Intrinsic value of Welltower - HCN

Previous Close

$66.94

  Intrinsic Value

$9.99

stock screener

  Rating & Target

str. sell

-85%

Previous close

$66.94

 
Intrinsic value

$9.99

 
Up/down potential

-85%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as HCN.

We calculate the intrinsic value of HCN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 24.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.91
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  4,281
  4,367
  4,467
  4,582
  4,711
  4,854
  5,010
  5,181
  5,366
  5,565
  5,778
  6,007
  6,250
  6,510
  6,786
  7,079
  7,389
  7,717
  8,064
  8,431
  8,819
  9,227
  9,658
  10,113
  10,592
  11,096
  11,627
  12,186
  12,774
  13,392
  14,043
Variable operating expenses, $m
 
  2,729
  2,792
  2,863
  2,944
  3,033
  3,130
  3,237
  3,352
  3,476
  3,609
  3,745
  3,897
  4,058
  4,230
  4,413
  4,606
  4,811
  5,027
  5,256
  5,498
  5,752
  6,021
  6,304
  6,603
  6,917
  7,248
  7,597
  7,963
  8,349
  8,754
Fixed operating expenses, $m
 
  398
  408
  418
  428
  439
  450
  461
  473
  485
  497
  509
  522
  535
  548
  562
  576
  590
  605
  620
  636
  652
  668
  685
  702
  719
  737
  756
  775
  794
  814
Total operating expenses, $m
  3,053
  3,127
  3,200
  3,281
  3,372
  3,472
  3,580
  3,698
  3,825
  3,961
  4,106
  4,254
  4,419
  4,593
  4,778
  4,975
  5,182
  5,401
  5,632
  5,876
  6,134
  6,404
  6,689
  6,989
  7,305
  7,636
  7,985
  8,353
  8,738
  9,143
  9,568
Operating income, $m
  1,228
  1,240
  1,268
  1,301
  1,339
  1,382
  1,430
  1,483
  1,541
  1,604
  1,673
  1,753
  1,832
  1,917
  2,007
  2,104
  2,207
  2,316
  2,432
  2,555
  2,685
  2,823
  2,969
  3,124
  3,287
  3,459
  3,641
  3,833
  4,036
  4,249
  4,475
EBITDA, $m
  2,138
  2,172
  2,221
  2,279
  2,344
  2,417
  2,499
  2,588
  2,685
  2,790
  2,904
  3,026
  3,157
  3,296
  3,445
  3,604
  3,772
  3,951
  4,141
  4,342
  4,554
  4,779
  5,016
  5,267
  5,532
  5,811
  6,105
  6,416
  6,743
  7,088
  7,451
Interest expense (income), $m
  542
  531
  545
  559
  576
  594
  614
  636
  661
  687
  715
  745
  777
  812
  849
  888
  929
  973
  1,020
  1,069
  1,121
  1,176
  1,234
  1,295
  1,359
  1,427
  1,498
  1,573
  1,652
  1,736
  1,823
Earnings before tax, $m
  709
  709
  723
  741
  763
  788
  816
  847
  881
  918
  958
  1,008
  1,055
  1,105
  1,158
  1,216
  1,277
  1,343
  1,412
  1,486
  1,564
  1,648
  1,736
  1,829
  1,928
  2,032
  2,143
  2,260
  2,383
  2,514
  2,651
Tax expense, $m
  -19
  191
  195
  200
  206
  213
  220
  229
  238
  248
  259
  272
  285
  298
  313
  328
  345
  362
  381
  401
  422
  445
  469
  494
  521
  549
  579
  610
  643
  679
  716
Net income, $m
  1,078
  517
  527
  541
  557
  575
  596
  618
  643
  670
  699
  736
  770
  806
  846
  888
  932
  980
  1,031
  1,085
  1,142
  1,203
  1,267
  1,335
  1,407
  1,484
  1,564
  1,650
  1,740
  1,835
  1,935

