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 | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended 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.
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.