Welltower Inc. (WELL) 10-Year Financial Performance & Capital Metrics

WELL • • REIT / Real Estate

Real EstateHealthcare REITsDiversified healthcare real estate

AboutWelltower Inc. (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties.Show more

Revenue $10.84B +38.0%
FFO $3.02B +14.8%
FFO/Share 4.45 +2.9%
FFO Payout 0% -100.0%
FFO per Share 4.45 +2.9%
NOI Margin 20.9% -45.7%
FFO Margin 27.88% -16.8%
ROE 2.47% -23.4%
ROA 1.58% -20.9%
Debt/Assets 4.18% -87.3%
Net Debt/EBITDA -0.85 -118.1%
Book Value/Share 63.58 +18.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FFO growing 14.7% TTM
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 2.4%
✗Low NOI margin of 20.9%
✗Shares diluted 11.6% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y10.93%

5Y18.77%

3Y23.34%

TTM38%

Profit (Net Income) CAGR

10Y0.59%

5Y-0.87%

3Y87.9%

TTM-1.81%

EPS CAGR

10Y-5.08%

5Y-9.82%

3Y66.71%

TTM-10.9%

ROCE

10Y Avg2.98%

5Y Avg2.04%

3Y Avg1.91%

Latest0.89%

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+	4.25B	4.3B	4.67B	5.1B	4.59B	4.71B	5.78B	6.48B	7.85B	10.84B
Revenue Growth %	10.68%	1.12%	8.65%	9.19%	-10.08%	2.68%	22.65%	12.16%	21.23%	38%
Property Operating Expenses	1.88B	2.08B	2.43B	2.69B	2.6B	2.77B	3.56B	3.95B	4.83B	8.57B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	1.07B	1.11B	1.08B	1.17B	1.26B	1.17B	1.47B	1.59B	1.88B	6.49B
G&A Expenses	155.24M	122.01M	126.38M	126.55M	128.39M	126.73M	150.39M	179.09M	235.49M	1.75B
EBITDA+	2.22B	2.05B	2.13B	2.28B	1.78B	1.82B	2.08B	2.38B	2.83B	2.61B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	910.39M	938.6M	970.07M	1.04B	1.05B	1.05B	1.34B	1.44B	1.68B	2.08B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.31B	1.11B	1.16B	1.24B	727.45M	763.36M	746.22M	940.45M	1.15B	526.07M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	521.35M	484.62M	526.59M	555.56M	514.39M	489.85M	529.52M	607.85M	574.26M	651.96M
Interest Coverage	2.51x	2.29x	2.21x	2.23x	1.41x	1.56x	1.41x	1.55x	2.00x	0.81x
Non-Operating Income	77.23M	324.25M	211.15M	139.6M	244.61M	102.75M	43.64M	-17.44M	46.99M	0
Pretax Income+	698.9M	216.49M	838.42M	1.33B	1.05B	383.19M	167.81M	364.5M	975.56M	-494.32M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-19.13M	20.13M	8.67M	2.96M	9.97M	8.71M	7.25M	6.36M	2.7M	-7.12M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.08B	522.77M	804.95M	1.23B	978.84M	336.14M	141.21M	340.09M	951.68M	936.85M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	21.96%	-51.5%	53.98%	53.11%	-20.58%	-65.66%	-57.99%	140.84%	179.83%	-1.56%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	15.66%	-26.5%	21.46%	28.2%	-10.86%	-31.51%	6.39%	20.65%	47.55%	14.84%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	2.81	1.26	2.02	3.05	2.33	0.78	0.30	0.66	1.57	1.39
EPS Growth %	20.09%	-55.16%	60.32%	50.99%	-23.61%	-66.52%	-61.54%	120%	137.88%	-11.46%
