Ventas, Inc. (VTR) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 1.66B | 1.57B | 1.49B | 1.42B | 1.36B | 1.29B | 1.24B | 1.2B | 1.2B | 1.16B | 1.15B | 1.11B | 1.08B | 1.05B | 1.04B | 1.02B | 1.02B | 1.02B | 976.08M | 919.19M |
| Revenue Growth % | 22.01% | 21.67% | 20.44% | 18.31% | 13.18% | 10.53% | 7.52% | 8.55% | 11.39% | 10.74% | 10.85% | 8.15% | 5.87% | 2.83% | 6.27% | 11.29% | 11.78% | 10.99% | 6.22% | -2.54% |
| Property Operating Expenses | 1B | 3.7B | 869.91M | 826.9M | 785.71M | 741.06M | 714.96M | 681.8M | 689.25M | 669.41M | 657.95M | 624.25M | 609.64M | 591.54M | 571.58M | 575.77M | 544.03M | 582.58M | 523.85M | 494.85M |
| Net Operating Income (NOI) | 655.41M | -2.13B | 619.08M | 594M | 572.37M | 546M | 521.35M | 519.18M | 510.66M | 494.99M | 491.88M | 482.1M | 467.61M | 459.89M | 465.7M | 447.17M | 473.52M | 439.87M | 452.23M | 424.34M |
| NOI Margin % | 39.56% | -135.99% | 41.58% | 41.8% | 42.15% | 42.42% | 42.17% | 43.23% | 42.56% | 42.51% | 42.78% | 43.58% | 43.41% | 43.74% | 44.9% | 43.71% | 46.54% | 43.02% | 46.33% | 46.16% |
| Operating Expenses | 463.86M | -2.33B | 397.56M | 390.57M | 374.67M | 350.21M | 339.3M | 377.53M | 348.92M | 471.58M | 403.61M | 327.02M | 318.85M | 377.65M | 336.84M | 315.93M | 332.01M | 347.5M | 343.8M | 281.23M |
| G&A Expenses | 62.75M | 41.01M | 40.39M | 42.86M | 53.15M | 41.43M | 35.09M | 37.73M | 48.74M | 36.38M | 33.3M | 34.4M | 44.8M | 33.54M | 35.42M | 32.91M | 43M | 28.6M | 30.26M | 30.59M |
| EBITDA | 574.02M | 534.42M | 587.12M | 557.84M | 526.58M | 486.17M | 493.81M | 489.05M | 469.29M | 465.6M | 465.18M | 464.58M | 435.03M | 409.88M | 433.41M | 417.62M | 433.69M | 414.35M | 426.6M | 398.66M |
| EBITDA Margin % | 34.64% | 34.13% | 39.43% | 39.26% | 38.77% | 37.77% | 39.94% | 40.72% | 39.11% | 39.99% | 40.46% | 41.99% | 40.38% | 38.98% | 41.78% | 40.83% | 42.62% | 40.53% | 43.71% | 43.37% |
| Depreciation & Amortization | 382.47M | 330.24M | 365.6M | 354.42M | 328.89M | 290.37M | 311.76M | 347.4M | 307.55M | 442.19M | 376.91M | 309.5M | 286.27M | 327.65M | 304.55M | 286.38M | 292.17M | 321.98M | 318.16M | 255.55M |
| D&A / Revenue % | 23.08% | 21.09% | 24.55% | 24.94% | 24.22% | 22.56% | 25.22% | 28.93% | 25.63% | 37.98% | 32.78% | 27.98% | 26.57% | 31.16% | 29.36% | 28% | 28.71% | 31.49% | 32.6% | 27.8% |
| Operating Income | 191.56M | 204.18M | 221.52M | 203.42M | 197.69M | 195.79M | 182.05M | 141.65M | 161.74M | 23.4M | 88.28M | 155.08M | 148.75M | 82.23M | 128.86M | 131.24M | 141.51M | 92.37M | 108.43M | 143.11M |
| Operating Margin % | 11.56% | 13.04% | 14.88% | 14.32% | 14.56% | 15.21% | 14.73% | 11.79% | 13.48% | 2.01% | 7.68% | 14.02% | 13.81% | 7.82% | 12.42% | 12.83% | 13.91% | 9.03% | 11.11% | 15.57% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 2.23x | 1.47x | 0.74x | 1.50x | 1.25x | 1.14x | 1.16x | 1.19x | 0.90x | 0.48x | 0.52x | 1.67x | 1.13x | 0.63x | 0.98x | 0.61x | 1.33x | 0.60x | 1.61x | 1.84x |
| Non-Operating Income | -156.14M | -22.16M | 1.03M | -22.21M | 10.54M | 20.45M | 7.62M | -36.55M | 27.35M | -51.43M | 11.58M | -83.48M | 4.57M | 4.84M | 12.41M | 62.28M | -5.38M | 25.77M | -66.94M | -58.87M |
