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American real estate company
Ventas, Inc. is a real estate investment trust specializing in the ownership and management of research, medicine and healthcare facilities in the United States, Canada and the United Kingdom.3 From Wikipedia, CC BY-SA 4.0
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Last updated Oct 18, 2026.
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Ventas, Inc. is a real estate investment trust specializing in the ownership and management of research, medicine and healthcare facilities in the United States, Canada and the United Kingdom.3
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue by product, business segment and region, as the company reports it to the SEC.
Resident Fees and Services brought in 99% of the revenue Ventas, Inc. broke down this way in fiscal 2025.
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Resident Fees and Services | $3.0B | $3.4B | $4.3B |
| Third Party Capital Management | $17.8M | $17.4M | $17.5M |
| Management Service | $14.7M | $15.5M | $15.7M |
Senior Living Operations brought in 74% of the revenue Ventas, Inc. broke down this way in fiscal 2025.
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Senior Living Operations | $3.0B | $3.4B | $4.3B |
| Outpatient Medical And Research Portfolio | $869.7M | $877.6M | $897.9M |
| Triple Net Leased Properties | $619.2M | $622.1M | $601.6M |
United States brought in 89% of the revenue Ventas, Inc. broke down this way in fiscal 2025.
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $4.0B | $4.4B | $5.2B |
| Canada | $464.8M | $526.6M | $552.9M |
| United Kingdom | $28.9M | $30.7M | $71.2M |
Out of $5.8B in revenue.6
Out of $1.6B of cash from operations.6
Every line of the income statement in the latest annual report, as filed.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total rental income | $1.5B | $1.5B | $1.5B |
| Income from loans and investments | $22.6M | $9.1M | $23.0M |
| Interest and other income | $21.0M | $28.1M | $11.4M |
| Total revenues | $5.8B | $4.9B | $4.5B |
| Interest | $612.2M | $602.8M | $574.1M |
| Depreciation and amortization | $1.4B | $1.3B | $1.4B |
| Property-level operating expenses | $3.4B | $2.8B | $2.6B |
| Third-party capital management expenses | $6.6M | $6.5M | $6.1M |
| General, administrative and professional fees | $177.4M | $163.0M | $148.9M |
| Loss (gain) on extinguishment of debt, net | $172.0K | $687.0K | -$6.1M |
| Transaction, transition and restructuring costs | $10.1M | $20.4M | $15.2M |
| Reversal of allowance on loans receivable and investments, net | $0 | -$166.0K | -$20.3M |
| Gain on foreclosure of real estate | $0 | $0 | -$29.1M |
| Shareholder relations matters | $0 | $15.8M | $0 |
| Other expense (income) | $30.7M | $49.6M | -$23.0M |
| Total expenses | $5.6B | $4.9B | $4.6B |
| Income (loss) before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests | $204.3M | -$8.0M | -$115.6M |
| Income from unconsolidated entities | $4.5M | $1.6M | $13.6M |
| Gain on real estate dispositions | $38.6M | $57.0M | $62.1M |
| Income tax benefit | $14.2M | $37.8M | $9.5M |
| Net income (loss) | $261.5M | $88.4M | -$30.3M |
| Net income attributable to noncontrolling interests | $10.1M | $7.2M | $10.7M |
| Net income (loss) attributable to common stockholders | $251.4M | $81.2M | -$41.0M |
| (Loss) income from continuing operations (USD per share) | $1 | $0 | -$0 |
| Net (loss) income attributable to common stockholders (USD per share) | $0.55 | $0.20 | -$0.10 |
| (Loss) income from continuing operations (USD per share) | $1 | $0 | -$0 |
| Net (loss) income attributable to common stockholders (USD per share) | $0.54 | $0.19 | -$0.10 |
Every line of the balance sheet in the latest annual report, as filed.6
| Period ending | 2025-12-31 | 2025-05-31 | 2025-04-30 |
|---|---|---|---|
| Land and improvements | $3.0B | ||
| Buildings and improvements | $30.9B | ||
| Construction in progress | $358.8M | ||
| Acquired lease intangibles | $1.7B | ||
| Operating lease assets | $295.8M | ||
| Gross real estate investment | $36.2B | ||
| Accumulated depreciation and amortization | -$12.0B | ||
| Net real estate property | $24.1B | ||
| Secured loans receivable and investments, net | $143.9M | ||
| Investments in unconsolidated real estate entities | $617.6M | ||
| Net real estate investments | $24.9B | ||
| Cash and cash equivalents | $741.1M | ||
| Escrow deposits and restricted cash (1) | $45.1M | ||
| Goodwill | $1.0B | ||
| Assets held for sale | $43.0M | ||
| Deferred income tax assets, net | $2.8M | ||
| Other assets | $825.5M | ||
| Total assets | $27.6B | ||
| Senior notes payable and other debt | $13.0B | ||
| Accrued interest payable | $143.1M | ||
| Operating lease liabilities | $208.6M | ||
| Accounts payable and other liabilities | $1.2B | ||
| Liabilities related to assets held for sale | $4.0M | ||
| Deferred income tax liabilities | $23.4M | ||
| Total liabilities | $14.6B | ||
| Redeemable OP unitholder and noncontrolling interests | $375.2M | ||
| Preferred stock, $1.00 par value; 10,000 shares authorized, unissued | $0 | ||
| Common stock, $0.25 par value; 1,200,000 shares authorized, 474,926 and 437,085 shares outstanding at December 31, 2025 and 2024, respectively | $118.7M | ||
| Capital in excess of par value | $20.0B | ||
| Accumulated other comprehensive loss | -$39.9M | ||
| Retained earnings (deficit) | -$7.5B | ||
| Treasury stock, 0 and 4 shares issued at December 31, 2025 and 2024, respectively | -$34.0K | ||
| Total Ventas stockholders equity | $12.5B | ||
| Noncontrolling interests | $58.6M | ||
| Total equity | $12.6B | ||
| Total liabilities and equity | $27.6B | ||
| Preferred stock, par value (in dollars per share) | $1.00 | ||
| Preferred stock, shares authorized (in shares) | 10.0M shares | ||
| Common stock, par value (in dollars per share) | $0.25 | ||
| Common stock, shares authorized (in shares) | 1.2B shares | 1.2B shares | 600.0M shares |
| Common stock, shares issued (in shares) | 474.9M shares | ||
| Treasury stock, shares (in shares) | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $261.5M | $88.4M | -$30.3M |
| Depreciation and amortization | $1.4B | $1.3B | $1.4B |
| Amortization of deferred revenue and lease intangibles, net | -$39.2M | -$54.2M | -$59.6M |
| Other non-cash amortization | $32.3M | $30.1M | $22.4M |
| (Reversal of) allowance on loans receivable and investments, net | $0 | -$166.0K | -$20.3M |
| Stock-based compensation | $38.7M | $31.0M | $31.0M |
| Straight-lining of rental income | -$48.9M | -$5.1M | -$7.6M |
| Loss (gain) on extinguishment of debt, net | $172.0K | $687.0K | -$6.1M |
| Gain on real estate dispositions | -$38.6M | -$57.0M | -$62.1M |
| Income tax benefit | -$24.1M | -$43.5M | -$15.3M |
| Income from unconsolidated entities | -$4.5M | -$1.6M | -$13.6M |
| Gain on foreclosure of real estate | $0 | $0 | -$29.1M |
| Distributions from unconsolidated entities | $29.0M | $18.3M | $16.1M |
| Other | $11.7M | $25.8M | -$44.5M |
