Welltower Past Earnings Performance

Past criteria checks 2/6

Welltower has been growing earnings at an average annual rate of 35.7%, while the Health Care REITs industry saw earnings growing at 8.9% annually. Revenues have been growing at an average rate of 20.3% per year. Welltower's return on equity is 3.4%, and it has net margins of 12.1%.

Key information

35.68%

Earnings growth rate

23.89%

EPS growth rate

Health Care REITs Industry Growth	36.30%
Revenue growth rate	20.33%
Return on equity	3.39%
Net Margin	12.15%
Last Earnings Update	30 Jun 2026

Recent past performance updates

No updates

Recent updates

Revenue & Expenses Breakdown

How Welltower makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

BASE:WELL Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
30 Jun 26	12,763	1,551	1,755
31 Mar 26	11,767	1,408	1,752
31 Dec 25	10,838	937	1,748
30 Sep 25	9,908	960	240
30 Jun 25	9,278	1,130	255
31 Mar 25	8,554	1,082	246
31 Dec 24	7,991	952	235
30 Sep 24	7,490	916	231
30 Jun 24	7,031	593	199
31 Mar 24	6,872	442	188
31 Dec 23	6,573	340	179
30 Sep 23	6,283	252	176
30 Jun 23	6,160	118	165
31 Mar 23	5,973	105	157
31 Dec 22	5,861	141	150
30 Sep 22	5,619	204	142
30 Jun 22	5,385	390	140
31 Mar 22	5,053	327	135
31 Dec 21	4,737	336	127
30 Sep 21	4,555	441	121
30 Jun 21	4,352	587	120
31 Mar 21	4,393	740	123
31 Dec 20	4,587	979	128
30 Sep 20	4,747	1,039	127
30 Jun 20	4,976	1,304	127
31 Mar 20	5,108	1,262	127
31 Dec 19	5,121	1,232	127
30 Sep 19	5,100	1,110	131
30 Jun 19	5,070	584	129
31 Mar 19	4,865	601	128
31 Dec 18	4,700	758	126
30 Sep 18	4,553	545	124
30 Jun 18	4,408	555	125
31 Mar 18	4,351	589	125
31 Dec 17	4,317	464	122
30 Sep 17	4,291	908	126
30 Jun 17	4,278	1,169	133
31 Mar 17	4,296	1,176	141
31 Dec 16	4,281	1,012	155
30 Sep 16	4,232	812	159
30 Jun 16	4,132	659	159
31 Mar 16	4,013	777	158
31 Dec 15	3,860	818	147
30 Sep 15	3,698	874	158

Quality Earnings: WELL has a large one-off gain of $1.8B impacting its last 12 months of financial results to 30th June, 2026.

Growing Profit Margin: WELL's current net profit margins (12.1%) are lower than last year (12.2%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: WELL's earnings have grown significantly by 35.7% per year over the past 5 years.

Accelerating Growth: WELL's earnings growth over the past year (37.3%) exceeds its 5-year average (35.7% per year).

Earnings vs Industry: WELL earnings growth over the past year (37.3%) did not outperform the Health Care REITs industry 54.9%.

Return on Equity

High ROE: WELL's Return on Equity (3.4%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/17 04:42
End of Day Share Price	2026/09/17 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Welltower Inc. is covered by 48 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Amanda Sweitzer	Baird
David Rodgers	Baird
Bryan Sekino	Barclays