Outpatient Medical & Research Portfolio (Omr) was Ventas’s largest segment in fiscal 2025, bringing in $2.69B of $4.50B (60%).
| Statement, Business Segments | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2015 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Shop | $7.96B | $8.88B | $10.12B | — | ||||||
| Senior Living Operations | — | — | — | — | ||||||
| Total Revenues | — | — | — | — | ||||||
| Outpatient Medical & Research Portfolio (Omr) | $2.41B | $2.61B | $2.63B | $2.69B | ||||||
| Outpatient Medical & Research Portfolio | — | — | — | — | ||||||
| Nnn | $1.79B | $1.86B | $1.87B | $1.80B | ||||||
| Triple-Net Leased Properties | — | — | — | — | ||||||
| Triple Net Leased Properties | — | — | — | — | ||||||
| Mob Operations | — | — | — | — | ||||||
| All Other | — | — | — | — | ||||||
| Total | $12.16B | $13.34B | $14.62B | $4.50B |
Ventas brought in $4.50B from its two segments in fiscal 2025, the year ended December 31, 2025. Ventas regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $14.62B. Outpatient Medical & Research Portfolio (Omr) was the largest at $2.69B (59.9%), ahead of Nnn at $1.80B (40.1%).
Compared with fiscal 2024, Outpatient Medical & Research Portfolio (Omr) grew 2.3% to $2.69B, while Nnn fell 3.3% to $1.80B.
Ventas stopped reporting Shop as a separate segment after fiscal 2024, when it brought in $10.12B.
Canada was Ventas’s largest region in fiscal 2025, bringing in $1.66B of $1.87B (89%).
| Geography | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $10.96B | $12.01B | $13.10B | — | ||||||||||||
| Total Revenues | — | — | — | — | ||||||||||||
| Canada | $1.35B | $1.39B | $1.58B | $1.66B | ||||||||||||
| United Kingdom | $83.33M | $86.65M | $92.21M | $213.68M | ||||||||||||
| Total | $12.39B | $13.49B | $14.77B | $1.87B |
Ventas brought in $1.87B from its two regions in fiscal 2025, the year ended December 31, 2025. That is less than the $4.50B it reports by statement, business segments, so these regions do not cover all of its revenue. Canada was the largest at $1.66B (88.6%), ahead of United Kingdom at $213.68M (11.4%).
Compared with fiscal 2024, United Kingdom grew 131.7% to $213.68M and Canada grew 5.0% to $1.66B. Some of that change comes from Ventas regrouping its regions.
Ventas stopped reporting United States as a separate region after fiscal 2024, when it brought in $13.10B.
Ventas Subsidiaries was Ventas’s largest revenue line in fiscal 2014, bringing in $7.76B of $8.30B (93%).
| Legal Entity | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 |
|---|---|---|---|---|---|---|---|
| Ventas Subsidiaries | $4.35B | $6.57B | $7.01B | $7.76B | |||
| Total Revenues | — | — | — | — | |||
| Realestaterevenuenet | — | — | — | — | |||
| Ventas Issuers | — | — | — | — | |||
| Issuers | — | — | — | — | |||
| Ventas, Inc | $722.29M | $985.86M | $1.37B | — | |||
| Ventas Realty Limited Partnership | — | $826.26M | — | $542.80M | |||
| Ventas Realty (1) | $821.00M | — | — | — | |||
| Consolidated Elimination | -$699.68M | -$970.98M | — | — | |||
| Total | $5.20B | $7.41B | $8.38B | $8.30B |
Ventas brought in $8.30B from its two revenue lines in fiscal 2014, the year ended December 31, 2014. Ventas regrouped these revenue lines after fiscal 2013, so the total does not compare directly with that year's $8.38B. Ventas Subsidiaries was the largest at $7.76B (93.5%), ahead of Ventas Realty Limited Partnership at $542.80M (6.5%).
Ventas began breaking out Ventas Realty Limited Partnership in fiscal 2012, when it brought in $826.26M. Ventas stopped reporting Ventas, Inc ($1.37B in fiscal 2013) and Ventas Realty (1) ($821.00M in fiscal 2011) as separate revenue lines.
Ventas (VTR) reports its revenue by statement, business segments, by geography and by legal entity. In fiscal 2025, Outpatient Medical & Research Portfolio (Omr) was its largest segment, bringing in $2.69B (59.9% of the total), followed by Nnn at $1.80B (40.1%).
Outpatient Medical & Research Portfolio (Omr) was Ventas' largest segment in fiscal 2025, bringing in $2.69B, or 59.9% of the $4.50B total across its two segments.
Canada was Ventas' largest region in fiscal 2025, bringing in $1.66B, or 88.6% of the $1.87B total across its two regions.
Ventas Subsidiaries was Ventas' largest revenue line in fiscal 2014, bringing in $7.76B, or 93.5% of the $8.30B total across its two revenue lines.
Every figure comes from Ventas' annual financial filings, as reported. Each line keeps the name Ventas gives it, and years follow its fiscal calendar.
Ventas' revenue by statement, business segments goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.