Stocks · Real Estate · REIT - Healthcare Facilities
Welltower Inc. WELL
$227.71 +0.34% Close, Oct 2, 2026 · NYSE · Market cap $164.18B
Strong growthStrong trendExpensive vs sectorLow risk
Next earnings report: Oct 26, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin narrowed to 5.4% from 15.5% a year earlier.
- Revenue over the last four quarters was $12.61B, up 38.1% from a year earlier.
- Net debt is 5.9× EBITDA, a high level of leverage.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 16%
- EPS growth (TTM, YoY)Bottom 46%
- FCF growth (TTM, YoY)Top 41%
- Revenue growth, 3-year CAGRTop 10%
- Revenue growth accelerationBottom 48%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 22%
- Gross marginBottom 41%
- Operating marginBottom 18%
- Cash conversion (OCF / net income)Top 34%
- Accruals (lower is better)Bottom 43%
- Net debt / EBITDA (lower is better)Top 49%
- Interest coverBottom 34%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 36%
- Free-cash-flow yieldBottom 25%
- EBITDA / enterprise valueBottom 13%
- Sales / enterprise valueBottom 16%
- P/E vs own 5-year history (lower is better)Bottom 31%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 10%
- 6-month returnTop 17%
- 1-year return vs S&P 500Top 10%
- Distance from 52-week highTop 11%
- Trend checklist (0–4)Top 19%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 28%
- Consecutive EPS beatsBottom 18%
- Share of analysts rating BuyTop 17%
- Upside to consensus price targetBottom 19%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 29%
- Maximum drawdown, 3 yearsTop 3%
- Beta vs S&P 500 (lower is better)Top 19%
- Net debt / EBITDA (lower is better)Top 49%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 37.7% | 38.1% | ↑ |
| EPS growth (YoY) | 15.5% | 6.8% | ↓ |
| Gross margin | 38.7% | 38.8% | ↑ |
| Operating margin | 15.5% | 5.4% | ↓ |
| FCF margin | 28.1% | 21.1% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 38.1% | 37.7% | ↑ | Top 16% |
| EPS growth (TTM, YoY) | 6.8% | 15.5% | ↓ | Bottom 46% |
| Gross margin | 38.8% | 38.7% | ↑ | Bottom 41% |
| Operating margin | 5.4% | 15.5% | ↓ | Bottom 18% |
| Net margin | 10.7% | 12.4% | ↓ | — |
| Free-cash-flow margin | 21.1% | 28.1% | ↓ | — |
| Return on invested capital | 1.0% | — | Bottom 22% | |
| Revenue growth, 3-year CAGR | 22.7% | — | Top 10% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.51×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -2.9%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 12.4%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -138.1 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 5.89×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 0.9×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 1.25%
- Net buyback yield (TTM)
- -5.72%
- Shareholder yield
- -4.47%
- Share count change, 1 year
- +9.6%
- Share count change, 3-year CAGR
- +13.4%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 28, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 3 of 8
- Average EPS surprise, last 4
- -14.3%
- Average 2-day reaction, last 8
- +0.6%
- Positive 20 days after report
- 7 of 8
Analysts
- Consensus price target
- $258.08
- Target vs current price
- +13.3%
- Analysts with a rating
- 35
- Share rating Buy or Strong Buy
- 71%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 27, 2026 | -1.1% | -1.5% | -7.0% | -5.1% | — |
| Apr 28, 2026 | +50.2% | +2.0% | +3.4% | +3.9% | +17.6% |
| Feb 10, 2026 | -75.7% | +1.8% | +9.2% | +5.3% | +9.7% |
| Oct 27, 2025 | -30.5% | +2.6% | +1.7% | +12.4% | +2.3% |
| Jul 28, 2025 | +1.1% | -2.0% | +2.9% | +1.8% | +10.0% |
| Apr 28, 2025 | -65.2% | +1.4% | +2.6% | +1.5% | +10.0% |
| Feb 11, 2025 | -52.5% | +0.2% | +5.4% | +2.9% | +5.8% |
| Oct 28, 2024 | +93.0% | +0.3% | +2.4% | +5.9% | +5.0% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 27, 2026 | $0.61 | $0.62 | -1.1% | $3.54B |
