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WELL (Welltower Inc.) Stock Financials & Earnings | Market Cap Arena
2025 Q4
WELL
Welltower Inc.
Mkt Cap
$146B
WELL
Welltower Inc.
$146B
2025 Q4
Company Info & Key Metrics
Real Estate
REIT - Healthcare Facilities
Country
🇺🇸 United States
Exchange
NYSE
Revenue
$3.1B
YoY Growth
+41.2%
QoQ Growth
+19.3%
Net Income
$96M
EPS
$0.14
Free Cash Flow
$647M
Gross Margin
38.3%
Op. Margin
-30.1%
Net Margin
3.1%
FCF Margin
20.6%
Rev Multiple (TTM)
13.7x
P/E Ratio (TTM)
155.6x
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$1.6B
$594M
$210M
Q2 23
$1.6B
$623M
$234M
Q3 23
$1.6B
$631M
$242M
Q4 23
$1.7B
$682M
$254M
Q1 24
$1.8B
$734M
$313M
Q2 24
$1.8B
$681M
$239M
Q3 24
$2.0B
$798M
$312M
Q4 24
$2.2B
$810M
$281M
Q1 25
$2.4B
$926M
$379M
Q2 25
$2.5B
$1.0B
$443M
Q3 25
$2.6B
$1.1B
$477M
Q4 25
$3.1B
$1.2B
-$944M
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
24.5x
1388.4x
Q2 23
23.8x
1232.7x
Q3 23
23.2x
577.3x
Q4 23
22.5x
428.5x
Q1 24
21.6x
330.0x
Q2 24
20.9x
245.7x
Q3 24
19.8x
159.2x
Q4 24
18.6x
153.1x
Q1 25
17.3x
134.6x
Q2 25
16.0x
129.0x
Q3 25
14.9x
151.7x
Q4 25
13.7x
155.6x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$376M
$366M
Q2 23
$416M
$404M
Q3 23
$439M
$425M
Q4 23
$371M
$356M
Q1 24
$407M
$393M
Q2 24
$605M
$591M
Q3 24
$685M
$669M
Q4 24
$559M
$545M
Q1 25
$599M
$587M
Q2 25
$770M
$761M
Q3 25
$858M
$852M
Q4 25
$654M
$647M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$10M
Q2 23
$12M
Q3 23
$14M
Q4 23
$15M
Q1 24
$14M
Q2 24
$14M
Q3 24
$16M
Q4 24
$14M
Q1 25
$12M
Q2 25
$9M
Q3 25
$6M
Q4 25
$7M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+11.7%
+12.3%
Q2 23
+12.3%
+12.2%
Q3 23
+10.8%
+6.4%
Q4 23
+13.8%
+9.8%
Q1 24
+17.9%
+13.0%
Q2 24
+13.3%
+15.3%
Q3 24
+23.6%
+22.7%
Q4 24
+29.2%
+32.4%
Q1 25
+30.5%
+32.5%
Q2 25
+40.4%
+33.4%
Q3 25
+30.7%
+26.6%
Q4 25
+41.2%
+110.4%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$9M
0.6%
Q2 23
$11M
0.7%
Q3 23
$9M
0.5%
Q4 23
$8M
0.5%
Q1 24
$12M
0.7%
Q2 24
$10M
0.6%
Q3 24
$40M
2.0%
Q4 24
$13M
0.6%
Q1 25
$18M
0.7%
Q2 25
$15M
0.6%
Q3 25
$16M
0.6%
Q4 25
$1.5B
48.1%
marketcaparena.com
OpEx Breakdown
G&A
Quarter
G&A
Q1 23
$44M
Q2 23
$44M
Q3 23
$46M
Q4 23
$44M
Q1 24
$53M
Q2 24
$56M
Q3 24
$78M
Q4 24
$49M
Q1 25
$64M
Q2 25
$64M
Q3 25
$63M
Q4 25
$1.6B
marketcaparena.com
Revenue Segments
Quarter
marketcaparena.com
Revenue by Geography
Canada
United Kingdom
United States
Quarter
Canada
United Kingdom
United States
Q1 23
$117M
$148M
$1.3B
Q3 23
$124M
$154M
$1.4B
Q4 23
$150M
$151M
$1.4B
Q1 24
$151M
$162M
$1.5B
Q2 24
$131M
$163M
$1.5B
Q3 24
$135M
$174M
$1.7B
Q4 24
$136M
$373M
$1.7B
Q1 25
$158M
$376M
$1.9B
Q2 25
$187M
$417M
$1.9B
Q3 25
$193M
$448M
$2.0B
Q4 25
$196M
$926M
$2.1B
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
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
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
494M
+2.3%
Q2 23
502M
+1.5%
Q3 23
525M
+4.6%
Q4 23
552M
+5.2%
Q1 24
578M
+4.6%
Q2 24
605M
+4.7%
Q3 24
618M
+2.3%
Q4 24
634M
+2.6%
Q1 25
654M
+3.1%
Q2 25
668M
+2.2%
Q3 25
685M
+2.6%
Q4 25
710M
+3.6%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$8M
438
FY 15
$8M
476
FY 16
$9M
466
FY 17
$11M
392
FY 18
$12M
384
FY 19
$12M
443
FY 20
$11M
423
FY 21
$10M
464
FY 22
$11M
514
FY 23
$12M
533
FY 24
$11M
685
FY 25
$15M
712
marketcaparena.com