Healthpeak Properties, Inc. (DOC) vs Ventas, Inc. (VTR)

Healthpeak Properties, Inc. and Ventas, Inc. are both Reit Healthcare Facilities companies. Ventas, Inc. is the larger, with a market value of $45.5B against $14.4B — 3.2× the size. Healthpeak Properties, Inc. trades at the lower P/E: 58.0× against 157×. Ventas, Inc. grew revenue faster over the last twelve months: 21.5% against 5.52%. Healthpeak Properties, Inc. has the higher net margin (8.23% vs 4.08%) and the lower return on invested capital (1.71% vs 2.06%). Both pay a dividend; Healthpeak Properties, Inc. yields more (6.75% vs 3.95%). Across the 22 metrics below, Healthpeak Properties, Inc. leads on 13 and Ventas, Inc. on 9.

Valuation

Metric DOC VTR Reit Healthcare Facilities median
P/E 58.03 157.44 23.53
P/S 4.75 6.58 5.39
P/B 1.48 2.88 1.88
Price to free cash flow n/m 30.33 17.82
EV/EBITDA 15.07 22.81 15.62
EV/Sales 7.57 8.51 8.52
Earnings yield 1.72% 0.64% 2.66%
Free cash flow yield (0.14%) 3.30% 3.37%

Profitability

Metric DOC VTR Reit Healthcare Facilities median
Gross margin 58.07% 94.82% 92.10%
Operating margin 16.49% 13.93% 21.06%
Net margin 8.23% 4.08% 10.19%
Free cash flow margin (0.66%) 21.68% 7.91%
Return on equity 2.69% 2.00% 4.06%
Return on assets 1.17% 0.94% 2.10%
Return on invested capital 1.71% 2.06% 1.96%

Growth

Metric DOC VTR Reit Healthcare Facilities median
Revenue growth (TTM) 5.52% 21.49% 15.71%
EPS growth (last fiscal year) (72.22%) 184.21% —
Revenue growth, 5-year CAGR 11.40% 8.98% 9.60%
Net income growth, 5-year CAGR (29.72%) (10.56%) 0.00%

Health

Metric DOC VTR Reit Healthcare Facilities median
Debt to equity 1.06 0.86 0.84
Current ratio 3.02 0.44 3.05
Net debt to EBITDA 6.32 5.48 5.50

Dividend

Metric DOC VTR Reit Healthcare Facilities median
Dividend yield 6.75% 3.95% 7.11%
Payout ratio 1.22 8.18 2.85

Size

Metric DOC VTR Reit Healthcare Facilities median
Market cap 14.40b 45.53b 4.18b

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