Company Valuation: Welltower Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 37,333 30,974 49,906 78,478 1,27,389 1,66,759 - -
Change - -17.03% 61.12% 57.25% 62.33% 30.9% - -
Enterprise Value (EV) 1 51,195 44,890 63,648 90,471 1,41,917 1,84,574 1,84,983 1,85,410
Change - -12.32% 41.79% 42.14% 56.86% 30.06% 0.22% 0.23%
P/E 110x 219x 137x 80.3x 134x 80.4x 73.4x 60.9x
PBR 2.18x 1.58x 2.02x 2.51x 3.07x 3.53x 3.35x 3.25x
PEG - -3.6x 1x 1x -11.7x 1x 7.75x 3x
Capitalization / Revenue 7.87x 5.29x 7.52x 9.82x 11.8x 11.5x 10x 8.88x
EV / Revenue 10.8x 7.66x 9.59x 11.3x 13.1x 12.8x 11.1x 9.88x
EV / EBITDA 27.8x 20.9x 25.3x 30.9x 54.6x 34.4x 28.5x 25.6x
EV / EBIT 63.7x 53.4x 57.3x 70x 275x 70.6x 54.2x 44.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.44 2.44 2.44 2.56 2.82 3.143 3.568 3.927
Rate of return 2.84% 3.72% 2.71% 2.03% 1.52% 1.36% 1.54% 1.7%
EPS 2 0.78 0.3 0.66 1.57 1.39 2.879 3.152 3.798
Distribution rate 313% 813% 370% 163% 203% 109% 113% 103%
Net sales 1 4,742 5,861 6,638 7,991 10,838 14,449 16,669 18,774
EBITDA 1 1,841 2,151 2,511 2,925 2,602 5,361 6,481 7,248
EBIT 1 803.3 841.1 1,110 1,293 516.6 2,613 3,413 4,150
Net income 1 336.1 141.2 340.1 951.7 936.8 2,129 2,362 2,868
Net Debt 1 13,862 13,916 13,742 11,994 14,528 17,815 18,224 18,651
Reference price 2 85.77 65.55 90.17 126.03 185.61 231.37 231.37 231.37
Nbr of stocks (in thousands) 4,35,275 4,72,521 5,53,469 6,22,690 6,86,328 7,20,745 - -
Announcement Date 15/02/22 15/02/23 13/02/24 11/02/25 10/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
80.37x12.77x34.43x1.36% 17TCr
159.14x8.16x22.42x2.4% 4.44TCr
18.5x16.56x15.03x5.83% 1.4TCr
48.36x7.7x13.73x6.05% 1.4TCr
86.08x4.3x23.3x1.95% 1.2TCr
24.46x16.04x17.76x4.17% 883.97Cr
7.81x15.11x17.94x6.48% 613.54Cr
40.97x8.22x14.82x6.05% 507.09Cr
135.4x7.31x19.21x3.05% 471.59Cr
Average 66.79x 10.69x 19.85x 4.15% 3.07TCr
Weighted average by Cap. 85.34x 11.58x 28.45x 2.34%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield