FirmAtlas
Company handbook · WELL · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
WELL · CIK 766704 · LATEST FILING: 10-Q JUN '26 · FILED JUL 28, 2026
WELLTOWER INC.
$234.85
+0.22 (+0.09%)
Close, Oct 16, 2026 · 52-week $172–255
Last fiscal year
WELLTOWER INC. reported revenue of $8.5B for the year ended Dec 31, 2025 (FY25), up 40.2% from FY24. Net income was $937M, operating cash flow $2.9B and free cash flow $1.8B. Source: 10-K filed Feb 12, 2026.
Market cap
$163.6B
P/E
116.2
P/B
3.7
Div yield
1.31%
Revenue 1Y
40.2%/yr
EPS 1Y
−11.5%/yr
Shares 1Y
+10%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOShankh Mitra
HQToledo, OH
AuditorErnst & Young LLP
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
13.0%
22.8%
40.0%
36.5%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$5.3B deployed
Capex
$1.9B
35.8%
Dividends
$3.4B
64.2%
Operating cash flow over the period: $5.1B. Total debt changed by +$3.7B.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Balance sheet
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,256
2,882+27.7%
2,953
Net income
973
962−1.1%
—
Depreciation & amortization
1,632
2,085+27.7%
—
Stock-based compensation
76
1,557+1953.2%
—
Working capital & other
(424)
(1,722)n/m
—
Cash from investing
(5,515)
(10,513)n/m
—
Capex
(858)
(1,050)n/m
—
PP&E sold
337
5,658+1581.4%
—
Other investing
(4,994)
(15,121)n/m
—
Cash from financing
4,905
9,000+83.5%
—
Debt raised
1,015
4,361+329.6%
—
Debt repaid
(1,350)
(1,345)n/m
—
Dividends
(1,546)
(1,877)n/m
—
Shares issued
1
3+109.5%
—
Other financing
6,785
7,858+15.8%
—
Net change in cash
1,635
1,498−8.4%
—
Free cash flow (OCF − capex)
1,399
1,831+30.9%
1,873
Where the cash went
Operating cash flow
2,256
2,882+27.7%
2,953
Reinvested in the business
858
1,050+22.5%
—
% of operating cash flow
38.0%
36.4%
Capex
858
1,050+22.5%
1,080
Free cash flow
1,399
1,831+30.9%
1,873
YoY
+30.9%
Returned to shareholders
1,546
1,877+21.4%
—
% of free cash flow
110.5%
102.5%
Dividends
1,546
1,877+21.4%
—
Change in total debt
—
3,697
—
Cash left over
—
3,651
—
FCF conversion (FCF ÷ net income)
147.0%
195.5%+48.5 pp
—
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
1,971
2,061
2,556
2,781
vs year-ago quarter
Gross profit
456
484
622
726
Gross margin
23.2%
23.5%
24.3%
26.1%
Net income
302
281
96
729
vs year-ago quarter
Net margin
15.3%
13.6%
3.8%
26.2%
EPS (diluted, $)
0.45
0.41
0.14
1.02
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
55,833
59,505
67,303
67,221
Cash & equivalents
4,524
6,941
5,210
4,819
Total debt
15,971
16,852
19,197
17,934
Shareholders’ equity
35,901
38,757
42,129
43,794
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
770
858
654
670
Capex
233
263
314
270
Free cash flow
537
595
340
400
vs year-ago quarter