What is Welltower Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Welltower Inc.'s reported free cash flow gives $69.58 per share. The share price was $231.37 on September 25, 2026, 233% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $34.64 | -85% |
| Base | 15.0% | 9.0% | $69.58 | -70% |
| Bull | 20.0% | 8.0% | $134.64 | -42% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $96.03 | $104.28 | $114.36 | $126.96 | $143.17 |
| 8.0% | $76.16 | $81.51 | $87.83 | $95.42 | $104.69 |
| 9.0% | $61.70 | $65.36 | $69.58 | $74.50 | $80.32 |
| 10.0% | $50.74 | $53.34 | $56.28 | $59.65 | $63.54 |
| 11.0% | $42.16 | $44.06 | $46.19 | $48.59 | $51.31 |
Where the presets come from
Base: years 1 to 5 grow at Welltower Inc.'s revenue growth rate over the last 5 fiscal years (18.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions