Healthpeak Properties

DOC · Real Estate · Market cap $15.2B

Q3 FY25 Sep 30, 2025 reported Oct 24, 2025

Revenue$0.7B +1% year over year

Gross profit$0.4B

Operating profit$0.1B

Net profit$-0.1B -17% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.7	100%	+1%
Outpatient medical	0.3	43%	+3%
Lab	0.2	29%	−5%
CCRC	0.2	29%	+5%
Cost of revenue	−0.3	43%
Gross profit	0.4	59% margin	−1pp
G&A	−0	3%	+0pp
Other	−0.4	48%	+0pp
Operating profit	0.1	7% margin	+2pp
Interest & other costs	−0.2
Net profit	-0.1	-17%	−29pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.7	100%	+0%
Outpatient medical	0.3	43%
Lab	0.2	29%	−2%
CCRC	0.1	14%	+6%
Cost of revenue	−0.3	43%
Gross profit	0.4	60% margin	+0pp
G&A	−0	3%	−1pp
Other	−0.4	51%	+0pp
Operating profit	0	6% margin	+2pp
Net profit	0	5%	−16pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.7	100%	+16%
Outpatient medical	0.3	43%
Lab	0.2	29%
CCRC	0.1	14%
Cost of revenue	−0.3	43%
Gross profit	0.4	61% margin	+1pp
G&A	−0	4%	+0pp
Other	−0.4	49%	+0pp
Operating profit	0.1	9% margin	+18pp
Net profit	0	6%	+5pp

All figures in billions of U.S. dollars, for Q3 FY24 (period ends Sep 30, 2024).
Item	Value	Share of revenue	Year over year
Revenue	0.7	100%	+26%
Outpatient medical	0.3	43%
Lab	0.2	29%
CCRC	0.1	14%
Cost of revenue	−0.3	43%
Gross profit	0.4	60% margin	+2pp
G&A	−0	3%	−1pp
Other	−0.4	52%	+0pp
Operating profit	0	5% margin	−7pp
Net profit	0.1	12%	+1pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q3 FY25	Sep 30, 2025	Oct 24, 2025	$0.7B	+1%	14%	$-0.1B	-17%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 25, 2025	$0.7B	+0%	0%	$0B	5%
Q1 FY25	Jan 1 – Mar 31, 2025	Apr 25, 2025	$0.7B	+16%	14%	$0B	6%
Q3 FY24	Jul 1 – Sep 30, 2024	Oct 25, 2024	$0.7B	+26%	0%	$0.1B	12%