Investing
CapEx
Welltower CapEx increased by 19.4% to $313.98M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 1.5%, from $318.79M to $313.98M. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 38.8% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
Metric ID:
cf_capital_expendituresHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $65.70M | $71.21M | $116.90M | $90.23M | $109.84M | $115.77M | $160.18M | $91.34M | $113.64M | $129.11M | $183.59M | $132.51M | $165.09M | $241.15M | $318.79M | $240.35M | $232.88M | $263.06M | $313.98M |
| QoQ Change | — | +8.4% | +64.2% | -22.8% | +21.7% | +5.4% | +38.4% | -43.0% | +24.4% | +13.6% | +42.2% | -27.8% | +24.6% | +46.1% | +32.2% | -24.6% | -3.1% | +13.0% | +19.4% |
| YoY Change | — | — | — | — | +67.2% | +62.6% | +37.0% | +1.2% | +3.5% | +11.5% | +14.6% | +45.1% | +45.3% | +86.8% | +73.6% | +81.4% | +41.1% | +9.1% | -1.5% |
Range$65.70M – $318.79M
CAGR+41.6%
Avg YoY Growth+38.6%
Median YoY Growth+41.1%
Current Streak2 quarters growth
CapEx at Other Companies
Frequently Asked Questions
- What is Welltower's capex?
- Welltower (WELL) reported capex of $313.98M in Q4 2025.
- How has Welltower's capex changed year-over-year?
- Welltower's capex decreased by 1.5% year-over-year, from $318.79M to $313.98M.
- What is the long-term trend for Welltower's capex?
- Over 4 years (2021 to 2025), Welltower's capex has grown at a 38.8% compound annual growth rate (CAGR), from $282.59M to $1.05B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.