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VTR logoVentas, Inc.(VTR)Earnings, Financials & Key Ratios

VTR•NYSE•REIT / Real Estate
$86.78
$41.26B mkt cap·160.7× P/E·Price updated May 6, 2026
SectorReal EstateIndustryHealthcare REITsSub-IndustryDiversified healthcare real estate
AboutVentas, an S&P 500 company, operates at the intersection of two powerful and dynamic industries: healthcare and real estate. As one of the world's foremost Real Estate Investment Trusts (REIT), we use the power of capital to unlock the value of real estate, partnering with leading care providers, developers, research and medical institutions, innovators and healthcare organizations whose success is buoyed by the demographic tailwind of an aging population. For more than twenty years, Ventas has followed a successful strategy that endures: combining a high-quality diversified portfolio of properties and capital sources to manage through cycles, working with industry leading partners, and a collaborative and experienced team focused on producing consistent growing cash flows and superior returns on a strong balance sheet, ultimately rewarding Ventas shareholders. As of September 30, 2020, Ventas owned or managed through unconsolidated joint ventures approximately 1,200 properties.Show more
  • Revenue$5.83B+18.5%
  • FFO$1.63B+19.5%
  • FFO/Share3.52+7.6%
  • FFO Payout52.75%-2.8%
  • FFO per Share3.52+7.6%
  • NOI Margin-5.9%-113.9%
  • FFO Margin27.95%+0.9%
  • ROE2.15%+169.5%
  • ROA0.93%+193.3%
  • Debt/Assets47.91%-8.7%
  • Net Debt/EBITDA5.66-13.5%
  • Book Value/Share27.21+4.6%
Analysis→Technical→

VTR Key Insights

Ventas, Inc. (VTR) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓FFO growing 19.2% TTM
  • ✓Sustainable FFO payout ratio of 52.7%
  • ✓Healthy dividend yield of 2.1%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Weak 3Y average ROE of 0.8%
  • ✗Profits declining 10.6% over 5 years
  • ✗Low NOI margin of -5.9%
  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 11.1% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

VTR Price & Volume

Ventas, Inc. (VTR) stock price & volume — 10-year historical chart

Loading chart...

VTR Growth Metrics

Ventas, Inc. (VTR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years5.91%
5 Years8.98%
3 Years12.21%
TTM20.67%

Profit CAGR

10 Years-4.95%
5 Years-10.56%
3 Years-
TTM82.97%

EPS CAGR

10 Years-8.05%
5 Years-14.33%
3 Years-
TTM65.17%

Return on Capital

10 Years2.79%
5 Years2.36%
3 Years2.62%
Last Year3.24%

VTR Recent Earnings

Ventas, Inc. (VTR) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
Apr 27, 2026
EPS
$0.11
Est $0.12
-10.5%
Revenue
$1.7B
Est $1.6B
+4.5%
Q1 2026
Feb 5, 2026
EPS
$0.15
Est $0.10
+49.0%
Revenue
$1.6B
Est $1.5B
+4.1%
Q4 2025
Oct 29, 2025
EPS
$0.88
Est $0.87
+1.1%
Revenue
$1.5B
Est $1.5B
-2.8%
Q3 2025
Jul 30, 2025
EPS
$0.87
Est $0.85
+2.4%
Revenue
$1.4B
Est $1.4B
+1.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 27, 2026
$0.11vs $0.12-10.5%
$1.7Bvs $1.6B+4.5%
Q1 2026Feb 5, 2026
$0.15vs $0.10+49.0%
$1.6Bvs $1.5B+4.1%
Q4 2025Oct 29, 2025
$0.88vs $0.87+1.1%
$1.5Bvs $1.5B-2.8%
Q3 2025Jul 30, 2025
$0.87vs $0.85+2.4%
$1.4Bvs $1.4B+1.1%
Based on last 12 quarters of dataView full earnings history →

VTR Peer Comparison

Ventas, Inc. (VTR) competitors in Diversified healthcare real estate — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
WELL logoWELLWelltower Inc.Direct Competitor150.14B214.30154.1735.82%12.31%3.49%1.9%0.49
HR logoHRHealthcare Realty Trust IncorporatedDirect Competitor6.95B19.92-28.06-6.92%-17.51%-4.28%1.83%0.89
OHI logoOHIOmega Healthcare Investors, Inc.Direct Competitor13.73B46.1223.7713.95%51.02%11.85%6.4%0.78
SBRA logoSBRASabra Health Care REIT, Inc.Direct Competitor5.14B20.3831.8410.15%19.21%5.6%6.78%0.90
NHI logoNHINational Health Investors, Inc.Product Competitor3.54B73.0924.2012.93%36.81%9.77%6.22%0.76
LTC logoLTCLTC Properties, Inc.Product Competitor1.85B38.2015.1625.26%44.88%10.15%7.34%0.55
CTRE logoCTRECareTrust REIT, Inc.Product Competitor8.76B39.3425.06108.71%80.64%6.51%4.5%
GMRE logoGMREGlobal Medical REIT Inc.Product Competitor94.26M35.74115.29-1.79%1.69%0.49%1.18

Compare VTR vs Peers

Ventas, Inc. (VTR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WELL

Most directly comparable listed peer for VTR.

