Equity Lifestyle Pptys Inc Financials

ELS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 67/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Equity Lifestyle Pptys Inc has an operating margin of 24.9%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 21.5% the prior year.

Growth

Equity Lifestyle Pptys Inc's revenue grew a modest 2.5% year-over-year to $1.5B. This slow but positive growth earns a score of 36/100.

Leverage

Equity Lifestyle Pptys Inc has a moderate D/E ratio of 1.84. This balance of debt and equity financing earns a leverage score of 43/100.

Returns

Equity Lifestyle Pptys Inc earns a strong 22.1% return on equity (ROE), meaning it generates $22 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 88/100. This is down from 23.1% the prior year.

Piotroski F-Score Neutral

6/9

Equity Lifestyle Pptys Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.55x

For every $1 of reported earnings, Equity Lifestyle Pptys Inc generates $1.55 in operating cash flow ($596.7M OCF vs $384.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.8x

Equity Lifestyle Pptys Inc earns $2.8 in operating income for every $1 of interest expense ($380.7M vs $137.7M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

This page shows Equity Lifestyle Pptys Inc (ELS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$1.5B

YoY+2.5%

5Y CAGR+8.0%

10Y CAGR+7.0%

Equity Lifestyle Pptys Inc generated $1.5B in revenue in fiscal year 2024. This represents an increase of 2.5% from the prior year.

EBITDA

$584.6M

YoY+11.6%

10Y CAGR+4.2%

Equity Lifestyle Pptys Inc's EBITDA was $584.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.6% from the prior year.

Free Cash Flow

N/A

Net Income

$384.8M

YoY+16.7%

5Y CAGR+5.4%

10Y CAGR+10.8%

Equity Lifestyle Pptys Inc reported $384.8M in net income in fiscal year 2024. This represents an increase of 16.7% from the prior year.

EPS (Diluted)

$1.96

YoY+16.0%

5Y CAGR+4.9%

10Y CAGR+3.3%

Equity Lifestyle Pptys Inc earned $1.96 per diluted share (EPS) in fiscal year 2024. This represents an increase of 16.0% from the prior year.

Cash & Debt

$24.6M

YoY-17.9%

5Y CAGR-3.2%

10Y CAGR-10.4%

Equity Lifestyle Pptys Inc held $24.6M in cash against $3.2B in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.91

Equity Lifestyle Pptys Inc paid $1.91 per share in dividends in fiscal year 2024.

Shares Outstanding

191M

YoY+2.5%

5Y CAGR+1.0%

10Y CAGR+8.6%

Equity Lifestyle Pptys Inc had 191M shares outstanding in fiscal year 2024. This represents an increase of 2.5% from the prior year.

Gross Margin

N/A

Operating Margin

24.9%

YoY+3.5pp

10Y CAGR-10.1pp

Equity Lifestyle Pptys Inc's operating margin was 24.9% in fiscal year 2024, reflecting core business profitability. This is up 3.5 percentage points from the prior year.

Net Margin

25.2%

YoY+3.1pp

5Y CAGR-3.3pp

10Y CAGR+7.4pp

Equity Lifestyle Pptys Inc's net profit margin was 25.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 3.1 percentage points from the prior year.

Return on Equity

22.1%

YoY-1.0pp

5Y CAGR-1.6pp

10Y CAGR+6.9pp

Equity Lifestyle Pptys Inc's ROE was 22.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

ELS Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.5B+2.5%	$1.5B+2.9%	$1.4B+9.9%	$1.3B+17.7%	$1.1B+7.9%	$1.0B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$38.5M-18.6%	$47.3M+5.4%	$44.9M+13.3%	$39.6M+0.8%	$39.3M+10.1%	$35.7M
Operating Income	$380.7M+18.9%	$320.1M+8.3%	$295.5M+8.6%	$272.2M	N/A	N/A
Interest Expense	$137.7M+4.1%	$132.3M+13.5%	$116.6M+7.2%	$108.7M+5.8%	$102.8M-1.4%	$104.2M
Income Tax	-$354K+96.6%	-$10.5M	$0	$0	N/A	N/A
Net Income	$384.8M+16.7%	$329.7M+10.3%	$298.8M+8.3%	$276.0M+14.3%	$241.4M-18.4%	$295.9M
EPS (Diluted)	$1.96+16.0%	$1.69+10.5%	$1.53+7.0%	$1.43+14.4%	$1.25-18.8%	$1.54

