Welltower

Real Estate Health Care REITs Toledo, Ohio Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$10.8B
                    3y CAGR +22.7%
                    
                    P97
                    
                    +35.6%
                    
                    Net income
                    FY2025
                
$961.8M
                    Net margin +8.9%
                    
                    P30
                    
                    -1.1%
                    
                    Total assets
                    FY2025
                
$67.3B
                    ROA +1.4%
                    
                    P26
                    
                    +31.9%
                    
                    Operating cash flow
                    FY2025
                
$2.9B
                    FCF margin +16.9%
                    
                    P27
                    
                    +27.7%

20 yrs · FY2004–FY2025 2 gaps (2006–2005) 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

22 accounts · 3 years

Total assets $67.3B

Total liabilities $24.1B

Shareholders equity $42.1B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	+58.9%	+75.9%	—
Accounts Receivable	-12.8%	-32.6%	—
Other Current Assets	+33.9%	+37.4%	—
Goodwill	+125.1%	+118.4%	—
Intangible Assets	+32.9%	+29.4%	—
Other Noncurrent Assets	+33.9%	+37.4%	—
Total Assets	+23.7%	+16.0%	—
Liabilities
Operating Lease Liabilities	+132.6%	+278.9%	—
Total Current Liabilities	+16.9%	+4.7%	—
Long Term Debt	—	—	—
Operating Lease Liabilities Noncurrent	+132.6%	+278.9%	—
Deferred Tax Liabilities	—	+3.4%	—
Total Liabilities	+16.9%	+4.7%	—
Equity
Preferred Stock	+0.0%	+0.0%	—
Common Stock	+11.0%	+12.6%	—
Additional Paid In Capital	+24.7%	+22.2%	—
Retained Earnings	+9.8%	+10.4%	—
Treasury Stock	-64.1%	+2.3%	—
Accumulated Other Comprehensive Income	—	—	—
Noncontrolling Interest	+9.4%	-46.8%	—
Total Stockholders Equity	+28.8%	+25.8%	—
Total Liabilitiesand Equity	+23.7%	+16.0%	—

Income Statement

Revenue, expense, and profitability

14 accounts · 3 years

Revenue $10.8B

Operating income Not reported

Net income $961.8M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+27.8%	+20.4%	—
Expenses Cost of Revenue	+28.2%	+22.4%	—
Expenses Selling,General and Administrative	+212.5%	+31.5%	—
Expenses Depreciation and Amortization	+22.0%	+16.5%	—
Expenses Share Based Compensation	+546.9%	+103.8%	—
Expenses Operating Expenses	+34.2%	+18.7%	—
Other Income Expense Interest Expense	-86.8%	-99.3%	—
Income Tax Income Tax Expense	—	-57.6%	—
net Income net Income	+63.9%	+171.6%	—
net Income Comprehensive Income	+80.6%	+159.3%	—
Earnings Per Share Basic Eps	+46.2%	+139.4%	—
Earnings Per Share Diluted Eps	+45.1%	+137.9%	—
Earnings Per Share Weighted Average Shares Basic	+13.6%	+16.9%	—
Earnings Per Share Weighted Average Shares Diluted	+14.5%	+17.4%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $2.9B

Investing cash flow $-10.5B

Financing cash flow $9.0B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+63.9%	+171.6%	—
Operating Activities Depreciation and Amortization	+22.0%	+16.5%	—
Operating Activities Stock Based Compensation	+546.9%	+103.8%	—
Operating Activities Deferred Income Taxes	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	—	—	—
Operating Activities Other Non Cash Items	—	—	—
Operating Activities net Cash From Operating Activities	+34.1%	+40.9%	—
Investing Activities Capital Expenditures	+42.4%	+65.7%	—
Investing Activities Other Investing Activities	-14.2%	-39.1%	—
Investing Activities net Cash From Investing Activities	—	—	—
Financing Activities Proceeds From Debt	—	—	—
Financing Activities Repayment of Debt	-25.6%	-32.9%	—
Financing Activities Dividends Paid	+22.1%	+22.6%	—
Financing Activities Proceeds From Stock Issuance	+210.5%	+360.3%	—
Financing Activities Other Financing Activities	—	—	—
Financing Activities net Cash From Financing Activities	+28.5%	-10.0%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+242.6%	—	—
Cash Reconciliation net Change In Cash	+5.2%	+20.8%	—
Cash Reconciliation Cash At Beginning of Period	+58.4%	+78.8%	—
Cash Reconciliation Cash At End of Period	+58.4%	+78.8%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+40.1%	+39.6%	+40.5%
Operating margin	—	—	—
Net margin	+8.9%	+12.2%	+5.4%
FCF margin	+16.9%	+17.5%	+16.3%
Growth
Revenue CAGR (3y)	+22.7%	+19.0%	+13.0%
Returns
ROE	+2.3%	+3.0%	+1.4%
ROA	+1.4%	+1.9%	+0.8%
ROIC	—	—	—
Liquidity
Current ratio	—	—	—
Quick ratio	0.22x	0.20x	0.13x
Leverage
D/E	0.57x	0.58x	0.69x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.16x	0.16x	0.15x
Cash conversion cycle	—	—	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Welltower

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