The Revenue has grown by 18.79% in the last year.
The Revenue has been growing by 12.86% on average over the past years. This is quite good.
EPS 1Y (TTM)6.82%
EPS 3Y19.28%
EPS 5Y14.07%
EPS Q2Q%0%
Revenue 1Y (TTM)18.79%
Revenue growth 3Y9.86%
Revenue growth 5Y12.86%
Sales Q2Q%25.92%
3.2 Future
Based on estimates for the next years, DOC will show a decrease in Earnings Per Share. The EPS will decrease by -9.32% on average per year.
The Revenue is expected to decrease by -20.89% on average over the next years. This is quite bad
EPS Next Y-36.87%
EPS Next 2Y-32.26%
EPS Next 3Y-17.47%
EPS Next 5Y-9.32%
Revenue Next Year23.17%
Revenue Next 2Y14.15%
Revenue Next 3Y10.31%
Revenue Next 5Y-20.89%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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
The Price/Earnings ratio is 47.55, which means the current valuation is very expensive for DOC.
DOC's Price/Earnings is on the same level as the industry average.
DOC is valuated expensively when we compare the Price/Earnings ratio to 29.38, which is the current average of the S&P500 Index.
DOC is valuated quite expensively with a Price/Forward Earnings ratio of 86.97.
The rest of the industry has a similar Price/Forward Earnings ratio as DOC.
The average S&P500 Price/Forward Earnings ratio is at 23.98. DOC is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.55 | ||
| Fwd PE | 86.97 |
4.2 Price Multiples
DOC's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, DOC is valued a bit cheaper than the industry average as 67.72% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 33.58 | ||
| EV/EBITDA | 15.42 |
4.3 Compensation for Growth
DOC's earnings are expected to decrease with -17.47% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)3.38
EPS Next 2Y-32.26%
EPS Next 3Y-17.47%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.32%, DOC is a good candidate for dividend investing.
DOC's Dividend Yield is a higher than the industry average which is at 5.92.
Compared to an average S&P500 Dividend Yield of 2.21, DOC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.32% |
5.2 History
The dividend of DOC decreases each year by -4.01%.
DOC has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-4.01%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
DOC pays out 242.60% of its income as dividend. This is not a sustainable payout ratio.
DOC's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP242.6%
EPS Next 2Y-32.26%
EPS Next 3Y-17.47%
HEALTHPEAK PROPERTIES INC
NYSE:DOC (11/11/2024, 8:04:00 PM)
After market: 22.35 0 (0%)22.35
-0.41 (-1.8%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
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Market Cap15.63B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.32% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
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Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.55 | ||
| Fwd PE | 86.97 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)3.38
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.55% | ||
| ROE | 3.61% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 22.99% | ||
| PM (TTM) | 12.08% | ||
| GM | 64.69% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.13
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.15 | ||
| Quick Ratio | 0.15 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)6.82%
EPS 3Y19.28%
EPS 5Y
EPS Q2Q%
EPS Next Y-36.87%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)18.79%
Revenue growth 3Y9.86%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
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OCF growth 5Y