EPS (Basic)	2.83	1.26	2.03	3.07	2.36	0.79	0.31	0.66	1.58	1.41
Diluted Shares Outstanding	360.23M	369M	375.25M	403.81M	417.39M	426.84M	465.16M	518.7M	608.75M	679.52M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	28.87B	27.94B	30.34B	33.38B	32.48B	34.91B	37.89B	44.01B	51.04B	67.3B
Asset Growth %	-0.55%	-3.19%	8.58%	10.01%	-2.69%	7.47%	8.54%	16.15%	15.98%	31.85%
Real Estate & Other Assets+	25.95B	25.74B	28.09B	30.31B	27.57B	30.7B	32.93B	37B	39.86B	0
PP&E (Net)	24.47B	24.63B	27.12B	536.43M	465.87M	522.8M	323.94M	350.97M	1.2B	2.16B
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Total Current Assets+	2.39B	1.69B	1.7B	1.88B	3.44B	2.58B	3.08B	4.96B	7.23B	6.86B
Cash & Equivalents	419.38M	243.78M	215.38M	284.92M	1.55B	269.26M	631.68M	1.99B	3.51B	5.03B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	187.84M	65.53M	100.75M	100.85M	476M	77.49M	90.61M	82.44M	204.87M	0
Intangible Assets	0	0	0	0	0	0	0	0	665.94M	2.85B
Total Liabilities	13.19B	12.64B	14.33B	16.4B	15.26B	15.91B	16.5B	17.64B	18.47B	24.1B
Total Debt+	12.36B	11.73B	13.3B	15.39B	14.22B	14.68B	14.96B	16.12B	16.76B	2.81B
Net Debt	11.94B	11.49B	13.08B	15.1B	12.67B	14.41B	14.33B	14.13B	13.25B	-2.22B
Long-Term Debt	11.64B	10.94B	12.08B	13.33B	13.8B	13.81B	14.55B	15.74B	15.5B	2.81B
Short-Term Borrowings	645M	719M	1.15B	1.59B	0	324.94M	0	0	0	0
Capital Lease Obligations	73.93M	72.24M	70.67M	473.69M	418.27M	545.94M	415.82M	383.23M	1.26B	0
Total Current Liabilities+	1.47B	1.63B	2.18B	2.1B	622.75M	1.34B	1.17B	1.1B	1.37B	0
Accounts Payable	0	0	0	58.65M	101.59M	174.8M	216.73M	173.22M	229.31M	0
Deferred Revenue	0	0	0	183.01M	115.41M	335.89M	432.94M	374.55M	430.84M	0
Other Liabilities	0	0	0	494.32M	418.84M	219.96M	367.23M	421.74M	343.6M	-19.2B
Total Equity+	15.68B	15.3B	16.01B	16.98B	17.23B	19B	21.39B	26.37B	32.57B	43.2B
Equity Growth %	2.09%	-2.42%	4.64%	6.07%	1.43%	10.29%	12.61%	23.27%	23.51%	32.64%
Shareholders Equity	14.81B	14.42B	14.63B	15.54B	15.97B	17.64B	20.29B	25.4B	31.96B	42.13B
Minority Interest	873.51M	877.5M	1.38B	1.44B	1.25B	1.36B	1.1B	967.35M	616.38M	1.07B
Common Stock	363.07M	372.45M	384.46M	411M	418.69M	448.61M	491.92M	565.89M	637M	696.62M
Additional Paid-in Capital	17B	17.66B	18.42B	20.19B	20.82B	23.13B	26.74B	32.74B	40.02B	50.9B
Retained Earnings	-3.34B	-4.16B	-4.7B	-4.87B	-5.02B	-5.72B	-6.71B	-7.63B	-8.22B	-9.16B
Preferred Stock	1.01B	718.5M	718.5M	0	0	0	0	0	0	0
Return on Assets (ROA)	3.72%	1.84%	2.76%	3.87%	2.97%	1%	0.39%	0.83%	2%	1.58%
Return on Equity (ROE)	6.94%	3.37%	5.14%	7.47%	5.72%	1.86%	0.7%	1.42%	3.23%	2.47%
Debt / Assets	42.81%	41.98%	43.82%	46.1%	43.77%	42.04%	39.49%	36.62%	32.83%	4.18%
Debt / Equity	0.79x	0.77x	0.83x	0.91x	0.83x	0.77x	0.70x	0.61x	0.51x	0.07x
Net Debt / EBITDA	5.38x	5.61x	6.14x	6.62x	7.13x	7.93x	6.88x	5.93x	4.69x	-0.85x
Book Value per Share	43.53	41.47	42.67	42.06	41.27	44.51	45.99	50.84	53.51	63.58

