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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.

85.76 0.90 +1.06%
Market cap
$44.5B
P/E
156×
Fwd P/E
133×
Dividend yield
2.38%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K
Share dilution
All filings →

Insider Decisions trades per month

Total buys 0.20
Total sells 17.66
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — 1 — — — —
Sell 6 1 2 3 — — 1 — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 44,500.00
Revenue 6,441.57
Net Income 272.97
Free Cash Flow 1,396.72
Net Debt 12,463.97
Current Ratio 0.44
Debt/Equity 0.86
P/E ratio 155.93 (above 35: high)
Fwd P/E 133.00 (above 35: high)
P/S ratio 6.51
P/B ratio 2.85
Past 5Y EPS Growth (14.33%) (below 0%: weak)
This Y EPS Growth 9.18%
Next Y EPS Growth 60.41% (at or above 15%: strong)
Next Y revenue growth 19.54% (at or above 10%: strong)
Next 5Y EPS Growth 32.85% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.4×, against a ten-year median of 8.4×; over the ten years it ranged from 5.4× in 2020 to 10.9× in 2016.
P/E against its own 10 years 77.53%
10-year low 10-year high
P/S against its own 10 years 82.12%
10-year low 10-year high
P/B against its own 10 years 92.92%
10-year low 10-year high
EV/Sales against its own 10 years 52.30%
10-year low 10-year high
EV/FCF against its own 10 years 86.88%
10-year low 10-year high

Dividends

Payout Ratio 3.78
Annual Dividend Rate 2.04
Annual Dividend Yield 2.38%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.08
0.52
0.52
0.52
2025 1.92
0.48
0.48
0.48
0.48
2024 1.80
0.45
0.45
0.45
0.45
2023 1.80
0.45
0.45
0.45
0.45
2022 1.80
0.45
0.45
0.45
0.45
2021 1.80
0.45
0.45
0.45
0.45
2020 2.14
0.79
0.45
0.45
0.45
2019 3.17
0.79
0.79
0.79
0.79
2018 3.16
0.79
0.79
0.79
0.79
2017 3.12
0.78
0.78
0.78
0.79
2016 2.97
0.73
0.73
0.73
0.78
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 563 957 786 224
Receivables 28 145 144 436
Inventory — — — —
Other — — — —
591 1,102 930 660
2023 2024 2025 Q'26
Payables 1,042 1,152 1,241 1,349
ST’ Debt — — — —
Other — — — —
1,159 1,296 1,384 1,492

Compound Annual Growth %

10y 5y 3y
Sales 5.91% 8.98% 12.21%
Cash Flow 1.64% 2.57% 13.71%
Earnings (4.95%) (10.56%) 0.00%
Book Value 2.72% 4.13% 7.18%

Revenue $m

Mar Jun Sep Dec Year
’26 1,657 1,730 — — —
’25 1,358 1,421 1,489 1,566 5,834
’24 1,200 1,201 1,236 1,287 4,924
’23 1,077 1,106 1,150 1,164 4,498
’22 1,018 1,023 1,037 1,051 4,129
’21 910 919 976 1,022 3,828
’20 1,012 943 919 921 3,795
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 395 557 — — —
’25 321 475 379 472 1,647
’24 266 336 354 374 1,330
’23 243 312 286 279 1,120
’22 275 278 300 267 1,120
’21 238 291 231 266 1,026
’20 314 406 434 296 1,450
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 322 455 — — —
’25 262 400 286 334 1,283
’24 217 263 282 286 1,048
’23 199 259 222 180 860
’22 238 224 237 200 898
’21 208 247 186 200 841
’20 288 379 394 242 1,302
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.11 0.14 — — —
’25 0.10 0.15 0.14 0.15 0.54
’24 (0.04) 0.05 0.05 0.13 0.19
’23 0.04 0.26 (0.18) (0.23) (0.10)
’22 0.10 (0.11) 0.00 (0.11) (0.12)
’21 (0.15) 0.23 0.16 (0.10) 0.13
’20 1.26 (0.42) 0.03 0.29 1.17
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 46.87 58.96 46.55 54.59 13.35 45.40 35.33 39.33 41.45 56.68