| Increase in other assets | -$30.7M | -$117.4M | -$48.4M |
| (Decrease) increase in accrued interest payable | -$922.0K | $27.2M | $1.3M |
| Increase (decrease) in accounts payable and other liabilities | $81.0M | $134.0M | -$6.4M |
| Net cash provided by operating activities | $1.6B | $1.3B | $1.1B |
| Net investment in real estate property | -$2.3B | -$1.9B | -$6.5M |
| Investment in loans receivable | -$935.0K | -$125.4M | -$2.8M |
| Proceeds from real estate disposals | $213.2M | $329.1M | $399.5M |
| Proceeds from loans receivable | $48.8M | $6.9M | $44.6M |
| Proceeds from sale of interest in unconsolidated entities | $0 | $0 | $50.1M |
| Net cash assumed in foreclosure of real estate | $0 | $0 | $11.6M |
| Development project expenditures | -$280.8M | -$322.2M | -$383.6M |
| Capital expenditures | -$363.9M | -$281.6M | -$259.4M |
| Distributions from unconsolidated entities | $33.7M | $8.4M | $74.7M |
| Investment in unconsolidated entities | -$55.8M | -$69.8M | -$130.5M |
| Insurance proceeds for property damage claims | $5.0M | $3.5M | $17.6M |
| Net cash used in investing activities | -$2.7B | -$2.4B | -$184.7M |
| Net change in borrowings under revolving credit facilities | -$6.8M | -$7.1M | -$12.4M |
| Net change in borrowings under commercial paper program | $0 | $0 | -$402.4M |
| Proceeds from debt | $1.1B | $1.9B | $2.5B |
| Repayment of debt | -$1.8B | -$1.6B | -$2.0B |
| Purchase of noncontrolling interests | -$2.1M | -$11.1M | -$110.0K |
| Payment of deferred financing costs | -$14.5M | -$35.9M | -$41.8M |
| Issuance of common stock, net | $2.3B | $2.0B | $108.5M |
| Cash distribution to common stockholders | -$860.1M | -$740.3M | -$723.6M |
| Cash distribution to redeemable OP unitholders | -$6.3M | -$6.5M | -$6.2M |
| Cash issued for redemption of OP Units | -$2.3M | -$2.4M | -$1.1M |
| Contributions from noncontrolling interests | $80.0K | $3.7M | $20.2M |
| Distributions to noncontrolling interests | -$16.4M | -$22.3M | -$32.0M |
| Proceeds from stock option exercises | $110.9M | $26.1M | $1.7M |
| Other | -$23.2M | -$16.0M | -$8.9M |
| Net cash provided by (used in) financing activities | $873.8M | $1.4B | -$543.7M |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -$173.9M | $397.8M | $391.5M |
| Effect of foreign currency translation | $2.8M | -$4.0M | $1.3M |
| Interest paid excluding capitalized interest | $579.7M | $575.7M | $548.1M |
| Capitalized interest | $10.0M | $15.6M | $12.3M |
| Real estate investments | $56.3M | $43.1M | $0 |
| Other assets | $6.5M | $13.0M | $7.9M |
| Other liabilities | $29.8M | $23.5M | $9.0M |
| Deferred income tax liability | $39.0M | $28.6M | $12.4M |
| Settlement of loan receivable | $0 | $0 | $486.1M |
| Real estate received in settlement of loan receivable | $0 | $0 | $1.6B |
| Assumption of debt related to real estate owned | $0 | $0 | $1.0B |
| Equity issued for redemption of OP Units | $0 | $434.0K | $0 |
The company was founded in 1998 as a spin-off of Vencor, a company founded by Bruce Lunsford, who would later be an unsuccessful Democratic candidate for Governor of Kentucky in 2007 and an unsuccessful candidate for Senator from Kentucky in 2008.
Ventas acquired the real estate investments of Ardent Health Services in 2015. In June 2021, Ventas announced the acquisition of New Senior Investment Group.
From Wikipedia’s article on Ventas (company), shared under CC BY-SA 4.0.5
From Wikidata.1
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
The numbers on this page point here. Each one links to the record it came from.