Welltower Inc. — Earnings Quality Grade F
WELL · Real Estate
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 81 days, change +2 days YoY
AR growth 38.6% vs revenue growth 35.8%
Revenue 35.8%, CFFO 27.7%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -41.8% vs revenue 35.8%. Normal
SG&A/Gross Profit = 41.8%. Normal
Gross margin 39.2%, change +0.7pp. Stable
Cash Flow Quality
CFFO/NI = 3.08. Profits backed by cash
FCF $2.8B, FCF/NI = 3.04
Accruals ratio = -2.9%. Low accruals
Cash $5.0B covers only 24% of debt $21.4B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 9.3x (>4x). Interest coverage = 0.5x (<2x). Financial stress
Insufficient data
Write-offs normal
Acquisition Risk
FCF after acquisitions negative for 3 years
No goodwill
Manipulation Score
M-Score = -3.02 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score — Not Applicable
Welltower Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10