WELL
NYSE · USDWelltower Inc.
Real Estate · REIT - Healthcare Facilities
CEO Shankh S. Mitra
Employees 712
R&D / revenue 0.0%
Last price
$234.85+0.09%last session
Market cap
$169.2B
P/E (TTM)
121.7x
From 52w high
−8.0%
From 52w low
+36.1%
1-year return
+37.1%
RSI 14 · vs SMA200
57.2 · +8.8%
IS score
66.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)
One year, rebased to 100
WELL SPY XLRE (sector ETF) · weekly closesScore DNA
Each bar is a 0-100 score within the scored universe32Profitability
71Growth
42Value
96Momentum
100Risk (safety)
70Quality
44Balance sheet
94Earnings quality
Flags
Strengths
✓ Insider buying✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 6 / 9Altman Z 4.5Beta 0.764 of 4 smart-money sources active
Smart-money strip
Each disclosure source on its own window. Filings coinciding is not coordination.INSForm 4 · 180 days
Insider open-market buys
4
$2.41M bought
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
2
Last disclosed purchase 2026-03-30
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+108
206 new holders, 81 closed
1,600 filers hold 101.9% · 670 added, 485 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+350
1,416 funds adding shares
1,066 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
61.7%
20-day avg 58.5%, 50-day avg 59.8%
Latest 3.2 pp over its 20-day average · a flow, not short interest
Key financials · FY2025
USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.Income statement
Revenue$10.7B
Revenue growth YoY+35.8%
Gross margin39.2%
Operating income$355.2M
Operating margin3.3%
Net income$936.8M
Net margin8.8%
EPS (diluted)$1.39
Cash flow
Operating cash flow$2.9B
Capital expenditure$33.8M
Free cash flow$2.8B
FCF conversion (FCF / OCF)98.8%
Stock-based compensation$1.6B
FCF less SBC$1.3B
Buybacks$0
Dividends$1.9B
Balance sheet & returns
Cash & short-term investments$5.0B
Total debt$19.2B
Net debt$14.2B
Shareholders' equity$43.2B
Goodwill & intangibles$0
Debt / equity0.42
ROE (TTM)3.1%
ROIC (TTM)1.0%
Operating margin by fiscal year
Revenue $4.7B (FY2021) to $10.7B (FY2025), a 22.7% CAGR.
Valuation
P/E (TTM)121.7x
EV / EBITDA62.0x
Price / sales13.42x
Price / FCF63.6x
FCF yield1.57%
Buyback yield0.00%
SBC / revenue12.4%
Price / book3.57x
Forward P/E FY202682.2x
Forward P/E FY202772.3x
Forward P/E FY202859.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $259.92 across 12 analysts last quarter is theirs, not ours.
WELL vs industry median
33 companies in REIT - Healthcare Facilities
WELL (TTM)Industry median
Asset turnover 0.18 vs industry 0.13 · financial leverage 1.51
Earnings delivery
Next report 2026-10-26 · consensus EPS $0.6592%
beat rate, 11 of 12 quarters
+5.0%
median EPS surprise
11
longest beat streak
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-30 to 2026-07-27. Bars cap at ±60%.
Peers
Market-cap band, not the industry cohort above| Company | Mkt cap | P/E | ROE | Net margin | Rev growth | 12m return |
|---|---|---|---|---|---|---|
| WELL Welltower Inc. | $169.2B | 121.7x | 3.1% | 10.7% | +35.8% | +37.1% |
| VTR Ventas, Inc. | $44.0B | 156.1x | 2.0% | 4.3% | +21.5% | +23.4% |
| PLD Prologis, Inc. | $119.5B | 27.7x | 7.9% | 43.8% | +7.3% | +4.6% |
| EQIX Equinix, Inc. | $97.3B | 63.2x | 10.8% | 18.2% | +9.9% | +22.0% |
| AMT American Tower Corporation | $86.3B | 25.4x | 90.9% | 31.6% | +6.7% | −3.2% |
| SPG Simon Property Group, Inc. | $66.5B | 14.5x | 133.8% | 27.0% | +15.0% | — |
| DLR Digital Realty Trust, Inc. | $65.3B | 81.1x | 3.2% | 23.6% | +18.7% | — |
| PSA Public Storage | $55.7B | 28.4x | 22.0% | 40.6% | +3.0% | — |
12-month window: SPY +15.9%, sector ETF XLRE +0.9%. Past returns describe history only.
Recent 8-K filings
2026-07-28Other Events; Exhibits
2026-07-27Earnings Release; Exhibits
2026-06-01Regulation FD; Exhibits
2026-05-22Shareholder Vote
2026-04-29Other Events; Exhibits
2026-04-28Earnings Release; Exhibits
Context
Shares outstanding720,572,011
Free float99.9%
Institutional ownership101.9%
Beta0.76
Dividend yield1.31%
Last dividend$0.85 on 2026-08-12
50 / 200-day average$233.46 / $215.86
Large-cap Real Estate median P/E26.2x
Full factsheet
The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).
Read it in the browser Download (PDF)All fundamentals · 140 measures in 13 categories
Percentile = where WELL sits among 17 scored companies in REIT - Healthcare Facilities (0 = lowest value, 100 = highest). It is a position, not a grade.ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)
Valuation
| Measure | WELL | Industry percentile |
|---|---|---|
| P/E (TTM) | 125.7x | 92nd |
| PEG (P/E ÷ 3-yr EPS CAGR) | 1.28 | 57th |
| Price / sales | 13.4x | 94th |
| Price / book | 3.6x | 94th |
| Price / tangible book | 3.8x | 93rd |
| Price / free cash flow | 63.6x | 100th |
| Price / operating cash flow | 50.0x | 100th |
| Enterprise value | $187.0B | 100th |
| EV / sales | 14.8x | 88th |
| EV / EBITDA | 62.0x | 100th |
| EV / EBIT | 362.3x | 100th |
| EV / free cash flow | 70.2x | 73rd |
| Earnings yield | 0.8% | 31st |
| FCF yield | 1.6% | 31st |
| Operating cash flow yield | 2.0% | 19th |
| Graham number (per share) | $51.21 | 92nd |
Profitability (TTM)
| Measure | WELL | Industry percentile |
|---|---|---|
| Gross margin | 38.8% | 50th |
| EBITDA margin | 23.9% | 29th |
| Operating margin | 5.4% | 19th |
| EBIT margin | 4.1% | 20th |
| Net margin | 10.7% | 56th |
| NOPAT margin | 5.1% | 20th |
| FCF margin | 21.1% | 56th |
| Operating cash flow margin | 26.8% | 31st |
| R&D / revenue | 0.0% | 0th |
| SG&A / revenue | 13.9% | 87th |
| Stock comp / revenue | 12.4% | 100th |
| Effective tax rate | 4.8% | 73rd |
Returns on capital
| Measure | WELL | Industry percentile |
|---|---|---|
| ROE (on average equity) | 3.3% | 50th |
| ROA | 2.1% | 56th |
| ROIC | 1.0% | 19th |
| ROCE | 0.8% | 19th |
| Return on tangible assets | 0.8% | 19th |
| Cash ROIC (OCF / invested capital) | 5.3% | 38th |
| Gross profitability (GP / assets) | 7.0% | 62nd |
| ROIC, 3-yr average | 1.5% | 50th |
| ROIC, 5-yr average | 1.3% | 46th |
| ROE, 5-yr average | 2.2% | 54th |
| Incremental ROIC | -3.3% | 50th |
Growth
| Measure | WELL | Industry percentile |
|---|---|---|
| Revenue growth (TTM YoY) | 38.1% | 79th |
| Revenue growth (QoQ) | 7.2% | 94th |
| Revenue CAGR, 3 yr | 27.3% | 92nd |
| Revenue CAGR, 5 yr | 23.8% | 92nd |
| Gross profit CAGR, 3 yr | 27.8% | 89th |
| Operating income CAGR, 3 yr | -4.8% | 20th |
| Net income growth (TTM YoY) | 19.1% | 38th |
| Net income CAGR, 3 yr | 125.0% | 100th |
| EPS growth (TTM YoY) | 8.7% | 25th |
| EPS CAGR, 3 yr | 98.4% | 100th |
| EPS CAGR, 5 yr | 5.6% | 50th |
| FCF growth (TTM YoY) | 3.0% | 40th |
| FCF CAGR, 3 yr | 25.1% | 78th |
