--- title: "Ventas | 8-K: FY2025 Revenue Beats Estimate at USD 5.834 B" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/275036434.md" datetime: "2026-02-05T21:50:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/275036434.md) - [en](https://longbridge.com/en/news/275036434.md) - [zh-HK](https://longbridge.com/zh-HK/news/275036434.md) --- > 支持的语言: [English](https://longbridge.com/en/news/275036434.md) | [繁體中文](https://longbridge.com/zh-HK/news/275036434.md) # Ventas | 8-K: FY2025 Revenue Beats Estimate at USD 5.834 B 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. #### Fourth Quarter 2025 Company Results - **Attributable Net Income per share:** $0.15, an increase of 15% compared to the prior year ($0.13) . - **Normalized FFO per share:** $0.89, an increase of approximately 10% compared to the prior year ($0.81) . - **Total Company NOI year-over-year growth:** 15% . - **Total Company Same-Store Cash NOI year-over-year growth:** 8% . - **SHOP Same-Store Cash NOI year-over-year growth:** over 15%, led by the U.S. portfolio with 18% growth . - **U.S. average occupancy growth (SHOP):** 370 basis points, including 490 basis points growth at U.S. independent living communities . - **Net Debt-to-Further Adjusted EBITDA:** 5.2x as of December 31, 2025 . - **Liquidity:** $5.3 billion as of December 31, 2025 . #### Full Year 2025 Company Results - **Attributable Net Income per share:** $0.54, an increase of 184% compared to the prior year ($0.19) . - **Normalized FFO per share:** $3.48, an increase of approximately 9% compared to the prior year ($3.19) . - **Total Company NOI year-over-year growth:** 16% . - **Total Company Same-Store Cash NOI year-over-year growth:** 8% . - **SHOP Same-Store Cash NOI year-over-year growth:** over 15%, led by the U.S. with more than 18% growth . - **Senior Housing Investments:** $2.5 billion closed in 2025 . - **Equity Raised:** $3.2 billion during 2025, with $1.2 billion of unsettled equity forward sales agreements outstanding . #### Segment Revenue - **For the Three Months Ended December 31, 2025:** - **Triple-net leased properties rental income:** $132,713 thousand . - **Outpatient medical and research portfolio rental income:** $226,756 thousand . - **Resident fees and services:** $1,185,999 thousand . - **Total revenues:** $1,566,017 thousand . - **For the Twelve Months Ended December 31, 2025:** - **Triple-net leased properties rental income:** $601,578 thousand . - **Outpatient medical and research portfolio rental income:** $895,089 thousand . - **Resident fees and services:** $4,276,163 thousand . - **Total revenues:** $5,833,980 thousand . #### Operational Costs - **For the Three Months Ended December 31, 2025:** - **Total expenses:** $1,489,731 thousand . - **Property-level operating expenses - Senior housing:** $855,147 thousand . - **Property-level operating expenses - Outpatient medical and research portfolio:** $77,639 thousand . - **Property-level operating expenses - Triple-net leased properties:** $3,000 thousand . - **For the Twelve Months Ended December 31, 2025:** - **Total expenses:** $5,629,659 thousand . - **Property-level operating expenses - Senior housing:** $3,092,099 thousand . - **Property-level operating expenses - Outpatient medical and research portfolio:** $307,733 thousand . - **Property-level operating expenses - Triple-net leased properties:** $13,505 thousand . #### Operating Profit - **Income before unconsolidated entities, real estate dispositions, income taxes and noncontrolling interests:** - Q4 2025: $76,286 thousand . - FY 2025: $204,321 thousand . #### Net Real Estate Property - **As of December 31, 2025:** $24,126,933 thousand . - **As of December 31, 2024:** $22,600,545 thousand . #### Cash and Cash Equivalents - **As of December 31, 2025:** $741,067 thousand . - **As of December 31, 2024:** $897,850 thousand . #### Net Debt - **As of December 31, 2025:** $12,649,448 thousand . #### Dividend - **Quarterly Dividend:** $0.52 per common share, representing an 8% increase . #### Senior Housing Investments (Year to Date 2026) - **Investments Closed:** Over $0.8 billion . #### Full Year 2026 Guidance 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 . ### 相关股票 - [Ventas (VTR.US)](https://longbridge.com/zh-CN/quote/VTR.US.md) ## 相关资讯与研究 - [Vinva Investment Management Ltd Sells 19,760 Shares of Ventas, Inc. $VTR](https://longbridge.com/zh-CN/news/278714839.md) - [Focus Partners Advisor Solutions LLC Purchases 15,273 Shares of Ventas, Inc. $VTR](https://longbridge.com/zh-CN/news/278060896.md) - [Analyst Expectations For Ventas's Future](https://longbridge.com/zh-CN/news/277783419.md) - [Ventas' Growth, Investments in Senior Housing May Lift Earnings, RBC Says](https://longbridge.com/zh-CN/news/275490612.md) - [Execution Risks Threaten Ventas’ Capital Recycling Strategy and Portfolio Optimization](https://longbridge.com/zh-CN/news/275218652.md)