Short answer
Welltower (WELL) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $2.1B (up 36.4% year over year) with net income of $281M.
Q3 2025 key financials · XBRL
- Revenue
- $2.1B
- +36.4% YoY · +4.6% QoQ
- Net income
- $281M
- −37.6% YoY · −7.1% QoQ
- EPS (diluted)
- $0.41
- −44.6% YoY · −8.9% QoQ
Source: XBRL data from the Welltower (WELL) Q3 2025 10-Q on SEC EDGAR. USD.
Welltower Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1.109B for Q3 2025, up 31% YoY from $843M in Q3 2024; Nine months revenue $3.103B, up 34% YoY from $2.319B
- Operating margin (NOI/Revenue) approx. 100% (NOI $1.109B vs revenue $1.109B Q3 2025); SSNOI $601M up 14% from $526M YoY Q3
- Best segment: Seniors Housing Operating NOI $571M up 51% YoY ($378M Q3 2024); Worst: Non-segment/Corporate net loss $126M worsened 33% YoY ($95M Q3 2024)
- Cash and equivalents increased to $6.81B at 9/30/25 from $3.78B at 9/30/24; Operating cash flow $2.23B YTD up $530M; Capital expenditures $1.07B, down 9% YoY
- Management completed major acquisitions totaling billions, entered new $7.5B ATM equity program, disposed outpatient portfolio for $6B; Q4 2025+ pipeline active; dividend declared $0.74/share
Risk Factors
- No material changes in risk factors since 2024 10-K, carried-forward operational, market, financial, and regulatory risks remain applicable
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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