Ventas Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Property Revenue	1,472	1,497	1,497	1,486	1,399	1,448
Service and Other Revenue	4,618	4,294	3,390	2,977	2,678	2,290
Revenue	6,090	5,790	4,887	4,463	4,077	3,738
Revenue Growth (YoY)	20.69%	18.48%	9.49%	9.47%	9.07%	0.84%
Property Expenses	3,631	3,413	2,821	2,555	2,277	2,084
Service and Other Expenses	6.59	6.58	6.51	6.1	6.19	4.43
Total Property Expenses	3,638	3,420	2,827	2,561	2,283	2,089
Gross Profit	2,453	2,370	2,060	1,902	1,794	1,650
Selling, General & Admin	187	177.4	162.99	148.88	144.87	129.76
Depreciation & Amortization Expenses	1,440	1,379	1,253	1,392	1,198	1,197
Other Operating Expenses	49.75	40.79	85.7	-7.79	89.15	84.43
Operating Income	775.68	773.14	558.19	368.66	362.66	238.13
Net Gains on Disposal of Properties	53.46	38.58	57.01	62.12	7.78	218.79
Interest Income	43.2	48.07	38.73	47.99	80.3	94.77
Interest Expense	-619.03	-612.25	-602.84	-574.11	-467.56	-440.09
Other Non-Operating Income (Expense)	-0.62	-0.17	-0.52	-2.75	0.36	-50.22
Total Non-Operating Income (Expense)	-523	-525.77	-507.61	-466.75	-379.13	-176.75
Pretax Income	252.68	247.37	50.58	-98.09	-16.47	61.39
Provision for Income Taxes	-19.53	-14.15	-37.78	-9.54	-16.93	4.83
Net Income	260.43	251.38	81.15	-40.97	-47.45	49.01
Minority Interest in Earnings	11.78	10.14	7.2	10.68	6.52	7.55
Net Income to Common	260.43	251.38	81.15	-40.97	-47.45	49.01
Net Income Growth	82.97%	209.76%	-	-	-	-88.84%
Shares Outstanding (Basic)	464	455	412	402	400	383
Shares Outstanding (Diluted)	472	463	416	406	403	386
Shares Change (YoY)	10.83%	11.11%	2.64%	0.55%	4.44%	2.60%
EPS (Basic)	0.56	0.55	0.20	-0.10	-0.12	0.13
EPS (Diluted)	0.55	0.54	0.19	-0.10	-0.12	0.13
EPS Growth	66.67%	184.21%	-	-	-	-88.89%
Shares Outstanding	486.1	474.93	437.1	402.38	399.7	399.35
Free Cash Flow	-1,451	-1,292	-1,200	470.4	219.47	-775.91
Free Cash Flow Growth	-	-	-	114.34%	-	-
Free Cash Flow Per Share	-3.07	-2.79	-2.88	1.16	0.54	-2.01
Dividends Per Share	1.960	1.920	1.800	1.800	1.800	1.800
Dividend Growth	2.08%	6.67%	-	-	-	-15.99%
Gross Margin	40.27%	40.94%	42.15%	42.62%	44.01%	44.13%
Operating Margin	12.74%	13.35%	11.42%	8.26%	8.89%	6.37%
Profit Margin	4.47%	4.52%	1.81%	-0.68%	-1.00%	1.51%
FCF Margin	-23.82%	-22.31%	-24.56%	10.54%	5.38%	-20.76%
EBITDA	2,250	2,185	1,841	1,784	1,573	1,453
EBITDA Margin	36.95%	37.73%	37.68%	39.96%	38.59%	38.88%
EBIT	775.68	773.14	558.19	368.66	362.66	238.13
EBIT Margin	12.74%	13.35%	11.42%	8.26%	8.89%	6.37%
Effective Tax Rate	-7.73%	-5.72%	-74.69%	9.72%	102.76%	7.86%

Updated Apr 28, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

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