CBL
CBL & Associates Properties, Inc.
REIT - Retail
Market Cap$1.37B
5Y Perf.+42.5%
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Stock Comparison
CBL vs WELL
Revenue, margins, valuation, and 5-year total return — side by side.
WELL
Welltower Inc.
REIT - Healthcare Facilities
Market Cap$151.66B
5Y Perf.+171.9%
CBL vs WELL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CBL | WELL |
|---|---|---|
| Industry | REIT - Retail | REIT - Healthcare Facilities |
| Market Cap | $1.37B | $151.66B |
| Revenue (TTM) | $578M | $11.63B |
| Net Income (TTM) | $136M | $1.43B |
| Gross Margin | 7.6% | 39.1% |
| Operating Margin | 24.2% | 4.4% |
| Forward P/E | 48.0x | 79.7x |
| Total Debt | $2.17B | $21.38B |
| Cash & Equiv. | $42M | $5.03B |
CBL vs WELL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CBL
WELL
| Stock | Nov 21 | May 26 | Return |
|---|---|---|---|
| CBL & Associates Pr… (CBL) | 100 | 142.5 | +42.5% |
| Welltower Inc. (WELL) | 100 | 271.9 | +171.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CBL vs WELL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: CBL leads in 5 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Welltower Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
CBL
CBL & Associates Properties, Inc.
The Real Estate Income Play
CBL carries the broadest edge in this set and is the clearest fit for value and quality.
- Lower P/E (48.0x vs 79.7x)
- 23.5% margin vs WELL's 12.3%
- 5.7% yield, 1-year raise streak, vs WELL's 1.3%
Best for: value and quality
WELL
Welltower Inc.
The Real Estate Income Play
WELL is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 2 yrs, beta 0.13, yield 1.3%
- Rev growth 35.8%, EPS growth -11.5%, 3Y rev CAGR 22.7%
- 233.9% 10Y total return vs CBL's 79.0%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | WELL | 35.8% FFO/revenue growth vs CBL's 12.2% |
| Value | CBL | Lower P/E (48.0x vs 79.7x) |
| Quality / Margins | CBL | 23.5% margin vs WELL's 12.3% |
| Stability / Safety | WELL | Beta 0.13 vs CBL's 0.68, lower leverage |
| Dividends | CBL | 5.7% yield, 1-year raise streak, vs WELL's 1.3% |
| Momentum (1Y) | CBL | +91.5% vs WELL's +45.8% |
| Efficiency (ROA) | CBL | 5.1% ROA vs WELL's 2.3%, ROIC 4.2% vs 0.5% |
CBL vs WELL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
CBL vs WELL — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLCBLLAGGINGWELL
WELLWelltower Inc.
2leads
CBLCBL & Associates Prop…
3leads
6 Total Categories
CATEGORYLEADERvs WELLMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
CBL4/6
Valuation MetricsMultiples, price ratios, and targets
CBL5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
CBL7/8
Total Returns1Y, 3Y, 5Y total returns with dividends
WELL4/6
Risk & VolatilityBeta, volatility, and downside exposure
WELL2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
CBL leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
WELL is the larger business by revenue, generating $11.6B annually — 20.1x CBL's $578M. CBL is the more profitable business, keeping 23.5% of every revenue dollar as net income compared to WELL's 12.3%. On growth, WELL holds the edge at +40.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CBLCBL & Associates … | WELLWelltower Inc. |
|---|---|---|
| RevenueTrailing 12 months | $578M | $11.6B |
| EBITDAEarnings before interest/tax | $305M | $2.8B |
| Net IncomeAfter-tax profit | $136M | $1.4B |
| Free Cash FlowCash after capex | $255M | $2.5B |
| Gross MarginGross profit ÷ Revenue | +7.6% | +39.1% |
| Operating MarginEBIT ÷ Revenue | +24.2% | +4.4% |
| Net MarginNet income ÷ Revenue | +23.5% | +12.3% |
| FCF MarginFCF ÷ Revenue | +44.1% | +21.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +18.8% | +40.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +27.9% | +22.5% |
CBL leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
CBL leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 10.2x trailing earnings, CBL trades at a 93% valuation discount to WELL's 155.7x P/E. On an enterprise value basis, CBL's 11.5x EV/EBITDA is more attractive than WELL's 67.4x.
