Ventas, Inc. (VTR) 10-Year Financial Performance & Capital Metrics

VTR • • REIT / Real Estate

Real EstateHealthcare REITsDiversified 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/Share 3.52 +7.6%
FFO Payout 0% -100.0%
FFO per Share 3.52 +7.6%
NOI Margin -5.9% -113.9%
FFO Margin 27.95% +0.9%
ROE 2.11% +165.3%
ROA 0.93% +193.3%
Debt/Assets 48.67% -7.2%
Net Debt/EBITDA 5.73 -12.3%
Book Value/Share 28.02 +7.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FFO growing 17.5% TTM
✓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%
✗Shares diluted 11.1% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y5.91%

5Y8.98%

3Y12.21%

TTM15.69%

Profit (Net Income) CAGR

10Y-4.95%

5Y-10.56%

3Y-

TTM457.91%

EPS CAGR

10Y-8.05%

5Y-14.33%

3Y-

TTM426.96%

ROCE

10Y Avg2.78%

5Y Avg2.35%

3Y Avg2.59%

Latest3.16%

Peer Comparison

Diversified healthcare real estate

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DOCHealthpeak Properties, Inc.	12.29B	17.68	176.80	4.52%	2.53%	0.86%	10.19%	1.26
VTRVentas, Inc.	40.45B	86.16	159.56	18.47%	4.28%	1.92%	3.17%	1.04
WELLWelltower Inc.	144.26B	207.12	149.01	38%	8.62%	2.16%	2%	0.07
SILASila Realty Trust, Inc.	1.41B	25.73	42.88	5.72%	16.77%	2.49%	8.44%
DHCDiversified Healthcare Trust	1.64B	6.76	-5.68	2.84%	-18.59%	-17.16%
AHRAmerican Healthcare REIT, Inc.	8.93B	52.24	-180.14	11.38%	1.24%	1%	0.94%	0.81
NHPBPNational Healthcare Properties, Inc.		18.80		2.27%	-22.97%	-12.27%		1.67

