VentasVTREarnings & Financial Report
Ventas is a leading real estate investment trust specializing in healthcare-related real estate assets. Its portfolio includes senior housing, medical offices, life science research facilities and rehabilitation centers, operating mainly across North America and the UK, serving healthcare operators and life science groups.
Revenue
$1.2B
Gross Profit
N/A
Operating Profit
$19.1M
Net Profit
$21.0M
Gross Margin
N/A
Operating Margin
1.5%
Net Margin
1.7%
YoY Growth
7.5%
EPS
$0.05
Ventas Q3 FY2024 Financial Summary
Ventas reported revenue of $1.2B (up 7.5% YoY) for Q3 FY2024, with a net profit of $21.0M (up 130.2% YoY) (1.7% margin).
Key Financial Metrics
| Total Revenue | $1.2B |
|---|---|
| Net Profit | $21.0M |
| Gross Margin | N/A |
| Operating Margin | 1.5% |
| Report Period | Q3 FY2024 |
Revenue Breakdown
Ventas Q3 FY2024 revenue of $1.2B breaks down across 4 segments, led by Senior Housing Operating Portfolio SHOP at $845.5M (68.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Senior Housing Operating Portfolio SHOP | $845.5M | 68.4% |
| Outpatient Medical And Research Portfolio | $221.6M | 17.9% |
| Triple Net Leased Properties | $155.3M | 12.6% |
| Third Party Capital Management | $4.4M | 0.4% |
Ventas Revenue by Segment — Quarterly Trend
Ventas revenue by segment across the last 4 reported quarters, showing how each business line (such as Senior Housing Operating Portfolio SHOP and Outpatient Medical And Research Portfolio) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Senior Housing Operating Portfolio SHOP | — | — | $1.1B | $1.0B |
| Outpatient Medical And Research Portfolio | — | — | $226.9M | $221.5M |
| Triple Net Leased Properties | — | — | $160.1M | $152.7M |
| Third Party Capital Management | — | — | $4.5M | $4.4M |
Ventas Annual Revenue by Year
Ventas annual revenue history includes year-by-year totals (for example, 2025 revenue was $5.8B).
| Year | Annual Revenue |
|---|---|
| 2025 | $5.8B |
| 2024 | $4.9B |
| 2023 | $4.5B |
| 2022 | $4.1B |
Ventas Quarterly Revenue & Net Profit History
Ventas results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $1.7B | +22.0% | $59.0M | 3.6% |
| Q4 FY2025 | $1.6B | +21.7% | $73.0M | 4.7% |
| Q3 FY2025 | $1.5B | +20.4% | $68.7M | 4.6% |
| Q2 FY2025 | $1.4B | +18.3% | $71.5M | 5.0% |
| Q1 FY2025 | $1.4B | +13.2% | $48.4M | 3.6% |
| Q4 FY2024 | $1.3B | +10.5% | $58.7M | 4.6% |
| Q3 FY2024 | $1.2B | +7.5% | $21.0M | 1.7% |
| Q2 FY2024 | $1.2B | +8.6% | $21.2M | 1.8% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.20B | $1.24B | $1.29B | $1.36B | $1.42B | $1.49B | $1.57B | $1.66B |
| YoY Growth | 8.6% | 7.5% | 10.5% | 13.2% | 18.3% | 20.4% | 21.7% | 22.0% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $24.53B | $25.35B | $26.19B | $26.03B | $26.47B | $26.93B | $27.59B | $27.69B |
| Liabilities | $14.55B | $15.19B | $15.05B | $14.17B | $14.55B | $14.15B | $14.63B | $14.11B |
| Equity | $9.62B | $9.76B | $10.77B | $11.47B | $11.53B | $12.36B | $12.53B | $13.18B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $335.9M | $353.7M | $373.6M | $321.1M | $475.3M | $378.6M | $471.7M |