DOC and 9 peers, year by year
The 9 Real estate companies closest to DOC in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.
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| Company | Year | Revenue | Sales growth | Gross margin | Operating margin | Net margin | FCF margin | Return on equity | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|
| DOC Healthpeak Properties | FY2025 | $2.8B | +6.2% | - | - | 2.5% | 12.6% | 1.0% | 1.31 |
| INVH Invitation Homes | FY2025 | $2.7B | +4.2% | - | - | 21.5% | - | 6.2% | 0.88 |
| SBAC SBA Communications | FY2025 | $2.8B | +59.9% | 75.5% | 47.7% | 37.4% | 37.9% | n/m | n/m |
| ARE Alexandria Real Estate Equities | FY2025 | $3.0B | −2.9% | - | - | −47.2% | - | −9.2% | 0.80 |
| EXR Extra Space Storage | FY2025 | $3.4B | +7.1% | - | 41.8% | 28.8% | 38.1% | 7.3% | - |
| BXP BXP, Inc. | FY2025 | $3.5B | +2.2% | 59.1% | - | 7.9% | - | 5.4% | 0.15 |
| CSGP CoStar Group | FY2025 | $3.2B | +18.7% | 78.9% | −2.2% | 0.2% | 3.8% | 0.1% | 0.02 |
| MAA Mid-America Apartment Communities | FY2025 | $2.2B | +0.8% | - | - | 20.2% | - | 7.9% | - |
| KIM Kimco Realty | FY2025 | $2.1B | +5.1% | - | 36.0% | 27.3% | 51.5% | 5.6% | 0.74 |
| CCI Crown Castle | FY2025 | $4.3B | +12.0% | - | 48.7% | 10.4% | 67.4% | n/m | n/m |
Revenue, FY2021 to FY2025
Revenue as reported in the 10-K.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | $1.9B | $2.1B | $2.2B | $2.7B | $2.8B |
| INVH Dec | $2.0B | $2.2B | $2.4B | $2.6B | $2.7B |
| SBAC Dec | $2.3B | $2.6B | $2.7B | $2.7B | $2.8B |
| ARE Dec | $2.1B | $2.6B | $2.9B | $3.1B | $3.0B |
| EXR Dec | $1.6B | $1.9B | $2.6B | $3.3B | $3.4B |
| BXP Dec | $2.9B | $3.1B | $3.3B | $3.4B | $3.5B |
| CSGP Dec | $1.9B | $2.2B | $2.5B | $2.7B | $3.2B |
| MAA Dec | $1.8B | $2.0B | $2.1B | $2.2B | $2.2B |
| KIM Dec | $1.4B | $1.7B | $1.8B | $2.0B | $2.1B |
| CCI Dec | $6.3B | $7.0B | $4.7B | $4.5B | $4.3B |
| Peer median | $2.0B | $2.2B | $2.6B | $2.7B | $3.0B |
Sales growth, FY2021 to FY2025
Revenue against the fiscal year before.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | +8.0% | +5.0% | +6.6% | +7.8% | +6.2% |
| INVH Dec | +9.5% | +12.1% | +8.7% | +7.7% | +4.2% |
| SBAC Dec | +59.1% | +45.0% | −34.4% | −21.5% | +59.9% |
| ARE Dec | +12.1% | +22.5% | +11.5% | +8.0% | −2.9% |
| EXR Dec | +27.1% | +26.6% | +21.6% | +18.5% | +7.1% |
| BXP Dec | +4.4% | +7.6% | +5.3% | +4.1% | +2.2% |
| CSGP Dec | +17.2% | +12.3% | +12.5% | +11.4% | +18.7% |
| MAA Dec | +6.0% | +13.6% | +6.4% | +2.0% | +0.8% |
| KIM Dec | +29.0% | +26.6% | +3.2% | +14.2% | +5.1% |
| CCI Dec | +19.4% | +12.2% | −35.6% | −54.4% | +12.0% |
| Peer median | +17.2% | +13.6% | +6.4% | +7.7% | +5.1% |
Gross margin, FY2021 to FY2025
Gross profit / revenue.Operating margin, FY2021 to FY2025
Operating income / revenue.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | - | - | - | - | - |
| INVH Dec | - | - | - | - | - |
| SBAC Dec | 33.9% | 35.1% | 34.1% | 53.6% | 47.7% |
| ARE Dec | - | - | - | - | - |
| EXR Dec | 61.9% | 54.6% | 45.7% | 40.6% | 41.8% |
| BXP Dec | - | - | - | - | - |
| CSGP Dec | 22.2% | 20.7% | 11.5% | 0.2% | −2.2% |
| MAA Dec | - | - | - | - | - |
| KIM Dec | 31.1% | 32.7% | 35.8% | 30.9% | 36.0% |
| CCI Dec | 31.6% | 34.7% | 44.3% | 47.5% | 48.7% |
| Peer median | 31.6% | 34.7% | 35.8% | 40.6% | 41.8% |
Net margin, FY2021 to FY2025
Net income / revenue.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | 26.7% | 24.3% | 14.0% | 9.0% | 2.5% |
| INVH Dec | 13.1% | 17.1% | 21.4% | 17.3% | 21.5% |
| SBAC Dec | 10.3% | 17.5% | 18.5% | 28.0% | 37.4% |
| ARE Dec | 27.0% | 20.1% | 3.6% | 10.4% | −47.2% |
| EXR Dec | 52.5% | 44.7% | 31.4% | 26.2% | 28.8% |