| Operating cash flow CAGR, 3 yr | 34.1% | 90th |
| Book value CAGR, 3 yr | 14.5% | 92nd |
| Dividend CAGR, 3 yr | -6.1% | 15th |
| Sustainable growth rate | -1.7% | 58th |
Margin history & stability
| Measure | WELL | Industry percentile |
|---|---|---|
| Gross margin, 3-yr average | 38.9% | 36th |
| Operating margin, 3-yr average | 12.0% | 36th |
| Net margin, 3-yr average | 10.5% | 57th |
| FCF margin, 3-yr average | 24.3% | 43rd |
| Revenue stability (0-1) | 0.89 | 64th |
| Earnings stability (0-1) | 0.57 | 71st |
| Margin stability (0-1) | 0.96 | 100th |
Liquidity (latest quarter)
| Measure | WELL | Industry percentile |
|---|---|---|
| Cash & short-term investments | $2.0B | 100th |
| Net cash (− = net debt) | −$17.8B | 0th |
| Working capital | −$393.6M | 19th |
| Current ratio | 0.84 | 55th |
| Quick ratio | 0.84 | 55th |
| Cash ratio (cash + ST investments / current liabilities) | 0.79 | 67th |
| Defensive interval (days) | 170 days | 0th |
Leverage & solvency (latest quarter)
| Measure | WELL | Industry percentile |
|---|---|---|
| Total debt | $19.7B | 100th |
| Debt / equity | 0.42 | 12th |
| Net debt / equity | 0.38 | 12th |
| Debt / assets | 28.2% | 12th |
| Debt / capital | 29.8% | 12th |
| Debt / EBITDA | 6.54 | 69th |
| Net debt / EBITDA | 5.89 | 56th |
| Interest coverage (EBIT / interest) | 0.7x | 19th |
| Cash interest coverage | 4.6x | 81st |
| Debt payback (years of OCF) | 5.8 yrs | 38th |
| Liabilities / assets | 32.1% | 6th |
| IS credit model rating | BBB+ | |
| Implied credit spread (bps) | 225 | 12th |
Efficiency
| Measure | WELL | Industry percentile |
|---|---|---|
| Asset turnover | 0.20 | 62nd |
| Fixed asset turnover | 0.21 | 25th |
| Inventory turnover | — | |
| Receivables turnover | 12.8 | 43rd |
| Days sales outstanding | 28 days | 62nd |
| Days inventory outstanding | — | |
| Days payables outstanding | 0 days | 0th |
| Cash conversion cycle (days) | 28 days | 75th |
| Capex / revenue | 5.7% | 73rd |
| Capex / depreciation | 0.29 | 47th |
| Operating expense ratio | 22.7% | 25th |
Cash flow & earnings quality
| Measure | WELL | Industry percentile |
|---|---|---|
| Operating cash flow / net income | 2.51 | 58th |
| FCF / net income | 1.98 | 58th |
| FCF / operating cash flow | 78.7% | 42nd |
| Capex / operating cash flow | 21.3% | 58th |
| Accruals ratio | -3.2% | 62nd |
| Sloan accruals ratio | -14.6% | 12th |
| Earnings quality score (0-1) | 1.00 | 33rd |
Scores & forensic checks
| Measure | WELL | Industry percentile |
|---|---|---|
| IS score | 66 | 88th |
| IS profitability | 32 | 38th |
| IS growth | 71 | 79th |
| IS value | 42 | 12th |
| IS momentum | 96 | 86th |
| IS risk (safety) | 100 | 94th |
| IS quality | 70 | 69th |
| IS balance sheet | 44 | 56th |
| IS earnings quality | 94 | 94th |
| IS cash flow | 65 | 50th |
| Piotroski F-score (0-9) | 6 | 50th |
| Altman Z-score | 4.5 | 100th |
| Beneish M-score | −3.41 | 31st |
| Ohlson O-score | −9.82 | 6th |
| IS credit score | 63 | 81st |
Size (TTM)
| Measure | WELL | Industry percentile |