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$393.3M+4.4%	$376.9M-2.7%	$387.3M+4.0%	$372.3M-2.0%	$380.0M-1.7%	$386.6M+7.2%	$360.6M-7.2%	$388.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$8.8M-15.9%	$10.5M+13.2%	$9.2M+12.2%	$8.2M-8.3%	$9.0M-25.1%	$12.0M+31.5%	$9.1M-7.9%	$9.9M
Operating Income	$98.6M+17.1%	$84.2M-23.1%	$109.5M+8.0%	$101.4M+24.3%	$81.5M-29.1%	$115.0M+34.7%	$85.4M+5.4%	$81.0M
Interest Expense	$33.7M+4.5%	$32.2M+3.4%	$31.1M-1.6%	$31.6M-12.2%	$36.0M+7.4%	$33.5M+1.0%	$33.2M-0.7%	$33.4M
Income Tax	N/A	N/A	N/A	-$115K	$0+100.0%	-$239K+97.7%	-$10.5M	$0
Net Income	$100.4M+20.2%	$83.5M-27.0%	$114.4M+13.8%	$100.6M+22.4%	$82.1M-28.8%	$115.3M+19.5%	$96.4M+19.4%	$80.7M
EPS (Diluted)	$0.50+19.0%	$0.42-26.3%	$0.57+11.8%	$0.51+21.4%	$0.42-28.8%	$0.59+18.0%	$0.50+22.0%	$0.41

ELS Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$5.6B+0.6%	$5.6B+2.2%	$5.5B+3.5%	$5.3B+20.1%	$4.4B+6.4%	$4.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$24.6M-17.9%	$29.9M+34.0%	$22.3M-81.9%	$123.4M+412.9%	$24.1M-16.6%	$28.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$17.6M0.0%	$17.6M0.0%	$17.6M+1.1%	$17.4M+123.1%	$7.8M0.0%	$7.8M
Total Liabilities	$3.8B-7.1%	$4.1B+3.5%	$4.0B+4.0%	$3.8B+22.7%	$3.1B+10.1%	$2.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.2B-8.9%	$3.5B+3.9%	$3.4B+3.5%	$3.3B+33.9%	$2.4B+8.7%	$2.2B
Total Equity	$1.7B+21.8%	$1.4B-1.2%	$1.4B+2.1%	$1.4B+14.7%	$1.2B-1.3%	$1.2B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$5.7B+0.5%	$5.7B+1.4%	$5.6B-0.1%	$5.6B0.0%	$5.6B+0.3%	$5.6B+0.3%	$5.6B-0.2%	$5.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$39.3M+19.0%	$33.0M-30.5%	$47.5M+93.2%	$24.6M-31.1%	$35.7M-24.6%	$47.3M+57.9%	$29.9M-49.8%	$59.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	$17.6M	N/A	N/A	$17.6M	N/A
Total Liabilities	$3.9B+0.7%	$3.9B+2.6%	$3.8B-0.3%	$3.8B-7.6%	$4.1B+0.6%	$4.1B-0.1%	$4.1B-0.3%	$4.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	$3.2B	N/A	N/A	$3.5B	N/A
Total Equity	$1.8B+1.3%	$1.7B-1.1%	$1.7B+0.5%	$1.7B+20.9%	$1.4B-0.6%	$1.4B+1.4%	$1.4B+0.1%	$1.4B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ELS Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$596.7M+8.9%	$548.0M+15.2%	$475.8M-6.5%	$509.0M+21.9%	$417.4M-5.9%	$443.5M
Capital Expenditures	N/A	N/A	$132.8M-66.6%	$398.0M+90.2%	$209.2M+258.8%	$58.3M
Free Cash Flow	N/A	N/A	$343.0M+208.9%	$111.0M-46.7%	$208.2M-45.9%	$385.2M
Investing Cash Flow	-$217.8M+32.9%	-$324.8M+19.2%	-$402.1M+51.5%	-$828.4M-106.5%	-$401.3M-14.0%	-$352.1M
Financing Cash Flow	-$384.2M-78.2%	-$215.7M-23.4%	-$174.8M-141.7%	$418.7M+2098.0%	-$21.0M+84.1%	-$131.5M
Dividends Paid	$350.6M+7.4%	$326.4M+10.2%	$296.1M+13.1%	$261.7M+7.7%	$242.9M+12.4%	$216.1M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$147.0M+12.0%	$131.3M-32.1%	$193.4M+83.6%	$105.3M-26.4%	$143.1M-28.0%	$198.7M+53.7%	$129.3M-14.8%	$151.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$66.8M+41.6%	-$114.6M-170.7%	-$42.3M+35.8%	-$65.9M-23.7%	-$53.3M-3.9%	-$51.3M+41.2%	-$87.2M-4.0%	-$83.9M
Financing Cash Flow	-$73.9M-136.8%	-$31.2M+75.7%	-$128.2M-132.2%	-$55.2M+45.6%	-$101.4M+22.0%	-$130.1M-81.1%	-$71.9M-97.7%	-$36.3M
Dividends Paid	$103.1M0.0%	$103.1M+13.1%	$91.2M+2.4%	$89.1M-4.7%	$93.4M+12.0%	$83.4M0.0%	$83.4M-4.7%	$87.5M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ELS Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	24.9%+3.5pp	21.5%+1.1pp	20.4%-0.3pp	20.7%	N/A	N/A
Net Margin	25.2%+3.1pp	22.1%+1.5pp	20.6%-0.3pp	21.0%-0.6pp	21.6%-7.0pp	28.5%
Return on Equity	22.1%-1.0pp	23.1%+2.4pp	20.7%+1.2pp	19.5%-0.1pp	19.6%-4.1pp	23.7%
Return on Assets	6.8%+0.9pp	5.9%+0.4pp	5.4%+0.2pp	5.2%-0.3pp	5.5%-1.7pp	7.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.84-0.6	2.46+0.1	2.34+0.0	2.31+0.3	1.98+0.2	1.80
FCF Margin	N/A	N/A	23.7%+15.3pp	8.4%-10.2pp	18.6%-18.5pp	37.1%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	25.1%+2.7pp	22.4%-5.9pp	28.3%+1.1pp	27.2%+5.8pp	21.5%-8.3pp	29.8%+6.1pp	23.7%+2.8pp	20.8%
Net Margin	25.5%+3.4pp	22.1%-7.4pp	29.5%+2.5pp	27.0%+5.4pp	21.6%-8.2pp	29.8%+3.1pp	26.7%+6.0pp	20.8%
Return on Equity	5.7%+0.9pp	4.8%-1.7pp	6.5%+0.8pp	5.8%+0.1pp	5.7%-2.3pp	8.0%+1.2pp	6.8%+1.1pp	5.7%
Return on Assets	1.8%+0.3pp	1.5%-0.6pp	2.0%+0.2pp	1.8%+0.3pp	1.5%-0.6pp	2.1%+0.3pp	1.7%+0.3pp	1.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.24-0.0	2.26+0.1	2.18+0.3	1.84-1.0	2.87+0.0	2.84+0.4	2.46-0.4	2.89
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Equity Lifestyle Pptys Inc's annual revenue?