| Metric | CBLCBL & Associates … | WELLWelltower Inc. |
|---|---|---|
| Market CapShares × price | $1.4B | $151.7B |
| Enterprise ValueMkt cap + debt − cash | $3.5B | $168.0B |
| Trailing P/EPrice ÷ TTM EPS | 10.17x | 155.73x |
| Forward P/EPrice ÷ next-FY EPS est. | 47.98x | 79.69x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 11.46x | 67.37x |
| Price / SalesMarket cap ÷ Revenue | 2.36x | 14.22x |
| Price / BookPrice ÷ Book value/share | 3.73x | 3.40x |
| Price / FCFMarket cap ÷ FCF | 19.03x | 53.25x |
CBL leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
CBL leads this category, winning 7 of 8 comparable metrics.
Profitability & Efficiency
CBL delivers a 42.9% return on equity — every $100 of shareholder capital generates $43 in annual profit, vs $3 for WELL. WELL carries lower financial leverage with a 0.49x debt-to-equity ratio, signaling a more conservative balance sheet compared to CBL's 5.95x.
| Metric | CBLCBL & Associates … | WELLWelltower Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +42.9% | +3.5% |
| ROA (TTM)Return on assets | +5.1% | +2.3% |
| ROICReturn on invested capital | +4.2% | +0.5% |
| ROCEReturn on capital employed | +5.5% | +0.6% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 7 |
| Debt / EquityFinancial leverage | 5.95x | 0.49x |
| Net DebtTotal debt minus cash | $2.1B | $16.3B |
| Cash & Equiv.Liquid assets | $42M | $5.0B |
| Total DebtShort + long-term debt | $2.2B | $21.4B |
| Interest CoverageEBIT ÷ Interest expense | 1.77x | 0.26x |
CBL leads this category, winning 7 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
WELL leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in WELL five years ago would be worth $31,193 today (with dividends reinvested), compared to $17,905 for CBL. Over the past 12 months, CBL leads with a +91.5% total return vs WELL's +45.8%. The 3-year compound annual growth rate (CAGR) favors WELL at 43.3% vs CBL's 30.9% — a key indicator of consistent wealth creation.
| Metric | CBLCBL & Associates … | WELLWelltower Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +21.2% | +16.2% |
| 1-Year ReturnPast 12 months | +91.5% | +45.8% |
| 3-Year ReturnCumulative with dividends | +124.4% | +194.0% |
| 5-Year ReturnCumulative with dividends | +79.1% | +211.9% |
| 10-Year ReturnCumulative with dividends | +79.0% | +233.9% |
| CAGR (3Y)Annualised 3-year return | +30.9% | +43.3% |
WELL leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
WELL leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
WELL is the less volatile stock with a 0.13 beta — it tends to amplify market swings less than CBL's 0.68 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | CBLCBL & Associates … | WELLWelltower Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.68x | 0.13x |
| 52-Week HighHighest price in past year | $45.86 | $219.59 |
| 52-Week LowLowest price in past year | $23.92 | $142.65 |
| % of 52W HighCurrent price vs 52-week peak | +96.2% | +98.6% |
| RSI (14)Momentum oscillator 0–100 | 58.7 | 57.6 |
| Avg Volume (50D)Average daily shares traded | 172K | 2.6M |
WELL leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — CBL and WELL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates CBL as "Hold" and WELL as "Buy". For income investors, CBL offers the higher dividend yield at 5.66% vs WELL's 1.28%.
| Metric | CBLCBL & Associates … | WELLWelltower Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | — | $226.50 |
| # AnalystsCovering analysts | 22 | 34 |
| Dividend YieldAnnual dividend ÷ price | +5.7% | +1.3% |
| Dividend StreakConsecutive years of raises | 1 | 2 |
| Dividend / ShareAnnual DPS | $2.50 | $2.76 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.3% | 0.0% |
Evenly matched — CBL and WELL each lead in 1 of 2 comparable metrics.
