OHI vs WELL: Omega Healthcare Investors and Welltower compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Welltower is the larger company, worth $157.6B, about 11.2 times Omega Healthcare Investors.
- Welltower grew revenue faster over the last year (+49.1% vs -95.0%).
- On earnings, Omega Healthcare Investors is the cheaper stock (21.8x vs 107.9x).
- Welltower's price assumes faster free cash flow growth: about 24% a year, against 3% for Omega Healthcare Investors (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | OHI | WELL |
|---|---|---|
| Market cap | $14.1B | $157.6B |
| Share price | $44.41 | $225.47 |
| Revenue (last fiscal year) | $1.2B | $8.5B |
| Free cash flow (last fiscal year) | $798M | $1.8B |
| Revenue growth, last year | -95.0% | +49.1% |
| Revenue growth per year, last 5 fiscal years | +2.9% | +27.5% |
| Operating margin | — | -29.1% |
| Net margin | 131.8% | 15.0% |
| Return on equity | 15.9% | 3.2% |
| P/E (trailing) | 21.8x | 107.9x |
| Price / free cash flow | 16.0x | 55.3x |
| EV / EBITDA | 12.0x | 63.2x |
| FCF growth the price implies | 3.3% | 24.3% |
| Dividend yield | 6.0% | 1.4% |
| Debt / equity | 0.81x | 0.51x |
| Fundamental grade | B | C |
| Superinvestors holding it | 0 | 7 |
| Insider purchases, last 12 months | 2 | 6 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Omega Healthcare Investors
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.1B | $677M | — |
| 2022 | $878M | $579M | — |
| 2023 | $950M | $580M | — |
| 2024 | $1.1B | $712M | — |
| 2025 | $1.2B | $798M | — |
Welltower
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.2B | $993M | -43.0% |
| 2022 | $4.2B | $853M | -36.3% |
| 2023 | $4.8B | $1.1B | -32.3% |
| 2024 | $6.0B | $1.4B | -23.9% |
| 2025 | $8.5B | $1.8B | -33.9% |
Where the revenue comes from
Omega Healthcare Investors
No segment breakdown reported.
Welltower · by segments, 2025
Seniors Housing Operating$8.5B81%
Triple-net$1.2B11%
Outpatient Medical$782M7%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open OHI in InvestinglyQuestions
Which is bigger, Omega Healthcare Investors or Welltower?
Welltower (WELL), at $157.6B against $14.1B.
Is OHI or WELL cheaper?
By trailing P/E, Omega Healthcare Investors (21.8x) is cheaper than Welltower (107.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, OHI or WELL?
Welltower: revenue grew +49.1% over the last year, against -95.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.