Welltower (WELL) FY2024 results: revenue $8.0 billion, up 20.4% on the year
Welltower Inc. (WELL) reported revenue of $8.0 billion for fiscal 2024, the year ended 31 December 2024, up 20.4% on the year before. Net income was $952 million, up 179.8%, and diluted earnings per share $1.57. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2025.
Revenue
$8.0 billion
+20.4% on the year
FY2017FY2024
Operating margin
6.6%
5.3% a year earlier
FY2017FY2024
Net income
$952 million
+179.8% on the year
FY2017FY2024
Diluted EPS
$1.57
+137.9% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,256
1,602
1,329
+40.9%
Capital expenditure
858
518
476
+65.7%
Free cash flow
1,399
1,084
853
+29.0%
Free cash flow margin
17.5%
16.3%
14.5%
Cash from investing
-5,515
-5,708
-3,704
Cash from financing
4,905
5,449
2,761
-10.0%
Depreciation and amortisation
1,632
1,401
1,310
+16.5%
Share-based compensation
75.8
37.2
26.1
+103.8%
Buybacks
n/a
n/a
0.0
Dividends paid
1,546
1,260
1,133
+22.8%
Dividend per share
$2.56
$2.44
$2.44
+4.9%
Diluted shares, weighted
609m
519m
465m
+17.4%
Shares outstanding at period end
635m
564m
491m
+12.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
31,956
25,404
20,295
+25.8%
Non-controlling interest
360
677
715
-46.8%
Redeemable equity
256
291
384
-11.8%
Debt
15,500
15,736
14,714
-1.5%
Other liabilities
2,971
1,905
1,785
+56.0%
Total liabilities and equity
51,044
44,012
37,893
+16.0%
Goodwill
149
68.3
68.3
+118.4%
Intangible assets
666
515
461
+29.4%
Cash and equivalents
3,507
1,994
632
+75.9%
Other assets
46,723
41,435
36,732
+12.8%
Total assets
51,044
44,012
37,893
+16.0%
10-K for the year ended 31 December 2024, filed 12 February 2025: the filing.