| Apr 28, 2026 | $1.02 | $0.68 | +50.2% | $3.35B |
| Feb 10, 2026 | $0.14 | $0.58 | -75.7% | $3.18B |
| Oct 27, 2025 | $0.41 | $0.59 | -30.5% | $2.69B |
| Jul 28, 2025 | $0.46 | $0.46 | +1.1% | $2.55B |
| Apr 28, 2025 | $0.40 | $1.15 | -65.2% | $2.42B |
| Feb 11, 2025 | $0.19 | $0.40 | -52.5% | $2.25B |
| Oct 28, 2024 | $0.73 | $0.38 | +93.0% | $2.06B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 120.5× | 114.3× | 57th | Bottom 36% |
| P/E (forward) | 80.2× | — | — | — |
| EV / EBITDA | 60.3× | — | — | Bottom 13% |
| EV / Sales | 14.42× | — | — | Bottom 16% |
| Free-cash-flow yield | 1.62% | — | — | Bottom 25% |
| Earnings yield | 0.83% | — | — | Bottom 36% |
P/E over the past five years
Range 62.5× – 368.5× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +26.9%
- Earnings per share growth (TTM)
- +6.8%
- Change in P/E multiple
- +37.4%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 875
- 50-day average slope (20 days)
- -0.5%
- 200-day average slope (20 days)
- +1.6%
- Distance from 50-day average
- -3.4%
- Distance from 200-day average
- +6.4%
- RSI (14)
- 40.0
- Relative volume
- 1.01×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 19.9%
- Volatility vs own 5-year history
- 23th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.28
- Correlation with S&P 500
- 0.18
- Current drawdown from 1-year high
- -9.7%
- Maximum drawdown, 3 years
- -13.0%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Mar 29, 2022 | Oct 10, 2022 | -41.6% | 134 days | 396 days (May 8, 2024) |
| Mar 3, 2025 | Apr 8, 2025 | -13.0% | 26 days | 65 days (Jul 14, 2025) |
| Nov 28, 2025 | Jan 22, 2026 | -12.6% | 36 days | 16 days (Feb 13, 2026) |
| Nov 10, 2020 | Jan 27, 2021 | -11.9% | 52 days | 15 days (Feb 18, 2021) |
| Jul 16, 2021 | Dec 1, 2021 | -11.5% | 96 days | 68 days (Mar 10, 2022) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $164.18B
- P/E (TTM)
- 120.5
- EPS, diluted (TTM)
- $1.89
- Revenue (TTM)
- $12.61B
- Dividend yield
- 1.35%
- 52-week range
- $163.75 – $255.20
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $4.71B | $5.78B | $6.48B | $7.85B | $10.67B |
| Gross profit | $1.93B | $2.22B | $2.53B | $3.02B | $4.18B |
| Operating income | $763.4M | $746.2M | $940.5M | $1.15B | $355.2M |
| Net income | $336.1M | $141.2M | $340.1M | $951.7M | $936.8M |
| EPS (diluted) | $0.78 | $0.30 | $0.66 | $1.57 | $1.39 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.01B | $2.22B | $2.39B | $2.52B | $2.63B | $3.13B | $3.31B | $3.54B |
| Net income | $449.8M | $120.0M | $258.0M | $301.9M | $280.6M | $96.4M | $728.7M | $240.3M |
| EPS (diluted) | $0.73 | $0.19 | $0.40 | $0.45 | $0.40 | $0.14 | $1.02 | $0.33 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.28B | $1.33B | $1.60B | $2.26B | $2.88B |
| Capital expenditure | -$19.4M | -$30.5M | -$50.7M | -$58.1M | -$33.8M |
| Free cash flow | $1.26B | $1.30B | $1.55B | $2.20B | $2.85B |
| Dividends paid | -$1.04B | -$1.13B | -$1.26B | -$1.55B | -$1.88B |
| Net share buybacks | $2.35B | $3.67B | $6.01B | $7.42B | $8.90B |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $1.97B
- Total assets
- $69.88B
- Total liabilities
- $22.44B
- Total debt
- $19.72B
- Net debt
- $17.76B
- Shareholders’ equity
- $46.41B
As of Jun 30, 2026 (filed Jul 28, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Aug 12, 2026 | $0.85 | Aug 20, 2026 |
| May 13, 2026 | $0.74 | May 21, 2026 |
| Feb 25, 2026 | $0.74 | Mar 10, 2026 |
| Nov 10, 2025 | $0.74 | Nov 20, 2025 |
| Aug 12, 2025 | $0.74 | Aug 21, 2025 |
| May 14, 2025 | $0.67 | May 22, 2025 |
| Feb 25, 2025 | $0.67 | Mar 6, 2025 |
| Nov 13, 2024 | $0.67 | Nov 21, 2024 |
Short interest
- Shares sold short
- 17,596,292
- Days to cover
- 7.56
- Change vs previous report
- -4.5%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Sep 4, 1985
- 3-for-2