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+	1.64B	1.43B	1.58B	1.54B	1.36B	1.28B	1.33B	1.6B	2.26B	2.88B
Operating CF Growth %	19.34%	-12.5%	10.44%	-3.03%	-11.15%	-6.55%	4.19%	20.56%	40.86%	27.71%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	1.08B	540.61M	829.75M	1.33B	1.04B	374.48M	160.57M	340.09M	972.86M	117.77M
Depreciation & Amortization	910.39M	938.6M	970.07M	1.04B	1.05B	1.05B	1.34B	1.4B	1.68B	2.08B
Stock-Based Compensation	28.87M	19.1M	27.65M	25.05M	28.32M	17.81M	26.15M	37.2M	75.82M	1.56B
Other Non-Cash Items	-88.09M	-80.4M	-32.86M	-106.33M	60.25M	-30.82M	-47.09M	-100.12M	-429.85M	-877.69M
Working Capital Changes	-3.74M	50.3M	76.59M	-92.49M	-31.82M	-44.56M	-140.58M	-76.41M	-42.04M	0
Cash from Investing+	-309.5M	154.58M	-2.39B	-2.05B	2.35B	-4.52B	-3.7B	-5.71B	-5.51B	-10.51B
Acquisitions (Net)	-2.15B	-919.63M	-3.7B	-4.24B	-1.31B	-4.48B	-2.81B	-3.9B	-3.79B	-13.91B
Purchase of Investments	-760.27M	-430.82M	-431.04M	-731.1M	-13.32M	-26.59M	-98.46M	-100.13M	-61.03M	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K
Other Investing	-8.23M	-12.9M	19.08M	158.54M	3.69B	2.35M	-830.42M	-1.69B	-1.63B	3.4B
Cash from Financing+	-1.25B	-1.91B	818.37M	577.15M	-2.08B	1.57B	2.76B	5.45B	4.91B	9B
Dividends Paid	-1.3B	-1.33B	-1.35B	-1.4B	-1.12B	-1.04B	-1.13B	-1.26B	-1.55B	0
Common Dividends	-1.3B	-1.33B	-1.35B	-1.4B	-1.12B	-1.04B	-1.13B	-1.26B	-1.55B	0
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	0
Share Repurchases	0	-287.5M	0	0	-7.66M	0	0	0	0	0
Other Financing	-885.9M	-101.32M	-1.56B	-3.55B	-351.05M	-65.39M	-146.35M	44.06M	-330.1M	9B
Net Change in Cash+	58.47M	-297.92M	6.83M	69.64M	1.64B	-1.67B	375.54M	1.35B	1.64B	1.5B
Exchange Rate Effect	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	0
Cash at Beginning	360.91M	607.22M	309.3M	316.13M	385.77M	2.02B	346.75M	722.29M	2.08B	3.71B
Cash at End	419.38M	309.3M	316.13M	385.77M	2.02B	346.75M	722.29M	2.08B	3.71B	5.21B
Free Cash Flow+	1.61B	1.42B	1.58B	1.52B	1.35B	1.26B	1.3B	1.55B	2.2B	2.88B
FCF Growth %	18.09%	-11.85%	10.93%	-3.51%	-11.4%	-6.78%	3.36%	19.48%	41.72%	31.09%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	5.52	3.96	4.73	5.64	4.86	3.25	3.18	3.44	4.32	4.45
FFO Payout Ratio	65.33%	90.71%	75.99%	61.55%	55.17%	74.56%	76.55%	70.69%	58.73%	0%
NOI Margin	55.85%	51.53%	47.91%	47.26%	43.36%	41.09%	38.39%	39.06%	38.5%	20.9%
Net Debt / EBITDA	5.38x	5.61x	6.14x	6.62x	7.13x	7.93x	6.88x	5.93x	4.69x	-0.85x
Debt / Assets	42.81%	41.98%	43.82%	46.1%	43.77%	42.04%	39.49%	36.62%	32.83%	4.18%
Interest Coverage	2.51x	2.29x	2.21x	2.23x	1.41x	1.56x	1.41x	1.55x	2.00x	0.81x
Book Value / Share	43.53	41.47	42.67	42.06	41.27	44.51	45.99	50.84	53.51	63.58
Revenue Growth	10.68%	1.12%	8.65%	9.19%	-10.08%	2.68%	22.65%	12.16%	21.23%	38%

US Stock Screener

...

