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6Apr 29, 2026·SEC
Apr 28, 2026·SEC
Mar 10, 2026·SEC
Welltower Inc. (WELL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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Welltower Inc. (WELL) stock price & volume — 10-year historical chart
Welltower Inc. (WELL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Welltower Inc. (WELL) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $1.04vs $0.68+53.2% | $3.4Bvs $3.1B+7.4% |
| Q1 2026 | Feb 10, 2026 | $1.13vs $0.59+91.5% | $3.2Bvs $2.9B+11.3% |
| Q4 2025 | Oct 27, 2025 | $1.34vs $1.30+3.1% | $2.7Bvs $3.0B-9.2% |
| Q3 2025 | Jul 28, 2025 | $1.28vs $1.22+4.9% | $2.5Bvs $2.7B-7.3% |
Welltower Inc. (WELL) competitors in Diversified healthcare real estate — business model, growth, and fundamentals comparison
Welltower Inc. (WELL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Welltower Inc. (WELL) 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 | 4.3B | 4.67B | 5.1B | 4.59B | 4.71B | 5.78B | 6.48B | 7.85B | 10.67B | 11.63B |
Revenue Growth % | 1.12% | 8.65% | 9.19% | -10.08% | 2.68% | 22.65% | 12.16% | 21.23% | 35.82% | 38.27% |
Property Operating Expenses | 2.08B | 2.43B | 2.69B | 2.6B | 2.77B | 3.56B | 3.95B | 4.83B | 6.49B | 7.08B |
Net Operating Income (NOI) | 2.22B▲ 0% | 2.24B▲ 1.0% | 2.41B▲ 7.7% | 1.99B▼ 17.5% | 1.93B▼ 2.7% | 2.22B▲ 14.6% | 2.53B▲ 14.1% | 3.02B▲ 19.5% | 4.18B▲ 38.2% | 4.55B▲ 0% |
NOI Margin % | 51.53% | 47.91% | 47.26% | 43.36% | 41.09% | 38.39% | 39.06% | 38.5% | 39.18% | 39.12% |
Operating Expenses | 1.11B | 1.08B | 1.17B | 1.26B | 1.17B | 1.47B | 1.59B | 1.88B | 3.82B | 4.03B |
G&A Expenses | 122.01M | 126.38M | 126.55M | 128.39M | 126.73M | 150.39M | 179.09M | 235.49M | 1.75B | 1.75B |
EBITDA | 2.05B | 2.13B | 2.28B | 1.78B | 1.82B | 2.08B | 2.38B | 2.83B | 2.49B | 2.78B |
EBITDA Margin % | 47.62% | 45.63% | 44.73% | 38.75% | 38.57% | 36.06% | 36.8% | 35.97% | 23.38% | 23.88% |
Depreciation & Amortization | 938.6M | 970.07M | 1.04B | 1.05B | 1.05B | 1.34B | 1.44B | 1.68B | 2.14B | 2.26B |
D&A / Revenue % | 21.83% | 20.77% | 20.45% | 22.89% | 22.36% | 23.15% | 22.28% | 21.39% | 20.05% | 19.45% |
Operating Income | 1.11B▲ 0% | 1.16B▲ 4.8% | 1.24B▲ 6.6% | 727.45M▼ 41.2% | 763.36M▲ 4.9% | 746.22M▼ 2.2% | 940.45M▲ 26.0% | 1.15B▲ 21.8% | 355.17M▼ 69.0% | 515.28M▲ 0% |
Operating Margin % | 25.78% | 24.86% | 24.27% | 15.86% | 16.21% | 12.92% | 14.52% | 14.59% | 3.33% | 4.43% |
Interest Expense | 484.62M | 526.59M | 555.56M | 514.39M | 489.85M | 529.52M | 607.85M | 574.26M | 651.96M | 4M |
