Welltower (WELL) financials
Welltower revenue and earnings by year
Welltower's revenue was $10.8 billion in the fiscal year to December 31, 2025, up 35.6% from the year before. Net income was $937 million, 8.6% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 10.9% 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 | 10.8 | 8.0 | 6.6 | 5.9 | 4.7 | 4.6 | 5.1 | 4.7 | 4.3 | 4.3 |
| Revenue growth | 35.6% | 20.4% | 13.3% | 23.6% | 3.0% | -10.1% | 9.0% | 8.9% | 0.8% | — |
| Operating income | 1.6 | 1.6 | 1.0 | 0.7 | 0.7 | 0.5 | 1.2 | 1.0 | 0.8 | 1.2 |
| Operating margin | 15.0% | 19.4% | 15.5% | 12.3% | 15.0% | 11.5% | 23.1% | 20.6% | 19.0% | 29.1% |
| Net income | 0.9 | 1.0 | 0.3 | 0.1 | 0.3 | 1.0 | 1.2 | 0.8 | 0.5 | 1.1 |
| Net margin | 8.6% | 11.9% | 5.1% | 2.4% | 7.1% | 21.3% | 24.1% | 17.1% | 12.1% | 25.2% |
| Diluted EPS | $1.39 | $1.57 | $0.66 | $0.30 | $0.78 | $2.33 | $3.05 | $2.02 | $1.26 | $2.80 |
| Free cash flow | -1.3 | 0.9 | 0.2 | 0.4 | 0.9 | -2.5 | -0.5 | 0.5 | 0.5 | -0.1 |
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 WELL in Markets.
See also: WELL valuation and P/E history · WELL returns
No forecast, no recommendation. This page describes Welltower 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.