Revenue: As of FY2025, the actual value is USD 5.834 B, beating the estimate of USD 5.794 B.EPS: As of FY2025, the actual value is USD 0.54, beating the estimate of USD 0.491.EBIT: As of FY2025, the actual value is USD 1.385 B.<h4>Fourth Quarter 2025 Company Results</h4><ul><li>Attributable Net Income per share: $0.15, an increase of 15% compared to the prior year ($0.13) .</li><li>Normalized FFO per share: $0.89, an increase of approximately 10% compared to the prior year ($0.81) .</li><li>Total Company NOI year-over-year growth: 15% .</li><li>Total Company Same-Store Cash NOI year-over-year growth: 8% .</li><li>SHOP Same-Store Cash NOI year-over-year growth: over 15%, led by the U.S. portfolio with 18% growth .</li><li>U.S. average occupancy growth (SHOP): 370 basis points, including 490 basis points growth at U.S. independent living communities .</li><li>Net Debt-to-Further Adjusted EBITDA: 5.2x as of December 31, 2025 .</li><li>Liquidity: $5.3 billion as of December 31, 2025 .</li></ul><h4>Full Year 2025 Company Results</h4><ul><li>Attributable Net Income per share: $0.54, an increase of 184% compared to the prior year ($0.19) .</li><li>Normalized FFO per share: $3.48, an increase of approximately 9% compared to the prior year ($3.19) .</li><li>Total Company NOI year-over-year growth: 16% .</li><li>Total Company Same-Store Cash NOI year-over-year growth: 8% .</li><li>SHOP Same-Store Cash NOI year-over-year growth: over 15%, led by the U.S. with more than 18% growth .</li><li>Senior Housing Investments: $2.5 billion closed in 2025 .</li><li>Equity Raised: $3.2 billion during 2025, with $1.2 billion of unsettled equity forward sales agreements outstanding .</li></ul><h4>Segment Revenue</h4><ul><li>For the Three Months Ended December 31, 2025:<ul><li>Triple-net leased properties rental income: $132,713 thousand .</li><li>Outpatient medical and research portfolio rental income: $226,756 thousand .</li><li>Resident fees and services: $1,185,999 thousand .</li><li>Total revenues: $1,566,017 thousand .</li></ul></li><li>For the Twelve Months Ended December 31, 2025:<ul><li>Triple-net leased properties rental income: $601,578 thousand .</li><li>Outpatient medical and research portfolio rental income: $895,089 thousand .</li><li>Resident fees and services: $4,276,163 thousand .</li><li>Total revenues: $5,833,980 thousand .</li></ul></li></ul><h4>Operational Costs</h4><ul><li>For the Three Months Ended December 31, 2025:<ul><li>Total expenses: $1,489,731 thousand .</li><li>Property-level operating expenses - Senior housing: $855,147 thousand .</li><li>Property-level operating expenses - Outpatient medical and research portfolio: $77,639 thousand .</li><li>Property-level operating expenses - Triple-net leased properties: $3,000 thousand .</li></ul></li><li>For the Twelve Months Ended December 31, 2025:<ul><li>Total expenses: $5,629,659 thousand .</li><li>Property-level operating expenses - Senior housing: $3,092,099 thousand .</li><li>Property-level operating expenses - Outpatient medical and research portfolio: $307,733 thousand .</li><li>Property-level operating expenses - Triple-net leased properties: $13,505 thousand .</li></ul></li></ul><h4>Operating Profit</h4><ul><li>Income before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests:<ul><li>Q4 2025: $76,286 thousand .</li><li>FY 2025: $204,321 thousand .</li></ul></li></ul><h4>Net Real Estate Property</h4><ul><li>As of December 31, 2025: $24,126,933 thousand .</li><li>As of December 31, 2024: $22,600,545 thousand .</li></ul><h4>Cash and Cash Equivalents</h4><ul><li>As of December 31, 2025: $741,067 thousand .</li><li>As of December 31, 2024: $897,850 thousand .</li></ul><h4>Net Debt</h4><ul><li>As of December 31, 2025: $12,649,448 thousand .</li></ul><h4>Dividend</h4><ul><li>Quarterly Dividend: $0.52 per common share, representing an 8% increase .</li></ul><h4>Senior Housing Investments (Year to Date 2026)</h4><ul><li>Investments Closed: Over $0.8 billion .</li></ul><h4>Full Year 2026 Guidance</h4>芬塔 (Ventas, Inc.) projects 2026 Attributable Net Income per share to be between $0.52 and $0.62, with a midpoint of $0.57, reflecting a 6% increase from 2025 . Normalized FFO per share is anticipated to be between $3.78 and $3.88, with a midpoint of $3.83, signifying an 8% growth compared to 2025 on a comparable basis . The company expects significant NOI growth in the SHOP segment and accretive senior housing investment activity, including approximately $2.5 billion in new senior housing investments, partially offset by a Brookdale lease expiry and higher net interest expense .

Ventas | 8-K: FY2025 Revenue Beats Estimate at USD 5.834 B