Healthpeak Properties (DOC) FY2013 results: revenue $2.1 billion, up 11.7% on the year
Healthpeak Properties, Inc. (DOC) reported revenue of $2.1 billion for fiscal 2013, the year ended 31 December 2013, up 11.7% on the year before. Net income was $971 million, up 16.6%, and diluted earnings per share $2.13. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2014.
Revenue
$2.1 billion
+11.7% on the year
FY2007FY2013
Operating margin
39.7%
39.5% a year earlier
FY2007FY2013
Net income
$971 million
+16.6% on the year
FY2007FY2013
Diluted EPS
$2.13
+12.1% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,100
1,880
1,694
+11.7%
Operating income
834
742
478
+12.4%
Operating margin
39.7%
39.5%
28.2%
Interest expense
435
416
415
+4.6%
Pre-tax income
852
745
491
+14.4%
Income tax
5.8
-1.7
1.3
Effective tax rate
0.7%
-0.2%
0.3%
Net income
971
833
539
+16.6%
Net margin
46.2%
44.3%
31.8%
Diluted EPS
$2.13
$1.90
$1.29
+12.1%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,149
1,035
724
+11.0%
Capital expenditure
130
134
85.1
-2.5%
Free cash flow
1,019
901
639
+13.0%
Free cash flow margin
48.5%
47.9%
37.7%
Cash from investing
-197
-2,314
-4,580
Cash from financing
-900
1,493
2,853
Depreciation and amortisation
423
354
346
+19.7%
Share-based compensation
40.0
23.3
20.0
+71.8%
Dividends paid
957
865
788
+10.6%
Dividend per share
$2.10
$2.00
$1.92
+5.0%
Diluted shares, weighted
456m
428m
400m
+6.4%
Shares outstanding at period end
457m
453m
409m
+0.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
10,723
10,551
9,033
+1.6%
Non-controlling interest
208
203
187
+2.6%
Debt
8,662
8,682
7,673
-0.2%
Other liabilities
483
479
515
+0.8%
Total liabilities and equity
20,076
19,916
17,408
+0.8%
Goodwill
50.3
50.3
50.3
0.0%
Intangible assets
490
553
372
-11.4%
Securities held for sale or to maturity
244
223
17.1
+9.6%
Loans
366
276
110
+32.6%
Cash and equivalents
301
248
33.5
+21.4%
Other assets
18,625
18,566
16,825
+0.3%
Total assets
20,076
19,916
17,408
+0.8%
10-K for the year ended 31 December 2013, filed 11 February 2014: the filing.