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6Apr 27, 2026·SEC
Feb 20, 2026·SEC
Feb 9, 2026·SEC
Ventas, Inc. (VTR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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Ventas, Inc. (VTR) stock price & volume — 10-year historical chart
Ventas, Inc. (VTR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Ventas, Inc. (VTR) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 27, 2026 | $0.12vs $0.12-2.4% | $1.7Bvs $1.6B+4.5% |
| Q1 2026 | Feb 5, 2026 | $0.15vs $0.10+49.0% | $1.6Bvs $1.5B+4.1% |
| Q4 2025 | Oct 29, 2025 | $0.88vs $0.87+1.1% | $1.5Bvs $1.5B-2.8% |
| Q3 2025 | Jul 30, 2025 | $0.87vs $0.85+2.4% | $1.4Bvs $1.4B+1.1% |
Ventas, Inc. (VTR) competitors in Diversified healthcare real estate — business model, growth, and fundamentals comparison
Ventas, Inc. (VTR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Ventas, Inc. (VTR) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 3.57B | 3.75B | 3.87B | 3.8B | 3.83B | 4.13B | 4.5B | 4.92B | 5.83B | 6.13B |
Revenue Growth % | 3.79% | 4.8% | 3.39% | -2% | 0.86% | 7.87% | 8.93% | 9.48% | 18.47% | 20.67% |
Property Operating Expenses | 1.49B | 1.69B | 1.81B | 1.94B | 2.09B | 2.28B | 2.56B | 2.83B | 6.18B | 6.39B |
Net Operating Income (NOI) | 2.09B▲ 0% | 2.05B▼ 1.6% | 2.06B▲ 0.4% | 1.86B▼ 10.0% | 1.74B▼ 6.3% | 1.85B▲ 6.1% | 1.94B▲ 4.9% | 2.1B▲ 8.3% | -344.22M▼ 116.4% | -261.17M▲ 0% |
NOI Margin % | 58.41% | 54.85% | 53.25% | 48.89% | 45.44% | 44.71% | 43.06% | 42.59% | -5.9% | -4.26% |
Operating Expenses | 1.02B | 1.07B | 1.2B | 1.26B | 1.32B | 1.36B | 1.52B | 1.42B | -1.17B | -1.08B |
G&A Expenses | 135.49M | 151.98M | 158.73M | 130.16M | 129.76M | 144.87M | 148.88M | 162.99M | 177.4M | 187M |
EBITDA | 3.12B | 3.66B | 1.93B | 1.72B | 1.64B | 1.69B | 1.83B | 1.96B | 2.21B | 2.25B |
EBITDA Margin % | 87.27% | 97.74% | 49.74% | 45.37% | 42.75% | 41.04% | 40.7% | 39.89% | 37.81% | 36.74% |
Depreciation & Amortization | 2.5B | 2.8B | 1.07B | 1.13B | 1.22B | 1.21B | 1.41B | 1.28B | 1.38B | 1.43B |
D&A / Revenue % | 69.86% | 74.76% | 27.59% | 29.79% | 31.74% | 29.32% | 31.46% | 26.06% | 23.64% | 23.36% |
Operating Income | 622.09M▲ 0% | 861.09M▲ 38.4% | 857.88M▼ 0.4% | 591.44M▼ 31.1% | 421.43M▼ 28.7% | 483.85M▲ 14.8% | 415.51M▼ 14.1% | 681.23M▲ 63.9% | 826.81M▲ 21.4% | 820.68M▲ 0% |
Operating Margin % | 17.41% | 22.99% | 22.15% | 15.58% | 11.01% | 11.72% | 9.24% | 13.83% | 14.17% | 13.38% |
Interest Expense | 448.2M | 442.5M | 451.66M | 469.54M | 440.09M | 467.56M | 574.11M | 602.84M | 612.25M | 4M |
