WELLTOWER INC.

Listed Company

WELLCIK 0000766704NYSELarge AcceleratedReal Estate Investment TrustsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$10.84B

Net Income

$961.84M

Total Assets

$67.30B

Equity

$42.13B

Shares Out

705.91M

Op. Cash Flow

$2.88B

WELL$243.31+54.35% · past yearDBEQ Basic

Daily closing prices

Business

Welltower Inc. is a REIT investing in seniors housing, wellness housing, and post-acute care communities across the United States, United Kingdom, and Canada. The company generates revenue through triple-net leases to operating partners and direct operating management of its portfolio. Welltower operates three reportable segments: Seniors Housing Operating, Triple-Net, and Outpatient Medical, deploying capital through property acquisitions, developments, and joint venture partnerships.

Summary from 10-K filed 2026-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Resident fees and services	8,453	6,027	4,754	4,174	3,197
Rental income	1,968	1,570	1,556	1,452	1,375
Interest income	246	256	168	151	138
Other income	171	138	160	85	33
Total revenues	10,838	7,991	6,638	5,861	4,742
Property operating expenses	6,488	4,830	3,948	3,559	2,775
Depreciation and amortization	2,085	1,632	1,401	1,310	1,038
Interest expense	652	574	608	530	—
General and administrative expenses	1,748	235	179	150	127
Loss (gain) on derivatives and financial instruments, net	22	−28	−2	8	−7
Loss (gain) on extinguishment of debt, net	9	2	7,000	680,000	50
Provision for loan losses, net	−9	10	10	10	7
Impairment of assets	121	93	36	18	51
Other expenses	201	117	108	102	42
Total expenses	11,318	7,467	6,288	5,688	4,571
Income (loss) from continuing operations before income taxes and other items	−480	524	350	—	—
Income tax (expense) benefit	7	−3	−6	−7	−9
Income (loss) from unconsolidated entities	−14	−496,000	−53	−21	−23
Gain (loss) on real estate dispositions and acquisitions of controlling interests, net	1,449	452	68	16	—
Income (loss) from continuing operations	962	973	358	161	374
Net income	962	973	358	161	374
Less: Net income (loss) attributable to noncontrolling interests	25	21	18	19	38
Net income (loss) attributable to common stockholders	937	952	340	141	336
Basic (in shares)	666	603	516	462	425
Diluted (in shares)	680	609	519	465	427
Income (loss) from continuing operations (in USD per share)	1.44	1.61	0.69	0.35	0.88
Net income (loss) attributable to common stockholders (in USD per share)	1.41	1.58	0.66	0.31	0.79
Income (loss) from continuing operations (in USD per share)	1.42	1.6	0.69	0.35	0.88
Net income (loss) attributable to common stockholders (in USD per share)	1.39	1.57	0.66	0.3	0.78
Foreign currency translation gain (loss)	677	−327	224	−467	−53
Derivative and financial instruments designated as hedges gain (loss)	−606	166	−245	443	80
Total other comprehensive income (loss)	71	−161	−21	−24	27
Total comprehensive income (loss)	1,033	812	337	136	401
Less: Total comprehensive income (loss) attributable to noncontrolling interests	24	10	28	−7	38
Total comprehensive income (loss) attributable to common stockholders	1,009	802	309	143	363

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Land and land improvements	6,681	5,271	4,698	4,250	3,968
Buildings and improvements	52,058	42,208	37,797	33,651	31,062
Acquired lease intangibles	2,846	2,549	2,166	1,945	1,790
Real property held for sale, net of accumulated depreciation	1,450	52	373	133	134
Construction in progress	739	1,220	1,304	1,021	651
Less accumulated depreciation and amortization	−10,351	−10,626	−9,275	−8,076	−6,910
Net real property owned	53,423	40,673	37,063	32,925	30,696
Right of use assets, net	2,158	1,201	351	324	523
Investments in sales-type leases, net	498	172	0	—	—
Real estate loans receivable, net of credit allowance	1,831	1,805	1,362	891	1,069
Net real estate investments	57,911	43,852	38,776	34,140	32,287
Investments in unconsolidated entities	1,810	1,769	1,637	1,500	1,039
Cash and cash equivalents	5,034	3,507	1,994	632	269
Restricted cash	176	205	82	91	77
Receivables and other assets	2,373	1,712	1,524	1,141	803
Total other assets	9,393	7,193	5,236	3,753	2,623
Total assets	67,303	51,044	44,012	37,893	34,910
Unsecured credit facility and commercial paper	0	0	0	0	325
Senior unsecured notes	16,384	13,162	13,552	12,437	11,614
Secured debt	2,814	2,338	—	—	—
Lease liabilities	2,183	1,258	383	416	546
Accrued expenses and other liabilities	2,720	1,713	1,522	1,535	1,236
Total liabilities	24,100	18,472	17,640	16,499	15,912
Redeemable noncontrolling interests	263	256	291	384	401
Common stock	697	637	566	492	449
Capital in excess of par value	50,899	40,017	32,742	26,743	23,134
Treasury stock	−14	−114	−112	−111	−108
Cumulative net income	11,034	10,097	9,145	8,805	8,664
Cumulative dividends	−20,197	−18,320	−16,774	−15,514	−14,381
Accumulated other comprehensive income (loss)	−288	−360	−163	−120	−121
Total Welltower Inc. stockholders equity	42,129	31,956	25,404	20,295	17,636
Noncontrolling interests	810	360	677	715	961
Total equity	42,940	32,316	26,081	21,010	18,597
Total liabilities and equity	67,303	51,044	44,012	37,893	34,910

