WELL (Welltower Inc.) Stock Financials & Earnings | Market Cap Arena

WELL (Welltower Inc.) Stock Financials & Earnings | Market Cap Arena

WELLWelltower Inc.

Mkt Cap$146B

WELLWelltower Inc.

$146B

Company Info & Key Metrics

Real Estate REIT - Healthcare Facilities

Country🇺🇸 United States

ExchangeNYSE

Revenue$3.1B

YoY Growth+41.2%

QoQ Growth+19.3%

Net Income$96M

EPS$0.14

Free Cash Flow$647M

Gross Margin38.3%

Op. Margin-30.1%

Net Margin3.1%

FCF Margin20.6%

Rev Multiple (TTM)13.7x

P/E Ratio (TTM)155.6x

Revenue & Profitability

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

Valuation

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

Operating 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

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

OpEx vs Revenue Growth (YoY)

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%

Stock-Based Compensation

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%

OpEx Breakdown

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

Revenue Segments

Quarter

Revenue by Geography

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

War Chest

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

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%

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