WELL

MKT CAP:$147B

Welltower Inc.

Market Cap

$147B

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

Real Estate·REIT·🇺🇸·NYSE

Stock Price

$210.63+$23.69 (+12.67%)

Apr 24, 2026

Company Details

Welltower Inc. (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems t...

CEO

Shankh S. Mitra

IPO Date

Mar 19, 1980

Website

www.welltower.com

Key Metrics TTM

Revenue

$7.7B

— YoY

Net Income

$724M

EPS (Diluted)

$1.19

Free Cash Flow

$1.9B

Revenue / Share

$11.82

Gross Margin

39.1%

Operating Margin

15.3%

Net Margin

9.4%

FCF Margin

24.9%

P/S

19.0x

P/E

202.8x

Earnings Reports

Q2 2025

Apr 28, 2026

PENDING

Q1 2025

Apr 29, 2025

$2.4B+30.5%EPS $0.40

Q2 2024

Jul 30, 2024

$1.8BEPS $0.42

Q1 2024

Apr 30, 2024

$1.8BEPS $0.22

FY 2023

Feb 15, 2024

$6.5BEPS $0.66

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$1.0B	$593M	$319M
Q4 16	$1.1B	$576M	$305M
Q1 17	$1.1B	$548M	$289M
Q4 23	$1.7B	$682M	$254M
Q1 24	$1.8B	$734M	$313M
Q2 24	$1.8B	$681M	$239M
Q1 25	$2.4B	$926M	$379M

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q4 16	—	—
Q1 17	—	—
Q4 23	10.5x	55.1x
Q1 24	9.7x	61.6x
Q2 24	9.9x	79.2x
Q1 25	13.0x	139.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	$374M	$371M
Q4 16	$356M	$352M
Q1 17	$386M	$381M
Q4 23	$371M	$356M
Q1 24	$407M	$393M
Q2 24	$605M	$591M
Q1 25	$599M	$587M

Capital Expenditures

Quarter	CapEx
Q1 16	$3M
Q4 16	$5M
Q1 17	$4M
Q4 23	$15M
Q1 24	$14M
Q2 24	$14M
Q1 25	$12M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+75.5%	+109.5%
Q2 24	+67.5%	+102.9%
Q1 25	+125.7%	+161.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$8M	0.8%
Q4 16	$8M	0.8%
Q1 17	$5M	0.5%
Q4 23	$8M	0.5%
Q1 24	$12M	0.7%
Q2 24	$10M	0.6%
Q1 25	$18M	0.7%

OpEx Breakdown

Quarter	G&A
Q1 16	$46M
Q4 16	$33M
Q1 17	$31M
Q4 23	$44M
Q1 24	$53M
Q2 24	$56M
Q1 25	$64M

Revenue Segments

Quarter	Outpatient Medical	Senior housing - operating	Triple Net
Q1 17	$140M	$672M	$250M

Revenue by Geography

Quarter	Canada	United Kingdom	United States
Q1 16	$104M	$101M	$842M
Q1 17	$110M	$94M	$859M
Q4 23	$150M	$151M	$1.4B
Q1 24	$151M	$162M	$1.5B
Q2 24	$131M	$163M	$1.5B
Q1 25	$158M	$376M	$1.9B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$301M	$0	$301M
Q2 22	$363M	$0	$363M
Q3 22	$343M	$0	$343M
Q4 22	$632M	$0	$632M
Q1 23	$572M	$0	$572M
Q2 23	$2.2B	$0	$2.2B
Q3 23	$2.6B	$0	$2.6B
Q4 23	$2.0B	$0	$2.0B
Q1 24	$2.4B	$0	$2.4B
Q2 24	$2.8B	$0	$2.8B
Q3 24	$3.6B	$0	$3.6B
Q4 24	$3.5B	$0	$3.5B
Q1 25	$3.5B	$0	$3.5B
Q2 25	$4.4B	$0	$4.4B
Q3 25	$6.8B	$0	$6.8B
Q4 25	$5.0B	$0	$5.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	356M	—	—
Q4 16	364M	+2.3%	—
Q1 17	365M	+0.1%	—
Q4 23	552M	+51.5%	—
Q1 24	578M	+4.6%	+62.2%
Q2 24	605M	+4.7%	+65.9%
Q1 25	654M	+8.1%	+79.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	$2M	476
Q4 16	$2M	466
Q1 17	$2M	466
Q4 23	$3M	533
Q1 24	$3M	533
Q2 24	$3M	533
Q1 25	$3M	685

Revenue / Employee