Welltower Past Earnings Performance
Past criteria checks 3/6
Welltower has been growing earnings at an average annual rate of 28.1%, while the Health Care REITs industry saw earnings growing at 8.7% annually. Revenues have been growing at an average rate of 19.1% per year. Welltower's return on equity is 3.2%, and it has net margins of 12%.
Key information
28.12%
Earnings growth rate
15.03%
EPS growth rate
| Health Care REITs Industry Growth | -12.20% |
| Revenue growth rate | 19.15% |
| Return on equity | 3.24% |
| Net Margin | 11.96% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Welltower: A Premium REIT At An Overextended Price
May 01
WELL: Data Science Partnership And 2026 Guidance Will Support Balanced Outlook
Analysts have made a small adjustment to Welltower's price target to $229.25. This reflects updated views on fair value, discount rate assumptions, profit margin expectations, and a revised future P/E estimate.
WELL: Data Partnership And Higher Margins Will Support Future Upside Potential
Analysts now see Welltower's fair value at $260.00, compared with $251.51 previously. This reflects their updated views on growth, margins, discount rate and future P/E assumptions.WELL: Data Science Alliance And 2026 Earnings Outlook Will Support Future Upside
Analysts have raised their price target for Welltower from $228.10 to $229.30, reflecting updated assumptions related to discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News Welltower and Public Storage announced a data science partnership that combines Welltower's capital allocation models with Public Storage's operational and pricing analytics to support more targeted real estate investments and operations (Key Developments).WELL: 2026 Earnings Outlook And Data Partnership Will Shape Future Income
Analysts have raised their price target on Welltower to $228.10 from $218.80, reflecting updated assumptions that include a slightly lower discount rate, a modest adjustment to revenue growth expectations, firmer profit margin inputs near 14%, and a higher future P/E of about 98x. What's in the News Welltower and Public Storage announced a data science partnership that combines Welltower's capital allocation modeling with Public Storage's operational analytics to support capital deployment and operating decisions across both businesses (Key Developments).
Leveraging the Senior Housing Supply Gap
Business Overview Welltower is one of the largest healthcare real estate investment trusts globally, with a market capitalization of approximately US$145 billion. The company owns a diversified portfolio of senior housing communities, outpatient medical facilities and post-acute care properties across the United States, Canada and the United Kingdom.
WELL: Medium Term Guidance And Updated Assumptions Will Shape Fair Value
Analysts have lifted their price target for Welltower from about $145 to roughly $191, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, which together support a higher long term valuation framework. What's in the News Welltower issued earnings guidance for the year ending December 31, 2026, giving investors a frame of reference for its medium term outlook.WELL: 2026 Earnings Outlook And Higher Fair Value Will Shape Future Income
Analysts now set their price target for Welltower at $218.80, up from $207.38. This reflects updated views on revenue growth, profit margins and future P/E assumptions.WELL: Higher Profitability Assumptions Will Support Future Upside Potential
Analysts have raised their fair value estimate for Welltower to $251.51, citing slightly higher assumptions for revenue growth, profit margins, the discount rate, and future P/E as the basis for the updated price target. Valuation Changes Fair Value Estimate was adjusted from $248.75 to $251.51, reflecting a small upward revision in the modeled valuation.WELL: Expanded Equity Will Fund Prospective UK Care Acquisition Opportunity
Analysts have inched their price target for Welltower lower by about US$0.05. This reflects small updates to their fair value, discount rate, revenue growth, profit margin, and future P/E assumptions.WELL: Expanded Equity Capacity Will Support Prospective UK Senior Care Acquisition
Analysts have nudged their price target on Welltower slightly lower to US$248.80 from US$250.84, citing updated assumptions around revenue growth, profit margins, and a higher future P/E multiple. What's in the News Welltower filed a follow on equity offering for up to US$7.5b in common stock, structured as an at the market program.WELL: Expanded Equity Capacity Will Support Prospective UK Senior Care Acquisition
Analysts have lifted their price target on Welltower materially, from approximately $208 to $251 per share, citing expectations for slightly faster revenue growth, stronger profit margins, and a modestly lower future P/E multiple despite a higher discount rate. What's in the News Filed a new at-the-market follow-on equity shelf for up to $7.5 billion of common stock, expanding financial flexibility for future investments and debt reduction (regulatory filing).WELL: Equity Issuance And Acquisition Plans Will Shape Future Income Outlook
Analysts have raised their price target for Welltower by approximately $8.40 per share to about $207.40. This reflects expectations for stronger revenue growth that more than offset a modestly lower profit margin outlook and a slightly higher assumed valuation multiple.WELL: Equity Offerings And Margin Improvement Will Offset Lower Income Outlook
