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).
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
Cash available after reinvestment tightened because capex jumped to
Financial Health Signals
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.
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.
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
Earnings & Revenue
Sun Communities generated $2.3B in revenue in fiscal year 2025. This represents an increase of 2.0% from the prior year.
Sun Communities reported $1.4B in net income in fiscal year 2025. This represents an increase of 1264.8% from the prior year.
Sun Communities earned $10.84 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1426.8% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
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.
Sun Communities held $569.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Sun Communities paid $7.96 per share in dividends in fiscal year 2025. This represents an increase of 112.3% from the prior year.
Margins & Returns
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.
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.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Sun Communities spent $539.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
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.
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.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 Revenue | N/A | N/A | N/A | N/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% | $80.4M | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/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% | $753.4M | N/A | N/A | N/A | N/A | N/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 Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/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 Tax | N/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.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/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 Debt | N/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% | $3.1B | N/A | N/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.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 Expenditures | N/A | $457.0M+1413.2% | $30.2M+325.4% | $7.1M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | $407.2M-51.0% | $830.8M+6.1% | $783.4M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/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 Paid | N/A | N/A | N/A | N/A | N/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% | $21.1M | N/A |
| Share Buybacks | $599.2M | $539.1M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/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.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | 89.5%-1.4pp | 90.9%+1.5pp | 89.5%+1.3pp | 88.2%-0.8pp | 89.0%-1.3pp | 90.3%0.0pp | 90.3% | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 56.1%+0.1pp | 56.0%-1.0pp | 57.0%+1.9pp | 55.1%+0.5pp | 54.6%-0.4pp | 55.0%-0.3pp | 55.3% |
| Net Margin | 61.3%+56.7pp | 4.6%+13.6pp | -9.1%-17.9pp | 8.8%-9.2pp | 18.0%+8.6pp | 9.4%-3.4pp | 12.8%+3.3pp | 9.5%+2.2pp | 7.3%+4.2pp | 3.2%-19.9pp | 23.0%+17.1pp | 5.9%+2.0pp | 3.9%+2.2pp | 1.8%+2.2pp | -0.4% |
| Return on Equity | 20.3%+18.9pp | 1.5%+4.4pp | -2.9%-6.3pp | 3.4%-2.8pp | 6.2%+3.8pp | 2.4%-1.8pp | 4.2%+0.8pp | 3.5%+0.7pp | 2.8%+1.6pp | 1.1%-9.5pp | 10.7%+7.4pp | 3.3%-1.3pp | 4.5%+1.4pp | 3.1% | N/A |
| Return on Assets | 11.3%+10.7pp | 0.6%+1.9pp | -1.2%-2.8pp | 1.5%-1.5pp | 3.0%+1.9pp | 1.2%-0.9pp | 2.1%+0.5pp | 1.6%+0.4pp | 1.2%+0.7pp | 0.4%-3.3pp | 3.7%+2.7pp | 1.0%+0.1pp | 0.8%+0.5pp | 0.3%+0.4pp | -0.1% |
| Debt-to-Equity | 0.75-0.3x | 1.04-0.1x | 1.10+0.2x | 0.93+0.9x | 0.000.0x | 0.000.0x | 0.00-1.0x | 1.00-0.2x | 1.18-0.2x | 1.35-0.4x | 1.76-0.5x | 2.27-1.8x | 4.05-3.5x | 7.54 | N/A |
| FCF Margin | 17.7%-19.1pp | 36.8%+2.4pp | 34.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Current Ratio.
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Where Sun Communities Ranks
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%.
What is Sun Communities's net profit margin?
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.
Does Sun Communities pay dividends?
Yes, Sun Communities (SUI) paid $7.96 per share in dividends during fiscal year 2025.
What is Sun Communities's return on equity (ROE)?
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.
What is Sun Communities's free cash flow?
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.
What is Sun Communities's operating cash flow?
Sun Communities (SUI) generated $864.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sun Communities's total assets?
Sun Communities (SUI) had $12.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Sun Communities's capital expenditures?
Sun Communities (SUI) invested $457.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Sun Communities's debt-to-equity ratio?
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.
What is Sun Communities's return on assets (ROA)?
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.
What is Sun Communities's Piotroski F-Score?
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.
Are Sun Communities's earnings high quality?
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.