WELLWELLTOWER INC.
Real Estate Investment Trusts
- Revenue
- $8.5B
- 40% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $171.7B
- Employees
- 712
- $12M revenue each
- Net debt / EBITDA
- —
- $15.9B net debt
- AI in 10-K
- 2.6
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 2 of 7
- TSR below peersNo2 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$17M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo308% of net incomeCash flow under 80% of net income
- Dilutive SBCYes18% of revenueOver 10% of revenue
- Payouts exceed cash flowNo65% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentYes19% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$12M · 97th pctBottom quartile of its SIC industry
- Quiet on AINo2.6 per 10K words · 65th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$171.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$2M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.2B | $4.2B | $4.8B | $6.0B | $8.5B | 40% |
| Net income | $336M | $141M | $340M | $952M | $937M | 1.6% |
| Operating cash flow | $1.3B | $1.3B | $1.6B | $2.3B | $2.9B | 28% |
| Stock-based comp | $18M | $26M | $37M | $76M | $1.6B | 1953% |
| Buybacks | $0 | $0 | — | — | — | |
| Dividends | $1.0B | $1.1B | $1.3B | $1.5B | $1.9B | 21% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $2M · 4
- Open-market sells, 12 mo
- $0 · 0
- Net
- $2M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $821M | $1000M | 328 | 138 |
| FY2024 | $20M | $107M | 219 | 134 |
| FY2023 | $17M | $41M | 153 | 123 |
| FY2022 | $14M | $6M | 108 | 108 |
| FY2021 | $13M | $23M | 137 | 143 |