Welltower Quarterly Income Statement
NYSE: WELLReal EstateReal Estate Investment TrustsUSD
At close: Oct 9, 4:01 PM ET · Delayed 15 min
Welltower revenue and earnings
In the quarter ended Mar 31, 2026, Welltower generated $3.35 billion in revenue, up 38.3% from the same quarter a year earlier. Net income was $752.3 million (+192.4% year over year), for a net margin of 22.4% versus a median of 10.5% in the prior 5 quarters. Gross margin was 38.7% (down from 39.6%).
Diluted earnings per share came in at $1.02, up from $0.40.
Summary generated from market data by MetaCap's automated system. Methodology
Welltower income 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3.35B | 3.18B | 2.69B | 2.55B | 2.42B | 2.25B | 2.06B | 1.82B | 1.86B | 1.75B | 1.66B | 1.67B |
| Revenue growth (YoY) | +38.33% | +41.33% | +30.65% | +39.64% | +30.29% | +28.64% | +23.69% | +9.57% | +19.16% | +15.23% | +12.77% | +13.10% |
| Cost of Revenue | 2.06B | 1.93B | 1.58B | 1.51B | 1.46B | 1.41B | 1.21B | 1.11B | 1.10B | 1.04B | 995.27M | 958.67M |
| Gross Profit | 1.30B | 1.25B | 1.11B | 1.03B | 960.70M | 841.53M | 842.96M | 713.59M | 762.83M | 713.70M | 666.74M | 706.81M |
| Selling, General & Admin | 67.47M | 1.56B | 63.12M | 64.17M | 63.76M | 48.71M | 77.90M | 55.56M | 53.32M | 44.33M | 46.11M | 44.29M |
| Interest Expense | — | — | — | — | — | — | 139.05M | 133.42M | 147.32M | 154.57M | 156.53M | 152.34M |
| Other Income (Expense) | — | — | — | — | — | — | -20.24M | -48.68M | -14.13M | -36.31M | -38.22M | -11.07M |
| Pretax Income | 345.24M | — | 293.11M | 298.21M | 198.71M | 109.24M | 183.87M | 90.43M | 140.90M | 87.46M | 72.23M | 152.34M |
| Income Tax | 11.63M | -4.99M | 2.33M | 1.05M | -5.52M | 114.00K | -4.71M | 1.10M | 6.19M | -4.77M | 4.58M | 3.50M |
| 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% |
| EPS (Basic) | 1.04 | 0.13 | 0.42 | 0.46 | 0.40 | 0.20 | 0.74 | 0.42 | 0.22 | 0.16 | 0.24 | 0.21 |
| EPS (Diluted) | 1.02 | 0.13 | 0.41 | 0.45 | 0.40 | 0.20 | 0.73 | 0.42 | 0.22 | 0.17 | 0.24 | 0.20 |
| Shares Outstanding (Basic) | 699.84M | — | 672.41M | 656.59M | 643.39M | — | 611.29M | 600.54M | 574.05M | — | 521.85M | 499.02M |
| Shares Outstanding (Diluted) | 726.25M | — | 685.40M | 668.14M | 653.79M | — | 618.31M | 604.56M | 577.53M | — | 525.14M | 501.97M |
| Gross Margin | 38.68% | 39.20% | 41.28% | 40.56% | 39.65% | 37.39% | 41.01% | 39.10% | 41.02% | 40.79% | 40.12% | 42.44% |
| Net Margin | 22.44% | 3.70% | 10.51% | 11.95% | 10.62% | 5.50% | 22.22% | 14.28% | 7.08% | 5.05% | 8.11% | 6.39% |
This table shows 12 quarterly periods of Welltower's income statement, from Q1 2026 back to Q2 2023, 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?