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  419
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  28,865
  29,111
  29,780
  30,546
  31,405
  32,357
  33,402
  34,539
  35,771
  37,097
  38,521
  40,044
  41,669
  43,400
  45,239
  47,190
  49,258
  51,447
  53,762
  56,208
  58,791
  61,516
  64,390
  67,419
  70,611
  73,972
  77,512
  81,237
  85,157
  89,281
  93,619
Adjusted assets (=assets-cash), $m
  28,446
  29,111
  29,780
  30,546
  31,405
  32,357
  33,402
  34,539
  35,771
  37,097
  38,521
  40,044
  41,669
  43,400
  45,239
  47,190
  49,258
  51,447
  53,762
  56,208
  58,791
  61,516
  64,390
  67,419
  70,611
  73,972
  77,512
  81,237
  85,157
  89,281
  93,619
Revenue / Adjusted assets
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
  0.150
Average production assets, $m
  25,402
  25,912
  26,507
  27,189
  27,954
  28,801
  29,731
  30,743
  31,839
  33,020
  34,287
  35,643
  37,090
  38,630
  40,267
  42,004
  43,845
  45,793
  47,854
  50,031
  52,330
  54,755
  57,313
  60,010
  62,851
  65,843
  68,993
  72,309
  75,798
  79,469
  83,330
Working capital, $m
  0
  -428
  -438
  -449
  -462
  -476
  -491
  -508
  -526
  -545
  -566
  -589
  -613
  -638
  -665
  -694
  -724
  -756
  -790
  -826
  -864
  -904
  -947
  -991
  -1,038
  -1,087
  -1,139
  -1,194
  -1,252
  -1,312
  -1,376
Total debt, $m
  12,358
  12,680
  13,010
  13,389
  13,813
  14,283
  14,799
  15,361
  15,970
  16,625
  17,328
  18,081
  18,884
  19,738
  20,647
  21,611
  22,633
  23,714
  24,858
  26,066
  27,342
  28,688
  30,108
  31,604
  33,181
  34,841
  36,590
  38,430
  40,367
  42,404
  44,547
Total liabilities, $m
  14,059
  14,381
  14,711
  15,090
  15,514
  15,984
  16,500
  17,062
  17,671
  18,326
  19,029
  19,782
  20,585
  21,439
  22,348
  23,312
  24,334
  25,415
  26,559
  27,767
  29,043
  30,389
  31,809
  33,305
  34,882
  36,542
  38,291
  40,131
  42,068
  44,105
  46,248
Total equity, $m
  14,806
  14,730
  15,069
  15,456
  15,891
  16,373
  16,901
  17,477
  18,100
  18,771
  19,492
  20,262
  21,085
  21,960
  22,891
  23,878
  24,925
  26,032
  27,204
  28,441
  29,748
  31,127
  32,581
  34,114
  35,729
  37,430
  39,221
  41,106
  43,090
  45,176
  47,371
Total liabilities and equity, $m
  28,865
  29,111
  29,780
  30,546
  31,405
  32,357
  33,401
  34,539
  35,771
  37,097
  38,521
  40,044
  41,670
  43,399
  45,239
  47,190
  49,259
  51,447
  53,763
  56,208
  58,791
  61,516
  64,390
  67,419
  70,611
  73,972
  77,512
  81,237
  85,158
  89,281
  93,619
Debt-to-equity ratio
  0.835
  0.860
  0.860
  0.870
  0.870
  0.870
  0.880
  0.880
  0.880
  0.890
  0.890
  0.890
  0.900
  0.900
  0.900
  0.910
  0.910
  0.910
  0.910
  0.920
  0.920
  0.920
  0.920
  0.930
  0.930
  0.930
  0.930
  0.930
  0.940
  0.940
  0.940
Adjusted equity ratio
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506
  0.506

