Business Segments · Property operating expenses
Triple Net — Property operating expenses
Welltower Triple Net — Property operating expenses decreased by 8.4% to $7.53M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 25.2%, from $10.07M to $7.53M. Over 4 years (FY 2021 to FY 2025), Triple Net — Property operating expenses shows a downward trend with a -9.5% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementSegment
CategoryEfficiency
SignalLower is better
VolatilityStable
First reportedQ1 2017
Last reportedQ4 2025
Rolls up toTotal Cost of Revenue
How to read this metric
An increase may signal rising non-recoverable costs or portfolio expansion, while a decrease suggests improved cost-recovery efficiency.
Detailed definition
Aggregates the direct costs incurred to operate and maintain properties within the triple-net segment. In a true triple-...
Peer comparison
Standard REIT metric; peers report this to show the net impact of property-level operations.
Metric ID:
well_segment_triple_net_property_operating_expensesHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $12.63M | $11.66M | $12.33M | $11.21M | $11.49M | $11.50M | $10.29M | $11.72M | $10.60M | $10.04M | $9.83M | $10.82M | $10.50M | $9.35M | $10.07M | $8.82M | $8.65M | $8.23M | $7.53M |
| QoQ Change | — | -7.6% | +5.7% | -9.1% | +2.5% | +0.0% | -10.5% | +14.0% | -9.6% | -5.2% | -2.1% | +10.1% | -3.0% | -11.0% | +7.7% | -12.4% | -1.9% | -4.9% | -8.4% |
| YoY Change | — | — | — | — | -9.0% | -1.4% | -16.6% | +4.6% | -7.8% | -12.6% | -4.4% | -7.7% | -1.0% | -7.0% | +2.4% | -18.5% | -17.6% | -12.0% | -25.2% |
Range$7.53M – $12.63M
CAGR-10.8%
Avg YoY Growth-8.9%
Median YoY Growth-7.8%
Current Streak4 quarters decline
Similar Metrics at Other Companies
Frequently Asked Questions
- What is Welltower's triple net — property operating expenses?
- Welltower (WELL) reported triple net — property operating expenses of $7.53M in Q4 2025.
- How has Welltower's triple net — property operating expenses changed year-over-year?
- Welltower's triple net — property operating expenses decreased by 25.2% year-over-year, from $10.07M to $7.53M.
- What is the long-term trend for Welltower's triple net — property operating expenses?
- Over 4 years (2021 to 2025), Welltower's triple net — property operating expenses has grown at a -9.5% compound annual growth rate (CAGR), from $49.46M to $33.23M.
- What does triple net — property operating expenses mean?
- Total operating costs associated with managing properties in the triple-net segment.