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2,085	1,632	1,401	1,310	1,038
Other amortization expenses	56	48	43	28	19
Stock-based compensation expense	1,557	76	37	26	18
Rental income less than (in excess of) cash received	−225	−16	−136	−109	−31
Amortization related to above (below) market leases, net	−3	−219,000	−529,000	−2	−4
Proceeds from (payments on) interest rate swap settlements	0	−60	0	0	—
Loss (gain) on loss of control of subsidiary	0	0	−65	0	0
Distributions by unconsolidated entities	22	20	12	12	17
Increase (decrease) in accrued expenses and other liabilities	−84	27	−80	51	78
Decrease (increase) in receivables and other assets	−197	−69	3	−191	−122
Net cash provided from (used in) operating activities	2,882	2,256	1,602	1,329	1,275
Cash disbursed for acquisitions, net of cash acquired	−13,914	−3,525	−3,558	−2,306	—
Cash disbursed for capital improvements to existing properties	−1,050	−858	−518	−476	−283
Cash disbursed for construction in progress	−438	−828	−1,015	−632	−418
Capitalized interest	−34	−58	−51	−30	−19
Investment in loans receivable	−691	−624	−491	−156	−997
Principal collected on loans receivable	222	294	90	196	343
Other investments, net of payments	−74	−61	−100	−98	−27
Contributions to unconsolidated entities	−500	−265	−343	−502	−396
Distributions by unconsolidated entities	310	52	150	38	287
Net proceeds from net investment hedge settlements	−3	20	31	64	—
Proceeds from sales of real property	5,658	337	97	199	1,070
Net cash provided from (used in) investing activities	−10,513	−5,515	−5,708	−3,704	−4,516
Net increase (decrease) under unsecured credit facility and commercial paper	0	0	0	—	325
Net increase (decrease) under unsecured credit facility and commercial paper	—	—	0	−325	—
Net carrying value included in senior unsecured notes	4,361	1,015	1,012	1,040	1,704
Payments to extinguish senior unsecured notes	−1,345	−1,350	0	0	−1,534
Net proceeds from the issuance of secured debt	5	198	385	113	24
Payments on secured debt	−411	−498	−742	−457	−198
Net proceeds from the issuance of common stock	8,901	7,416	6,010	3,668	2,348
Payments for deferred financing costs and prepayment penalties	−694,000	−23	−7	−5	−74
Contributions by noncontrolling interests	22	60	281	139	156
Distributions to noncontrolling interests	−640	−301	−216	−272	−139
Cash distributions to stockholders	−1,878	−1,545	−1,261	−1,132	−1,036
Other financing activities	−14	−65	−13	−8	−9
Net cash provided from (used in) financing activities	9,000	4,905	5,449	2,761	1,568
Effect of foreign currency translation on cash and cash equivalents and restricted cash	129	−12	11	−11	−1
Increase (decrease) in cash, cash equivalents and restricted cash	1,498	1,635	1,354	376	−1,674
Interest paid	580	593	629	532	493
Income taxes paid (received), net	23	8	8	3	−5

Filings

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Frequently asked questions

What is WELLTOWER INC.'s CIK number?

WELLTOWER INC.'s SEC CIK number is 0000766704 (766704). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find WELLTOWER INC.'s SEC filings?

All of WELLTOWER INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did WELLTOWER INC. last report earnings?

WELLTOWER INC. (WELL) most recently filed an earnings 8-K with the SEC on Apr 28, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000766704-26-000018). This is WELLTOWER INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is WELLTOWER INC.'s most recent earnings 8-K?

WELLTOWER INC.'s latest earnings 8-K (Item 2.02) was filed Apr 28, 2026 under accession 0000766704-26-000018. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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