Ventas, Inc.

VTR

Financial Statements

Income Statement (Annual)

Amounts in millions

2024

12/31/2024

Revenue

4,924

Cost of Revenue

2,827

Gross Profit

2,097

Gross Margin

42.6%

Operating Income

681

Operating Margin

13.8%

Net Income

Net Margin

1.6%

EPS (Basic)

$0.20

EPS (Diluted)

$0.19

EBITDA

1,937

EBITDA Margin

39.3%

2023

12/31/2023

Revenue

4,498

Cost of Revenue

2,561

Gross Profit

1,937

Gross Margin

43.1%

Operating Income

416

Operating Margin

9.2%

Net Income

-41

Net Margin

-0.9%

EPS (Basic)

$-0.10

EPS (Diluted)

$-0.10

EBITDA

1,949

EBITDA Margin

43.3%

2022

12/31/2022

Revenue

4,129

Cost of Revenue

2,283

Gross Profit

1,846

Gross Margin

44.7%

Operating Income

484

Operating Margin

11.7%

Net Income

-47

Net Margin

-1.1%

EPS (Basic)

$-0.13

EPS (Diluted)

$-0.13

EBITDA

1,620

EBITDA Margin

39.2%

2021

12/31/2021

Revenue

3,828

Cost of Revenue

2,088

Gross Profit

1,740

Gross Margin

45.4%

Operating Income

421

Operating Margin

11.0%

Net Income

Net Margin

1.3%

EPS (Basic)

$0.13

EPS (Diluted)

$0.13

EBITDA

1,717

EBITDA Margin

44.8%

2020

12/31/2020

Revenue

3,795

Cost of Revenue

1,940

Gross Profit

1,856

Gross Margin

48.9%

Operating Income

591

Operating Margin

15.6%

Net Income

439

Net Margin

11.6%

EPS (Basic)

$1.18

EPS (Diluted)

$1.17

EBITDA

1,945

EBITDA Margin

51.2%

Income Statement (Annual)

Financial performance (amounts in millions)

Item	2024	2023	2022	2021	2020
Revenue	4,924	4,498	4,129	3,828	3,795
Cost of Revenue	2,827	2,561	2,283	2,088	1,940
Gross Profit	2,097	1,937	1,846	1,740	1,856
Gross Margin	42.6%	43.1%	44.7%	45.4%	48.9%
Operating Income	681	416	484	421	591
Operating Margin	13.8%	9.2%	11.7%	11.0%	15.6%
Net Income	81	-41	-47	49	439
Net Margin	1.6%	-0.9%	-1.1%	1.3%	11.6%
EPS (Basic)	$0.20	$-0.10	$-0.13	$0.13	$1.18
EPS (Diluted)	$0.19	$-0.10	$-0.13	$0.13	$1.17
EBITDA	1,937	1,949	1,620	1,717	1,945
EBITDA Margin	39.3%	43.3%	39.2%	44.8%	51.2%