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Welltower WELL Triple-net — Land and land improvements

Other segment segments

Seniors Housing Operating
$104.86M-40.8%
Outpatient Medical
$40K-99.8%

Similar metrics at other companies

American Healthcare REIT logo
AHRTriple Net Leased Properties — Total Assets
$393.01M-2.0%
American Healthcare REIT logo
AHRTriple Net Leased Properties — Capital Expenditures Incurred
$248K
W.P. Carey Inc. logo
WPCLand, buildings and improvements — net lease and other
$14.62B+28,408%
American Healthcare REIT logo
AHRTriple Net Leased Properties — Labor And Related Expense
$0
American Healthcare REIT logo
AHRTriple Net Leased Properties — Operating Lease Lease Income
$10.17M-0.7%
American Healthcare REIT logo
AHRTriple Net Leased Properties — Goodwill
$18.95M0.0%

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:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand.

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 — land and land improvements?
Welltower (WELL) reported triple-net — land and land improvements of $20.88M in Q1 2026.
How has Welltower's triple-net — land and land improvements changed year-over-year?
Welltower's triple-net — land and land improvements decreased by 76.3% year-over-year, from $88.25M to $20.88M.
What is the long-term trend for Welltower's triple-net — land and land improvements?
Over 4 years (2021 to 2025), Welltower's triple-net — land and land improvements has grown at a 53.5% compound annual growth rate (CAGR), from $191.94M to $1.06B.
What does triple-net — land and land improvements mean?
Represents the book value of land and associated site improvements specifically allocated to the triple-net lease property segment. This asset class reflects the underlying real estate value that is not subject to depreciation, excluding the structures themselves.