Healthpeak Properties (DOC) FY2011 results: revenue $1.7 billion, up 36.6% on the year
Healthpeak Properties, Inc. (DOC) reported revenue of $1.7 billion for fiscal 2011, the year ended 31 December 2011, up 36.6% on the year before. Net income was $539 million, up 63.0%, and diluted earnings per share $1.29. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2012.
Revenue
$1.7 billion
+36.6% on the year
FY2007FY2011
Operating margin
28.2%
29.6% a year earlier
FY2007FY2011
Net income
$539 million
+63.0% on the year
FY2007FY2011
Diluted EPS
$1.29
+29.0% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
1,694
1,240
1,146
+36.6%
Operating income
478
366
93.3
+30.4%
Operating margin
28.2%
29.6%
8.1%
Interest expense
415
286
299
+45.5%
Pre-tax income
491
383
101
+28.2%
Income tax
1.3
0.4
1.9
+215.8%
Effective tax rate
0.3%
0.1%
1.9%
Net income
539
331
132
+63.0%
Net margin
31.8%
26.7%
11.5%
Diluted EPS
$1.29
$1.00
$0.40
+29.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
724
580
516
+24.7%
Capital expenditure
85.1
92.8
n/a
-8.4%
Free cash flow
639
488
n/a
+31.1%
Free cash flow margin
37.7%
39.3%
n/a
Cash from investing
-4,580
-431
-61.4
Cash from financing
2,853
775
-400
+268.2%
Depreciation and amortisation
346
307
316
+12.7%
Share-based compensation
20.0
14.9
14.4
+34.2%
Dividends paid
788
591
517
+33.3%
Dividend per share
$1.92
$1.86
$1.84
+3.2%
Diluted shares, weighted
400m
307m
275m
+30.4%
Shares outstanding at period end
409m
371m
294m
+10.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
9,033
7,957
5,781
+13.5%
Non-controlling interest
187
189
178
-0.8%
Debt
7,673
4,646
n/a
+65.1%
Other liabilities
515
540
6,251
-4.6%
Total liabilities and equity
17,408
13,332
12,210
+30.6%
Goodwill
50.3
50.3
50.3
0.0%
Intangible assets
372
316
390
+17.7%
Securities held for sale or to maturity
17.1
n/a
173
Loans
110
2,003
1,673
-94.5%
Cash and equivalents
33.5
1,037
112
-96.8%
Other assets
16,825
9,926
9,812
+69.5%
Total assets
17,408
13,332
12,210
+30.6%
10-K for the year ended 31 December 2011, filed 14 February 2012: the filing.