Welltower (WELL) income statement
NYSE · Real Estate · REIT - Healthcare Facilities · 712 employees · CEO Shankh S. Mitra
- Price
- $234.61 +0.62%
- Market cap
- $169B
- Enterprise value
- $188B
- Last report
- Q3 '26 filed 2026-10-27
- Next report
- 2027-02-09 EPS est. $0.69
Welltower (WELL) reported revenue of $3.72B for Q3 '26 (+41.4% year on year), operating income of $537M (14.5% of revenue) and net income of $397M. Over the last four quarters revenue was $13.7B.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.72B | $1.83B | $1.79B | $2.01B | $2.22B | $2.39B | $2.52B | $2.63B | $3.13B | $3.31B | $3.54B | $3.72B | |
| Cost of revenue | $1.04B | $1.1B | $1.11B | $1.21B | $1.41B | $1.46B | $1.51B | $1.58B | $1.93B | $2.06B | $2.15B | $2.25B | |
| Gross profit | $682M | $734M | $681M | $798M | $810M | $926M | $1B | $1.05B | $1.2B | $1.25B | $1.39B | $1.47B | |
| General & administrative | $44.3M | $53.3M | $55.6M | $77.9M | $48.7M | $63.8M | $64.2M | $63.1M | $1.56B | $67.5M | $67.5M | $67.2M | |
| Other operating expenses | $383M | $367M | $387M | $408M | $480M | $484M | $494M | $511M | $587M | $624M | $738M | $865M | |
| Operating expenses | $428M | $420M | $443M | $486M | $529M | $548M | $558M | $574M | $2.14B | $692M | $805M | $932M | |
| Operating income | $254M | $313M | $239M | $312M | $281M | $379M | $443M | $477M | -$944M | $558M | $589M | $537M | |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $77.4M | $0 | |
| Interest expense | $155M | $147M | $133M | $139M | $154M | $145M | $141M | $162M | $204M | $193M | $182M | $193M | |
| Other non-operating income (gains on investments, FX ...) | $12.3M | $25.3M | $14.8M | -$10.4M | $17.4M | $34.9M | $3.96M | $21.8M | $123M | $20.5M | $0 | -$77.2M | |
| Total non-operating income | -$171M | -$176M | $23.1M | $140M | -$157M | -$127M | -$138M | -$192M | $1.06B | $206M | -$269M | -$115M | |
| Income before tax | $83.7M | $138M | $262M | $452M | $124M | $252M | $306M | $285M | $113M | $764M | $320M | $422M | |
| Income tax | -$4.77M | $6.19M | $1.1M | -$4.71M | $114K | -$5.52M | $1.05M | $2.34M | -$4.99M | $11.6M | $62M | $7.12M | |
| Net income | $83.9M | $127M | $255M | $450M | $120M | $258M | $302M | $281M | $96.4M | $729M | $240M | $397M | |
| EPS (basic) | $0.15 | $0.22 | $0.42 | $0.74 | $0.19 | $0.40 | $0.46 | $0.41 | $0.14 | $1.04 | $0.34 | $0.55 | |
| EPS (diluted) | $0.15 | $0.22 | $0.42 | $0.73 | $0.19 | $0.40 | $0.45 | $0.40 | $0.14 | $1.02 | $0.33 | $0.54 | |
| Shares (basic, weighted) | 549M | 574M | 601M | 611M | 626M | 643M | 657M | 672M | 690M | 700M | 705M | 724M | |
| Shares (diluted, weighted) | 552M | 578M | 605M | 618M | 634M | 654M | 668M | 685M | 710M | 726M | 732M | 755M | |
| Depreciation & amortization | $392M | $379M | $397M | $419M | $485M | $500M | $508M | $524M | $607M | $632M | $738M | $707M | |
| EBITDA | $634M | $667M | $621M | $742M | $748M | $843M | $948M | $979M | -$459M | $1.17B | $1.33B | $1.32B |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.25B | $4.3B | $4.67B | $5.1B | $4.59B | $4.71B | $5.78B | $6.48B | $7.85B | $10.7B | |
| Cost of revenue | $1.88B | $2.08B | $2.43B | $2.69B | $2.6B | $2.77B | $3.56B | $3.95B | $4.83B | $6.49B | |
| Gross profit | $2.37B | $2.22B | $2.24B | $2.41B | $1.99B | $1.93B | $2.22B | $2.53B | $3.02B | $4.18B | |
| General & administrative | $155M | $122M | $126M | $127M | $128M | $127M | $150M | $179M | $235M | $1.75B | |
| Other operating expenses | $911M | $985M | $950M | $1.05B | $1.13B | $1.04B | $1.32B | $1.41B | $1.64B | $2.08B | |
| Operating expenses | $1.07B | $1.11B | $1.08B | $1.17B | $1.26B | $1.17B | $1.47B | $1.59B | $1.88B | $3.82B | |
| Operating income | $1.31B | $1.11B | $1.16B | $1.24B | $727M | $763M | $746M | $940M | $1.15B | $355M | |
| Interest income | $98M | $73.8M | $55.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Interest expense | $521M | $485M | $527M | $556M | $514M | $490M | $530M | $608M | $574M | $652M | |
| Other non-operating income (gains on investments, FX ...) | $77.2M | $324M | $211M | $140M | $245M | $103M | $43.6M | -$17.4M | $47M | $183M | |
| Total non-operating income | -$609M | -$892M | -$323M | $95.3M | $321M | -$380M | -$578M | -$576M | -$170M | $600M | |
| Income before tax | $699M | $216M | $838M | $1.33B | $1.05B | $383M | $168M | $365M | $976M | $955M | |
| Income tax | -$19.1M | $20.1M | $8.67M | $2.96M | $9.97M | $8.71M | $7.25M | $6.36M | $2.7M | -$7.12M | |
| Net income | $1.08B | $523M | $805M | $1.23B | $979M | $336M | $141M | $340M | $952M | $937M | |
| EPS (basic) | $2.83 | $1.26 | $2.03 | $3.07 | $2.36 | $0.79 | $0.31 | $0.66 | $1.58 | $1.41 | |
| EPS (diluted) | $2.81 | $1.26 | $2.02 | $3.05 | $2.33 | $0.78 | $0.30 | $0.66 | $1.57 | $1.39 | |
| Shares (basic, weighted) | 358M | 367M | 374M | 402M | 415M | 425M | 462M | 516M | 603M | 666M | |
| Shares (diluted, weighted) | 360M | 369M | 375M | 404M | 417M | 427M | 465M | 519M | 609M | 680M | |
| Depreciation & amortization | $910M | $939M | $970M | $1.04B | $1.05B | $1.05B | $1.34B | $1.44B | $1.68B | $2.14B | |
| EBITDA | $2.14B | $1.72B | $1.92B | $2.14B | $1.53B | $1.71B | $2.04B | $2.4B | $2.78B | $2.31B |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-01