Welltower Inc. (WELL) Financial Statements
Welltower financial statements at a glance
Welltower reported revenue of $10.84 billion for fiscal year 2025 (ended December 31, 2025), up 35.6% from fiscal year 2024. Net income was $936.85 million, a net margin of 8.6%.
At the end of fiscal year 2025 it had total assets of $67.30 billion, total liabilities of $25.17 billion and shareholders' equity of $42.13 billion, with total debt of $19.74 billion.
Its operations brought in $2.88 billion of cash.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
Welltower Inc.
Income Statement
Annual • USD
Welltower key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $10.8B | $8.0B | $6.6B | $5.9B | $4.7B |
| Gross profit | $4.5B | $3.2B | $2.7B | $2.3B | $1.9B |
| Operating income | $194.3M | $1.1B | $955.8M | $710.9M | $763.4M |
| Net income | $936.8M | $951.7M | $340.1M | $141.2M | $336.1M |
| Diluted EPS | – | – | – | – | $0.78 |
| Total assets | $67.3B | $51.0B | $44.0B | $37.9B | $34.9B |
| Total liabilities | $25.2B | $19.1B | $18.6B | $17.6B | $15.9B |
| Shareholders' equity | $42.1B | $32.0B | $25.4B | $20.3B | $17.6B |
| Cash | – | – | – | – | $269.3M |
| Total debt | $19.7B | $15.6B | $15.8B | $14.7B | $14.7B |
| Operating cash flow | $2.9B | $2.3B | $1.6B | $1.3B | $1.3B |
| Capital spending | – | – | – | – | $19.4M |
| Free cash flow | – | – | – | – | $1.3B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Welltower's revenue in fiscal year 2025?
$10.84 billion, up 35.6% from $7.99 billion in fiscal year 2024.
How much profit does Welltower make?
Welltower reported net income of $936.85 million for fiscal year 2025 (8.6% of revenue); operating income was $194.34 million.
How much cash and debt does Welltower have?
At the end of fiscal year 2025: total debt of $19.74 billion.
