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Welltower WELL Triple-net — Resident fees and services

Other segment segments

Seniors Housing Operating
$2.79B+49.4%
Outpatient Medical
$71.13M-66.3%

Similar metrics at other companies

Sabra Healthcare logo
SBRATriple-net portfolio — Operating Expenses
$3.77M+8.5%
American Healthcare REIT logo
AHRTriple Net Leased Properties — Revenue
$10.17M-0.7%
American Healthcare REIT logo
AHRTriple Net Leased Properties — Percentage Of Annual Base Rent
6%-1.7pp
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
VTRNNN — Total rental income
$123.07M-21.2%

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:Revenues.

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 — resident fees and services?
Welltower (WELL) reported triple-net — resident fees and services of $392.11M in Q1 2026.
How has Welltower's triple-net — resident fees and services changed year-over-year?
Welltower's triple-net — resident fees and services increased by 53.8% year-over-year, from $255.03M to $392.11M.
What is the long-term trend for Welltower's triple-net — resident fees and services?
Over 4 years (2021 to 2025), Welltower's triple-net — resident fees and services has grown at a 7.7% compound annual growth rate (CAGR), from $890.58M to $1.2B.
What does triple-net — resident fees and services mean?
Revenue generated from services provided to residents within the triple-net portfolio, distinct from base rental income. This captures the ancillary income streams associated with healthcare property operations.