Welltower Inc. (WELL)

NYSE: WELL · USD

$227

+0.23 (+0.1%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-21

Our latest published analysis: WELL rated Sell

Welltower Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$73.9 / share

Potential value

$83.0 / share

Upside to FV

-68.3%

from $227

Moat

7/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$164.9B
Revenue (ttm)	13.8B
Net income (ttm)	1.7B
EPS (ttm)	$2.32
Shares out	733.6M
P/E (trailing)	97.8x
P/E (forward)	77.5x
Dividend	$3.40 (1.50%)
Volume	4,867,974
Beta	0.75

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 13.8B
Net income (ttm): 1.7B
EPS (ttm): $2.32
P/E (trailing): 97.8x
P/E (forward): 77.5x
Market cap: $164.9B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$3.20B	$4.17B	$4.75B	$6.03B	$8.45B	+27.5%
Gross profit	$1.93B	$2.22B	$2.53B	$3.02B	$4.18B	+21.2%
Operating income	$660.6M	$702.6M	$957.9M	$1.10B	$171.9M	-28.6%
Net income	$336.1M	$141.2M	$340.1M	$951.7M	$936.8M	+29.2%
EPS (diluted)	$0.78	$0.30	$0.66	$1.57	$1.39	+15.5%
EBITDA	$1.71B	$2.04B	$2.40B	$2.78B	$2.31B	+7.8%
R&D	$0	$0	$0	—	—	+11.8%
SG&A	$126.7M	$150.4M	$179.1M	$235.5M	$1.75B	+92.7%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AMT	American Tower Corporation	85.1B	25.8x	7.5x	7.8%	+4.0%	+0.7%	减持
ARE	Alexandria Real Estate Equities Inc.	6.9B	—	2.4x	0.9%	+6.6%	-45.8%	持有
CCI	Crown Castle Inc.	37.4B	46.3x	9.1x	5.1%	-7.9%	-6.2%	卖出
CPT	Camden Property Trust	10.3B	32.3x	6.6x	3.2%	+7.7%	-0.6%	买入
DLR	Digital Realty Trust, Inc.	68B	86.6x	10.0x	2.4%	+9.3%	+3.7%	卖出
DOC	Healthpeak Properties, Inc.	13B	53.8x	4.4x	2.5%	+10.5%	+3.0%	强力买入

Base and Bull scenarios

Base60%

Price target

$73.89

-68.3% from spot

The base path projects steady occupancy recovery across senior housing facilities, with annual resident rate increases offsetting labor expenses. Contractual rental income from triple-net and outpatient properties provides cash flow stability, leading to an intrinsic target of $73.89 representing an expected return of -68.3% with probability 60.0%.

Senior housing operating margins gradually normalize towards historical levels
Consolidated top-line revenue reaches consensus expectations for FY2026 and FY2027
Triple-net and outpatient medical leases maintain high retention and contractual rent escalations

Bull20%

Price target

$82.97

-64.4% from spot

The bull path envisions accelerating senior housing occupancy exceeding pre-pandemic peaks, coupled with double-digit RevPOR growth that drives operating margins above historical norms. Capital deployment via accretive acquisitions further enhances cash generation, yielding an intrinsic target of $82.97 and an expected return of -64.4% with probability 20.0%.

Senior housing occupancy accelerates towards peak capacity across prime corridors
Strong pricing power drives double-digit RevPOR growth ahead of general inflation
Accretive acquisition deployment expands property portfolio net operating income

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($73.89). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.5%	2.0%	2.5%	3.0%	3.5%
6.1%	$111	$113	$116	$120	$125
7.1%	$87.4	$88.9	$90.6	$92.8	$95.6
8.1%	$71.8	$72.7	$73.9	$75.3	$77.0
9.1%	$61.3	$62.0	$62.8	$63.7	$64.9
10.1%	$53.3	$53.8	$54.4	$55.1	$55.9