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	3.44B	3.57B	3.75B	3.87B	3.8B	3.83B	4.13B	4.5B	4.92B	5.83B
Revenue Growth %	4.78%	3.79%	4.8%	3.39%	-2%	0.86%	7.87%	8.93%	9.48%	18.47%
Property Operating Expenses	1.44B	1.49B	1.69B	1.81B	1.94B	2.09B	2.28B	2.56B	2.83B	6.18B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	1.03B	1.02B	1.07B	1.2B	1.26B	1.32B	1.36B	1.52B	1.42B	-1.17B
G&A Expenses	126.88M	135.49M	151.98M	158.73M	130.16M	129.76M	144.87M	148.88M	162.99M	177.4M
EBITDA+	3B	3.12B	3.66B	1.93B	1.72B	1.64B	1.69B	1.83B	1.96B	2.21B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	2.44B	2.5B	2.8B	1.07B	1.13B	1.22B	1.21B	1.41B	1.28B	1.38B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	556.79M	622.09M	861.09M	857.88M	591.44M	421.43M	483.85M	415.51M	681.23M	826.81M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	419.74M	448.2M	442.5M	451.66M	469.54M	440.09M	467.56M	574.11M	602.84M	612.25M
Interest Coverage	1.33x	1.39x	1.95x	1.90x	1.26x	0.96x	1.03x	0.72x	1.13x	1.35x
Non-Operating Income	-65.16M	195.98M	127.09M	23.23M	-222.75M	-80.04M	74.15M	-118.76M	27.82M	-32.8M
Pretax Income+	522.87M	584.15M	376.04M	382.99M	344.65M	61.39M	-57.86M	-39.84M	50.58M	247.37M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-31.34M	-59.8M	-39.95M	-56.31M	-96.53M	4.83M	-16.93M	-9.54M	-37.77M	-14.15M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	649.23M	1.36B	409.47M	433.02M	439.15M	49.01M	-47.45M	-40.97M	81.15M	251.38M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	55.38%	108.93%	-69.81%	5.75%	1.42%	-88.84%	-196.81%	13.64%	298.06%	209.76%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	121.33%	24.63%	-16.71%	-53.22%	4.53%	-19.46%	-7.97%	18.1%	-0.69%	19.5%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.86	3.78	1.14	1.17	1.17	0.13	-0.13	-0.10	0.19	0.54
EPS Growth %	48.8%	103.23%	-69.84%	2.63%	0%	-88.89%	-200%	23.08%	290%	184.21%
EPS (Basic)	1.88	3.82	1.15	1.18	1.18	0.13	-0.13	-0.10	0.20	0.55
Diluted Shares Outstanding	348.39M	358.57M	359.3M	369.89M	376.5M	386.3M	373.37M	405.67M	416.37M	462.62M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	23.17B	23.95B	22.58B	24.69B	23.93B	24.72B	24.16B	24.73B	26.19B	27.59B
Asset Growth %	4.06%	3.4%	-5.72%	9.33%	-3.09%	3.29%	-2.27%	2.35%	5.91%	5.37%
Real Estate & Other Assets+	20.58B	20.81B	20.28B	21.97B	20.82B	22.11B	21.46B	22.13B	23.06B	-24.38B
PP&E (Net)	0	0	0	0	0	0	0	0	0	0
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	1.42B	1.93B	1.14B	1.52B	1.53B	951.02M	964.59M	868.2M	1.35B	741.07M
Cash & Equivalents	286.71M	81.36M	72.28M	106.36M	413.33M	149.72M	122.56M	508.79M	897.85M	786.14M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Assets	135.61M	172.31M	64.64M	125.27M	47.92M	75.27M	93.07M	111.16M	78.01M	-45.07M
Intangible Assets	8.19M	6.5M	5.62M	5.15M	4.66M	7.27M	6.39M	5.58M	11.51M	1.68B
Total Liabilities	12.64B	13.02B	12.31B	14.15B	13.65B	13.77B	13.94B	15.18B	15.36B	14.63B
Total Debt+	11.13B	11.28B	10.73B	12.41B	12.11B	12.22B	12.49B	13.69B	13.74B	13.43B
Net Debt	10.84B	11.19B	10.66B	12.3B	11.69B	12.08B	12.36B	13.18B	12.84B	12.64B
Long-Term Debt	10.98B	10.74B	9.88B	11.31B	11.7B	11.69B	11.87B	13.48B	13.52B	13.22B
Short-Term Borrowings	146.54M	538.7M	856.41M	848.73M	193.49M	336.45M	428.23M	14.01M	6.4M	0
Capital Lease Obligations	0	0	0	251.2M	209.92M	197.23M	190.44M	194.73M	218M	208.6M
Total Current Liabilities+	1.14B	1.88B	2.04B	2.11B	1.44B	1.54B	1.58B	1.18B	1.3B	147.14M
Accounts Payable	907.93M	1.18B	1.09B	1.15B	1.13B	1.09B	1.03B	1.04B	1.15B	0
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	200.73M	158.49M	188.14M	273.68M	235.49M	280.28M	264.65M	302.64M	310.23M	1.18B
Total Equity+	10.53B	10.93B	10.27B	10.55B	10.28B	10.95B	10.22B	9.54B	10.83B	12.96B
Equity Growth %	9.38%	3.83%	-6.04%	2.67%	-2.53%	6.49%	-6.62%	-6.63%	13.47%	19.68%
Shareholders Equity	10.46B	10.87B	10.22B	10.45B	10.18B	10.85B	10.15B	9.49B	10.77B	12.53B
Minority Interest	68.51M	65.96M	55.74M	99.56M	98.02M	91.38M	68.71M	56.35M	58.33M	433.71M
Common Stock	88.51M	89.03M	89.13M	93.19M	93.64M	99.84M	99.91M	100.65M	109.12M	118.73M
Additional Paid-in Capital	12.92B	13.05B	13.08B	14.06B	14.17B	15.5B	15.54B	15.65B	17.61B	19.98B
Retained Earnings	-2.49B	-2.24B	-2.93B	-3.67B	-4.03B	-4.68B	-5.45B	0	0	-7.53B
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	2.86%	5.76%	1.76%	1.83%	1.81%	0.2%	-0.19%	-0.17%	0.32%	0.93%
Return on Equity (ROE)	6.44%	12.64%	3.86%	4.16%	4.22%	0.46%	-0.45%	-0.41%	0.8%	2.11%
Debt / Assets	48.03%	47.07%	47.53%	50.26%	50.59%	49.46%	51.69%	55.35%	52.47%	48.67%
Debt / Equity	1.06x	1.03x	1.04x	1.18x	1.18x	1.12x	1.22x	1.43x	1.27x	1.04x
Net Debt / EBITDA	3.61x	3.59x	2.91x	6.39x	6.79x	7.38x	7.30x	7.20x	6.54x	5.73x
Book Value per Share	30.22	30.49	28.59	28.51	27.30	28.33	27.38	23.53	26.01	28.02

