What is Equity Lifestyle Properties, Inc.'s earnings per share (EPS)?

Equity Lifestyle Properties, Inc. (ELS) reported diluted earnings per share of $2.01 for fiscal year 2025. This represents a 2.6% 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.

Equity Lifestyle Properties, Inc. (ELS) Financials

ELS

Trailing 12 months to March 31, 2026

Revenue $1.5B +1.0% YoY

Net Income $399.2M +4.0% YoY

EPS (Diluted) $2.00 +3.1% YoY

Operating Cash Flow $572.0M -3.3% YoY

Market Cap $11.4B as of Oct 14, 2026

Price / Sales 7.4x on $1.5B revenue, trailing 12 months to March 31, 2026

Price / Earnings 28.7x on $399.2M net income, trailing 12 months to March 31, 2026

Price / Book 6.5x on $1.8B equity, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported Apr 28, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed Apr 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ELS SEC filings page.

Equity Lifestyle Properties, Inc. (ELS) reported $1.5B in revenue over the twelve months to Mar 31, 2026, up 1.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI ELS FY2025 2026-10-03

Profitability improved despite nearly flat revenue, but rising leverage and distributions leave less internally retained capital.

The key shift is earnings quality: FY2025 net income rose to $402M while operating cash flow fell to $571.1M from $596.7M in FY2024, so reported profit improved without a matching cash increase. That divergence suggests more of the latest earnings improvement did not arrive as operating cash during the year.

Revenue was essentially flat in FY2025, while operating margin widened from 24.9% to 25.6%; the improvement therefore reflects better profit capture from the existing business rather than growth-led expansion. ROA reached 7.0%, indicating that the larger asset base produced modestly better returns.

Debt-to-equity moved from 1.8x in FY2024 to 1.9x in FY2025 even as equity increased, so borrowing remains a meaningful part of the financing structure. The FY2025 dividend was $388M, close to $402M of net income, leaving little of that year's accounting profit retained for reinvestment.

Financial Health Signals

Financial Health Score 60/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Equity Lifestyle Properties, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Equity Lifestyle Properties, Inc. scores 63/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Equity Lifestyle Properties, Inc. scores 55/100 on it among other REITs.

Leverage

Equity Lifestyle Properties, Inc.'s net debt of $3.3B, being $3.3B of long-term debt less $26.1M of cash, came to 5.53 times its EBITDA in fiscal year 2025. REITs are ranked here on that debt against their EBITDA, where a lower multiple is the safer one, and Equity Lifestyle Properties, Inc. scores 45/100 among other REITs.

Interest Cov.

Equity Lifestyle Properties, Inc.'s operating income of $391.3M covered its interest expense of $131.0M 2.99 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Equity Lifestyle Properties, Inc. scores 70/100 among other REITs.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Equity Lifestyle Properties, Inc. scores 67/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Equity Lifestyle Properties, Inc. scores 58/100 on it among other REITs.

Piotroski F-Score Partial

4/7

Equity Lifestyle Properties, Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.42x

For every $1 of reported earnings, Equity Lifestyle Properties, Inc. generates $1.42 in operating cash flow ($571.1M OCF vs $402.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.99x

Equity Lifestyle Properties, Inc. earns $2.99 in operating income for every $1 of interest expense ($391.3M vs $131.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$397.6M

YoY+2.7%

QoQ+6.4%

5Y CAGR+5.5%

10Y CAGR+6.1%

Equity Lifestyle Properties, Inc. generated $397.6M in revenue in Q1 2026. This represents an increase of 2.7% from the same quarter a year earlier. Against the prior quarter it is up 6.4%.

EBITDA

$165.5M

YoY+3.2%

QoQ+8.9%

Equity Lifestyle Properties, Inc.'s EBITDA was $165.5M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.2% from the same quarter a year earlier. Against the prior quarter it is up 8.9%.

Net Income

$111.5M

YoY-2.5%

QoQ+7.4%

5Y CAGR+10.1%

10Y CAGR+8.2%

Equity Lifestyle Properties, Inc. reported $111.5M in net income in Q1 2026. This represents a decrease of 2.5% from the same quarter a year earlier. Against the prior quarter it is up 7.4%.

