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Ventas, Inc. (VTR)

As-reported financials and recent SEC filings for Ventas, Inc., latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Ventas, Inc.

Ventas, Inc. is a real estate investment trust that owns and invests in properties serving the aging population, including senior housing communities, outpatient medical buildings, research centers, hospitals, and healthcare facilities in North America and the United Kingdom. Its main business segments include senior housing operations, outpatient medical and research properties, and triple-net leased properties. Ventas serves healthcare providers, research institutions, and senior residents through its portfolio of 1,409 properties.

Snapshot

Revenue
$5.83B
Revenue growth (YoY)
18.5%
Net income
$261.5M
Diluted EPS
$0.54
Gross margin
Operating margin
Net margin
4.5%
FCF margin
-22.0%
ROE
2.1%
P/E (TTM)
182.0×
Market cap
Debt / equity
1.0×

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at Ventas

  • Revenue grew 18.5% to $5.8B in FY2025, faster than the 9.5% the year before.
  • Most recent quarter Q1 FY2026: revenue $1.7B, up 22.0% from Q1 FY2025.
  • Free cash flow was negative $1.3B in FY2025.
  • Net income rose 196.0% to $262M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Ventas’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin4.5%
40th percentile of 156
FCF margin-22.0%
4th percentile of 27
Revenue growth (YoY)+18.5%
89th percentile of 161
ROE2.1%
42nd percentile of 141
P/E (TTM)182.0×
97th percentile of 108
Debt / equity1.03×
47th percentile of 99
Short interest6.75d
71st percentile of 154

Ventas’s P/E of 182.0 ranks in the 97th percentile of the 108 peers with a meaningful P/E. Ventas’s FCF margin of -22.0% ranks in the 4th percentile of the 27 REITs reporting it. Ventas’s revenue growth of +18.5% ranks in the 89th percentile of the 161 REITs reporting it.

1 open-market insider buy totaling $197,025 in the last 90 days, against 1 sale totaling $103,915. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
2
+6 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
5
4 trimmed, 1 exited
Combined position
$774.8M
reported long value
InvestorAs ofPosition valueSharesChange
Two Sigma InvestmentsquantQ1 2026$326.6M4.0MAdded
AQR Capital ManagementquantQ1 2026$239.9M2.9MReduced
Renaissance TechnologiesquantQ1 2026$66.3M810.6KReduced
Gotham Asset ManagementQ1 2026$52.1M637.6KAdded
Citadel AdvisorsquantQ1 2026$44.8M547.4KReduced
D. E. ShawquantQ1 2026$34.6M423.5KAdded
Point72 Asset ManagementquantQ1 2026$9.8M119.4KReduced
Bridgewater AssociatesQ1 2026$698,5658.5KAdded

No longer held by: Millennium Management (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
1
1 insider
Bought (90d)
$197K
open-market value
Sells (90d)
1
$104K
Signal
Net buying
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-03
filed 2026-06-05
EMBLER MICHAEL JDirectorBuy2.5K$78.81$197K
2026-05-14
filed 2026-05-15
RAKOWICH WALTER CDirectorSell1.2K$90.20$104K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
24.7M
settled 2026-07-15
Change vs prior
+8.5%
vs previous settlement
Days to cover
6.75
at avg daily volume
Avg daily volume
3.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-1524.7M+8.5%6.75
2026-06-3022.8M-0.7%4.79
2026-06-1523.0M-0.7%6.29
2026-05-2923.1M+4.5%5.74
2026-05-1522.1M+11.3%4.45
2026-04-3019.9M+4.3%3.69
2026-04-1519.0M+4.4%6.20
2026-03-3118.3M-8.0%5.55

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$5.83B$4.92B$4.50B$4.13B$3.83B
Gross profit
Operating income
Net income$261.5M$88.4M$-30.3M$-40.9M$56.6M
Diluted EPS$0.54$0.19$-0.10$-0.12$0.13

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$741.1M$897.9M$508.8M$122.6M$149.7M
Current assets
Total assets$27.59B$26.19B$24.73B$24.16B$24.72B
Current liabilities
Long-term debt$13.01B$13.52B$13.49B$12.30B$12.03B
Total liabilities$14.63B$15.05B$14.88B$13.67B$13.49B
Total equity$12.59B$10.83B$9.54B$10.22B$10.95B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.65B$1.33B$1.12B$1.12B$1.03B
Capital expenditure$2.93B$2.53B$649.5M$900.7M$1.80B
Free cash flow$-1.28B$-1.20B$470.4M$219.5M$-775.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$1.66B22.0%$59.0M$0.11
Q4 FY2025$1.57B21.7%$73.0M$0.15
Q3 FY2025$1.49B20.4%$68.7M$0.14
Q2 FY2025$1.42B18.3%$71.5M$0.15
Q1 FY2025$1.36B13.2%$48.4M$0.10
Q4 FY2024$1.29B10.5%$58.7M$0.14
Q3 FY2024$1.24B7.5%$21.0M$0.05
Q2 FY2024$1.20B8.6%$21.2M$0.05

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate Investment Trusts
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2019
SEC CIK740260

Recent SEC filings

10-K2026-02-06
View on EDGAR →
10-K2025-02-13
View on EDGAR →
10-Q2026-04-28
View on EDGAR →
10-Q2025-10-30
View on EDGAR →
10-Q2025-07-31
View on EDGAR →
10-Q2025-05-01
View on EDGAR →
8-K2026-06-15
View on EDGAR →
8-K2026-05-15
View on EDGAR →

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.