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E77.5

P25 11.8P50 26.8P75 44.2

Trailing P/E103.1

P25 14P50 22.5P75 42.8

ROE3.9

P25 -2P50 3.9P75 8.9

ROIC1.4

P25 0.5P50 2.5P75 4.8

Benchmarks · 1M

All WELL indicators

Market & fundamental data

Available fields

269

Groups with data

Currency

USD

Showing 269 of 269 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000766704
Company name	Welltower Inc.
Country	United States
Country code	US
CUSIP number	95040Q104
Earnings date	2026-10-26
Earnings time	amc
Employees	712
Employees change	27
Employees growth	3.94%
Enterprise value	$185.4B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1970
In index	SP500
Industry	REIT - Healthcare Facilities
Is primary listing	Yes
Is SPAC	No
ISIN number	US95040Q1040
Last 10-K release date	2026-02-12
Last earnings date	2026-10-26
Last refreshed	2026-10-28
Last stock split date	1985-09-04
Last stock split type	Forward
Market cap	$166.5B
Market cap category	Large-Cap
Next earnings date	2027-02-09
Options	Yes
Price	$226.94
Price currency	USD
Sector	Real Estate
SIC code	6798
Stock price date	2026-10-28
Symbol	WELL
U.S. state	Ohio
Website	https://www.welltower.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	98.59x
Average P/E ratio (10Y)	88.97x
Average P/E ratio (3Y)	106.79x
Average P/E ratio (5Y)	141.47x
Earnings yield	1.02%
EV/Earnings	111.81x
EV/EBIT	188.2x
EV/EBITDA	48.49x
EV/FCF	118.07x
EV/Sales	13.51x
FCF / EV yield	0.85%
FCF yield	0.94%
Forward EV/Sales	10.98x
Forward P/E	76.91x
Forward P/S	9.87x
Graham number	58.85184
Graham upside	-74.22%
Industry forward P/E	67.52x
Industry P/E	79.99x
Lynch fair value	$57.98
Lynch upside	-74.6%
P/(FCF - SBC) ratio	8,806.33x
P/(OCF - SBC) ratio	102.93x
P/B ratio	3.42x
P/E ratio	97.85x
P/FCF ratio	106.1x
P/FFO ratio	64.07x
P/OCF ratio	52.56x
P/S ratio	12.14x
PEG ratio	5.26x
Price / tangible book value	3.45x
Price/EBITDA ratio	43.58x
Sector forward P/E	29.74x
Sector P/E	40.61x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	7.18%
EBITDA margin	27.86%
FCF margin	12.37%
Gross margin	39.23%
Operating margin	7.18%
Pretax margin	12.32%
Profit margin	12.08%
Profit per employee	$2.3M
Profitable quarters	15
Profitable years	33
Revenue per employee	$19.4M
ROA	0.93%
ROA (5Y)	1.38%
ROCE	1.4%
ROE	3.92%
ROE (5Y)	2.04%
ROIC	1.43%
ROIC (5Y)	2.25%
SBC / revenue	12.22%
Tax / revenue	-0.35%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	58.96%
EPS growth (Q)	31.42%
EPS growth (QoQ)	-12.16%
EPS growth 10Y	0.23%
EPS growth 3Y	66.48%
EPS growth 5Y	17.5%
EPS growth quarters	3
EPS growth years	0
Net income growth	73.55%
Net income growth (Q)	41.36%
Net income growth (QoQ)	-10.88%
Net income growth 3Y	87.6%
Net income growth 5Y	30.45%
Net income growth quarters	3
Net income growth years	0
OCF growth	21.93%
OCF growth 10Y	7.07%
OCF growth 3Y	31.49%
OCF growth 5Y	21.73%
Revenue growth	39.22%
Revenue growth (Q)	38.36%
Revenue growth (QoQ)	4.83%
Revenue growth 10Y	12.54%
Revenue growth 3Y	29.97%
Revenue growth 5Y	24.81%
Revenue growth quarters	21
Revenue growth years	5

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1.8B
Depreciation and amortization	$2.7B
EBIT	$990.2M
EBITDA	$3.8B
EPS	$2.32
FCF per share	$2.15
Free cash flow	$1.6B
Free cash flow minus SBC	$19M
Funds from operations (FFO)	$2.6B
Gross profit	$5.4B
Income taxes	$-48.2M
Investing cash flow	$-13.2B
Net cash flow	$-2.4B
Net income	$1.7B
Operating cash flow minus SBC	$1.6B
Operating income	$990.2M
Revenue	$13.8B
Stock-based compensation	$1.6B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$66.37
Debt / EBITDA	5.36
Debt / equity	0.42
Debt / FCF	13.41
Interest coverage	1.28
Net cash (debt)	$-18.9B
Net cash / market cap	-11.28%
Net debt / EBITDA	4.92
Net debt / equity	0.38
Net debt / FCF	11.97
Piotroski F-Score	5
Property, plant and equipment	$62.9B
Shareholders' equity	$49.9B
Tangible book value	$48.6B
Tangible book value per share	$66.37
Total assets	$73.7B
Total cash	$2.3B
Total debt	$21.2B
Total liabilities	$23.8B
WACC	7.75%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.21
Current ratio	3.18
Net working capital	$3.8B
Quick ratio	1.92
Working capital	$6B