Welltower Inc. (WELL) 10-Year Financial Performance & Capital Metrics

WELL • • REIT / Real Estate

Real EstateHealthcare REITsDiversified healthcare real estate

Revenue $10.84B +38.0%
FFO $3.02B +14.8%
FFO/Share 4.45 +2.9%
FFO Payout 0% -100.0%
FFO per Share 4.45 +2.9%
NOI Margin 20.9% -45.7%
FFO Margin 27.88% -16.8%
ROE 2.47% -23.4%
ROA 1.58% -20.9%
Debt/Assets 4.18% -87.3%
Net Debt/EBITDA -0.85 -118.1%
Book Value/Share 63.58 +18.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FFO growing 14.7% TTM
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 2.4%
✗Low NOI margin of 20.9%
✗Shares diluted 11.6% in last year

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y10.93%

5Y18.77%

3Y23.34%

TTM38%

Profit (Net Income) CAGR

10Y0.59%

5Y-0.87%

3Y87.9%

TTM-1.81%

EPS CAGR

10Y-5.08%

5Y-9.82%

3Y66.71%

TTM-10.9%

ROCE

10Y Avg2.98%

5Y Avg2.04%

3Y Avg1.91%

Latest0.89%

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+	4.25B	4.3B	4.67B	5.1B	4.59B	4.71B	5.78B	6.48B	7.85B	10.84B
Revenue Growth %	10.68%	1.12%	8.65%	9.19%	-10.08%	2.68%	22.65%	12.16%	21.23%	38%
Property Operating Expenses	1.88B	2.08B	2.43B	2.69B	2.6B	2.77B	3.56B	3.95B	4.83B	8.57B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	1.07B	1.11B	1.08B	1.17B	1.26B	1.17B	1.47B	1.59B	1.88B	6.49B
G&A Expenses	155.24M	122.01M	126.38M	126.55M	128.39M	126.73M	150.39M	179.09M	235.49M	1.75B
EBITDA+	2.22B	2.05B	2.13B	2.28B	1.78B	1.82B	2.08B	2.38B	2.83B	2.61B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	910.39M	938.6M	970.07M	1.04B	1.05B	1.05B	1.34B	1.44B	1.68B	2.08B
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.31B	1.11B	1.16B	1.24B	727.45M	763.36M	746.22M	940.45M	1.15B	526.07M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	521.35M	484.62M	526.59M	555.56M	514.39M	489.85M	529.52M	607.85M	574.26M	651.96M
Interest Coverage	2.51x	2.29x	2.21x	2.23x	1.41x	1.56x	1.41x	1.55x	2.00x	0.81x
Non-Operating Income	77.23M	324.25M	211.15M	139.6M	244.61M	102.75M	43.64M	-17.44M	46.99M	0
Pretax Income+	698.9M	216.49M	838.42M	1.33B	1.05B	383.19M	167.81M	364.5M	975.56M	-494.32M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-19.13M	20.13M	8.67M	2.96M	9.97M	8.71M	7.25M	6.36M	2.7M	-7.12M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.08B	522.77M	804.95M	1.23B	978.84M	336.14M	141.21M	340.09M	951.68M	936.85M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	21.96%	-51.5%	53.98%	53.11%	-20.58%	-65.66%	-57.99%	140.84%	179.83%	-1.56%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	15.66%	-26.5%	21.46%	28.2%	-10.86%	-31.51%	6.39%	20.65%	47.55%	14.84%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	2.81	1.26	2.02	3.05	2.33	0.78	0.30	0.66	1.57	1.39
EPS Growth %	20.09%	-55.16%	60.32%	50.99%	-23.61%	-66.52%	-61.54%	120%	137.88%	-11.46%
EPS (Basic)	2.83	1.26	2.03	3.07	2.36	0.79	0.31	0.66	1.58	1.41
Diluted Shares Outstanding	360.23M	369M	375.25M	403.81M	417.39M	426.84M	465.16M	518.7M	608.75M	679.52M

