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Welltower WELL Triple-net — Rental income

Similar metrics at other companies

American Healthcare REIT logo
AHRTriple Net Leased Properties — Operating Lease Lease Income
$10.17M-0.7%
American Healthcare REIT logo
AHRTriple Net Leased Properties — Revenue
$10.17M-0.7%
VTR
VTRNNN — Total rental income
$123.07M-21.2%
VTR
VTRNNN — Rental income
$123.07M-21.2%
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AHRTriple Net Leased Properties — Operating Income
$9.19M-0.9%
Sabra Healthcare logo
SBRATriple-net portfolio — Operating Expenses
$3.77M+8.5%

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:OperatingLeaseLeaseIncome.

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 — rental income?
Welltower (WELL) reported triple-net — rental income of $383.8M in Q1 2026.
How has Welltower's triple-net — rental income changed year-over-year?
Welltower's triple-net — rental income increased by 51.9% year-over-year, from $252.69M to $383.8M.
What is the long-term trend for Welltower's triple-net — rental income?
Over 4 years (2021 to 2025), Welltower's triple-net — rental income has grown at a 11.9% compound annual growth rate (CAGR), from $761.44M to $1.19B.
What does triple-net — rental income mean?
The primary revenue stream derived from lease agreements within the triple-net segment, where tenants are typically responsible for property-level expenses. This is the core indicator of the segment's recurring cash flow generation.