Ventas (VTR) financials
Ventas revenue and earnings by year
Ventas's revenue was $5.83 billion in the fiscal year to December 31, 2025, up 18.5% from the year before. Net income was $251 million, 4.3% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 6.0% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5.83 | 4.92 | 4.50 | 4.13 | 3.83 | 3.80 | 3.87 | 3.75 | 3.57 | 3.44 |
| Revenue growth | 18.5% | 9.5% | 8.9% | 7.9% | 0.9% | -2.0% | 3.4% | 4.8% | 3.8% | — |
| Operating income | 0.82 | 0.60 | 0.45 | 0.37 | 0.34 | 0.56 | 0.85 | 0.89 | 1.03 | 0.94 |
| Operating margin | 14.0% | 12.1% | 10.1% | 9.1% | 8.8% | 14.8% | 22.0% | 23.6% | 28.9% | 27.3% |
| Net income | 0.25 | 0.08 | -0.04 | -0.05 | 0.05 | 0.44 | 0.43 | 0.41 | 1.36 | 0.65 |
| Net margin | 4.3% | 1.6% | -0.9% | -1.1% | 1.3% | 11.6% | 11.2% | 10.9% | 38.0% | 18.9% |
| Diluted EPS | $0.54 | $0.19 | -$0.10 | -$0.12 | $0.13 | $1.16 | $1.19 | $1.13 | $3.77 | $1.86 |
| Free cash flow | -1.08 | -0.87 | 0.87 | 0.33 | 0.06 | 1.01 | 0.07 | 1.01 | 1.19 | -0.02 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open VTR in Markets.
How Ventas makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Senior Housing Operating Portfolio SHOP | $1.45B | 80.0% |
| Outpatient Medical & Research Portfolio | $234M | 12.9% |
| Triple Net Leased Properties | $129M | 7.1% |
See also: VTR valuation and P/E history · VTR returns
No forecast, no recommendation. This page describes Ventas from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.