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Welltower Inc. is a S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom and Canada. Our portfolio of 2,000+ seniors and wellness housing communities are positioned at the intersection of housing and hospitality, creating vibrant communities for mature renters and older adults. We believe our real estate portfolio is unmatched, located in highly attractive micro markets with stunning built environments. Yet, we are an unusual real estate organization as we view ourselves as an operating company in a real estate wrapper, driven by highly aligned partnerships and an unconventional culture. Through our disciplined approach to capital allocation powered by our Data Science platform and superior operating results driven by the Welltower Business System - our end-to-end operating platform - we aspire to deliver long-term compounding of per share growth for our existing investors, our North Star. Welltower Inc. was incorporated in 1970 in Delaware, USA.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $10.7B | $2.3B | $937M | $2.8B | 2.2% | 35.8% | -1.6% |
| 2024 | $7.9B | $2.8B | $952M | $2.2B | 3.0% | 21.2% | 179.8% |
| 2023 | $6.5B | $2.4B | $340M | $1.6B | 1.3% | 12.2% | 140.8% |
| 2022 | $5.8B | $2.0B | $141M | $1.3B | 0.7% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 10,667.14 |
| Operating Revenue | 10,667.14 |
| Cost Of Revenue | 6,488.08 |
| Gross Profit | 4,179.06 |
| Operating Expense | 3,823.89 |
| Selling General And Administration | 1,748.44 |
| Total Expenses | 10,311.97 |
| Operating Income | 355.17 |
| EBITDA | 2,310.46 |
| Normalized EBITDA | 2,463.39 |
| EBIT | 171.93 |
| Interest Expense | 651.96 |
| Net Interest Income | -651.96 |
| Other Non Operating Income Expenses | -30.30 |
| Other Income Expense | -183.24 |
| Interest Expense Non Operating | 651.96 |
| Net Non Operating Interest Income Expense | -651.96 |
| Pretax Income | -480.02 |
| Tax Provision | -7.12 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | -1.07 |
| Net Income Continuous Operations | 961.84 |
| Net Income From Continuing And Discontinued Operation | 936.84 |
| Net Income From Continuing Operation Net Minority Interest | 936.84 |
| Net Income | 936.84 |
| Net Income Common Stockholders | 936.84 |
| Net Income Including Noncontrolling Interests | 961.84 |
| Normalized Income | 1,088.71 |
| Diluted NI Availto Com Stockholders | 944.09 |
| Basic Average Shares | 665.64 |
| Diluted Average Shares | 679.52 |
| Reconciled Depreciation | 2,138.53 |
| Reconciled Cost Of Revenue | 6,434.42 |
| Total Unusual Items | -152.94 |
| Total Unusual Items Excluding Goodwill | -152.94 |
| Minority Interests | -24.99 |
| Earnings From Equity Interest Net Of Tax | 1,434.75 |
| Special Income Charges | -130.53 |
| Other Special Charges | 9.24 |
| Write Off | 121.28 |
| Impairment Of Capital Assets | - |
| Gain On Sale Of Security | -22.41 |
| Depreciation Amortization Depletion Income Statement | 2,084.87 |
| Depreciation And Amortization In Income Statement | 2,084.87 |
| General And Administrative Expense | 1,748.44 |
| Other Gand A | 1,748.44 |
| Other Operating Expenses | - |
| Provision For Doubtful Accounts | -9.42 |
| Average Dilution Earnings | 7.25 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Welltower Inc.this co. | WELL | $141.8B | 151.34↑ premium | 3.37 | 2.2% | 68.44 |
| Prologis, Inc. | PLD | $134.7B | 40.48 | 2.54 | 6.3% | 22.98 |
| Equinix, Inc. | EQIX | $107.4B | 79.57 | 7.59 | 9.5% | 31.31 |
| American Tower Corporation | AMT | $90.3B | 35.72 | 24.73 | 69.3% | 20.76 |
| Simon Property Group, Inc. | SPG | $78.4B | 16.93 |
| - |
| - |
| - |
| - |
| 15.16 |
| 89.5% |
| 13.46 |
| Digital Realty Trust, Inc. | DLR | $67.5B | 51.58 | 3.04 | 5.9% | 22.76 |
| Realty Income Corporation | O | $55.7B | 52.63 | 1.41 | 2.7% | 17.68 |
| Public Storage | PSA | $53.8B | 30.17 | 10.99 | 36.4% | 19.64 |
| Crown Castle Inc. | CCI | $40.9B | 92.20 | -25.04 | -27.2% | 25.60 |
| Peer Median | - | 46.03 | 5.31 | 7.9% | 21.76 | |