What is Welltower's operating margin?

Latest reported operating margin for Welltower (WELL) is 4.62% as of the trailing twelve months (TTM) ending March 31, 2026.

How has Welltower operating margin changed year-over-year?

Welltower (WELL) operating margin changed −11.3 percentage points year-over-year on the latest annual filing.

When did Welltower operating margin hit its highest annual value?

Welltower operating margin reached its highest annual value of 119.08% in 2000.

What was Welltower operating margin in 2024?

Welltower (WELL) operating margin in 2024 was 14.59%.

What was Welltower operating margin in 2025?

Welltower (WELL) operating margin in 2025 was 3.33%.

Welltower (WELL) Operating Margin

TTM

4.6%

YoY change

−11.26pp

Trough year (1995)

-588.2%

Peak year (2000)

119.1%

Operating Margin history chart for Welltower (WELL) from 1985 to 2025

Latest: 3.3%

Operating Margin change chart for Welltower (WELL) from 1985 to 2025

Latest: −11.26pp

Operating Margin history table for Welltower (WELL) from 1985 to 2025


2025	3.3%	-11.26pp	Dec 31, 2025	Feb 12, 2026
2024	14.6%	+0.07pp	Dec 31, 2024	Feb 12, 2025
2023	14.5%	+1.60pp	Dec 31, 2023	Feb 15, 2024
2022	12.9%	-3.29pp	Dec 31, 2022	Feb 21, 2023
2021	16.2%	+0.35pp	Dec 31, 2021	Feb 16, 2022
2020	15.9%	-8.41pp	Dec 31, 2020	Feb 10, 2021
2019	24.3%	-0.59pp	Dec 31, 2019	Feb 14, 2020
2018	24.9%	-0.92pp	Dec 31, 2018	Feb 25, 2019
2017	25.8%	-4.98pp	Dec 31, 2017	Feb 28, 2018
2016	30.8%	-1.66pp	Dec 31, 2016	Feb 22, 2017
2015	32.4%	+4.08pp	Dec 31, 2015	Feb 18, 2016
2014	28.3%	+4.23pp	Dec 31, 2014	Feb 20, 2015
2013	24.1%	-9.30pp	Dec 31, 2013	Feb 21, 2014
2012	33.4%	-2.02pp	Dec 31, 2012	Feb 26, 2013
2011	35.4%	-7.30pp	Dec 31, 2011	Feb 17, 2012
2010	42.7%	-8.33pp	Dec 31, 2010	Feb 25, 2011
2009	51.1%	-4.44pp	Dec 31, 2009	Feb 26, 2010
2008	55.5%	+0.92pp	Dec 31, 2008	Mar 2, 2009
2007	54.6%	-7.34pp	Dec 31, 2007	Feb 28, 2008
2006	61.9%	-2.20pp	Dec 31, 2006	Mar 12, 2007
2005	64.1%	+5.92pp	Dec 31, 2005	Mar 10, 2006
2004	58.2%	-7.26pp	Dec 31, 2004	Mar 16, 2005
2003	65.4%	-1.55pp	Dec 31, 2003	Mar 12, 2004
2002	67.0%	-3.22pp	Dec 31, 2002	Mar 10, 2003
2001	70.2%	-48.87pp	Dec 31, 2001	Mar 25, 2002
2000	119.1%	+4.56pp	Dec 31, 2000	Mar 26, 2001
1999	114.5%	+3.30pp	Dec 31, 1999	Mar 20, 2000
1998	111.2%	+3.04pp	Dec 31, 1998	Mar 5, 1999
1997	108.2%	+24.90pp	Dec 31, 1997	Apr 22, 1998
1996	83.3%	+671.48pp	Dec 31, 1996	Feb 10, 1997
1995	-588.2%	-540.48pp	Dec 31, 1995	Mar 8, 1996
1994	-47.7%	-162.16pp	Dec 31, 1994	Sep 13, 1995
1993	114.4%	+1.99pp	Dec 31, 1993	Dec 31, 1993
1992	112.5%	-5.01pp	Dec 31, 1992	Dec 31, 1992
1991	117.5%	+9.29pp	Dec 31, 1991	Dec 31, 1991
1990	108.2%	-3.10pp	Dec 31, 1990	Dec 31, 1990
1989	111.3%	-4.23pp	Dec 31, 1989	Dec 31, 1989
1988	115.5%	+2.33pp	Dec 31, 1988	Dec 31, 1988
1987	113.2%	-0.22pp	Dec 31, 1987	Dec 31, 1987
1986	113.4%	+1.04pp	Dec 31, 1986	Dec 31, 1986
1985	112.4%	—	Dec 31, 1985	Dec 31, 1985

20253.3%-11.26pp
202414.6%+0.07pp
202314.5%+1.60pp
202212.9%-3.29pp
202116.2%+0.35pp
202015.9%-8.41pp
201924.3%-0.59pp
201824.9%-0.92pp
201725.8%-4.98pp
201630.8%-1.66pp
201532.4%+4.08pp
201428.3%+4.23pp
201324.1%-9.30pp
201233.4%-2.02pp
201135.4%-7.30pp
201042.7%-8.33pp
200951.1%-4.44pp
200855.5%+0.92pp
200754.6%-7.34pp
200661.9%-2.20pp
200564.1%+5.92pp
200458.2%-7.26pp
200365.4%-1.55pp
200267.0%-3.22pp
200170.2%-48.87pp
2000119.1%+4.56pp
1999114.5%+3.30pp
1998111.2%+3.04pp
1997108.2%+24.90pp
199683.3%+671.48pp
1995-588.2%-540.48pp
1994-47.7%-162.16pp
1993114.4%+1.99pp
1992112.5%-5.01pp
1991117.5%+9.29pp
1990108.2%-3.10pp
1989111.3%-4.23pp
1988115.5%+2.33pp
1987113.2%-0.22pp
1986113.4%+1.04pp
1985112.4%—

Operating Margin values are taken from Welltower's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About Operating Margin at Welltower (WELL)

According to Welltower's latest reported financial statements, the company's latest reported operating margin is 4.6%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending March 31, 2026 (reported April 29, 2026). Chart and table below cover the full reported history back to 1985.

2025's annual operating margin for Welltower (WELL) came in at 3.33% – contracted 11.3 percentage points year-over-year.

119.08% stands as the all-time-high annual operating margin, posted in 2000, against a low of -588.19% during 1995.

Welltower Operating Margin by Year

Welltower Operating Margin 2025: 3.3%

Welltower posted operating margin of 3.33% in 2025, contracted 11.3 percentage points from 2024.

Welltower Operating Margin 2024: 14.6%

In 2024, Welltower reported operating margin of 14.59%, expanded 0.1 percentage points from 2023.

Welltower Operating Margin 2023: 14.5%

Welltower operating margin in 2023 was 14.52%, expanded 1.6 percentage points from 2022.

Welltower Operating Margin 2022: 12.9%

2022's operating margin for Welltower came in at 12.92%, contracted 3.3 percentage points from 2021.

Welltower Operating Margin 2021: 16.2%

Welltower operating margin in 2021 was 16.21%.

See more financial history for Welltower (WELL).

Sector peers by Operating Margin

Real Estate peers of Welltower (WELL), ranked by their latest operating margin


Public Storage (PSA)	50.8%
Simon Property Group (SPG)	48.3%
Crown Castle (CCI)	48.0%
American Tower (AMT)	44.2%
Prologis (PLD)	38.9%
Realty Income (O)	29.3%
Equinix (EQIX)	20.8%
Digital Realty Trust (DLR)	14.6%

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