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Welltower Balance Sheet 2025-2011 | WELL
Brief overview of Welltower 's balance sheet strength
This overview follows the five latest available annual observations between 2021 and 2025.
Assets rose from $34.9 billion to $67.3 billion, a gain of +92.8%, while CAGR was about 17.8%. The balance sheet expanded rapidly.
Liabilities increased less than assets, posting +51.5% versus +92.8%. That relationship usually strengthens the balance sheet.
Internal capital represents 62.6% of the balance sheet, previously 53.3%. This is a strong capital position.
The net-debt-to-equity ratio is 0.34x. Balance sheet leverage is low on this measure.
Cash accounts for 7.5% of assets versus 1% initially. The change indicates the degree of financial flexibility.
Accumulated earnings ended at $11 billion, a change of +27.4%. They remain an important part of the capital base.
Overall picture
Welltower has a solid balance sheet cushion. Capital and liquidity support development without excessive reliance on debt.
Annual Balance Sheet Welltower
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
14.2 B | 9.66 B | 11.5 B | 11.7 B | 11.3 B | 11.9 B | 14.6 B | 13 B | 11.4 B | 11.9 B | 12.5 B | 10.4 B | 10.4 B | 7.5 B | 7.08 B |
Long Term Debt |
19.2 B | 13.2 B | 13.6 B | 12.4 B | 11.6 B | 13.9 B | 13.3 B | 12.1 B | 10.9 B | 11.6 B | 12.1 B | 10.7 B | 10.4 B | 8.45 B | 7.16 B |
Total Non Current Liabilities |
- | - | - | - | - | - | 14.3 B | 12.6 B | 11.4 B | 12.1 B | 12.3 B | 10.9 B | 10.6 B | 8.57 B | 7.24 B |
Total Liabilities |
24.1 B | 18.5 B | 17.6 B | 16.5 B | 15.9 B | 15.3 B | 16.9 B | 14.8 B | 13 B | 13.6 B | 13.8 B | 11.5 B | 11.3 B | 9.03 B | 7.61 B |
Retained Earnings |
11 B | 10.1 B | 9.15 B | 8.8 B | 8.66 B | - | -4.87 B | -4.7 B | -4.16 B | -3.34 B | -3.12 B | -2.79 B | -2.27 B | -1.51 B | -1.08 B |
Total Assets |
67.3 B | 51 B | 44 B | 37.9 B | 34.9 B | 32.5 B | 33.4 B | 30.3 B | 27.9 B | 28.9 B | 29 B | 25 B | 23.1 B | 19.5 B | 14.9 B |
Cash and Cash Equivalents |
5.03 B | 3.51 B | 2.08 B | 722 M | 347 M | 2.02 B | 285 M | 215 M | 244 M | 419 M | 361 M | 474 M | 159 M | 1.03 B | 163 M |
Book Value |
43.2 B | 32.6 B | 26.4 B | 21.4 B | 19 B | 17.2 B | 16.5 B | 15.6 B | 14.9 B | 15.3 B | 15.2 B | 13.5 B | 11.8 B | 10.5 B | 7.31 B |
Total Shareholders Equity |
42.1 B | 32 B | 26.1 B | 21 B | 18.6 B | 16.9 B | 15.5 B | 14.6 B | 14.4 B | 14.8 B | 14.6 B | 13.2 B | 11.4 B | 10.3 B | 7.12 B |
All numbers in USD currency
Quarterly Balance Sheet Welltower
| 2026-Q1 | 2025-Q4 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
17.9 B | 16.4 B | 16 B | 15.7 B | 13.2 B | 15.8 B | 13.9 B | 14.2 B | 13.6 B | 15.8 B | 16 B | 15.1 B | 12.4 B | - | 14.8 B | 14.3 B | 11.6 B | 13.5 B | 13.6 B | 14.6 B | 2.38 B | 13.9 B | 14.5 B | 13.2 B | 13.4 B | 12.5 B | 13.4 B | 12.4 B | 12.2 B | 12.2 B | 10.9 B | 10.5 B | 11 B | 11.1 B | 11 B | 10.9 B | 11.7 B | 12.1 B | 12.2 B | 12.4 B | 12.1 B | 10.9 B | 11.1 B | 10.5 B | 10.8 B | 10.2 B | 10.3 B | 10.3 B | 10.4 B | 9.48 B | 9.47 B | 9.07 B | 8.46 B | 7.25 B | 7.22 B | 6.8 B | 6.57 B | 6.33 B | 6.33 B | 6.16 B |
Total Liabilities |
22.3 B | 24.1 B | 19.3 B | 18.7 B | 18.5 B | 17.9 B | 15.8 B | 16 B | 17.6 B | 17.8 B | 17.9 B | 16.9 B | 16.5 B | - | 16.7 B | 16.3 B | 15.9 B | 15.3 B | 14.9 B | 15.9 B | 15.3 B | 15.3 B | 15.3 B | 15.3 B | 16.4 B | 16.4 B | 16.4 B | 16.4 B | 14.3 B | 14.3 B | 14.3 B | 14.3 B | 12.6 B | 12.6 B | 12.6 B | 12.6 B | 13.2 B | 13.2 B | 13.2 B | 13.2 B | 13.7 B | 13.7 B | 13.7 B | 13.7 B | 11.4 B | 11.5 B | 11.5 B | 11.5 B | 11.3 B | 11.3 B | 11.3 B | 11.3 B | 8.99 B | 8.99 B | 8.99 B | 8.99 B | 7.61 B | 7.61 B | 7.61 B | 7.61 B |
Retained Earnings |