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets+	28.87B	27.94B	30.34B	33.38B	32.48B	34.91B	37.89B	44.01B	51.04B	67.3B
Asset Growth %	-0.55%	-3.19%	8.58%	10.01%	-2.69%	7.47%	8.54%	16.15%	15.98%	31.85%
Real Estate & Other Assets+	25.95B	25.74B	28.09B	30.31B	27.57B	30.7B	32.93B	37B	39.86B	0
PP&E (Net)	24.47B	24.63B	27.12B	536.43M	465.87M	522.8M	323.94M	350.97M	1.2B	2.16B
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Total Current Assets+	2.39B	1.69B	1.7B	1.88B	3.44B	2.58B	3.08B	4.96B	7.23B	6.86B
Cash & Equivalents	419.38M	243.78M	215.38M	284.92M	1.55B	269.26M	631.68M	1.99B	3.51B	5.03B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	187.84M	65.53M	100.75M	100.85M	476M	77.49M	90.61M	82.44M	204.87M	0
Intangible Assets	0	0	0	0	0	0	0	0	665.94M	2.85B
Total Liabilities	13.19B	12.64B	14.33B	16.4B	15.26B	15.91B	16.5B	17.64B	18.47B	24.1B
Total Debt+	12.36B	11.73B	13.3B	15.39B	14.22B	14.68B	14.96B	16.12B	16.76B	2.81B
Net Debt	11.94B	11.49B	13.08B	15.1B	12.67B	14.41B	14.33B	14.13B	13.25B	-2.22B
Long-Term Debt	11.64B	10.94B	12.08B	13.33B	13.8B	13.81B	14.55B	15.74B	15.5B	2.81B
Short-Term Borrowings	645M	719M	1.15B	1.59B	0	324.94M	0	0	0	0
Capital Lease Obligations	73.93M	72.24M	70.67M	473.69M	418.27M	545.94M	415.82M	383.23M	1.26B	0
Total Current Liabilities+	1.47B	1.63B	2.18B	2.1B	622.75M	1.34B	1.17B	1.1B	1.37B	0
Accounts Payable	0	0	0	58.65M	101.59M	174.8M	216.73M	173.22M	229.31M	0
Deferred Revenue	0	0	0	183.01M	115.41M	335.89M	432.94M	374.55M	430.84M	0
Other Liabilities	0	0	0	494.32M	418.84M	219.96M	367.23M	421.74M	343.6M	-19.2B
Total Equity+	15.68B	15.3B	16.01B	16.98B	17.23B	19B	21.39B	26.37B	32.57B	43.2B
Equity Growth %	2.09%	-2.42%	4.64%	6.07%	1.43%	10.29%	12.61%	23.27%	23.51%	32.64%
Shareholders Equity	14.81B	14.42B	14.63B	15.54B	15.97B	17.64B	20.29B	25.4B	31.96B	42.13B
Minority Interest	873.51M	877.5M	1.38B	1.44B	1.25B	1.36B	1.1B	967.35M	616.38M	1.07B
Common Stock	363.07M	372.45M	384.46M	411M	418.69M	448.61M	491.92M	565.89M	637M	696.62M
Additional Paid-in Capital	17B	17.66B	18.42B	20.19B	20.82B	23.13B	26.74B	32.74B	40.02B	50.9B
Retained Earnings	-3.34B	-4.16B	-4.7B	-4.87B	-5.02B	-5.72B	-6.71B	-7.63B	-8.22B	-9.16B
Preferred Stock	1.01B	718.5M	718.5M	0	0	0	0	0	0	0
Return on Assets (ROA)	3.72%	1.84%	2.76%	3.87%	2.97%	1%	0.39%	0.83%	2%	1.58%
Return on Equity (ROE)	6.94%	3.37%	5.14%	7.47%	5.72%	1.86%	0.7%	1.42%	3.23%	2.47%
Debt / Assets	42.81%	41.98%	43.82%	46.1%	43.77%	42.04%	39.49%	36.62%	32.83%	4.18%
Debt / Equity	0.79x	0.77x	0.83x	0.91x	0.83x	0.77x	0.70x	0.61x	0.51x	0.07x
Net Debt / EBITDA	5.38x	5.61x	6.14x	6.62x	7.13x	7.93x	6.88x	5.93x	4.69x	-0.85x
Book Value per Share	43.53	41.47	42.67	42.06	41.27	44.51	45.99	50.84	53.51	63.58

