Welltower (WELL) 10-K Summary — Year Ended Dec 31, 2024
Welltower Inc. filed its annual report for the most recent fiscal year, reporting increased revenue and net income. Operating cash flow exceeded net income, and the company's revenue has grown consistently over recent years.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
Welltower Inc. filed its annual report for the most recent fiscal year, reporting increased revenue and net income. Operating cash flow exceeded net income, and the company's revenue has grown consistently over recent years.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$6B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$972.9M
Net income reported for the year.
Operating cash flow
$2.3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $3.2B | n/a |
| Dec 31, 2022 | $4.2B | +30.5% |
| Dec 31, 2023 | $4.8B | +13.9% |
| Dec 31, 2024 | $6B | +26.8% |
Business overview
The company is a real estate investment trust that owns and operates properties in the healthcare and senior housing sectors. Its business focus includes investing in facilities that serve aging populations and individuals with medical needs. The filing describes operations across multiple property types within these segments.
Financial performance
Revenue increased compared to the prior year, continuing a multi-year upward trend. Net income was reported at a level below revenue but significantly higher than operating cash flow, which also remained substantial. The company did not disclose operating income in its selected financial data.
Material risks
The filing includes a dedicated section on risk factors, covering matters such as the company's reliance on healthcare industry conditions, regulatory changes, and operational challenges in senior housing. Cybersecurity risks are also explicitly addressed in a separate item. The filing does not provide detail on unresolved staff comments.
Liquidity and capital
The management discussion and analysis includes a section on liquidity and capital resources, which describes sources and uses of cash. The company generated operating cash flow that exceeded net income, indicating internal cash generation supported its capital needs.
What to watch
Investors should monitor the next filing for any updates on unresolved staff comments or changes in the company's risk factor disclosures.