DOC vs OHI: Healthpeak Properties and Omega Healthcare Investors compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Omega Healthcare Investors is the larger company, worth $14.1B, close to Healthpeak Properties's $12.8B.
- Healthpeak Properties grew revenue faster over the last year (+45.4% vs -95.0%).
- On earnings, Omega Healthcare Investors is the cheaper stock (21.8x vs 58.2x).
- Healthpeak Properties's price assumes faster free cash flow growth: about 13% a year, against 3% for Omega Healthcare Investors (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DOC | OHI |
|---|---|---|
| Market cap | $12.8B | $14.1B |
| Share price | $18.80 | $44.41 |
| Revenue (last fiscal year) | $604M | $1.2B |
| Free cash flow (last fiscal year) | $357M | $798M |
| Revenue growth, last year | +45.4% | -95.0% |
| Revenue growth per year, last 5 fiscal years | +6.4% | +2.9% |
| Operating margin | -287.3% | — |
| Net margin | 33.6% | 131.8% |
| Return on equity | 3.1% | 15.9% |
| P/E (trailing) | 58.2x | 21.8x |
| Price / free cash flow | 10.3x | 16.0x |
| EV / EBITDA | 10.9x | 12.0x |
| FCF growth the price implies | 12.7% | 3.3% |
| Dividend yield | 6.5% | 6.0% |
| Debt / equity | 1.55x | 0.81x |
| Fundamental grade | C | B |
| Superinvestors holding it | 2 | 0 |
| Insider purchases, last 12 months | 0 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Healthpeak Properties
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $471M | $36M | -268.9% |
| 2022 | $495M | -$62M | -281.7% |
| 2023 | $527M | $182M | -271.5% |
| 2024 | $568M | $334M | -368.9% |
| 2025 | $604M | $357M | -331.8% |
Omega Healthcare Investors
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.1B | $677M | — |
| 2022 | $878M | $579M | — |
| 2023 | $950M | $580M | — |
| 2024 | $1.1B | $712M | — |
| 2025 | $1.2B | $798M | — |
Where the revenue comes from
Healthpeak Properties · by segments, 2023
Omega Healthcare Investors
No segment breakdown reported.
Questions
Which is bigger, Healthpeak Properties or Omega Healthcare Investors?
Omega Healthcare Investors (OHI), at $14.1B against $12.8B.
Is DOC or OHI cheaper?
By trailing P/E, Omega Healthcare Investors (21.8x) is cheaper than Healthpeak Properties (58.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, DOC or OHI?
Healthpeak Properties: revenue grew +45.4% over the last year, against -95.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.