Welltower Inc. (WELL) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	12.6B	10.7B	7.9B	6.5B	5.8B
Cost of Revenue	7.7B	6.5B	4.8B	3.9B	3.6B
Gross Profit	4.9B	4.2B	3.0B	2.5B	2.2B
Operating Expenses
R&D Expense	—	—	—	—	—
SG&A Expense	1.8B	1.7B	235.5M	179.1M	150.4M
General & Admin Expense	1.8B	1.7B	235.5M	179.1M	150.4M
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	2.5B	2.1B	1.6B	1.4B	1.3B
Total Operating Expenses	4.2B	3.8B	1.9B	1.6B	1.5B
Cost and Expenses	11.9B	10.3B	6.7B	5.5B	5.0B
Operating Income (EBIT)	680.9M	355.2M	1.1B	940.5M	746.2M
Non-Operating
Interest Income	77.4M	—	—	—	—
Interest Expense	740.5M	652.0M	574.3M	607.8M	529.5M
Net Interest Income	(663.1M)	(652.0M)	(574.3M)	(607.8M)	(529.5M)
Other Non-Op Income/Expense	800.6M	599.6M	(170.1M)	(576.0M)	(578.4M)
Non-Operating Income (excl Interest)	164.8M	183.2M	47.0M	(17.4M)	43.6M
EBT (Pre-Tax Income)	1.5B	954.7M	975.6M	364.5M	167.8M
Income Tax Expense	71.0M	(7.1M)	2.7M	6.4M	7.2M
Bottom Line
Net Income	1.3B	936.8M	951.7M	340.1M	141.2M
Earnings from Cont. Ops	1.4B	961.8M	972.9M	358.1M	160.6M
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	1.4B	944.1M	953.4M	339.8M	141.4M
Per Share
Basic EPS	$1.93	$1.41	$1.58	$0.66	$0.31
Diluted EPS	$1.89	$1.39	$1.57	$0.66	$0.30
Revenue Per Share	$17.90	$16.03	$13.02	$12.56	$12.50
Shares
Basic Shares Outstanding	704.8M	665.6M	603.0M	515.6M	462.2M
Diluted Shares Outstanding	732.1M	679.5M	608.8M	518.7M	465.2M
Profitability Metrics
EBITDA	3.0B	2.3B	2.8B	2.4B	2.0B
D&A	2.5B	2.1B	1.7B	1.4B	1.3B
EBIT	516.1M	171.9M	1.1B	957.9M	702.6M

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026