Interest Coverage | 1.62x | 1.80x | 1.98x | 0.94x | 1.35x | 1.33x | 1.58x | 1.91x | 0.26x | - |
Non-Operating Income | 324.25M | 211.15M | 139.6M | 244.61M | 102.75M | 43.64M | -17.44M | 46.99M | 183.24M | 566.32M |
Pretax Income | 216.49M▲ 0% | 838.42M▲ 287.3% | 1.33B▲ 59.0% | 1.05B▼ 21.3% | 383.19M▼ 63.5% | 167.81M▼ 56.2% | 364.5M▲ 117.2% | 975.56M▲ 167.6% | 954.72M▼ 2.1% | 1.47B▲ 0% |
Pretax Margin % | 5.04% | 17.95% | 26.14% | 22.87% | 8.14% | 2.91% | 5.63% | 12.42% | 8.95% | 12.61% |
Income Tax | 20.13M | 8.67M | 2.96M | 9.97M | 8.71M | 7.25M | 6.36M | 2.7M | -7.12M | 10.04M |
Effective Tax Rate % | 9.3% | 1.03% | 0.22% | 0.95% | 2.27% | 4.32% | 1.75% | 0.28% | -0.75% | 0.68% |
Net Income | 522.77M▲ 0% | 804.95M▲ 54.0% | 1.23B▲ 53.1% | 978.84M▼ 20.6% | 336.14M▼ 65.7% | 141.21M▼ 58.0% | 340.09M▲ 140.8% | 951.68M▲ 179.8% | 936.85M▼ 1.6% | 1.43B▲ 0% |
Net Margin % | 12.16% | 17.23% | 24.16% | 21.34% | 7.14% | 2.44% | 5.25% | 12.12% | 8.78% | 12.31% |
Net Income Growth % | -51.5% | 53.98% | 53.11% | -20.58% | -65.66% | -57.99% | 140.84% | 179.83% | -1.56% | 32.21% |
Funds From Operations (FFO) | 1.46B▲ 0% | 1.78B▲ 21.5% | 2.28B▲ 28.2% | 2.03B▼ 10.9% | 1.39B▼ 31.5% | 1.48B▲ 6.4% | 1.78B▲ 20.6% | 2.63B▲ 47.6% | 3.08B▲ 16.9% | 3.69B▲ 0% |
FFO Margin % | 33.99% | 38% | 44.62% | 44.23% | 29.5% | 25.59% | 27.53% | 33.5% | 28.83% | 31.75% |
FFO Growth % | -26.5% | 21.46% | 28.2% | -10.86% | -31.51% | 6.39% | 20.65% | 47.55% | 16.88% | 114.71% |
FFO per Share | 3.96 | 4.73 | 5.64 | 4.86 | 3.25 | 3.18 | 3.44 | 4.32 | 4.53 | 5.08 |
FFO Payout Ratio % | 90.71% | 75.99% | 61.55% | 55.17% | 74.56% | 76.55% | 70.69% | 58.73% | 61.06% | 53.24% |
EPS (Diluted) | 1.26▲ 0% | 2.02▲ 60.3% | 3.05▲ 51.0% | 2.33▼ 23.6% | 0.78▼ 66.5% | 0.30▼ 61.5% | 0.66▲ 120.0% | 1.57▲ 137.9% | 1.39▼ 11.5% | 1.97▲ 0% |
EPS Growth % | -55.16% | 60.32% | 50.99% | -23.61% | -66.52% | -61.54% | 120% | 137.88% | -11.46% | -14.94% |
EPS (Basic) | 1.26 | 2.03 | 3.07 | 2.36 | 0.79 | 0.31 | 0.66 | 1.58 | 1.41 | - |
Diluted Shares Outstanding | 369M | 375.25M | 403.81M | 417.39M | 426.84M | 465.16M | 518.7M | 608.75M | 679.52M | 726.25M |
Welltower Inc. (WELL) 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 | 27.94B | 30.34B | 33.38B | 32.48B | 34.91B | 37.89B | 44.01B | 51.04B | 67.3B | 67.22B |
Asset Growth % | -3.19% | 8.58% | 10.01% | -2.69% | 7.47% | 8.54% | 16.15% | 15.98% | 31.85% | 102.16% |
Real Estate & Other Assets | 25.74B | 28.09B | 30.31B | 27.57B | 30.7B | 32.93B | 37B | 39.86B | 53.42B | -1.59B |
PP&E (Net) | 24.63B | 27.12B | 536.43M | 465.87M | 522.8M | 323.94M | 350.97M | 1.2B | 2.16B | 53.92B |
Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Total Current Assets | 1.69B | 1.7B | 1.88B | 3.44B | 2.58B | 3.08B | 4.96B | 7.23B | 9.91B | 7.37B |
Cash & Equivalents | 243.78M | 215.38M | 284.92M | 1.55B | 269.26M | 631.68M | 1.99B | 3.51B | 5.03B | 4.7B |
Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
Other Current Assets | 65.53M | 100.75M | 100.85M | 476M | 77.49M | 90.61M | 82.44M | 204.87M | 175.86M | 2.67B |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 665.94M | 0 | 2.85B |
Total Liabilities | 12.64B | 14.33B | 16.4B | 15.26B | 15.91B | 16.5B | 17.64B | 18.47B | 24.1B | 22.29B |
Total Debt | 11.73B | 13.3B | 15.39B | 14.22B | 14.68B | 14.96B | 16.12B | 16.76B | 21.38B | 19.98B |
Net Debt | 11.49B | 13.08B | 15.1B | 12.67B | 14.41B | 14.33B | 14.13B | 13.25B | 16.35B | 15.28B |
Long-Term Debt | 10.94B | 12.08B | 13.33B | 13.8B | 13.81B | 14.55B | 15.74B | 15.5B | 19.2B | 17.93B |
Short-Term Borrowings | 719M | 1.15B | 1.59B | 0 | 324.94M | 0 | 0 | 0 | 0 | 0 |
Capital Lease Obligations | 72.24M | 70.67M | 473.69M | 418.27M | 545.94M | 415.82M | 383.23M | 1.26B | 2.18B | 6.88B |
Total Current Liabilities | 1.63B | 2.18B | 2.1B | 622.75M | 1.34B | 1.17B | 1.1B | 1.37B | 1.86B | 2.31B |
Accounts Payable | 0 | 0 | 58.65M | 101.59M | 174.8M | 216.73M | 173.22M | 229.31M | 297.07M | 0 |
Deferred Revenue | 0 | 0 | 183.01M | 115.41M | 335.89M | 432.94M | 374.55M | 430.84M | 501.43M | 0 |
Other Liabilities | 0 | 0 | 494.32M | 418.84M | 219.96M | 367.23M | 421.74M | 343.6M | 864.13M | 0 |
Total Equity | 15.3B▲ 0% | 16.01B▲ 4.6% | 16.98B▲ 6.1% | 17.23B▲ 1.4% | 19B▲ 10.3% | 21.39B▲ 12.6% | 26.37B▲ 23.3% | 32.57B▲ 23.5% | 43.2B▲ 32.6% | 44.93B▲ 0% |
Equity Growth % | -2.42% | 4.64% | 6.07% | 1.43% | 10.29% | 12.61% | 23.27% | 23.51% | 32.64% | 112.21% |
Shareholders Equity | 14.42B | 14.63B | 15.54B | 15.97B | 17.64B | 20.29B | 25.4B | 31.96B | 42.13B | 43.79B |
Minority Interest | 877.5M | 1.38B | 1.44B | 1.25B | 1.36B | 1.1B | 967.35M | 616.38M | 1.07B | 1.14B |
Common Stock | 372.45M | 384.46M | 411M | 418.69M | 448.61M | 491.92M | 565.89M | 637M | 696.62M | 704.86M |
Additional Paid-in Capital | 17.66B | 18.42B | 20.19B | 20.82B | 23.13B | 26.74B | 32.74B | 40.02B | 50.9B | 52.41B |
Retained Earnings | -4.16B | -4.7B | -4.87B | -5.02B | -5.72B | -6.71B | -7.63B | -8.22B | -9.16B | -8.96B |
Preferred Stock | 718.5M | 718.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Return on Assets (ROA) | 1.84% | 2.76% | 3.87% | 2.97% | 1% | 0.39% | 0.83% | 2% | 1.58% | 2.29% |
Return on Equity (ROE) | 3.37% | 5.14% | 7.47% | 5.72% | 1.86% | 0.7% | 1.42% | 3.23% | 2.47% | 3.49% |
