Filing Flows › Welltower (WELL) › Q3 2026 › vs Q2 2026
Welltower (WELL) Q3 2026 vs Q2 2026 (quarter over quarter)
Welltower's revenue rose $171M (+5%) from $3.5B in Q2 2026 to $3.7B in Q3 2026. Operating margin 9.1% against 9.0% (+0.1 pts).
Welltower, Q3 2026: revenue $3.7B (+38% year over year), operating margin 9.1%, net earnings $397M, operating cash flow $1.0B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 9.1% | 9.0% | +0.1 pts |
| Net margin | 10.7% | 12.6% | -1.9 pts |
| Free cash flow margin | 17.6% | 19.3% | -1.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $3.7B | $3.5B | $171M | +5% |
| Other income, net | $84.0M | $80.6M | $3.4M | +4% |
| Operating profit | $338M | $320M | $17.5M | +5% |
| Costs & expenses | $3.4B | $3.2B | $154M | +5% |
| Pre-tax earnings | $422M | $401M | $20.9M | +5% |
| Cost of revenue | $2.2B | $2.2B | $95.9M | +4% |
| SG&A | $67.2M | $67.5M | −$317K | -0.5% |
| Other operating costs | $1.1B | $1.0B | $58.1M | +6% |
| Net earnings | $397M | $445M | −$48.4M | -11% |
| Minority interests | $18.2M | $18.0M | $263K | +1% |
| Income tax | $7.1M | −$62.0M | $69.1M | — |
| Depreciation & amortization | $707M | $738M | −$31.0M | -4% |
| Share-based compensation | $22.3M | $16.5M | $5.7M | +35% |
| Working capital & other | $123M | $196M | −$73.1M | -37% |
| Operating cash flow | $1.0B | $1.0B | −$579K | -0.1% |
| Free cash flow (OCF − capex) | $655M | $684M | −$29.3M | -4% |
| Capital expenditures | $348M | $319M | $28.7M | +9% |
Questions
How much did Welltower's revenue grow quarter over quarter in Q3 2026?
Welltower's revenue rose $171M (+5%) from $3.5B in Q2 2026 to $3.7B in Q3 2026. Operating margin 9.1% against 9.0% (+0.1 pts).