Analysts have raised their price target for Welltower from $192.90 to $198.95, citing improved profit margins and a modestly higher discount rate in their latest assessment. What's in the News Welltower has filed a Follow-on Equity Offering totaling $7.5 billion, issuing common stock through an at-the-market offering.WELL: Forward Equity Offerings And Margin Gains Will Balance Lower Guidance
Analysts have raised their price target for Welltower from $187.43 to $192.90. They cite improved profit margins and a lowered discount rate, even though revenue growth expectations are moderating.Analysts Lift Welltower Price Target Amid Raised Guidance and Improved Valuation Metrics
Analysts have slightly raised their price target for Welltower. They now estimate fair value at $187.43 per share, compared to the previous $186.81, citing incremental improvements in key valuation metrics.Private Fund Management And Acquisitions Will Improve Operational Efficiency
Analysts have raised their price target for Welltower to $186.81 from $184.60, reflecting modest improvements in projected fair value and slightly lower discount rate assumptions. What's in the News On July 28, 2025, Welltower's Board of Directors declared a quarterly cash dividend of $0.74 per share.Private Fund Management And Acquisitions Will Improve Operational Efficiency
Welltower’s consensus price target increased as improved net profit margin and a modestly lower future P/E signal incremental enhancements in profitability and valuation, lifting fair value from $180.37 to $184.60. What's in the News Welltower did not repurchase any shares in the latest buyback tranche, completing 0% of the previously announced buyback program.Private Fund Management And Acquisitions Will Improve Operational Efficiency
With analyst reasoning unavailable and both revenue growth and discount rate estimates unchanged, the consensus analyst price target for Welltower remained steady at $178.47. What's in the News Welltower repurchased 0 shares for $0 million from April 1, 2025 to June 30, 2025, completing 0% of the buyback announced earlier.Welltower Stock: Long-Term Potential Vs. Near-Term Risks
Feb 19Welltower REIT Became Too Pricey
Dec 01Welltower: Senior Housing Isn't A Growth Stock
Nov 16Welltower: Aging Gracefully Or Out Of Touch? Stock That's Priced For Perfection
Sep 02
Decisive Acquisitions And Operational Efficiencies Propel Senior Housing Leader To New Heights
Welltower's strategic focus on improving senior housing occupancy and acquisitions aimed at portfolio expansion are designed to drive revenue and NOI growth.Welltower: Trades At A Premium But For Good Reason
Jun 20Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Welltower makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 11,767 | 1,408 | 1,752 | 0 |
| 31 Dec 25 | 10,838 | 937 | 1,748 | 0 |
| 30 Sep 25 | 9,908 | 960 | 240 | 0 |
| 30 Jun 25 | 9,278 | 1,130 | 255 | 0 |
| 31 Mar 25 | 8,554 | 1,082 | 246 | 0 |
| 31 Dec 24 | 7,991 | 952 | 235 | 0 |
| 30 Sep 24 | 7,490 | 916 | 231 | 0 |
| 30 Jun 24 | 7,031 | 593 | 199 | 0 |
| 31 Mar 24 | 6,872 | 442 | 188 | 0 |
| 31 Dec 23 | 6,573 | 340 | 179 | 0 |
| 30 Sep 23 | 6,283 | 252 | 176 | 0 |
| 30 Jun 23 | 6,160 | 118 | 165 | 0 |
| 31 Mar 23 | 5,973 | 105 | 157 | 0 |
| 31 Dec 22 | 5,861 | 141 | 150 | 0 |
| 30 Sep 22 | 5,619 | 204 | 142 | 0 |
| 30 Jun 22 | 5,385 | 390 | 140 | 0 |
| 31 Mar 22 | 5,053 | 327 | 135 | 0 |
| 31 Dec 21 | 4,737 | 336 | 127 | 0 |
| 30 Sep 21 | 4,555 | 441 | 121 | 0 |
| 30 Jun 21 | 4,352 | 587 | 120 | 0 |
| 31 Mar 21 | 4,393 | 740 | 123 | 0 |
| 31 Dec 20 | 4,587 | 979 | 128 | 0 |
| 30 Sep 20 | 4,747 | 1,039 | 127 | 0 |
| 30 Jun 20 | 4,976 | 1,304 | 127 | 0 |
| 31 Mar 20 | 5,108 | 1,262 | 127 | 0 |
| 31 Dec 19 | 5,121 | 1,232 | 127 | 0 |
| 30 Sep 19 | 5,100 | 1,110 | 131 | 0 |
| 30 Jun 19 | 5,070 | 584 | 129 | 0 |
| 31 Mar 19 | 4,865 | 601 | 128 | 0 |
| 31 Dec 18 | 4,700 | 758 | 126 | 0 |
| 30 Sep 18 | 4,553 | 545 | 124 | 0 |
| 30 Jun 18 | 4,408 | 555 | 125 | 0 |
| 31 Mar 18 | 4,351 | 589 | 125 | 0 |
| 31 Dec 17 | 4,317 | 464 | 122 | 0 |
| 30 Sep 17 | 4,291 | 908 | 126 | 0 |
| 30 Jun 17 | 4,278 | 1,169 | 133 | 0 |
| 31 Mar 17 | 4,296 | 1,176 | 141 | 0 |
| 31 Dec 16 | 4,281 | 1,012 | 155 | 0 |
| 30 Sep 16 | 4,232 | 812 | 159 | 0 |
| 30 Jun 16 | 4,132 | 659 | 159 | 0 |
| 31 Mar 16 | 4,013 | 777 | 158 | 0 |
| 31 Dec 15 | 3,860 | 818 | 147 | 0 |
| 30 Sep 15 | 3,698 | 874 | 158 | 0 |
| 30 Jun 15 | 3,567 | 828 | 152 | 0 |
Quality Earnings: WELL has a large one-off gain of $1.7B impacting its last 12 months of financial results to 31st March, 2026.
Growing Profit Margin: WELL's current net profit margins (12%) are lower than last year (12.7%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: WELL's earnings have grown significantly by 28.1% per year over the past 5 years.
Accelerating Growth: WELL's earnings growth over the past year (30%) exceeds its 5-year average (28.1% per year).
Earnings vs Industry: WELL earnings growth over the past year (30%) exceeded the Health Care REITs industry 20.4%.
Return on Equity
High ROE: WELL's Return on Equity (3.2%) 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 | 2026/05/04 22:34 |
| End of Day Share Price | 2026/05/04 00:00 |
| Earnings | 2026/03/31 |
| 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 |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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 46 analysts. 5 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 |
|---|---|
| David Rodgers | Baird |
| Amanda Sweitzer | Baird |
| Joshua Raskin | Barclays |