|---|---|---|
| Market cap | $169.2B | 100th |
| Revenue | $12.6B | 100th |
| EBITDA | $3.0B | 100th |
| Net income | $1.3B | 100th |
| Free cash flow | $2.7B | 100th |
| Total assets | $69.9B | 100th |
| Shareholders' equity | $46.4B | 100th |
| Employees | 712 | 100th |
Insider transactions, last 6 months
Form 4 · most recent 12| Date | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| 2026-09-29 | Mchugh Timothy Co-President and CFO |
Gift | 2,150 | — | — | 884,647 |
| 2026-08-26 | Gundlach Andrew Director |
Open-market buy | 2,500 | $242.06 | $605,150 | 27,500 |
| 2026-08-26 | Gundlach Andrew Director |
Open-market buy | 2,500 | $242.06 | $605,150 | 30,000 |
| 2026-08-25 | Gundlach Andrew Director |
Open-market buy | 2,500 | $239.47 | $598,675 | 22,500 |
| 2026-08-25 | Gundlach Andrew Director |
Open-market buy | 2,500 | $239.47 | $598,675 | 25,000 |
| 2026-08-20 | Lopez Dennis G Director |
Award / grant | 73 | $237.40 | $17,330 | 18,598 |
| 2026-06-26 | Mitra Shankh Director, CEO |
Gift | 3,852 | — | — | 72,642 |
| 2026-05-31 | Mitra Shankh Director, CEO |
Award / grant | 17 | $173.32 | $2,946 | 76,494 |
| 2026-05-29 | Mchugh Timothy Co-President and CFO |
Award / grant | 11 | $173.32 | $1,907 | 23,409 |
| 2026-05-27 | Mitra Shankh Director, CEO |
Gift | 162 | — | — | 76,477 |
| 2026-05-21 | Lopez Dennis G Director |
Award / grant | 63 | $216.01 | $13,609 | 18,525 |
| 2026-05-01 | Bacon Kenneth J Director |
Conversion | 2,627 | — | — | 14,306 |
Shares acquired vs disposed, by month
acquired disposed · all Form 4 typesBy transaction type, 6 months
| Type | Direction | Filings | Shares | Value |
|---|---|---|---|---|
| Award / grant | Acquired | 4 | 164 | $35,792 |
| Conversion | Disposed | 1 | 2,627 | — |
| Conversion | Acquired | 1 | 2,627 | — |
| Gift | Disposed | 3 | 6,164 | — |
| Open-market buy | Acquired | 4 | 10,000 | $2.4M |
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.
Form 144 notices
| Filed | Filer | Shares proposed | Est. proceeds |
|---|---|---|---|
| 2025-04-30 | Desalvo Karen B | 4,000 | $605,410 |
| 2024-12-09 | Kenneth J. Bacon | 2,200 | $289,014 |
| 2024-06-04 | Bacon Kenneth J | 1,800 | $187,038 |
| 2024-02-15 | Menon Ayesha | 8,162 | $766,371 |
A Form 144 is notice of a proposed sale, not a confirmed one.
Congress trades
12 months: House 4 trades (3 purchases) · Senate 2 (2 purchases)| Traded | Member | Chamber | Type | Amount | Disclosed |
|---|---|---|---|---|---|
| 2026-09-04 | Ro Khanna | House | Sale | $1,001 - $15,000 | 2026-10-09 |
| 2026-03-30 | Alan Armstrong | Senate | Purchase | $1,001 - $15,000 | 2026-07-20 |
| 2026-03-27 | Alan Armstrong | Senate | Purchase | $1,001 - $15,000 | 2026-07-20 |
| 2026-02-11 | Jonathan Jackson | House | Purchase | $1,001 - $15,000 | 2026-03-13 |
| 2026-02-11 | Jonathan Jackson | House | Purchase | $1,001 - $15,000 | 2026-03-13 |
| 2026-02-10 | Jonathan Jackson | House | Purchase | $1,001 - $15,000 | 2026-03-13 |
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.
