What is Healthpeak Properties, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Healthpeak Properties, Inc.'s reported free cash flow gives $0.98 per share. The share price was $20.49 on November 10, 2026, 1,986% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 6.5% | 10.0% | -$4.23 | -121% |
| Base | 11.5% | 9.0% | $0.98 | -95% |
| Bull | 16.5% | 8.0% | $11.37 | -44% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $4.95 | $6.17 | $7.67 | $9.55 | $11.95 |
| 8.0% | $1.98 | $2.77 | $3.71 | $4.84 | $6.22 |
| 9.0% | -$0.19 | $0.35 | $0.98 | $1.71 | $2.58 |
| 10.0% | -$1.83 | -$1.45 | -$1.01 | -$0.51 | $0.07 |
| 11.0% | -$3.12 | -$2.84 | -$2.52 | -$2.17 | -$1.76 |
Where the presets come from
Base: years 1 to 5 grow at Healthpeak Properties, Inc.'s revenue growth rate over the last 5 fiscal years (11.4% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions