Companies / Real Estate
WELL
Welltower
Health Care REITs
Health Care REITsAnalysis in progress
In progress
We are decoding this company's strategy and relationships
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Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health47
Growth100
Profitability42
Cash generationn/a
Balance sheetn/a
Dilution control0
Key ratios and five-year financials
Latest quarter revenue YoY (2026-09-30)51.4%Revenue growth (FY)40.2%Revenue CAGR (3y)26.5%Gross margin23.2%Operating margin—Net margin11.4%Free cash flow margin34.1%R&D / revenue—Stock comp / revenue18.4%Net debt / operating cash flow4.92xCurrent ratio—Diluted share count change11.6%
| Fiscal year ending | FY 2021-12 | FY 2022-12 | FY 2023-12 | FY 2024-12 | FY 2025-12 |
|---|---|---|---|---|---|
| Revenue | $3.2B | $4.2B | $4.8B | $6.0B | $8.5B |
| Gross profit | $423M | $615M | $806M | $1.2B | $2.0B |
| Net income | $374M | $161M | $358M | $973M | $962M |
| Operating cash flow | $1.3B | $1.3B | $1.6B | $2.3B | $2.9B |
| Free cash flow | $1.3B | $1.3B | $1.6B | $2.3B | $2.9B |
| Stock-based comp | $18M | $26M | $37M | $76M | $1.6B |
| Buybacks | $0 | $0 | — | — | — |
| Dividends | $1.0B | $1.1B | $1.3B | $1.5B | $1.9B |
| Cash | $269M | $632M | $2.0B | $3.5B | $5.0B |
| Total debt | $13.9B | $14.7B | $15.7B | $15.5B | $19.2B |
| Equity | $17.6B | $20.3B | $25.4B | $32.0B | $42.1B |
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