Largest 13F holders
Quarter to 2026-06-30, the latest most managers have filed| Manager | Shares | Value | % of shares out |
|---|---|---|---|
| BlackRock, Inc. | 78,049,214 | $17.7B | 10.83% |
| VANGUARD CAPITAL MANAGEMENT LLC | 46,118,974 | $10.5B | 6.40% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 43,449,568 | $9.9B | 6.03% |
| STATE STREET CORP | 42,138,810 | $9.6B | 5.85% |
| Capital International Investors | 39,500,055 | $9.0B | 5.48% |
| COHEN & STEERS, INC. | 36,821,274 | $8.4B | 5.11% |
| Capital World Investors | 20,028,842 | $4.5B | 2.78% |
| BANK OF AMERICA CORP /DE/ | 19,496,361 | $4.4B | 2.71% |
| FMR LLC | 19,451,466 | $4.4B | 2.70% |
| PRICE T ROWE ASSOCIATES INC /MD/ | 18,490,213 | $4.2B | 2.57% |
| NORGES BANK | 18,146,984 | $4.1B | 2.52% |
| GEODE CAPITAL MANAGEMENT, LLC | 17,685,516 | $4.0B | 2.45% |
| WELLINGTON MANAGEMENT GROUP LLP | 15,179,324 | $3.4B | 2.11% |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | 10,624,243 | $2.4B | 1.47% |
| PRINCIPAL FINANCIAL GROUP INC | 9,814,621 | $2.2B | 1.36% |
Institutional ownership by quarter
% of shares held by 13F filers
Number of 13F filers holding
Holder changes by quarter
| Quarter | Holders | Ownership | New | Increased | Reduced | Closed |
|---|---|---|---|---|---|---|
| 2026-06-30 | 1,600 | 101.9% | 206 | 670 | 485 | 81 |
| 2026-03-31 | 1,492 | 95.7% | 181 | 665 | 439 | 101 |
| 2025-12-31 | 1,432 | 96.0% | 214 | 608 | 405 | 83 |
| 2025-09-30 | 1,330 | 88.9% | 174 | 587 | 353 | 82 |
| 2025-06-30 | 1,260 | 92.1% | 128 | 587 | 362 | 79 |
| 2025-03-31 | 1,230 | 90.5% | 189 | 528 | 338 | 68 |
| 2024-12-31 | 1,127 | 87.9% | 164 | 462 | 318 | 74 |
| 2024-09-30 | 1,054 | 85.3% | 137 | 402 | 350 | 65 |
| 2024-06-30 | 995 | 83.0% | 125 | 436 | 284 | 69 |
| 2024-03-31 | 958 | 79.9% | 101 | 391 | 308 | 62 |
| 2023-12-31 | 928 | 76.4% | 161 | 366 | 259 | 42 |
| 2023-09-30 | 818 | 72.8% | 70 | 325 | 254 | 48 |
Schedule 13D / 13G filers
| Filed | Form | Filer | % of class | Shares |
|---|---|---|---|---|
| 2026-08-07 | SCHEDULE 13G/A | Cohen & Steers Ireland Limited | 0.0% | 117,122 |
| 2026-04-30 | SCHEDULE 13G | Vanguard Capital Management | 7.5% | 52,720,335 |
| 2026-04-29 | SCHEDULE 13G | Vanguard Portfolio Management | 6.0% | 41,946,928 |
| 2026-03-27 | SCHEDULE 13G/A | The Vanguard Group | 0.0% | 0 |
Required above 5% of a class; 13G is the passive form.
ETFs with the largest holding
| ETF | Weight in fund | Holding value |
|---|---|---|
| VGSNX | 9.12% | $6.1B |
| VGSLX | 9.12% | $6.1B |
| VNQ | 9.12% | $6.1B |
| VITSX | 0.23% | $5.3B |
| VTI | 0.23% | $5.3B |
| VSMPX | 0.23% | $5.3B |
Share structure
Shares outstanding720,572,011
Float719,750,323
Free float99.9%
Income statement
Fiscal years, USD| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Revenue | $4.7B | $5.8B | $6.5B | $7.9B | $10.7B |
| Cost of revenue | $2.8B | $3.6B | $3.9B | $4.8B | $6.5B |
| Gross profit | $1.9B | $2.2B | $2.5B | $3.0B | $4.2B |
| R&D | $0 | $0 | $0 | $0 | $0 |
| SG&A | $126.7M | $150.4M | $179.1M | $235.5M | $1.7B |
| Operating income | $763.4M | $746.2M | $940.5M | $1.1B | $355.2M |
| EBITDA | $1.7B | $2.0B | $2.4B | $2.8B | $2.3B |
| Pretax income | $383.2M | $167.8M | $364.5M | $975.6M | $954.7M |
| Income tax | $8.7M | $7.2M | $6.4M | $2.7M | −$7.1M |
