Filing Flows › Healthpeak Properties (DOC) › Q2 2025
Healthpeak Properties (DOC) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 25, 2025
Healthpeak Properties (DOC) reported revenue of $694M for the second quarter 2025 (Q2 2025), -0.2% from a year earlier and -1% from the quarter before. Operating margin was 6.2%, net earnings $31.7M (4.6% of revenue).
Healthpeak Properties, Q2 2025: revenue $694M (-0.2% year over year), operating margin 6.2%, net earnings $31.7M, operating cash flow $363M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $694M | -1% | -0.2% |
| Operating profit | $42.7M | -29% | +46% |
| Net earnings | $31.7M | -26% | -78% |
| Operating cash flow | $363M | +30% | +15% |
| Free cash flow | $205M | +81% | +6% |
What changed
Revenue was $694.3M in Q2 2025, roughly flat year over year and down 1% from the previous quarter.
Operating profit was $42.7M, a 6.2% margin (up 1.9 points year over year). Total costs fell 2% while revenue was flat. Net earnings were $31.7M, down 78% year over year. The effective tax rate was 5.8%.
Operating cash flow was $363.5M (up 15% year over year), 932% of net income including minority interests. Non-cash charges added back $265.9M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $56.8M. Capital expenditures of $158.3M left free cash flow of $205.2M.
Questions
What was Healthpeak Properties' revenue in the second quarter 2025?
Healthpeak Properties (DOC) reported revenue of $694M for the second quarter 2025 (Q2 2025), -0.2% from a year earlier and -1% from the quarter before.
Was Healthpeak Properties profitable in the second quarter 2025?
Operating profit was $42.7M (6.2% of revenue) and net earnings $31.7M.