EPS (Diluted)

$0.56

YoY-1.8%

QoQ+7.7%

5Y CAGR+9.2%

10Y CAGR-0.7%

Equity Lifestyle Properties, Inc. earned $0.56 per diluted share (EPS) in Q1 2026. This represents a decrease of 1.8% from the same quarter a year earlier. Against the prior quarter it is up 7.7%.

Cash & Balance Sheet

Cash & Debt

$39.2M

YoY-17.4%

QoQ+50.1%

5Y CAGR-15.6%

10Y CAGR-8.7%

Equity Lifestyle Properties, Inc. held $39.2M in cash as of Q1 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.54

YoY+5.3%

QoQ+5.3%

Equity Lifestyle Properties, Inc. paid $0.54 per share in dividends in Q1 2026. This represents an increase of 5.3% from the same quarter a year earlier. Against the prior quarter it is up 5.3%.

Shares Outstanding

194M

YoY+1.4%

QoQ0.0%

5Y CAGR+1.2%

10Y CAGR+8.7%

Equity Lifestyle Properties, Inc. had 194M shares outstanding in Q1 2026. This represents an increase of 1.4% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q1 2026.

Margins & Returns

Operating Margin

28.3%

YoY0.0pp

QoQ+1.8pp

Equity Lifestyle Properties, Inc.'s operating margin was 28.3% in Q1 2026, reflecting core business profitability. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 1.8 percentage points.

Net Margin

28.0%

YoY-1.5pp

QoQ+0.3pp

5Y change+5.3pp

10Y change+5.1pp

Equity Lifestyle Properties, Inc.'s net profit margin was 28.0% in Q1 2026, showing the share of revenue converted to profit. This is down 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.

Return on Equity

6.3%

YoY-0.2pp

QoQ+0.4pp

5Y change+0.7pp

10Y change+1.0pp

Equity Lifestyle Properties, Inc.'s ROE was 6.3% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Gross Margin

Not reported for Q1 2026.

Capital Allocation

None of these metrics is reported for Q1 2026.

