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Welltower WELL Triple-net — Utilities

Other segment segments

Seniors Housing Operating
$121.59M+35.2%
Outpatient Medical
$3.33M-76.0%

Similar metrics at other companies

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CSRMultifamily — Utilities
$4.47M+8.1%
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NHIInvestments — Utilities
$0
Healthcare Realty Trust logo
HRUtilities — Totals
$21.04M-4.1%
STR
STRSLeasing operations — Utilities
$168K+320%
Service Properties Trust logo
SVCNet Lease — Real estate taxes and insurance
$2.11M+167%
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UTLUtilities
$161M+29.2%

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:UtilitiesOperatingExpense.

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 — utilities?
Welltower (WELL) reported triple-net — utilities of $83K in Q1 2026.
How has Welltower's triple-net — utilities changed year-over-year?
Welltower's triple-net — utilities decreased by 11.7% year-over-year, from $94K to $83K.
What is the long-term trend for Welltower's triple-net — utilities?
Over 3 years (2022 to 2025), Welltower's triple-net — utilities has grown at a -3.9% compound annual growth rate (CAGR), from $440K to $390K.
What does triple-net — utilities mean?
Represents the costs for electricity, water, gas, and other utility services for properties within the triple-net segment that are not directly paid by the tenant. These costs are often indicative of the landlord's responsibility under specific lease agreements.