Scale Benchmark

vs SPG

Larger-name benchmark to compare VTR against a more recognizable public peer.

Peer Set

Compare Top 5

vs WELL, HR, OHI, SBRA

VTR Income Statement

Ventas, Inc. (VTR) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue3.57B3.75B3.87B3.8B3.83B4.13B4.5B4.92B5.83B6.13B
Revenue Growth %3.79%4.8%3.39%-2%0.86%7.87%8.93%9.48%18.47%20.67%
Property Operating Expenses1.49B1.69B1.81B1.94B2.09B2.28B2.56B2.83B6.18B6.39B
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 Expenses1.02B1.07B1.2B1.26B1.32B1.36B1.52B1.42B-1.17B-1.08B
G&A Expenses135.49M151.98M158.73M130.16M129.76M144.87M148.88M162.99M177.4M187M
EBITDA3.12B3.66B1.93B1.72B1.64B1.69B1.83B1.96B2.21B2.25B
EBITDA Margin %87.27%97.74%49.74%45.37%42.75%41.04%40.7%39.89%37.81%36.74%
Depreciation & Amortization2.5B2.8B1.07B1.13B1.22B1.21B1.41B1.28B1.38B1.43B
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 Expense448.2M442.5M451.66M469.54M440.09M467.56M574.11M602.84M612.25M4M
Interest Coverage3.90x1.85x1.85x1.73x1.14x0.88x0.93x1.08x1.40x-
Non-Operating Income195.98M127.09M23.23M-222.75M-80.04M74.15M-118.76M27.82M-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-96.53M4.83M-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 Share10.758.934.064.173.273.123.393.283.523.48
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)3.821.151.181.180.13-0.13-0.100.200.55-
Diluted Shares Outstanding358.57M359.3M369.89M376.5M386.3M373.37M405.67M416.37M462.62M486.71M

VTR Balance Sheet

Ventas, Inc. (VTR) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets23.95B22.58B24.69B23.93B24.72B24.16B24.73B26.19B27.59B27.69B
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 Assets20.81B20.28B21.97B20.82B22.11B21.46B22.13B23.06B24.49B0
PP&E (Net)000000000501.44M
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K0
Total Current Assets1.93B1.14B1.52B1.53B951.02M964.59M868.2M1.35B1.33B183.61M
Cash & Equivalents81.36M72.28M106.36M413.33M149.72M122.56M508.79M897.85M741.07M183.61M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K0
Other Current Assets172.31M64.64M125.27M47.92M75.27M93.07M111.16M78.01M88.06M0
Intangible Assets6.5M5.62M5.15M4.66M7.27M6.39M5.58M11.51M10.68M1.77B
Total Liabilities13.02B12.31B14.15B13.65B13.77B13.94B15.18B15.36B15.01B14.11B
Total Debt11.28B10.73B12.41B12.11B12.22B12.49B13.69B13.74B13.22B0
Net Debt11.19B10.66B12.3B11.69B12.08B12.36B13.18B12.84B12.48B-183.61M
Long-Term Debt10.74B9.88B11.31B11.7B11.69B11.87B13.48B13.52B13.01B0
Short-Term Borrowings538.7M856.41M848.73M193.49M336.45M428.23M14.01M6.4M00
Capital Lease Obligations00251.2M209.92M197.23M190.44M194.73M218M208.6M642.14M
Total Current Liabilities1.88B2.04B2.11B1.44B1.54B1.58B1.18B1.3B1.39B0
Accounts Payable1.18B1.09B1.15B1.13B1.09B1.03B1.04B1.15B1.24B0
Deferred Revenue0000000000
Other Liabilities158.49M188.14M273.68M235.49M280.28M264.65M302.64M310.23M375.15M0
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 Equity10.87B10.22B10.45B10.18B10.85B10.15B9.49B10.77B12.53B13.12B
Minority Interest65.96M55.74M99.56M98.02M91.38M68.71M56.35M58.33M58.55M394.58M
Common Stock89.03M89.13M93.19M93.64M99.84M99.91M100.65M109.12M118.73M121.52M
Additional Paid-in Capital13.05B13.08B14.06B14.17B15.5B15.54B15.65B17.61B19.98B0
Retained Earnings-2.24B-2.93B-3.67B-4.03B-4.68B-5.45B000-7.73B
Preferred Stock0000000000
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 / Assets47.07%47.53%50.26%50.59%49.46%51.69%55.35%52.47%47.91%0%
Debt / Equity1.03x1.04x1.18x1.18x1.12x1.22x1.43x1.27x1.05x1.05x
Net Debt / EBITDA3.59x2.91x6.39x6.79x7.38x7.30x7.20x6.54x5.66x5.66x
Book Value per Share30.4928.5928.5127.3028.3327.3823.5326.0127.2127.08

