--- title: "Welltower: Metrics Guide" description: "Welltower revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios computed and explained." canonical: https://www.getswoopr.com/stocks/companies/welltower/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Welltower: Financial & Operating Metrics Guide ## Direct Answer Welltower reported revenue of $10.8 billion for the fiscal year ended December 31, 2025, net income of $937 million, according to its SEC filings. Revenue grew 35.6% from the prior year. ## What Are Welltower's Key Financial Figures? | Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $10.8 billion | $8.0 billion | $6.6 billion | $5.9 billion | | Operating income | Not reported | Not reported | Not reported | Not reported | | Operating margin | n/a | n/a | n/a | n/a | | Net income | $937 million | $952 million | $340 million | $141 million | | Net margin | 8.6% | 11.9% | 5.1% | 2.4% | | Operating cash flow | $2.9 billion | $2.3 billion | $1.6 billion | $1.3 billion | | Capital expenditures | $1.1 billion | $858 million | $518 million | $476 million | | Free cash flow | $1.8 billion | $1.4 billion | $1.1 billion | $853 million | Free cash flow (operating cash flow minus capital expenditures) was $1.8 billion against net income of $937 million; cash generation covered reported earnings. ![Bar chart of Welltower revenue, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $10.8 billion and net income $937 million.](https://www.getswoopr.com/images/charts/welltower-metrics-revenue-profit.webp) *Welltower revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of Welltower net margin for fiscal 2022 to 2025. In fiscal 2025, net margin was 8.6%.](https://www.getswoopr.com/images/charts/welltower-metrics-margins.webp) *Welltower operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of Welltower operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $2.9 billion, capital expenditures was $1.1 billion, free cash flow was $1.8 billion.](https://www.getswoopr.com/images/charts/welltower-metrics-cash-flow.webp) *Welltower operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does Welltower's Balance Sheet Show? | Cash and cash equivalents | $5.0 billion | | --- | --- | | Long-term debt | $19.2 billion | | Total assets | $67.3 billion | | Total liabilities | $24.1 billion | | Shareholders' equity | $42.1 billion | | Current ratio | n/a | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value Welltower reported in its own SEC filings, read from the SEC's XBRL data (accession 0000766704-26-000010 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was Welltower's revenue in fiscal 2025? Welltower reported revenue of $10.8 billion for the fiscal year ended December 31, 2025, according to its SEC filings. ### What is Welltower's operating margin? Welltower did not report operating income under the standard tag for fiscal 2025, so Swoopr does not compute an operating margin; the income statement in its 10-K shows how it presents profit. ### How much free cash flow did Welltower generate? Operating cash flow of $2.9 billion less capital expenditures of $1.1 billion gives free cash flow of $1.8 billion for fiscal 2025. ## References - [SEC EDGAR: WELLTOWER INC. Form 10-K filed February 12, 2026](https://www.sec.gov/Archives/edgar/data/766704/000076670426000010/well-20251231.htm) - [SEC EDGAR: WELLTOWER INC. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=766704&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Welltower company dossier](https://www.getswoopr.com/stocks/companies/welltower/) - [Welltower financial metrics](https://www.getswoopr.com/stocks/companies/welltower/metrics/) - [Welltower financial risk indicators](https://www.getswoopr.com/stocks/companies/welltower/risks/) - [Welltower peer comparison](https://www.getswoopr.com/stocks/companies/welltower/competitors/) - [Welltower business model and revenue mix](https://www.getswoopr.com/stocks/companies/welltower/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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