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Sun Communities, Inc (SUI) 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
Market Cap $13.5B as of Oct 8, 2026
Price / Sales 5.8x on $2.3B revenue, trailing 12 months to March 31, 2026
Price / Earnings 9.3x on $1.4B net income, trailing 12 months to March 31, 2026
Price / Book 2.0x on $6.8B 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 8, 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 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 SUI SEC filings page.

Sun Communities, Inc (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

Sun Communities’ reported 2025 earnings were asset-restructuring-heavy: cash generation stayed stable while liabilities and assets fell sharply.

Net income rose from $104M in FY2024 to $1.4B in FY2025, but that accounting improvement did not flow through proportionally to operations. Operating cash flow remained near $864M, while free cash flow fell to $407M, indicating that reported profit and distributable cash were telling very different stories.

The balance sheet was reshaped rather than simply expanded: total assets declined to $12.5B while total liabilities fell to $5.2B. Debt-to-equity improved from 1.0x to 0.7x, and the combination of a $4.9B investing inflow with a $5.2B financing outflow points to major balance-sheet transactions rather than ordinary operating growth.

Revenue stayed around $2.3B, but capital spending rose nearly fifteenfold in FY2025. Free-cash-flow margin compressed from 36.8% to 17.7%, showing that maintaining or expanding the asset base consumed far more of each revenue dollar even as reported earnings surged.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Sun Communities, Inc 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, Inc 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, Inc 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
$507.9M
YoY+8.0%
QoQ-1.4%
5Y CAGR+2.8%
10Y CAGR+11.3%

Sun Communities, Inc generated $507.9M in revenue in Q1 2026. This represents an increase of 8.0% from the same quarter a year earlier. Against the prior quarter it is down 1.4%.

Net Income
-$6.4M
YoY+84.5%
QoQ-105.0%

Sun Communities, Inc reported -$6.4M in net income in Q1 2026. This represents an increase of 84.5% from the same quarter a year earlier. Against the prior quarter it is down 105.0%.

EPS (Diluted)
-$0.07
YoY+79.4%
QoQ-106.8%

Sun Communities, Inc earned -$0.07 per diluted share (EPS) in Q1 2026. This represents an increase of 79.4% from the same quarter a year earlier. Against the prior quarter it is down 106.8%.

EBITDA

Not reported for Q1 2026.

Cash & Balance Sheet

Cash & Debt
$497.0M
YoY+410.3%
QoQ-12.7%
5Y CAGR+32.8%
10Y CAGR+1.9%

Sun Communities, Inc held $497.0M in cash as of Q1 2026; long-term debt is not reported for that period.

Dividends Per Share
$1.12
YoY+19.1%
QoQ+7.7%

Sun Communities, Inc paid $1.12 per share in dividends in Q1 2026. This represents an increase of 19.1% from the same quarter a year earlier. Against the prior quarter it is up 7.7%.

Shares Outstanding
123M
YoY-3.5%
QoQ0.0%
5Y CAGR+2.0%
10Y CAGR+6.7%

Sun Communities, Inc had 123M shares outstanding in Q1 2026. This represents a decrease of 3.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q1 2026.

Margins & Returns

Net Margin
-1.3%
YoY+7.5pp
QoQ-26.3pp
5Y change-6.9pp
10Y change-5.8pp

Sun Communities, Inc's net profit margin was -1.3% in Q1 2026, showing the share of revenue converted to profit. This is up 7.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 26.3 percentage points.

Return on Equity
-0.1%
YoY+0.5pp
QoQ-1.9pp
5Y change-0.5pp
10Y change-0.5pp

Sun Communities, Inc's ROE was -0.1% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.

Gross Margin

Not reported for Q1 2026.

Operating Margin

Not reported for Q1 2026.

Capital Allocation

Share Buybacks
$60.1M
QoQ+54.9%

Sun Communities, Inc spent $60.1M on share buybacks in Q1 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is up 54.9%.

R&D Spending

Not reported for Q1 2026.

Capital Expenditures

Not reported for Q1 2026.

SUI 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.

SUI quarterly income statement
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Revenue$507.9M+8.0%$515.2M+0.1%$697.2M+2.5%$623.5M+4.6%$470.2M+0.2%$514.6M-29.2%$680.4M-30.8%$596.3M-30.9%
SG&A Expenses$69.5M+21.9%$62.7M+4.2%$55.8M-4.9%$61.2M+22.9%$57.0M-7.8%$60.2M$58.7M-12.4%$49.8M-20.6%
Interest Expense$38.4M-53.2%$39.2M-52.9%$41.5M-52.6%$58.2M-35.2%$82.1M-8.5%$83.2M$87.6M+4.2%$89.8M+13.4%
Net Income-$6.4M+84.5%$128.9M+156.4%$12.1M-96.0%$1.3B+2217.6%-$41.2M-63.5%-$228.4M-171.3%$300.5M+136.6%$56.7M+127.0%
EPS (Basic)-$0.07+79.4%$1.03+156.9%$0.07-97.0%$10.02+2285.7%-$0.34-54.5%-$1.81-178.5%$2.31+138.1%$0.42+125.1%
EPS (Diluted)-$0.07+79.4%$1.03+157.2%$0.07-97.0%$10.02+2285.7%-$0.34-54.5%-$1.80-176.9%$2.31+138.1%$0.42+125.0%
Diluted Shares (Avg)126M-3.3%N/A124M+0.1%126M+2.2%130M+2.5%N/A124M+0.4%124M-1.9%

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

SUI Balance Sheet

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.