| Net income | $336.1M | $141.2M | $340.1M | $951.7M | $936.8M |
| EPS, diluted | $0.78 | $0.30 | $0.66 | $1.57 | $1.39 |
| Diluted shares | 426.8M | 465.2M | 518.7M | 608.8M | 679.5M |
Balance sheet
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Cash & short-term investments | $269.3M | $631.7M | $2.0B | $3.5B | $5.0B |
| Receivables | $2.2B | $2.4B | $2.9B | $3.5B | $4.7B |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $2.6B | $3.1B | $5.0B | $7.2B | $9.9B |
| PP&E, net | $522.8M | $323.9M | $351.0M | $1.2B | $2.2B |
| Goodwill & intangibles | $68.3M | $68.3M | $68.3M | $815.2M | $0 |
| Total assets | $34.9B | $37.9B | $44.0B | $51.0B | $67.3B |
| Accounts payable | $174.8M | $216.7M | $173.2M | $229.3M | $297.1M |
| Total current liabilities | $1.3B | $1.2B | $1.1B | $1.4B | $1.9B |
| Long-term debt | $13.8B | $14.5B | $15.7B | $15.5B | $19.2B |
| Total liabilities | $15.9B | $16.5B | $17.6B | $18.5B | $24.1B |
| Shareholders' equity | $19.0B | $21.4B | $26.4B | $32.6B | $43.2B |
Cash flow statement
Outflows are negative| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Net income | $374.5M | $160.6M | $340.1M | $972.9M | $961.8M |
| Depreciation & amortization | $1.1B | $1.3B | $1.4B | $1.7B | $2.1B |
| Stock-based compensation | $17.8M | $26.1M | $37.2M | $75.8M | $1.6B |
| Change in working capital | −$44.6M | −$140.6M | −$76.4M | −$42.0M | −$280.8M |
| Operating cash flow | $1.3B | $1.3B | $1.6B | $2.3B | $2.9B |
| Capital expenditure | −$19.4M | −$30.5M | −$50.7M | −$58.1M | −$33.8M |
| Free cash flow | $1.3B | $1.3B | $1.6B | $2.2B | $2.8B |
| Investing cash flow | −$4.5B | −$3.7B | −$5.7B | −$5.5B | −$10.5B |
| Net debt issued / repaid | $320.8M | $371.3M | $655.0M | −$635.1M | $2.6B |
| Buybacks | $0 | $0 | $0 | $0 | $0 |
| Dividends paid | −$1.0B | −$1.1B | −$1.3B | −$1.5B | −$1.9B |
Ratio history
Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Gross margin | 41.1% | 38.4% | 39.1% | 38.5% | 39.2% |
| Operating margin | 16.2% | 12.9% | 14.5% | 14.6% | 3.3% |
| Net margin | 7.1% | 2.4% | 5.2% | 12.1% | 8.8% |
| FCF margin | 26.7% | 22.5% | 24.2% | 26.2% | 26.9% |
| ROE | 2.0% | 0.7% | 1.5% | 3.3% | 2.5% |
| ROIC | 2.3% | 2.1% | 2.3% | 2.5% | 0.6% |
| ROA | 1.0% | 0.4% | 0.8% | 2.0% | 1.6% |
| Debt / equity | 0.83 | 0.74 | 0.63 | 0.52 | 0.51 |
| Interest coverage | 1.3x | 1.3x | 1.6x | 1.9x | 0.3x |
| Current ratio | 1.93 | 2.63 | 4.51 | 5.28 | 5.34 |
| Revenue growth | +2.7% | +22.6% | +12.2% | +21.2% | +35.8% |
| EPS growth | −67.2% | −61.9% | +110.7% | +143.7% | −12.1% |
| P/E at year end | 101.1x | 209.0x | 140.6x | 82.5x | 140.7x |
| EV / EBITDA at year end | 28.2x | 21.5x | 25.8x | 33.0x | 64.1x |
| FCF yield at year end | 3.70% | 4.40% | 3.27% | 2.62% | 2.18% |
| Dividend payout | 308.2% | 801.3% | 370.7% | 162.4% | 200.5% |
Revenue by segment
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Senior Housing - Operating | — | — | $4.8B | $6.0B | $8.5B |
| Management Service | $3.2B | $0 | — | — | — |
| Triple Net | — | — | $1.0B | $788.8M | $1.2B |
| Outpatient Medical | — | — | $751.2M | $802.1M | $781.9M |
| Interest Revenue | $137.6M | $150.6M | — | — | — |
| Product and Service, Other | $32.6M | $84.5M | — | — | — |
Revenue by region · FY2025
UNITED STATES$7.9B · 73%
