On 12 Nov 2026 our base value for Ventas is $63.35 a share, 29.3% below its $89.65 close; 0 of 1 valuation methods put it above the price.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Exit multiple (P/E) | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Sum of the parts | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to sales | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Tangible book | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to FFO (REITs) | $63.35 | -29.3% | funds from operations $3.52 a share (FY2025) at its own 5-year median of 18× (today 25.4×) |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
| Fiscal year | Net income | Depreciation | FFO | Shares | FFO per share | Year-end close | P/FFO |
|---|---|---|---|---|---|---|---|
| 2021 | $56.56m | $1.22bn | $1.27bn | 386.30m | $3.29 | $51.12 | 15.5× |
| 2022 | $-40.93m | $1.21bn | $1.17bn | 373.37m | $3.13 | $45.05 | 14.4× |
| 2023 | $-40.97m | $1.17bn | $1.12bn | 405.67m | $2.77 | $49.84 | 18.0× |
| 2024 | $81.15m | $1.17bn | $1.25bn | 416.37m | $3.00 | $58.89 | 19.6× |
| 2025 | $251.38m | $1.38bn | $1.63bn | 462.62m | $3.52 | $77.38 | 22.0× |
| Median P/FFO | 18.0× |
| Latest FFO per share (FY2025) | $3.52 |
| Value per share = median × latest FFO per share | $63.35 |
For a REIT the base value is the price-to-FFO value: $63.35 a share.
Bear $54.73 · Base $63.35 · Bull $69.23 (the REIT's own lower and upper quartile price-to-FFO)
One-year price simulation: a 62% chance the price is higher than today's $89.65 in a year, from 21.53% volatility. The simulation assumes the price drifts up at our discount rate of 9.18% a year.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $84.01 | $59.61 |
| 9 Oct 2026 | $82.04 | $63.35 |
| 16 Oct 2026 | $85.86 | $63.35 |
| 23 Oct 2026 | $86.80 | $63.35 |
| 30 Oct 2026 | $84.80 | $63.35 |
| 6 Nov 2026 | $88.75 | $63.35 |
| 12 Nov 2026 | $89.65 | $63.35 |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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