Saturday 31 October 2026 Export VTR’s income statement to Excel — free account

Ventas, Inc.

VTR Real Estate Reit Healthcare Facilities

Ventas, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.8 billion, up 18.5% from fiscal 2024. In the quarter to June 2026, revenue grew 21.7%, EPS fell 6.67%, free cash flow grew 13.6% and total debt fell 2.82%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.

84.80 1.09 +1.30%

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Market cap: $45.2B
P/E: 154×
Fwd P/E: 140×
Dividend yield: 2.40%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Filings

Ventas, Inc. (VTR) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
SHOP	4,276	73.30%
OM&R	898	15.39%
NNN	602	10.31%
Other, not broken out	58	1.00%
Gross margin		94.38%
Operating margin		14.70%
Pre-tax margin		3.50%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
SHOP	4,276 73.30%	3,373 68.49%	2,959 65.79%	2,652 64.22%	2,270 59.30%	2,197 57.89%	2,152 55.56%	2,069 55.25%	1,843 51.57%	1,847 53.65%	1,811 55.11%	1,553 55.93%	1,406 55.87%	1,227 49.69%	866 50.00%	446 44.60%	421 45.60%
OM&R	898 15.39%	878 17.82%	870 19.34%	804 19.46%	803 20.97%	808 21.30%	837 21.61%	784 20.92%	761 21.29%	643 18.68%	601 18.28%	486 17.52%	462 18.37%	377 15.27%	200 11.57%	84 8.38%	36 3.89%
NNN	602 10.31%	622 12.63%	619 13.77%	598 14.49%	654 17.08%	695 18.32%	781 20.16%	740 19.76%	845 23.63%	851 24.71%	784 23.86%	679 24.46%	590 23.46%	824 33.38%	630 36.38%	454 45.33%	453 49.00%
Corporate and Other	—	—	—	—	—	—	—	—	—	—	—	—	—	41 1.66%	36 2.06%	17 1.69%	14 1.51%
Other, not broken out	58 1.00%	52 1.05%	50 1.10%	76 1.83%	102 2.65%	95 2.49%	104 2.67%	152 4.07%	125 3.50%	102 2.96%	90 2.75%	58 2.10%	58 2.29%	—	—	—	—
Revenue	5,834	4,924	4,498	4,129	3,828	3,795	3,873	3,746	3,574	3,444	3,286	2,777	2,517	2,470	1,732	1,001	923

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
United States	5,210 89.30%	4,367 88.68%	4,004 89.02%	3,652 88.45%	3,363 87.86%	3,381 89.09%	3,578 92.40%	3,525 94.10%	3,362 94.06%	3,242 94.16%	3,086 93.92%	2,637 94.95%	2,423 96.30%	2,374 96.11%	1,640 94.69%	916 91.55%	850 92.02%
Canada	553 9.48%	527 10.69%	465 10.33%	449 10.88%	435 11.36%	389 10.25%	267 6.89%	192 5.14%	186 5.21%	175 5.08%	174 5.29%	126 4.55%	93 3.70%	96 3.89%	92 5.31%	85 8.45%	74 7.98%
United Kingdom	71 1.22%	31 0.62%	29 0.64%	28 0.67%	30 0.78%	25 0.65%	27 0.71%	29 0.76%	26 0.74%	26 0.76%	26 0.80%	14 0.50%	0 0.00%	0 0.00%	—	—	—
Revenue	5,834	4,924	4,498	4,129	3,828	3,795	3,873	3,746	3,574	3,444	3,286	2,777	2,517	2,470	1,732	1,001	923

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
FFO a share	Q3 FY2026	$1.01	$0.88	+14.77%
RevPOR growth	Q3 FY2026	5.00%	—	—
SHOP same-store average occupancy growth	Q2 FY2026	300.00	—	—
U.S. average occupancy growth	Q2 FY2026	360.00	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
FFO a share	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
RevPOR growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
SHOP same-store average occupancy growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
U.S. average occupancy growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.