UNITED KINGDOM$2.2B · 20%
CANADA$734.3M · 7%
Street estimates by fiscal year
Next report 2026-10-26 · consensus EPS $0.65 · these are analysts' numbers, not ours| Fiscal year | Revenue (mean) | Revenue range | EPS (mean) | EPS range | Analysts | P/E on mean EPS |
|---|---|---|---|---|---|---|
| 2026 | $14.2B | $14.1B – $14.3B | $2.86 | $2.85 – $2.88 | 5 | 82.2x |
| 2027 | $16.3B | $16.2B – $16.3B | $3.25 | $3.13 – $3.37 | 6 | 72.3x |
| 2028 | $18.1B | $15.8B – $19.8B | $3.96 | $2.74 – $4.77 | 6 | 59.3x |
Reported vs expected, every quarter on file
| Reported | EPS expected | EPS actual | EPS surprise | Revenue expected | Revenue actual | Revenue surprise |
|---|---|---|---|---|---|---|
| 2026-07-27 | $0.62 | $0.61 | −1.1% | $3.4B | $3.5B | +4.2% |
| 2026-04-28 | $0.68 | $1.04 | +53.2% | $3.1B | $3.4B | +7.4% |
| 2026-02-10 | $0.59 | $1.13 | +91.5% | $2.9B | $3.2B | +11.3% |
| 2025-10-27 | $1.30 | $1.34 | +3.1% | $3.0B | $2.7B | −9.2% |
| 2025-07-28 | $1.22 | $1.28 | +4.9% | $2.7B | $2.5B | −7.3% |
| 2025-04-28 | $1.15 | $1.20 | +4.3% | $2.5B | $2.4B | −5.4% |
| 2025-02-11 | $0.40 | $1.13 | +182.5% | $2.2B | $2.2B | +1.4% |
| 2024-10-28 | $1.04 | $1.11 | +6.7% | $2.1B | $2.0B | −3.0% |
| 2024-07-29 | $1.00 | $1.05 | +5.0% | $2.0B | $1.8B | −6.5% |
| 2024-04-29 | $0.94 | $1.01 | +7.4% | $1.8B | $1.9B | +3.0% |
| 2024-02-13 | $0.94 | $0.96 | +2.1% | $1.7B | $1.7B | +1.7% |
| 2023-10-30 | $0.89 | $0.92 | +3.4% | $1.6B | $1.7B | +2.2% |
| 2023-07-31 | $0.86 | $0.90 | +4.7% | $1.9B | $1.7B | −11.7% |
| 2023-05-02 | $0.82 | $0.85 | +3.7% | $1.5B | $1.6B | +1.5% |
| 2023-02-15 | $0.82 | $0.83 | +1.2% | $1.3B | $1.5B | +13.2% |
| 2022-11-07 | $0.84 | $0.84 | 0.0% | $1.4B | $1.5B | +1.7% |
| 2022-08-09 | $0.85 | $0.86 | +1.2% | $1.4B | $1.5B | +4.4% |
| 2022-05-10 | $0.82 | $0.82 | 0.0% | $1.4B | $1.4B | +3.1% |
| 2022-02-15 | $0.81 | $0.83 | +2.5% | $1.2B | $1.3B | +5.8% |
| 2021-11-04 | $0.80 | $0.80 | 0.0% | $1.1B | $1.2B | +10.1% |
| 2021-07-29 | $0.77 | $0.79 | +2.6% | $1.1B | $1.1B | +4.7% |
| 2021-04-28 | $0.75 | $0.80 | +6.7% | $1.1B | $1.1B | −3.7% |
| 2021-02-09 | $0.77 | $0.84 | +9.1% | $1.0B | $1.1B | +8.3% |
| 2020-10-28 | $0.16 | $0.77 | +381.2% | $215.5M | $1.0B | +381.3% |
Off-exchange (dark pool) volume, weekly
FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)| Week of | Notional | Shares | Trades |
|---|---|---|---|
| 2026-08-31 | $773.1M | 3,235,204 | 64,077 |
| 2026-08-24 | $637.5M | 2,651,763 | 59,664 |
| 2026-08-17 | $518.0M | 2,185,305 | 56,719 |
| 2026-08-10 | $966.8M | 4,163,146 | 76,224 |
| 2026-08-03 | $998.4M | 4,276,316 | 75,673 |
| 2026-07-27 | $1.2B | 4,864,243 | 87,743 |
Short-sale share of off-exchange volume
daily 20-day average| Date | Short share | Short volume | Total volume |
|---|---|---|---|
| 2026-10-15 | 61.7% | 608,762 | 986,600 |
| 2026-10-14 | 55.4% | 417,516 | 753,874 |
| 2026-10-13 | 43.7% | 333,351 | 763,630 |
| 2026-10-12 | 52.0% | 354,876 | 682,124 |
| 2026-10-09 | 56.7% | 457,295 | 806,633 |
| 2026-10-08 | 51.0% | 423,085 | 829,912 |
| 2026-10-07 | 54.5% | 323,294 | 593,114 |
| 2026-10-06 | 62.9% | 419,455 | 666,938 |
| 2026-10-05 | 60.5% | 505,836 | 836,621 |
| 2026-10-02 | 60.7% | 609,357 | 1,003,823 |
A daily flow measure from FINRA, not short interest.
