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

Welltower Inc.

WELL Real Estate Reit Healthcare Facilities

Welltower Inc.’s revenue for fiscal 2025 (year ended December 2025) was $10.8 billion, up 35.6% from fiscal 2024. In the quarter to June 2026, revenue grew 39.1%, EPS grew 37.0%, free cash flow grew 142.9% and total debt rose 11.0%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.

234.58 1.41 +0.60%

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Market cap: $171.1B
P/E: 105×
Fwd P/E: −32.0×
Dividend yield: 1.67%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Filings

Welltower Inc. (WELL) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2019: revenue by segment, and margins
Seniors Housing Operating	3,457	67.50%
Triple-net	973	18.99%
Outpatient Medical	688	13.43%
Gross margin		47.11%
Operating margin		23.56%
Pre-tax margin		10.60%

Revenue by segment $m

Line	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010
Seniors Housing Operating	3,197 100.00%	3,082 66.91%	3,457 67.50%	3,240 68.94%	2,785 64.51%	2,526 59.00%	2,168 56.18%	1,898 56.75%	1,617 56.15%	704 38.99%	456 34.73%	51 8.82%
Outpatient Medical	0 0.00%	720 15.63%	688 13.43%	557 11.85%	563 13.05%	545 12.74%	515 13.33%	417 12.48%	367 12.74%	304 16.86%	278 21.18%	202 34.85%
Triple-net	0 0.00%	801 17.40%	973 18.99%	901 19.17%	967 22.40%	1,209 28.24%	1,176 30.46%	1,028 30.74%	896 31.10%	796 44.10%	578 44.04%	323 55.84%
International	—	—	—	—	—	—	—	—	391 13.59%	27 1.47%	0 0.00%	—
Non Segment Corporate	—	—	—	—	—	—	—	—	0 0.01%	1 0.05%	1 0.05%	3 0.50%
Eliminations	—	—	—	—	—	—	—	—	(391) (13.59%)	(27) (1.47%)	—	—
Revenue	3,197	4,606	5,121	4,700	4,317	4,281	3,860	3,344	2,881	1,805	1,313	579

Gross profit by segment $m, and margin

	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010
Seniors Housing Operating	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Outpatient Medical	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Triple-net	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2012	FY2011
United States	5,898 69.77%	4,808 79.78%	3,812 80.19%	3,325 79.68%	2,389 74.73%	3,720 80.77%	4,205 82.12%	3,778 80.37%	3,465 80.26%	3,453 80.67%	3,133 81.18%	2,801 83.79%	1,779 98.53%	1,313 100.00%
United Kingdom	1,887 22.32%	684 11.35%	447 9.41%	401 9.61%	397 12.40%	451 9.80%	453 8.84%	453 9.64%	407 9.44%	388 9.07%	408 10.56%	305 9.13%	—	—
Canada	668 7.91%	535 8.88%	495 10.41%	447 10.71%	411 12.87%	434 9.43%	463 9.04%	470 9.99%	445 10.30%	439 10.26%	319 8.26%	237 7.08%	—	—
Other, not broken out	—	—	—	—	—	—	—	—	—	—	—	—	27 1.47%	—
Revenue	8,453	6,027	4,754	4,174	3,197	4,606	5,121	4,700	4,317	4,281	3,860	3,344	1,805	1,313

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

Figure	Quarter	Latest	A year before	Change
Average occupied units/month	Q3 FY2026	103.9K	77.9K	+33.45%
FFO a share	Q3 FY2026	$1.42	$1.20	+18.33%
SHO SS RevPOR	Q3 FY2026	$6,066.00	$5,983.00	+1.39%
Total portfolio year-over-year same store NOI growth	Q3 FY2026	15.8%	14.5%	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Average occupied units/month	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
FFO a share	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
SHO SS RevPOR	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total portfolio year-over-year same store NOI 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.