ELS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ELS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.5B	$1.5B+0.3%	$1.5B+2.5%	$1.5B+2.9%	$1.4B+9.9%	$1.3B+17.7%	$1.1B+7.9%	$1.0B+5.1%	$986.7M+6.6%	$925.3M+6.3%	$870.4M+5.9%	$821.7M+5.8%	$776.8M+6.6%	$729.0M+6.5%	$684.3M+18.6%	$577.0M
SG&A Expenses	$39.4M	$37.5M-2.5%	$38.5M-18.6%	$47.3M+5.4%	$44.9M+13.3%	$39.6M+0.8%	$39.3M+10.1%	$35.7M-5.3%	$37.7M+18.7%	$31.7M+2.4%	$31.0M+1.2%	$30.6M+11.8%	$27.4M-2.8%	$28.2M+6.9%	$26.4M-37.2%	$42.0M
Operating Income	$394.2M	$391.3M+2.8%	$380.7M+18.9%	$320.1M+8.3%	$295.5M+8.6%	$272.2M	N/A	N/A	$355.6M+5.6%	$336.7M+6.8%	$315.2M+6.8%	$295.2M+8.5%	$272.2M+6.9%	$254.6M+23.3%	$206.4M+16.7%	$176.9M
EBITDA	N/A	$600.2M+2.7%	$584.6M+11.6%	$523.8M+5.2%	$497.8M+8.1%	$460.6M	N/A	N/A	$492.8M+7.0%	$460.4M+5.3%	$437.1M+6.0%	$412.3M+6.2%	$388.1M+5.7%	$367.0M+2.8%	$357.1M+22.9%	$290.6M
Interest Expense	$133.5M	$131.0M-4.9%	$137.7M+4.1%	$132.3M+13.5%	$116.6M+7.2%	$108.7M+5.8%	$102.8M-1.4%	$104.2M-0.7%	$105.0M+4.4%	$100.6M-1.4%	$102.0M-3.5%	$105.7M-5.8%	$112.3M-5.3%	$118.5M-4.4%	$124.0M+24.6%	$99.5M
Income Tax	N/A	-$3.3M-824.6%	-$354K+96.6%	-$10.5M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$399.2M	$402.1M+4.5%	$384.8M+16.7%	$329.7M+10.3%	$298.8M+8.3%	$276.0M+14.3%	$241.4M-18.4%	$295.9M+30.7%	$226.4M+7.6%	$210.4M+12.4%	$187.1M+24.3%	$150.5M+8.7%	$138.5M+10.0%	$125.9M+110.4%	$59.8M+127.2%	$26.3M
EPS (Basic)	N/A	$2.01+2.6%	$1.96+16.0%	$1.69+10.5%	$1.53+7.0%	$1.43+13.5%	$1.26-18.2%	$1.54+29.4%	$1.19+9.2%	$1.09-43.5%	$1.93+24.5%	$1.55+9.2%	$1.42+10.1%	$1.29+92.5%	$0.67+109.4%	$0.32
EPS (Diluted)	$2.00	$2.01+2.6%	$1.96+16.0%	$1.69+10.5%	$1.53+7.0%	$1.43+14.4%	$1.25-18.8%	$1.54	$1.19+10.2%	$1.08	$1.92+24.7%	$1.54+9.2%	$1.41+10.2%	$1.28	$0.66+106.3%	$0.32
Diluted Shares (Avg)	N/A	200M+1.8%	197M+0.6%	195M+0.1%	195M+1.2%	193M+0.2%	193M+0.3%	192M	190M+1.7%	187M	93M+0.7%	92M+0.4%	92M+0.3%	91M	91M+12.6%	81M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$397.6M+2.7%	$373.9M+0.4%	$393.3M+1.6%	$376.9M-0.8%	$387.3M+0.2%	$372.3M+3.2%	$387.3M-0.4%	$380.0M+2.7%
SG&A Expenses	$11.1M+20.2%	$9.0M+9.6%	$8.8M-5.2%	$10.5M+16.4%	$9.2M-22.9%	$8.2M-9.7%	$9.3M-6.3%	$9.0M-45.9%
Operating Income	$112.4M+2.6%	$99.0M-2.3%	$98.6M+19.1%	$84.2M+3.3%	$109.5M-4.8%	$101.4M+18.7%	$82.8M+2.2%	$81.5M+25.3%
EBITDA	$165.5M+3.2%	$152.0M+0.1%	$150.9M+12.9%	$136.9M+3.0%	$160.4M-3.4%	$151.9M+11.5%	$133.7M+1.3%	$132.9M+14.0%
Interest Expense	$33.6M+8.1%	$34.0M+7.5%	$33.7M-7.8%	$32.2M-10.6%	$31.1M-7.2%	$31.6M-4.7%	$36.5M+9.2%	$36.0M+8.8%
Income Tax	N/A	N/A	N/A	N/A	N/A	-$115K+98.9%	$0	$0
Net Income	$111.5M-2.5%	$103.8M+3.2%	$100.4M+15.5%	$83.5M+1.7%	$114.4M-0.8%	$100.6M+4.3%	$86.9M+7.6%	$82.1M+24.3%
EPS (Basic)	$0.56-1.8%	$0.52+2.0%	$0.50+13.6%	$0.420.0%	$0.57-3.4%	$0.51+2.0%	$0.44+7.3%	$0.42+23.5%
EPS (Diluted)	$0.56-1.8%	$0.52+2.0%	$0.50+13.6%	$0.420.0%	$0.57-3.4%	$0.51+2.0%	$0.44+7.3%	$0.42+23.5%
Diluted Shares (Avg)	200M+0.1%	N/A	200M+2.4%	200M+2.4%	200M+2.3%	N/A	196M0.0%	195M0.0%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

