What is Welltower Inc.'s earnings per share (EPS)?

Welltower Inc. (WELL) reported diluted earnings per share of $1.39 for fiscal year 2025. This represents a -11.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Welltower Inc. (WELL) Financials

WELL

Trailing 12 months to March 31, 2026

Revenue $11.8B +37.6% YoY

Net Income $1.4B +32.9% YoY

EPS (Diluted) $2.01 +16.2% YoY

Operating Cash Flow $3.0B +20.6% YoY

Market Cap $169.8B as of Sep 11, 2026

Price / Sales 14.4x on $11.8B revenue, trailing 12 months to March 31, 2026

Price / Earnings 119x on $1.4B net income, trailing 12 months to March 31, 2026

Price / Book 3.9x on $43.8B equity, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported Apr 29, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed Apr 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WELL SEC filings page.

Welltower Inc. (WELL) reported $11.8B in revenue over the twelve months to Mar 31, 2026, up 37.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WELL FY2025 2026-09-05

Stable gross margins masked an operating model where overhead expansion absorbed growth, while capital deployment increasingly depended on external financing.

Revenue reached $10.8B in FY2025 while gross margin held at 40.1%, so the business retained its underlying spread as it expanded. Yet net margin fell to 8.6% as reported SG&A surged to $1.75B, showing that growth did not translate proportionally into bottom-line earnings.

Operating cash flow rose to $2.9B even as net income was only $937M, indicating stronger cash conversion than the income statement alone suggests. Depreciation and amortization reached $2.1B, so much of that gap reflects a large noncash charge rather than superior operating profitability.

Assets expanded to $67.3B, while liabilities increased more slowly, indicating that balance-sheet growth was not funded one-for-one with additional obligations. The $10.5B investing outflow alongside a $9.0B financing inflow shows that capital deployment relied substantially on financing, not only internally generated cash.

Financial Health Signals

Financial Health Score 42/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Welltower Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Welltower Inc. scores 50/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Welltower Inc. scores 85/100 on it among other REITs.

Leverage

Not available for Welltower Inc., and counted as zero in the overall score.

Interest Cov.

Not available for Welltower Inc., and counted as zero in the overall score.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Welltower Inc. scores 54/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Welltower Inc. scores 61/100 on it among other REITs.

Piotroski F-Score Partial

6/8

Welltower Inc. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

3.08x

For every $1 of reported earnings, Welltower Inc. generates $3.08 in operating cash flow ($2.9B OCF vs $936.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$3.4B

YoY+38.3%

QoQ+5.4%

5Y CAGR+26.1%

10Y CAGR+12.3%

Welltower Inc. generated $3.4B in revenue in Q1 2026. This represents an increase of 38.3% from the same quarter a year earlier. Against the prior quarter it is up 5.4%.

Net Income

$752.3M

YoY+192.4%

QoQ+710.9%

5Y CAGR+59.8%

10Y CAGR+16.4%

Welltower Inc. reported $752.3M in net income in Q1 2026. This represents an increase of 192.4% from the same quarter a year earlier. Against the prior quarter it is up 710.9%.

EPS (Diluted)

$1.02

YoY+155.0%

QoQ+684.6%

5Y CAGR+43.1%

10Y CAGR+9.3%

Welltower Inc. earned $1.02 per diluted share (EPS) in Q1 2026. This represents an increase of 155.0% from the same quarter a year earlier. Against the prior quarter it is up 684.6%.

EBITDA

Not reported for Q1 2026.

Cash & Balance Sheet

Cash & Debt

$4.7B

YoY+34.3%

QoQ-6.6%

5Y CAGR+17.1%

10Y CAGR+29.5%

Welltower Inc. held $4.7B in cash against $17.9B in long-term debt as of Q1 2026.

Dividends Per Share

$0.74

YoY+10.4%

Welltower Inc. paid $0.74 per share in dividends in Q1 2026. This represents an increase of 10.4% from the same quarter a year earlier.

Shares Outstanding

706M

YoY+7.9%

QoQ+1.2%

5Y CAGR+11.1%

10Y CAGR+7.1%

Welltower Inc. had 706M shares outstanding in Q1 2026. This represents an increase of 7.9% from the same quarter a year earlier. Against the prior quarter it is up 1.2%.

Free Cash Flow

Not reported for Q1 2026.

Margins & Returns

Gross Margin

38.7%

YoY-1.0pp

QoQ-0.5pp

5Y change-2.6pp

Welltower Inc.'s gross margin was 38.7% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.

Net Margin

22.4%

YoY+11.8pp

QoQ+19.5pp

5Y change+15.6pp

10Y change+6.6pp

Welltower Inc.'s net profit margin was 22.4% in Q1 2026, showing the share of revenue converted to profit. This is up 11.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 19.5 percentage points.

Return on Equity

1.7%

YoY+1.0pp

QoQ+1.5pp

5Y change+1.3pp

10Y change+0.6pp

Welltower Inc.'s ROE was 1.7% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.

Operating Margin

Not reported for Q1 2026.

Capital Allocation

None of these metrics is reported for Q1 2026.

WELL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WELL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$11.8B	$10.8B+35.6%	$8.0B+20.4%	$6.6B+13.3%	$5.9B+23.6%	$4.7B+3.0%	$4.6B-10.1%	$5.1B+9.0%	$4.7B+8.9%	$4.3B+0.8%	$4.3B+10.9%	$3.9B+15.4%	$3.3B+16.1%	$2.9B+59.6%	$1.8B+37.5%	$1.3B
Cost of Revenue	$7.1B	$6.5B+34.3%	$4.8B+22.4%	$3.9B+10.9%	$3.6B+28.3%	$2.8B+6.8%	$2.6B-3.4%	$2.7B+10.6%	$2.4B+16.8%	$2.1B	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$4.7B	$4.3B+37.6%	$3.2B+17.5%	$2.7B+16.9%	$2.3B+17.0%	$2.0B-2.0%	$2.0B-17.4%	$2.4B+7.2%	$2.3B+1.6%	$2.2B	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.8B	$1.7B+642.5%	$235.5M+31.5%	$179.1M+19.1%	$150.4M+18.7%	$126.7M-1.3%	$128.4M+1.5%	$126.5M+0.1%	$126.4M+3.6%	$122.0M-21.4%	$155.2M+5.3%	$147.4M+3.1%	$142.9M+32.0%	$108.3M+11.3%	$97.3M+26.1%	$77.2M
Interest Expense	$699.7M	$652.0M+13.5%	$574.3M-5.5%	$607.8M+14.8%	$529.5M+8.1%	$489.9M-4.8%	$514.4M-7.4%	$555.6M+5.5%	$526.6M+8.7%	$484.6M-7.0%	$521.3M+5.9%	$492.2M+2.3%	$481.0M+4.9%	$458.4M+26.8%	$361.6M+24.3%	$291.0M
Income Tax	$10.0M	-$7.1M-363.6%	$2.7M-57.6%	$6.4M-12.2%	$7.2M-16.8%	$8.7M-12.6%	$10.0M+237.1%	$3.0M-65.9%	$8.7M-56.9%	$20.1M+205.2%	-$19.1M-396.5%	$6.5M+609.2%	-$1.3M-116.9%	$7.5M-1.6%	$7.6M+648.4%	-$1.4M