| Pretax Income | 43.11M | 71.87M | 62.36M | 75.34M | 37.8M | 13.19M | 24M | 28.93M | -15.54M | -80.02M | -71.22M | 95.29M | 16.11M | -46M | -2.96M | -44.99M | 36.1M | -43.85M | 66.55M | 91.93M |
| Pretax Margin % | 2.6% | 4.59% | 4.19% | 5.3% | 2.78% | 1.02% | 1.94% | 2.41% | -1.3% | -6.87% | -6.19% | 8.61% | 1.5% | -4.38% | -0.29% | -4.4% | 3.55% | -4.29% | 6.82% | 10% |
| Income Tax | -15.94M | -1.12M | -6.34M | 3.87M | -10.56M | -45.54M | 3M | 7.77M | -3M | 4.7M | -1.66M | -9.77M | -2.8M | -2.62M | -6.03M | -3.79M | -4.49M | -4.75M | 3.78M | 3.64M |
| Effective Tax Rate % | -36.97% | -1.56% | -10.17% | 5.14% | -27.93% | -345.31% | 12.51% | 26.84% | 19.33% | -5.87% | 2.33% | -10.26% | -17.39% | 5.69% | 203.34% | 8.42% | -12.44% | 10.83% | 5.68% | 3.96% |
| Net Income | 55.91M | 70.2M | 66.05M | 68.26M | 46.87M | 56.84M | 19.24M | 19.39M | -14.31M | -90.82M | -71.12M | 103.45M | 17.52M | -45.02M | 1.26M | -42.42M | 38.73M | -40.85M | 60.68M | 86.39M |
| Net Margin % | 3.37% | 4.48% | 4.44% | 4.8% | 3.45% | 4.42% | 1.56% | 1.61% | -1.19% | -7.8% | -6.19% | 9.35% | 1.63% | -4.28% | 0.12% | -4.15% | 3.81% | -4% | 6.22% | 9.4% |
| Net Income Growth % | 19.3% | 23.52% | 243.23% | 252.11% | 427.47% | 162.58% | 127.06% | -81.26% | -181.7% | -101.73% | -5762.74% | 343.9% | -54.77% | -10.19% | -97.93% | -149.1% | 167.7% | -136.99% | 375.88% | 154.97% |
| Funds From Operations (FFO) | 438.38M | 400.44M | 431.64M | 422.68M | 375.76M | 347.21M | 331.01M | 366.79M | 293.24M | 351.37M | 305.78M | 412.96M | 303.79M | 282.63M | 305.81M | 243.96M | 330.9M | 281.13M | 378.84M | 341.94M |
| FFO Margin % | 26.46% | 25.57% | 28.99% | 29.75% | 27.67% | 26.98% | 26.77% | 30.54% | 24.44% | 30.18% | 26.59% | 37.33% | 28.2% | 26.88% | 29.48% | 23.85% | 32.52% | 27.5% | 38.81% | 37.2% |
| FFO Growth % | 16.67% | 15.33% | 30.4% | 15.24% | 28.14% | -1.19% | 8.25% | -11.18% | -3.47% | 24.32% | -0.01% | 69.27% | -8.19% | 0.54% | -19.28% | -28.65% | 26.2% | -25.61% | 41.53% | 72.5% |
| FFO per Share | 0.90 | 0.83 | 0.93 | 0.92 | 0.84 | 0.81 | 0.79 | 0.89 | 0.72 | 0.86 | 0.76 | 1.02 | 0.75 | 0.71 | 0.76 | 0.60 | 0.82 | 0.70 | 0.98 | 0.90 |
| FFO Payout Ratio % | 0% | 56.36% | 50.59% | 51.33% | 52.97% | 54.42% | 110.32% | 49.7% | 62.36% | 51.6% | 59.04% | 43.66% | 59.72% | 63.73% | 58.9% | 73.81% | 54.4% | 64% | 44.64% | 49.45% |
| EPS (Diluted) | 0.11 | 0.15 | 0.14 | 0.15 | 0.11 | 0.13 | 0.05 | 0.05 | -0.04 | -0.22 | -0.18 | 0.26 | 0.04 | -0.11 | 0.01 | -0.11 | 0.10 | -0.10 | 0.16 | 0.23 |
| EPS Growth % | 0% | 15.38% | 205.01% | 218.47% | 413.39% | 159.09% | 125.5% | -81.88% | -180.88% | -100% | - | 336.36% | -54.79% | -13.4% | -95.25% | -147.83% | 164% | -133.45% | 433.33% | 154.76% |
| EPS (Basic) | 0.12 | 0.15 | 0.14 | 0.15 | 0.11 | 0.13 | 0.05 | 0.05 | -0.04 | -0.23 | -0.18 | 0.26 | 0.04 | -0.11 | 0.01 | -0.11 | 0.10 | -0.10 | 0.16 | 0.23 |
| Diluted Shares Outstanding | 486.71M | 480.76M | 463.42M | 459.09M | 446.42M | 427.61M | 419.47M | 411.82M | 407.23M | 406.98M | 402.86M | 404.12M | 403.79M | 399.65M | 403.54M | 403.53M | 403.26M | 403.11M | 385.52M | 378.41M |