Comprehensive Stock Comparison
Compare Ventas, Inc. (VTR) vs Welltower Inc. (WELL) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | WELL | 38.0% revenue growth vs VTR's 18.5% |
| Value | WELL | Lower P/E (73.3x vs 114.3x) |
| Quality / Margins | WELL | 8.6% net margin vs VTR's 4.3% |
| Stability / Safety | VTR | Beta 0.23 vs WELL's 0.29 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | WELL | +36.8% vs VTR's +27.3% |
| Efficiency (ROA) | WELL | 1.4% ROA vs VTR's 0.9%, ROIC 0.9% vs 2.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Ventas is a healthcare-focused real estate investment trust that owns and operates senior housing communities, medical office buildings, and life science research facilities. It generates revenue primarily through rental income from its diversified portfolio — roughly 60% from senior housing, 25% from medical office buildings, and 15% from life science and hospital properties. The company's competitive advantage lies in its scale, diversified healthcare property portfolio, and long-term relationships with leading healthcare operators across multiple care settings.
Welltower is a healthcare-focused real estate investment trust that owns and invests in seniors housing communities, post-acute care facilities, and outpatient medical properties. It generates revenue primarily through rental income from its healthcare real estate portfolio — with seniors housing contributing roughly 60% of net operating income, outpatient medical properties about 25%, and post-acute care facilities the remainder. The company's competitive advantage lies in its scale and strategic partnerships with leading healthcare operators, creating a diversified portfolio concentrated in high-growth markets across the U.S., Canada, and the U.K.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
VTR leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). WELL leads in 3 (Profitability & Efficiency, Total Returns).
Financial Metrics (TTM)
WELL is the larger business by revenue, generating $10.8B annually — 2.0x VTR's $5.6B. Profitability is closely matched — net margins range from 8.6% (WELL) to 4.3% (VTR). On growth, WELL holds the edge at +46.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|
| RevenueTrailing 12 months | $5.6B | $10.8B |
| EBITDAEarnings before interest/tax | $2.2B | $2.6B |
| Net IncomeAfter-tax profit | $238M | $934M |
| Free Cash FlowCash after capex | $1.2B | $2.1B |
| Gross MarginGross profit ÷ Revenue | +42.0% | +20.9% |
| Operating MarginEBIT ÷ Revenue | +14.7% | +4.9% |
| Net MarginNet income ÷ Revenue | +4.3% | +8.6% |
| FCF MarginFCF ÷ Revenue | +20.7% | +19.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +20.4% | +46.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +2.1% | -26.3% |
Valuation Metrics
At 149.0x trailing earnings, WELL trades at a 7% valuation discount to VTR's 159.6x P/E. On an enterprise value basis, VTR's 24.1x EV/EBITDA is more attractive than WELL's 54.4x.
| Metric | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|
| Market CapShares × price | $40.4B | $144.3B |
| Enterprise ValueMkt cap + debt − cash | $53.1B | $142.0B |
| Trailing P/EPrice ÷ TTM EPS | 159.56x | 149.01x |
| Forward P/EPrice ÷ next-FY EPS est. | 114.29x | 73.28x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 24.07x | 54.40x |
| Price / SalesMarket cap ÷ Revenue | 6.93x | 13.31x |
| Price / BookPrice ÷ Book value/share | 3.08x | 3.26x |
| Price / FCFMarket cap ÷ FCF | 31.53x | 50.06x |
Profitability & Efficiency
WELL delivers a 2.2% return on equity — every $100 of shareholder capital generates $2 in annual profit, vs $2 for VTR. WELL carries lower financial leverage with a 0.07x debt-to-equity ratio, signaling a more conservative balance sheet compared to VTR's 1.04x. On the Piotroski fundamental quality scale (0–9), VTR scores 7/9 vs WELL's 5/9, reflecting strong financial health.
| Metric | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +1.9% | +2.2% |
| ROA (TTM)Return on assets | +0.9% | +1.4% |
| ROICReturn on invested capital | +2.5% | +0.9% |
| ROCEReturn on capital employed | +3.2% | +0.9% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 5 |
| Debt / EquityFinancial leverage | 1.04x | 0.07x |
| Net DebtTotal debt minus cash | $12.6B | -$2.2B |
| Cash & Equiv.Liquid assets | $786M | $5.0B |
| Total DebtShort + long-term debt | $13.4B | $2.8B |
| Interest CoverageEBIT ÷ Interest expense | 1.35x | 0.81x |
Total Returns (with DRIP)
A $10,000 investment in WELL five years ago would be worth $32,119 today (with dividends reinvested), compared to $18,063 for VTR. Over the past 12 months, WELL leads with a +36.8% total return vs VTR's +27.3%. The 3-year compound annual growth rate (CAGR) favors WELL at 42.6% vs VTR's 23.5% — a key indicator of consistent wealth creation.
| Metric | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +11.4% | +11.2% |
| 1-Year ReturnPast 12 months | +27.3% | +36.8% |
| 3-Year ReturnCumulative with dividends | +88.4% | +190.2% |
| 5-Year ReturnCumulative with dividends | +80.6% | +221.2% |
| 10-Year ReturnCumulative with dividends | +97.3% | +270.5% |
| CAGR (3Y)Annualised 3-year return | +23.5% | +42.6% |
Risk & Volatility
VTR is the less volatile stock with a 0.23 beta — it tends to amplify market swings less than WELL's 0.29 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.23x | 0.29x |
| 52-Week HighHighest price in past year | $87.87 | $215.56 |
| 52-Week LowLowest price in past year | $60.15 | $130.29 |
| % of 52W HighCurrent price vs 52-week peak | +98.1% | +96.1% |
| RSI (14)Momentum oscillator 0–100 | 77.7 | 69.0 |
| Avg Volume (50D)Average daily shares traded | 2.3M | 2.5M |
Analyst Outlook
Wall Street rates VTR as "Buy" and WELL as "Buy". Consensus price targets imply 6.9% upside for WELL (target: $221) vs 2.9% for VTR (target: $89).
| Metric | VTRVentas, Inc. | WELLWelltower Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $88.70 | $221.45 |
| # AnalystsCovering analysts | 32 | 34 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 0 | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | 100 | 147.84 | +47.8% |
| Welltower Inc. (WELL) | 100 | 249.04 | +149.0% |
Welltower Inc. (WELL) returned +221% over 5 years vs Ventas, Inc. (VTR)'s +81%. A $10,000 investment in WELL 5 years ago would be worth $32,119 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | $3.4B | $5.8B | +69.4% |
| Welltower Inc. (WELL) | $4.3B | $10.8B | +154.9% |
Ventas, Inc.'s revenue grew from $3.4B (2016) to $5.8B (2025) — a 6.0% CAGR. Welltower Inc.'s revenue grew from $4.3B (2016) to $10.8B (2025) — a 11.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | 18.9% | 4.3% | -77.1% |
| Welltower Inc. (WELL) | 25.4% | 8.6% | -65.9% |
Ventas, Inc.'s net margin went from 19% (2016) to 4% (2025). Welltower Inc.'s net margin went from 25% (2016) to 9% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | 15.9 | 143.3 | +801.3% |
| Welltower Inc. (WELL) | 50.6 | 133.5 | +163.8% |
Ventas, Inc. has traded in a 16x–393x P/E range over 7 years; current trailing P/E is ~160x. Welltower Inc. has traded in a 27x–219x P/E range over 9 years; current trailing P/E is ~149x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Ventas, Inc. (VTR) | 1.86 | 0.54 | -71.0% |
| Welltower Inc. (WELL) | 2.81 | 1.39 | -50.5% |
Ventas, Inc.'s EPS grew from $1.86 (2016) to $0.54 (2025) — a -13% CAGR. Welltower Inc.'s EPS grew from $2.81 (2016) to $1.39 (2025) — a -8% CAGR.
Chart 6Free Cash Flow — 5 Years
Ventas, Inc. generated $1B FCF in 2025 (+116% vs 2021). Welltower Inc. generated $3B FCF in 2025 (+129% vs 2021).
VTR vs WELL: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is VTR or WELL a better buy right now?
Welltower Inc. (WELL) offers the better valuation at 149.0x trailing P/E (73.3x forward), making it the more compelling value choice. Analysts rate Ventas, Inc. (VTR) a "Buy" — based on 32 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — VTR or WELL?
On trailing P/E, Welltower Inc. (WELL) is the cheapest at 149.0x versus Ventas, Inc. at 159.6x. On forward P/E, Welltower Inc. is actually cheaper at 73.3x.
03Which is the better long-term investment — VTR or WELL?
Over the past 5 years, Welltower Inc. (WELL) delivered a total return of +221.2%, compared to +80.6% for Ventas, Inc. (VTR). A $10,000 investment in WELL five years ago would be worth approximately $32K today (assuming dividends reinvested). Over 10 years, the gap is even starker: WELL returned +270.5% versus VTR's +97.3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — VTR or WELL?
By beta (market sensitivity over 5 years), Ventas, Inc. (VTR) is the lower-risk stock at 0.23β versus Welltower Inc.'s 0.29β — meaning WELL is approximately 26% more volatile than VTR relative to the S&P 500. On balance sheet safety, Welltower Inc. (WELL) carries a lower debt/equity ratio of 7% versus 104% for Ventas, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — VTR or WELL?
Welltower Inc. (WELL) is the more profitable company, earning 8.6% net margin versus 4.3% for Ventas, Inc. — meaning it keeps 8.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: VTR leads at 14.2% versus 4.9% for WELL. At the gross margin level — before operating expenses — WELL leads at 20.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is VTR or WELL more undervalued right now?
On forward earnings alone, Welltower Inc. (WELL) trades at 73.3x forward P/E versus 114.3x for Ventas, Inc. — 41.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for WELL: 6.9% to $221.45.
07Which pays a better dividend — VTR or WELL?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is VTR or WELL better for a retirement portfolio?
For long-horizon retirement investors, Welltower Inc. (WELL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.29), +270.5% 10Y return). Both have compounded well over 10 years (WELL: +270.5%, VTR: +97.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between VTR and WELL?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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