Filing Flows › Welltower (WELL) › Q3 2026
Welltower (WELL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 27, 2026
Welltower (WELL) reported revenue of $3.7B for the third quarter 2026 (Q3 2026), +38% from a year earlier and +5% from the quarter before. Operating margin was 9.1%, net earnings $397M (10.7% of revenue).
Welltower, Q3 2026: revenue $3.7B (+38% year over year), operating margin 9.1%, net earnings $397M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | +5% | +38% |
| Operating profit | $338M | +5% | +15% |
| Net earnings | $397M | -11% | +41% |
| Operating cash flow | $1.0B | -0.1% | +17% |
| Free cash flow | $655M | -4% | +10% |
What changed
Revenue was $3.7B in Q3 2026, up 38% year over year and up 5% from the previous quarter.
Operating profit was $0.34B, a 9.1% margin (down 1.8 points year over year). Of the extra revenue versus Q3 2025, 4% reached operating profit, below the 11% margin then. Total costs grew 41% against revenue growth of 38%. The fastest-growing cost line was Cost of revenue (+42%). Net earnings were $0.40B, up 41% year over year. The effective tax rate was 1.7%.
Operating cash flow was $1.0B (up 17% year over year), 242% of net income including minority interests. Non-cash charges added back $0.71B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.14B. Capital expenditures of $0.35B left free cash flow of $0.66B.
Questions
What was Welltower's revenue in the third quarter 2026?
Welltower (WELL) reported revenue of $3.7B for the third quarter 2026 (Q3 2026), +38% from a year earlier and +5% from the quarter before.
Was Welltower profitable in the third quarter 2026?
Operating profit was $338M (9.1% of revenue) and net earnings $397M.
Source: Welltower 10-Q on SEC EDGAR.