Debt / Assets | 41.98% | 43.82% | 46.1% | 43.77% | 42.04% | 39.49% | 36.62% | 32.83% | 31.77% | 29.73% |
Debt / Equity | 0.77x | 0.83x | 0.91x | 0.83x | 0.77x | 0.70x | 0.61x | 0.51x | 0.49x | 0.44x |
Net Debt / EBITDA | 5.61x | 6.14x | 6.62x | 7.13x | 7.93x | 6.88x | 5.93x | 4.69x | 6.56x | 5.50x |
Book Value per Share | 41.47 | 42.67 | 42.06 | 41.27 | 44.51 | 45.99 | 50.84 | 53.51 | 63.58 | 61.86 |
Welltower Inc. (WELL) 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 | 1.58B | 1.54B | 1.36B | 1.28B | 1.33B | 1.6B | 2.26B | 2.88B | 2.95B |
Operating CF Growth % | -12.5% | 10.44% | -3.03% | -11.15% | -6.55% | 4.19% | 20.56% | 40.86% | 27.71% | 81.37% |
Operating CF / Revenue % | 33.36% | 33.91% | 30.11% | 29.76% | 27.08% | 23% | 24.73% | 28.73% | 27.01% | 25.39% |
Net Income | 540.61M | 829.75M | 1.33B | 1.04B | 374.48M | 160.57M | 340.09M | 972.86M | 961.84M | 1.43B |
Depreciation & Amortization | 938.6M | 970.07M | 1.04B | 1.05B | 1.05B | 1.34B | 1.4B | 1.68B | 2.14B | 2.26B |
Stock-Based Compensation | 19.1M | 27.65M | 25.05M | 28.32M | 17.81M | 26.15M | 37.2M | 75.82M | 1.56B | 1.56B |
Other Non-Cash Items | -80.4M | -32.86M | -106.33M | 60.25M | -30.82M | -47.09M | -100.12M | -429.85M | -1.49B | -1.93B |
Working Capital Changes | 50.3M | 76.59M | -92.49M | -31.82M | -44.56M | -140.58M | -76.41M | -42.04M | -280.78M | -393.67M |
Cash from Investing | 154.58M | -2.39B | -2.05B | 2.35B | -4.52B | -3.7B | -5.71B | -5.51B | -10.51B | -9.29B |
Acquisitions (Net) | -919.63M | -3.7B | -4.24B | -1.31B | -4.48B | -2.81B | -3.9B | -3.79B | -14.41B | -13.48B |
Purchase of Investments | -430.82M | -431.04M | -731.1M | -13.32M | -26.59M | -98.46M | -100.13M | -61.03M | -76.64M | -1.4B |
Sale of Investments | 1.53B | 1.72B | 2.78B | 7.73M | 7.52M | 63.75M | 31.49M | 20.09M | 0 | 737.93M |
Other Investing | -12.9M | 19.08M | 158.54M | 3.69B | 2.35M | -830.42M | -1.69B | -1.63B | 4.01B | 5.27B |
Cash from Financing | -1.91B | 818.37M | 577.15M | -2.08B | 1.57B | 2.76B | 5.45B | 4.91B | 9B | 7.49B |
Dividends Paid | -1.33B | -1.35B | -1.4B | -1.12B | -1.04B | -1.13B | -1.26B | -1.55B | -1.88B | -1.97B |
Common Dividends | -1.33B | -1.35B | -1.4B | -1.12B | -1.04B | -1.13B | -1.26B | -1.55B | -1.88B | -1.97B |
Debt Issuance (Net) | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 0 |
Share Repurchases | -287.5M | 0 | 0 | -7.66M | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | -101.32M | -1.56B | -3.55B | -351.05M | -65.39M | -146.35M | 44.06M | -330.1M | -633.02M | -575.66M |