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-10.89%
Dividend growth	12.77%
Dividend growth (10Y)	-0.78%
Dividend growth (3Y)	9.23%
Dividend growth (5Y)	5.44%
Dividend growth years	2
Dividend payment date	2026-11-19
Dividend payment years	51
Dividend payout frequency	Quarterly
Dividend per share	$3.40
Dividend yield	1.51%
Ex-dividend date	2026-11-10
FCF payout ratio	157.68%
Last dividend	$0.85
Payout ratio	146.59%
Shareholder yield	-9.4%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	231.43%
10Y return CAGR	16.82%
10Y total return	373.04%
150-day SMA	$224.25
15Y price change	329.44%
15Y return CAGR	14.7%
15Y total return	682.53%
1D price change	0.1%
1M price change	-2.02%
1M total return	-2.02%
1W price change	-4.78%
1W total return	-4.78%
1Y price change	24.14%
1Y return CAGR	25.99%
1Y total return	25.97%
20-day SMA	$230.54
200-day SMA	$218.03
20Y price change	453.2%
20Y return CAGR	13.92%
20Y total return	1,254.95%
3M price change	-8.71%
3M total return	-8.37%
3Y price change	178.67%
3Y return CAGR	43.49%
3Y total return	195.48%
50-day SMA	$233.55
50-day SMA vs 200-day SMA	50over200
52-week high	$255.20
52-week high date	2026-07-28
52-week low	$174.91
52-week low date	2025-10-29
5Y price change	175.46%
5Y return CAGR	25.44%
5Y total return	210.5%
6M price change	7.95%
6M total return	8.73%
All-time high	$255.20
All-time high date	2026-07-28
All-time low	$9.67
All-time low date	1984-04-09
Average true range (ATR)	$6.07
Average volume	2.6M
Beta (1Y)	-0.14
Beta (2Y)	0.24
Beta (5Y)	0.75
Change from 52-week high	-11.07%
Change from 52-week low	29.75%
Change from all-time high	-11.17%
Change from all-time low	2,245.09%
Change from open	3.21%
Day's gap	-3.02%
Dollar volume	$1.1B
High price	$228.67
Low price	$217.81
Monthly RSI	69.02
Open price	$219.88
Position in 52-week range	84.07%
Premarket change	-0.76%
Premarket close	$226.72
Premarket price	$225.00
Premarket volume	359
Previous close	$226.72
Price vs 150-day SMA	1.09%
Price vs 20-day SMA	-1.67%
Price vs 200-day SMA	3.98%
Price vs 50-day SMA	-2.93%
Relative volume	1.87
RSI	42.74
Sharpe ratio	0.94
Sharpe ratio (3Y)	1.59
Sharpe ratio (5Y)	0.88
Sortino ratio	1.57
Sortino ratio (3Y)	2.69
Sortino ratio (5Y)	1.54
Volume	4.9M
Weekly RSI	51.18
YTD price change	22.14%
YTD total return	23.45%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	719.7M
Float percentage	98.11%
Shares change (QoQ)	2.3%
Shares change (YoY)	10.89%
Shares held by insiders	0.04%
Shares held by institutions	98.16%
Shares outstanding	733.6M
Short % of float	2.47%
Short % of shares	2.42%
Short ratio	6.4 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	113

Deeper analysis on WELL

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this WELL report

What is the latest published WELL stock rating?

Welltower Inc. is shown with Sell in the latest published report, analyzed 2026-09-21. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full WELL analysis?

The full latest published report, analyzed 2026-09-21, lives at /stocks/WELL/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for WELL?

The latest published report analyzed 2026-09-21 gives WELL a fair value of USD 74 and a potential value of USD 83. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the WELL page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-21). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellWELL · Fair value $73.9-68.3%

Read full analysis →

Welltower Inc. (WELL)

Our latest published analysis: WELL rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · WELL

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All WELL indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on WELL

Frequently asked questions

评级历史

Category	Score	Reading
Valuation	1.5
Management	6.5
Balance Sheet	6.0
Profitability	4.0
Revenue Growth	9.0
Risk Assessment	7.5
Competitive Moat	7.0
Earnings Quality	9.0
Capital Efficiency	2.5