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+	1.64B	1.43B	1.58B	1.54B	1.36B	1.28B	1.33B	1.6B	2.26B	2.88B
Operating CF Growth %	19.34%	-12.5%	10.44%	-3.03%	-11.15%	-6.55%	4.19%	20.56%	40.86%	27.71%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	1.08B	540.61M	829.75M	1.33B	1.04B	374.48M	160.57M	340.09M	972.86M	117.77M
Depreciation & Amortization	910.39M	938.6M	970.07M	1.04B	1.05B	1.05B	1.34B	1.4B	1.68B	2.08B
Stock-Based Compensation	28.87M	19.1M	27.65M	25.05M	28.32M	17.81M	26.15M	37.2M	75.82M	1.56B
Other Non-Cash Items	-88.09M	-80.4M	-32.86M	-106.33M	60.25M	-30.82M	-47.09M	-100.12M	-429.85M	-877.69M
Working Capital Changes	-3.74M	50.3M	76.59M	-92.49M	-31.82M	-44.56M	-140.58M	-76.41M	-42.04M	0
Cash from Investing+	-309.5M	154.58M	-2.39B	-2.05B	2.35B	-4.52B	-3.7B	-5.71B	-5.51B	-10.51B
Acquisitions (Net)	-2.15B	-919.63M	-3.7B	-4.24B	-1.31B	-4.48B	-2.81B	-3.9B	-3.79B	-13.91B
Purchase of Investments	-760.27M	-430.82M	-431.04M	-731.1M	-13.32M	-26.59M	-98.46M	-100.13M	-61.03M	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K
Other Investing	-8.23M	-12.9M	19.08M	158.54M	3.69B	2.35M	-830.42M	-1.69B	-1.63B	3.4B
Cash from Financing+	-1.25B	-1.91B	818.37M	577.15M	-2.08B	1.57B	2.76B	5.45B	4.91B	9B
Dividends Paid	-1.3B	-1.33B	-1.35B	-1.4B	-1.12B	-1.04B	-1.13B	-1.26B	-1.55B	0
Common Dividends	-1.3B	-1.33B	-1.35B	-1.4B	-1.12B	-1.04B	-1.13B	-1.26B	-1.55B	0
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	0
Share Repurchases	0	-287.5M	0	0	-7.66M	0	0	0	0	0
Other Financing	-885.9M	-101.32M	-1.56B	-3.55B	-351.05M	-65.39M	-146.35M	44.06M	-330.1M	9B
Net Change in Cash+	58.47M	-297.92M	6.83M	69.64M	1.64B	-1.67B	375.54M	1.35B	1.64B	1.5B
Exchange Rate Effect	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	0
Cash at Beginning	360.91M	607.22M	309.3M	316.13M	385.77M	2.02B	346.75M	722.29M	2.08B	3.71B
Cash at End	419.38M	309.3M	316.13M	385.77M	2.02B	346.75M	722.29M	2.08B	3.71B	5.21B
Free Cash Flow+	1.61B	1.42B	1.58B	1.52B	1.35B	1.26B	1.3B	1.55B	2.2B	2.88B
FCF Growth %	18.09%	-11.85%	10.93%	-3.51%	-11.4%	-6.78%	3.36%	19.48%	41.72%	31.09%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	5.52	3.96	4.73	5.64	4.86	3.25	3.18	3.44	4.32	4.45
FFO Payout Ratio	65.33%	90.71%	75.99%	61.55%	55.17%	74.56%	76.55%	70.69%	58.73%	0%
NOI Margin	55.85%	51.53%	47.91%	47.26%	43.36%	41.09%	38.39%	39.06%	38.5%	20.9%
Net Debt / EBITDA	5.38x	5.61x	6.14x	6.62x	7.13x	7.93x	6.88x	5.93x	4.69x	-0.85x
Debt / Assets	42.81%	41.98%	43.82%	46.1%	43.77%	42.04%	39.49%	36.62%	32.83%	4.18%
Interest Coverage	2.51x	2.29x	2.21x	2.23x	1.41x	1.56x	1.41x	1.55x	2.00x	0.81x
Book Value / Share	43.53	41.47	42.67	42.06	41.27	44.51	45.99	50.84	53.51	63.58
Revenue Growth	10.68%	1.12%	8.65%	9.19%	-10.08%	2.68%	22.65%	12.16%	21.23%	38%

Welltower Inc. (WELL) 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 WELL vs Peers

vs VTR

vs DOC

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Welltower Inc. (WELL) 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 WELL vs Peers

vs VTR

vs DOC

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios