Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.44B | $3.57B | $3.75B | $3.87B | $3.80B | $3.83B | $4.13B | $4.50B | $4.92B | $5.83B |
| Revenue growth | — | 3.8% | 4.8% | 3.4% | -2.0% | 0.9% | 7.9% | 8.9% | 9.5% | 18.5% |
| Net income | $651M | $1.36B | $416M | $439M | $441M | $56.6M | -$40.9M | -$30.3M | $88.4M | $262M |
| Net margin | 18.9% | 38.1% | 11.1% | 11.3% | 11.6% | 1.5% | -1.0% | -0.7% | 1.8% | 4.5% |
| EPS (diluted) | $1.86 | $3.78 | $1.14 | $1.17 | $1.17 | $0.13 | -$0.12 | -$0.10 | $0.19 | $0.54 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.35B | $1.43B | $1.38B | $1.44B | $1.45B | $1.03B | $1.12B | $1.12B | $1.33B | $1.65B |
| Capital expenditures | $1.67B | $1.10B | $729M | $1.52B | $607M | $1.80B | $901M | $649M | $2.53B | $2.93B |
| Free cash flow | -$313M | $332M | $653M | -$81.0M | $843M | -$776M | $219M | $470M | -$1.20B | -$1.28B |
| Dividends paid | $1.02B | $827M | $1.13B | $1.16B | $929M | $687M | $720M | $724M | $740M | $860M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $287M | $81.4M | $72.3M | $106M | $413M | $150M | $123M | $509M | $898M | $741M |
| Total assets | $23.2B | $24.0B | $22.6B | $24.7B | $23.9B | $24.7B | $24.2B | $24.7B | $26.2B | $27.6B |
| Total liabilities | $12.4B | $12.9B | $12.1B | $13.9B | $13.4B | $13.5B | $13.7B | $14.9B | $15.0B | $14.6B |
| Long-term debt | $11.1B | $11.3B | $10.7B | $12.2B | $11.9B | $12.0B | $12.3B | $13.5B | $13.5B | $13.0B |
| Shareholders' equity | $10.5B | $10.9B | $10.2B | $10.4B | $10.2B | $10.9B | $10.2B | $9.49B | $10.8B | $12.5B |
| Retained earnings | -$2.49B | -$2.24B | -$2.93B | -$3.67B | -$4.03B | -$4.68B | -$5.45B | -$6.21B | -$6.89B | -$7.53B |
| Shares (wtd avg diluted) | 348M | 359M | 359M | 370M | 377M | 386M | 403M | 406M | 416M | 463M |
Every figure is extracted from Ventas, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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