Welltower Financial Statements
NYSE: WELLReal EstateReal Estate Investment TrustsUSD
At close: Oct 9, 4:01 PM ET · Delayed 15 min
After hours: 225.47 +0.01%
Welltower revenue and earnings
In fiscal 2025, Welltower generated $10.84 billion in revenue, up 35.6% from fiscal 2024, its 5th consecutive year of revenue growth. Net income was $961.8 million (-1.1% year over year), for a net margin of 8.9% versus a median of 7.9% in the prior 5 years. Gross margin was 40.1% (up from 39.6%).
Diluted earnings per share came in at $1.39, down from $1.57. Over the last 5 fiscal years, WELL's revenue has grown at a 18.7% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Welltower income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 10.84B | 7.99B | 6.64B | 5.86B | 4.74B | 4.61B | 5.12B | 4.70B | 4.32B | 4.28B |
| Revenue growth (YoY) | +35.63% | +20.38% | +13.26% | +23.59% | +2.96% | -10.06% | +8.95% | +8.89% | +0.83% | +10.92% |
| Cost of Revenue | 6.49B | 4.83B | 3.95B | 3.56B | 2.77B | 2.60B | 2.69B | 2.43B | 2.08B | — |
| Gross Profit | 4.35B | 3.16B | 2.69B | 2.30B | 1.97B | 2.01B | 2.43B | 2.27B | 2.23B | — |
| Operating Expenses | — | — | — | — | — | — | — | 4.28B | 4.02B | 3.57B |
| Selling, General & Admin | 1.75B | 235.49M | 179.09M | 150.39M | 126.73M | 128.39M | 126.55M | 126.38M | 122.01M | 155.24M |
| Interest Expense | — | — | 607.85M | 529.52M | 489.85M | 514.39M | 555.56M | 526.59M | 484.62M | 521.35M |
| Other Income (Expense) | — | — | -108.34M | -101.67M | -41.74M | -70.33M | -52.61M | -112.90M | — | — |
| Pretax Income | — | 524.44M | 350.05M | 173.06M | 170.75M | -31.55M | 542.89M | 423.49M | 299.62M | 709.25M |
| Income Tax | -7.12M | 2.70M | 6.36M | 7.25M | 8.71M | 9.97M | 2.96M | 8.67M | 20.13M | -19.13M |
| Net Income | 961.84M | 972.86M | 358.14M | 160.57M | 374.48M | 1.04B | 1.33B | 829.75M | 540.61M | 1.08B |
| Net Income growth (YoY) | -1.13% | +171.64% | +123.05% | -57.12% | -63.95% | -21.91% | +60.34% | +53.48% | -50.04% | +21.78% |
| EPS (Basic) | 1.41 | 1.58 | 0.66 | 0.31 | 0.79 | 2.36 | 3.07 | 2.03 | 1.26 | 2.83 |
| EPS (Diluted) | 1.39 | 1.57 | 0.66 | 0.30 | 0.78 | 2.33 | 3.05 | 2.02 | 1.26 | 2.81 |
| Shares Outstanding (Basic) | 665.64M | 602.98M | 515.63M | 462.19M | 424.98M | 415.45M | 401.85M | 373.62M | 367.24M | 358.27M |
| Shares Outstanding (Diluted) | 679.52M | 608.75M | 518.70M | 465.16M | 426.84M | 417.39M | 403.81M | 375.25M | 369.00M | 360.23M |
| Gross Margin | 40.14% | 39.56% | 40.53% | 39.28% | 41.49% | 43.60% | 47.47% | 48.24% | 51.72% | — |
| Net Margin | 8.87% | 12.17% | 5.40% | 2.74% | 7.90% | 22.55% | 25.98% | 17.65% | 12.52% | 25.28% |
This table shows 10 annual periods of Welltower's income statement, from FY 2025 back to FY 2016, across 16 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow WELL's reporting calendar. What is a income statement?