Where do Welltower's ratios come from?

Every ratio is computed from Welltower's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Welltower WELL Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	159.4%+0.6pp	158.9%+0.6pp	158.3%-0.7pp	159%-0.6pp	159.6%-1.8pp
Net margin	43.3%-0.5pp	43.8%-3.3pp	47.1%-2.7pp	49.8%+3.6pp	46.2%+6.2pp
Free cash flow margin	67.3%-1.4pp	68.7%-0.6pp	69.3%-0.5pp	69.8%0.0pp	69.9%+1.9pp
Returns
Return on equity	12.7%+0.2pp	12.5%-0.8pp	13.3%-0.7pp	14%+1.1pp	12.9%+1.7pp
Return on assets	8.1%+0.2pp	7.9%-0.4pp	8.3%-0.3pp	8.6%+0.8pp	7.8%+1.1pp
Efficiency
Asset turnover	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×
Leverage
Debt-to-equity	0.2×0.0×	0.2×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Per Share
Book value per share	$232.58+3.7%	$224.22+4.4%	$214.71+3.6%	$207.23+2.9%	$201.42+2.1%
Valuation
Market capitalization	$485.36B+8.6%	$446.75B+12.3%	$397.84B+11.5%	$356.68B+12.1%	$318.14B+17.0%
Enterprise value	$471.29B+8.8%	$433.11B+12.6%	$384.8B+11.2%	$345.97B+12.3%	$308.12B+17.5%
Price / earnings	438.5×+4.3×	434.3×+51.8×	382.5×+39.9×	342.6×-13.0×	355.6×-24.8×
Price / sales	46.4×+0.1×	46.3×+1.9×	44.3×+1.6×	42.7×+2.1×	40.6×+4.0×
Price / book	12.1×+0.2×	11.8×+0.6×	11.3×+0.5×	10.8×+0.7×	10.1×+1.0×
EV / sales	45×+0.1×	44.9×+2.0×	42.9×+1.5×	41.4×+2.1×	39.3×+4.0×
Free cash flow yield	5.8%-0.1pp	6%-0.3pp	6.3%-0.3pp	6.6%-0.4pp	6.9%-0.5pp
Earnings yield	3.8%0.0pp	3.8%-0.5pp	4.3%-0.4pp	4.7%+0.1pp	4.5%+0.2pp
Dividend yield	6.1%-0.2pp	6.3%-0.5pp	6.8%-0.4pp	7.2%-0.5pp	7.7%-0.8pp

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Where do Welltower's ratios come from?: Every ratio is computed from Welltower's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.