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Ventas Income Statement

Revenue, expenses, and profitability over time

Ventas generated $6.1B in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $272.2M with a 4.44% net margin. Diluted EPS is $0.54, which grew 0.6% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$6.1BNet Income (TTM)$272.2MEps Diluted (TTM)$0.54
Latest FilingQ1 2026
Report Date2026-04-28
Market Cap$40.8B
P/E Ratio149.83
ROE2.21%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisition and integration costs$4.2M$6M$4.6M$5.5M—$6.7M
Depreciation and amortization$308.8M$321.5M$347.7M$357.2M$352.7M$382.5M
General and administrative$41.4M$53.1M$42.9M$40.4M$41M$62.7M
Other operating expenses—$1.4M—$13.4M—$9.7M
Total operating expenses$1.3B$1.3B$1.4B$1.4B$1.5B$1.6B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.14$0.11$0.15$0.14$0.15$0.12
Diluted earnings per share$0.13$0.10$0.15$0.14$0.14$0.11
Continuing operations (in dollars per share)$0.14$0.11$0.16$0.15$0.15$0.12
Continuing operations (in dollars per share)$0.14$0.11$0.16$0.15$0.16$0.12

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (loss) on extinguishment of debt-$15K$0$0-$119K-$53K-$449K
Interest expense$153.2M$149.4M$150.3M$158.1M$154.5M$156.1M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes-$508K$40.9M$42.7M$44.4M$76.3M$35.4M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense-$45.5M-$10.6M$3.9M-$6.3M-$1.1M-$15.9M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$58.7M$48.4M$71.5M$68.7M$73M$59M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other occupancy$1.6M——$1.5M$1.6M—
Direct Costs Of Leased And Rented Property Or Equipment$739.5M$783.9M$825.3M$868.4M$935.8M$1B
Distributions of earnings from equity method investees$4.7M$5.1M$9.9M$6.7M$7.3M$4.4M
Extinguishment Of Debt Gain Loss Net Of Tax-$15K$0$0-$119K-$53K-$449K
Gain on real estate dispositions$6.7M$169K$33.8M$1.3M$3.3M$15M
Loss from unconsolidated entities$7M-$3.3M-$1.1M$16.6M—-$7.4M
Accounts payable and other current liabilities—-$50.9M$42.3M$67.8M$21.8M-$27.6M
Increase Decrease In Interest Payable Net$30.6M-$36.5M—-$16.7M—-$29.2M
Increase (Decrease) in Other Operating Assets—-$36.2M-$15.4M$66M$16.2M-$10.7M
Interest income and other, net$8.3M$3.1M$5.9M$4.2M$7.9M$2.5M
Interest Income Operating—$4.3M—$5.5M—$4.1M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$956.2M-$149.1M$157M$366.1M$499.9M$90M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$1.5B-$883.7M-$204.4M-$1.2B-$428.7M-$1.1B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$373.6M$321.1M$475.3M$378.6M$471.7M$394.6M
Lease income — operating leases$373.6M$377.4M$373.5M$386.3M$359.5M$353.2M
Other Amortization Of Deferred Charges$7.8M$7.4M$6.7M$8.4M$9.8M$9.4M
Other expense (income)$12.4M$7.7M$7.7M$7.7M$7.7M—
Other Noncash Income (Expense)-$25.1M$4.2M-$1.5M-$11.2M-$3.2M$1.6M
Payments of Ordinary Dividends, Common Stock$189M$199M$217M$218.4M$225.7M$230.2M
Proceeds from Issuance of Common Stock$18M$876.5M$188.3M$999.5M$279.5M$799.3M
Issuance of debt$108M$29.7M$557.5M$19.7M$523.6M$289.5M
Financing — other—-$17.1M-$2.5M-$820K-$2.9M-$20.8M
Proceeds From Repayments Of Lines Of Credit-$952K-$6.6M—-$1.3M—$0
Proceeds From Sale Of Real Estate Heldforinvestment$53.7M$13.3M$135.8M$9.8M$54.4M$47.1M
Stock-based compensation$4.6M$18.8M$7.7M$5.9M$6.3M$24.8M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$1.3B$1.4B$1.4B$1.5B$1.6B$1.7B