VTR

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Ventas, Inc.

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Key Metrics

Previous Close: $91.85
52-Week Range: $66.38 – $101.60
Market Cap: $47.54B
P/E (TTM): 165.50
EPS (TTM): 0.56
Dividend Yield: 2.18%

Advanced Metrics

Price/Book: 3.25
PEG Ratio: 1.72
Return on Equity: 2.01%
Return on Assets: 2.17%
Gross Margin: 39.97%
Operating Margin: 14.81%
Profit Margin: 4.09%
Current Ratio: 0.29
Debt/Equity: 0.85
Total Debt: $12.92B
Free Cash Flow: $1.49B
Revenue Growth: 21.70%
Earnings Growth: -6.70%
Enterprise Value: $60.82B

VTR Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$4.13B	$4.50B	$4.92B	$5.83B
Cost of Revenue	$2.28B	$2.56B	$2.83B	$3.42B
Gross Profit	$1.85B	$1.94B	$2.10B	$2.41B
Selling, General & Admin	$144.87M	$148.88M	$162.99M	$177.40M
Operating Expenses	$1.36B	$1.52B	$1.42B	$1.56B
Operating Income	$483.85M	$415.51M	$681.23M	$857.52M
EBITDA	$1.62B	$1.95B	$1.94B	$2.27B
Pretax Income	-$57.86M	-$39.84M	$50.58M	$247.37M
Income Tax	-$16.93M	-$9.54M	-$37.77M	-$14.15M
Net Income	-$47.45M	-$40.97M	$81.15M	$251.38M
Diluted EPS	-0.12	-0.10	0.19	0.54
Diluted Shares	403.45M	405.67M	416.37M	462.62M

VTR Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$122.56M	$508.79M	$897.85M	$741.07M
Receivables	$748.95M	$248.25M	$375.68M	$415.57M
Current Assets	$964.59M	$868.20M	$1.42B	$1.33B
Total Assets	$24.16B	$24.73B	$26.19B	$27.59B
Current Liabilities	$1.58B	$1.18B	$1.30B	$1.39B
Long-Term Debt	$11.87B	$13.48B	$13.52B	$13.01B
Total Debt	$12.49B	$13.69B	$13.74B	$13.22B
Total Liabilities	$13.94B	$15.18B	$15.36B	$15.01B
Retained Earnings	-$5.45B	—	—	—
Shareholders' Equity	$10.15B	$9.49B	$10.77B	$12.53B
Working Capital	-$612.37M	-$314.07M	$118.55M	-$61.86M
Net Debt	$12.17B	$12.98B	$12.62B	$12.27B

VTR Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$1.12B	$1.12B	$1.33B	$1.65B
Capital Expenditure	-$454.07M	-$643.00M	-$603.85M	-$644.62M
Free Cash Flow	$666.09M	$476.87M	$725.78M	$1.00B
Depreciation & Amortisation	$1.21B	$1.41B	$1.28B	$1.41B
Stock-Based Compensation	$30.71M	$30.99M	$30.99M	$38.73M
Investing Cash Flow	-$859.22M	-$184.66M	-$2.38B	-$2.69B
Financing Cash Flow	-$283.93M	-$543.75M	$1.45B	$873.76M
Dividends Paid	-$720.32M	-$723.56M	-$740.33M	-$860.06M
Net Change in Cash	-$22.98M	$391.46M	$397.76M	-$173.94M

VTR Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$1.42B	$1.49B	$1.57B	$1.66B	$1.73B
Cost of Revenue	$826.90M	$869.91M	$937.40M	$1.00B	$1.04B
Gross Profit	$594.00M	$619.08M	$628.62M	$653.58M	$686.99M
Selling, General & Admin	$42.86M	$40.39M	$41.01M	$62.75M	$46.99M
Operating Expenses	$390.57M	$397.56M	$393.73M	$445.21M	$454.70M
Operating Income	$203.42M	$221.52M	$234.89M	$208.36M	$232.29M
EBITDA	$580.05M	$586.09M	$588.90M	$591.09M	$622.17M
Pretax Income	$75.34M	$62.36M	$71.87M	$43.11M	$46.60M
Income Tax	$3.87M	-$6.34M	-$1.12M	-$15.94M	-$25.62M
Net Income	$68.26M	$66.05M	$70.20M	$55.91M	$70.57M
Diluted EPS	0.15	0.14	0.15	0.11	0.14
Diluted Shares	459.09M	463.42M	480.76M	486.71M	497.72M

VTR Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$614.20M	$188.62M	$741.07M	$183.61M	$198.96M
Receivables	$423.90M	$446.14M	$415.57M	$413.06M	$714.27M
Current Assets	$1.21B	$849.28M	$1.33B	$700.08M	$1.03B
Total Assets	$26.47B	$26.93B	$27.59B	$27.69B	$29.66B
Current Liabilities	$1.27B	$1.34B	$1.39B	$1.42B	$1.76B
Long-Term Debt	$13.05B	$12.57B	$13.01B	$12.45B	$12.42B
Total Debt	$13.27B	$12.79B	$13.22B	$12.73B	$12.92B
Total Liabilities	$14.55B	$14.50B	$15.01B	$14.50B	$14.95B
Shareholders' Equity	$11.53B	$12.36B	$12.53B	$13.12B	$14.65B
Working Capital	-$58.36M	-$494.07M	-$61.86M	-$722.01M	-$726.81M
Net Debt	$12.44B	$12.38B	$12.27B	$12.33B	$12.49B

VTR Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$475.34M	$378.58M	$471.66M	$394.61M	$556.55M
Capital Expenditure	-$142.24M	-$151.05M	-$234.05M	-$145.41M	-$179.07M
Free Cash Flow	$333.10M	$227.53M	$237.61M	$249.20M	$377.48M
Depreciation & Amortisation	$354.42M	$365.60M	$362.57M	$391.83M	$415.53M
Stock-Based Compensation	$7.68M	$5.91M	$6.32M	$24.84M	$5.31M
Investing Cash Flow	-$204.42M	-$1.18B	-$428.72M	-$1.07B	-$1.95B
Financing Cash Flow	$156.97M	$366.07M	$499.86M	$89.96M	$1.42B
Dividends Paid	-$216.96M	-$218.39M	-$225.68M	-$230.19M	-$253.35M
Net Change in Cash	$427.88M	-$432.88M	$542.80M	-$583.93M	$23.37M

Market Snapshot

About

Ventas is a real estate investment trust that focuses on healthcare-related properties including senior housing communities, medical office buildings, life science research facilities, and acute care hospitals. The company partners with leading healthcare providers and research institutions to operate and manage its diverse portfolio. Ventas is recognized as one of the largest healthcare REITs in the United States.