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	1.37B	1.44B	1.38B	1.44B	1.45B	1.03B	1.12B	1.12B	1.33B	1.65B
Operating CF Growth %	-1.75%	5.46%	-4.21%	4.08%	0.86%	-29.24%	9.17%	-0.03%	18.73%	23.85%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	651.49M	1.36B	415.98M	439.3M	441.19M	56.56M	-40.93M	-30.3M	88.35M	261.52M
Depreciation & Amortization	909.28M	904.01M	938.52M	1.07B	1.13B	1.22B	1.21B	1.41B	1.28B	1.34B
Stock-Based Compensation	20.96M	26.54M	29.96M	33.92M	21.49M	31.97M	30.71M	30.99M	30.99M	38.73M
Other Non-Cash Items	-144.63M	-745.84M	95.74M	-4.83M	-162.82M	-232.53M	-18.24M	-226.83M	-73.33M	30.73M
Working Capital Changes	-35.42M	-40.05M	-55.72M	-40.29M	121.83M	-43.77M	-40.78M	-53.6M	43.81M	0
Cash from Investing+	-1.23B	-976.52M	324.5M	-1.59B	154.29M	-724.14M	-859.22M	-184.66M	-2.38B	-2.69B
Acquisitions (Net)	-6.44M	-11.41M	0	-3.85M	-286.82M	-129.29M	-83.65M	-80.47M	0	0
Purchase of Investments	-1.73B	-1.77B	-873.32M	-2.62B	-861.05M	-1.75B	-792.92M	0	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0
Other Investing	0	-20.41M	64.35M	438.13M	667.44M	396.12M	357.61M	155.22M	-1.77B	-2.33B
Cash from Financing+	101.72M	-671.33M	-1.76B	160.67M	-1.3B	-558.47M	-283.93M	-543.75M	1.45B	0
Dividends Paid	-1.02B	-827.28M	-1.13B	-1.16B	-928.81M	-686.89M	-720.32M	-723.56M	-740.33M	0
Common Dividends	-1.02B	-827.28M	-1.13B	-1.16B	-928.81M	-686.89M	-720.32M	-723.56M	-740.33M	0
Debt Issuance (Net)	-1000K	1000K	-1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	0
Share Repurchases	0	0	-1.37M	0	0	-96K	-1.49M	0	0	0
Other Financing	-342K	-44.99M	-38.78M	-8.6M	-25.94M	-68.23M	-48.44M	-68.23M	-64.33M	0
Net Change in Cash+	233.68M	-205.35M	-56.79M	14.64M	305.54M	-255.04M	-25.85M	392.72M	393.77M	0
Exchange Rate Effect	-852K	312K	-815K	1000K	1000K	1000K	-1000K	1000K	-1000K	0
Cash at Beginning	53.02M	286.71M	188.25M	131.46M	146.1M	451.64M	196.6M	170.75M	563.46M	0
Cash at End	286.71M	81.36M	131.46M	146.1M	451.64M	196.6M	170.75M	563.46M	957.23M	0
Free Cash Flow+	1.11B	1.01B	918.73M	877.14M	921.53M	593.15M	666.09M	860.46M	725.78M	1.28B
FCF Growth %	-5%	-8.66%	-9.08%	-4.53%	5.06%	-35.63%	12.3%	29.18%	-15.65%	76.76%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	8.87	10.75	8.93	4.06	4.17	3.27	3.12	3.39	3.28	3.52
FFO Payout Ratio	33.15%	21.47%	35.12%	77.1%	59.17%	54.34%	61.92%	52.66%	54.26%	0%
NOI Margin	58.12%	58.41%	54.85%	53.25%	48.89%	45.44%	44.71%	43.06%	42.59%	-5.9%
Net Debt / EBITDA	3.61x	3.59x	2.91x	6.39x	6.79x	7.38x	7.30x	7.20x	6.54x	5.73x
Debt / Assets	48.03%	47.07%	47.53%	50.26%	50.59%	49.46%	51.69%	55.35%	52.47%	48.67%
Interest Coverage	1.33x	1.39x	1.95x	1.90x	1.26x	0.96x	1.03x	0.72x	1.13x	1.35x
Book Value / Share	30.22	30.49	28.59	28.51	27.3	28.33	27.38	23.53	26.01	28.02
Revenue Growth	4.78%	3.79%	4.8%	3.39%	-2%	0.86%	7.87%	8.93%	9.48%	18.47%

