)
Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Ventas
Ventas (VTR) investor relations material
Ventas Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Q3 2025 delivered strong financial results, with double-digit growth in senior housing operating portfolio (SHOP) NOI and normalized FFO per share, driven by robust U.S. performance, strategic acquisitions, and demographic tailwinds.
SHOP now represents about half of enterprise NOI, reflecting a strategic focus on private pay senior housing and significant occupancy and NOI upside.
Closed $2.2B in senior housing acquisitions year to date, with 2025 investment guidance raised to $2.5B and $2.6B in equity raised.
Net debt to EBITDA improved to 5.3x, a full turn better than Q3 2024, with liquidity at $4.1B as of September 30, 2025.
Transitioned 27 of 45 Brookdale communities from triple net to SHOP, targeting $50M+ NOI upside over time.
Financial highlights
Normalized FFO per share for Q3 2025 was $0.88, up 10% year-over-year; total company same store cash NOI increased 8%.
Q3 2025 net income attributable to common stockholders was $66.0 million, up from $19.2 million in Q3 2024.
Q3 2025 total revenues were $1.49 billion, a 20% increase year-over-year.
SHOP same store cash NOI grew 16% year-over-year, with U.S. SHOP up 19% and 340 bps occupancy growth.
Outpatient Medical and Research (OMAR) segment reported 3.7% same store cash NOI growth; triple-net segment declined 2.1%.
Outlook and guidance
Full-year 2025 normalized FFO per share guidance raised to $3.45–$3.48, with 9% year-over-year growth expected.
Attributable net income per share guidance increased to $0.49–$0.52.
Senior housing investment volume guidance for 2025 increased to $2.5B, with G&A expenses at $178M and interest expense at $615M.
SHOP same store NOI growth guidance increased to 14%-16%, with expected 270 bps occupancy growth and higher RevPOR.
Impact of Ventas OIT platform on SHOP margins?
Rationale for increased senior housing investments?
Key drivers of updated 2025 Normalized FFO guidance?
SHOP margin expansion outlook?
Brookdale conversion NOI upside timing?
Research portfolio strategy amid challenges?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Ventas earnings date
Q4 20256 Feb, 2026
Ventas
Next Ventas earnings date
Q4 20256 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Ventas is a leading healthcare real estate investment trust, or REIT, with ownership interests in 169 healthcare properties. The company's operating strategy focuses on acquiring real estate that can be readily repositioned to take advantage of existing or anticipated healthcare spending growth through acquisitions, management contracts and direct property ownership. As a result, Ventas has a diverse portfolio consisting of senior housing, long-term acute care hospitals, medical office buildings and ambulatory surgical centers. With a seasoned management team and deep experience in real estate and healthcare, the company is well-positioned to take advantage of industry tailwinds in the years ahead.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage