Welltower (WELL) Operating Leases (2018 - 2026)
Welltower (WELL) posted quarterly Operating Leases of $2.0 billion for Q2 2026, up 49.33% year-over-year from $1.3 billion in Q2 2025, and down 2.77% quarter-over-quarter from $2.1 billion in Q1 2026.
Welltower (WELL) Operating Leases (2018 - 2026) Analysis & Trends
Welltower (WELL) has reported Operating Leases for 9 consecutive years, with $2.0 billion the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Leases rose 49.33% year-over-year to $2.0 billion; the TTM figure through Jun 2026 stood at $2.0 billion (up 49.33% YoY), while the FY2025 annual figure was $2.2 billion, up 73.52% from the prior year.
- Operating Leases declined to $2.0 billion in Q2 2026 per WELL's latest filing, from $2.1 billion in the prior quarter.
- Across five years, Operating Leases topped out at $2.2 billion in Q4 2025 and bottomed at $66.5 million in Q1 2023.
- Historically, Operating Leases has averaged $863.2 million across 5 years, with a median of $413.3 million in 2022.
- Annual changes were most pronounced in 2023 — Operating Leases tumbled 87.88% — and 2024, when it surged 473.15%.
- Welltower's Operating Leases stood at $415.8 million in 2022, then decreased by 7.84% to $383.2 million in 2023, then soared by 228.29% to $1.3 billion in 2024, then surged by 73.52% to $2.2 billion in 2025, then fell by 8.63% to $2.0 billion in 2026.
- Business Quant data shows WELL's Operating Leases at $2.0 billion in Q2 2026, $2.1 billion in Q1 2026, and $2.2 billion in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Welltower | 168.28 Bn | 166.31 Bn | 1.39 Bn |
| 2 | Ventas | 45.36 Bn | 45.17 Bn | 1.73 Bn |
| 3 | Healthpeak Properties | 14.65 Bn | 14.65 Bn | - |
| 4 | Omega Healthcare Investors | 13.98 Bn | 13.98 Bn | - |
| 5 | American Healthcare REIT | 10.76 Bn | 10.56 Bn | 149.41 Mn |
| 6 | CareTrust REIT | 9.30 Bn | 9.30 Bn | - |
| 7 | Healthcare Realty Trust | 6.66 Bn | 6.66 Bn | - |
| 8 | Sabra Health Care REIT | 5.18 Bn | 5.18 Bn | - |
| 9 | Diversified Healthcare Trust | 4.52 Bn | 4.40 Bn | 298.67 Mn |
| 10 | National Health Investors | 3.58 Bn | 3.58 Bn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.99 Bn |
| Mar 31, 2026 | 2.05 Bn |
| Dec 31, 2025 | 2.18 Bn |
| Sep 30, 2025 | 1.31 Bn |
| Jun 30, 2025 | 1.34 Bn |
| Mar 31, 2025 | 1.29 Bn |
| Dec 31, 2024 | 1.26 Bn |
| Sep 30, 2024 | 392.36 Mn |
| Jun 30, 2024 | 393.67 Mn |
| Mar 31, 2024 | 381.32 Mn |
| Dec 31, 2023 | 383.23 Mn |
| Sep 30, 2023 | 365.12 Mn |
| Jun 30, 2023 | 348.77 Mn |
| Mar 31, 2023 | 66.53 Mn |
| Dec 31, 2022 | 415.82 Mn |
| Sep 30, 2022 | 410.42 Mn |
| Jun 30, 2022 | 410.72 Mn |
| Mar 31, 2022 | 549.00 Mn |
| Dec 31, 2021 | 545.94 Mn |
| Sep 30, 2021 | 544.55 Mn |