Net Income	$1.4B	$936.8M-1.6%	$951.7M+179.8%	$340.1M+140.8%	$141.2M-58.0%	$336.1M-67.6%	$1.0B-21.9%	$1.3B+60.3%	$829.8M+53.5%	$540.6M-50.0%	$1.1B+21.8%	$888.5M+73.4%	$512.3M+270.5%	$138.3M-53.1%	$294.8M+35.5%	$217.6M
EPS (Basic)	N/A	$1.41-10.8%	$1.58+139.4%	$0.66+112.9%	$0.31-60.8%	$0.79-66.5%	$2.36-23.1%	$3.07+51.2%	$2.03+61.1%	$1.26-55.5%	$2.83+20.4%	$2.35+61.0%	$1.46+421.4%	$0.28-71.7%	$0.99+10.0%	$0.90
EPS (Diluted)	$2.01	$1.39-11.5%	$1.57+137.9%	$0.66+120.0%	$0.30-61.5%	$0.78-66.5%	$2.33-23.6%	$3.05+51.0%	$2.02+60.3%	$1.26-55.2%	$2.81+20.1%	$2.34+61.4%	$1.45+417.9%	$0.28	$0.98+8.9%	$0.90
Diluted Shares (Avg)	N/A	680M+11.6%	609M+17.4%	519M+11.5%	465M+9.0%	427M+2.3%	417M+3.4%	404M+7.6%	375M+1.7%	369M+2.4%	360M+3.1%	349M+13.5%	308M+10.4%	279M	226M+29.6%	174M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$3.4B+38.3%	$3.2B+41.3%	$2.7B+30.6%	$2.5B+39.6%	$2.4B+30.3%	$2.3B+28.6%	$2.1B+23.7%	$1.8B+9.6%
Cost of Revenue	$2.1B+40.6%	$1.9B+37.2%	$1.6B+30.0%	$1.5B+36.3%	$1.5B+33.3%	$1.4B+36.0%	$1.2B+21.8%	$1.1B+15.9%
Gross Profit	$1.3B+35.0%	$1.2B+48.2%	$1.1B+31.5%	$1.0B+44.8%	$960.7M+25.9%	$841.5M+17.9%	$843.0M+26.4%	$713.6M+1.0%
SG&A Expenses	$67.5M+5.8%	$1.6B+3097.4%	$63.1M-19.0%	$64.2M+15.5%	$63.8M+19.6%	$48.7M+9.9%	$77.9M+69.0%	$55.6M+25.5%
Interest Expense	$192.7M+32.9%	$203.8M+31.9%	$162.1M+16.5%	$141.2M+5.8%	$145.0M-1.6%	$154.5M-0.1%	$139.1M-11.2%	$133.4M-12.4%
Income Tax	$11.6M+310.8%	-$5.0M-4472.8%	$2.3M+149.6%	$1.1M-4.4%	-$5.5M-189.1%	$114K+102.4%	-$4.7M-202.7%	$1.1M-68.6%
Net Income	$752.3M+192.4%	$92.8M-9.6%	$282.2M-38.2%	$304.6M+16.9%	$257.3M+95.4%	$102.6M+45.7%	$456.8M+239.1%	$260.7M+145.1%
EPS (Basic)	$1.04+160.0%	$0.13-27.8%	$0.42-43.2%	$0.46+9.5%	$0.40+81.8%	$0.18+20.0%	$0.74+208.3%	$0.42+100.0%
EPS (Diluted)	$1.02+155.0%	$0.13-27.8%	$0.41-43.8%	$0.45+7.1%	$0.40+81.8%	$0.18+12.5%	$0.73+204.2%	$0.42+110.0%
Diluted Shares (Avg)	726M+11.1%	N/A	685M+10.9%	668M+10.5%	654M+13.2%	N/A	618M+17.7%	605M+20.4%

Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA.

WELL Balance Sheet

WELL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$67.3B+31.9%	$51.0B+16.0%	$44.0B+16.1%	$37.9B+8.5%	$34.9B+7.5%	$32.5B-2.7%	$33.4B+10.0%	$30.3B+8.6%	$27.9B-3.2%	$28.9B-0.5%	$29.0B+16.3%	$25.0B+8.1%	$23.1B+18.1%	$19.5B+31.0%	$14.9B
Cash & Equivalents	$5.0B+43.5%	$3.5B+75.9%	$2.0B+215.6%	$631.7M+134.6%	$269.3M-82.6%	$1.5B+442.3%	$284.9M+32.3%	$215.4M-11.7%	$243.8M-59.9%	$607.2M+43.7%	$422.7M-23.6%	$553.4M+248.5%	$158.8M-84.6%	$1.0B+532.3%	$163.5M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$251.1M+12.8%	$222.5M-32.6%	$330.1M+14.2%	$289.2M+29.3%	$223.6M-6.9%	$240.3M-28.7%	$336.9M+19.3%	$282.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$346.3M+132.1%	$149.2M+118.4%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M0.0%	$68.3M
Total Liabilities	$24.1B+30.5%	$18.5B+4.7%	$17.6B+6.9%	$16.5B+3.7%	$15.9B+4.3%	$15.3B-6.9%	$16.4B+14.4%	$14.3B+13.3%	$12.6B-4.1%	$13.2B-3.5%	$13.7B+19.8%	$11.4B+1.0%	$11.3B+25.6%	$9.0B+18.2%	$7.6B
Long-Term Debt	$19.2B+23.9%	$15.5B-1.5%	$15.7B+6.9%	$14.7B+5.8%	$13.9B+484.9%	$2.4B-82.3%	$13.4B+10.1%	$12.2B+10.4%	$11.0B-5.9%	$11.7B-3.3%	$12.1B+12.7%	$10.8B+3.1%	$10.4B+23.4%	$8.5B+28.7%	$6.6B
Total Equity	$42.1B+31.8%	$32.0B+25.8%	$25.4B+25.2%	$20.3B+15.1%	$17.6B+10.4%	$16.0B+2.8%	$15.5B+6.2%	$14.6B+1.5%	$14.4B-2.6%	$14.8B+1.5%	$14.6B+10.7%	$13.2B+15.4%	$11.4B+10.9%	$10.3B+44.5%	$7.1B
Retained Earnings	$11.0B+9.3%	$10.1B+10.4%	$9.1B+3.9%	$8.8B+1.6%	$8.7B+4.0%	$8.3B+13.2%	$7.4B+20.1%	$6.1B+15.1%	$5.3B+10.7%	$4.8B+28.9%	$3.7B	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$67.2B+26.1%	$67.3B+31.9%	$59.5B+21.6%	$55.8B+22.6%	$53.3B+19.6%	$51.0B+16.0%	$49.0B+17.5%	$45.5B+13.7%
Cash & Equivalents	$4.7B+34.3%	$5.0B+43.5%	$6.8B+90.9%	$4.4B+58.8%	$3.5B+46.6%	$3.5B+75.9%	$3.6B+38.1%	$2.8B+26.0%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$284.2M+28.2%	$251.1M+12.8%	$608.7M+146.0%	$230.3M-33.8%	$221.7M-34.5%	$222.5M-32.6%	$247.4M-20.4%	$347.6M+16.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$342.9M+71.3%	$346.3M+132.1%	$205.6M+200.9%	$208.5M+205.2%	$200.2M+193.0%	$149.2M+118.4%	$68.3M0.0%	$68.3M0.0%
Total Liabilities	$22.3B+19.1%	$24.1B+30.5%	$20.2B+12.9%	$19.3B+21.7%	$18.7B+16.9%	$18.5B+4.7%	$17.9B+0.3%	$15.8B-11.3%
Long-Term Debt	$17.9B+14.1%	$19.2B+23.9%	$16.9B+6.9%	$16.0B+14.6%	$15.7B+10.7%	$15.5B-1.5%	$15.8B-0.4%	$13.9B-12.9%
Total Equity	$43.8B+29.0%	$42.1B+31.8%	$38.8B+27.8%	$35.9B+23.9%	$34.0B+23.3%	$32.0B+25.8%	$30.3B+32.2%	$29.0B+36.7%
Retained Earnings	$11.8B+13.6%	$11.0B+9.3%	$10.9B+9.6%	$10.7B+11.9%	$10.4B+11.7%	$10.1B+10.4%	$10.0B+10.1%	$9.5B+6.6%

Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Non-Current Liabilities.

