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Sun Communities Financials

SUI
FY2025 annual
Revenue $2.3B +2.0% YoY
Net Income $1.4B +1264.8% YoY
EPS (Diluted) $10.84 +1426.8% YoY
Free Cash Flow $407.2M -51.0% YoY
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

Sun Communities (SUI) reported $2.3B in revenue for fiscal year 2025, up 2.0% from the prior fiscal year. 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 SUI FY2025

FY2025 was shaped by balance-sheet reshaping, with investing inflows funding deleveraging and payouts more than organic revenue growth.

Net income rose from $103.6M to $1.41B, while operating cash flow barely moved. With operating cash flow still near $864.2M, investing cash flow swinging to a $4.93B inflow, and total assets notably lower, FY2025 looks less like a suddenly stronger operating franchise and more like profits being lifted by transactions within the asset base.

The core cash engine was more stable than the income statement suggests: revenue stayed near $2.3B and operating cash flow hovered around $800M over the last three years. That consistency makes the operating model look steadier than headline earnings imply, which is a useful clue for interpreting the later profit jump.

Cash available after reinvestment tightened because capex jumped to $457.0M from $30.2M, even though operating cash stayed firm. At the same time, interest expense fell to $221.0M from $350.3M, so part of the profit recovery came from a lighter financing burden rather than from faster top-line expansion or visibly better cash conversion.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Sun Communities does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
5/6

Sun Communities passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
0.61x

For every $1 of reported earnings, Sun Communities generates $0.61 in operating cash flow ($864.2M OCF vs $1.4B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.3B
YoY+2.0%
5Y CAGR+10.5%
10Y CAGR+13.1%

Sun Communities generated $2.3B in revenue in fiscal year 2025. This represents an increase of 2.0% from the prior year.

Net Income
$1.4B
YoY+1264.8%
5Y CAGR+60.8%
10Y CAGR+24.7%

Sun Communities reported $1.4B in net income in fiscal year 2025. This represents an increase of 1264.8% from the prior year.

EPS (Diluted)
$10.84
YoY+1426.8%
5Y CAGR+51.9%

Sun Communities earned $10.84 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1426.8% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
$407.2M
YoY-51.0%

Sun Communities generated $407.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 51.0% from the prior year.

Cash & Debt
$569.6M
YoY+1089.1%
5Y CAGR+49.1%
10Y CAGR+28.9%

Sun Communities held $569.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Dividends Per Share
$7.96
YoY+112.3%
5Y CAGR+20.6%

Sun Communities paid $7.96 per share in dividends in fiscal year 2025. This represents an increase of 112.3% from the prior year.

Shares Outstanding
124M
YoY-3.1%
5Y CAGR+2.8%

Sun Communities had 124M shares outstanding in fiscal year 2025. This represents a decrease of 3.1% from the prior year.

Margins & Returns

Net Margin
61.3%
YoY+56.7pp
5Y CAGR+51.9pp
10Y CAGR+38.3pp

Sun Communities's net profit margin was 61.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 56.7 percentage points from the prior year.

Return on Equity
20.3%
YoY+18.9pp
5Y CAGR+17.9pp
10Y CAGR+9.7pp

Sun Communities's ROE was 20.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 18.9 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks
$539.1M

Sun Communities spent $539.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$457.0M
YoY+1413.2%

Sun Communities invested $457.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1413.2% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

SUI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SUI annual income statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Revenue$2.3B$2.3B+2.0%$2.3B-1.0%$2.3B-23.1%$3.0B+30.7%$2.3B+62.5%$1.4B+10.6%$1.3B+12.2%$1.1B+14.7%$982.6M+17.8%$833.8M+23.6%$674.7M+39.3%$484.3M+14.6%$422.7M+24.7%$339.0M+17.2%$289.2M
Cost of RevenueN/AN/AN/AN/A$311.2M+51.2%$205.8M+39.9%$147.1M-1.3%$149.1M+20.9%$123.3M+29.7%$95.1M+18.3%$80.4MN/AN/AN/AN/AN/A
Gross ProfitN/AN/AN/AN/A$2.7B+28.6%$2.1B+65.2%$1.3B+12.2%$1.1B+11.1%$1.0B+13.1%$887.5M+17.8%$753.4MN/AN/AN/AN/AN/A
SG&A Expenses$249.2M$236.7M+2.7%$230.5M+8.0%$213.5M-17.1%$257.4M+42.0%$181.3M+65.6%$109.5M+18.0%$92.8M+13.9%$81.4M-3.0%$84.0M+31.9%$63.7M+34.2%$47.5M+26.9%$37.4M+4.3%$35.9M+26.5%$28.4M+1.8%$27.9M
Operating IncomeN/AN/AN/AN/AN/AN/AN/AN/AN/A$550.9M+18.0%$466.9M+21.4%$384.6M+44.0%$267.0M+15.6%$230.9M+23.9%$186.4M+16.6%$159.8M
Interest Expense$177.3M$221.0M-36.9%$350.3M+7.6%$325.7M+41.7%$229.8M+44.9%$158.6M+22.9%$129.1M-3.0%$133.2M+2.0%$130.6M+2.7%$127.1M+6.7%$119.2M+10.7%$107.7M+45.9%$73.8M+0.6%$73.3M+8.1%$67.9M-0.1%$67.9M
Income TaxN/A-$49.2M-36.7%-$36.0M-291.3%-$9.2M-250.8%$6.1M+369.2%$1.3M+262.5%-$800K-191.6%$873K+892.0%$88K+164.7%-$136K-148.1%$283K-71.7%$1.0M$0$0-100.0%$249K+66.0%$150K
Net Income$1.4B$1.4B+1264.8%$103.6M+150.1%-$206.9M-179.2%$261.4M-36.0%$408.3M+210.2%$131.6M-18.5%$161.6M+50.7%$107.2M+48.6%$72.2M+174.3%$26.3M-83.1%$155.4M+445.3%$28.5M+71.1%$16.7M+178.5%$6.0M+651.0%-$1.1M
EPS (Diluted)$10.84+1426.8%$0.71+141.3%-$1.72-186.0%$2.00-40.5%$3.36+150.7%$1.34-25.6%$1.80+39.5%$1.29$0.85+226.9%$0.26$2.52$0.54+74.2%$0.31$0.18-$0.05

Not reported in any period shown, so not listed: R&D Expenses.

TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

SUI Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SUI annual balance sheet
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Total Assets$12.5B-24.3%$16.5B-2.3%$16.9B-0.8%$17.1B+26.6%$13.5B+20.4%$11.2B+43.6%$7.8B+16.3%$6.7B+9.8%$6.1B+4.1%$5.9B+40.4%$4.2B+42.3%$2.9B+47.3%$2.0B+13.7%$1.8B+28.3%$1.4B
Cash & Equivalents$569.6M+1089.1%$47.9M+64.0%$29.2M-59.9%$72.8M+10.6%$65.8M-14.9%$77.3M+249.8%$22.1M-56.1%$50.3M+396.7%$10.1M+24.0%$8.2M-81.9%$45.1M-46.0%$83.5M+1655.9%$4.8M-83.9%$29.5M+403.8%$5.9M
Goodwill$9.5M0.0%$9.5M-98.7%$733.0M-28.0%$1.0B+105.6%$495.4M+15.5%$428.8M$0N/AN/AN/AN/AN/AN/AN/AN/A
Total Liabilities$5.2B-42.9%$9.1B-4.3%$9.5B+5.7%$9.0B+38.9%$6.5B+21.8%$5.3B+38.1%$3.8B+10.6%$3.5B+2.2%$3.4B-1.1%$3.4B+34.3%$2.6B+28.3%$2.0B+24.0%$1.6B+4.5%$1.5B+5.0%$1.5B
Long-Term DebtN/A$7.4B-5.5%$7.8B+8.0%$7.2B+126865.9%$5.7M-13.7%$6.6M+91.7%$3.4M-99.9%$3.1B+1.7%$3.1B-0.7%$3.1BN/AN/A$1.5B+2.7%$1.5B+3.9%$1.4B
Total Equity$7.0B-1.8%$7.1B0.0%$7.1B-9.3%$7.8B+17.9%$6.6B+19.9%$5.5B+44.7%$3.8B+22.9%$3.1B+19.6%$2.6B+13.2%$2.3B+57.7%$1.5B+65.8%$878.1M+138.4%$368.3M+91.3%$192.5M+252.1%-$126.6M

