Filing Flows › Welltower (WELL) › Q2 2026 › vs Q1 2026
Welltower (WELL) Q2 2026 vs Q1 2026 (quarter over quarter)
Welltower's revenue rose $193M (+6%) from $3.4B in Q1 2026 to $3.5B in Q2 2026. Operating margin 9.0% against 10.3% (-1.3 pts).
Welltower, Q2 2026: revenue $3.5B (+39% year over year), operating margin 9.0%, net earnings $445M, operating cash flow $1.0B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 9.0% | 10.3% | -1.3 pts |
| Net margin | 12.6% | 21.7% | -9.2 pts |
| Free cash flow margin | 19.3% | 11.9% | +7.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $3.5B | $3.4B | $193M | +6% |
| Other income, net | $80.6M | $419M | −$338M | -81% |
| Operating profit | $320M | $345M | −$24.8M | -7% |
| Costs & expenses | $3.2B | $3.0B | $217M | +7% |
| Pre-tax earnings | $401M | $764M | −$363M | -48% |
| Cost of revenue | $2.2B | $2.1B | $94.7M | +5% |
| SG&A | $67.5M | $67.5M | $12K | 0% |
| Other operating costs | $1.0B | $884M | $123M | +14% |
| Income tax benefit | $62.0M | −$11.6M | $73.6M | — |
| Net earnings | $445M | $729M | −$284M | -39% |
| Minority interests | $18.0M | $23.7M | −$5.7M | -24% |
| Depreciation & amortization | $738M | $623M | $115M | +18% |
| Share-based compensation | $16.5M | $18.8M | −$2.3M | -12% |
| Working capital & other | $196M | $700M | −$505M | -72% |
| Operating cash flow | $1.0B | $670M | $334M | +50% |
| Free cash flow (OCF − capex) | $684M | $400M | $284M | +71% |
| Capital expenditures | $319M | $270M | $49.5M | +18% |
Questions
How much did Welltower's revenue grow quarter over quarter in Q2 2026?
Welltower's revenue rose $193M (+6%) from $3.4B in Q1 2026 to $3.5B in Q2 2026. Operating margin 9.0% against 10.3% (-1.3 pts).