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NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Welltower Inc. WELL

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$10.8B
▲ 35.6% YoY
$961.8M
▼ 1.1% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

It evaluates its business through three reportable segments: Seniors Housing Operating, Triple-net and Outpatient Medical. As of December 31, 2025, it had relationships with 62 partners to manage its Seniors Housing Operating properties. Its remaining outpatient medical portfolio, exclusive of held for sale properties, primarily consists of triple-net leased properties leased to investment grade healthcare providers.

Written from the business description in WELLTOWER INC.'s annual report to the U.S. Securities and Exchange Commission, filed 12 February 2026. Every sentence was checked against that document before publication.

Growth

USD 10.8B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 10.8 · Net income 1.0
5B10B
2008201120142017202020232025
Compound annual growth
+22.7%
+18.7%
+10.9%
+21.6%
+81.6%
−1.5%
+0.8%
+14.3%
+66.7%
−9.8%
−5.1%
+3.5%
+4.9%
+0.9%
−1.6%
+0.2%
+18.3%
+10.7%
+5.1%
+11.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +18.7% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

9 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Net 8.9%
20%40%
200820162025
ROE
FY2025 · ROE 2.6%
5%
200820162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.
Gross margin40.1%
Operating margin·
Net margin8.9%
EBITDA·

Each USD of equity produced 3 cents of profit this year.

Cash & shareholders

USD 1.9B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2020 · FCF 1.0
2B4B-1B-2B
200820162025
Net buybacks $B Dividends $B
FY2025 · Dividends 1.9 · Net buybacks ·
1.0B2.0B-0.5B-1.0BDividendsNet buybacks
2008201120142017202020232025
Dividends paidUSD 1.9B
Net buybacks·
Share of profit195.2%
Consecutive raises2 years

USD 1.9B in dividends — 195% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 67.3B
EquityUSD 42.1B
CashUSD 5.0B
Gross debtUSD 19.2B
Net debtUSD 14.2B

Net debt stands at 34% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
WELL, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B10.88.06.65.94.74.65.14.74.34.33.93.32.91.81.30.60.50.5
Operating income $B◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
EBITDA $B◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Income tax $B−0.00.00.00.00.00.00.00.00.0−0.00.0−0.00.0−0.0−0.00.00.00.0
Net income $B1.01.00.40.20.41.01.30.80.51.10.90.50.10.30.20.10.20.3
Free cash flow $B◌◌◌◌◌1.0◌−2.00.6−0.5−2.0−1.1−2.63.75.1−1.7−0.2−0.7
EPS, diluted $1.391.570.660.300.782.333.052.021.262.812.341.450.280.980.900.831.492.76
Dividend / sh $2.822.562.442.442.442.703.483.483.483.443.303.183.062.962.832.742.722.70
Payout %19515935270627710810615723611412918960722222227116190
ROE %2.63.41.60.82.26.68.85.73.77.46.44.21.33.43.73.15.58.7
Shares out B0.700.640.560.490.450.420.410.380.370.360.350.330.290.260.190.150.12◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

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Provenance

Company facts, as filed

How we verify · 0 failures in 53 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008. One check was skipped: revenue is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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