Opening its latest reports…Reading every line of the four statements…Putting it into plain words…
WELLWelltower Inc.
The four financial statements
Every company that sells shares in the US files four statements with the SEC. Together they show whether Welltower made money, what it owns and owes, where its cash went, and what changed for its shareholders. Below is every line exactly as Welltower filed it, with what each one means in plain English.
As filed with the SEC on Feb 12, 2026 · the full report · SEC's figures viewer
Income statement · also called the statement of operations, statement of earnings or profit and loss
Did it make money?
Read it from the top down. It starts with everything customers paid (sales), takes away the cost of making what was sold, then the costs of running the company, then interest and tax. What is left at the bottom is profit (net income), the part that belongs to shareholders. It covers a stretch of time: a year, or a quarter.
- People usually check: Are sales growing compared with a year earlier?
- People usually check: How much of each dollar of sales is left at each step (the margins)?
- People usually check: Is profit growing faster or slower than sales?
This yearly report doesn't include a separate income statement in its tagged data.
Extra: What other gains and losses were there?Statement of comprehensive income: Profit, plus gains and losses that skip the income statement.
Some value changes don't count as profit yet: currency moves on businesses abroad, rises or falls in investments it hasn't sold, and some hedges and pension changes. They are added to profit here to give comprehensive income, and they build up in shareholders' equity.
Every line, explained
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| Revenues | |||
| $8.5B | $6.0B | $4.8B | |
| $2.0B | $1.6B | $1.6B | |
| $246.2M | $256.2M | $168.4M | |
| $170.9M | $137.5M | $159.8M | |
| $10.8B | $8.0B | $6.6B | |
| Expenses | |||
| $6.5B | $4.8B | $3.9B | |
| $2.1B | $1.6B | $1.4B | |
| $652.0M | $574.3M | $607.8M | |
| $1.7B | $235.5M | $179.1M | |
| $22.4M | −$27.9M | −$2.1M | |
| $9.2M | $2.1M | $7.0K | |
| −$9.4M | $10.1M | $9.8M | |
| $121.3M | $92.8M | $36.1M | |
| $201.2M | $117.5M | $108.3M | |
| $11.3B | $7.5B | $6.3B | |
| −$480.0M | $524.4M | $350.0M | |
| $7.1M | −$2.7M | −$6.4M | |
| −$14.3M | −$496.0K | −$53.4M | |
| $1.4B | $451.6M | $67.9M | |
| $961.8M | $972.9M | $358.1M | |
| $961.8M | $972.9M | $358.1M | |
| $25.0M | $21.2M | $18.0M | |
| $936.8M | $951.7M | $340.1M | |
| Weighted average number of common shares outstanding | |||
| 665.6M shares | 603.0M shares | 515.6M shares | |
| 679.5M shares | 608.8M shares | 518.7M shares | |
| Basic | |||
| $1.44 | $1.61 | $0.69 | |
| $1.41 | $1.58 | $0.66 | |
| Diluted | |||
| $1.42 | $1.60 | $0.69 | |
| $1.39 | $1.57 | $0.66 | |
| Other comprehensive income (loss) | |||
| $677.0M | −$327.1M | $223.9M | |
| −$605.9M | $166.3M | −$245.1M | |
| $71.1M | −$160.7M | −$21.2M | |
| $1.0B | $812.1M | $337.0M | |
| $24.0M | $10.1M | $27.6M | |
| $1.0B | $802.0M | $309.3M | |