Filing Flows › Welltower (WELL) › Q3 2026 › vs Q3 2025
Welltower (WELL) Q3 2026 vs Q3 2025 (year over year)
Welltower's revenue rose $1.0B (+38%) from $2.7B in Q3 2025 to $3.7B in Q3 2026. Operating margin 9.1% against 10.9% (-1.8 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 9.1% | 10.9% | -1.8 pts |
| Net margin | 10.7% | 10.4% | +0.2 pts |
| Free cash flow margin | 17.6% | 22.2% | -4.5 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $3.7B | $2.7B | $1.0B | +38% |
| Other income, net | $84.0M | −$8.6M | $92.6M | — |
| Operating profit | $338M | $293M | $44.8M | +15% |
| Costs & expenses | $3.4B | $2.4B | $985M | +41% |
| Pre-tax earnings | $422M | $285M | $137M | +48% |
| Cost of revenue | $2.2B | $1.6B | $669M | +42% |
| SG&A | $67.2M | $63.1M | $4.0M | +6% |
| Other operating costs | $1.1B | $752M | $312M | +41% |
| Net earnings | $397M | $281M | $116M | +41% |
| Minority interests | $18.2M | $1.6M | $16.6M | 11× |
| Income tax | $7.1M | $2.3M | $4.8M | +205% |
| Depreciation & amortization | $707M | $510M | $197M | +39% |
| Share-based compensation | $22.3M | $15.6M | $6.7M | +43% |
| Working capital & other | $123M | −$52.4M | $175M | — |
| Operating cash flow | $1.0B | $858M | $145M | +17% |
| Free cash flow (OCF − capex) | $655M | $595M | $59.8M | +10% |
| Capital expenditures | $348M | $263M | $84.9M | +32% |
Questions
How much did Welltower's revenue grow year over year in Q3 2026?
Welltower's revenue rose $1.0B (+38%) from $2.7B in Q3 2025 to $3.7B in Q3 2026. Operating margin 9.1% against 10.9% (-1.8 pts).