Ventas, Inc.VTR
NYSE•Real Estate•REIT - Healthcare Facilities
Ventas, Inc. is a leading S&P 500 real estate investment trust enabling exceptional environments that benefit a large and growing aging population. With approximately 1,400 properties in North America and the United Kingdom, Ventas occupies an essential role in the longevity economy. The Company's growth is fueled by its more than 850 senior housing communities, which provide valuable services to residents and enable them to thrive in supported environments. Ventas aims to deliver outsized performance by leveraging its operational expertise, data-driven insights from its Ventas OI platform, extensive relationships and strong financial position. The Ventas portfolio also includes outpatient medical buildings, research centers and healthcare facilities. Ventas's seasoned team of talented professionals shares a commitment to excellence, integrity and a common purpose of helping people live longer, healthier, happier lives. Ventas, Inc. was incorporated in 1983 and is based in Chicago, United States.
as of March 2026
Are revenues and earnings expanding?
$6.13B in TTM revenue grew 20.7% YoY, reaching $1.66B last quarter. TTM EBITDA of $1.64B on operating income of $35.41M shows growth is flowing through. Net income of $272.21M TTM confirms the company is converting revenue into profit. Revenue is growing at a healthy pace — a signal to hold.
Is revenue turning into profit effectively?
Op. margin of 2.1% is down 0.9% YoY — costs are rising relative to revenue. Net margin at 3.6%. ROE of 2.1% shows the company generates solid returns on shareholder equity.
Is the stock cheap or expensive?
At 143.7x P/E, the stock trades at a premium — the market expects above-average growth. P/S of 6.4x and P/B of 3.0x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.
Is the company financially stable?
With $27.69B in assets and $12.52B in long-term debt, the D/E of 1.0 shows a conservative capital structure — the company has a strong financial cushion to weather downturns.
Is the business self-funding?
FCF of $321.64M on $394.61M in operating cash flow. The FCF / Net Income ratio of 1.2x means earnings are well backed by actual cash — high-quality earnings. Cash reserves of $183.61M provide financial flexibility. Shares outstanding rose 8.2% YoY — shareholder dilution is eroding per-share value.
Competitive analysis based on 67 quarters of fundamental data
Operating margins are under pressure, averaging 2.0%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Data-driven red flags and warnings across 67 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF covers net income by -1.5x on average — earnings are well-supported by cash generation.
D/E ratio is 1.0 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares outstanding increased 16.7% — significant dilution, likely from stock compensation or capital raises.
Only 6 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~30.1% growth over the period. Strong demand durability.