Net Change in Cash | -297.92M▲ 0% | 6.83M▲ 102.3% | 69.64M▲ 920.2% | 1.64B▲ 2248.3% | -1.67B▼ 202.4% | 375.54M▲ 122.4% | 1.35B▲ 260.5% | 1.64B▲ 20.8% | 1.5B▼ 8.4% | 1.21B▲ 0% |
Exchange Rate Effect | 26.85M | -9.02M | 5.31M | 3.45M | -1.01M | -10.63M | 11.03M | -11.72M | 129.39M | 56.02M |
Cash at Beginning | 607.22M | 309.3M | 316.13M | 385.77M | 2.02B | 346.75M | 722.29M | 2.08B | 3.71B | 5.21B |
Cash at End | 309.3M | 316.13M | 385.77M | 2.02B | 346.75M | 722.29M | 2.08B | 3.71B | 5.21B | 4.82B |
Free Cash Flow | 1.42B▲ 0% | 1.58B▲ 10.9% | 1.52B▼ 3.5% | 1.35B▼ 11.4% | 1.26B▼ 6.8% | 1.3B▲ 3.4% | 1.55B▲ 19.5% | 2.2B▲ 41.7% | 2.85B▲ 29.5% | 2.54B▲ 0% |
FCF Growth % | -11.85% | 10.93% | -3.51% | -11.4% | -6.78% | 3.36% | 19.48% | 41.72% | 29.55% | 6.24% |
FCF / Revenue % | 33.05% | 33.74% | 29.82% | 29.37% | 26.67% | 22.48% | 23.94% | 27.99% | 26.7% | 21.86% |
Welltower Inc. (WELL) 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 | 3.96 | 4.73 | 5.64 | 4.86 | 3.25 | 3.18 | 3.44 | 4.32 | 4.53 | 5.08 |
FFO Payout Ratio | 90.71% | 75.99% | 61.55% | 55.17% | 74.56% | 76.55% | 70.69% | 58.73% | 61.06% | 53.24% |
NOI Margin | 51.53% | 47.91% | 47.26% | 43.36% | 41.09% | 38.39% | 39.06% | 38.5% | 39.18% | 39.12% |
Net Debt / EBITDA | 5.61x | 6.14x | 6.62x | 7.13x | 7.93x | 6.88x | 5.93x | 4.69x | 6.56x | 5.50x |
Debt / Assets | 41.98% | 43.82% | 46.1% | 43.77% | 42.04% | 39.49% | 36.62% | 32.83% | 31.77% | 29.73% |
Interest Coverage | 1.62x | 1.80x | 1.98x | 0.94x | 1.35x | 1.33x | 1.58x | 1.91x | 0.26x | - |
Book Value / Share | 41.47 | 42.67 | 42.06 | 41.27 | 44.51 | 45.99 | 50.84 | 53.51 | 63.58 | 61.86 |
Revenue Growth | 1.12% | 8.65% | 9.19% | -10.08% | 2.68% | 22.65% | 12.16% | 21.23% | 35.82% | 38.27% |
Welltower Inc. (WELL) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 29, 2026·SEC
Apr 28, 2026·SEC
Mar 10, 2026·SEC
Welltower Inc. (WELL) stock FAQ — growth, dividends, profitability & financials explained
Welltower Inc. (WELL) reported $11.63B in revenue for fiscal year 2025. This represents a 21279% increase from $54.4M in 1996.
Welltower Inc. (WELL) grew revenue by 35.8% over the past year. This is strong growth.
Yes, Welltower Inc. (WELL) is profitable, generating $1.43B in net income for fiscal year 2025 (8.8% net margin).
Yes, Welltower Inc. (WELL) pays a dividend with a yield of 1.34%. This makes it attractive for income-focused investors.
Welltower Inc. (WELL) has a return on equity (ROE) of 2.5%. This is below average, suggesting room for improvement.
Welltower Inc. (WELL) generated Funds From Operations (FFO) of $3.69B in the trailing twelve months. FFO is the primary profitability metric for REITs.