VTR (Ventas, Inc.) Stock Financials & Earnings | Market Cap Arena

VTR (Ventas, Inc.) Stock Financials & Earnings | Market Cap Arena

VTRVentas, Inc.

Mkt Cap$41B

Real Estate·REIT - Healthcare Facilities·🇺🇸 United States·NYSE

Revenue (TTM)$5.8B

Net Income (TTM)$251M

EPS (TTM)$0.55

Free Cash Flow (TTM)$1.3B

Gross Margin-5.9%

Op. Margin14.2%

Net Margin4.3%

FCF Margin22.6%

P/S Ratio (TTM)7.1x

P/E Ratio (TTM)164.4x

YoY Rev Growth+18.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$1.1B	$468M	$149M
Q2 23	$1.1B	$482M	$155M
Q3 23	$1.1B	$492M	$88M
Q4 23	$1.2B	$495M	$23M
Q1 24	$1.2B	$511M	$162M
Q2 24	$1.2B	$519M	$142M
Q3 24	$1.2B	$521M	$182M
Q4 24	$1.3B	$546M	$196M
Q1 25	$1.4B	$572M	$198M
Q2 25	$1.4B	$594M	$203M
Q3 25	$1.5B	$619M	$222M
Q4 25	$1.6B	-$2.1B	$204M

Valuation

Quarter	P/S	P/E
Q1 23	9.9x	—
Q2 23	9.7x	535.3x
Q3 23	9.4x	8561.6x
Q4 23	9.2x	—
Q1 24	8.9x	—
Q2 24	8.8x	—
Q3 24	8.6x	—
Q4 24	8.4x	509.2x
Q1 25	8.1x	290.4x
Q2 25	7.8x	216.1x
Q3 25	7.4x	173.6x
Q4 25	7.1x	164.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$243M	$199M
Q2 23	$312M	$259M
Q3 23	$361M	$297M
Q4 23	$279M	$180M
Q1 24	$266M	$217M
Q2 24	$336M	$263M
Q3 24	$356M	$284M
Q4 24	$379M	$292M
Q1 25	$321M	$262M
Q2 25	$475M	$400M
Q3 25	$379M	$286M
Q4 25	$505M	$368M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$44M
Q2 23	$53M
Q3 23	$64M
Q4 23	$99M
Q1 24	$49M
Q2 24	$73M
Q3 24	$72M
Q4 24	$88M
Q1 25	$59M
Q2 25	$75M
Q3 25	$92M
Q4 25	$138M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+5.9%	+6.0%
Q2 23	+8.2%	+6.7%
Q3 23	+10.9%	+16.9%
Q4 23	+10.7%	+17.7%
Q1 24	+11.4%	+11.8%
Q2 24	+8.6%	+11.4%
Q3 24	+7.5%	-0.7%
Q4 24	+10.5%	-4.4%
Q1 25	+13.2%	+11.8%
Q2 25	+18.3%	+14.9%
Q3 25	+20.4%	+20.2%
Q4 25	+21.7%	+24.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q1 23	—	$45M
Q2 23	—	$34M
Q3 23	—	$33M
Q4 23	—	$36M
Q1 24	—	$49M
Q2 24	—	$38M
Q3 24	—	$35M
Q4 24	$41M	—
Q1 25	$53M	—
Q2 25	—	$43M
Q3 25	$40M	—
Q4 25	$41M	—

Revenue Segments

Quarter	Medical Office Building Operations	Senior Living Operations	Triple Net Leased Properties	Outpatient Medical And Research Portfolio
Q1 23	$204M	$705M	$150M	—
Q2 23	$216M	$725M	$154M	—
Q3 23	$227M	$754M	$160M	—
Q4 23	$223M	$775M	$155M	—
Q1 24	$220M	$813M	$155M	—
Q2 24	$220M	$818M	$154M	—
Q3 24	$222M	$846M	$155M	—
Q4 24	$217M	$896M	$157M	—
Q1 25	$222M	$969M	$156M	—
Q2 25	—	$1.0B	$153M	$221M
Q3 25	—	$1.1B	$160M	$227M

Revenue by Geography

Quarter	Canada	United Kingdom	United States
Q1 23	$112M	$7M	$958M
Q2 23	$115M	$7M	$984M
Q3 23	$117M	$7M	$1.0B
Q4 23	$120M	$7M	$1.0B
Q1 24	$129M	$8M	$1.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$145M	$0	$145M
Q2 23	$139M	$0	$139M
Q3 23	$434M	$0	$434M
Q4 23	$509M	$0	$509M
Q1 24	$632M	$0	$632M
Q2 24	$557M	$0	$557M
Q3 24	$1.1B	$0	$1.1B
Q4 24	$898M	$0	$898M
Q1 25	$182M	$0	$182M
Q2 25	$614M	$0	$614M
Q3 25	$189M	$0	$189M
Q4 25	$741M	$0	$741M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	404M	+1.0%
Q2 23	404M	+0.1%
Q3 23	403M	-0.3%
Q4 23	407M	+1.0%
Q1 24	407M	+0.1%
Q2 24	412M	+1.1%
Q3 24	419M	+1.9%
Q4 24	428M	+1.9%
Q1 25	446M	+4.4%
Q2 25	459M	+2.8%
Q3 25	463M	+0.9%
Q4 25	481M	+3.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$6M	479
FY 15	$7M	466
FY 16	$7M	493
FY 17	$7M	493
FY 18	$7M	500
FY 19	$8M	516
FY 20	$8M	448
FY 21	$9M	434
FY 22	$9M	451
FY 23	$9M	486
FY 24	$10M	498
FY 25	$11M	542