WELL
Welltower Inc
NYSE: WELL · REAL ESTATE · REIT - HEALTHCARE FACILITIES
$212.09
-1.00% today
Updated 2026-04-29
Market cap
$147.07B
P/E ratio
147.01
P/S ratio
13.57x
EPS (TTM)
$1.42
Dividend yield
1.39%
52W range
$141 – $216
Volume
2.9M
Welltower Inc (WELL) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $288.24M | $429.49M | $526.41M | $523.29M | $571.33M | $1.30B | $1.80B | $2.88B | $3.34B | $3.84B | $4.25B | $4.30B | $4.67B | $5.10B | $4.59B | $4.71B | $5.78B | $6.48B | $7.85B | $10.67B |
| Revenue growth (YoY) | — | +49.0% | +22.6% | -0.6% | +9.2% | +127.9% | +38.2% | +59.8% | +16.0% | +15.2% | +10.7% | +1.1% | +8.7% | +9.2% | -10.1% | +2.7% | +22.6% | +12.2% | +21.2% | +35.8% |
| Cost of revenue | $1.04M | $33.41M | $42.63M | $42.50M | $77.79M | $375.06M | $567.99M | $1.21B | $1.40B | $1.62B | $1.88B | $2.08B | $2.43B | $2.69B | $2.60B | $2.77B | $3.56B | $3.95B | $4.83B | $6.49B |
| Gross profit | $287.20M | $396.08M | $483.77M | $480.79M | $493.54M | $926.82M | $1.23B | $1.67B | $1.93B | $2.22B | $2.37B | $2.22B | $2.24B | $2.41B | $1.99B | $1.93B | $2.22B | $2.53B | $3.02B | $4.18B |
| Gross margin | 99.6% | 92.2% | 91.9% | 91.9% | 86.4% | 71.2% | 68.4% | 58.0% | 57.9% | 57.8% | 55.9% | 51.5% | 47.9% | 47.3% | 43.4% | 41.1% | 38.4% | 39.1% | 38.5% | 39.2% |
| R&D | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $26.00M | $37.65M | $47.19M | $49.69M | $54.63M | $77.20M | $97.34M | $108.32M | $142.94M | $147.42M | $155.24M | $122.01M | $126.38M | $126.55M | $128.39M | $126.73M | $150.39M | $179.09M | $235.49M | $1.75B |
| Operating income | $178.45M | $234.38M | $292.12M | $267.14M | $244.06M | $461.13M | $601.22M | $693.50M | $945.24M | $1.25B | $1.31B | $1.11B | $1.16B | $1.24B | $727.45M | $763.36M | $746.22M | $940.45M | $1.15B | $355.17M |
| Operating margin | 61.9% | 54.6% | 55.5% | 51.1% | 42.7% | 35.4% | 33.4% | 24.1% | 28.3% | 32.4% | 30.8% | 25.8% | 24.9% | 24.3% | 15.9% | 16.2% | 12.9% | 14.5% | 14.6% | 3.3% |
| EBITDA | $279.11M | $394.15M | $448.71M | $422.37M | $387.33M | $841.13M | $1.10B | $1.44B | $1.72B | $1.96B | $2.14B | $1.72B | $1.92B | $2.14B | $1.53B | $1.71B | $2.04B | $2.40B | $2.78B | $2.31B |
| EBITDA margin | 96.8% | 91.8% | 85.2% | 80.7% | 67.8% | 64.6% | 60.9% | 50.2% | 51.5% | 51.1% | 50.4% | 40.1% | 41.1% | 42.0% | 33.4% | 36.4% | 35.3% | 37.1% | 35.4% | 21.7% |
| EBIT | $178.45M | $235.46M | $270.82M | $242.04M | $170.48M | $403.18M | $547.48M | $560.61M | $865.25M | $1.13B | $1.23B | $784.24M | $950.08M | $1.10B | $482.84M | $660.60M | $702.58M | $957.89M | $1.10B | $171.93M |
| Interest expense | $88.38M | $131.27M | $130.15M | $96.86M | $133.98M | $290.98M | $361.56M | $458.36M | $481.04M | $492.17M | $521.35M | $484.62M | $526.59M | $555.56M | $514.39M | $489.85M | $529.52M | $607.85M | $574.26M | $651.96M |
| Income tax | $82000.00 | $188000.00 | $1.31M | $168000.00 | $364000.00 | $1.39M | $7.61M | $7.49M | $-1.27M | $6.45M | $-19.13M | $20.13M | $8.67M | $2.96M | $9.97M | $8.71M | $7.25M | $6.36M | $2.70M | $-7.12M |
| Effective tax rate | 0.1% | 0.1% | 0.5% | 0.1% | 0.3% | 0.6% | 2.5% | 4.9% | -0.2% | 0.7% | -1.8% | 3.7% | 1.1% | 0.2% | 1.0% | 2.5% | 4.9% | 1.8% | 0.3% | -0.8% |
| Net income | $102.75M | $138.35M | $283.30M | $193.27M | $128.53M | $217.61M | $297.25M | $145.05M | $512.15M | $883.75M | $1.08B | $522.77M | $804.95M | $1.23B | $978.84M | $336.14M | $141.21M | $340.09M | $951.68M | $936.85M |
| Net income growth (YoY) | — | +34.7% | +104.8% | -31.8% | -33.5% | +69.3% | +36.6% | -51.2% | +253.1% | +72.6% | +22.0% | -51.5% | +54.0% | +53.1% | -20.6% | -65.7% | -58.0% | +140.8% | +179.8% | -1.6% |
| Profit margin | 35.6% | 32.2% | 53.8% | 36.9% | 22.5% | 16.7% | 16.5% | 5.0% | 15.4% | 23.0% | 25.4% | 12.2% | 17.2% | 24.2% | 21.3% | 7.1% | 2.4% | 5.2% | 12.1% | 8.8% |