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,078
  517
  527
  541
  557
  575
  596
  618
  643
  670
  699
  736
  770
  806
  846
  888
  932
  980
  1,031
  1,085
  1,142
  1,203
  1,267
  1,335
  1,407
  1,484
  1,564
  1,650
  1,740
  1,835
  1,935
Depreciation, amort., depletion, $m
  910
  932
  953
  978
  1,005
  1,035
  1,069
  1,105
  1,144
  1,186
  1,231
  1,273
  1,325
  1,380
  1,438
  1,500
  1,566
  1,635
  1,709
  1,787
  1,869
  1,956
  2,047
  2,143
  2,245
  2,352
  2,464
  2,582
  2,707
  2,838
  2,976
Funds from operations, $m
  1,615
  1,449
  1,481
  1,519
  1,562
  1,611
  1,664
  1,723
  1,787
  1,856
  1,930
  2,009
  2,094
  2,186
  2,284
  2,388
  2,498
  2,616
  2,740
  2,872
  3,011
  3,158
  3,314
  3,478
  3,652
  3,835
  4,028
  4,232
  4,447
  4,673
  4,911
Change in working capital, $m
  -14
  -8
  -10
  -11
  -13
  -14
  -15
  -17
  -18
  -20
  -21
  -22
  -24
  -25
  -27
  -29
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -45
  -47
  -49
  -52
  -55
  -58
  -61
  -64
Cash from operations, $m
  1,629
  1,458
  1,491
  1,530
  1,575
  1,625
  1,680
  1,740
  1,805
  1,875
  1,951
  2,031
  2,118
  2,212
  2,311
  2,416
  2,529
  2,648
  2,774
  2,908
  3,049
  3,198
  3,356
  3,523
  3,699
  3,885
  4,080
  4,287
  4,504
  4,734
  4,975
Maintenance CAPEX, $m
  0
  -907
  -925
  -947
  -971
  -998
  -1,029
  -1,062
  -1,098
  -1,137
  -1,179
  -1,225
  -1,273
  -1,325
  -1,380
  -1,438
  -1,500
  -1,566
  -1,635
  -1,709
  -1,787
  -1,869
  -1,956
  -2,047
  -2,143
  -2,245
  -2,352
  -2,464
  -2,582
  -2,707
  -2,838
New CAPEX, $m
  0
  -510
  -596
  -681
  -765
  -847
  -930
  -1,013
  -1,096
  -1,181
  -1,267
  -1,356
  -1,447
  -1,540
  -1,637
  -1,737
  -1,841
  -1,948
  -2,061
  -2,177
  -2,299
  -2,426
  -2,558
  -2,696
  -2,841
  -2,992
  -3,150
  -3,316
  -3,489
  -3,671
  -3,861
Cash from investing activities, $m
  -310
  -1,417
  -1,521
  -1,628
  -1,736
  -1,845
  -1,959
  -2,075
  -2,194
  -2,318
  -2,446
  -2,581
  -2,720
  -2,865
  -3,017
  -3,175
  -3,341
  -3,514
  -3,696
  -3,886
  -4,086
  -4,295
  -4,514
  -4,743
  -4,984
  -5,237
  -5,502
  -5,780
  -6,071
  -6,378
  -6,699
Free cash flow, $m
  1,319
  41
  -31
  -98
  -161
  -221
  -279
  -335
  -389
  -443
  -495
  -549
  -601
  -653
  -706
  -759
  -812
  -867
  -922
  -979
  -1,037
  -1,096
  -1,157
  -1,220
  -1,285
  -1,352
  -1,421
  -1,493
  -1,567
  -1,644
  -1,724
Issuance/(repayment) of debt, $m
  -466
  322
  331
  378
  424
  470
  516
  562
  608
  655
  703
  752
  803
  855
  908
  964
  1,022
  1,081
  1,144
  1,208
  1,276
  1,346
  1,420
  1,496
  1,577
  1,661
  1,748
  1,840
  1,937
  2,037
  2,143
Issuance/(repurchase) of shares, $m
  534
  0
  0
  0
  0
  0
  0
  0
  0
  1
  21
  35
  53
  69
  85
  100
  114
  128
  141
  153
  165
  176
  187
  198
  208
  217
  226
  235
  244
  252
  260
Cash from financing (excl. dividends), $m  
  59
  322
  331
  378
  424
  470
  516
  562
  608
  656
  724
  787
  856
  924
  993
  1,064
  1,136
  1,209
  1,285
  1,361
  1,441
  1,522
  1,607
  1,694
  1,785
  1,878
  1,974
  2,075
  2,181
  2,289
  2,403
Total cash flow (excl. dividends), $m
  1,357
  362
  300
  280
  264
  249
  237
  227
  219
  214
  229
  238
  254
  271
  288
  305
  323
  342
  362
  383
  404
  426
  449
  474
  499
  526
  554
  583
  613
  645
  678
Retained Cash Flow (-), $m
  -215
  -343
  -339
  -387
  -435
  -482
  -529
  -576
  -623
  -671
  -720
  -771
  -822
  -876
  -931
  -987
  -1,046
  -1,108
  -1,171
  -1,238
  -1,307
  -1,379
  -1,454
  -1,533
  -1,615
  -1,701
  -1,791
  -1,885
  -1,984
  -2,087
  -2,195
Prev. year cash balance distribution, $m
 
