Healthpeak Properties, Inc. (DOC) vs Welltower Inc. (WELL)

Healthpeak Properties, Inc. and Welltower Inc. are both Reit Healthcare Facilities companies. Welltower Inc. is the larger, with a market value of $160.8B against $13.1B — 12.3× the size. Healthpeak Properties, Inc. trades at the lower P/E: 53.8× against 102×. Welltower Inc. grew revenue faster over the last twelve months: 37.6% against 5.52%. Welltower Inc. has the higher net margin (12.2% vs 8.23%) and the lower return on invested capital (0.54% vs 1.71%). Both pay a dividend; Healthpeak Properties, Inc. yields more (8.10% vs 1.36%). Across the 22 metrics below, Welltower Inc. leads on 12 and Healthpeak Properties, Inc. on 10.

Valuation

Metric DOC WELL Reit Healthcare Facilities median
P/E 53.80 101.50 22.66
P/S 4.40 12.59 5.18
P/B 1.37 3.39 1.80
Price to free cash flow n/m 17.36 17.10
EV/EBITDA 14.38 57.76 15.38
EV/Sales 7.22 13.81 8.25
Earnings yield 1.86% 0.99% 2.78%
Free cash flow yield (0.15%) 5.76% 3.52%

Profitability

Metric DOC WELL Reit Healthcare Facilities median
Gross margin 58.07% 39.56% 92.10%
Operating margin 16.49% 4.24% 21.06%
Net margin 8.23% 12.15% 10.19%
Free cash flow margin (0.66%) 72.52% 7.91%
Return on equity 2.69% 3.71% 4.06%
Return on assets 1.17% 2.47% 2.10%
Return on invested capital 1.71% 0.54% 1.96%

Growth

Metric DOC WELL Reit Healthcare Facilities median
Revenue growth (TTM) 5.52% 37.57% 15.71%
EPS growth (last fiscal year) (72.22%) (11.46%) 23.38%
Revenue growth, 5-year CAGR 11.40% 18.67% 9.60%
Net income growth, 5-year CAGR (29.72%) (0.87%) 0.00%

Health

Metric DOC WELL Reit Healthcare Facilities median
Debt to equity 1.06 0.37 0.84
Current ratio 3.02 3.16 3.05
Net debt to EBITDA 6.32 5.68 5.50

Dividend

Metric DOC WELL Reit Healthcare Facilities median
Dividend yield 8.10% 1.36% 5.71%
Payout ratio 4.36 1.41 1.41

Size

Metric DOC WELL Reit Healthcare Facilities median
Market cap 13.08b 160.75b 3.99b

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