Healthpeak Properties Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	2,157	2,087	1,632	1,542	1,378
Other Revenue	603.77	570.25	527.2	494.94	471.33
Total Revenue	2,823	2,700	2,181	2,061	1,896
Revenue Growth (YoY	4.52%	23.82%	5.81%	8.70%	15.28%
Property Expenses	1,127	1,070	900.58	859.84	767.12
Selling, General & Administrative	100.42	106.16	103.13	99.03	106.3
Depreciation & Amortization	1,059	1,057	749.9	710.57	684.29
Provision for Loan Losses	-3.12	-7.67	-2.09	-	-
Total Operating Expenses	2,289	2,241	1,756	1,669	1,558
Operating Income	533.49	459.87	425.31	391.73	338.48
Interest Expense	-305.18	-280.43	-200.33	-172.94	-157.98
Income (Loss) on Equity Investments	-173.98	-1.52	10.2	1.99	6.1
Other Non-Operating Income	1.48	10.8	3.39	-14.63	8.81
EBT Excluding Unusual Items	55.81	188.72	238.57	206.15	195.41
Merger & Restructuring Charges	-18	-129	-11	-	-
Gain (Loss) on Sale of Investments	-	77.55	-	-	-
Gain (Loss) on Sale of Assets	69.49	178.7	86.46	343.21	190.59
Total Insurance Settlements	-	-	3	-	-
Asset Writedown	4.02	-15.31	7.69	-7	-23.16
Other Unusual Items	-1	-29	0.42	-26.24	-228.37
Pretax Income	110.31	271.65	325.14	509.12	134.47
Income Tax Expense	9.28	4.35	-9.62	-4.43	-3.26
Earnings From Continuing Operations	101.03	267.3	334.76	513.54	137.73
Earnings From Discontinued Operations	-	-	-	2.88	385.66
Net Income to Company	101.03	267.3	334.76	516.42	523.39
Minority Interest in Earnings	-29.68	-24.16	-28.75	-15.98	-17.85
Net Income	71.35	243.14	306.01	500.45	505.54
Preferred Dividends & Other Adjustments	0.83	0.76	1.73	2.66	3.27
Net Income to Common	70.51	242.38	304.28	497.79	502.27
Net Income Growth	-70.66%	-20.54%	-38.85%	-1.01%	22.24%
Basic Shares Outstanding	696	676	547	539	539
Diluted Shares Outstanding	696	676	547	539	539
Shares Change (YoY)	2.93%	23.56%	1.51%	-0.02%	1.54%
EPS (Basic)	0.10	0.36	0.56	0.92	0.93
EPS (Diluted)	0.10	0.36	0.56	0.92	0.93
EPS Growth	-72.11%	-35.54%	-39.79%	-0.87%	20.47%
Dividend Per Share	1.220	1.200	1.200	1.200	1.200
Dividend Growth	1.67%	-	-	-	-18.92%
Operating Margin	18.90%	17.03%	19.50%	19.00%	17.85%
Profit Margin	2.50%	8.98%	13.95%	24.15%	26.49%
EBITDA	1,556	1,456	1,151	1,081	1,004
EBITDA Margin	55.12%	53.92%	52.78%	52.43%	52.96%
D&A For Ebitda	1,022	996.31	725.89	688.93	665.69
EBIT	533.49	459.87	425.31	391.73	338.48
EBIT Margin	18.90%	17.03%	19.50%	19.00%	17.85%
Funds From Operations (FFO)	1,269	1,093	985.18	895.17	604.73
Adjusted Funds From Operations (AFFO)	1,292	1,232	978.31	940.93	870.65
FFO Payout Ratio	66.91%	72.73%	66.69%	72.39%	107.50%
Effective Tax Rate	8.42%	1.60%	-	-	-
Revenue as Reported	2,823	2,700	2,181	2,061	1,896

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.