Welltower Quarterly Cash Flow Statement
NYSE: WELLReal EstateReal Estate Investment TrustsUSD
At close: Oct 9, 4:01 PM ET · Delayed 15 min
Welltower free cash flow
In the quarter ended Mar 31, 2026, Welltower generated $670.0 million of operating cash flow and spent $269.8 million on capital expenditures. That left free cash flow of $400.2 million, a free-cash-flow margin of 11.9% of revenue. Free cash flow was up 11.6% from the prior year's $358.6 million.
Welltower returned $520.5 million to shareholders through dividends, equal to 130% of free cash flow. Free cash flow covered dividend payments 0.8 times.
Summary generated from market data by MetaCap's automated system. Methodology
Welltower cash flow statement (quarterly)
| Quarter (USD) | Q1 20262026-03-31 | Q4 20252025-12-31 | Q3 20252025-09-30 | Q2 20252025-06-30 | Q1 20252025-03-31 | Q4 20242024-12-31 | Q3 20242024-09-30 | Q2 20242024-06-30 | Q1 20242024-03-31 | Q4 20232023-12-31 | Q3 20232023-09-30 | Q2 20232023-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 752.32M | 117.77M | 282.19M | 304.62M | 257.27M | 123.75M | 456.80M | 260.67M | 131.63M | 88.44M | 134.72M | 106.34M |
| Net Income growth (YoY) | +192.43% | -4.84% | -38.23% | +16.86% | +95.44% | +39.93% | +239.07% | +145.12% | +359.70% | +4818.80% | — | +11.15% |
| Depreciation & Amortization | 622.75M | 594.15M | 509.81M | 495.04M | 485.87M | 480.41M | 403.78M | 382.05M | 365.86M | 380.73M | 339.31M | 341.94M |
| Stock-Based Compensation | 18.83M | 1.51B | 15.59M | 15.26M | 17.50M | 13.51M | 39.91M | 10.35M | 12.05M | 8.42M | 8.82M | 10.50M |
| Change in Working Capital | -248.91M | -157.84M | 41.26M | -28.19M | -136.02M | -84.96M | 62.06M | 52.63M | -71.76M | -95.88M | 20.40M | -2.82M |
| Operating Cash Flow | 670.01M | 654.33M | 858.36M | 770.03M | 598.96M | 559.21M | 684.98M | 605.42M | 406.81M | 370.50M | 439.06M | 416.25M |
| Capital Expenditures | -269.83M | -313.98M | -263.06M | -232.88M | -240.35M | -318.79M | -241.15M | -165.09M | -132.51M | -183.59M | -129.11M | -113.64M |
| Investing Cash Flow | -807.19M | -5.46B | -1.63B | -1.40B | -2.03B | -2.21B | -1.45B | -1.28B | -580.93M | -3.14B | -1.24B | -393.38M |
| Dividends Paid | -520.50M | -509.62M | -496.92M | -439.06M | -432.37M | -418.23M | -408.77M | -366.09M | -352.18M | -338.29M | -318.69M | -303.40M |
| Debt Issued | 19.77M | 2.01B | 994.83M | 1.36B | 0 | 0 | 1.02B | — | — | 0 | 353.00K | 1.01B |
| Debt Repaid | -1.18B | -45.07M | -49.58M | -1.25B | 0 | 0 | 0 | 0 | -1.35B | 0 | 0 | 0 |
| Financing Cash Flow | -199.54M | 3.03B | 3.24B | 1.42B | 1.31B | 1.59B | 1.68B | 1.06B | 578.57M | 2.14B | 1.21B | 1.63B |
| Net Change in Cash | -390.25M | -1.73B | 2.42B | 913.23M | -101.17M | -72.95M | 920.81M | 385.26M | 402.25M | -610.63M | 387.64M | 1.66B |
| Free Cash Flow | 400.18M | 340.35M | 595.30M | 537.15M | 358.61M | 240.42M | 443.83M | 440.33M | 274.30M | 186.91M | 309.94M | 302.61M |
This table shows 12 quarterly periods of Welltower's cash flow statement, from Q1 2026 back to Q2 2023, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow WELL's reporting calendar. What is a cash flow statement?