Ventas Q1 FY26: where the revenue came from and where it went
The whole income statement of Ventas for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2026
- Reported
- Apr 28, 2026
Revenue$1.66B
+22% year over year
Operating profit$0.04B
2% margin
Net profit$0.06B
4% margin
Net profit is larger than what operations earned, because the statement adds $0.02B below it, under Tax benefit.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 1.66 | 100% | +22% |
| Operating expenses | −1.62 | 98% | |
| Property operating | −1.00 | 60% | +3pp |
| Interest | −0.16 | 9% | −2pp |
| Underwriting | −0.01 | 1% | +0pp |
| G&A | −0.06 | 4% | +0pp |
| Other | −0.39 | 24% | +0pp |
| Operating profit | 0.04 | 2% margin | −1pp |
| Tax benefit | 0.02 | ||
| Net profit | 0.06 | 4% margin | +0pp |
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