Filing Flows › Ventas (VTR) › Q1 2025
Ventas (VTR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Ventas (VTR) reported revenue of $1.4B for the first quarter 2025 (Q1 2025), +13% from a year earlier and +6% from the quarter before. Operating margin was 3.0%, net earnings $46.9M (3.5% of revenue).
Ventas, Q1 2025: revenue $1.4B (+13% year over year), operating margin 3.0%, net earnings $46.9M, operating cash flow $321M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +6% | +13% |
| Operating profit | $40.9M | — | — |
| Net earnings | $46.9M | -18% | — |
| Operating cash flow | $321M | -14% | +21% |
| Free cash flow | $263M | -10% | +173% |
What changed
Revenue was $1.4B in Q1 2025, up 13% year over year and up 6% from the previous quarter.
Operating profit was $0.04B, a 3.0% margin (up 3.6 points year over year). Total costs grew 9% against revenue growth of 13%. Net earnings were $0.05B. The effective tax rate was -27.9%.
Operating cash flow was $0.32B (up 21% year over year), 664% of net income including minority interests. Non-cash charges added back $0.32B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.06B left free cash flow of $0.26B.
Questions
What was Ventas' revenue in the first quarter 2025?
Ventas (VTR) reported revenue of $1.4B for the first quarter 2025 (Q1 2025), +13% from a year earlier and +6% from the quarter before.
Was Ventas profitable in the first quarter 2025?
Operating profit was $40.9M (3.0% of revenue) and net earnings $46.9M.
Source: Ventas 10-Q on SEC EDGAR.