VTR Cash Flow Statement

Ventas, Inc. (VTR) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations1.43B1.44B1.44B1.45B1.04B1.15B1.19B1.34B1.68B1.68B
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%27.4%
Net Income1.36B409.48M433.02M439.15M49.01M-47.45M-40.97M81.15M251.38M260.43M
Depreciation & Amortization855.05M890.14M912.02M955.96M978M1.09B1.17B1.17B1.28B1.36B
Stock-Based Compensation00000000024.84M
Other Non-Cash Items-723.23M195.02M133.21M-66.76M60.72M146.71M123.25M45.89M96.67M25.7M
Working Capital Changes-40.05M-55.72M-40.29M121.83M-43.77M-40.78M-53.6M43.81M49.43M100.67M
Cash from Investing-954.68M264.2M-1.58B147.37M-764.48M-882.33M-239.2M-2.39B-2.73B-2.91B
Acquisitions (Net)-11.41M-2.84M6.28M-6.92M-22.49M5.2M31.75M-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 Investments960.97M1.27B1.17B1.16B1.19B113.82M494.22M335.96M261.98M245.86M
Other Investing1.42M6.89M30.18M207K1.28M13.7M17.58M3.54M5.01M-990.6M
Cash from Financing-659.92M-1.76B154.39M-1.29B-535.97M-289.13M-563.88M1.45B875.73M1.11B
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-1000K1000K-1000K-1000K1000K1000K1000K-1000K1000K
Share Repurchases0-1.37M-2.2M-575K-96K-1.49M0000
Other Financing-6.28M-15.33M-27.45M-25.16M-26.64M-44.81M-47.13M-44.73M-45.94M65.32M
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 Effect312K-815K1.48M1.09M1.45M-2.87M1.26M-3.98M2.84M323K
Cash at Beginning286.71M188.25M131.46M146.1M451.64M196.6M170.75M563.46M957.23M786.14M
Cash at End81.36M131.46M146.1M451.64M196.6M170.75M563.46M957.23M786.14M201.29M
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%

VTR Key Ratios

Ventas, Inc. (VTR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
FFO per Share10.758.934.064.173.273.123.393.283.523.48
FFO Payout Ratio21.47%35.12%77.1%59.17%54.34%61.92%52.66%54.26%52.75%39.04%
NOI Margin58.41%54.85%53.25%48.89%45.44%44.71%43.06%42.59%-5.9%-4.26%
Net Debt / EBITDA3.59x2.91x6.39x6.79x7.38x7.30x7.20x6.54x5.66x5.66x
Debt / Assets47.07%47.53%50.26%50.59%49.46%51.69%55.35%52.47%47.91%0%
Interest Coverage3.90x1.85x1.85x1.73x1.14x0.88x0.93x1.08x1.40x-
Book Value / Share30.4928.5928.5127.328.3327.3823.5326.0127.2127.08
Revenue Growth3.79%4.8%3.39%-2%0.86%7.87%8.93%9.48%18.47%20.67%

VTR SEC Filings & Documents

Ventas, Inc. (VTR) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 27, 2026·SEC

Material company update

Feb 20, 2026·SEC

Material company update

Feb 9, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 6, 2026·SEC

FY 2025

Feb 13, 2025·SEC

10-Q Quarterly Reports

5
FY 2026

Apr 28, 2026·SEC

FY 2025

Oct 30, 2025·SEC

FY 2025

Jul 31, 2025·SEC

VTR Frequently Asked Questions

Ventas, Inc. (VTR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

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).

Dividend & Returns

Yes, Ventas, Inc. (VTR) pays a dividend with a yield of 2.14%. 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.

Industry Metrics

Ventas, Inc. (VTR) generated Funds From Operations (FFO) of $1.69B in the trailing twelve months. FFO is the primary profitability metric for REITs.

Explore More VTR

Ventas, Inc. (VTR) financial analysis — history, returns, DCA and operating performance tools

Full VTR Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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