Ventas Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	261.52	88.35	-30.3	-40.93	56.56
Depreciation & Amortization	1,411	1,283	1,415	1,211	1,215
Stock-Based Compensation	38.73	30.99	30.99	30.72	31.97
Other Adjustments	-114.42	-116.81	-242.1	-39.59	-233.75
Changes in Accounts Payable	81.04	133.97	-6.41	7.2	16.72
Changes in Accrued Expenses	-0.92	27.21	1.25	4.92	-5.92
Changes in Other Operating Activities	-30.68	-117.36	-48.45	-52.9	-54.57
Operating Cash Flow	1,647	1,330	1,120	1,120	1,026
Operating Cash Flow Growth	23.85%	18.73%	-0.03%	9.16%	-29.24%
Capital Expenditures	-2,938	-2,530	-649.47	-900.7	-1,802
Sale of Property, Plant & Equipment	213.16	329.09	399.53	112.93	840.44
Purchases of Investments	-0.94	-125.36	-2.75	-30.7	-0.49
Proceeds from Sale of Investments	48.82	6.87	44.63	0.89	348.09
Proceeds from Business Divestments	-	-	50.05	-	-
Other Investing Activities	-17.08	-57.89	-26.66	-41.64	-110.16
Investing Cash Flow	-2,694	-2,377	-184.66	-859.22	-724.14
Short-Term Debt Issued	-6.77	-7.1	-414.76	95.24	154.53
Net Short-Term Debt Issued (Repaid)	-6.77	-7.1	-414.76	95.24	154.53
Long-Term Debt Issued	1,130	1,913	2,527	957.78	1,534
Long-Term Debt Repaid	-1,780	-1,621	-1,973	-575.39	-2,110
Net Long-Term Debt Issued (Repaid)	-649.26	292.12	554.35	382.39	-575.32
Issuance of Common Stock	2,455	1,991	110.19	8.69	625.61
Net Common Stock Issued (Repurchased)	2,455	1,991	110.19	8.69	625.61
Common Dividends Paid	-860.06	-740.33	-723.56	-720.32	-686.89
Other Financing Activities	-64.7	-90.39	-69.97	-49.93	-76.4
Financing Cash Flow	873.76	1,445	-543.75	-283.93	-558.47
Effect of Exchange Rate Changes on Cash and Cash Equivalents	2.84	-3.99	1.26	-2.87	1.45
Net Cash Flow	-173.94	397.76	391.46	-22.98	-256.49
Free Cash Flow	-1,292	-1,200	470.4	219.47	-775.91
Free Cash Flow Growth	-	-	114.34%	-	-
FCF Margin	-42.90%	-39.86%	15.73%	5.38%	-20.76%
Free Cash Flow Per Share	-2.79	-2.88	1.16	0.54	-2.01
Levered Free Cash Flow	-1,882	-836.54	810.42	699.45	-1,002
Unlevered Free Cash Flow	-3,473	-2,493	-385.64	259.25	-411.28

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.