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Stock research / United States / ELS · Real Estate Investment Trusts · NYSE

Equity Lifestyle Properties Inc. (ELS)

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Equity Lifestyle Properties Inc. (ELS) reported revenue of $398 million for Q2 FY2026, the quarter ended 30 June 2026, up 5.6% on the same quarter a year earlier. Net income was $100 million, up 19.2% on the year, and diluted earnings per share $0.50. The figures are the company's own, from the 10-Q it filed with the SEC on 28 July 2026.

Revenue$398 millionup 5.6%
Net income$100 millionup 19.2%
Diluted EPS$0.50
QuarterQ2 FY2026ended 30 June 2026

Equity Lifestyle Properties (ELS) in brief

Equity Lifestyle Properties (ELS) reported revenue of $1.5 billion for fiscal 2025, the year ended 31 December 2025, up 0.3% on the year before.
Read moreNet income was $402 million and diluted earnings per share $2.01. Revenue was $1.5 billion in fiscal 2024, $1.5 billion in fiscal 2023, $1.4 billion in fiscal 2022 and $1.3 billion in fiscal 2021. Net income in the same years was $385 million, $330 million, $299 million and $276 million. Over the twelve months to 30 June 2026, Equity Lifestyle Properties reported revenue of $1.6 billion and net income of $415 million. Revenue grew 6.5% a year, compounded, over the five years to fiscal 2025. Equity Lifestyle Properties declared $2.12 a share in dividends over the last four quarters and had 194 million shares outstanding at the latest filed count. At the close of 8 October 2026 the market cap of Equity Lifestyle Properties was $11.3 billion, 28.1 times its earnings over the last twelve months.

Ratios

From the filings

ROE23.6%
ROCE8.1%
Operating margin26.2%
Net margin26.6%
FCF margin22.2%
Interest cover3.03
Debt to equity1.88
Cash conversion1.42
Share count, 1 year1.4%
Sales CAGR, 3 years1.9%
Profit CAGR, 3 years10.4%
EPS, TTM$2.08

At the close of 8 October 2026

Price$58.50
Market cap$11.3 billion
Stock P/E28.12
Price to book6.45
EV / EBITDA23.53
Dividend yield3.6%
Market cap / sales7.26
52-week high$68.37
52-week low$57.62
Price, 1 year-7.0%
Price CAGR, 3 years-3.0%
Price CAGR, 5 years-6.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on the borrowing lines of Equity Lifestyle Properties Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
ELSgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on ELS