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Ventas, Inc. (VTR) 10-Year Financial Performance & Capital Metrics

VTR • • REIT / Real Estate

Real EstateHealthcare REITsDiversified healthcare real estate

Revenue $5.83B +18.5%
FFO $1.63B +19.5%
FFO/Share 3.52 +7.6%
FFO Payout 0% -100.0%
FFO per Share 3.52 +7.6%
NOI Margin -5.9% -113.9%
FFO Margin 27.95% +0.9%
ROE 2.11% +165.3%
ROA 0.93% +193.3%
Debt/Assets 48.67% -7.2%
Net Debt/EBITDA 5.73 -12.3%
Book Value/Share 28.02 +7.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FFO growing 17.5% TTM
✓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%
✗Shares diluted 11.1% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y5.91%

5Y8.98%

3Y12.21%

TTM15.69%

Profit (Net Income) CAGR

10Y-4.95%

5Y-10.56%

3Y-

TTM457.91%

EPS CAGR

10Y-8.05%

5Y-14.33%

3Y-

TTM426.96%

ROCE

10Y Avg2.78%

5Y Avg2.35%

3Y Avg2.59%

Latest3.16%

Peer Comparison

Diversified healthcare real estate

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DOCHealthpeak Properties, Inc.	12.29B	17.68	176.80	4.52%	2.53%	0.86%	10.19%	1.26
VTRVentas, Inc.	40.45B	86.16	159.56	18.47%	4.28%	1.92%	3.17%	1.04
WELLWelltower Inc.	144.26B	207.12	149.01	38%	8.62%	2.16%	2%	0.07
SILASila Realty Trust, Inc.	1.41B	25.73	42.88	5.72%	16.77%	2.49%	8.44%
DHCDiversified Healthcare Trust	1.64B	6.76	-5.68	2.84%	-18.59%	-17.16%
AHRAmerican Healthcare REIT, Inc.	8.93B	52.24	-180.14	11.38%	1.24%	1%	0.94%	0.81
NHPBPNational Healthcare Properties, Inc.		18.80		2.27%	-22.97%	-12.27%		1.67