SUI quarterly balance sheet
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Total Assets$12.4B-25.1%$12.5B-24.3%$12.8B-25.1%$13.4B-21.5%$16.5B-3.6%$16.5B-2.3%$17.1B-0.9%$17.0B-1.3%
Cash & Equivalents$497.0M+410.3%$569.6M+1089.1%$542.7M+740.1%$889.7M+815.3%$97.4M-16.3%$47.9M+64.0%$64.6M+4.2%$97.2M+41.5%
Short-Term Investments$0$0$0$0$0$0$0$0
Long-Term Investments$0$0$0$0$0$0$0$0
Goodwill$9.5M0.0%$9.5M0.0%$9.5M-98.7%$9.5M-98.7%$9.5M-98.7%$9.5M-98.7%$742.6M+2.4%$731.7M-5.9%
Total Liabilities$5.3B-42.6%$5.2B-42.9%$5.4B-41.2%$5.6B-43.1%$9.2B-6.0%$9.1B-4.3%$9.2B-2.3%$9.8B+3.2%
Long-Term DebtN/AN/AN/AN/AN/A$7.4B-5.5%N/AN/A
Total Equity$6.8B-2.4%$7.0B-1.8%$7.0B-6.3%$7.4B+7.6%$6.9B-0.2%$7.1B0.0%$7.5B+0.8%$6.9B-6.9%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SUI quarterly cash flow statement
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Operating Cash Flow$269.3M+10.4%$166.5M+41.1%$197.8M+4.5%$256.0M-17.8%$243.9M+0.6%$118.0M+0.3%$189.2M-15.2%$311.3M+21.9%
Depreciation & Amortization$132.5M+7.1%$130.6M+6.7%$126.2M+1.7%$127.4M+3.6%$123.7M+2.2%$122.4M+937.3%$124.1M-23.7%$123.0M-25.0%
Stock-Based Compensation$16.4M+86.4%N/A$8.9M+32.8%$8.7M-13.9%$8.8M+11.4%N/A$6.7M-32.3%$10.1M+2.0%
Investing Cash Flow-$140.2M-411.7%-$458.2M-350.1%$67.5M-56.3%$5.3B+2871.7%-$27.4M+78.4%-$101.8M-0.1%$154.3M+165.4%-$192.8M+25.8%
Financing Cash Flow-$267.3M-56.6%-$252.3M-671.6%-$551.9M-50.5%-$4.2B-2793.3%-$170.7M-572.0%-$32.7M+9.2%-$366.8M-5415.9%-$146.7M-6568.2%
Dividends PaidN/AN/A$131.5MN/A$122.6MN/AN/AN/A
Share Buybacks$60.1M$38.8M$297.5M$202.8M$0$0$0N/A

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

SUI 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.

SUI quarterly financial ratios
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Net Margin-1.3%+7.5pp25.0%+69.4pp1.7%-42.4pp210.8%-8.8%-3.4pp-44.4%-32.8pp44.2%+31.3pp9.5%+33.9pp
Return on Equity-0.1%+0.5pp1.8%+5.1pp0.2%-3.9pp17.7%+16.9pp-0.6%-0.2pp-3.2%-2.0pp4.0%+2.3pp0.8%+3.7pp
Return on Assets-0.1%+0.2pp1.0%+2.4pp0.1%-1.7pp9.8%+9.5pp-0.3%-0.1pp-1.4%-0.9pp1.8%+1.0pp0.3%+1.6pp
Debt-to-Equity0.78-0.5x0.75-0.3x0.78-0.5x0.75-0.7x1.33-0.1x1.04-0.1x1.240.0x1.42+0.1x
Asset Turnover0.040.0x0.040.0x0.050.0x0.050.0x0.030.0x0.030.0x0.040.0x0.040.0x

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

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net 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
Sun Communities, Inc SUI FY2025 $2.3B $1.4B 61.3% $13.5B —
Invitation Homes Inc. INVH FY2025 $2.7B $587.9M 21.5% $15.6B 40/100
Essex Property Trust, Inc ESS FY2025 $1.9B $702.8M 37.2% $17.5B 57/100
Mid-America Apartment Communities, Inc. MAA FY2025 $2.2B $446.9M 20.2% $13.6B 41/100
UDR, Inc. UDR FY2025 $1.7B $377.7M 22.1% $10.9B 68/100
AMERICAN HOMES 4 RENT AMH FY2025 N/A $513.4M N/A $11.0B —

Frequently Asked Questions

What is Sun Communities, Inc's annual revenue?

Sun Communities, Inc (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, Inc's revenue growing?

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

Is Sun Communities, Inc profitable?

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

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

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

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

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

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

Sun Communities, Inc (SUI) had 123M shares outstanding as of fiscal year 2025.

Sun Communities, Inc (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, Inc (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, Inc (SUI) trades at 9.3x earnings, its market capitalization divided by net income of $1.4B net income, trailing 12 months to March 31, 2026. The market capitalization is $13.5B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Sun Communities, Inc (SUI) trades at 5.8x sales, its market capitalization divided by revenue of $2.3B revenue, trailing 12 months to March 31, 2026. The market capitalization is $13.5B as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Sun Communities, Inc (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, Inc (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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