ELS Balance Sheet

ELS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$5.7B+1.8%	$5.6B+0.6%	$5.6B+2.2%	$5.5B+3.5%	$5.3B+20.1%	$4.4B+6.4%	$4.2B+5.7%	$3.9B+8.7%	$3.6B+3.8%	$3.5B+2.3%	$3.4B-0.8%	$3.4B+1.1%	$3.4B-0.2%	$3.4B-2.8%	$3.5B
Cash & Equivalents	$26.1M+6.3%	$24.6M-17.9%	$29.9M+34.0%	$22.3M-81.9%	$123.4M+412.9%	$24.1M-16.6%	$28.9M-58.2%	$69.0M+93.6%	$35.6M-42.3%	$61.8M-28.5%	$86.5M+17.3%	$73.7M+26.2%	$58.4M+57.3%	$37.1M-47.3%	$70.5M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.0M-9.4%	$1.2M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$17.6M0.0%	$17.6M0.0%	$17.6M0.0%	$17.6M+1.1%	$17.4M+123.1%	$7.8M0.0%	$7.8M0.0%	$7.8M0.0%	$7.8M0.0%	$7.8M0.0%	$7.8M0.0%	$7.8M0.0%	$7.8M0.0%	$7.8M0.0%	$7.8M
Total Liabilities	$3.9B+2.8%	$3.8B-7.1%	$4.1B+3.5%	$4.0B+4.0%	$3.8B+22.7%	$3.1B+10.1%	$2.8B+3.5%	$2.7B+8.9%	$2.5B+4.7%	$2.4B-0.4%	$2.4B-2.4%	$2.5B+1.6%	$2.4B-1.8%	$2.5B-0.9%	$2.5B
Long-Term Debt	$3.3B+4.4%	$3.2B-8.9%	$3.5B+3.9%	$3.4B+3.5%	$3.3B+33.9%	$2.4B+8.7%	$2.2B-4.7%	$2.4B+7.3%	$2.2B+5.2%	$2.1B-2.5%	$2.1B-3.0%	$2.2B+0.9%	$2.2B-3.4%	$2.3B-0.6%	$2.3B
Total Equity	$1.8B+0.9%	$1.7B+21.8%	$1.4B-1.2%	$1.4B+2.1%	$1.4B+14.7%	$1.2B-1.3%	$1.2B+11.4%	$1.1B+8.7%	$1.0B+2.3%	$1.0B+9.0%	$925.1M+1.4%	$912.0M+2.1%	$893.3M+4.0%	$859.2M+18.3%	$726.3M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$5.7B+1.9%	$5.7B+1.8%	$5.7B+1.8%	$5.7B+1.3%	$5.6B+0.2%	$5.6B+0.6%	$5.6B+0.3%	$5.6B+1.1%
Cash & Equivalents	$39.2M-17.4%	$26.1M+6.3%	$39.3M-2.7%	$33.0M-7.4%	$47.5M+0.4%	$24.6M-17.9%	$40.4M-32.3%	$35.7M+26.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	$17.6M0.0%	N/A	N/A	N/A	$17.6M0.0%	N/A	N/A
Total Liabilities	$3.9B+3.1%	$3.9B+2.8%	$3.9B-5.1%	$3.9B-5.5%	$3.8B-7.3%	$3.8B-7.1%	$4.1B+0.5%	$4.1B+1.3%
Long-Term Debt	N/A	$3.3B+4.4%	N/A	N/A	N/A	$3.2B-8.9%	N/A	N/A
Total Equity	$1.8B+0.7%	$1.8B+0.9%	$1.8B+23.0%	$1.7B+20.2%	$1.7B+20.8%	$1.7B+21.8%	$1.4B-0.1%	$1.4B+0.6%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities, Retained Earnings.

