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WELL WELLTOWER INC.

NYSEReal estateReal Estate Investment TrustsToledo, OHFY ends December 31

FY2025 10-K filed Feb 12, 2026 (SEC EDGAR)

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$10.8BYoYup 35.63%ended Dec 31, 2025
Net income
—
Diluted EPS
$1.39YoYdown 11.46%
Free cash flow
—
Cash
$5.03B
Total debt
—Not meaningful for financial companies
About WELLTOWER INC.

Overview

WELLTOWER INC. (WELL) is listed on NYSE; the SEC classifies it under "Real Estate Investment Trusts".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $10.84B, up 35.6% from fiscal 2024.

At fiscal year end it had total assets of $67.3B and stockholders' equity of $42.13B (62.6% of assets).

Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 12, 2026
Latest filing
8-KOct 27, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenue
FY2016$4.28B
FY2017$4.32B
FY2018$4.7B
FY2019$5.12B
FY2020$4.61B
FY2021$4.74B
FY2022$5.86B
FY2023$6.64B
FY2024$7.99B
FY2025$10.8B

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$2.81
FY2017$1.26
FY2018$2.02
FY2019$3.05
FY2020$2.33
FY2021$0.78
FY2022$0.30
FY2023$0.66
FY2024$1.57
FY2025$1.39

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY2016360M
FY2017369M
FY2018375M
FY2019404M
FY2020417M
FY2021427M
FY2022465M
FY2023519M
FY2024609M
FY2025680M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalents
FY2016$419M
FY2017$244M
FY2018$215M
FY2019$285M
FY2020$1.55B
FY2021$269M
FY2022$632M
FY2023$1.99B
FY2024$3.51B
FY2025$5.03B

Total debt: Not meaningful for financial companies

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Gross marginNot meaningful for financial companies
—

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 35.63%up 22.74%up 18.67%up 10.87%
EPS (diluted)down 11.46%up 66.71%down 9.82%down 7.52%
Free cash flow————
Change in share count
+11.63%

Financial strength

Current ratioNot meaningful for financial companies
—
Debt / equityNot meaningful for financial companies
—
Liabilities / assets
35.8%
Net debtNot meaningful for financial companies
—
Interest coverageNot meaningful for financial companies
—
Equity / assets
62.6%

Shareholder returns

Dividends per share
$2.82
Dividends paid
$1.88B
Buybacks
—
Stock comp. / revenue
14.4%

Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

Not meaningful for financial companies.

Altman Z''-Score

Not meaningful for financial companies.

Screening heuristic, not a recommendation. Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Revenue10,8387,9916,6385,8614,7424,6065,1214,7004,3174,281
YoY (Revenue)+35.63%+20.38%+13.26%+23.59%+2.96%-10.06%+8.95%+8.89%+0.83%—
Gross profit4,3503,1612,6902,3021,9682,0082,431———
Selling, general & admin.1,748235179150127128127126122155
Interest expense——608530490514556527485521
Pretax income—524350173171-31.6543423300709
Income tax-7.122.76.367.258.719.972.968.6720.1-19.1
EPS (basic)1.411.580.660.310.792.363.072.031.262.83
EPS (diluted)1.391.570.660.300.782.333.052.021.262.81
YoY (EPS (diluted))-11.46%+137.88%+120.00%-61.54%-66.52%-23.61%+50.99%+60.32%-55.16%—
Diluted shares (weighted)680609519465427417404375369360

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Cash & equivalents5,0343,5071,9946322691,545285215244419
Goodwill34614968.368.368.368.368.368.368.368.3
Intangible assets909666515461503323436384——
Total assets67,30351,04444,01237,89334,91032,48433,38130,34227,94428,865
Long-term debt19,19715,50015,73614,71413,91013,88813,42112,18611,03611,725
Total liabilities24,10018,47217,64016,49915,91215,25916,39814,33112,64413,185
Retained earnings11,03410,0979,1458,8058,6648,3287,3546,122——
Stockholders' equity42,12931,95625,40420,29517,63615,97315,54014,63214,42314,806
Shares outstanding697635564491447417410384372363

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Operating cash flow2,8822,2561,6021,3291,2751,3651,5361,5841,4341,629
Depreciation & amortization2,0851,6321,4011,3101,0381,0381,027950922901
Stock-based compensation1,55775.837.226.117.828.32527.619.128.9
Share repurchases———007.66————
Dividends paid1,8781,5451,2611,1321,0371,1201,4051,3001,2771,234
Dividends per share2.822.562.442.442.442.703.483.483.483.44
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$1.39
Revenue per share
$15.95
Book value per share
$62.00
Tangible book per share
$60.15
Cash per share
$7.41
Dividends per share
$2.82
Public floatas of Jun 30, 2025
$102B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 8-K
    Current report· Oct 27, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  2. 10-Q
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  3. 8-K
    Current report· Oct 26, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  4. 8-K
    Current report· Jul 28, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  5. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  6. 8-K
    Current report· Jul 27, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  7. 8-K
    Current report· Jul 13, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  8. 8-K
    Current report· Jun 1, 2026(SEC EDGAR)
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  9. 8-K
    Current report· May 21, 2026(SEC EDGAR)
    • 5.07Shareholder vote results
  10. 8-K
    Current report· Apr 29, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
All filings on SEC EDGAR
SIC 6798 · Real Estate Investment Trusts

Peers (same SIC code)

Peers (same SIC code)
TickerRevenue (FY)YoYNet marginROEF-Score5y revenue
WELLWELLTOWER INC. (This company)$10.8Bup 35.63%———
PLDPrologis, Inc.$8.79Bup 7.18%37.9%6.2%—
Peer median$8.79Bup 7.18%37.9%6.2%——

Companies with the same 4-digit SIC code, ordered by latest revenue. The median excludes this company. — = not reported or not computable.

Frequently asked questions

What does WELLTOWER INC. do?

The SEC classifies WELLTOWER INC. under Standard Industrial Classification (SIC) code 6798, "Real Estate Investment Trusts". It is headquartered in Toledo, OH. It is incorporated in DE. In fiscal 2025 it reported revenue of $10.84B in its annual 10-K report.

What was WELLTOWER INC.'s revenue in 2025?

WELLTOWER INC. reported revenue of $10.84B for fiscal 2025, which ended Dec 31, 2025, up 35.6% from $7.99B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 12, 2026.

Where is WELLTOWER INC. listed?

According to the SEC, WELLTOWER INC.'s ticker WELL is listed on NYSE.

When does WELLTOWER INC.'s fiscal year end?

According to the SEC, WELLTOWER INC.'s fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.