Healthpeak Properties, Inc. — Earnings Quality Grade F
DOC · Real Estate
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 10 days, change -0 days YoY
AR growth 2.0% vs revenue growth 4.5%
Revenue 4.5%, CFFO 17.0%. Cash follows revenue
Expense Quality
No material inventory
Insufficient data
SG&A/Gross Profit = 5.3%, excellent (<30%)
Gross margin 60.0%, change -0.2pp. Stable
Cash Flow Quality
CFFO far exceeds NI (ratio 17.5x). Non-cash charges depressing profits
FCF $1.3B, FCF/NI = 17.55
Accruals ratio = -5.8%. Low accruals
Cash $0.5B covers only 5% of debt $10.1B
Balance Sheet Health
Goodwill+Intangibles $0.7B = 10% of equity. Manageable
Debt/EBITDA = 6.2x (>4x). Interest coverage = 1.8x (<2x). Financial stress
Other assets 8.0% vs revenue 4.5%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -18% YoY. Normal
Manipulation Score
M-Score = -2.75 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score — Not Applicable
Healthpeak Properties, Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09