Healthpeak Properties (DOC) FY2020 results: revenue $1.6 billion, up 32.6% on the year
Healthpeak Properties, Inc. (DOC) reported revenue of $1.6 billion for fiscal 2020, the year ended 31 December 2020, up 32.6% on the year before. Net income was $414 million, up 808.3%, and diluted earnings per share $0.77. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2021.
Revenue
$1.6 billion
+32.6% on the year
FY2013FY2020
Operating margin
-3.9%
5.6% a year earlier
FY2013FY2020
Net income
$414 million
+808.3% on the year
FY2013FY2020
Diluted EPS
$0.77
+755.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,645
1,240
1,191
+32.6%
Cost of revenue
783
405
379
+93.1%
Gross profit
862
835
813
+3.3%
Gross margin
52.4%
67.3%
68.2%
Operating income
-64.4
69.7
37.9
Operating margin
-3.9%
5.6%
3.2%
Interest expense
218
218
261
+0.3%
Pre-tax income
218
-8.6
-2.6
Income tax
-9.4
-5.5
-4.4
Effective tax rate
-4.3%
n/a
n/a
Net income
414
45.5
1,061
+808.3%
Net margin
25.1%
3.7%
89.1%
Diluted EPS
$0.77
$0.09
$2.24
+755.6%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
758
846
849
-10.4%
Capital expenditure
789
677
561
+16.5%
Free cash flow
-30.5
169
288
Free cash flow margin
-1.9%
13.6%
24.2%
Cash from investing
-1,008
-1,449
1,829
Cash from financing
246
647
-2,621
-61.9%
Depreciation and amortisation
554
435
405
+27.3%
Share-based compensation
17.4
18.2
16.6
-4.4%
Buybacks
10.5
5.0
3.4
+108.8%
Dividends paid
787
720
697
+9.3%
Dividend per share
$1.48
$1.48
$1.48
0.0%
Diluted shares, weighted
531m
489m
475m
+8.5%
Shares outstanding at period end
538m
505m
477m
+6.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,734
6,085
5,944
+10.7%
Non-controlling interest
556
582
568
-4.5%
Redeemable equity
57.4
11.1
0.0
+416.8%
Debt
6,617
6,299
5,568
+5.0%
Other liabilities
1,956
1,055
638
+85.4%
Total liabilities and equity
15,920
14,033
12,719
+13.4%
Goodwill
18.0
17.0
47.0
+5.9%
Intangible assets
520
260
305
+99.8%
Loans
195
191
63.0
+2.5%
Cash and equivalents
44.2
80.4
54.0
-45.0%
Other assets
15,143
13,485
12,249
+12.3%
Total assets
15,920
14,033
12,719
+13.4%
10-K for the year ended 31 December 2020, filed 10 February 2021: the filing.