WELL Welltower margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 57

Gross margin

39.2%

Operating margin

18.3%

EBITDA margin

36.6%

Net margin

12.1%

Current Welltower reports a gross margin of 39.2%, an operating margin of 18.3%, an EBITDA margin of 36.6%, and a net margin of 12.1%. Of the available margins, net margin increased the most and gross margin fell the most, by 2.4 and 0.6 percentage points respectively.

WELL margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Welltower's margins averaged 39.95% gross, 17.76% operating, 37.22% EBITDA, and 10.28% net. For Welltower, operating and net margins are above their three-year averages, while gross and EBITDA margins are below their three-year averages.

WELL margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 2.3 percentage points, EBITDA margin by 1 percentage point, and net margin by 2.4 percentage points, while gross margin contracted by 0.6 percentage points.

Gross margin expansion

-0.6pp

Operating margin expansion

2.3pp

EBITDA margin expansion

1pp

Net margin expansion

2.4pp

WELL Gross margin

Welltower's gross margin averaged 39.95% across the past 3 years. Compared with its three-year average, Welltower's current gross margin is 39.2% and is 0.8 percentage points below its three-year average. Over the last 3 years, Welltower's gross margin peaked at 41.1% in Mar 2024 and reached a low of 39.2% in Sep 2026.

WELL Operating margin

Welltower recorded an average operating margin of 17.76% across the last 3 years. The current operating margin stands at 18.3%, 0.5 percentage points above its three-year average. Operating margin was highest at 20.3% in Sep 2024 and lowest at 15% in Dec 2025.

WELL EBITDA margin

The average EBITDA margin for Welltower was 37.22% across the past 3 years. Compared with its three-year average, Welltower's current EBITDA margin is 36.6% and is 0.6 percentage points below its three-year average. The EBITDA margin for Welltower moved between 33.8% in Dec 2025 and 40.3% in Sep 2024.

WELL Net margin

Over the last 3 years, the average net margin for Welltower was 10.28%. The latest net margin for Welltower is 12.1%, 1.8 percentage points above its three-year average. Welltower's net margin ranged from a low of 5.1% in Dec 2023 to a high of 12.7% in Mar 2025.

WELL margin group comparison

Margins compared with peer-group, industry and sector averages

Welltower's gross margin of 39.2% is below the Real Estate sector and the industry average. Compared to its Real Estate sector average of 60.8%, Welltower's gross margin is 36% lower.

WELL margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Welltower's gross margin?

The current gross margin for WELL is 39.2% as of Sep 30, 2026.

What is Welltower's operating margin?

The current operating margin for WELL is 18.3% as of Sep 30, 2026.

What is Welltower's EBITDA margin?

The current EBITDA margin for WELL is 36.6% as of Sep 30, 2026.

What is Welltower's net margin?

For the period ending Sep 30, 2026, WELL recorded a net margin of 12.1%.

What are the average margins of WELL?

Across the last 3 years, WELL averaged 40.0% gross, 17.8% operating, 37.2% EBITDA, and 10.3% net.

What are the highest historical margins of WELL?

Within the 5-year period, WELL recorded its highest margins at 41.5% gross in Dec 2021, 20.3% operating in Sep 2024, 40.3% EBITDA in Sep 2024, and 12.7% net in Mar 2025.

What are the lowest historical margins of WELL?

Over the last 5 years, Welltower's lowest margins were 39.2% gross in Mar 2023, 12.1% operating in Mar 2023, 33.3% EBITDA in Mar 2023, and 1.7% net in Mar 2023.