WELL · Welltower Inc.

$243.73 -4.61 (-1.86%) At close · Jul 28

Market Cap

$175.31B

705.91M

Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.

Revenue

$10.84B +35.6%

FY2025

Net Income

$961.84M -1.1%

FY2025

Gross Margin

40.14% +0.6pp

FY2025

Diluted EPS

$1.39 -11.5%

FY2025

Operating Cash Flow

$2.88B +27.7%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Revenue	+22.7%	+18.7%	+10.9%	—	$11.77B	$10.84B	$7.99B	$6.64B	$5.86B	$4.74B	$4.61B	$5.12B	$4.7B	$4.32B	$4.28B	$3.86B	$3.34B	$2.88B	$1.81B	$1.31B	$569.37M	$475.87M	$489.85M
Rental Income	+10.7%	+6.4%	+2.1%	—	$1.96B	$1.97B	$1.57B	$1.56B	$1.45B	$1.37B	$1.44B	$1.59B	$1.38B	$1.45B	$1.65B	$1.6B	$1.41B	$1.23B	$1.06B	$804.73M	$470.27M	$427.2M	$439.27M
Cost of Revenue	+22.2%	+20.1%	—	—	$7.08B	$6.49B	$4.83B	$3.95B	$3.56B	$2.77B	$2.6B	$2.69B	$2.43B	$2.08B	—	—	—	—	—	—	—	—	—
Gross Profit	+23.6%	+16.7%	—	—	$4.69B	$4.35B	$3.16B	$2.69B	$2.3B	$1.97B	$2.01B	$2.43B	$2.27B	$2.23B	—	—	—	—	—	—	—	—	—
Gross Margin	—	—	—	—	—	40.14%	39.56%	40.53%	39.28%	41.49%	43.6%	47.47%	48.24%	51.72%	—	—	—	—	—	—	—	—	—
Selling, General & Administrative	+126.5%	+68.6%	+28.1%	—	$1.75B	$1.75B	$235.49M	$179.09M	$150.39M	$126.73M	$128.39M	$126.55M	$126.38M	$122.01M	$155.24M	$147.42M	$142.94M	$108.32M	$97.34M	$77.2M	$54.63M	$49.69M	$47.19M
Depreciation & Amortization	+16.7%	+15.0%	+9.7%	—	$2.22B	$2.08B	$1.63B	$1.4B	$1.31B	$1.04B	$1.04B	$1.03B	$950.46M	$921.72M	$901.24M	$826.24M	$844.13M	$873.96M	$533.59M	$423.61M	$202.54M	$164.92M	$163.05M
Impairment of Real Estate	—	+33.6%	—	—	—	—	—	—	—	—	—	—	—	$124.48M	$37.21M	$2.22M	$0	$0	$29.29M	$12.19M	$947K	$25.22M	$32.65M
Total Operating Expenses	+9.9%	+9.0%	+28.0%	—	$4.64B	—	—	—	—	—	—	—	$4.28B	$4.02B	$3.57B	$3.22B	$2.96B	$2.78B	$1.62B	$1.2B	$535.25M	$351.92M	$362.36M
Total Costs & Expenses	+25.8%	+19.5%	—	—	$12.1B	$11.32B	$7.47B	$6.29B	$5.69B	$4.57B	$4.64B	$4.58B	$4.28B	$4.02B	—	—	—	—	—	—	—	—	—
Other Non-Operating Income	—	—	—	—	-$119.36M	—	—	-$108.34M	-$101.67M	-$41.74M	-$70.34M	-$52.61M	-$112.9M	—	—	—	—	—	$1.25B	$946.22M	$491.59M	$434.18M	$526.14M
Gain on Sales of Real Estate	-60.3%	-30.4%	+3.3%	—	—	—	—	$67.9M	$16.04M	$235.38M	$1.09B	$748.04M	$415.58M	$344.25M	$364.05M	$280.39M	$153.52M	$49.14M	—	—	—	—	—
Equity in Earnings of Unconsolidated Entities	—	—	—	—	-$17.25M	-$14.3M	-$496K	-$53.44M	-$21.29M	-$22.93M	-$8.08M	$42.43M	-$641K	-$83.13M	-$10.36M	-$21.5M	-$27.43M	-$8.19M	$2.48M	$5.77M	$6.67M	$0	—
Pretax Income	+45.4%	-0.7%	+3.2%	—	—	—	$524.44M	$350.05M	$173.06M	$170.75M	-$31.55M	$542.89M	$423.49M	$299.62M	$709.25M	$636.12M	$384.21M	$102.25M	$185.91M	$112.2M	$34.12M	$123.95M	$127.49M
Income Tax	—	—	—	—	$10.04M	-$7.12M	$2.7M	$6.36M	$7.25M	$8.71M	$9.97M	$2.96M	$8.67M	$20.13M	-$19.13M	$6.45M	-$1.27M	$7.49M	$7.61M	-$1.39M	$364K	$168K	$1.31M
Net Income	+81.6%	-1.5%	+0.8%	—	$1.46B	$961.84M	$972.86M	$358.14M	$160.57M	$374.48M	$1.04B	$1.33B	$829.75M	$540.61M	$1.08B	$888.55M	$512.3M	$138.28M	$294.84M	$217.61M	$128.53M	$193.27M	$283.3M
Net Margin	—	—	—	—	—	8.87%	12.17%	5.4%	2.74%	7.9%	22.55%	25.98%	17.65%	12.52%	25.28%	23.02%	15.32%	4.8%	16.33%	16.57%	22.57%	40.61%	57.83%
Net Income Attributable to Noncontrolling Interests	+8.9%	-16.1%	+17.9%	—	$49.34M	$24.99M	$21.18M	$18.05M	$19.35M	$38.34M	$60.01M	$97.98M	$24.8M	$17.84M	$4.27M	$4.8M	$147K	-$6.77M	-$2.42M	-$4.89M	$357K	-$342K	$126K
Net Income Available to Common Stockholders	+87.9%	-0.9%	+1.4%	—	$1.41B	$936.85M	$951.68M	$340.09M	$141.21M	$336.14M	$978.84M	$1.23B	$758.25M	$463.6M	$1.01B	$818.34M	$446.75M	$78.71M	$221.88M	$157.11M	$106.88M	$171.19M	$260.1M
Comprehensive Income	+91.9%	+1.4%	+1.5%	—	$1.37B	$1.01B	$802.03M	$309.33M	$142.82M	$363.33M	$942.5M	$1.25B	$786.65M	$580.84M	$996.52M	$872.52M	$459.68M	$105.01M	$293.33M	$206.99M	$121.03M	$191.49M	$289.57M
EPS (Basic) USD/shares	+65.7%	-9.8%	-5.0%	—	—	$1.41	$1.58	$0.66	$0.31	$0.79	$2.36	$3.07	$2.03	$1.26	$2.83	$2.35	$1.46	$0.28	$0.99	$0.90	$0.84	$1.50	$2.77
EPS (Diluted) USD/shares	+66.7%	-9.8%	-5.1%	$3.11 – $3.19	—	$1.39^G	$1.57^G	$0.66^G	$0.30	$0.78	$2.33	$3.05	$2.02	$1.26	$2.81	$2.34	$1.45	$0.28	$0.98	$0.90	$0.83	$1.49	$2.76
Shares Outstanding (Basic Avg) shares	+12.9%	+9.9%	+6.7%	—	—	665.64M	602.98M	515.63M	462.19M	424.98M	415.45M	401.85M	373.62M	367.24M	358.28M	348.24M	306.27M	276.93M	224.34M	173.74M	127.66M	114.21M	93.73M
Shares Outstanding (Diluted Avg) shares	+13.5%	+10.2%	+6.9%	—	—	679.52M	608.75M	518.7M	465.16M	426.84M	417.39M	403.81M	375.25M	369M	360.23M	349.42M	307.75M	278.76M	225.95M	174.4M	128.21M	114.61M	94.31M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2008–FY2025: $7.66M in buybacks, $18.19B in dividends.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

