Ventas (VTR) Operating Expenses (2009 - 2026)
Ventas' Operating Expenses was $1.68 billion in Q2 2026, up 21.6% from $1.38 billion a year earlier and up 3.3% from the prior quarter.
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Analysis
Ventas (VTR) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Ventas' Operating Expenses was $6.23 billion through Jun 30, 2026, up 19.8% year-over-year; for FY2025, it came in at $5.63 billion, up 14.1% from FY2024.
- Operating Expenses has now increased for nine consecutive years, with a five-year compound annual growth rate of 8.7% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $4.93 billion in FY2024 (+6.9%), $4.61 billion in FY2023 (+9.2%), $4.22 billion in FY2022 (+5.8%) and $3.99 billion in FY2021 (+7.4%).
- The Q2 2026 figure marks the highest quarterly Operating Expenses in data going back to Q1 2009.
- Compared with a year earlier, Operating Expenses has increased for seven straight quarters, with growth averaging 12.6% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q4 2021 (growth of 28.1%); the worst was Q2 2023 (a decline of 2.2%).
- Per Business Quant data, VTR's Operating Expenses in the three quarters before Q2 2026 was $1.62 billion (Q1 2026), $1.49 billion (Q4 2025) and $1.44 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 167.90 Bn | 150.42 Bn | 1.39 Bn | 3.22 Bn |
| 2 | Prologis | 123.74 Bn | 128.13 Bn | - | 1.47 Bn |
| 3 | Simon Property | 66.68 Bn | 67.94 Bn | - | 900.79 Mn |
| 4 | Realty Income | 52.20 Bn | 54.59 Bn | - | 1.19 Bn |
| 5 | Public Storage | 50.15 Bn | 49.24 Bn | - | 766.20 Mn |
| 6 | Ventas | 44.59 Bn | 43.78 Bn | - | 1.68 Bn |
| 7 | Extra Space Storage | 28.21 Bn | 28.21 Bn | 642.43 Mn | 481.97 Mn |
| 8 | Vici Properties | 25.53 Bn | 23.65 Bn | 1.05 Bn | 315.61 Mn |
| 9 | Vivmark Residential | 23.00 Bn | 23.19 Bn | - | 566.18 Mn |
| 10 | Invitation Homes | 15.69 Bn | 15.73 Bn | - | 657.51 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.68 Bn |
| Mar 31, 2026 | 1.62 Bn |
| Dec 31, 2025 | 1.49 Bn |
| Sep 30, 2025 | 1.44 Bn |
| Jun 30, 2025 | 1.38 Bn |
| Mar 31, 2025 | 1.32 Bn |
| Dec 31, 2024 | 1.29 Bn |
| Sep 30, 2024 | 1.22 Bn |
| Jun 30, 2024 | 1.22 Bn |
| Mar 31, 2024 | 1.21 Bn |
| Dec 31, 2023 | 1.28 Bn |
| Sep 30, 2023 | 1.23 Bn |
| Jun 30, 2023 | 1.04 Bn |
| Mar 31, 2023 | 1.07 Bn |
| Dec 31, 2022 | 1.13 Bn |
| Sep 30, 2022 | 1.04 Bn |
| Jun 30, 2022 | 1.07 Bn |
| Mar 31, 2022 | 979.64 Mn |
| Dec 31, 2021 | 1.09 Bn |
| Sep 30, 2021 | 1.06 Bn |
API Access
Ventas Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=VTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "VTR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=VTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();