Healthpeak Properties Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	2,143	2,087	1,632	1,542	1,378	1,182
Other Revenue	594.2	568.48	527.42	494.94	471.33	436.49
Total Revenue	2,801	2,700	2,181	2,061	1,896	1,645
Revenue Growth (YoY	9.58%	23.82%	5.81%	8.70%	15.28%	32.62%
Property Expenses	1,120	1,070	900.58	859.84	767.12	794.88
Selling, General & Administrative	99.72	106.16	103.13	99.03	106.3	99.24
Depreciation & Amortization	1,071	1,057	749.9	710.57	684.29	553.95
Provision for Loan Losses	-7.67	-7.67	-2.09	-	-	-
Total Operating Expenses	2,299	2,241	1,756	1,669	1,558	1,448
Operating Income	502.45	459.87	425.31	391.73	338.48	196.81
Interest Expense	-295.05	-280.43	-200.33	-172.94	-157.98	-218.34
Income (Loss) on Equity Investments	-176.8	-1.52	10.2	1.99	6.1	-66.6
Other Non-Operating Income	-33.82	-18.2	6.39	-14.63	8.81	48.49
EBT Excluding Unusual Items	-3.21	159.72	241.57	206.15	195.41	-39.64
Merger & Restructuring Charges	-18	-129	-11	-	-	-
Gain (Loss) on Sale of Investments	-	77.55	0.23	-	-	170
Gain (Loss) on Sale of Assets	4.21	178.7	86.46	343.21	190.59	90.35
Asset Writedown	-3.85	-15.31	7.69	-7	-23.16	-42.91
Other Unusual Items	-	-	0.18	-26.24	-228.37	-26.71
Pretax Income	-20.85	271.65	325.14	509.12	134.47	151.08
Income Tax Expense	-10.76	4.35	-9.62	-4.43	-3.26	-9.42
Earnings From Continuing Operations	-10.09	267.3	334.76	513.54	137.73	160.51
Earnings From Discontinued Operations	-	-	-	2.88	385.66	267.45
Net Income to Company	-10.09	267.3	334.76	516.42	523.39	427.96
Minority Interest in Earnings	-27.98	-24.16	-28.75	-15.98	-17.85	-14.39
Net Income	-38.07	243.14	306.01	500.45	505.54	413.56
Preferred Dividends & Other Adjustments	0.86	0.76	1.73	2.66	3.27	2.42
Net Income to Common	-38.94	242.38	304.28	497.79	502.27	411.15
Net Income Growth	-	-20.54%	-38.85%	-1.01%	22.24%	808.33%
Basic Shares Outstanding	697	676	547	539	539	531
Diluted Shares Outstanding	697	676	547	539	539	531
Shares Change (YoY)	9.31%	23.56%	1.51%	-0.02%	1.54%	8.53%
EPS (Basic)	-0.06	0.36	0.56	0.92	0.93	0.77
EPS (Diluted)	-0.06	0.36	0.56	0.92	0.93	0.77
EPS Growth	-	-35.54%	-39.79%	-0.87%	20.47%	755.21%
Dividend Per Share	1.215	1.200	1.200	1.200	1.200	1.480
Dividend Growth	1.25%	-	-	-	-18.92%	-
Operating Margin	17.94%	17.03%	19.50%	19.00%	17.85%	11.96%
Profit Margin	-1.39%	8.98%	13.95%	24.15%	26.49%	25.00%
EBITDA	1,513	1,456	1,151	1,081	1,004	741.04
EBITDA Margin	54.01%	53.92%	52.78%	52.43%	52.96%	45.05%
D&A For Ebitda	1,010	996.31	725.89	688.93	665.69	544.23
EBIT	502.45	459.87	425.31	391.73	338.48	196.81
EBIT Margin	17.94%	17.03%	19.50%	19.00%	17.85%	11.96%
Funds From Operations (FFO)	1,247	1,093	985.18	895.17	604.73	693.37
FFO Per Share	1.78	1.61	1.79	-	-	1.30
Adjusted Funds From Operations (AFFO)	-	1,232	978.31	940.93	870.65	874.19
AFFO Per Share	1.84	1.81	1.78	-	-	1.64
FFO Payout Ratio	67.91%	72.73%	66.69%	72.39%	107.50%	113.51%
Effective Tax Rate	-	1.60%	-	-	-	-
Revenue as Reported	2,801	2,700	2,181	2,061	1,896	1,645

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