Filing Flows › Welltower (WELL) › How it makes money
How Welltower (WELL) makes money
Welltower (WELL) made $3.7B of revenue in the third quarter 2026 (Q3 2026), +38% from a year earlier. Of every dollar of revenue, 9¢ was left as operating profit, 11¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $3.7B | 100.0% |
| Operating profit | $338M | 9.1% |
| Income tax | $7.1M | 0.2% |
| Net earnings | $397M | 10.7% |
| Operating cash flow | $1.0B | 27.0% |
| Free cash flow | $655M | 17.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $3.7B | +38% |
| Q2 2026 | $3.5B | +39% |
| Q1 2026 | $3.4B | +38% |
| Q4 2025 | $3.2B | +41% |
| Q3 2025 | $2.7B | +31% |
| Q2 2025 | $2.5B | +40% |
| Q1 2025 | $2.4B | +30% |
From Welltower's 10-Q filed Oct 27, 2026 (on EDGAR).
Questions
How does Welltower make money?
Welltower (WELL) made $3.7B of revenue in the third quarter 2026 (Q3 2026), +38% from a year earlier. Of every dollar of revenue, 9¢ was left as operating profit, 11¢ was left as net earnings.
What is Welltower's profit margin?
Net earnings were $397M, 10.7% of revenue, in the third quarter 2026; the operating margin was 9.1%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.