Ventas income statement
In fiscal 2025, Ventas reported revenue of $5.83bn, up 18.5% on the year before and net income of $251m, or $0.54 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 923 | 1,001 | 1,732 | 2,470 | 2,517 | 2,777 | 3,286 | 3,444 | 3,574 | 3,746 | 3,873 | 3,795 | 3,828 | 4,129 | 4,498 | 4,924 | 5,834 | 6,784 |
| General and administrative | 39 | 50 | 75 | 99 | 115 | 122 | 128 | 127 | 135 | 146 | 159 | 130 | 130 | 145 | 149 | 163 | 177 | 198 |
| Interest expense | 174 | 172 | 224 | 289 | 249 | 292 | 367 | 420 | 448 | 442 | 452 | 470 | 440 | 468 | 574 | 603 | 612 | 632 |
| Provision for credit losses | 0 | — | — | — | — | — | — | — | — | 0 | 0 | 24 | −9 | 20 | −20 | −0 | 0 | — |
| Income before tax | 192 | 223 | 330 | 283 | 364 | 351 | 352 | 519 | 585 | 385 | 359 | 81 | −162 | −94 | −116 | −8 | 204 | 219 |
| Income tax | −2 | 5 | −31 | −6 | −12 | −9 | −39 | −31 | −60 | −40 | −56 | −97 | 5 | −17 | −10 | −38 | −14 | −62 |
| Net income | 266 | 246 | 364 | 363 | 454 | 476 | 418 | 649 | 1,356 | 409 | 433 | 439 | 49 | −47 | −41 | 81 | 251 | 262 |
| Diluted EPS | $1.74 | $1.56 | $1.58 | $1.23 | $1.54 | $1.60 | $1.25 | $1.86 | $3.78 | $1.14 | $1.17 | $1.17 | $0.13 | −$0.12 | −$0.10 | $0.19 | $0.54 | $0.53 |
| Diluted shares (average) | 153m | 158m | 231m | 294m | 295m | 297m | 334m | 348m | 359m | 359m | 370m | 377m | 386m | 403m | 406m | 416m | 463m | 496m |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,287 | 1,358 | 1,421 | 1,489 | 1,566 | 1,657 | 1,730 | 1,832 |
| General and administrative | 41 | 53 | 43 | 40 | 41 | 63 | 47 | 48 |
| Interest expense | 153 | 149 | 150 | 158 | 154 | 156 | 160 | 161 |
| Provision for credit losses | 0 | 0 | 0 | 0 | 0 | — | — | — |
| Income before tax | −1 | 41 | 43 | 44 | 76 | 35 | 54 | 53 |
| Income tax | −46 | −11 | 4 | −6 | −1 | −16 | −26 | −19 |
| Net income | 57 | 47 | 68 | 66 | 70 | 56 | 71 | 65 |
| Diluted EPS | $0.13 | $0.10 | $0.15 | $0.14 | $0.14 | $0.11 | $0.14 | $0.13 |
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