Healthpeak Properties (DOC) FY2019 results: revenue $1.2 billion, up 4.1% on the year
Healthpeak Properties, Inc. (DOC) reported revenue of $1.2 billion for fiscal 2019, the year ended 31 December 2019, up 4.1% on the year before. Net income was $46 million, down 95.7%, and diluted earnings per share $0.09. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$1.2 billion
+4.1% on the year
FY2012FY2019
Operating margin
5.6%
3.2% a year earlier
FY2012FY2019
Net income
$46 million
-95.7% on the year
FY2012FY2019
Diluted EPS
$0.09
-96.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,240
1,191
1,848
+4.1%
Cost of revenue
405
379
666
+7.0%
Gross profit
835
813
1,182
+2.8%
Gross margin
67.3%
68.2%
64.0%
Operating income
69.7
37.9
76.6
+83.6%
Operating margin
5.6%
3.2%
4.1%
Interest expense
218
261
308
-16.7%
Pre-tax income
-8.6
-2.6
10.9
Income tax
-5.5
-4.4
-1.3
Effective tax rate
n/a
n/a
-12.2%
Net income
45.5
1,061
414
-95.7%
Net margin
3.7%
89.1%
22.4%
Diluted EPS
$0.09
$2.24
$0.88
-96.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
846
849
847
-0.3%
Capital expenditure
677
561
472
+20.8%
Free cash flow
169
288
375
-41.4%
Free cash flow margin
13.6%
24.2%
20.3%
Cash from investing
-1,449
1,829
1,246
Cash from financing
647
-2,621
-2,148
Depreciation and amortisation
435
405
535
+7.5%
Share-based compensation
18.2
16.6
14.3
+9.7%
Buybacks
5.0
3.4
4.8
+46.9%
Dividends paid
720
697
695
+3.3%
Dividend per share
$1.48
$1.48
$1.48
0.0%
Diluted shares, weighted
489m
475m
469m
+2.9%
Shares outstanding at period end
505m
477m
469m
+5.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
6,085
5,944
5,301
+2.4%
Non-controlling interest
582
568
294
+2.5%
Redeemable equity
11.1
0.0
n/a
Debt
6,299
5,568
7,880
+13.1%
Other liabilities
1,055
638
613
+65.4%
Total liabilities and equity
14,033
12,719
14,088
+10.3%
Goodwill
17.0
47.0
47.0
-63.8%
Intangible assets
260
305
410
-14.7%
Loans
191
63.0
313
+202.5%
Cash and equivalents
80.4
54.0
55.3
+48.9%
Other assets
13,485
12,249
13,263
+10.1%
Total assets
14,033
12,719
14,088
+10.3%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.