Seasonality
Average return by calendar month| Month | Avg return | Up years | Years |
|---|---|---|---|
| Jan | +2.3% | 65% | 20 |
| Feb | +0.1% | 45% | 20 |
| Mar | +1.0% | 67% | 21 |
| Apr | +3.1% | 65% | 20 |
| May | +1.1% | 40% | 20 |
| Jun | +0.4% | 45% | 20 |
| Jul | +3.4% | 80% | 20 |
| Aug | +2.6% | 70% | 20 |
| Sep | −0.7% | 45% | 20 |
| Oct | +1.3% | 65% | 20 |
| Nov | +1.4% | 60% | 20 |
| Dec | +1.6% | 60% | 20 |
History, not a forecast.
Indicators
as of 2026-10-16RSI 1457.2
MFI40.1
ADX14.1
Stochastic %K / %D77.5 / 70.0
Williams %R-18.0
CCI111
TSI / signal-3.7 / -11.4
Chaikin money flow-0.21
ATR$4.82
Bollinger width6.8%
Volume vs 20-day avg0.53x
SupertrendDown
Moving averages and bands
level (price vs level)SMA 20$229.52 (+2.3%)
SMA 50$233.38 (+0.6%)
SMA 200$215.89 (+8.8%)
EMA 21$230.50 (+1.9%)
EMA 50$231.43 (+1.5%)
EMA 200$216.24 (+8.6%)
Bollinger upper$237.27 (−1.0%)
Bollinger lower$221.78 (+5.9%)
Parabolic SAR$221.85 (+5.9%)
Open the live chart, 110+ indicatorsAbout Welltower Inc.
Welltower Inc. (NYSE:WELL), an S&P 500 company based in Toledo, Ohio, is a leader in reshaping healthcare infrastructure. This Real Estate Investment Trust (REIT) strategically collaborates with premier operators in seniors housing, post-acute care, and health systems. Their core mission is to finance the vital property assets required to expand innovative care delivery models, thereby enhancing overall public wellness and healthcare experiences. Welltower's portfolio encompasses a variety of properties, including seniors housing, post-acute communities, and outpatient medical facilities, all situated primarily within key, rapidly growing markets across the United States, Canada, and the United Kingdom.
https://www.welltower.com
Key executives
| Name | Title | Pay | Born |
|---|---|---|---|
| Shankh S. Mitra | Chief Executive Officer & Director | $7.9M | 1981 |
| Nikhil Chaudhri | Co-President & Chief Investment Officer | $3.6M | 1988 |
| Timothy G. McHugh | Co-President & Chief Financial Officer | $3.2M | 1985 |
| John F. Burkart | Vice Chairman & Chief Operating Officer | $3.0M | 1964 |
| Matthew Grant McQueen | Chief Legal Officer, General Counsel & Corporate Secretary | $2.6M | 1973 |
| John Olympitis | Executive Vice President & Head of Corporate Development | — | — |
| Joshua T. Fieweger | Senior Vice President & Chief Accounting Officer | — | 1981 |
| Pam Byrne | Senior Vice President & Head of Human Capital | — | — |
Executive pay, latest proxy
| Executive | Year | Salary | Stock awards | Incentive | Total |
|---|---|---|---|---|---|
| Nikhil Chaudhri Co-President and Chief Investment Officer | 2025 | $700,000 | $182.3M | $2.8M | $185.8M |
Employees
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| 2026-08-12 | $0.85 | 2026-08-20 |
| 2026-05-13 | $0.74 | 2026-05-21 |
| 2026-02-25 | $0.74 | 2026-03-10 |
| 2025-11-10 | $0.74 | 2025-11-20 |
| 2025-08-12 | $0.74 | 2025-08-21 |
| 2025-05-14 | $0.67 | 2025-05-22 |
| 2025-02-25 | $0.67 | 2025-03-06 |
| 2024-11-13 | $0.67 | 2024-11-21 |
Moat model
Weak · Efficient Scale · 2026-06-30Cost advantage45
Intangibles37
Switching costs57
Network effect50
Efficient scale80
Our component scores (0-100) and overall 52.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17