Interest Coverage | 3.90x | 1.85x | 1.85x | 1.73x | 1.14x | 0.88x | 0.93x | 1.08x | 1.40x | - |
Non-Operating Income | 195.98M | 127.09M | 23.23M | -222.75M | -80.04M | 74.15M | -118.76M | 27.82M | -32.8M | -199.48M |
Pretax Income | 584.15M▲ 0% | 376.04M▼ 35.6% | 382.99M▲ 1.8% | 344.65M▼ 10.0% | 61.39M▼ 82.2% | -57.86M▼ 194.3% | -39.84M▲ 31.1% | 50.58M▲ 227.0% | 247.37M▲ 389.1% | 252.68M▲ 0% |
Pretax Margin % | 16.34% | 10.04% | 9.89% | 9.08% | 1.6% | -1.4% | -0.89% | 1.03% | 4.24% | 4.12% |
Income Tax | -59.8M | -39.95M | -56.31M | -96.53M | 4.83M | -16.93M | -9.54M | -37.77M | -14.15M | -19.53M |
Effective Tax Rate % | -10.24% | -10.62% | -14.7% | -28.01% | 7.86% | 29.25% | 23.95% | -74.69% | -5.72% | -7.73% |
Net Income | 1.36B▲ 0% | 409.47M▼ 69.8% | 433.02M▲ 5.8% | 439.15M▲ 1.4% | 49.01M▼ 88.8% | -47.45M▼ 196.8% | -40.97M▲ 13.6% | 81.15M▲ 298.1% | 251.38M▲ 209.8% | 260.43M▲ 0% |
Net Margin % | 37.95% | 10.93% | 11.18% | 11.57% | 1.28% | -1.15% | -0.91% | 1.65% | 4.31% | 4.25% |
Net Income Growth % | 108.93% | -69.81% | 5.75% | 1.42% | -88.84% | -196.81% | 13.64% | 298.06% | 209.76% | 82.97% |
Funds From Operations (FFO) | 3.85B▲ 0% | 3.21B▼ 16.7% | 1.5B▼ 53.2% | 1.57B▲ 4.5% | 1.26B▼ 19.5% | 1.16B▼ 8.0% | 1.37B▲ 18.1% | 1.36B▼ 0.7% | 1.63B▲ 19.5% | 1.69B▲ 0% |
FFO Margin % | 107.82% | 85.69% | 38.77% | 41.36% | 33.02% | 28.17% | 30.55% | 27.71% | 27.95% | 27.61% |
FFO Growth % | 24.63% | -16.71% | -53.22% | 4.53% | -19.46% | -7.97% | 18.1% | -0.69% | 19.5% | 77.64% |
FFO per Share | 10.75 | 8.93 | 4.06 | 4.17 | 3.27 | 3.12 | 3.39 | 3.28 | 3.52 | 3.48 |
FFO Payout Ratio % | 21.47% | 35.12% | 77.1% | 59.17% | 54.34% | 61.92% | 52.66% | 54.26% | 52.75% | 39.04% |
EPS (Diluted) | 3.78▲ 0% | 1.14▼ 69.8% | 1.17▲ 2.6% | 1.17▲ 0.0% | 0.13▼ 88.9% | -0.13▼ 200.0% | -0.10▲ 23.1% | 0.19▲ 290.0% | 0.54▲ 184.2% | 0.54▲ 0% |
EPS Growth % | 103.23% | -69.84% | 2.63% | 0% | -88.89% | -200% | 23.08% | 290% | 184.21% | 65.17% |
EPS (Basic) | 3.82 | 1.15 | 1.18 | 1.18 | 0.13 | -0.13 | -0.10 | 0.20 | 0.55 | - |
Diluted Shares Outstanding | 358.57M | 359.3M | 369.89M | 376.5M | 386.3M | 373.37M | 405.67M | 416.37M | 462.62M | 486.71M |
Ventas, Inc. (VTR) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Assets | 23.95B | 22.58B | 24.69B | 23.93B | 24.72B | 24.16B | 24.73B | 26.19B | 27.59B | 27.69B |
Asset Growth % | 3.4% | -5.72% | 9.33% | -3.09% | 3.29% | -2.27% | 2.35% | 5.91% | 5.37% | 25.88% |
Real Estate & Other Assets | 20.81B | 20.28B | 21.97B | 20.82B | 22.11B | 21.46B | 22.13B | 23.06B | 24.49B | 0 |
PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 501.44M |
Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
Total Current Assets | 1.93B | 1.14B | 1.52B | 1.53B | 951.02M | 964.59M | 868.2M | 1.35B | 1.33B | 183.61M |
Cash & Equivalents | 81.36M | 72.28M | 106.36M | 413.33M | 149.72M | 122.56M | 508.79M | 897.85M | 741.07M | 183.61M |
Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
Other Current Assets | 172.31M | 64.64M | 125.27M | 47.92M | 75.27M | 93.07M | 111.16M | 78.01M | 88.06M | 0 |
Intangible Assets | 6.5M | 5.62M | 5.15M | 4.66M | 7.27M | 6.39M | 5.58M | 11.51M | 10.68M | 1.77B |
Total Liabilities | 13.02B | 12.31B | 14.15B | 13.65B | 13.77B | 13.94B | 15.18B | 15.36B | 15.01B | 14.11B |
Total Debt | 11.28B | 10.73B | 12.41B | 12.11B | 12.22B | 12.49B | 13.69B | 13.74B | 13.22B | 0 |
Net Debt | 11.19B | 10.66B | 12.3B | 11.69B | 12.08B | 12.36B | 13.18B | 12.84B | 12.48B | -183.61M |
Long-Term Debt | 10.74B | 9.88B | 11.31B | 11.7B | 11.69B | 11.87B | 13.48B | 13.52B | 13.01B | 0 |
Short-Term Borrowings | 538.7M | 856.41M | 848.73M | 193.49M | 336.45M | 428.23M | 14.01M | 6.4M | 0 | 0 |
Capital Lease Obligations | 0 | 0 | 251.2M | 209.92M | 197.23M | 190.44M | 194.73M | 218M | 208.6M | 642.14M |
Total Current Liabilities | 1.88B | 2.04B | 2.11B | 1.44B | 1.54B | 1.58B | 1.18B | 1.3B | 1.39B | 0 |
Accounts Payable | 1.18B | 1.09B | 1.15B | 1.13B | 1.09B | 1.03B | 1.04B | 1.15B | 1.24B | 0 |
Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Liabilities | 158.49M | 188.14M | 273.68M | 235.49M | 280.28M | 264.65M | 302.64M | 310.23M | 375.15M | 0 |
Total Equity | 10.93B▲ 0% | 10.27B▼ 6.0% | 10.55B▲ 2.7% | 10.28B▼ 2.5% | 10.95B▲ 6.5% | 10.22B▼ 6.6% | 9.54B▼ 6.6% | 10.83B▲ 13.5% | 12.59B▲ 16.2% | 13.18B▲ 0% |
Equity Growth % | 3.83% | -6.04% | 2.67% | -2.53% | 6.49% | -6.62% | -6.63% | 13.47% | 16.22% | 72.34% |
Shareholders Equity | 10.87B | 10.22B | 10.45B | 10.18B | 10.85B | 10.15B | 9.49B | 10.77B | 12.53B | 13.12B |
Minority Interest | 65.96M | 55.74M | 99.56M | 98.02M | 91.38M | 68.71M | 56.35M | 58.33M | 58.55M | 394.58M |
Common Stock | 89.03M | 89.13M | 93.19M | 93.64M | 99.84M | 99.91M | 100.65M | 109.12M | 118.73M | 121.52M |
Additional Paid-in Capital | 13.05B | 13.08B | 14.06B | 14.17B | 15.5B | 15.54B | 15.65B | 17.61B | 19.98B | 0 |
Retained Earnings | -2.24B | -2.93B | -3.67B | -4.03B | -4.68B | -5.45B | 0 | 0 | 0 | -7.73B |
Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Return on Assets (ROA) | 5.76% | 1.76% | 1.83% | 1.81% | 0.2% | -0.19% | -0.17% | 0.32% | 0.93% | 0.96% |
Return on Equity (ROE) | 12.64% | 3.86% | 4.16% | 4.22% | 0.46% | -0.45% | -0.41% | 0.8% | 2.15% | 2.08% |
