WELLTOWER INC. FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$8.5B
Gross margin	23.2%
Operating income	— not reported
Net income	— not reported
Diluted EPS	$1.39
Cash & equivalents	$5.0B
Total assets	$67.3B
Long-term debt	$19.2B

Key takeaway

Welltower reported $8.45 billion in revenue and diluted EPS of $1.39 for fiscal year 2025.

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Beneath the surface

Cash and equivalents of $5.03 billion versus total debt of roughly $19.36 billion leaves a net debt position of about $14.3 billion, a more meaningful leverage picture than the headline long-term debt figure alone suggests.

🔒 4 more insights a headline reader would miss