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue+	3.44B	3.57B	3.75B	3.87B	3.8B	3.83B	4.13B	4.5B	4.92B	5.83B
Revenue Growth %	4.78%	3.79%	4.8%	3.39%	-2%	0.86%	7.87%	8.93%	9.48%	18.47%
Property Operating Expenses	1.44B	1.49B	1.69B	1.81B	1.94B	2.09B	2.28B	2.56B	2.83B	6.18B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	1.03B	1.02B	1.07B	1.2B	1.26B	1.32B	1.36B	1.52B	1.42B	-1.17B
G&A Expenses	126.88M	135.49M	151.98M	158.73M	130.16M	129.76M	144.87M	148.88M	162.99M	177.4M
EBITDA+	3B	3.12B	3.66B	1.93B	1.72B	1.64B	1.69B	1.83B	1.96B	2.21B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	2.44B	2.5B	2.8B	1.07B	1.13B	1.22B	1.21B	1.41B	1.28B	1.38B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	556.79M	622.09M	861.09M	857.88M	591.44M	421.43M	483.85M	415.51M	681.23M	826.81M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	419.74M	448.2M	442.5M	451.66M	469.54M	440.09M	467.56M	574.11M	602.84M	612.25M
Interest Coverage	1.33x	1.39x	1.95x	1.90x	1.26x	0.96x	1.03x	0.72x	1.13x	1.35x
Non-Operating Income	-65.16M	195.98M	127.09M	23.23M	-222.75M	-80.04M	74.15M	-118.76M	27.82M	-32.8M
Pretax Income+	522.87M	584.15M	376.04M	382.99M	344.65M	61.39M	-57.86M	-39.84M	50.58M	247.37M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-31.34M	-59.8M	-39.95M	-56.31M	-96.53M	4.83M	-16.93M	-9.54M	-37.77M	-14.15M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	649.23M	1.36B	409.47M	433.02M	439.15M	49.01M	-47.45M	-40.97M	81.15M	251.38M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	55.38%	108.93%	-69.81%	5.75%	1.42%	-88.84%	-196.81%	13.64%	298.06%	209.76%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	121.33%	24.63%	-16.71%	-53.22%	4.53%	-19.46%	-7.97%	18.1%	-0.69%	19.5%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.86	3.78	1.14	1.17	1.17	0.13	-0.13	-0.10	0.19	0.54
EPS Growth %	48.8%	103.23%	-69.84%	2.63%	0%	-88.89%	-200%	23.08%	290%	184.21%
EPS (Basic)	1.88	3.82	1.15	1.18	1.18	0.13	-0.13	-0.10	0.20	0.55
Diluted Shares Outstanding	348.39M	358.57M	359.3M	369.89M	376.5M	386.3M	373.37M	405.67M	416.37M	462.62M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	23.17B	23.95B	22.58B	24.69B	23.93B	24.72B	24.16B	24.73B	26.19B	27.59B
Asset Growth %	4.06%	3.4%	-5.72%	9.33%	-3.09%	3.29%	-2.27%	2.35%	5.91%	5.37%
Real Estate & Other Assets+	20.58B	20.81B	20.28B	21.97B	20.82B	22.11B	21.46B	22.13B	23.06B	-24.38B
PP&E (Net)	0	0	0	0	0	0	0	0	0	0
