Welltower (WELL): financials, SEC filings and peers
Welltower (WELL) is a health care reits company in the Real Estate sector of the S&P 500, headquartered in Toledo, Ohio.
It was founded in 1970 and joined the S&P 500 on January 30, 2009.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Real Estate Investment Trusts”.
Welltower at a glance
- Revenue (12 months)
- $13.8B
- Revenue growth
- +39.2%
- Operating margin
- —
- Net income (12 months)
- $1.7B
- Free cash flow (12 months)
- —
- Cash
- $2.3B
- Debt
- $18.2B
- Diluted EPS (12 months)
- $2.30
Twelve months to September 30, 2026, from the 10-Q filed October 27, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Welltower reported revenue of $13.8 billion, up a strong 39.2% from $9.9 billion a year earlier.
Net income was $1.7 billion (12.7% of revenue), 80.6% higher than a year earlier.
At the end of the period it held $2.3 billion in cash and $18.2 billion in debt, a net debt position of $15.9 billion.
The diluted share count rose 10.1% in a year, which dilutes existing shareholders.
Five-year trend
- Revenue went from $4.6 billion in fiscal 2020 to $10.8 billion in fiscal 2025, about 18.7% a year.
- Revenue has grown for 5 fiscal years in a row.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.7B | $5.9B | $6.6B | $8.0B | $10.8B |
| Revenue growth | 3.0% | 23.6% | 13.3% | 20.4% | 35.6% |
| Operating margin | — | — | — | — | — |
| Net income | $374M | $161M | $358M | $973M | $962M |
| Free cash flow | — | — | — | — | — |
| Diluted EPS | $0.78 | $0.30 | $0.66 | $1.57 | $1.39 |
Fiscal years as reported in Welltower’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 8-K filed October 27, 2026 — Other event
- 10-Q filed October 27, 2026 — quarterly report
- 8-K filed October 26, 2026 — Earnings results; Regulation FD disclosure
- 8-K filed July 28, 2026 — Other event
- 10-Q filed July 28, 2026 — quarterly report
- 8-K filed July 27, 2026 — Earnings results
- 8-K filed July 13, 2026 — Other event
- 8-K filed June 1, 2026 — Regulation FD disclosure
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Questions about Welltower
Is Welltower's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $13.8 billion, up 39.2% from a year earlier, according to its SEC filings.
Is Welltower profitable?
Yes. It earned $1.7 billion in net income over the twelve months to September 30, 2026, a net margin of 12.7%.
Does Welltower have more cash or more debt?
At September 30, 2026 it had $2.3 billion in cash and $18.2 billion in debt, so more debt than cash.
When did Welltower last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 27, 2026.
Which companies are similar to Welltower?
In the S&P 500, Welltower is grouped in Health Care REITs within the Real Estate sector. Healthpeak Properties (DOC), Ventas (VTR) are in the same group.
Understand the numbers
Source: Welltower’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.