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Welltower WELL Outpatient Medical — Capital improvements to existing properties

Other segment segments

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$246.5M+12.4%
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$11.18M+98.3%

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DOCOutpatient medical — Repairs and maintenance
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ELSProperty Operations — Capital improvements
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THCHospital Operations — CapEx
$148M0.0%

Other financials

Income statement

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Revenue$3.4B+38.3%
Gross profit$1.3B+35.0%
Net income$752.3M+192%
EPS (diluted)$0.61+35.6%

Balance sheet

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Cash & equivalents$4.7B+34.3%
Total debt$2.1B+59.5%
Total equity$43.8B+29.0%
Total assets$67.2B+26.1%

Cash flow

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Operating cash flow$670.0M+11.9%
CapEx$269.8M+12.3%
Free cash flow$400.2M+11.6%

Valuation

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Market cap$177.94B+71.9%
Enterprise value$175.29B+74.5%

Profitability

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Gross margin39.8%+0.6pp
Net margin12.4%-0.5pp
FCF margin15.9%-1.4pp

Returns & leverage

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Return on equity3.7%+0.2pp
Debt / equity0.0×

Where this comes from

Reported directly by Welltower in its filing.

Tagged under the XBRL concept us-gaap:PaymentsForCapitalImprovements.

The official record: Welltower’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Welltower's outpatient medical — capital improvements to existing properties?
Welltower (WELL) reported outpatient medical — capital improvements to existing properties of $12.15M in Q1 2026.
How has Welltower's outpatient medical — capital improvements to existing properties changed year-over-year?
Welltower's outpatient medical — capital improvements to existing properties decreased by 21.4% year-over-year, from $15.47M to $12.15M.
What is the long-term trend for Welltower's outpatient medical — capital improvements to existing properties?
Over 3 years (2022 to 2025), Welltower's outpatient medical — capital improvements to existing properties has grown at a -0.6% compound annual growth rate (CAGR), from $75.87M to $74.44M.
What does outpatient medical — capital improvements to existing properties mean?
Represents the cash expenditures directed toward maintaining, renovating, or upgrading existing outpatient medical real estate assets. These investments are essential for preserving property value, extending useful life, and meeting modern healthcare facility standards.