Sun Communities Financials
This page shows Sun Communities (SUI) 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).
FY2025 was dominated by balance-sheet reshaping, with asset-sale economics driving profits more than the underlying revenue base.
Net income jumped to$1.4B in FY2025 even though revenue was only$2.3B and operating cash flow was essentially flat at$864M versus$861M in FY2024. Paired with a$4.9B investing inflow, a roughly$4.0B reduction in assets, and a$5.2B financing outflow, that pattern says transactions and deleveraging mattered more than day-to-day operations in the reported earnings surge.
The business’s cash engine is steadier than its earnings: operating cash flow stayed in a narrow band around
FY2025 also changed the financing posture: total liabilities fell by about
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Sun Communities'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.
Sun Communities's revenue grew a modest 2.0% year-over-year to $2.3B. This slow but positive growth earns a score of 34/100.
Sun Communities carries a low D/E ratio of 0.75, meaning only $0.75 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
Sun Communities converts 17.7% of revenue into free cash flow ($407.2M). This strong cash generation earns a score of 92/100.
Sun Communities's ROE of 20.3% shows moderate profitability relative to equity, earning a score of 33/100. This is up from 1.5% the prior year.
Sun Communities passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 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.
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 against $0 in long-term debt as of fiscal year 2025.
Sun Communities paid $7.96 per share in dividends in fiscal year 2025. This represents an increase of 112.3% from the prior year.
Sun Communities had 124M shares outstanding in fiscal year 2025. This represents a decrease of 3.1% 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.
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.
SUI Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $507.9M-1.4% | $515.2M-26.1% | $697.2M+11.8% | $623.5M+32.6% | $470.2M-8.6% | $514.6M-24.4% | $680.4M+14.1% | $596.3M |
| Cost of Revenue | $25.6M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $482.3M | 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 | $69.5M+10.8% | $62.7M+12.4% | $55.8M-8.8% | $61.2M+7.4% | $57.0M-5.3% | $60.2M+2.6% | $58.7M+17.9% | $49.8M |
| Operating Income | $188.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $38.4M-2.0% | $39.2M-5.5% | $41.5M-28.7% | $58.2M-29.1% | $82.1M-1.3% | $83.2M-5.0% | $87.6M-2.4% | $89.8M |
| Income Tax | -$6.4M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$6.4M-105.0% | $128.9M+965.3% | $12.1M-99.1% | $1.3B+3289.6% | -$41.2M+82.0% | -$228.4M-176.0% | $300.5M+430.0% | $56.7M |
| EPS (Diluted) | $-0.07 | N/A | $0.07-99.3% | $10.02+3047.1% | $-0.34 | N/A | $2.31+450.0% | $0.42 |
SUI Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.4B-1.3% | $12.5B-2.2% | $12.8B-4.2% | $13.4B-19.0% | $16.5B-0.3% | $16.5B-3.1% | $17.1B+0.4% | $17.0B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $497.0M-12.7% | $569.6M+5.0% | $542.7M-39.0% | $889.7M+813.4% | $97.4M+103.3% | $47.9M-25.9% | $64.6M-33.5% | $97.2M |
| 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 | $9.5M0.0% | $9.5M0.0% | $9.5M0.0% | $9.5M0.0% | $9.5M0.0% | $9.5M-98.7% | $742.6M+1.5% | $731.7M |
| Total Liabilities | $5.3B+2.0% | $5.2B-4.5% | $5.4B-2.4% | $5.6B-39.7% | $9.2B+1.5% | $9.1B-1.6% | $9.2B-5.5% | $9.8B |
| 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 | N/A | N/A | $7.4B | N/A | N/A |
| Total Equity | $6.8B-2.9% | $7.0B-0.4% | $7.0B-5.7% | $7.4B+7.1% | $6.9B-2.3% | $7.1B-5.0% | $7.5B+8.3% | $6.9B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SUI Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $269.3M+61.7% | $166.5M-15.8% | $197.8M-22.7% | $256.0M+5.0% | $243.9M+106.7% | $118.0M-37.6% | $189.2M-39.2% | $311.3M |
| 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 | -$140.2M+69.4% | -$458.2M-778.8% | $67.5M-98.7% | $5.3B+19603.3% | -$27.4M+73.1% | -$101.8M-166.0% | $154.3M+180.0% | -$192.8M |
| Financing Cash Flow | -$267.3M-5.9% | -$252.3M+54.3% | -$551.9M+87.0% | -$4.2B-2386.5% | -$170.7M-422.0% | -$32.7M+91.1% | -$366.8M-150.0% | -$146.7M |
| Dividends Paid | $140.9M | N/A | $131.5M | N/A | $122.6M | N/A | N/A | N/A |
| Share Buybacks | $60.1M+54.9% | $38.8M-87.0% | $297.5M+46.7% | $202.8M | $0 | $0 | $0 | N/A |
SUI Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 95.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 37.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -1.3%-26.3pp | 25.0%+23.3pp | 1.7%-209.0pp | 210.8%+219.5pp | -8.8%+35.6pp | -44.4%-88.5pp | 44.2%+34.7pp | 9.5% |
| Return on Equity | -0.1%-1.9pp | 1.8%+1.7pp | 0.2%-17.6pp | 17.7%+18.3pp | -0.6%+2.6pp | -3.2%-7.3pp | 4.0%+3.2pp | 0.8% |
| Return on Assets | -0.1%-1.1pp | 1.0%+0.9pp | 0.1%-9.7pp | 9.8%+10.1pp | -0.3%+1.1pp | -1.4%-3.1pp | 1.8%+1.4pp | 0.3% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.78+0.0 | 0.75-0.0 | 0.78+0.0 | 0.75-0.6 | 1.33+0.3 | 1.04-0.2 | 1.24-0.2 | 1.42 |
| 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 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% 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 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 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.
How financially healthy is Sun Communities?
Sun Communities (SUI) scores 41 out of 100 on our Financial Profile, indicating moderate 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.