—

EV/EBIT

—

P/E (TTM)

123.55×

Peer median 35.33×

P/FFO (FY2025)

96.43×

Peer median 25.47×

Peer medians compare against the 12 similar-size REIT - Healthcare Facilities companies (of 18 listed).

P/FFO uses the company-stated “Funds from operations attributable to common stockholders”, extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Senior Housing Operating	$8,489,095,000	$6,035,461,000	$4,763,547,000	$4,237,550,000	$3,213,250,000	$3,081,863,000	$3,456,869,000	$3,240,454,000
Triple Net	$1,197,042,000	$788,771,000	$887,106,000	$790,711,000	$890,584,000	$801,304,000	$972,643,000	$900,964,000
Outpatient Medical	$781,932,000	$802,113,000	$750,489,000	$678,455,000	$635,289,000	$720,019,000	$687,828,000	$556,806,000

By Geography (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
United States	$7,936,873,000	$6,564,077,000	$5,521,933,000	$4,843,417,000	$3,766,707,000	$3,720,155,000	$4,205,492,000	$3,777,960,000
United Kingdom	$2,166,820,000	$872,479,000	$606,750,000	$558,308,000	$552,650,000	$451,399,000	$452,698,000	$452,956,000
Canada	$734,341,000	$554,562,000	$509,312,000	$458,890,000	$422,758,000	$434,413,000	$463,116,000	$469,583,000

By Product & Service (USD)

Component	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Management Service	$4,173,711,000	$3,197,223,000	$3,074,022,000	$3,448,175,000	$3,234,852,000	$2,779,423,000
Interest Revenue	$150,571,000	$137,563,000	$69,156,000	$63,830,000	$55,814,000	$73,811,000
Product And Service Other	$84,547,000	$32,634,000	$19,429,000	$20,901,000	$29,411,000	$17,536,000

Key facts CIK 766704 CUSIP 95040Q104 13F (30d) 566 filings 526 filers Visit website Investor relations