VTR Financials Ventas

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 31, 2026, 11:17 UTC Overview →

Growth & profitability

Revenue has grown 9.0% per year over the past 5 years.
Net income has grown slower than revenue (-9.9% vs 9.0% per year).

Financial health

Total debt ($13.0B) exceeds cash ($741M); net debt is $12.3B.
Total debt has grown slower than revenue (1.8% vs 9.0% per year).

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 328.9% of earnings.
The dividend has declined 1.5% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$5.8B	$262M	0.0%	0.0%	2.1%	0.9%	-$1.3B	$13.0B	$741M
2024	$4.9B	$88M	0.0%	0.0%	0.8%	0.3%	-$1.2B	$13.5B	$898M
2023	$4.5B	-$30M	0.0%	0.0%	-0.3%	-0.1%	$470M	$13.5B	$509M
2022	$4.1B	-$41M	0.0%	0.0%	-0.4%	-0.2%	$219M	$12.3B	$123M
2021	$3.8B	$57M	0.0%	0.0%	0.5%	0.2%	-$776M	$12.0B	$150M
2020	$3.8B	$441M	0.0%	0.0%	4.3%	1.8%	$843M	$11.9B	$413M
2019	$3.9B	$439M	0.0%	0.0%	4.2%	1.8%	-$81M	$12.2B	$106M
2018	$3.7B	$416M	0.0%	0.0%	4.1%	1.8%	$653M	$10.7B	$72M
2017	$3.6B	$1.4B	0.0%	0.0%	12.5%	5.7%	$332M	$11.3B	$81M
2016	$3.4B	$651M	0.0%	0.0%	6.2%	2.8%	-$313M	$11.1B	$287M
2015	$3.3B	$419M	0.0%	0.0%	4.4%	1.9%	-$1.5B	$11.2B	$53M
2014	$2.8B	$477M	0.0%	0.0%	5.5%	2.3%	-$408M	$10.8B	$55M
2013	$2.5B	$455M	0.0%	0.0%	5.2%	2.3%	-$420M	$9.4B	$95M
2012	$2.5B	$362M	0.0%	0.0%	4.0%	1.9%	-$909M	$8.4B	$68M
2011	$1.7B	$363M	0.0%	0.0%	3.9%	2.1%	$144M	$6.4B	$46M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$1.8B	$67M	0.0%	0.0%	0.4%	0.2%	—	$12.4B	$202M
Jun '26	$1.7B	$72M	0.0%	0.0%	0.5%	0.2%	—	$12.7B	$199M
Mar '26	$1.7B	$59M	0.0%	0.0%	0.4%	0.2%	—	$12.5B	$184M
Dec '25	$1.6B	$73M	0.0%	0.0%	0.6%	0.3%	—	$13.0B	$741M
Sep '25	$1.5B	$69M	0.0%	0.0%	0.6%	0.3%	—	$12.6B	$189M
Jun '25	$1.4B	$71M	0.0%	0.0%	0.6%	0.3%	—	$13.1B	$614M
Mar '25	$1.4B	$48M	0.0%	0.0%	0.4%	0.2%	—	$12.7B	$182M
Dec '24	$1.3B	$59M	0.0%	0.0%	0.5%	0.2%	—	$13.5B	$898M
Sep '24	$1.2B	$21M	0.0%	0.0%	0.2%	0.1%	—	$13.7B	$1.1B
Jun '24	$1.2B	$21M	0.0%	0.0%	0.2%	0.1%	—	$13.2B	$557M
Mar '24	$1.2B	-$13M	0.0%	0.0%	-0.1%	-0.1%	$96M	$13.6B	$632M
Dec '23	$1.2B	-$85M	0.0%	0.0%	-0.9%	-0.3%	—	$13.5B	$509M
Sep '23	$1.1B	-$70M	0.0%	0.0%	-0.7%	-0.3%	—	$13.4B	$434M
Jun '23	$1.1B	$105M	0.0%	0.0%	1.1%	0.4%	—	$13.4B	$139M
Mar '23	$1.1B	$19M	0.0%	0.0%	0.2%	0.1%	$130M	$12.3B	$145M
Dec '22	$1.1B	-$43M	0.0%	0.0%	-0.4%	-0.2%	—	$12.3B	$123M
Sep '22	$1.0B	$3M	0.0%	0.0%	0.0%	0.0%	—	$12.2B	$145M
Jun '22	$1.0B	-$41M	0.0%	0.0%	-0.4%	-0.2%	—	$12.3B	$127M
Mar '22	$1.0B	$41M	0.0%	0.0%	0.4%	0.2%	—	$12.4B	$150M
Dec '21	$1.0B	-$39M	0.0%	0.0%	-0.4%	-0.2%	—	$12.0B	$150M

Valuation over time

How the market has priced VTR against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 352.6× (Dec '24) to 175.4× (Nov '26).
The price-to-sales ratio has risen from 5.6× (Mar '23) to 7.9× (Nov '26).
The dividend yield has fallen from 3.1% (Mar '23) to 1.9% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is VTR growing its revenue and profit?

Over the past 5 years, Ventas's revenue has grown 9.0% per year, and net income declined 9.9% per year. These are computed facts, not advice.

How much debt does VTR have?

As of FY2025, Ventas reported $13.0B of total debt against $741M of cash.

What is VTR's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 4.5%.

What is VTR's P/E ratio?

Ventas's P/E (TTM) is 168.91 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the VTR stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 175.4× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.