Q4 25 EPS
$0.14
MISS 76.27%
Est. $0.59
Q4 25 Revenue
$3.18B
BEAT +6.35%
Est. $2.99B
vs S&P Since Q4 25
-1.6%
TRAILING MARKET
WELL +5.6% vs S&P +7.2%
Full Year 2025 Results
FY 25 EPS
$1.39
FY 25 Revenue
$10.84B
Market Reaction
Did WELL Beat Earnings? Q4 2025 Results
Welltower closed out the fourth quarter of 2025 with a transformative flourish, reporting earnings per share of $0.14 on revenue of $3.18 billion while delivering normalized FFO of $1.45 per share, a 28.3% year-over-year gain that underscored the ope… Read more Welltower closed out the fourth quarter of 2025 with a transformative flourish, reporting earnings per share of $0.14 on revenue of $3.18 billion while delivering normalized FFO of $1.45 per share, a 28.3% year-over-year gain that underscored the operational momentum building across its seniors housing portfolio. The single most compelling driver was the Seniors Housing Operating segment, where same-store NOI surged 20.4% year-over-year as average occupancy climbed 400 basis points to 89.5% and RevPOR grew 4.7%, pushing total blended SSNOI growth to 15.0%. The quarter also featured $13.90 billion in pro rata gross investments, anchored by the landmark Barchester and HC-One acquisitions in the U.K., which added over 400 senior communities to the company's international footprint. Meanwhile, credit upgrades from both S&P and Moody's and net debt to Adjusted EBITDA falling to 3.03x signaled a materially stronger balance sheet. With real estate stocks broadly gaining on stabilizing rates, Welltower added to the sector's momentum by guiding 2026 normalized FFO to $6.09–$6.25 per diluted share, with SHO same-store NOI growth of 15.0% to 21.0%.
Key Takeaways
- • SHO same store NOI growth of 20.4% year-over-year
- • 400 basis points of average occupancy growth to 89.5% in SHO same store portfolio
- • 4.7% RevPOR growth in SHO portfolio
- • 270 bps same store NOI margin expansion year-over-year
- • Total portfolio SSNOI growth of 15.0%
- • Normalized FFO per share growth of 28.3% year-over-year
WELL YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
WELL Revenue by Segment
With YoY comparisons, source: SEC Filings
WELL Revenue by Geography
With YoY comparisons, source: SEC Filings
WELL Earnings Trends
WELL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WELL EPS Trend
Earnings per share: estimate vs actual
WELL Revenue Trend
Quarterly revenue: estimate vs actual
WELL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.50 | $1.47 | +194.00% | $3.35B | +4.83% |
| Q4 25 MISS FY | $0.59 | $0.14 | -76.27% | $3.18B | +6.35% |
| FY Full Year | — | $1.39 | — | $10.84B | — |
| Q3 25 MISS | $0.52 | $0.41 | -21.15% | $2.69B | -0.66% |
| Q2 25 MISS | $0.45 | $0.45 | -0.16% | $2.55B | +2.49% |
| Q1 25 BEAT | $0.38 | $0.40 | +5.26% | $2.42B | -0.09% |