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	1.42B	1.93B	1.14B	1.52B	1.53B	951.02M	964.59M	868.2M	1.35B	741.07M
Cash & Equivalents	286.71M	81.36M	72.28M	106.36M	413.33M	149.72M	122.56M	508.79M	897.85M	786.14M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Assets	135.61M	172.31M	64.64M	125.27M	47.92M	75.27M	93.07M	111.16M	78.01M	-45.07M
Intangible Assets	8.19M	6.5M	5.62M	5.15M	4.66M	7.27M	6.39M	5.58M	11.51M	1.68B
Total Liabilities	12.64B	13.02B	12.31B	14.15B	13.65B	13.77B	13.94B	15.18B	15.36B	14.63B
Total Debt+	11.13B	11.28B	10.73B	12.41B	12.11B	12.22B	12.49B	13.69B	13.74B	13.43B
Net Debt	10.84B	11.19B	10.66B	12.3B	11.69B	12.08B	12.36B	13.18B	12.84B	12.64B
Long-Term Debt	10.98B	10.74B	9.88B	11.31B	11.7B	11.69B	11.87B	13.48B	13.52B	13.22B
Short-Term Borrowings	146.54M	538.7M	856.41M	848.73M	193.49M	336.45M	428.23M	14.01M	6.4M	0
Capital Lease Obligations	0	0	0	251.2M	209.92M	197.23M	190.44M	194.73M	218M	208.6M
Total Current Liabilities+	1.14B	1.88B	2.04B	2.11B	1.44B	1.54B	1.58B	1.18B	1.3B	147.14M
Accounts Payable	907.93M	1.18B	1.09B	1.15B	1.13B	1.09B	1.03B	1.04B	1.15B	0
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	200.73M	158.49M	188.14M	273.68M	235.49M	280.28M	264.65M	302.64M	310.23M	1.18B
Total Equity+	10.53B	10.93B	10.27B	10.55B	10.28B	10.95B	10.22B	9.54B	10.83B	12.96B
Equity Growth %	9.38%	3.83%	-6.04%	2.67%	-2.53%	6.49%	-6.62%	-6.63%	13.47%	19.68%
Shareholders Equity	10.46B	10.87B	10.22B	10.45B	10.18B	10.85B	10.15B	9.49B	10.77B	12.53B
Minority Interest	68.51M	65.96M	55.74M	99.56M	98.02M	91.38M	68.71M	56.35M	58.33M	433.71M
Common Stock	88.51M	89.03M	89.13M	93.19M	93.64M	99.84M	99.91M	100.65M	109.12M	118.73M
Additional Paid-in Capital	12.92B	13.05B	13.08B	14.06B	14.17B	15.5B	15.54B	15.65B	17.61B	19.98B
Retained Earnings	-2.49B	-2.24B	-2.93B	-3.67B	-4.03B	-4.68B	-5.45B	0	0	-7.53B
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	2.86%	5.76%	1.76%	1.83%	1.81%	0.2%	-0.19%	-0.17%	0.32%	0.93%
Return on Equity (ROE)	6.44%	12.64%	3.86%	4.16%	4.22%	0.46%	-0.45%	-0.41%	0.8%	2.11%
Debt / Assets	48.03%	47.07%	47.53%	50.26%	50.59%	49.46%	51.69%	55.35%	52.47%	48.67%
Debt / Equity	1.06x	1.03x	1.04x	1.18x	1.18x	1.12x	1.22x	1.43x	1.27x	1.04x
Net Debt / EBITDA	3.61x	3.59x	2.91x	6.39x	6.79x	7.38x	7.30x	7.20x	6.54x	5.73x
Book Value per Share	30.22	30.49	28.59	28.51	27.30	28.33	27.38	23.53	26.01	28.02

