Aureus
AExcellent

Welltower Inc.(WELL)

A

Financial data as of Dec 31, 2025Improving · Real Estate

FCF Margin26.7%Free Cash Flow / Revenue
Cash Conversion—Operating CF / Net Income
Free Cash Flow$2.8B
Revenue$10.7B
Net Cash-$16.3BNet debt position
Debt / FCF7.5xElevated debt burden
Current Ratio5.34Adequate short-term liquidity
YoY FCF Growth+18.7%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-1High debt-to-FCF ratio (7.5x)
→
+0.5Healthy FCF margin with manageable debt (26.7%, 7.5x)
→
+1Strong YoY FCF growth (18.7% YoY)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (26.7%)
  • Strong liquidity (current ratio: 5.34)
  • Highly consistent quarterly FCF
  • FCF trend is improving

Concerns

  • Heavy debt position ($16.3B net debt, 7.5x FCF)
  • High debt-to-FCF ratio (7.5x)
Cash conversion ratio unavailable or not meaningful

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin26.7%
Net Margin8.8%
Operating CF Margin27.0%
CapEx Ratio0.3%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$16.3BNet debt position
Debt / FCF7.5xElevated debt burden
Current Ratio5.34Strong liquidity
Debt / Equity0.51Low leverage

Quarterly FCF Trend

+18.7% YoYImproving (+18.7%)

Free cash flow per quarter

Sector Comparison — Real Estate

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameWelltower Inc.
SectorReal Estate
Free Cash Flow$2.8B
Revenue$10.7B
Net Income$936.8M
Operating Cash Flow$2.9B
Capital Expenditure$33.8M
FCF Margin26.7%
Cash Conversion Rate—
Net Margin8.8%
Total Debt$21.4B
Total Cash$5.0B
Net Cash-$16.3B
Current Ratio5.34
Debt / Equity0.51
Debt / FCF7.5x
YoY FCF Growth+18.7%
Positive Quarters5 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance