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Screener / SEC EDGAR /CIK 0000766704 /10-K filed Feb 12, 2026, compared with Feb 12, 2025 /Numbers from the XBRL of the 10-Ks
Real estate peers:
AMTEQIXWELLSPGIRMPLD
NYSE Real estate · REIT

Welltower WELL

WELL quote by TradingView

Welltower Inc. (NYSE:WELL), a real estate investment trust (“REIT”) and 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. 10-K, Item 1

Headquarters
Toledo, OH
CEO
Shankh Mitra
Next results
around Feb 9, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $10.8B through the costs to a net profit of $936.8M · income statement of the 10-K

9% net margin
Revenue to Gross profit: $4.3BRevenue to Cost of revenue: $6.5BGross profit to Net profit: $936.8MGross profit to Costs, tax, other: $3.4B Revenue: $10.8B REVENUE $10.8B +36% Y/Y Gross profit: $4.3B · 40% margin GROSS PROFIT $4.3B 40% margin Cost of revenue: $6.5B · 60% of revenue COST OF REVENUE $6.5B 60% of revenue Net profit: $936.8M · 9% margin NET PROFIT $936.8M 9% margin · −2% Y/Y Costs, tax, other: $3.4B · 31% of revenue COSTS, TAX, OTHER $3.4B 31% of revenue
Gross profit $4.3B 40% margin
Net profit $936.8M 9% margin · −2% Y/Y
The full income statement, year by year

WELL among Real estate peers

Six ratios from the latest 10-K. Each corner is the share of 28 peers the company is above, not a score.

Compare
Revenue growth: 35.6%, above 100% of 28 peers (their median 5.1%) REVENUE GROWTH 35.6% · above 100% Gross margin: 22.2%, above 25% of 8 peers (their median 64.6%) GROSS MARGIN 22.2% · above 25% Net margin: 12.1%, above 25% of 28 peers (their median 21.8%) NET MARGIN 12.1% · above 25%
WELL Peer median Below the median

What changed

15 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 12, 2026 against Feb 12, 2025.

Risk factors
15 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Critical audit matters changed
New this year: Valuation and accounting for stock-based compensation (“As discussed in Note 15 to the consolidated financial statements, during the year ended December 31, 2025, the Company awarded long-term incentive plan (“LTIP”) units of Welltower OP to the Company’s named executive officers and certain key employees (together, the “Awards”) that are vested immediat”). Same as last year: Impairment of real property and investments in unconsolidated entities
10-K · XBRL
Accounting checks
9 other checks clear, 1 worth a look
10-K · XBRL
Insiders
4 open-market buys in the last 90 days
Form 4
Filings
3 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

1fact worth reading about the other 9 checks found nothing to note

  • Critical audit matters changed
    New this year: Valuation and accounting for stock-based compensation (“As discussed in Note 15 to the consolidated financial statements, during the year ended December 31, 2025, the Company awarded long-term incentive plan (“LTIP”) units of Welltower OP to the Company’s named executive officers and certain key employees (together, the “Awards”) that are vested immediat”). Same as last year: Impairment of real property and investments in unconsolidated entities
  • Receivables +12.8% vs revenue +35.6% (-22.8 pts)
8 more checks with nothing to note
  • Cash from operations $2.9B vs net income $961.8M (FY ending Dec 31, 2025)
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

15 paragraphs in Risk Factors that were not in the 10-K filed Feb 12, 2025. Quoted as filed.

All 15 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 12, 2025 10-K, ITEM 1A
    The largest component of the transactions we announced in 2025 is the acquisition of a real estate portfolio of seniors housing communities in the U.K. for £5.2 billion. Other properties we acquire may be located in new markets, either within or outside the U.S., where we may face risks associated with a lack of market knowledge or…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 12, 2025 10-K, ITEM 1A
    Divestitures may materially affect our financial condition, results of operations or cash flows We continually evaluate the performance of different facets of our business in connection with our business strategy and have and may in the future seek to divest all or part of our interest in certain portfolios or business lines. For…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 12, 2025 10-K, ITEM 1A
    We may be adversely affected by changing laws and regulation, including restrictions related to REIT ownership The laws and regulations that apply to us and our operators, managers and tenants are complex and may change rapidly, or new laws and regulations that apply to us may be enacted. Any new laws, regulations or changes in scope,…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 12, 2025 10-K, ITEM 1A
    While we believe our insurance coverage and that of our tenants is currently appropriate based on industry practice and consultant analysis, we remain subject to the risk that such coverage will not fully account for all losses. Intensifying natural disasters and extreme weather events, coupled with the current economic climate, have…

New risk paragraphs, against peers

Latest 10-K of each, Real estate companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$5.9B$6.6B$8.0B$10.8B
Net income$141.2M$340.1M$951.7M$936.8M
Operating cash flow$1.3B$1.6B$2.3B$2.9B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$10.8B ▲ 35.6% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

3 filings in the last 30 days · SEC EDGAR

All filings

About the company

Welltower, Toledo, OH · from the 10-K filed Feb 12, 2026

Welltower Inc. (NYSE:WELL), a real estate investment trust (“REIT”) and 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. Our portfolio predominantly consists of 2,500+ seniors and wellness housing communities that are positioned at the intersection of housing and hospitality, creating vibrant communities for mature renters and older adults. More information is available on the Internet at www.welltower.com. The information on our website is not incorporated by reference in this Annual Report on Form 10-K, and our web address is included as an inactive textual reference only.

Headquarters
Toledo, OH
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 26, 2026
Incorporated in
DE

Email alerts

Sources

The 10-K filed Feb 12, 2026 (open at SEC), compared with the 10-K filed Feb 12, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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