Healthpeak Properties (DOC) FY2017 results: revenue $1.8 billion, down 13.2% on the year
Healthpeak Properties, Inc. (DOC) reported revenue of $1.8 billion for fiscal 2017, the year ended 31 December 2017, down 13.2% on the year before. Net income was $414 million, down 34.0%, and diluted earnings per share $0.88. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2018.
Revenue
$1.8 billion
-13.2% on the year
FY2010FY2017
Operating margin
4.1%
11.5% a year earlier
FY2010FY2017
Net income
$414 million
-34.0% on the year
FY2010FY2017
Diluted EPS
$0.88
-34.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,848
2,129
1,940
-13.2%
Cost of revenue
666
738
n/a
-9.8%
Gross profit
1,182
1,391
n/a
-15.0%
Gross margin
64.0%
65.3%
n/a
Operating income
76.6
245
114
-68.7%
Operating margin
4.1%
11.5%
5.9%
Interest expense
308
464
480
-33.7%
Pre-tax income
10.9
11.4
6.6
-4.0%
Income tax
-1.3
4.5
-9.8
Effective tax rate
-12.2%
39.4%
-148.8%
Net income
414
628
-559
-34.0%
Net margin
22.4%
29.5%
-28.8%
Diluted EPS
$0.88
$1.34
-$1.21
-34.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
847
1,214
1,222
-30.2%
Capital expenditure
472
459
385
+2.8%
Free cash flow
375
755
837
-50.3%
Free cash flow margin
20.3%
35.5%
43.2%
Cash from investing
1,246
-429
-1,660
Cash from financing
-2,148
-1,054
614
Depreciation and amortisation
535
568
505
-5.9%
Share-based compensation
14.3
22.9
26.1
-37.7%
Buybacks
4.8
8.7
8.7
-44.9%
Dividends paid
695
980
1,047
-29.1%
Dividend per share
$1.48
$2.10
$2.26
-29.4%
Diluted shares, weighted
469m
467m
463m
+0.3%
Shares outstanding at period end
469m
468m
465m
+0.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,301
5,548
9,344
-4.4%
Non-controlling interest
294
394
403
-25.3%
Debt
7,880
9,189
11,069
-14.2%
Other liabilities
613
628
635
-2.5%
Total liabilities and equity
14,088
15,759
21,450
-10.6%
Goodwill
47.0
42.0
47.0
+11.9%
Intangible assets
410
480
587
-14.5%
Securities held for sale or to maturity
n/a
68.6
103
Loans
313
808
769
-61.2%
Cash and equivalents
55.3
94.7
340
-41.6%
Other assets
13,263
14,266
19,604
-7.0%
Total assets
14,088
15,759
21,450
-10.6%
10-K for the year ended 31 December 2017, filed 13 February 2018: the filing.