  419
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  438
  -39
  -107
  -171
  -233
  -291
  -348
  -404
  -457
  -491
  -532
  -568
  -605
  -643
  -682
  -723
  -765
  -809
  -855
  -903
  -953
  -1,005
  -1,059
  -1,116
  -1,175
  -1,237
  -1,302
  -1,371
  -1,442
  -1,517
Discount rate, %
 
  8.00
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
PV of cash for distribution, $m
 
  406
  -33
  -83
  -120
  -146
  -163
  -171
  -172
  -167
  -152
  -138
  -122
  -106
  -90
  -75
  -62
  -50
  -39
  -30
  -23
  -17
  -12
  -8
  -6
  -4
  -2
  -2
  -1
  -1
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  99.9
  99.8
  99.7
  99.5
  99.2
  99.0
  98.7
  98.4
  98.1
  97.7
  97.4
  97.1
  96.7
  96.4
  96.0
  95.7
  95.3
  95.0
  94.6
  94.3
  94.0

Welltower Inc. invests with seniors housing operators, post-acute providers and health systems to fund real estate and infrastructure. The Company invests in seniors housing and healthcare real estate. It operates in three segments: triple-net, seniors housing operating and outpatient medical. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities, and outpatient medical properties. Its triple-net properties include independent living facilities, independent supportive living facilities (Canada), continuing care retirement communities, assisted living facilities, care homes with and without nursing (the United Kingdom), Alzheimer's/dementia care facilities, long-term/post-acute care facilities and hospitals. Its outpatient medical properties include outpatient medical buildings.

FINANCIAL RATIOS  of  Welltower (HCN)

Valuation Ratios
P/E Ratio 22.5
Price to Sales 5.7
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 14.9
Price to Free Cash Flow 14.9
Growth Rates
Sales Growth Rate 10.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 83.5%
Total Debt to Equity 83.5%
Interest Coverage 2
Management Effectiveness
Return On Assets 5.6%
Ret/ On Assets - 3 Yr. Avg. 5%
Return On Total Capital 3.9%
Ret/ On T. Cap. - 3 Yr. Avg. 3.2%
Return On Equity 7.3%
Return On Equity - 3 Yr. Avg. 6%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 56.2%
Gross Margin - 3 Yr. Avg. 57.4%
EBITDA Margin 50.5%
EBITDA Margin - 3 Yr. Avg. 51.1%
Operating Margin 28.7%
Oper. Margin - 3 Yr. Avg. 27.4%
Pre-Tax Margin 16.6%
Pre-Tax Margin - 3 Yr. Avg. 14.8%
Net Profit Margin 25.2%
Net Profit Margin - 3 Yr. Avg. 21.1%
Effective Tax Rate -2.7%
Eff/ Tax Rate - 3 Yr. Avg. -0.7%
Payout Ratio 120.5%

HCN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HCN stock intrinsic value calculation we used $4281 million for the last fiscal year's total revenue generated by Welltower. The default revenue input number comes from 2016 income statement of Welltower. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our HCN stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8%, whose default value for HCN is calculated based on our internal credit rating of Welltower, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Welltower.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of HCN stock the variable cost ratio is equal to 62.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $388 million in the base year in the intrinsic value calculation for HCN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.3% for Welltower.

Corporate tax rate of 27% is the nominal tax rate for Welltower. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the HCN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for HCN are equal to 593.4%.

Life of production assets of 28 years is the average useful life of capital assets used in Welltower operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for HCN is equal to -9.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $14806 million for Welltower - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 368.931 million for Welltower is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Welltower at the current share price and the inputted number of shares is $24.7 billion.

RELATED COMPANIES Price Int.Val. Rating
BKD Brookdale Seni 9.61 1.84  str.sell
NHI National Healt 80.74 7.39  str.sell
DOC Physicians Rea 18.67 2.43  str.sell
LTC LTC Properties 46.62 4.68  str.sell
VTR Ventas 64.25 6.76  str.sell
HCP HCP 26.83 2.94  str.sell
MPW Medical Proper 13.99 2.23  str.sell