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	1.37B	1.44B	1.38B	1.44B	1.45B	1.03B	1.12B	1.12B	1.33B	1.65B
Operating CF Growth %	-1.75%	5.46%	-4.21%	4.08%	0.86%	-29.24%	9.17%	-0.03%	18.73%	23.85%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	651.49M	1.36B	415.98M	439.3M	441.19M	56.56M	-40.93M	-30.3M	88.35M	261.52M
Depreciation & Amortization	909.28M	904.01M	938.52M	1.07B	1.13B	1.22B	1.21B	1.41B	1.28B	1.34B
Stock-Based Compensation	20.96M	26.54M	29.96M	33.92M	21.49M	31.97M	30.71M	30.99M	30.99M	38.73M
Other Non-Cash Items	-144.63M	-745.84M	95.74M	-4.83M	-162.82M	-232.53M	-18.24M	-226.83M	-73.33M	30.73M
Working Capital Changes	-35.42M	-40.05M	-55.72M	-40.29M	121.83M	-43.77M	-40.78M	-53.6M	43.81M	0
Cash from Investing+	-1.23B	-976.52M	324.5M	-1.59B	154.29M	-724.14M	-859.22M	-184.66M	-2.38B	-2.69B
Acquisitions (Net)	-6.44M	-11.41M	0	-3.85M	-286.82M	-129.29M	-83.65M	-80.47M	0	0
Purchase of Investments	-1.73B	-1.77B	-873.32M	-2.62B	-861.05M	-1.75B	-792.92M	0	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0
Other Investing	0	-20.41M	64.35M	438.13M	667.44M	396.12M	357.61M	155.22M	-1.77B	-2.33B
Cash from Financing+	101.72M	-671.33M	-1.76B	160.67M	-1.3B	-558.47M	-283.93M	-543.75M	1.45B	0
Dividends Paid	-1.02B	-827.28M	-1.13B	-1.16B	-928.81M	-686.89M	-720.32M	-723.56M	-740.33M	0
Common Dividends	-1.02B	-827.28M	-1.13B	-1.16B	-928.81M	-686.89M	-720.32M	-723.56M	-740.33M	0
Debt Issuance (Net)	-1000K	1000K	-1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	0
Share Repurchases	0	0	-1.37M	0	0	-96K	-1.49M	0	0	0
Other Financing	-342K	-44.99M	-38.78M	-8.6M	-25.94M	-68.23M	-48.44M	-68.23M	-64.33M	0
Net Change in Cash+	233.68M	-205.35M	-56.79M	14.64M	305.54M	-255.04M	-25.85M	392.72M	393.77M	0
Exchange Rate Effect	-852K	312K	-815K	1000K	1000K	1000K	-1000K	1000K	-1000K	0
Cash at Beginning	53.02M	286.71M	188.25M	131.46M	146.1M	451.64M	196.6M	170.75M	563.46M	0
Cash at End	286.71M	81.36M	131.46M	146.1M	451.64M	196.6M	170.75M	563.46M	957.23M	0
Free Cash Flow+	1.11B	1.01B	918.73M	877.14M	921.53M	593.15M	666.09M	860.46M	725.78M	1.28B
FCF Growth %	-5%	-8.66%	-9.08%	-4.53%	5.06%	-35.63%	12.3%	29.18%	-15.65%	76.76%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	8.87	10.75	8.93	4.06	4.17	3.27	3.12	3.39	3.28	3.52
FFO Payout Ratio	33.15%	21.47%	35.12%	77.1%	59.17%	54.34%	61.92%	52.66%	54.26%	0%
NOI Margin	58.12%	58.41%	54.85%	53.25%	48.89%	45.44%	44.71%	43.06%	42.59%	-5.9%
Net Debt / EBITDA	3.61x	3.59x	2.91x	6.39x	6.79x	7.38x	7.30x	7.20x	6.54x	5.73x
Debt / Assets	48.03%	47.07%	47.53%	50.26%	50.59%	49.46%	51.69%	55.35%	52.47%	48.67%
Interest Coverage	1.33x	1.39x	1.95x	1.90x	1.26x	0.96x	1.03x	0.72x	1.13x	1.35x
Book Value / Share	30.22	30.49	28.59	28.51	27.3	28.33	27.38	23.53	26.01	28.02
Revenue Growth	4.78%	3.79%	4.8%	3.39%	-2%	0.86%	7.87%	8.93%	9.48%	18.47%

Ventas, Inc. (VTR) 10-Year Financial Performance & Capital Metrics

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Ventas, Inc. (VTR) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare VTR vs Peers

vs WELL

vs DOC

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

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Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios