Filing Flows › Ventas (VTR) › Q3 2026 › vs Q3 2025
Ventas (VTR) Q3 2026 vs Q3 2025 (year over year)
Ventas's revenue rose $343M (+23%) from $1.5B in Q3 2025 to $1.8B in Q3 2026. Operating margin 2.9% against 3.0% (-0.1 pts).
Ventas, Q3 2026: revenue $1.8B (+23% year over year), operating margin 2.9%, net earnings $65.4M, operating cash flow $490M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 2.9% | 3.0% | -0.1 pts |
| Net margin | 3.6% | 4.4% | -0.9 pts |
| Free cash flow margin | 23.2% | 21.5% | +1.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $1.8B | $1.5B | $343M | +23% |
| Operating profit | $52.6M | $44.4M | $8.2M | +18% |
| Costs & expenses | $1.8B | $1.4B | $335M | +23% |
| Pre-tax earnings | $48.0M | $62.4M | −$14.4M | -23% |
| General & admin | $47.7M | $40.4M | $7.3M | +18% |
| Other operating costs | $1.7B | $1.4B | $327M | +23% |
| Income tax benefit | $19.3M | $6.3M | $13.0M | +204% |
| Net earnings | $65.4M | $66.0M | −$667K | -1% |
| Minority interests | $1.9M | $2.7M | −$760K | -29% |
| Depreciation & amortization | $446M | $357M | $88.8M | +25% |
| Share-based compensation | $5.9M | $5.9M | $21K | +0.4% |
| Working capital & other | $27.7M | $50.5M | −$22.8M | -45% |
| Operating cash flow | $490M | $379M | $111M | +29% |
| Free cash flow (OCF − capex) | $425M | $320M | $105M | +33% |
| Capital expenditures | $64.6M | $58.9M | $5.8M | +10% |
Questions
How much did Ventas's revenue grow year over year in Q3 2026?
Ventas's revenue rose $343M (+23%) from $1.5B in Q3 2025 to $1.8B in Q3 2026. Operating margin 2.9% against 3.0% (-0.1 pts).