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

$229.52-2.74(-0.01%)Market open

Market Cap

$164.84B

P/E

102.1x

P/S

12.9x

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 · 102.1x5y range 77.4x – 299.1x

Currently near its 20-quarter median.

P/S · 12.9x5y range 5.2x – 12.9x

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

Red Flag

Operating margins dropped 38.6% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Share Dilution

Red Flag

Shares outstanding increased 16.1% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $164.84B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $12.76B
Q. Revenue: $3.54B
TTM EBITDA: $2.93B
TTM Op. Income: $1.20B
Q. Op. Income: $1.24B
TTM Net Income: $1.62B
Q. Net Income: $462.98M
EPS: $0.63
Shares Out.: $709.73M

$12.76B in TTM revenue grew 37.6% YoY, reaching $3.54B last quarter. TTM EBITDA of $2.93B and TTM operating income of $1.20B show growth is flowing through to the bottom line. TTM net income of $1.62B 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: 39.3%
EBITDA Margin: 35.0%
Op. Margin: 35.0%
Net Margin: 13.1%

Op. margin of 35.0% is up 17.8% YoY — cost efficiency is improving. Net margin at 13.1% and gross margin of 39.3% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

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

P/E Ratio: 102.1x
P/S Ratio: 12.9x
P/B Ratio: 3.6x

At 102.1x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 12.9x 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 up 16% — a weakening trend.

Assets & Liabilities

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

Total Assets: $69.88B
Cash: $1.97B
Long-Term Debt: $17.73B
Book Value: $46.41B
D/E Ratio: 0.4
Debt/EBITDA: 14.3

With $69.88B in assets and $17.73B in long-term debt, D/E is 0.4and book value is $46.41B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 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: $2.02B
FCF Margin: 15.8%
FCF / Net Income: 1.3

TTM FCF of $2.02B on $1.00B in operating cash flow. The FCF / Net Income ratio of 1.3x 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.