Analyst estimates 2026–2028

Powerpack
High 76.80 72.36 65.70 75.40 63.38 61.09 64.02 53.15 67.61 81.89
People
People Employees 493 493 500 516 448 434 451 486 498 542
Revenue/emp, $m 6.98 7.25 7.49 7.51 8.47 8.82 9.16 9.25 9.89 10.76
Income, $m
Income, $m Revenue 3,444 3,574 3,746 3,873 3,795 3,828 4,129 4,498 4,924 5,834
Gross margin, % 94.22 93.39 93.46 92.53 92.59 92.77 93.26 93.03 93.49 94.38
EBT 519 585 385 359 81 (162) (94) (116) (8) 204
EBT margin, % 15.06 16.36 10.27 9.28 2.12 (4.24) (2.28) (2.57) (0.16) 3.50
Net income 651 1,361 416 439 441 57 (41) (30) 88 262
Depreciation 889 883 908 1,061 1,090 1,126 1,147 1,355 1,229 1,372
Per share, $
Per share, $ Revenue 9.99 10.06 10.51 10.58 10.17 10.00 10.33 11.19 11.96 12.82
Earnings 1.88 3.82 1.15 1.18 1.18 0.13 (0.12) (0.10) 0.20 0.55
Cash flow 3.93 4.02 3.88 3.93 3.88 2.68 2.80 2.79 3.23 3.62
Capex (0.34) (0.37) (0.37) (0.43) (0.40) (0.48) (0.56) (0.65) (0.68) (0.80)
Free cash flow 3.59 3.65 3.51 3.50 3.49 2.20 2.25 2.14 2.55 2.82
Book value 30.54 30.77 28.83 28.81 27.53 28.60 25.58 23.75 26.30 27.66
Shares, m 345 355 356 366 373 383 400 402 412 455
Valuation, ×
Valuation, × P/E 33.05 15.69 50.95 48.52 41.91 365.14 0.00 0.00 309.95 140.69
P/S 6.22 5.94 5.57 5.46 4.82 5.11 4.39 4.52 4.92 6.04
P/B 2.03 1.94 2.03 2.00 1.78 1.79 1.77 2.13 2.24 2.80
EV/Sales 9.34 9.04 8.40 8.56 7.84 8.20 7.33 7.39 7.48 8.13
EV/FCF 26.01 24.94 25.19 25.87 22.85 37.34 33.69 38.64 35.13 36.98
Cash, $m
Cash, $m Operating cash flow 1,355 1,429 1,381 1,438 1,450 1,026 1,120 1,120 1,330 1,647
Capex (117) (133) (132) (157) (148) (185) (222) (259) (282) (364)
Free cash flow 1,237 1,296 1,250 1,281 1,302 841 898 860 1,048 1,283
Balance, $m
Balance, $m Working capital 78 257 (558) (406) (187) (470) (434) (568) (194) (454)
Total debt 11,127 11,276 10,734 12,159 11,895 12,028 12,297 13,491 13,523 13,011
Net debt 10,760 11,088 10,602 12,013 11,444 11,831 12,126 12,927 12,565 12,225
Shareholders’ equity 10,529 10,932 10,272 10,545 10,278 10,946 10,222 9,544 10,830 12,586
Returns, %
Returns, % ROA 2.86 5.76 1.76 1.83 1.81 0.20 (0.19) (0.17) 0.32 0.93
ROIC 2.86 3.02 2.96 2.38 1.77 1.13 1.41 1.10 1.82 2.16
ROE 6.44 12.64 3.86 4.16 4.22 0.46 (0.45) (0.41) 0.80 2.15
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Ventas, Inc. vs peers in Reit Healthcare Facilities (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WELL Welltower Inc. $169.1B 105× — (loss-making) +39.10% (above 0%: growing) +36.96% (above 0%: growing) +142.90% (above 0%: growing) 39.28% 14.96% Compare
VTR Ventas, Inc. $44.5B 156× 133× +21.73% (above 0%: growing) −6.67% (below 0%: shrinking) +13.60% (above 0%: growing) 95.22% 13.43%
OHI Omega Healthcare Investors, Inc. $13.8B 16.1× 22.5× +16.19% (above 0%: growing) +163.04% (above 0%: growing) +710.56% (above 0%: growing) 100.00% 57.45% Compare
DOC Healthpeak Properties, Inc. $13.4B 54.2× 71.3× +11.12% (above 0%: growing) +60.00% (above 0%: growing) −30.47% (below 0%: shrinking) 56.83% 16.18% Compare
AHR American Healthcare REIT, Inc. $11.6B 78.3× 80.1× +24.29% (above 0%: growing) +166.67% (above 0%: growing) +9.53% (above 0%: growing) 20.35% 6.29% Compare
CTRE CareTrust REIT, Inc. $8.7B 23.0× 25.4× +43.46% (above 0%: growing) +5.56% (above 0%: growing) +88.99% (above 0%: growing) 98.66% 67.53% Compare
HR Healthcare Realty Trust Incorporated $6.0B — (loss-making) — (loss-making) −5.26% (below 0%: shrinking) n/m −28.80% (below 0%: shrinking) 64.88% 13.83% Compare
SBRA Sabra Healthcare REIT, Inc. $4.9B 74.4× 27.3× +24.70% (above 0%: growing) n/m −666.09% (below 0%: shrinking) 100.00% (13.59%) Compare
NHI National Health Investors, Inc. $3.2B 19.1× 20.2× +33.81% (above 0%: growing) +45.57% (above 0%: growing) +2,585.45% (above 0%: growing) 72.18% 41.09% Compare
Median of peers $10.1B 54.2× 26.4× +24.50% +52.78% +49.26% 68.53% 15.57%

All 16 Reit Healthcare Facilities stocks →

VTR metrics, ten years each

Ventas, Inc. (VTR) key facts

  • Strength: Ventas, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.8 billion, up 18.5% from fiscal 2024.
  • Strength: Net income was $261.5 million, or $0.55 per share (basic), a net margin of 4.31%.
  • Ventas, Inc. (VTR) is a Reit Healthcare Facilities company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, VTR traded at $85.76, a market capitalization of $44.5 billion.
  • At that price the stock trades at 156× trailing-twelve-month earnings and 6.5× sales; its P/E is higher than 78% of its own readings over the past ten years.
  • Ventas, Inc. pays an annual dividend of $2.04 per share, a yield of 2.38%.
  • Return on equity was 2.15% and debt-to-equity 0.86.
  • Its Piotroski F-score is 7 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Ventas, Inc. (VTR) Latest News

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stockrow.com/VTR · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com