Company Overview
Welltower Inc is a U.S. real estate company focused on property ownership and related real estate activities. The business operates at large scale, with a market value around USD 145 billion. Its economics are tied to the cash flows produced by its real estate portfolio. Shareholders participate through a large public float of roughly 697.8 million shares.
Analysis of recent data
FundamentalsFor 2025, reported in USD, revenue was USD 10.8 billion and net income was USD 961.8 million, alongside year-over-year revenue growth of 35.6%. Trailing profitability shows a 41.17% gross margin, a 1.79% operating margin, and an 8.64% net profit margin.
Depreciation and amortization totaled USD 2.1 billion, while the balance sheet shows USD 5.0 billion of cash against reported total debt of USD 0. On equity, the trailing ROE stands at 2.49%.
Valuation
DCF / MultiplesAt USD 195.77, the stock trades above the DCF fair-value range, even under the stronger outcome. That pricing also sits alongside elevated headline multiples, including a 155.96 P/E and 70.29 EV/EBITDA.
Conclusion
TakeawayThe balance sheet looks unusually clean on reported debt. The price still embeds demanding expectations. Low returns on equity leave little cushion if profits soften. This only works if earnings power rises meaningfully. If margins stay thin, the valuation can compress quickly.