How does Welltower (WELL) make money?

Welltower (WELL) generates revenue primarily from Management Service, which accounted for 100% of total revenue in TTM through Q2 2026. The company reported $12.6B in revenue and converted 10.7% of it into net profit, equivalent to roughly $1.35B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Welltower (WELL)?

Welltower (WELL) reported a gross profit margin of 38.8% in TTM through Q2 2026, equivalent to $4.9B in gross profit on $12.6B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Welltower (WELL)?

Welltower (WELL) reported an operating profit margin of 5.4% in TTM through Q2 2026, equivalent to $681M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Welltower (WELL)?

Welltower (WELL) reported a net profit margin of 10.7% in TTM through Q2 2026, equivalent to $1.35B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Welltower (WELL) profitable?

Yes. Welltower (WELL) reported $1.35B in net income for TTM through Q2 2026, with a net profit margin of 10.7%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Welltower (WELL) spend on capital expenditures?

Welltower (WELL) spent $13.6M on capital expenditures (CapEx) during TTM through Q2 2026, roughly 0.1% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Welltower (WELL) generate?

Welltower (WELL) generated $3.12B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 24.7%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Welltower (WELL)?

Welltower (WELL) had an effective tax rate of 4.8% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

Where does Welltower (WELL) generate most of its revenue?

UNITED STATES is the largest geographic market for Welltower (WELL), accounting for 65% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Welltower Makes Money: 2026 Visual Revenue Map

Welltower (WELL) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 28, 2026).

Welltower (WELL) Revenue by Geography — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Welltower (WELL), TTM through Q2 2026
Region	Revenue (USD)	% of total
UNITED STATES	$8.3B	65%
UNITED KINGDOM	$3.58B	28.1%
CANADA	$876M	6.9%
Total	$12.8B	100%

UNITED STATES
UNITED KINGDOM
CANADA
Total

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Welltower (WELL) generated 65% of revenue from UNITED STATES, followed by UNITED KINGDOM (28.1%) and CANADA (6.9%).

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Operating Margin5.4%

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Employees712.0

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