Key Takeaway
CBL leads in 3 of 6 categories (Income & Cash Flow, Valuation Metrics). WELL leads in 2 (Total Returns, Risk & Volatility). 1 tied.
Best OverallCBL & Associates Properties… (CBL)Leads 3 of 6 categories
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CBL vs WELL: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is CBL or WELL a better buy right now?
For growth investors, Welltower Inc.
(WELL) is the stronger pick with 35. 8% revenue growth year-over-year, versus 12. 2% for CBL & Associates Properties, Inc. (CBL). CBL & Associates Properties, Inc. (CBL) offers the better valuation at 10. 2x trailing P/E (48. 0x forward), making it the more compelling value choice. Analysts rate Welltower Inc. (WELL) a "Buy" — based on 34 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 — CBL or WELL?
On trailing P/E, CBL & Associates Properties, Inc.
(CBL) is the cheapest at 10. 2x versus Welltower Inc. at 155. 7x. On forward P/E, CBL & Associates Properties, Inc. is actually cheaper at 48. 0x.
03Which is the better long-term investment — CBL or WELL?
Over the past 5 years, Welltower Inc.
(WELL) delivered a total return of +211. 9%, compared to +79. 1% for CBL & Associates Properties, Inc. (CBL). Over 10 years, the gap is even starker: WELL returned +233. 9% versus CBL's +79. 0%. 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 — CBL or WELL?
By beta (market sensitivity over 5 years), Welltower Inc.
(WELL) is the lower-risk stock at 0. 13β versus CBL & Associates Properties, Inc. 's 0. 68β — meaning CBL is approximately 411% more volatile than WELL relative to the S&P 500. On balance sheet safety, Welltower Inc. (WELL) carries a lower debt/equity ratio of 49% versus 6% for CBL & Associates Properties, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — CBL or WELL?
By revenue growth (latest reported year), Welltower Inc.
(WELL) is pulling ahead at 35. 8% versus 12. 2% for CBL & Associates Properties, Inc. (CBL). On earnings-per-share growth, the picture is similar: CBL & Associates Properties, Inc. grew EPS 132. 1% year-over-year, compared to -11. 5% for Welltower Inc.. Over a 3-year CAGR, WELL leads at 22. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — CBL or WELL?
CBL & Associates Properties, Inc.
(CBL) is the more profitable company, earning 23. 5% net margin versus 8. 8% for Welltower Inc. — meaning it keeps 23. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CBL leads at 24. 2% versus 3. 3% for WELL. At the gross margin level — before operating expenses — WELL leads at 39. 2%, 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.
07Is CBL or WELL more undervalued right now?
On forward earnings alone, CBL & Associates Properties, Inc.
(CBL) trades at 48. 0x forward P/E versus 79. 7x for Welltower Inc. — 31. 7x cheaper on a one-year earnings basis.
08Which pays a better dividend — CBL or WELL?
All stocks in this comparison pay dividends.
CBL & Associates Properties, Inc. (CBL) offers the highest yield at 5. 7%, versus 1. 3% for Welltower Inc. (WELL).
09Is CBL 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. 13), 1. 3% yield, +233. 9% 10Y return). Both have compounded well over 10 years (WELL: +233. 9%, CBL: +79. 0%), 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.
10What are the main differences between CBL 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.
In terms of investment character: CBL is a small-cap deep-value stock; WELL is a mid-cap high-growth stock. 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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Revenue Growth>
%
(CBL: 18.8% · WELL: 40.3%)Net Margin>
%
(CBL: 23.5% · WELL: 12.3%)P/E Ratio<
x
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