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Welltower (WELL)

NYSE Real Estate Health Care REITs S&P 500
$245.01
-0.42 (-0.17%)
Close of Nov 06, 2026 · end-of-day data
Source: Welltower's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$4.28B$4.32B$4.70B$5.12B$4.61B$3.20B$4.17B$4.75B$6.03B$8.45B
Cost of revenue—$2.08B$2.43B$2.69B$2.60B$2.77B$3.56B$3.95B$4.83B$6.49B
Gross profit—$2.23B$2.27B$2.43B$2.01B$422.66M$614.94M$806.03M$1.20B$1.96B
Selling, general & admin$155.24M$122.01M$126.38M$126.55M$128.39M$126.73M$150.39M$179.09M$235.49M$1.75B
Interest expense$521.35M$484.62M$526.59M$555.56M$514.39M$489.85M$529.52M$607.85M——
Pre-tax income$709.25M$299.62M$423.49M$542.89M-$31.55M$170.75M$173.06M$350.05M$524.44M—
Income tax-$19.13M$20.13M$8.67M$2.96M$9.97M$8.71M$7.25M$6.36M$2.70M-$7.12M
Net income$1.01B$463.60M$758.25M$1.23B$978.84M$336.14M$141.21M$340.09M$951.68M$936.85M
EPS (basic)$2.83$1.26$2.03$3.07$2.36$0.79$0.31$0.66$1.58$1.41
EPS (diluted)$2.81$1.26$2.02$3.05$2.33$0.78$0.30$0.66$1.57$1.39
Diluted shares360.23M369.00M375.25M403.81M417.39M426.84M465.16M518.70M608.75M679.52M
Gross margin—51.7%48.2%47.5%43.6%13.2%14.7%17.0%19.9%23.2%
Net margin23.6%10.7%16.1%24.1%21.3%10.5%3.4%7.2%15.8%11.1%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$607.22M$243.78M$215.38M$284.92M$1.55B$269.26M$631.68M$1.99B$3.51B$5.03B
Goodwill$68.32M$68.32M$68.32M$68.32M$68.32M$68.32M$68.32M$68.32M$149.22M$346.32M
Total assets$28.87B$27.94B$30.34B$33.38B$32.48B$34.91B$37.89B$44.01B$51.04B$67.30B
Long-term debt$11.73B$11.04B$12.19B$13.42B$2.38B$13.91B$14.71B$15.74B$15.50B$19.20B
Total debt$11.73B$11.04B$12.19B$13.42B$2.38B$13.91B$14.71B$15.74B$15.50B$19.20B
Total liabilities$13.19B$12.64B$14.33B$16.40B$15.26B$15.91B$16.50B$17.64B$18.47B$24.10B
Shareholders' equity$14.81B$14.42B$14.63B$15.54B$15.97B$17.64B$20.29B$25.40B$31.96B$42.13B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$1.64B$1.43B$1.58B$1.54B$1.36B$1.28B$1.33B$1.60B$2.26B$2.88B
Capital expenditures$219.15M$250.28M$266.18M$328.82M$244.99M$282.59M$476.02M$517.68M$857.55M$1.05B
Free cash flow$1.42B$1.18B$1.32B$1.21B$1.12B$992.74M$852.69M$1.08B$1.40B$1.83B
Investing cash flow-$183.44M$154.58M-$2.39B-$2.05B$2.35B-$4.52B-$3.70B-$5.71B-$5.51B-$10.51B
Financing cash flow-$1.25B-$1.91B$818.37M$577.15M-$2.08B$1.57B$2.76B$5.45B$4.91B$9.00B
Dividends paid$1.23B$1.28B$1.30B$1.40B$1.12B$1.04B$1.13B$1.26B$1.55B$1.88B
Share buybacks——$0$0$7.66M$0$0———
Stock-based compensation$28.87M$19.10M$27.65M$25.05M$28.32M$17.81M$26.15M$37.20M$75.82M$1.56B
Depreciation & amortization$901.24M$921.72M$950.46M$1.03B$1.04B$1.04B$1.31B$1.40B$1.63B$2.08B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.