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Screener / SEC EDGAR /CIK 0000765880 /10-K filed Feb 3, 2026, compared with Feb 4, 2025 /Numbers from the XBRL of the 10-Ks
Real estate peers:
AREINVHDOCEXRSBACBXP
NYSE Real estate · REIT

Healthpeak Properties DOC

DOC quote by TradingView

Healthpeak Properties, Inc. is a Standard & Poor’s (“S&P”) 500 company that owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery in the United States (“U.S.”). 10-K, Item 1

Headquarters
Denver, CO
CEO
Scott M. Brinker
Next results
around Feb 1, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2024

Revenue of $2.7B through the costs to a net profit of $243.1M · income statement of the 10-K

9% net margin
Revenue to Gross profit: $1.6BRevenue to Cost of revenue: $1.1BGross profit to Net profit: $243.1MGross profit to Costs, tax, other: $1.4B Revenue: $2.7B REVENUE $2.7B +24% Y/Y Gross profit: $1.6B · 60% margin GROSS PROFIT $1.6B 60% margin Cost of revenue: $1.1B · 40% of revenue COST OF REVENUE $1.1B 40% of revenue Net profit: $243.1M · 9% margin NET PROFIT $243.1M 9% margin · −21% Y/Y Costs, tax, other: $1.4B · 51% of revenue COSTS, TAX, OTHER $1.4B 51% of revenue
Gross profit $1.6B 60% margin
Net profit $243.1M 9% margin · −21% Y/Y
The full income statement, year by year

DOC among Real estate peers

Six ratios from the latest 10-K. Each corner is the share of 28 peers the company is above, not a score.

Compare
Revenue growth: 4.5%, above 39% of 28 peers (their median 5.2%) REVENUE GROWTH 4.5% · above 39% Net margin: 12.3%, above 29% of 28 peers (their median 21.8%) NET MARGIN 12.3% · above 29% FCF margin: 12.3%, above 45% of 11 peers (their median 36.0%) FCF MARGIN 12.3% · above 45%
DOC Peer median Below the median

What changed

19 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 3, 2026 against Feb 4, 2025.

Risk factors
19 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Critical audit matters changed
New this year: Impairments - Investments in Unconsolidated Joint Ventures (“The Company reviews its equity method investments for indicators of impairment. If an equity method investment shows indicators of impairment, the fair value of the equity method investment is compared to its carrying value. When the Company determines a decline in fair value below carrying value is”). No longer listed: Business Combination - Physicians Realty Trust Merger Valuation. Same as last year: Impairments - Real Estate
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Critical audit matters changed
    New this year: Impairments - Investments in Unconsolidated Joint Ventures (“The Company reviews its equity method investments for indicators of impairment. If an equity method investment shows indicators of impairment, the fair value of the equity method investment is compared to its carrying value. When the Company determines a decline in fair value below carrying value is”). No longer listed: Business Combination - Physicians Realty Trust Merger Valuation. Same as last year: Impairments - Real Estate
  • Receivables +2.0% vs revenue +4.5% (-2.5 pts)
8 more checks with nothing to note
  • Cash from operations $1.3B vs net income $71.3M (FY ending Dec 31, 2025)
  • Same auditor in both 10-Ks: Deloitte & Touche LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

19 paragraphs in Risk Factors that were not in the 10-K filed Feb 4, 2025. Quoted as filed.

All 19 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 4, 2025 10-K, ITEM 1A
    Changes to regulatory, funding, staffing, trade, and other policies and actions by the U.S. political administration could adversely affect our business operations or the operations of our tenants or operators. Recent and ongoing changes in U.S. federal government policy have introduced uncertainty to the capital markets, as well as…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 4, 2025 10-K, ITEM 1A
    Risks Related to the Pending Janus Living Offering and Our Relationship with Janus Living if the Janus Living Offering is Completed The pending Janus Living Offering may not be completed on the currently contemplated timeline or terms, or at all, and may not achieve the intended benefits. In December 2025, we confidentially submitted a…

New risk paragraphs, against peers

Latest 10-K of each, Real estate companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$2.1B$2.2B$2.7B$2.8B
Net income$500.4M$306.0M$243.1M$71.3M
Operating cash flow$900.3M$956.2M$1.1B$1.3B
Free cash flow−$61.7M$181.7M$333.7M$357.0M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$2.8B ▲ 4.5% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Healthpeak Properties, Denver, CO · from the 10-K filed Feb 3, 2026

Healthpeak Properties, Inc. is a Standard & Poor’s (“S&P”) 500 company that owns, operates, and develops high-quality real estate focused on healthcare discovery and delivery in the United States (“U.S.”). Our company was originally founded in 1985. We are organized as an umbrella partnership REIT (“UPREIT”). We hold substantially all of our assets and conduct our operations through our operating subsidiary, Healthpeak OP, a consolidated subsidiary of which we are the managing member. We are a Maryland corporation and qualify as a self-administered REIT.

Headquarters
Denver, CO
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Nov 2, 2026
Incorporated in
MD

Email alerts

Sources

The 10-K filed Feb 3, 2026 (open at SEC), compared with the 10-K filed Feb 4, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/DOC/export.csv") into a cell.