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REIT that owns senior housing, medical office, life-science and hospital real estate leased mostly to healthcare operators.
REIT that owns senior housing, medical office, life-science and hospital real estate leased mostly to healthcare operators.
Earns two ways: rent from operators that run triple-net properties and pay the costs, which is steady, and a share of operating profit from senior-housing communities it owns and hires managers to run, which swings with occupancy and wages but offers more upside. Medical offices and life-science buildings are leased to health systems and research tenants.
Moat: narrow (scale, installed base). Large, diversified healthcare-property portfolio and long operator relationships built over decades.
Headquarters: Chicago, Illinois, United States · Founded: 1998 · Employees: 542
Size Ventas (VTR) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $47.9B, the 263rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $88.75 on 6 Nov 2026.
Performance Over six months the shares gained 2.3%, against -1.2% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue grew 22.1% over the last twelve months (peer median +5.0%); the operating margin is 14.6% (peer median 36.6%).
Valuation It trades at 2.97× book value against a peer median of 2.39× (7th most expensive of 18).
Price implies The share price implies a return on equity of about 20.2%; Ventas delivers 1.9%, so the price asks more than the business earns today.
Credit Ventas has 12 bonds outstanding ($6.10B), rated BBB+ by the agencies and trading like BBB+ at a weighted spread of 84 bp.
Short interest Short interest is 2.8% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.78B | $5.84B | $4.95B | $4.50B | $4.13B |
| Revenue growth | — | +18% | +10% | +9% | — |
| Gross profit | $1.22B | $1.10B | $919M | $771M | $756M |
| EBITDA | $2.46B | $2.18B | $1.87B | $1.83B | $1.62B |
| Net income | $262M | $251M | $81.2M | -$41.0M | -$47.4M |
| Free cash flow | $1.50B | $1.32B | $1.06B | $935M | $926M |
| Capital expenditure | $457M | $364M | $282M | $259M | $222M |
| Total debt | $12.7B | $13.3B | $13.8B | $13.8B | $12.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Ventas VTR | $47.9B | +2% | +22% | 2% | 2.97× | 20.2% |
| Welltower WELL | $180B | +15% | +39% | 4% | 3.69× | 24.4% |
| Healthpeak Properties DOC | $14.3B | +4% | +9% | 5% | 1.78× | 15.1% |
| Omega Healthcare Investors OHI | $14.6B | +2% | +14% | 14% | 2.66× | 15.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VTR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.6% | +8.9% | 10th lowest of 21 |
| 6-month return | +2.3% | -1.2% | 9th highest of 20 |
| Return on equity | 1.9% | 8.1% | lowest of 18 |
| Price / book | 2.97× | 2.39× | 7th most expensive of 18 |
| Trailing P/E | 167.9× | 30.8× | 2nd most expensive of 21 |
| ROE the price implies | 20.2% | 20.9% | 8th least demanding of 17 |
| ROE delivered | 1.9% | 8.1% | lowest of 18 |
| Bond spread | 84 bp | 93 bp | 7th tightest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Ventas VTR | United States | $47.9B | +2% | +22% | 2% | 2.97× | 20.2% | 1.9% |
| Equity Residential VMRK | United States | $50.7B | n/a | +4% | 8% | 2.34× | 16.0% | 8.1% |
| Realty Income O | United States | $56.1B | -4% | +11% | 3% | 1.42× | 10.3% | 3.5% |
| Goodman GMG.AX | Australia | $39.6B | -11% | +17% | 12% | 2.28× | 26.9% | 11.5% |
| Crown Castle CCI | United States | $37.7B | -1% | -16% | n/a | n/a | n/a | n/a |
| Public Storage PSA | United States | $63.1B | +10% | +5% | 16% | 6.45× | 43.1% | 16.0% |
| Digital Realty DLR | United States | $65.9B | -10% | +21% | 4% | 2.39× | 19.2% | 3.6% |
| Extra Space Storage EXR | United States | $33.2B | +12% | +4% | 8% | 2.59× | 21.8% | 7.8% |
| Iron Mountain IRM | United States | $31.7B | -17% | +17% | n/a | n/a | n/a | n/a |
| Simon Property SPG | United States | $73.9B | +14% | +15% | 135% | 16.82× | 143.3% | 135.4% |
| Vici Properties VICI | United States | $27.3B | -13% | +5% | 8% | 0.94× | 7.9% | 8.3% |
| American Tower AMT | United States | $87.6B | +8% | +5% | 89% | 24.92× | 155.2% | 88.7% |
| Equinix EQIX | United States | $100B | -5% | +11% | 26% | 7.03× | n/a | 25.8% |
| SBA Communications SBAC | United States | $19.8B | -13% | +2% | n/a | n/a | n/a | n/a |
| Prologis PLD | United States | $123B | -11% | +7% | 8% | 2.16× | 20.9% | 7.9% |
| Essex Property Trust ESS | United States | $17.5B | +4% | +5% | 6% | 3.30× | 20.8% | 6.4% |
| Kimco Realty KIM | United States | $17.0B | +10% | +3% | 7% | 1.67× | 13.9% | 7.2% |
| Host Hotels & Resorts HST | United States | $16.9B | +15% | +5% | 16% | 2.64× | 22.6% | 15.8% |
| SEGRO SGRO.L | United Kingdom | $16.6B | +33% | +7% | 2% | 1.03× | 14.8% | 2.5% |
| Lamar Advertising LAMR | United States | $15.8B | -1% | +4% | 59% | 16.13× | 134.1% | 58.9% |
| Invitation Homes INVH | United States | $15.6B | -5% | +5% | 7% | 1.79× | 13.6% | 7.4% |
Ventas has 12 bonds outstanding with $6.10B face value. The agencies rate it BBB+; its bonds trade like BBB+. Weighted yield 5.51%, a spread of 84 bp over government bonds.