WELL Cash Flow Statement

WELL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$3.0B	$2.9B+27.7%	$2.3B+40.9%	$1.6B+20.6%	$1.3B+4.2%	$1.3B-6.6%	$1.4B-11.1%	$1.5B-3.0%	$1.6B+10.4%	$1.4B-12.5%	$1.6B+18.5%	$1.4B+21.4%	$1.1B+15.2%	$988.5M+20.8%	$818.1M+39.1%	$588.2M
Depreciation & Amortization	N/A	$2.1B+27.7%	$1.6B+16.5%	$1.4B+6.9%	$1.3B+26.3%	$1.0B-0.1%	$1.0B+1.1%	$1.0B+8.1%	$950.5M+3.1%	$921.7M+2.3%	$901.2M+9.1%	$826.2M-2.1%	$844.1M-3.4%	$874.0M+63.8%	$533.6M+26.0%	$423.6M
Stock-Based Compensation	N/A	$1.6B+1953.2%	$75.8M+103.8%	$37.2M+42.3%	$26.1M+46.8%	$17.8M-37.1%	$28.3M+13.1%	$25.0M-9.4%	$27.6M+44.7%	$19.1M-33.8%	$28.9M-6.4%	$30.8M-3.8%	$32.1M+59.0%	$20.2M+8.9%	$18.5M+71.7%	$10.8M
Investing Cash Flow	-$9.3B	-$10.5B-90.6%	-$5.5B+3.4%	-$5.7B-54.1%	-$3.7B+18.0%	-$4.5B-292.4%	$2.3B+214.6%	-$2.0B+14.1%	-$2.4B-1643.8%	$154.6M+184.3%	-$183.4M+94.8%	-$3.5B-64.7%	-$2.1B+39.8%	-$3.5B+1.7%	-$3.6B+20.5%	-$4.5B
Financing Cash Flow	$7.5B	$9.0B+83.5%	$4.9B-10.0%	$5.4B+97.3%	$2.8B+76.1%	$1.6B+175.3%	-$2.1B-460.5%	$577.1M-29.5%	$818.4M+142.8%	-$1.9B-53.0%	-$1.3B-162.6%	$2.0B+53.3%	$1.3B-21.9%	$1.7B-54.2%	$3.6B-8.0%	$4.0B
Dividends Paid	$2.0B	$1.9B+21.5%	$1.5B+22.6%	$1.3B+11.4%	$1.1B+9.2%	$1.0B-7.4%	$1.1B-20.3%	$1.4B+8.1%	$1.3B+1.8%	$1.3B+3.6%	$1.2B+7.8%	$1.1B+18.1%	$969.7M+15.4%	$839.9M+28.6%	$653.3M+35.1%	$483.7M
Share Buybacks	N/A	N/A	N/A	N/A	$0	$0-100.0%	$7.7M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	$670.0M+11.9%	$654.3M+17.0%	$858.4M+25.3%	$770.0M+27.2%	$599.0M+47.2%	$559.2M+50.9%	$685.0M+56.0%	$605.4M+45.4%
Depreciation & Amortization	$622.8M+28.2%	$594.2M+23.7%	$509.8M+26.3%	$495.0M+29.6%	$485.9M+32.8%	$480.4M+26.2%	$403.8M+19.0%	$382.0M+11.7%
Stock-Based Compensation	$18.8M+7.6%	N/A	$15.6M-60.9%	$15.3M+47.4%	$17.5M+45.3%	N/A	$39.9M+352.4%	$10.3M-1.5%
Investing Cash Flow	-$807.2M+60.2%	-$5.5B-147.3%	-$1.6B-12.5%	-$1.4B-9.4%	-$2.0B-249.1%	-$2.2B+29.9%	-$1.4B-17.1%	-$1.3B-225.1%
Financing Cash Flow	-$199.5M-115.3%	$3.0B+90.7%	$3.2B+93.2%	$1.4B+33.9%	$1.3B+126.1%	$1.6B-25.6%	$1.7B+38.8%	$1.1B-35.1%
Dividends Paid	$520.5M+20.4%	$509.6M+21.9%	$496.9M+21.6%	$439.1M+19.9%	$432.4M+22.8%	$418.2M+23.6%	$408.8M+28.3%	$366.1M+20.7%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

WELL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WELL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	40.1%+0.6pp	39.6%-1.0pp	40.5%+1.3pp	39.3%-2.2pp	41.5%-2.1pp	43.6%-3.9pp	47.5%-0.8pp	48.2%-3.5pp	51.7%	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	8.6%-3.3pp	11.9%+6.8pp	5.1%+2.7pp	2.4%-4.7pp	7.1%-15.5pp	22.6%-3.4pp	26.0%+8.3pp	17.6%+5.1pp	12.5%-12.8pp	25.3%+2.3pp	23.0%+7.7pp	15.3%+10.5pp	4.8%-11.5pp	16.3%-0.2pp	16.6%
Return on Equity	2.2%-0.8pp	3.0%+1.6pp	1.3%+0.6pp	0.7%-1.2pp	1.9%-4.6pp	6.5%-2.1pp	8.6%+2.9pp	5.7%+1.9pp	3.8%-3.6pp	7.3%+1.2pp	6.1%+2.2pp	3.9%+2.7pp	1.2%-1.7pp	2.9%-0.2pp	3.0%
Return on Assets	1.4%-0.5pp	1.9%+1.1pp	0.8%+0.4pp	0.4%-0.6pp	1.0%-2.2pp	3.2%-0.8pp	4.0%+1.3pp	2.7%+0.8pp	1.9%-1.8pp	3.8%+0.7pp	3.1%+1.0pp	2.1%+1.5pp	0.6%-0.9pp	1.5%+0.1pp	1.5%
Debt-to-Equity	0.460.0x	0.48-0.1x	0.62-0.1x	0.72-0.1x	0.79+0.6x	0.15-0.7x	0.860.0x	0.83+0.1x	0.770.0x	0.790.0x	0.830.0x	0.82-0.1x	0.91+0.1x	0.82-0.1x	0.92
Asset Turnover	0.160.0x	0.160.0x	0.150.0x	0.150.0x	0.140.0x	0.140.0x	0.150.0x	0.150.0x	0.150.0x	0.150.0x	0.130.0x	0.130.0x	0.120.0x	0.090.0x	0.09