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

SUI Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SUI annual cash flow statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Operating Cash Flow$889.6M$864.2M+0.4%$861.0M+8.9%$790.5M+7.6%$734.9M-2.5%$753.6M+38.7%$543.3M+14.0%$476.7M+31.3%$363.1M+40.8%$258.0M+6.8%$241.5M+32.5%$182.3M+36.7%$133.3M+16.3%$114.7M+31.4%$87.3M+37.8%$63.3M
Capital ExpendituresN/A$457.0M+1413.2%$30.2M+325.4%$7.1MN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Free Cash FlowN/A$407.2M-51.0%$830.8M+6.1%$783.4MN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Investing Cash Flow$4.8B$4.9B+1942.1%-$267.4M+70.9%-$919.5M+70.0%-$3.1B-31.0%-$2.3B+6.0%-$2.5B-146.1%-$1.0B-37.7%-$733.7M-82.7%-$401.6M+75.1%-$1.6B-290.7%-$413.2M+25.0%-$550.7M-56.3%-$352.4M+6.1%-$375.2M-135.5%-$159.3M
Financing Cash Flow-$5.3B-$5.2B-813.1%-$571.6M-811.8%$80.3M-96.6%$2.3B+49.6%$1.6B-21.5%$2.0B+295.5%$505.9M+23.4%$409.9M+189.6%$141.6M-89.4%$1.3B+595.4%$192.5M-61.2%$496.1M+132.9%$213.0M-31.7%$311.6M+233.4%$93.5M
Dividends PaidN/AN/AN/AN/AN/A$11.2M-26.7%$15.3M+80.8%$8.5M+7.1%$7.9M+141.5%$3.3M-44.9%$5.9M-12.0%$6.7M-25.5%$9.1M+94.8%$4.6M-78.0%$21.1MN/A
Share Buybacks$599.2M$539.1M$0$0N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A

TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

SUI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

SUI annual financial ratios
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Gross MarginN/AN/AN/A89.5%-1.4pp90.9%+1.5pp89.5%+1.3pp88.2%-0.8pp89.0%-1.3pp90.3%0.0pp90.3%N/AN/AN/AN/AN/A
Operating MarginN/AN/AN/AN/AN/AN/AN/AN/A56.1%+0.1pp56.0%-1.0pp57.0%+1.9pp55.1%+0.5pp54.6%-0.4pp55.0%-0.3pp55.3%
Net Margin61.3%+56.7pp4.6%+13.6pp-9.1%-17.9pp8.8%-9.2pp18.0%+8.6pp9.4%-3.4pp12.8%+3.3pp9.5%+2.2pp7.3%+4.2pp3.2%-19.9pp23.0%+17.1pp5.9%+2.0pp3.9%+2.2pp1.8%+2.2pp-0.4%
Return on Equity20.3%+18.9pp1.5%+4.4pp-2.9%-6.3pp3.4%-2.8pp6.2%+3.8pp2.4%-1.8pp4.2%+0.8pp3.5%+0.7pp2.8%+1.6pp1.1%-9.5pp10.7%+7.4pp3.3%-1.3pp4.5%+1.4pp3.1%N/A
Return on Assets11.3%+10.7pp0.6%+1.9pp-1.2%-2.8pp1.5%-1.5pp3.0%+1.9pp1.2%-0.9pp2.1%+0.5pp1.6%+0.4pp1.2%+0.7pp0.4%-3.3pp3.7%+2.7pp1.0%+0.1pp0.8%+0.5pp0.3%+0.4pp-0.1%
Debt-to-Equity0.75-0.3x1.04-0.1x1.10+0.2x0.93+0.9x0.000.0x0.000.0x0.00-1.0x1.00-0.2x1.18-0.2x1.35-0.4x1.76-0.5x2.27-1.8x4.05-3.5x7.54N/A
FCF Margin17.7%-19.1pp36.8%+2.4pp34.3%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A

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

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Frequently Asked Questions

What is Sun Communities's annual revenue?

Sun Communities (SUI) reported $2.3B in total revenue for fiscal year 2025. This represents a 2.0% 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 Sun Communities's revenue growing?

Sun Communities (SUI) revenue grew by 2.0% year-over-year, from $2.3B to $2.3B in fiscal year 2025.

Is Sun Communities profitable?

Yes, Sun Communities (SUI) reported a net income of $1.4B in fiscal year 2025, with a net profit margin of 61.3%.

Sun Communities (SUI) reported diluted earnings per share of $10.84 for fiscal year 2025. This represents a 1426.8% 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.

Sun Communities (SUI) had a net profit margin of 61.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Sun Communities (SUI) paid $7.96 per share in dividends during fiscal year 2025.

Sun Communities (SUI) has a return on equity of 20.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Sun Communities (SUI) generated $407.2M in free cash flow during fiscal year 2025. This represents a -51.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Sun Communities (SUI) generated $864.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Sun Communities (SUI) had $12.5B in total assets as of fiscal year 2025, including both current and long-term assets.

Sun Communities (SUI) invested $457.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Sun Communities (SUI) spent $539.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Sun Communities (SUI) had 124M shares outstanding as of fiscal year 2025.

Sun Communities (SUI) had a debt-to-equity ratio of 0.75 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Sun Communities (SUI) had a return on assets of 11.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Sun Communities (SUI) has a Piotroski F-Score of 5 out of 6 computable signals; 3 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.

Sun Communities (SUI) has an earnings quality ratio of 0.61x, considered mixed 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.

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