11.8 B | 11 B | 10.7 B | 10.4 B | 10.1 B | 9.98 B | 9.53 B | 9.27 B | 9.15 B | 9.06 B | 8.93 B | 8.83 B | 8.8 B | - | 8.82 B | 8.73 B | 8.66 B | 8.61 B | 8.43 B | 8.4 B | 8.33 B | 8.33 B | 8.33 B | 8.33 B | 7.35 B | 7.35 B | 7.35 B | 7.35 B | 6.12 B | 6.12 B | 6.12 B | 6.12 B | 5.32 B | 5.32 B | 5.32 B | 5.32 B | 4.8 B | 4.45 B | 4.8 B | 4.8 B | 3.73 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
67.2 B | 67.3 B | 55.8 B | 53.3 B | 51 B | 49 B | 45.5 B | 44.6 B | 44 B | 41.7 B | 40.1 B | 38.5 B | 37.9 B | - | 36.6 B | 35.5 B | 34.9 B | 33.5 B | 32.2 B | 33 B | 32.5 B | 32.5 B | 32.5 B | 32.5 B | 33.4 B | 33.4 B | 33.4 B | 33.4 B | 30.3 B | 30.3 B | 30.3 B | 30.3 B | 27.9 B | 27.9 B | 27.9 B | 27.9 B | 28.9 B | 28.9 B | 28.9 B | 28.9 B | 29 B | 29 B | 29 B | 29 B | 25 B | 25 B | 25 B | 25 B | 23.1 B | 23.1 B | 23.1 B | 23.1 B | 19.5 B | 19.5 B | 19.5 B | 19.5 B | 14.9 B | 14.9 B | 14.9 B | 14.9 B |
Cash and Cash Equivalents |
4.7 B | 5.03 B | 4.41 B | 3.61 B | 3.51 B | 3.56 B | 2.86 B | 2.48 B | 1.99 B | 2.69 B | 2.3 B | 639 M | 632 M | 425 M | 442 M | 367 M | 269 M | 304 M | 809 M | 2.13 B | 2.02 B | 1.55 B | 1.55 B | 1.55 B | 285 M | 285 M | 285 M | 285 M | 215 M | 215 M | 215 M | 215 M | 244 M | 244 M | 244 M | 244 M | 607 M | 419 M | 419 M | 419 M | 423 M | 361 M | 361 M | 361 M | 553 M | 474 M | 474 M | 474 M | 159 M | 159 M | 159 M | 159 M | 1.03 B | 1.03 B | 1.03 B | 1.03 B | 163 M | 163 M | 163 M | 163 M |
Book Value |
44.9 B | 43.2 B | 36.5 B | 34.6 B | 32.6 B | 31.1 B | 29.7 B | 28.5 B | 26.4 B | 23.8 B | 22.2 B | 21.6 B | 21.4 B | - | 19.9 B | 19.2 B | 19 B | 18.2 B | 17.2 B | 17 B | 17.2 B | 17.2 B | 17.2 B | 17.2 B | 17 B | 17 B | 17 B | 17 B | 16 B | 16 B | 16 B | 16 B | 15.3 B | 15.3 B | 15.3 B | 15.3 B | 15.7 B | 15.7 B | 15.7 B | 15.7 B | 15.4 B | 15.4 B | 15.4 B | 15.4 B | 13.6 B | 13.6 B | 13.6 B | 13.6 B | 11.8 B | 11.8 B | 11.8 B | 11.8 B | 10.6 B | 10.6 B | 10.6 B | 10.6 B | 7.31 B | 7.31 B | 7.31 B | 7.31 B |
Total Shareholders Equity |
43.8 B | 42.1 B | 35.9 B | 34.3 B | 32 B | 30.3 B | 29.4 B | 28.2 B | 25.4 B | 23.6 B | 21.8 B | 21.2 B | 20.3 B | 20.1 B | 19.5 B | 18.7 B | 17.6 B | 16.9 B | 16.9 B | 16.7 B | 16.9 B | 16 B | 16 B | 16 B | 15.5 B | 15.5 B | 15.5 B | 15.5 B | 14.6 B | 14.6 B | 14.6 B | 14.6 B | 14.4 B | 14.4 B | 14.4 B | 14.4 B | 14.8 B | 14.8 B | 14.8 B | 14.8 B | 14.6 B | 14.6 B | 14.6 B | 14.6 B | 13.2 B | 13.2 B | 13.2 B | 13.2 B | 11.4 B | 11.4 B | 11.4 B | 11.4 B | 10.3 B | 10.3 B | 10.3 B | 10.3 B | 7.12 B | 7.12 B | 7.12 B | 7.12 B |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Welltower , providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Reit healthcare
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
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Global Medical REIT
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|
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Healthpeak Properties
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|
- | 2.09 % | $ 9.35 B | USA |
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The GEO Group
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|
$ 31.07 | -0.86 % | $ 4.27 B | USA |
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National Health Investors
NHI
|
$ 79.95 | -0.04 % | $ 3.75 B | USA |
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LTC Properties
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|
$ 41.77 | -0.67 % | $ 1.93 B | USA |
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Ventas
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|
$ 97.92 | 0.76 % | $ 44.6 B | USA |
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Sabra Health Care REIT
SBRA
|
$ 22.03 | 0.23 % | $ 5.32 B | USA |
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Omega Healthcare Investors
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|
$ 50.97 | 0.7 % | $ 14.9 B | USA |