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Gross Margin	38.7%-1.0pp	39.2%+1.8pp	41.3%+0.3pp	40.6%+1.5pp	39.6%-1.4pp	37.4%-3.4pp	41.0%+0.9pp	39.1%-3.3pp
Net Margin	22.4%+11.8pp	2.9%-1.6pp	10.5%-11.7pp	11.9%-2.3pp	10.6%+3.5pp	4.6%+0.5pp	22.2%+14.1pp	14.3%+7.9pp
Return on Equity	1.7%+1.0pp	0.2%-0.1pp	0.7%-0.8pp	0.9%0.0pp	0.8%+0.3pp	0.3%0.0pp	1.5%+0.9pp	0.9%+0.4pp
Return on Assets	1.1%+0.6pp	0.1%-0.1pp	0.5%-0.5pp	0.5%0.0pp	0.5%+0.2pp	0.2%0.0pp	0.9%+0.6pp	0.6%+0.3pp
Debt-to-Equity	0.41-0.1x	0.460.0x	0.43-0.1x	0.440.0x	0.46-0.1x	0.48-0.1x	0.52-0.2x	0.48-0.3x
Asset Turnover	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.040.0x	0.040.0x	0.040.0x

Not reported in any period shown, so not listed: Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Welltower Inc. WELL	FY2025	$10.8B	$936.8M	8.6%	$169.8B	42/100
Ventas VTR	FY2025	$5.8B	$261.5M	4.5%	$45.8B	33/100
Healthpeak Properties Inc DOC	FY2025	$2.8B	$71.3M	2.5%	$14.1B	34/100
Omega Healthcare OHI	FY2025	$1.2B	$609K	0.1%	$14.3B	26/100
Caretrust CTRE	FY2025	$476.4M	$320.5M	67.3%	$9.2B	58/100
AMERICAN HEALTHCARE REIT INC AHR	FY2025	$2.3B	$70.8M	3.1%	$11.7B	53/100

Where Welltower Inc. Ranks

Frequently Asked Questions

What is Welltower Inc.'s annual revenue?

Welltower Inc. (WELL) reported $10.8B in total revenue for fiscal year 2025. This represents a 35.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Welltower Inc.'s revenue growing?

Welltower Inc. (WELL) revenue grew by 35.6% year-over-year, from $8.0B to $10.8B in fiscal year 2025.

Is Welltower Inc. profitable?

Yes, Welltower Inc. (WELL) reported a net income of $936.8M in fiscal year 2025, with a net profit margin of 8.6%.

How much debt does Welltower Inc. have?

As of fiscal year 2025, Welltower Inc. (WELL) had $5.0B in cash and equivalents against $19.2B in long-term debt.

What is Welltower Inc.'s gross margin?

Welltower Inc. (WELL) had a gross margin of 40.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Welltower Inc.'s net profit margin?

Welltower Inc. (WELL) had a net profit margin of 8.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Welltower Inc. pay dividends?

Yes, Welltower Inc. (WELL) paid $2.82 per share in dividends during fiscal year 2025.

What is Welltower Inc.'s return on equity (ROE)?

Welltower Inc. (WELL) has a return on equity of 2.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Welltower Inc.'s operating cash flow?

Welltower Inc. (WELL) generated $2.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Welltower Inc.'s total assets?

Welltower Inc. (WELL) had $67.3B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Welltower Inc. have outstanding?

Welltower Inc. (WELL) had 698M shares outstanding as of fiscal year 2025.

What is Welltower Inc.'s debt-to-equity ratio?

Welltower Inc. (WELL) had a debt-to-equity ratio of 0.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Welltower Inc.'s return on assets (ROA)?

Welltower Inc. (WELL) had a return on assets of 1.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Welltower Inc.'s P/E ratio?

Welltower Inc. (WELL) trades at 119x earnings, its market capitalization divided by net income of $1.4B net income, trailing 12 months to March 31, 2026. The market capitalization is $169.8B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Welltower Inc.'s price-to-sales ratio?

Welltower Inc. (WELL) trades at 14.4x sales, its market capitalization divided by revenue of $11.8B revenue, trailing 12 months to March 31, 2026. The market capitalization is $169.8B as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Welltower Inc.'s Piotroski F-Score?

Welltower Inc. (WELL) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Welltower Inc.'s earnings high quality?

Welltower Inc. (WELL) has an earnings quality ratio of 3.08x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Welltower Inc.?

Welltower Inc. (WELL) scores 42 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.