Welltower (WELL) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Welltower

NYSE•Real Estate•REIT - Healthcare Facilities

$241.17+2.17(0.01%)After hours

Market Cap

$173.11B

P/E

99.0x

P/S

12.6x

P/B

3.6x

Welltower Inc., an S&P 500 company, is positioned at the center of the silver economy, focusing on rental housing for aging seniors across the United States, United Kingdom, and Canada. Their portfolio of 2,500+ seniors and wellness housing communities are positioned at the intersection of housing and hospitality, creating vibrant communities for mature renters and older adults. They believe our real estate portfolio is unmatched, located in highly attractive micro markets with stunning built environments. Yet, Welltower is an unusual real estate organization as they view themselves as an operating company in a real estate wrapper, driven by highly aligned partnerships and an unconventional culture. Through their disciplined approach to capital allocation powered by their Data Science platform and superior operating results driven by the Welltower Business System - their end-to-end operating platform - they aspire to deliver long-term compounding of per share growth for their existing investors, North Star. Welltower Inc. was incorporated in 1970 in Delaware and is based in Toledo, Ohio.

How this company scores

GoodMetricSide Score: 79/100

Strongest: Cash & Earnings Quality (25/25); weakest: Profitability (14/25).

Profitability14/25

Growth22/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowRising earningsLow leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 99.0x5y range 80.4x – 299.1x

Currently near its 20-quarter median.

P/S · 12.6x5y range 5.2x – 12.7x

Currently above its 20-quarter median.

P/B · 3.6x5y range 1.5x – 3.6x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 16.4% — watch for continued compression, which may signal competitive or cost pressure.

Share Dilution

Red Flag

Shares outstanding increased 15.7% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $173.11B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $13.79B
Q. Revenue: $3.72B
TTM EBITDA: $3.17B
TTM Op. Income: $1.96B
Q. Op. Income: $1.24B
TTM Net Income: $1.75B
Q. Net Income: $414.82M
EPS: $0.55
Shares Out.: $724.33M

$13.79B in TTM revenue grew 39.2% YoY, reaching $3.72B last quarter. TTM EBITDA of $3.17B and TTM operating income of $1.96B show growth is flowing through to the bottom line. TTM net income of $1.75B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 39.6%
EBITDA Margin: 33.5%
Op. Margin: 33.5%
Net Margin: 11.2%

Op. margin of 33.5% is up 15.4% YoY — cost efficiency is improving. Net margin at 11.2% and gross margin of 39.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 85% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 99.0x
P/S Ratio: 12.6x
P/B Ratio: 3.6x

At 99.0x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 12.6x and P/B of 3.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 19% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $73.71B
Cash: $2.27B
Long-Term Debt: $18.15B
Book Value: $48.58B
D/E Ratio: 0.4
Debt/EBITDA: 14.6

With $73.71B in assets and $18.15B in long-term debt, D/E is 0.4and book value is $48.58B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.00B
TTM Free Cash Flow: $2.08B
FCF Margin: 15.1%
FCF / Net Income: 1.2

TTM FCF of $2.08B on $1.00B in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.