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Welltower WELL Q4 2025 Annual earnings

Reported February 10, 2026 · After market close

Revenue$3.2BBeat by $323.0M
EPS$1.13Beat by $0.54
Revenue estimate$2.9B
EPS estimate$0.59

Next report

Oct 26, 2026 (in 2 months)
Revenue estimate$3.6B
EPS estimate$0.62

Financials

Q4 2025

Income statement

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Revenue$3.2B+41.3%
Gross profit$1.2B+48.2%
Net income$117.8M-4.8%
EPS (diluted)$0.13-27.8%

Balance sheet

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Cash & equivalents$5.0B+43.5%
Total debt$2.2B+73.5%
Total equity$42.1B+31.8%
Total assets$67.3B+31.9%

Cash flow

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Operating cash flow$654.3M+17.0%
CapEx$314.0M-1.5%
Free cash flow$340.4M+41.6%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$127.39B+62.3%
Enterprise value$124.54B+63.4%
P/E132.4×+51.8×
P/S11.8×+1.9×

Profitability

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Gross margin40.1%+0.6pp
Net margin8.9%-3.3pp
FCF margin16.9%-0.6pp

Returns & leverage

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Return on equity2.6%-0.8pp
Debt / equity0.1×0.0×

Segments

By geography

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United States$2.1B+18.2%
United Kingdom$926.5M+148%
Canada$196.1M+43.8%

By segment

See full
Triple-net$381.6M+95.6%
Outpatient Medical$143.9M-28.6%

FAQ

When did Welltower report Q4 2025 earnings?
Welltower (WELL) reported Q4 2025 earnings on February 10, 2026 after market close.
What were Welltower's Q4 2025 revenue and EPS?
Welltower reported revenue of $3.2B and eps of $1.13 for Q4 2025.
Did Welltower beat estimates in Q4 2025?
Revenue beat the consensus estimate of $2.9B by $323.0M. EPS beat the consensus estimate of $0.59 by $0.54.
How did Welltower's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 43.3% from $2.2B a year earlier and eps grew 0.0% from $1.13.
Where can I find Welltower's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000766704-26-000005) and the 10-K periodic report (0000766704-26-000010) directly on SEC EDGAR. The filing index links above go to sec.gov.