Welltower financials
$232.90−0.03%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.42B | $7.60B | $6.31B | $5.78B | $4.71B | $4.52B | $5.06B | $4.62B |
| Gross profit | $3.93B | $2.77B | $2.36B | $2.22B | $1.93B | $1.92B | $2.37B | $2.18B |
| Gross margin | 37.7% | 36.4% | 37.4% | 38.4% | 41.1% | 42.5% | 46.8% | 47.3% |
| Operating income | -$213.5M | $679.3M | $627.7M | $627.0M | $670.5M | $405.3M | $1.08B | $973.7M |
| Net income | $936.8M | $951.7M | $340.1M | $141.2M | $336.1M | $978.8M | $1.23B | $758.3M |
| Net margin | 9.0% | 12.5% | 5.4% | 2.4% | 7.1% | 21.7% | 24.4% | 16.4% |
| Diluted EPS | $1.39 | $1.57 | $0.66 | $0.30 | $0.78 | $2.33 | $3.05 | $2.02 |
| EBITDA | $2.05B | $2.45B | $2.11B | $1.98B | $1.77B | $1.64B | $2.24B | $2.08B |
| Operating cash flow | $2.88B | $2.26B | $1.60B | $1.33B | $1.28B | $1.36B | $1.54B | $1.58B |
| Free cash flow | -$12.52B | -$2.95B | -$3.49B | -$2.09B | -$3.51B | $14.7M | -$3.08B | -$2.40B |
| Diluted shares | 679.5M | 608.8M | 518.7M | 465.2M | 426.8M | 417.4M | 403.8M | 375.3M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $5.03B | $3.51B | $1.99B | $631.7M | $269.3M | $1.55B |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Total debt | $19.20B | $15.50B | $15.74B | $14.55B | $14.68B | $14.22B |
| Total assets | $67.30B | $51.04B | $44.01B | $37.89B | $34.91B | $32.48B |
| Total liabilities | $24.10B | $18.47B | $17.64B | $16.50B | $15.91B | $15.26B |
| Shareholders' equity | $42.94B | $32.32B | $26.08B | $21.01B | $18.60B | $16.88B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology