Ventas owns a diversified healthcare portfolio of almost 1,400 in-place properties spread across the senior housing, medical office, hospital, life science, and skilled nursing/post-acute care.
It is a $42.1B real estate company. Revenue grew 21.5% over the last year, it keeps 4¢ of every dollar of sales as profit, and its net debt equals ~6.9 years of free cash flow. It trades at 165.0× earnings — around the middle of its own history.
- Website
- ventasreit.com
- Location
- Chicago, IL
- Employees
- 542
- Sector
- Real Estate
- Founded
- 1998
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Profitability, Health and Moat lag behind.
Valuation56
- P/E vs own history37th pct · 20/25
- FCF yield4.3% · 12/25
- P/S6.7x · 12/25
- EV/EBITDA24.5x · 12/25
Growth70
- Revenue CAGR11.1% · 20/25
- Net income CAGR50.5% · 25/25
- EPS CAGR ~5Y-14.3% · 0/25
- Fwd implied growth67.1% · 25/25
Profitability28
- ROIC2.9% · 5/25
- ROE1.9% · 5/25
- Net margin4.1% · 6/25
- Operating margin13.6% · 12/25
Health11
- Altman Z-0.26 · 3/25
- Current ratio0.13 · 0/25
- Interest coverage1.4x · 3/25
- Net cash / debtD/A 45% · 5/25
Quality67
- Piotroski F7/9 · 22/25
- Beneish M-3.08 · 25/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 7.1% · 20/25
Moat30
- ROIC >12% years0/10 yrs · 0/25
- Median gross margin2.8% · 0/25
- FCF-positive years4/4 yrs · 25/25
- Worst-year net marginworst -1.1% · 5/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2021AcquisitionVentas announced the acquisition of New Senior Investment Group
- FY2017FinancialBest year on record$1.36B net income
- FY2016FinancialFirst recorded profitable year$649M net income
- FY2016FinancialRevenue already above $1B$3.44B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2015AcquisitionVentas acquired the real estate investments of Ardent Health Services in 2015
- 1998FoundedThe company was founded in 1998 as a spin-off of Vencor, a company founded by Bruce Lunsford, who would later be an…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (40.2%)
- Revenue growing 21.5% year over year
- Strong cash conversion — FCF is 28.0% of revenue
- Piotroski F-Score 7/9 — fundamentally strong checklist
Watch-outs
- Altman Z-Score -0.26 — elevated financial-distress risk
- Thin interest coverage (1.4×)
- Loss-making in 2 of the recent years
- Net debt equals ~6.9 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+21.5% YoY
- Profitable — makes more than it spends$263M TTM
- Profit growing — earnings are higher than last year-14.2% YoY
- Generates cash — cash left after running and investing$1.80B TTM
- Debt under control — could handle its obligations~6.9y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$42.1B market cap
- Not printing shares — share count not ballooning — you keep your slice+24.0% shares over ~5y
- Proven track record — years of profitability behind it8/10 profitable years
- Financially stable — balance sheet not near distressAltman Z -0.3 — distress
- Pays a dividend — returns cash to shareholdersyield 2.14%
- Valuation not extreme — price not wildly above earningsP/E 165.0
Peer comparisonVentas, Inc. vs 6 largest real estate peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| VTR this company | $42.1B | 165.0 | +21.5% | 4.1% | Strained |
| WELL Welltower Inc. | $162.5B | 108.1 | +37.6% | 12.1% | Strained |
| PLD Prologis, Inc. | $123.1B | 29.8 | +7.3% | 45.8% | Strained |
| EQIX Equinix, Inc. | $101.2B | 66.0 | +9.6% | 15.6% | Strained |
| AMT American Tower Corporation | $84.5B | 25.0 | +14.2% | 31.1% | Strained |
| DLR Digital Realty Trust, Inc. | $66.6B | 83.0 | +17.4% | 11.8% | Strained |
| SPG Simon Property Group, Inc. | $64.7B | 14.0 | +15.0% | 66.5% | Strained |
Head-to-head: VTR vs WELL · VTR vs PLD · VTR vs EQIX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/VTR
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Deeper analysis of VTR on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $82.04 · market cap $42.1B.