Seniors Housing Operating was Welltower’s largest segment in fiscal 2025, bringing in $8.49B of $10.84B (78%).
| Segment | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Seniors Housing Operating | $4.24B | $4.76B | $6.04B | $8.49B | ||||||||||||
| Triple-Net | $790.71M | $887.11M | $788.77M | $1.20B | ||||||||||||
| Triple Net | — | — | — | — | ||||||||||||
| Senior Housing Facilities Operating | — | — | — | — | ||||||||||||
| Outpatient Medical | $678.46M | $750.49M | $802.11M | $781.93M | ||||||||||||
| Senior Housing Facilities Triple Net | — | — | — | — | ||||||||||||
| Medical Facilities | — | — | — | — | ||||||||||||
| Non-Segment/Corporate | $153.90M | $236.85M | $364.77M | $369.97M | ||||||||||||
| Non-Segment / Corporate | — | — | — | — | ||||||||||||
| Corporate, Non-Segment | — | — | — | — | ||||||||||||
| Non Segment Corporate | — | — | — | — | ||||||||||||
| Total | $5.86B | $6.64B | $7.99B | $10.84B |
Welltower brought in $10.84B from its four segments in fiscal 2025, the year ended December 31, 2025. That was up 35.6% from $7.99B in fiscal 2024. Seniors Housing Operating was the largest at $8.49B (78.3%), ahead of Triple-Net at $1.20B (11.0%) and Outpatient Medical at $781.93M (7.2%). The remaining segment, Non-Segment/Corporate, brought in $369.97M.
Compared with fiscal 2024, Triple-Net grew fastest, up 51.8% to $1.20B, while Outpatient Medical fell the most, down 2.5% to $781.93M. From fiscal 2022 to 2025, combined revenue from these segments grew from $5.86B to $10.84B, a compound annual growth rate of 22.7%. Seniors Housing Operating's share of the total rose from 72.3% to 78.3%.
United States was Welltower’s largest region in fiscal 2025, bringing in $7.94B of $10.84B (73%).
| Geography | 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 | $4.84B | $5.52B | $6.56B | $7.94B | ||||||||
| Domestic Country | — | — | — | — | ||||||||
| United Kingdom | $558.31M | $606.75M | $872.48M | $2.17B | ||||||||
| Gb | — | — | — | — | ||||||||
| Canada | $458.89M | $509.31M | $554.56M | $734.34M | ||||||||
| Ca | — | — | — | — | ||||||||
| Total | $5.86B | $6.64B | $7.99B | $10.84B |
Welltower brought in $10.84B from its three regions in fiscal 2025, the year ended December 31, 2025. That was up 35.6% from $7.99B in fiscal 2024. United States was the largest at $7.94B (73.2%), ahead of United Kingdom at $2.17B (20.0%) and Canada at $734.34M (6.8%).
Compared with fiscal 2024, United Kingdom grew fastest, up 148.4% to $2.17B. Every region above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these regions grew from $5.86B to $10.84B, a compound annual growth rate of 22.7%. United States' share of the total fell from 82.6% to 73.2%.
Welltower (WELL) reports its revenue by segment and by geography. In fiscal 2025, Seniors Housing Operating was its largest segment, bringing in $8.49B (78.3% of the total), followed by Triple-Net at $1.20B (11.0%).
Seniors Housing Operating was Welltower's largest segment in fiscal 2025, bringing in $8.49B, or 78.3% of the $10.84B total across its four segments.
United States was Welltower's largest region in fiscal 2025, bringing in $7.94B, or 73.2% of the $10.84B total across its three regions.
Among Welltower's segments that make up at least 2% of revenue, Triple-Net grew fastest in fiscal 2025, up 51.8% from $788.77M to $1.20B.
Every figure comes from Welltower's annual financial filings, as reported. Each line keeps the name Welltower gives it, and years follow its fiscal calendar.
Welltower's revenue by segment goes back to fiscal 2010, 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.