Welltower (WELL) Q3 2025 10-Q Quarterly Report
Welltower (WELL) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 28, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Welltower Q3 2025 10-Q Analysis
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
Welltower Q3 2025 Quarterly FinancialsXBRL
Revenue
$2.1B
▲ +36.4% YoY▲ +4.6% QoQ
Net Income
$281M
▼ -37.6% YoY▼ -7.1% QoQ
Net Margin
13.6%
▼ -1615bp YoY▼ -171bp QoQ
Source: XBRL data from Welltower Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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