Welltower Inc. (WELL) — Financial statements
Income statement, balance sheet, and cash flow for Welltower Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 10,667↑35.8% | 7,854↑21.2% | 6,478↑12.2% | 5,776↑22.6% | 4,709 | |
| Cost of Revenue | 6,488↑34.3% | 4,830↑22.4% | 3,948↑10.9% | 3,559↑28.3% | 2,775 | |
| Gross Profit | 4,179↑38.2% | 3,023↑19.5% | 2,530↑14.1% | 2,217↑14.6% | 1,935 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 1,748↑642.5% | 235↑31.5% | 179↑19.1% | 150↑18.7% | 127 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 1,748↑642.5% | 235↑31.5% | 179↑19.1% | 150↑18.7% | 127 | |
| Other Expenses | 2,075↑26.4% | 1,642↑16.4% | 1,411↑6.8% | 1,321↑26.4% | 1,045 | |
| Operating Expenses | 3,824↑103.6% | 1,878↑18.1% | 1,590↑8.1% | 1,471↑25.6% | 1,172 | |
| Total Costs & Expenses | 10,312↑53.7% | 6,708↑21.1% | 5,538↑10.1% | 5,030↑27.5% | 3,946 | |
| Operating Results | ||||||
| Operating Income | 355↓69.0% | 1,146↑21.8% | 940↑26.0% | 746↓2.2% | 763 | |
| Depreciation & Amortization | 2,139↑27.3% | 1,680↑16.4% | 1,443↑8.0% | 1,337↑26.9% | 1,053 | |
| EBITDA | 2,310↓16.8% | 2,778↑15.7% | 2,401↑17.7% | 2,039↑19.0% | 1,714 | |
| EBIT | 172↓84.4% | 1,099↑14.7% | 958↑36.3% | 703↑6.4% | 661 | |
| Interest & Other Income | ||||||
| Net Interest Income | -652↓13.5% | -574↑5.5% | -608↓14.8% | -530↓8.1% | -490 | |
| Interest Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Interest Expense | 652↑13.5% | 574↓5.5% | 608↑14.8% | 530↑8.1% | 490 | |
| Non-Operating Income | 183↑289.9% | 47↑369.5% | -17↓140.0% | 44↓57.5% | 103 | |
| Other Income / Expenses | 600↑452.4% | -170↑70.5% | -576↑0.4% | -578↓52.1% | -380 | |
| Income Before Tax | 955↓2.1% | 976↑167.6% | 365↑117.2% | 168↓56.2% | 383 | |
| Income Tax Expense | -7↓363.6% | 3↓57.6% | 6↓12.2% | 7↓16.8% | 9 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 962↓1.1% | 973↑171.6% | 358↑123.0% | 161↓57.1% | 374 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 937↓1.6% | 952↑179.8% | 340↑140.8% | 141↓58.0% | 336 | |
| Bottom-Line Net Income | 944↓1.0% | 953↑180.6% | 340↑140.3% | 141↓57.6% | 333 | |
| EPS (Basic) | 1.41↓10.8% | 1.58↑139.4% | 0.66↑112.9% | 0.31↓60.8% | 0.79 | |
| EPS (Diluted) | 1.39↓11.5% | 1.57↑137.9% | 0.66↑120.0% | 0.30↓61.5% | 0.78 | |
| Weighted Average Shares | 666↑10.4% | 603↑16.9% | 516↑11.6% | 462↑8.8% | 425 | |
| Weighted Average Diluted Shares | 680↑11.6% | 609↑17.4% | 519↑11.5% | 465↑9.0% | 427 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.