balance equationreview2026-03-31
Difference 196411000 exceeds tolerance 67220556.000. Presentation or filing-vintage differences need review.
Revenue
$3.35B
Fiscal year ended 2026-03-31Operating income
Unavailable
Fiscal year ended 2026-03-31Free cash flow
Unavailable
Fiscal year ended 2026-03-31WELLTOWER INC. (WELL) reported revenue of $3.35B for the fiscal year ended 2026-03-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from WELLTOWER INC.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Real Estate Investment Trusts.
Income
| Metric | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.35B | $2.56B | $2.69B | $2.55B | $2.42B | $1.76B | $2.06B | $1.82B | $1.86B | $1.26B |
| Cost of revenue | $2.06B | $1.93B | $1.58B | $1.51B | $1.46B | $1.41B | $1.21B | $1.11B | $1.10B | $1.04B |
| Gross profit | $1.30B | $622.12M | $1.11B | $1.03B | $960.70M | $352.58M | $842.96M | $713.59M | $762.83M | $226.78M |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 726.26M | Unavailable | shares 685.40M | shares 668.14M | shares 653.80M | Unavailable | shares 618.31M | shares 604.56M | shares 577.53M | Unavailable |
| Pretax income | $345.24M | Unavailable | $293.11M | $298.21M | $198.71M | $109.24M | $183.87M | $90.43M | $140.90M | $87.46M |
| Income tax expense | $11.63M | -$4.98M | $2.34M | $1.05M | -$5.52M | $114.00K | -$4.71M | $1.10M | $6.19M | -$4.77M |
| Diluted EPS | $1.02 | Unavailable | $0.41 | $0.45 | $0.40 | Unavailable | $0.73 | $0.42 | $0.22 | Unavailable |
| Selling, general & administrative | $67.47M | $1.56B | $63.12M | $64.18M | $63.76M | $48.71M | $77.90M | $55.56M | $53.32M | $44.33M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.70B | $5.03B | $6.81B | $4.41B | $3.50B | $3.51B | $3.56B | $2.78B | $2.39B | $1.99B |
| Total assets | $67.22B | $67.30B | $59.50B | $55.83B | $53.29B | $51.04B | $48.95B | $45.53B | $44.55B | $44.01B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $22.29B | $24.10B | $20.19B | $19.29B | $18.71B | $18.47B | $17.89B | $15.85B | $16.01B | $17.64B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $44.73B | $42.94B | $39.03B | $36.26B | $34.30B | $32.32B | $30.79B | $29.43B | $28.25B | $26.08B |
| Temporary (mezzanine) equity | Unavailable | $263.22M | Unavailable | Unavailable | Unavailable | $256.22M | Unavailable | Unavailable | Unavailable | $290.60M |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $284.21M | $251.06M | $608.68M | $230.28M | $221.74M | $222.54M | $247.42M | $347.62M | $338.46M | $330.12M |
| Goodwill | $342.91M | $346.32M | $205.60M | $208.48M | $200.20M | $149.22M | $68.32M | $68.32M | $68.32M | $68.32M |
| Long-term debt | $17.93B | $19.20B | $16.85B | $15.97B | $15.72B | $15.50B | $15.76B | $13.94B | $14.21B | $15.74B |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $670.01M | $654.33M | $858.36M | $770.03M | $598.96M | $559.21M | $684.98M | $605.42M | $406.81M | $370.50M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | -$807.19M | -$5.46B | -$1.63B | -$1.40B | -$2.03B | -$2.21B | -$1.45B | -$1.28B | -$580.93M | -$3.14B |
| Financing cash flow | -$199.54M | $3.03B | $3.24B | $1.42B | $1.31B | $1.59B | $1.68B | $1.06B | $578.57M | $2.14B |
| Net change in cash | -$390.25M | -$1.73B | $2.42B | $913.23M | -$101.17M | -$72.95M | $920.81M | $385.26M | $402.25M | -$610.63M |
| Stock-based compensation | $18.83M | $1.51B | $15.59M | $15.26M | $17.50M | $13.51M | $39.91M | $10.35M | $12.05M | $8.42M |
| Common dividends paid | $520.35M | $509.71M | $497.19M | $439.35M | $431.04M | $418.46M | $409.12M | $366.18M | $352.53M | $338.29M |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $622.75M | $594.15M | $509.81M | $495.04M | $485.87M | $480.41M | $403.78M | $382.04M | $365.86M | $380.73M |
Derived
| Metric | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | 38.7% | 24.3% | 41.3% | 40.6% | 39.6% | 20.0% | 41.0% | 39.1% | 41.0% | 18.0% |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 0.6% | 59.0% | 0.6% | 0.6% | 0.7% | 0.8% | 1.9% | 0.6% | 0.6% | 0.7% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | 38.3% | 45.1% | 30.6% | 39.6% | 30.3% | 39.5% | 23.7% | 9.6% | 19.2% | -16.8% |
| Net margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 0.40x | Unavailable | 0.43x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 3.4% | Unavailable | 0.8% | 0.4% | -2.8% | Unavailable | -2.6% | 1.2% | 4.4% | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open WELL in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-04-29View SEC filing
10-K · Filed 2026-02-12View SEC filing
10-Q · Filed 2025-10-28View SEC filing
10-Q · Filed 2025-07-29View SEC filing
10-Q · Filed 2025-04-29View SEC filing
10-K · Filed 2025-02-12View SEC filing
Reconciliation checks needing review
12 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
balance equationreview2025-09-30
Difference 284364000 exceeds tolerance 59504802.000. Presentation or filing-vintage differences need review.
balance equationreview2025-06-30
Difference 283187000 exceeds tolerance 55833495.000. Presentation or filing-vintage differences need review.
balance equationreview2025-03-31
Difference 277461000 exceeds tolerance 53293614.000. Presentation or filing-vintage differences need review.
balance equationreview2024-09-30
Difference 270182000 exceeds tolerance 48953698.000. Presentation or filing-vintage differences need review.
balance equationreview2024-06-30
Difference 262273000 exceeds tolerance 45533937.000. Presentation or filing-vintage differences need review.
balance equationreview2024-03-31
Difference 300915000 exceeds tolerance 44553585.000. Presentation or filing-vintage differences need review.
balance equationreview2023-09-30
Difference 244793000 exceeds tolerance 41654702.000. Presentation or filing-vintage differences need review.
balance equationreview2023-06-30
Difference 369191000 exceeds tolerance 40064135.000. Presentation or filing-vintage differences need review.
balance equationreview2023-03-31
Difference 392195000 exceeds tolerance 38493889.000. Presentation or filing-vintage differences need review.
balance equationreview2022-09-30
Difference 400965000 exceeds tolerance 37414488.000. Presentation or filing-vintage differences need review.
balance equationreview2022-06-30
Difference 420018000 exceeds tolerance 36573671.000. Presentation or filing-vintage differences need review.