Equity Lifestyle Pptys Inc (ELS) reported $1.5B in total revenue for fiscal year 2024. This represents a 2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Equity Lifestyle Pptys Inc's revenue growing?

Equity Lifestyle Pptys Inc (ELS) revenue grew by 2.5% year-over-year, from $1.5B to $1.5B in fiscal year 2024.

Is Equity Lifestyle Pptys Inc profitable?

Yes, Equity Lifestyle Pptys Inc (ELS) reported a net income of $384.8M in fiscal year 2024, with a net profit margin of 25.2%.

What is Equity Lifestyle Pptys Inc's earnings per share (EPS)?

Equity Lifestyle Pptys Inc (ELS) reported diluted earnings per share of $1.96 for fiscal year 2024. This represents a 16.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Equity Lifestyle Pptys Inc's EBITDA?

Equity Lifestyle Pptys Inc (ELS) had EBITDA of $584.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Equity Lifestyle Pptys Inc have?

As of fiscal year 2024, Equity Lifestyle Pptys Inc (ELS) had $24.6M in cash and equivalents against $3.2B in long-term debt.

What is Equity Lifestyle Pptys Inc's operating margin?

Equity Lifestyle Pptys Inc (ELS) had an operating margin of 24.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Equity Lifestyle Pptys Inc's net profit margin?

Equity Lifestyle Pptys Inc (ELS) had a net profit margin of 25.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Equity Lifestyle Pptys Inc pay dividends?

Yes, Equity Lifestyle Pptys Inc (ELS) paid $1.91 per share in dividends during fiscal year 2024.

What is Equity Lifestyle Pptys Inc's return on equity (ROE)?

Equity Lifestyle Pptys Inc (ELS) has a return on equity of 22.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Equity Lifestyle Pptys Inc's operating cash flow?

Equity Lifestyle Pptys Inc (ELS) generated $596.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Equity Lifestyle Pptys Inc's total assets?

Equity Lifestyle Pptys Inc (ELS) had $5.6B in total assets as of fiscal year 2024, including both current and long-term assets.

How many shares does Equity Lifestyle Pptys Inc have outstanding?

Equity Lifestyle Pptys Inc (ELS) had 191M shares outstanding as of fiscal year 2024.

What is Equity Lifestyle Pptys Inc's debt-to-equity ratio?

Equity Lifestyle Pptys Inc (ELS) had a debt-to-equity ratio of 1.84 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Equity Lifestyle Pptys Inc's return on assets (ROA)?

Equity Lifestyle Pptys Inc (ELS) had a return on assets of 6.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Equity Lifestyle Pptys Inc's Piotroski F-Score?

Equity Lifestyle Pptys Inc (ELS) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Equity Lifestyle Pptys Inc's earnings high quality?

Equity Lifestyle Pptys Inc (ELS) has an earnings quality ratio of 1.55x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Equity Lifestyle Pptys Inc cover its interest payments?

Equity Lifestyle Pptys Inc (ELS) has an interest coverage ratio of 2.8x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Equity Lifestyle Pptys Inc?

Equity Lifestyle Pptys Inc (ELS) scores 67 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.