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Ventas cash flow statement

In fiscal 2025, Ventas's operations generated $1.65bn of cash; it spent $2.93bn on capital projects, leaving free cash flow of −$1.28bn. It returned $860m in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations4224487739931,1951,2551,3991,3551,4291,3811,4381,4501,0261,1201,1201,3301,6471,912
Depreciation and amortisation1972014447156307258948998889201,0461,1101,1971,1981,3921,2531,3791,589
Stock-based pay121419212121202127303421323131313942
Capital spending1118506982871071171331321576071,8029016492,5302,9280
Free cash flow4114297239231,1131,1671,2911,2371,2961,2501,281843−776219470−1,200−1,2811,912
Free cash flow after stock pay3994157039031,0921,1461,2721,2161,2701,2201,247821−808189439−1,231−1,3201,870
Dividends paid3143365217298028761,0031,0258271,1271,158929687720724740860976
Shares issued29903003421412424911,2877409425561701081,9652,3444,178

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Ventas's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ventas.