Welltower Inc. (WELL) stock analysis
Close on Nov 11, 2026Market cap $181.46BP/E 107.1Yield 1.14%
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed10 of 30 checks passed
Welltower passes 10 of the 30 checks behind our score; 11 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 1/6
- Growth
- 3/6
- Past performance
- 0/6
- Financial health
- 5/6
- Dividend
- 1/6
What stands out
No debt
Welltower has no borrowings on its latest balance sheet.
Revenue growing 10%+ a year
Revenue grew 22.7% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 66.7% a year over the last three fiscal years.
Interest well covered
No meaningful interest expense to cover.
What to watch
Margin of safety under 20%
The price is 172% above fair value, so there is no margin of safety.
Trading above fair value
The share price of $247.35 is above our fair value estimate of $90.82.
P/E above the industry
Welltower's P/E of 107.1 is above the Miscellaneous Investing median of 26.3.
Guidance lowered
Welltower lowered its 2026 stock-based compensation expense outlook on Jul 27, 2026.
Valuation1/6
P/E below its 5-year median
Welltower's P/E of 107.1 is below its own 5-year median of 121.6.
P/E above the industry
Welltower's P/E of 107.1 is above the Miscellaneous Investing median of 26.3.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B above the industry
Welltower's price-to-book of 3.74 is above the Miscellaneous Investing median of 1.20.
Trading above fair value
The share price of $247.35 is above our fair value estimate of $90.82.
Margin of safety under 20%
The price is 172% above fair value, so there is no margin of safety.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 22.7% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 66.7% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 39.2% over the last twelve months; the Miscellaneous Investing median is 4.6%.
Guidance lowered
Welltower lowered its 2026 stock-based compensation expense outlook on Jul 27, 2026.
Gross margin slipping
Gross margin was 39.2% over the last twelve months, against 39.8% a year earlier.
Past performance0/6
Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity against the industry
Needs positive equity.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin against its history
Needs five years of revenue and net income.
Net margin against the industry
Needs revenue and net income.
Financial health5/6
No debt
Welltower has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Low bankruptcy risk
The Altman Z-score is 4.99; above 3 is the safe zone and below 1.8 the distress zone.
Dividend1/6
Pays a dividend
Welltower paid dividends worth 0.9% of the share price over the last twelve months.
Yield below Treasuries
The 0.9% yield is below the 4.4% on a 1-year Treasury.
Yield below the top quarter
The top quarter of US dividend payers yield 3.8% or more; Welltower yields 0.9%.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 10 fiscal years.
Earnings cover
Needs dividends paid and net income.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$90.82
The share price is 172% above this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 45.0× | 121.6× | 26.3× | $103.95 | 62% |
| P/B | 1.7× | 2.3× | 1.2× | $115.58 | 15% |
| Earnings power | 7.8% cost of equity | – | – | $39.32 | 23% |
| Fair value | $90.82 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 122
- Miscellaneous Investing median 26.3
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $680.53M
- Value traded per 1% price move
- $639.23M
Downside
Low risk
- Typical loss in a bad month
- 8.7%
- Volatility (annualized)
- 23%
- Sharpe ratio, 1 year
- 1.07
- Beta to the S&P 500 (5Y)
- 0.58
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +35.6% | +22.7% | +18.7% | +10.9% | |
| Gross profit | +37.6% | +23.6% | +16.7% | – | |
| EPS, diluted | -11.5% | +66.7% | -9.8% | -5.1% | |
| Dividend per share | +10.2% | +4.9% | +0.9% | -1.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Diluted shares | 360M | 417M | 680M |
Cash use needs five years of cash flow figures
Welltower does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero$2.88B
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income$2.88B vs –
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise609M → 680M
- Gross margin improvedGross margin up on the prior year39.56% → 40.14%
- More efficientAsset turnover rose0.18 → 0.21
See a number that looks wrong?