Welltower (WELL) Cost of Revenue (2018 - 2026)
Welltower's Cost of Revenue came in at $2.15 billion for Q2 2026, up 41.9% from $1.51 billion a year earlier and up 4.6% from the prior quarter.
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Analysis
Welltower (WELL) Cost of Revenue (2018 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Welltower reported Cost of Revenue of $7.72 billion, up 37.8% year-over-year; for FY2025, it was $6.49 billion, up 34.3% from FY2024.
- Cost of Revenue has increased in each of the last five years, with a five-year compound annual growth rate of 20.1% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $4.83 billion in FY2024 (+22.4%), $3.95 billion in FY2023 (+10.9%), $3.56 billion in FY2022 (+28.3%) and $2.77 billion in FY2021 (+6.8%).
- The Q2 2026 figure represents the highest quarterly Cost of Revenue in data going back to Q1 2018.
- Year-over-year, Cost of Revenue has increased for 20 consecutive quarters, with growth averaging 34.7% over the last eight quarters.
- Across the past five years, year-over-year growth in Cost of Revenue ran from 9.1% in Q3 2023 to 41.9% in Q2 2026.
- Business Quant data shows WELL's Cost of Revenue at $2.06 billion (Q1 2026), $1.93 billion (Q4 2025) and $1.58 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 164.16 Bn | 146.67 Bn | 1.39 Bn | 2.15 Bn |
| 2 | Prologis | 120.28 Bn | 124.68 Bn | - | - |
| 3 | Simon Property | 68.97 Bn | 70.18 Bn | - | - |
| 4 | Realty Income | 51.22 Bn | 53.60 Bn | - | - |
| 5 | Public Storage | 49.85 Bn | 48.94 Bn | - | - |
| 6 | Ventas | 43.09 Bn | 42.28 Bn | - | - |
| 7 | Extra Space Storage | 28.15 Bn | 28.15 Bn | 642.43 Mn | 231.72 Mn |
| 8 | Vici Properties | 24.95 Bn | 23.07 Bn | 1.05 Bn | 7.40 Mn |
| 9 | Vivmark Residential | 22.41 Bn | 22.60 Bn | - | - |
| 10 | Essex Property Trust | 17.26 Bn | 17.42 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.15 Bn |
| Mar 31, 2026 | 2.06 Bn |
| Dec 31, 2025 | 1.93 Bn |
| Sep 30, 2025 | 1.58 Bn |
| Jun 30, 2025 | 1.51 Bn |
| Mar 31, 2025 | 1.46 Bn |
| Dec 31, 2024 | 1.41 Bn |
| Sep 30, 2024 | 1.21 Bn |
| Jun 30, 2024 | 1.11 Bn |
| Mar 31, 2024 | 1.10 Bn |
| Dec 31, 2023 | 1.04 Bn |
| Sep 30, 2023 | 995.27 Mn |
| Jun 30, 2023 | 958.67 Mn |
| Mar 31, 2023 | 957.75 Mn |
| Dec 31, 2022 | 938.84 Mn |
| Sep 30, 2022 | 912.18 Mn |
| Jun 30, 2022 | 854.08 Mn |
| Mar 31, 2022 | 853.67 Mn |
| Dec 31, 2021 | 785.18 Mn |
| Sep 30, 2021 | 729.40 Mn |
API Access
Welltower Cost of Revenue 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=cost-of-revenue&ticker=WELL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "WELL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=WELL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();