Debt / Assets | 47.07% | 47.53% | 50.26% | 50.59% | 49.46% | 51.69% | 55.35% | 52.47% | 47.91% | 0% |
Debt / Equity | 1.03x | 1.04x | 1.18x | 1.18x | 1.12x | 1.22x | 1.43x | 1.27x | 1.05x | 0.00x |
Net Debt / EBITDA | 3.59x | 2.91x | 6.39x | 6.79x | 7.38x | 7.30x | 7.20x | 6.54x | 5.66x | -0.08x |
Book Value per Share | 30.49 | 28.59 | 28.51 | 27.30 | 28.33 | 27.38 | 23.53 | 26.01 | 27.21 | 27.08 |
Ventas, Inc. (VTR) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 1.43B | 1.44B | 1.44B | 1.45B | 1.04B | 1.15B | 1.19B | 1.34B | 1.68B | 1.75B |
Operating CF Growth % | 4.93% | 0.28% | -0.07% | 0.85% | -28.01% | 10.01% | 4.01% | 12.01% | 25.59% | 103.86% |
Operating CF / Revenue % | 40.15% | 38.41% | 37.13% | 38.21% | 27.27% | 27.81% | 26.56% | 27.17% | 28.8% | 28.6% |
Net Income | 1.36B | 409.48M | 433.02M | 439.15M | 49.01M | -47.45M | -40.97M | 81.15M | 251.38M | 260.43M |
Depreciation & Amortization | 855.05M | 890.14M | 912.02M | 955.96M | 978M | 1.09B | 1.17B | 1.17B | 1.28B | 1.36B |
Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24.84M |
Other Non-Cash Items | -723.23M | 195.02M | 133.21M | -66.76M | 60.72M | 146.71M | 123.25M | 45.89M | 96.67M | 25.7M |
Working Capital Changes | -40.05M | -55.72M | -40.29M | 121.83M | -43.77M | -40.78M | -53.6M | 43.81M | 49.43M | 100.67M |
Cash from Investing | -954.68M | 264.2M | -1.58B | 147.37M | -764.48M | -882.33M | -239.2M | -2.39B | -2.73B | -2.91B |
Acquisitions (Net) | -11.41M | -2.84M | 6.28M | -6.92M | -22.49M | 5.2M | 31.75M | -7.36M | -1.98M | -2.06M |
Purchase of Investments | -1.77B | -873.32M | -2.62B | -861.05M | -1.75B | -792.92M | -523.33M | -2.44B | -2.63B | -1.79B |
Sale of Investments | 960.97M | 1.27B | 1.17B | 1.16B | 1.19B | 113.82M | 494.22M | 335.96M | 261.98M | 245.86M |
Other Investing | 1.42M | 6.89M | 30.18M | 207K | 1.28M | 13.7M | 17.58M | 3.54M | 5.01M | -990.6M |
Cash from Financing | -659.92M | -1.76B | 154.39M | -1.29B | -535.97M | -289.13M | -563.88M | 1.45B | 875.73M | 1.11B |
Dividends Paid | -827.28M | -1.13B | -1.16B | -928.81M | -686.89M | -720.32M | -723.56M | -740.33M | -860.06M | -661.03M |
Common Dividends | -827.28M | -1.13B | -1.16B | -928.81M | -686.89M | -720.32M | -723.56M | -740.33M | -860.06M | -661.03M |
Debt Issuance (Net) | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K |
Share Repurchases | 0 | -1.37M | -2.2M | -575K | -96K | -1.49M | 0 | 0 | 0 | 0 |
Other Financing | -6.28M | -15.33M | -27.45M | -25.16M | -26.64M | -44.81M | -47.13M | -44.73M | -45.94M | 65.32M |
