Market capitalisation
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Share price multiplied by shares outstanding. It does not measure company cash.
Company analysis·WELL
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NYSE·WELL
Welltower Inc.
Share price$246.06Price as of: Nov 9, 2026
Welltower Inc. (WELL) is a company listed on NYSE, classified under REIT - Healthcare Facilities.
Welltower Inc.
Revenue · FY 2025
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Sales generated during the period, before costs and expenses.
Net margin · FY 2025
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Net income as a proportion of revenue.
“Our take” and other explanations are generated with artificial intelligence from the data, without human review of each text. They are descriptive, not recommendations. Learn more
Explore questions
P1 · What does it do and how does it make money?
Of every $100 it takes in,80 come from Senior Housing Operating.
Senior Housing Operating is its largest source of revenue (79.6%), followed by Triple Net (11.2%). Here you will see what it sells, where, and how that mix is changing.
$11bnrevenue in FY 2025
3business lines with data
74%of sales, in UNITED STATES
Full fiscal year ended Dec 31, 2025
After that close
Q3 2026, ended Sep 30, 2026: total revenue +41.4% against the same quarter a year earlier.
This is the revenue of the whole company. The split by lines and regions on this page is still that of the full fiscal year.01How it makes money
The data does not separate products from services.
Not all revenue behaves the same way. A one-off sale depends on someone buying again; a service is billed again and again while the customer stays.
Its business lines · FY 2025
02Where revenue comes from
A single line brings in half or more.
Each rectangle is a business line and its size is the share of revenue it brings in. Select one to see the detail.
1.9%
Area = share of total revenue for the year. It does not show profit: the company does not report what each line earns.
$0.2bn (1.9%) of revenue has no segment assigned in the published data.
What is a segment's weight?
The part of everything the company takes in that comes from that line. If a line weighs 49%, then of every 100 in sales, 49 come from it.
How to read it
The more a line weighs, the more revenue depends on it. A high weight is neither good nor bad by itself: it shows where to look first.
03Where sales come from
It depends on one main market.
UNITED STATES is its largest market, with 74.4% of sales. Each square is a region and its area is what it sells there.
Regions from largest to smallest · FY 2025
Segments add up to $0.2bn more than total revenue (consolidation adjustments). Weights use the published total.
04How the mix is changing
Outpatient Medical is losing weight.
Weight of each part in 2024 and in 2025. A line gains weight when it grows faster than the total.
FY 2024FY 2025
pp = percentage points: the difference between two percentages (from 25% to 27% is 2 pp).
05Read with care
What we can deduce from the data. And what we cannot.
We can deduceWe cannot conclude
01
In FY 2025, Welltower depends increasingly on Senior Housing Operating: it accounts for 81.1% of revenue and 86.3% of growth, outweighing all other lines together.
That this dominance ensures more profit per sale: without margin by line, if other lines are more profitable, earnings need not depend as much on the largest line.
02
Though Outpatient Medical declined (−2.5%), the growth in other lines, almost entirely Senior Housing Operating and Triple Net, more than offset it.
That Outpatient Medical’s drop can’t limit profit: if it was highly profitable, its decrease could impact overall profit even as revenue rises.
Our take
Welltower’s dependence on Senior Housing Operating is rising and surpasses all other lines; regional diversification grows but does not offset line concentration.
- 01Shown by the figures
Rising dominance of Senior Housing Operating
Senior Housing Operating’s share increases both in revenue and growth contribution: it holds 81.1% of turnover in FY 2025 and most incremental gains, making the company more reliant on a single line than ever.
- 02Our interpretation
Offsetting among lines and resilient revenue growth
The drop in Outpatient Medical did not halt top-line growth as other lines—especially Senior Housing Operating and Triple Net—absorbed the decrease and drove revenue higher. However, this does not necessarily hold for profit.
What is not proven
What is each line’s share and profitability in net income and margin? Knowing this could alter the view of the company’s true dependency.
See the calculations behind it
- Senior Housing Operating brought $2.5B of the $2.8B by which revenue grew in FY 2025 (87.2%), although it weighed 76.8%. Without that line, the rest grew 19.8%.
- Dependence on Senior Housing Operating rises: from 76.8% of revenue in FY 2024 to 79.6% in FY 2025.
- Outpatient Medical took away $20.2M in FY 2025; the other lines made up for it and revenue still rose $2.8B.
- United States brings 74.4% of sales (83.6% in FY 2024). The fastest-growing region is United Kingdom: +148.4% against +35.8% overall.
- Senior Housing Operating accounts for 87.2% of the change in revenue in FY 2025 and weighed 76.8%.
- Senior Housing Operating weighs more than all the other lines together: 79.6% of revenue in FY 2025.
With data to Nov 4, 2026. Analysis written by a language model from our calculations, which supply every figure. It is not investment advice.
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