WELL EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
WELL's ev/ebitda is higher than 95% of the last 10 years.
EV/EBITDA History
WELL EV/EBITDA by year
Yearly range of WELL’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 13.4 to 73.3, averaging 28.3.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 59.6 | 65.2 | 73.3 | 63.2 |
| 2025 | 33.1 | 38.1 | 64.1 | 64.1 |
| 2024 | 24.9 | 30.5 | 37.1 | 33.5 |
| 2023 | 22.6 | 25.2 | 27.3 | 26.9 |
| 2022 | 20.7 | 27.1 | 33.6 | 22.5 |
| 2021 | 24.6 | 31.5 | 36.7 | 30.4 |
| 2020 | 13.4 | 19.4 | 25.9 | 25.9 |
| 2019 | 20.1 | 23.2 | 26.3 | 22.6 |
| 2018 | 17.2 | 19.9 | 23.6 | 20.5 |
| 2017 | 16.7 | 18.2 | 19.4 | 18.3 |
| 2016 | 16.5 | 17.7 | 19.2 | 17.5 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is WELL EV/EBITDA High or Low Right Now?
Welltower Inc.'s EV/EBITDA is currently 63.2, which is near historic high relative to its 10-year historical range. The 10-year median EV/EBITDA for WELL is approximately 25.1. See all WELL valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.