Snapshot
Ventas, Inc. reported $359M of revenue in Q4 2025, up -3.8% year over year, with diluted EPS of $0.15 and an operating margin of 59.7%.
- Revenue
- $359M
- YoY growth
- +-3.8%
- Diluted EPS
- $0.15
- Operating margin
- 59.7%
$359M
Revenue
+-3.8%
YoY growth
$0.15
Diluted EPS
59.7%
Operating margin
01 Key takeaways
What management said
- •Yesterday, we issued our fourth quarter and full year 2025 earnings release, presentation materials, and supplemental information package, which are available on the Ventas website at ir.ventasreit.com.
- •For a more detailed discussion of those factors, please refer to our earnings release for this quarter and to our most recent SEC filings, all of which are available on the Ventas website.
- •I want to welcome all of our shareholders and other participants to the Ventas Fourth Quarter and Full Year 2025 Earnings Call.
- •As secular demand from a large and growing aging population strengthens and supply remains constrained, we are intent on the significant value creation opportunity ahead.
- •Our normalized FFO per share increased by 9%, and our same-store SHOP cash net operating income grew 15%, our fourth consecutive year of double-digit SHOP NOI growth.
- •We raised $7 billion of capital from a wide array of sources at attractive prices during the year.
- •Our investment activity also accelerated as we closed $2.5 billion of high-quality senior housing investments that enhance our enterprise growth.
- •Our investors were rewarded in 2025 as Ventas delivered total shareholder returns of 35%, significantly outperforming our industry benchmarks by wide margins and the S&P 500 in a year when it reached record highs.
- •We are keenly focused on the multi-year NOI growth and value creation opportunities ahead.
- •Let's start with the durable and powerful demand trends in senior housing.
- •Both sides of this demand-supply imbalance are weighted strongly in our favor...
- •With a long runway ahead, we intend to continue executing our strategic vision of, 1, delivering outsized senior housing organic growth.