Welltower WELL Q4 2025 Earnings Call Transcript

Image source: The Motley Fool.

Wednesday, February 11, 2026 astatine 9:00 a.m. ET

• Chief Executive Officer — Shankh Mitra

• President and Chief Operating Officer — John Burkart

• Chief Investment Officer — Nikhil Chaudhri

• Chief Financial Officer — Tim McHugh

Need a punctuation from a Motley Fool analyst? Email [email protected]

Shankh Mitra: Thank you, Matt. And bully morning, everyone. This morning, I'll supply immoderate high-level thoughts connected the business, our caller superior allocation priorities, and a recap of what proved to beryllium a genuinely transformational twelvemonth for our company. 2025 not lone marked the ten-year day of the refounding of our institution by the existent management, but besides proved to beryllium the astir pivotal twelvemonth successful the company's history. We're pleased to person delivered 36% gross growth, 32% EBITDA growth, and a 22% FFO per stock growth, portion deleveraging our equilibrium expanse and investing importantly into our aboriginal systems and talent.

We launched our backstage funds absorption business, overhauled our interior and outer inducement structure, made important advancement connected Welltower Business System initiatives, and created our tech quad to instrumentality our exertion travel to the adjacent level. However, these exceptional achievements made crossed the concern are frankly successful the rearview mirror. Our absorption is firmly and intensely connected what comes next. What genuinely excites america is the deliberate actions we took successful 2025, which we judge volition meaningfully amplify the trajectory and duration of our semipermanent currency travel growth.

These actions were portion of a decade-long effort to alteration our steadfast from a existent property woody store erstwhile we arrived astatine the institution to an operations and technology-first business, with the maniacal obsession of delighting residents and prioritizing site-level worker experience. There are precise fewer businesses successful which earning the spot of customers is much important than elder living. Each day, our squad shows up with 1 question successful mind: How bash we enactment our best-in-class operators done Welltower Business System to supply a slayer worth proposition to residents, their families, and site-level employees whom the residents trust connected each day?

As an operating institution successful a existent property wrapper, it is of utmost value that we get this right. Only past bash we person a changeable astatine achieving our North Star: the semipermanent compounding of currency travel maturation for our existing investors. Before providing immoderate further commentary connected the events which led to this juncture, I'll rapidly reappraisal our fourth-quarter results. In presumption of our elder lodging operating portfolio, we ended the strongest twelvemonth successful our company's past connected a precocious note, reporting the thirteenth consecutive 4th successful which same-store operating nett operating income maturation exceeded 20%. Our integrated gross maturation continues to hover astir 10%, driven by 400 ground points of year-over-year occupancy gains and steadfast complaint growth.