COMPANY NEWS

▶ 3 Top Healthcare Stocks to Buy in December   [Dec-12-17 09:31AM  Motley Fool]
▶ 3 Dividend Stocks to Buy in December   [Dec-08-17 06:00AM  Motley Fool]
▶ 2 Stocks to Help You Build Retirement Wealth   [Dec-01-17 06:43AM  Motley Fool]
▶ 3 Top Assisted-Living Stocks on the Market Right Now   [Nov-26-17 09:08AM  Motley Fool]
▶ Weekly Top Insider Buys Highlight for the Week of Nov. 24   [Nov-25-17 03:35PM  GuruFocus.com]
▶ 3 Top REITs to Buy Now   [Nov-16-17 07:52AM  Motley Fool]
▶ What to Expect From Welltower Inc. in 2018   [Nov-15-17 08:23AM  Motley Fool]
▶ Welltower reports 3Q results   [07:47AM  Associated Press]
▶ 3 High-Yield Stocks for Building a Nest Egg   [Oct-30-17 09:02PM  Motley Fool]
▶ How to Invest in Healthcare   [09:31AM  Motley Fool]
▶ 2 Cheap Dividend Stocks You Can Buy Right Now   [Oct-29-17 09:03AM  Motley Fool]
▶ 3 Stocks Every Retiree Should Consider Buying   [Oct-19-17 07:34PM  Motley Fool]
▶ 3 Stocks to Own in a Stock Market Crash   [Oct-10-17 10:48AM  Motley Fool]
▶ 3 High-Yield Healthcare Stocks   [Oct-08-17 09:00AM  Motley Fool]
▶ What You Must Know About Welltower Incs (HCN) Return on Equity   [Oct-03-17 06:46PM  Simply Wall St.]
▶ Is Welltower Inc a Buy?   [06:31AM  Motley Fool]
▶ 3 Stocks to Buy for the Next 75 Years   [Oct-01-17 08:00AM  Motley Fool]
▶ At $74.31, Is Welltower Inc (HCN) A Buy?   [Sep-19-17 01:39PM  Simply Wall St.]
▶ 3 Stocks Retirees Should Buy on a Market Pullback   [Sep-14-17 05:22PM  Motley Fool]
▶ [$$] Sabra Health Care Shareholders OK Deal With Care Capital Properties   [Aug-15-17 06:20PM  The Wall Street Journal]
▶ 2 Stocks That Turned $10,000 Into $400,000 or More   [Aug-14-17 08:07AM  Motley Fool]
▶ Welltower Compared to Other Industry Players after 2Q17   [Aug-04-17 09:07AM  Market Realist]
▶ How Welltower Maintained a Strong Balance Sheet in 2Q17   [Aug-02-17 08:57AM  Market Realist]
▶ How Welltower Rewarded Stockholders in 2Q17   [08:57AM  Market Realist]
▶ Welltowers Main Revenue Drivers in 2Q17   [08:57AM  Market Realist]
▶ How Did Welltower Do in I2Q17 Results?   [08:57AM  Market Realist]
▶ Welltower reports 2Q results   [Jul-28-17 10:21PM  Associated Press]
▶ Welltower Inc. Declares Second Quarter 2017 Dividend   [Jul-27-17 04:30PM  PR Newswire]
▶ [$$] Hedge Funds Take Aim at Health Care REIT Merger   [Jul-25-17 12:22PM  The Wall Street Journal]
▶ ETFs with exposure to Welltower, Inc. : July 24, 2017   [Jul-24-17 04:21PM  Capital Cube]
▶ 3 Reasons Welltower Inc. Stock Could Fall   [Jul-20-17 08:03AM  Motley Fool]
▶ How Does Wall Street Rate Welltower among Healthcare REITs?   [Jul-19-17 09:06AM  Market Realist]
▶ How Well Does Welltower Manage Its Balance Sheet?   [Jul-18-17 10:36AM  Market Realist]
▶ The Catholic Church's Top 5 Dividend Stocks   [Jul-15-17 08:03AM  Forbes]
▶ Will Welltower Maintain Its Business Momentum in the Future?   [Jul-14-17 06:05PM  Market Realist]
▶ 3 Reasons Welltower Inc. Stock Could Rise   [Jul-13-17 08:02AM  Motley Fool]
▶ 3 Dividend Stocks for Successful Investors   [Jul-10-17 11:30AM  Motley Fool]
▶ 3 Stocks With Better Dividends Than Welltower Inc.   [Jun-28-17 04:43PM  Motley Fool]
Financial statements of HCN
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.