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Welltower WELL Triple-net — Capital improvements to existing properties

Other segment segments

Seniors Housing Operating
$246.5M+12.4%
Outpatient Medical
$12.15M-21.4%

Similar metrics at other companies

American Healthcare REIT logo
AHRTriple Net Leased Properties — Capital Expenditures Incurred
$248K
American Healthcare REIT logo
AHRTriple Net Leased Properties — Total Assets
$393.01M-2.0%
Sabra Healthcare logo
SBRATriple-net portfolio — Operating Expenses
$3.77M+8.5%
American Healthcare REIT logo
AHRTriple Net Leased Properties — Operating Lease Lease Income
$10.17M-0.7%
American Healthcare REIT logo
AHRTriple Net Leased Properties — Utilities Food Repairs And Maintenance And Other Operating Expenses
$0
VTR
VTRTriple-Net Leased Properties — Property-level operating expenses
$2.9M-17.7%

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$175.31B+69.4%
Enterprise value$172.65B+71.9%

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 triple-net — capital improvements to existing properties?
Welltower (WELL) reported triple-net — capital improvements to existing properties of $11.18M in Q1 2026.
How has Welltower's triple-net — capital improvements to existing properties changed year-over-year?
Welltower's triple-net — capital improvements to existing properties increased by 98.3% year-over-year, from $5.64M to $11.18M.
What is the long-term trend for Welltower's triple-net — capital improvements to existing properties?
Over 3 years (2022 to 2025), Welltower's triple-net — capital improvements to existing properties has grown at a -6.4% compound annual growth rate (CAGR), from $48.05M to $39.36M.
What does triple-net — capital improvements to existing properties mean?
Represents the capital expenditures invested in maintaining or enhancing the physical condition and value of existing real estate assets within the triple-net lease portfolio. These investments are critical for extending the useful life of properties and ensuring they remain competitive in the healthcare real estate market.