# Welltower Inc. (WELL) — Stock CV

Welltower Inc. is a $162B real estate company. Revenue grew 37.6% over the last year, and it keeps 12¢ of every dollar of sales as profit. It trades at 108.1× earnings — around the middle of its own history.

> Welltower owns a diversified healthcare portfolio of 2,950 in-place properties spread across the senior housing, medical office, and skilled nursing/postacute care sectors.

## Identity

- **Ticker**: WELL
- **Sector**: Real Estate
- **Industry**: Real Estate Investment Trusts
- **Headquarters**: TOLEDO, OH
- **Employees**: 712
- **Website**: https://www.welltower.com
- **Market cap**: $162B
- **Last price**: $225.47
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $12.8B
- **Net income**: $1.55B
- **Free cash flow**: $2.02B
- **P/E**: 108.1
- **Revenue growth (YoY)**: 37.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 22 |
| Growth | 75 |
| Profitability | 35 |
| Health | 15 |
| Quality | 90 |
| Moat | 50 |

## Qualifications (beginner checklist) — 7 of 11 passed

- [x] Revenue growing — +37.6% YoY
- [x] Profitable — $1.55B TTM
- [x] Profit growing — +66.7% YoY
- [x] Generates cash — $2.02B TTM
- [ ] Debt under control — current ratio 1.06
- [x] Established company — $162B market cap
- [ ] Not printing shares — +62.8% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 15/100
- [x] Pays a dividend — yield 1.22%
- [ ] Valuation not extreme — P/E 108.1

## Experience (career milestones)

- **Q3 2026** — 2 open-market insider purchases: ~5K shares bought by insiders
- **FY2025** — Revenue crossed $10B: $10.8B for the year
- **2025** — According to researchers at Corporate Watch, Welltower’s acquisition of the UK’s largest care home providers HC-One…
- **FY2019** — Best year on record: $1.23B net income
- **2018** — Welltower and ProMedica acquired Healthpeak Properties spin-off Quality Care Properties, along with…
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $4.28B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2016** — Welltower acquired 19 properties from Vintage Senior Living for $1.15 billion in the Los Angeles and San Francisco…
- **2015** — The company next became Welltower, in September 2015
- **2015** — Welltower formed a joint venture with the Canada Pension Plan Investment Board (CPPIB) to acquire a…
- **Jan 8, 2013** — The company acquired nearly all the real estate assets of Sunrise Senior Living in a $4.3…
- **2012** — The company invested about $5 billion, primarily in private-pay senior housing and medical office buildings
- **2011** — The company acquired most real estate assets of Genesis HealthCare for $2.4 billion, adding 147 properties,…
- **1985** — Health Care Fund changed its name to Health Care REIT in 1985, moving its headquarters to Toledo the following year
- **1970** — Health Care Fund was founded in Lima by Wolfe and Bruce Thompson

## Strengths

- High gross margin (40.3%)
- Revenue growing 37.6% year over year
- Strong cash conversion — FCF is 15.8% of revenue

## Watch-outs

- Thin interest coverage (0.3×)

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $4.74B | $336M | $993M |
| FY2022 | $5.86B | $141M | $853M |
| FY2023 | $6.64B | $340M | $1.08B |
| FY2024 | $7.99B | $952M | $1.40B |
| FY2025 | $10.8B | $937M | $1.83B |

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Source: https://stockcv.com/WELL — derived from company filings; may be delayed or incomplete. Information, not investment advice.