Net Change in Cash | -205.35M▲ 0% | -56.79M▲ 72.3% | 14.64M▲ 125.8% | 305.54M▲ 1987.3% | -255.04M▼ 183.5% | -25.85M▲ 89.9% | 392.72M▲ 1619.1% | 393.77M▲ 0.3% | -171.1M▼ 143.5% | -44.67M▲ 0% |
Exchange Rate Effect | 312K | -815K | 1.48M | 1.09M | 1.45M | -2.87M | 1.26M | -3.98M | 2.84M | 323K |
Cash at Beginning | 286.71M | 188.25M | 131.46M | 146.1M | 451.64M | 196.6M | 170.75M | 563.46M | 957.23M | 786.14M |
Cash at End | 81.36M | 131.46M | 146.1M | 451.64M | 196.6M | 170.75M | 563.46M | 957.23M | 786.14M | 201.29M |
Free Cash Flow | 1.3B▲ 0% | 1.31B▲ 0.4% | 1.28B▼ 2.0% | 1.3B▲ 1.6% | 858.69M▼ 34.0% | 926.34M▲ 7.9% | 935.13M▲ 0.9% | 1.06B▲ 13.0% | 1.32B▲ 24.6% | 1.38B▲ 0% |
FCF Growth % | 4.19% | 0.36% | -1.98% | 1.62% | -34.05% | 7.88% | 0.95% | 12.97% | 24.63% | 24.91% |
FCF / Revenue % | 36.44% | 34.89% | 33.08% | 34.3% | 22.43% | 22.43% | 20.79% | 21.45% | 22.57% | 22.44% |
Ventas, Inc. (VTR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
FFO per Share | 10.75 | 8.93 | 4.06 | 4.17 | 3.27 | 3.12 | 3.39 | 3.28 | 3.52 | 3.48 |
FFO Payout Ratio | 21.47% | 35.12% | 77.1% | 59.17% | 54.34% | 61.92% | 52.66% | 54.26% | 52.75% | 39.04% |
NOI Margin | 58.41% | 54.85% | 53.25% | 48.89% | 45.44% | 44.71% | 43.06% | 42.59% | -5.9% | -4.26% |
Net Debt / EBITDA | 3.59x | 2.91x | 6.39x | 6.79x | 7.38x | 7.30x | 7.20x | 6.54x | 5.66x | -0.08x |
Debt / Assets | 47.07% | 47.53% | 50.26% | 50.59% | 49.46% | 51.69% | 55.35% | 52.47% | 47.91% | 0% |
Interest Coverage | 3.90x | 1.85x | 1.85x | 1.73x | 1.14x | 0.88x | 0.93x | 1.08x | 1.40x | - |
Book Value / Share | 30.49 | 28.59 | 28.51 | 27.3 | 28.33 | 27.38 | 23.53 | 26.01 | 27.21 | 27.08 |
Revenue Growth | 3.79% | 4.8% | 3.39% | -2% | 0.86% | 7.87% | 8.93% | 9.48% | 18.47% | 20.67% |
Ventas, Inc. (VTR) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 27, 2026·SEC
Feb 20, 2026·SEC
Feb 9, 2026·SEC
Ventas, Inc. (VTR) stock FAQ — growth, dividends, profitability & financials explained
Ventas, Inc. (VTR) reported $6.13B in revenue for fiscal year 2025. This represents a 138% increase from $2.58B in 1996.
Ventas, Inc. (VTR) grew revenue by 18.5% over the past year. This is strong growth.
Yes, Ventas, Inc. (VTR) is profitable, generating $260.4M in net income for fiscal year 2025 (4.3% net margin).
Yes, Ventas, Inc. (VTR) pays a dividend with a yield of 2.28%. This makes it attractive for income-focused investors.
Ventas, Inc. (VTR) has a return on equity (ROE) of 2.1%. This is below average, suggesting room for improvement.
Ventas, Inc. (VTR) generated Funds From Operations (FFO) of $1.69B in the trailing twelve months. FFO is the primary profitability metric for REITs.