| BXP Dec | 17.5% | 27.3% | 5.8% | 0.4% | 7.9% |
| CSGP Dec | 15.1% | 16.9% | 15.3% | 5.1% | 0.2% |
| MAA Dec | 30.0% | 31.6% | 25.7% | 24.1% | 20.2% |
| KIM Dec | 61.9% | 7.3% | 36.7% | 20.2% | 27.3% |
| CCI Dec | 17.3% | 24.0% | 31.7% | −87.5% | 10.4% |
| Peer median | 17.5% | 20.1% | 21.4% | 17.3% | 20.2% |
Free cash flow, FY2021 to FY2025
Cash from operations minus capital spending.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | $35.5M | −$61.7M | $181.7M | $333.7M | $357.0M |
| INVH Dec | - | - | - | - | - |
| SBAC Dec | $1.1B | $1.1B | $1.3B | $1.1B | $1.1B |
| ARE Dec | - | - | - | - | - |
| EXR Dec | - | $44.9M | $1.3B | $1.4B | $1.3B |
| BXP Dec | - | - | - | - | - |
| CSGP Dec | $346.0M | $443.5M | $372.0M | −$186.0M | $123.0M |
| MAA Dec | - | - | - | - | - |
| KIM Dec | - | - | - | - | $1.1B |
| CCI Dec | $1.6B | $1.6B | $2.9B | $2.8B | $2.9B |
| Peer median | $1.1B | $757.4M | $1.3B | $1.3B | $1.1B |
FCF margin, FY2021 to FY2025
Free cash flow / revenue.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | 1.9% | −3.0% | 8.3% | 12.4% | 12.6% |
| INVH Dec | - | - | - | - | - |
| SBAC Dec | 45.7% | 40.7% | 48.2% | 41.3% | 37.9% |
| ARE Dec | - | - | - | - | - |
| EXR Dec | - | 2.3% | 49.5% | 43.2% | 38.1% |
| BXP Dec | - | - | - | - | - |
| CSGP Dec | 17.8% | 20.3% | 15.2% | −6.8% | 3.8% |
| MAA Dec | - | - | - | - | - |
| KIM Dec | - | - | - | - | 51.5% |
| CCI Dec | 24.6% | 22.4% | 60.9% | 62.0% | 67.4% |
| Peer median | 24.6% | 21.4% | 48.9% | 42.3% | 38.1% |
Return on equity, FY2021 to FY2025
Net income / shareholders' equity at the year end.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | 7.8% | 7.5% | 4.8% | 2.9% | 1.0% |
| INVH Dec | 2.7% | 3.7% | 5.1% | 4.7% | 6.2% |
| SBAC Dec | n/m | n/m | n/m | n/m | n/m |
| ARE Dec | 3.5% | 2.7% | 0.6% | 1.8% | −9.2% |
| EXR Dec | 26.6% | 26.4% | 5.6% | 6.1% | 7.3% |
| BXP Dec | 8.7% | 13.8% | 3.2% | 0.3% | 5.4% |
| CSGP Dec | 5.1% | 5.4% | 5.1% | 1.8% | 0.1% |
| MAA Dec | 8.9% | 10.6% | 9.1% | 8.9% | 7.9% |
| KIM Dec | 8.5% | 1.3% | 6.9% | 3.9% | 5.6% |
| CCI Dec | 13.3% | 22.5% | 23.5% | n/m | n/m |
| Peer median | 8.6% | 8.0% | 5.3% | 3.9% | 5.6% |
Debt / equity, FY2021 to FY2025
Total debt / shareholders' equity at the year end.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | 0.95 | 0.98 | 1.08 | 1.04 | 1.31 |
| INVH Dec | 0.82 | 0.75 | 0.84 | 0.84 | 0.88 |
| SBAC Dec | n/m | n/m | n/m | n/m | n/m |
| ARE Dec | 0.54 | 0.54 | 0.61 | 0.68 | 0.80 |
| EXR Dec | - | - | - | 0.04 | - |
| BXP Dec | 0.57 | - | 0.00 | 0.09 | 0.15 |
| CSGP Dec | 0.18 | 0.15 | 0.14 | 0.13 | 0.02 |
| MAA Dec | - | - | - | - | - |
| KIM Dec | 0.71 | 0.71 | 0.76 | 0.75 | 0.74 |
| CCI Dec | 2.51 | 3.03 | 3.72 | n/m | n/m |
| Peer median | 0.64 | 0.71 | 0.69 | 0.41 | 0.74 |
EPS (diluted), FY2021 to FY2025
Diluted earnings per share, on today's share count after splits.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| DOC Dec | $0.93 | $0.92 | $0.56 | $0.36 | $0.10 |
| INVH Dec | $0.45 | $0.63 | $0.85 | $0.74 | $0.96 |
| SBAC Dec | $2.14 | $4.22 | $4.61 | $6.94 | $9.80 |
| ARE Dec | $3.82 | $3.18 | $0.54 | $1.80 | −$8.44 |
| EXR Dec | $6.19 | $6.41 | $4.74 | $4.03 | $4.59 |
| BXP Dec | $3.17 | $5.40 | $1.21 | $0.09 | $1.74 |
| CSGP Dec | $0.74 | $0.93 | $0.92 | $0.34 | $0.02 |
| MAA Dec | $4.61 | $5.48 | $4.71 | $4.49 | $3.78 |
| KIM Dec | - | - | - | - | - |
| CCI Dec | $2.53 | $3.86 | $3.46 | −$8.98 | $1.01 |
| Peer median | $2.85 | $4.04 | $2.33 | $1.27 | $1.38 |
Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out DOC and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →
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