ELS Cash Flow Statement

ELS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$572.0M	$571.1M-4.3%	$596.7M+8.9%	$548.0M+15.2%	$475.8M-6.5%	$509.0M+21.9%	$417.4M-5.9%	$443.5M+7.1%	$414.1M+9.5%	$378.0M+7.3%	$352.4M-0.1%	$352.9M+23.5%	$285.7M+11.9%	$255.3M+8.0%	$236.4M+34.6%	$175.6M
Depreciation & Amortization	N/A	$208.9M+2.5%	$203.9M+0.1%	$203.7M+0.7%	$202.4M+7.4%	$188.4M+21.5%	$155.1M+2.0%	$152.1M+10.9%	$137.2M+10.9%	$123.7M+1.5%	$121.9M+4.1%	$117.1M+1.0%	$115.9M+3.0%	$112.4M-25.4%	$150.7M+32.5%	$113.7M
Stock-Based Compensation	N/A	$7.3M-22.6%	$9.4M-47.4%	$17.8M+103.6%	$8.8M-31.0%	$12.7M+10.1%	$11.5M+10.0%	$10.5M+4.9%	$10.0M+6.9%	$9.4M+1.9%	$9.2M+7.0%	$8.6M+13.4%	$7.6M+27.2%	$6.0M+2.7%	$5.8M+0.6%	$5.8M
Capital Expenditures	N/A	N/A	N/A	N/A	$132.8M-66.6%	$398.0M+90.2%	$209.2M+258.8%	$58.3M-76.8%	$251.7M+76.8%	$142.4M	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	$343.0M+208.9%	$111.0M-46.7%	$208.2M-45.9%	$385.2M+137.2%	$162.4M-31.1%	$235.6M	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$279.1M	-$277.1M-27.2%	-$217.8M+32.9%	-$324.8M+19.2%	-$402.1M+51.5%	-$828.4M-106.5%	-$401.3M-14.0%	-$352.1M+11.5%	-$398.1M-30.4%	-$305.4M-39.7%	-$218.6M-81.1%	-$120.7M+5.6%	-$127.9M-237.8%	-$37.9M+56.3%	-$86.6M+87.7%	-$701.8M
Financing Cash Flow	-$301.2M	-$292.5M+23.9%	-$384.2M-78.2%	-$215.7M-23.4%	-$174.8M-141.7%	$418.7M+2098.0%	-$21.0M+84.1%	-$131.5M-859.3%	$17.3M+117.5%	-$98.8M+37.6%	-$158.4M+29.8%	-$225.6M-58.3%	-$142.6M+27.3%	-$196.2M-7.1%	-$183.2M-131.4%	$584.0M
Dividends Paid	$405.9M	$388.0M+10.7%	$350.6M+7.4%	$326.4M+10.2%	$296.1M+13.1%	$261.7M+7.7%	$242.9M+12.4%	$216.1M+13.6%	$190.2M+16.1%	$163.8M+16.9%	$140.1M+14.7%	$122.1M+19.3%	$102.3M+63.6%	$62.5M-30.1%	$89.5M+80.8%	$49.5M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$229K+269.4%	$62K	$0-100.0%	$1.1M-12.9%	$1.3M-23.5%	$1.7M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	$194.2M+0.4%	$99.5M-5.6%	$147.0M-1.7%	$131.3M-8.3%	$193.4M-2.7%	$105.3M-18.6%	$149.5M-1.5%	$143.1M+32.7%
Depreciation & Amortization	$53.1M+4.3%	$53.0M+4.9%	$52.3M+2.7%	$52.6M+2.5%	$50.9M-0.3%	$50.5M-0.6%	$50.9M-0.1%	$51.3M-0.2%
Stock-Based Compensation	$2.1M-8.0%	N/A	$1.8M+20.0%	$1.8M0.0%	$2.3M-6.5%	N/A	$1.5M-16.7%	$1.8M-79.1%
Investing Cash Flow	-$44.3M-4.7%	-$53.4M+19.1%	-$66.8M-41.3%	-$114.6M-114.9%	-$42.3M+17.5%	-$65.9M+24.4%	-$47.3M+43.6%	-$53.3M+38.8%
Financing Cash Flow	-$136.8M-6.8%	-$59.3M-7.3%	-$73.9M+24.2%	-$31.2M+69.2%	-$128.2M+1.5%	-$55.2M+23.2%	-$97.5M-168.2%	-$101.4M-336.5%
Dividends Paid	$99.8M+9.4%	$99.8M+12.1%	$103.1M+10.4%	$103.1M+10.4%	$91.2M+9.4%	$89.1M+6.8%	$93.4M+6.8%	$93.4M+6.8%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

ELS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ELS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	25.6%+0.6pp	24.9%+3.5pp	21.5%+1.1pp	20.4%-0.3pp	20.7%	N/A	N/A	36.0%-0.4pp	36.4%+0.2pp	36.2%+0.3pp	35.9%+0.9pp	35.0%+0.1pp	34.9%+4.7pp	30.2%-0.5pp	30.6%
Net Margin	26.3%+1.0pp	25.2%+3.1pp	22.1%+1.5pp	20.6%-0.3pp	21.0%-0.6pp	21.6%-7.0pp	28.5%+5.6pp	22.9%+0.2pp	22.7%+1.2pp	21.5%+3.2pp	18.3%+0.5pp	17.8%+0.6pp	17.3%+8.5pp	8.8%+4.2pp	4.6%
Return on Equity	22.9%+0.8pp	22.1%-1.0pp	23.1%+2.4pp	20.7%+1.2pp	19.5%-0.1pp	19.6%-4.1pp	23.7%+3.5pp	20.2%-0.2pp	20.4%+1.8pp	18.6%+2.3pp	16.3%+1.1pp	15.2%+1.1pp	14.1%+7.1pp	7.0%+3.3pp	3.6%
Return on Assets	7.0%+0.2pp	6.8%+0.9pp	5.9%+0.4pp	5.4%+0.2pp	5.2%-0.3pp	5.5%-1.7pp	7.1%+1.4pp	5.8%-0.1pp	5.8%+0.4pp	5.4%+1.0pp	4.4%+0.4pp	4.0%+0.3pp	3.7%+1.9pp	1.8%+1.0pp	0.8%
Debt-to-Equity	1.91+0.1x	1.84-0.6x	2.46+0.1x	2.340.0x	2.31+0.3x	1.98+0.2x	1.80-0.3x	2.100.0x	2.13+0.1x	2.07-0.2x	2.32-0.1x	2.430.0x	2.45-0.2x	2.64-0.5x	3.15
Asset Turnover	0.270.0x	0.270.0x	0.270.0x	0.260.0x	0.250.0x	0.250.0x	0.250.0x	0.250.0x	0.260.0x	0.250.0x	0.240.0x	0.230.0x	0.210.0x	0.200.0x	0.17
FCF Margin	N/A	N/A	N/A	23.7%+15.3pp	8.4%-10.2pp	18.6%-18.5pp	37.1%+20.7pp	16.5%-9.0pp	25.5%	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Margin	28.3%0.0pp	26.5%-0.7pp	25.1%+3.7pp	22.4%+0.9pp	28.3%-1.5pp	27.2%+3.5pp	21.4%+0.5pp	21.5%+3.9pp
Net Margin	28.0%-1.5pp	27.8%+0.8pp	25.5%+3.1pp	22.1%+0.5pp	29.5%-0.3pp	27.0%+0.3pp	22.4%+1.7pp	21.6%+3.8pp
Return on Equity	6.3%-0.2pp	5.9%+0.1pp	5.7%-0.4pp	4.8%-0.9pp	6.5%-1.4pp	5.8%-1.0pp	6.1%+0.4pp	5.7%+1.1pp
Return on Assets	1.9%-0.1pp	1.8%0.0pp	1.8%+0.2pp	1.5%0.0pp	2.0%0.0pp	1.8%+0.1pp	1.5%+0.1pp	1.5%+0.3pp
Debt-to-Equity	2.23+0.1x	1.91+0.1x	2.24-0.7x	2.26-0.6x	2.18-0.7x	1.84-0.6x	2.910.0x	2.870.0x
Asset Turnover	0.070.0x	0.070.0x	0.070.0x	0.070.0x	0.070.0x	0.070.0x	0.070.0x	0.070.0x

Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Equity Lifestyle Properties, Inc. ELS	FY2025	$1.5B	$402.1M	26.3%	$11.4B	60/100
AMERICAN HOMES 4 RENT AMH	FY2025	N/A	$513.4M	N/A	$11.0B	—
Camden Property Trust CPT	FY2025	$13.0M	$384.5M	N/A	$11.3B	53/100
Mid-America Apartment Communities, Inc. MAA	FY2025	$2.2B	$446.9M	20.2%	$13.5B	41/100
Sun Communities, Inc SUI	FY2025	$2.3B	$1.4B	61.3%	$13.9B	42/100
UDR, Inc. UDR	FY2025	$1.7B	$377.7M	22.1%	$10.9B	68/100

Where Equity Lifestyle Properties, Inc. Ranks

Frequently Asked Questions

What is Equity Lifestyle Properties, Inc.'s annual revenue?

Equity Lifestyle Properties, Inc. (ELS) reported $1.5B in total revenue for fiscal year 2025. This represents a 0.3% 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 Properties, Inc.'s revenue growing?

Equity Lifestyle Properties, Inc. (ELS) revenue grew by 0.3% year-over-year, from $1.5B to $1.5B in fiscal year 2025.

Is Equity Lifestyle Properties, Inc. profitable?

Yes, Equity Lifestyle Properties, Inc. (ELS) reported a net income of $402.1M in fiscal year 2025, with a net profit margin of 26.3%.

What is Equity Lifestyle Properties, Inc.'s EBITDA?

Equity Lifestyle Properties, Inc. (ELS) had EBITDA of $600.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Equity Lifestyle Properties, Inc. have?

As of fiscal year 2025, Equity Lifestyle Properties, Inc. (ELS) had $26.1M in cash and equivalents against $3.3B in long-term debt.

What is Equity Lifestyle Properties, Inc.'s operating margin?

Equity Lifestyle Properties, Inc. (ELS) had an operating margin of 25.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Equity Lifestyle Properties, Inc.'s net profit margin?

Equity Lifestyle Properties, Inc. (ELS) had a net profit margin of 26.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Equity Lifestyle Properties, Inc. pay dividends?

Yes, Equity Lifestyle Properties, Inc. (ELS) paid $2.06 per share in dividends during fiscal year 2025.

What is Equity Lifestyle Properties, Inc.'s return on equity (ROE)?

Equity Lifestyle Properties, Inc. (ELS) has a return on equity of 22.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Equity Lifestyle Properties, Inc.'s operating cash flow?

Equity Lifestyle Properties, Inc. (ELS) generated $571.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Equity Lifestyle Properties, Inc.'s total assets?

Equity Lifestyle Properties, Inc. (ELS) had $5.7B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Equity Lifestyle Properties, Inc. have outstanding?

Equity Lifestyle Properties, Inc. (ELS) had 194M shares outstanding as of fiscal year 2025.

What is Equity Lifestyle Properties, Inc.'s debt-to-equity ratio?

Equity Lifestyle Properties, Inc. (ELS) had a debt-to-equity ratio of 1.91 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Equity Lifestyle Properties, Inc.'s return on assets (ROA)?

Equity Lifestyle Properties, Inc. (ELS) had a return on assets of 7.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Equity Lifestyle Properties, Inc.'s P/E ratio?

Equity Lifestyle Properties, Inc. (ELS) trades at 28.7x earnings, its market capitalization divided by net income of $399.2M net income, trailing 12 months to March 31, 2026. The market capitalization is $11.4B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Equity Lifestyle Properties, Inc.'s price-to-sales ratio?

Equity Lifestyle Properties, Inc. (ELS) trades at 7.4x sales, its market capitalization divided by revenue of $1.5B revenue, trailing 12 months to March 31, 2026. The market capitalization is $11.4B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Equity Lifestyle Properties, Inc.'s Piotroski F-Score?

Equity Lifestyle Properties, Inc. (ELS) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Equity Lifestyle Properties, Inc.'s earnings high quality?

Equity Lifestyle Properties, Inc. (ELS) has an earnings quality ratio of 1.42x, 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 Properties, Inc. cover its interest payments?

Equity Lifestyle Properties, Inc. (ELS) has an interest coverage ratio of 2.99x, 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 Properties, Inc.?

Equity Lifestyle Properties, Inc. (ELS) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.