Welltower WELL Triple-net — Net Operating Income

Other segment segments

Similar metrics at other companies

AHRTriple Net Leased Properties — Operating Income

$9.19M-0.9%

SBRATriple-net portfolio — Operating Expenses

$3.77M+8.5%

AHRTriple Net Leased Properties — Operating Lease Lease Income

$10.17M-0.7%

VTR

VTRNNN — NOI

$120.17M-21.2%

VTR

VTRTriple-Net Leased Properties — Property-level operating expenses

$2.9M-17.7%

AHRTriple Net Leased Properties — Operating Lease Expense

$0—

Questions, answered.

What is Welltower's triple-net — net operating income?

Welltower (WELL) reported triple-net — net operating income of $192.55M in Q2 2026.

How has Welltower's triple-net — net operating income changed year-over-year?

Welltower's triple-net — net operating income decreased by 27.4% year-over-year, from $265.1M to $192.55M.

What is the long-term trend for Welltower's triple-net — net operating income?

Over 4 years (2021 to 2025), Welltower's triple-net — net operating income has grown at a 8.5% compound annual growth rate (CAGR), from $841.12M to $1.16B.

What does triple-net — net operating income mean?

Calculated as total segment revenues minus property operating expenses, this metric measures the core profitability of the triple-net portfolio. It excludes corporate-level expenses, interest, and taxes to focus on property-level performance.