Ventas

Real Estate Health Care REITs Chicago, Illinois Last filing Feb 6, 2026 · FY2025

                    Revenue
                    FY2025
                
$5.8B
                    3y CAGR +12.2%
                    
                    P77
                    
                    +18.5%
                    
                    Net income
                    FY2025
                
$261.5M
                    Net margin +4.5%
                    
                    P20
                    
                    +196.0%
                    
                    Total assets
                    FY2025
                
$27.6B
                    ROA +0.9%
                    
                    P16
                    
                    +5.4%
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    
                    +23.8%

21 yrs · FY2005–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 5 years

Total assets $27.6B

Total liabilities $14.6B

Shareholders equity $12.5B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	-17.5%	+76.5%	+315.1%	-18.1%	—
Accounts Receivable	-7.6%	—	—	—	—
Other Current Assets	+4.1%	+16.0%	+12.1%	+7.9%	—
Operating Lease Assets	-4.0%	-1.3%	+0.6%	-2.4%	—
Goodwill	+0.1%	-0.0%	+0.1%	-0.2%	—
Intangible Assets	+7.4%	+7.9%	+9.6%	+4.0%	—
Deferred Tax Assets	+44.8%	+10.1%	-83.3%	-5.9%	—
Other Noncurrent Assets	+4.1%	+16.0%	+12.1%	+7.9%	—
Total Assets	+5.4%	+5.9%	+2.3%	-2.3%	—
Liabilities
Current Portion of Long Term Debt	—	—	-100.0%	+43.9%	—
Operating Lease Liabilities	-4.3%	+11.9%	+2.3%	-3.4%	—
Total Current Liabilities	-2.8%	+1.1%	+8.8%	+1.3%	—
Long Term Debt	-99.4%	+0.2%	+9.7%	+2.2%	—
Operating Lease Liabilities Noncurrent	-4.3%	+11.9%	+2.3%	-3.4%	—
Deferred Tax Liabilities	+187.2%	-66.7%	-31.1%	-40.0%	—
Total Liabilities	-2.8%	+1.1%	+8.8%	+1.3%	—
Equity
Preferred Stock	—	—	—	—	—
Common Stock	+8.8%	+8.4%	+0.7%	+0.1%	—
Additional Paid In Capital	+13.5%	+12.5%	+0.7%	+0.3%	—
Retained Earnings	-9.3%	-10.8%	-14.0%	-16.4%	—
Treasury Stock	-100.0%	+82.8%	+2467.9%	—	—
Accumulated Other Comprehensive Income	-18.9%	+6.2%	+2.8%	+43.0%	—
Noncontrolling Interest	+0.4%	+3.5%	-18.0%	-24.8%	—
Total Stockholders Equity	+16.3%	+13.5%	-6.5%	-6.5%	—
Total Liabilitiesand Equity	+5.4%	+5.9%	+2.3%	-2.3%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $5.8B

Operating income $-40.9M

Net income $261.5M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+18.5%	+9.5%	+8.9%	+7.9%	—
Expenses Cost of Revenue	+14.1%	+6.9%	+9.2%	+5.8%	—
Expenses Selling,General and Administrative	+8.8%	+9.5%	+2.8%	+11.6%	—
Expenses Depreciation and Amortization	+10.1%	-10.0%	+16.3%	+0.0%	—
Expenses Share Based Compensation	+25.0%	+0.0%	+0.9%	-3.9%	—
Expenses Operating Expenses	+14.1%	+6.9%	+9.2%	+5.8%	—
Other Income Expense Interest Income	+149.5%	-60.5%	-52.3%	-35.8%	—
Other Income Expense Interest Expense	+1.6%	+5.0%	+22.8%	+6.2%	—
Other Income Expense Income Before Tax	+2655.3%	+93.1%	-22.8%	+42.0%	—
Income Tax Income Tax Expense	+62.5%	-296.0%	+43.6%	-450.7%	—
net Income net Income	+196.0%	+391.6%	+26.0%	-172.4%	—
net Income Comprehensive Income	+193.9%	+308.8%	-102.4%	-150.8%	—
Earnings Per Share Basic Eps	+175.0%	+300.0%	+16.7%	-192.3%	—
Earnings Per Share Diluted Eps	+184.2%	+290.0%	+16.7%	-192.3%	—
Earnings Per Share Weighted Average Shares Basic	+10.5%	+2.5%	+0.6%	+4.4%	—
Earnings Per Share Weighted Average Shares Diluted	+11.1%	+2.6%	+0.5%	+4.4%	—

Cash Flow Statement

Operating, investing, and financing flows

16 accounts · 5 years

Operating cash flow $1.6B

Investing cash flow $-2.7B

Financing cash flow $873.8M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+196.0%	+391.6%	+26.0%	-172.4%	—
Operating Activities Depreciation and Amortization	+10.1%	-10.0%	+16.3%	+0.0%	—
Operating Activities Stock Based Compensation	+25.0%	+0.0%	+0.9%	-3.9%	—
Operating Activities net Cash From Operating Activities	+23.8%	+18.7%	-0.0%	+9.2%	—
Investing Activities Other Investing Activities	+41.4%	-79.8%	+28.3%	+966.5%	—
Investing Activities net Cash From Investing Activities	-13.3%	-1187.3%	+78.5%	-18.7%	—
Financing Activities Proceeds From Debt	-40.9%	-24.3%	+163.9%	-37.6%	—
Financing Activities Repayment of Debt	+9.8%	-17.8%	+242.9%	-72.7%	—
Financing Activities Dividends Paid	+16.2%	+2.3%	+0.4%	+4.9%	—
Financing Activities Proceeds From Stock Issuance	+325.5%	+1400.7%	-80.0%	+6.4%	—
Financing Activities Other Financing Activities	-45.4%	-79.2%	-43.7%	+1.7%	—
Financing Activities net Cash From Financing Activities	-39.5%	+365.8%	-91.5%	+49.2%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+171.2%	-417.0%	+143.8%	-298.3%	—
Cash Reconciliation net Change In Cash	-143.7%	+1.6%	+1803.3%	+91.0%	—
Cash Reconciliation Cash At Beginning of Period	-17.9%	+69.9%	+230.0%	-13.1%	—
Cash Reconciliation Cash At End of Period	-17.9%	+69.9%	+230.0%	-13.1%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+3.5%	-0.2%	-2.6%	-2.3%	-4.2%
Operating margin	—	—	—	-1.0%	+1.5%
Net margin	+4.5%	+1.8%	-0.7%	-1.0%	+1.5%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+12.2%	+8.8%	+5.8%	+2.2%	+0.7%
Returns
ROE	+2.1%	+0.8%	-0.3%	-0.4%	+0.5%
ROA	+0.9%	+0.3%	-0.1%	-0.2%	+0.2%
ROIC	—	—	—	-0.2%	+0.2%
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	0.06x	0.07x	0.03x	0.01x	0.01x
Leverage
D/E	1.17x	1.40x	1.57x	1.35x	1.24x
Interest coverage	—	—	—	-0.09x	0.13x
Efficiency
Asset turnover	0.21x	0.19x	0.18x	0.17x	0.15x
Cash conversion cycle	—	—	—	—	—

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Ventas

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