Filings20 in twelve months: 13 current reports (8-K), about 6 other events; 4 regulation fd disclosure; 4 results of operations; 1 shareholder vote; 1 officer or director change
Planned insider sales1 Form 144 notice in twelve months, $201,660; latest 18 March 2026
Options tapeput/call 0.49 by open interest at the 8 October 2026 close; the straddle prices a 6.7% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Geode Capital Management; 8 Schedule 13D or 13G filings in twelve months
Insider trading1 sale and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest9.3 million shares short, 6.76 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025 †Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue389361387380387372387377393374398398
Operating income81.085.411581.582.810210984.298.699.011299.4
Operating margin21%24%30%21%21%27%28%22%25%26%28%25%
Interest expense33.433.233.536.036.531.631.132.233.734.033.633.8
Pre-tax income80.1n/an/an/an/an/an/an/an/an/an/an/a
Tax rate0%n/an/an/an/an/an/an/an/an/an/an/a
Net income80.796.411582.186.910111483.510010411199.5
Net margin21%27%30%22%22%27%30%22%26%28%28%25%
Diluted EPS$0.41$0.50$0.59$0.42$0.44$0.51$0.57$0.42$0.50$0.52$0.56$0.50
Operating cash flow15212919914315010519313114799.5194148
Capital expenditure82.286.654.762.558.465.745.259.571.361.245.364.2
Free cash flow69.742.814480.691.139.714871.875.738.314983.8
Dividends paid83.483.483.489.089.189.191.298.498.599.899.8105
Shares outstanding186m186m186m187m187m191m191m191m194m194m194m194m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Revenue7778228709259871,0371,1191,3161,4471,4891,5261,5311,563
Operating income272295315337356235236272295320381391409
Operating margin35.0%35.9%36.2%36.4%36.0%22.6%21.1%20.7%20.4%21.5%24.9%25.6%26.2%
Interest expense112106102101105104103109117132138131135
Pre-tax income132146185207221287236272295n/an/an/an/a
Income taxn/an/an/an/an/an/an/a0.00.0-10.5-0.4-3.3n/a
Effective tax raten/an/an/an/an/an/an/a0.0%0.0%n/an/an/an/a
Net income138151187210226296241276299330385402415
Net margin17.8%18.3%21.5%22.7%22.9%28.5%21.6%21.0%20.7%22.1%25.2%26.3%26.6%
Diluted EPS$0.70$0.77$0.96$1.08$1.19$1.54$1.25$1.43$1.53$1.69$1.96$2.01$2.08
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Core Property Operations1,3621,4221,45696.2%
Home Sales and Rentals Operations11086.257.03.8%
Core Property OperationsHome Sales and Rentals Operations
1,472FY20231,509FY20241,513FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Operating cash flow286353352378414444417509476548597571589
Capital expenditure63.793.811914225258.3209398133317241237242
Free cash flow222259233236162385208111343231355334347
Free cash flow margin28.6%31.5%26.8%25.5%16.5%37.1%18.6%8.4%23.7%15.5%23.3%21.8%22.2%
Cash from investing-128-121-219-305-398-352-401-828-402-325-218-277-229
Cash from financing-143-226-158-98.817.3-132-21.0419-175-216-384-293-357
Depreciation and amortisation116117122124137152155188202204204209212
Share-based compensation7.68.69.29.410.010.511.512.78.817.89.47.35.8
Buybacks0.00.10.20.00.0n/an/an/an/an/an/an/an/a
Dividends paid102122140164190216243262296326351388403
Dividend per sharen/an/an/an/a$0.24n/an/an/an/an/a$1.91$2.06$2.12
Diluted shares, weighted183m184m185m187m190m192m193m193m195m195m197m200m200m
Shares outstanding at period end168m169m171m177m180m182m182m186m186m186m191m194m194m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022 †FY2023FY2024FY2025TTM
Funded by
Shareholders' equity9129251,0091,0321,1221,2501,2341,4151,4451,4291,7411,7561,758
Non-controlling interest67.067.673.368.171.872.171.171.172.169.983.158.658.4
Debt2,2122,1462,0912,2002,3602,2482,4453,2743,3883,5193,2053,3463,313
Other liabilities238262306310373581669547587597617585671
Total liabilities and equity3,4293,4003,4793,6103,9264,1514,4195,3085,4935,6145,6465,7455,801
Owned
Goodwill7.87.87.87.87.87.87.817.417.617.617.617.6n/a
Intangible assets4.34.34.34.34.34.34.738.038.038.038.038.0n/a
Cash and equivalentsn/a86.561.835.669.028.924.112322.329.924.626.135.6
Other assets3,4173,3023,4053,5623,8454,1104,3825,1295,4155,5285,5655,6645,765
Total assets3,4293,4003,4793,6103,9264,1514,4195,3085,4935,6145,6465,7455,801
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.4%6.5%1.9%2.5%
Profit growth, compounded10.3%10.7%10.4%7.8%
Return on equity, average21.1%21.7%22.7%22.9%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Trading

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Welltower Inc. WELL$160.3 billion102.313.3%-2.4%37.6%0.381.3%
Prologis, Inc. PLD$120.6 billion28.807.8%54.7%7.3%0.680.0%
Equinix Inc. EQIX$99.8 billion65.1110.7%21.8%9.6%1.381.9%
American Tower Corp. AMT$77.7 billion22.9391.4%44.8%6.6%8.594.1%
Digital Realty Trust, Inc. DLR$66.8 billion88.472.9%14.6%17.4%0.68n/a
Simon Property Group Inc. SPG$64.7 billion14.08104.1%47.4%15.0%6.474.3%
Realty Income Corp. O$51.3 billion39.543.2%20.1%10.9%0.635.9%
Public Storage PSA$50.1 billion27.2422.2%39.0%3.0%1.114.2%
Ventas, Inc. VTR$41.9 billion151.411.8%3.3%21.5%0.872.3%
Iron Mountain Inc. IRM$33.6 billion80.69n/a18.8%17.4%n/a3.0%
Crown Castle Inc. CCI$29.3 billionn/an/an/an/an/a6.2%
Extra Space Storage Inc. EXR$28.1 billion29.397.2%40.9%4.2%1.034.9%
All 91 in Trading
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Morgan Stanley MS$294.6 billion15.1517.3%n/a18.0%3.372.1%
Goldman Sachs Group Inc. GS$257.2 billion13.6217.1%n/a17.8%3.571.9%
Charles Schwab Corp. SCHW$167.5 billion17.6120.1%n/a20.3%0.451.1%
BlackRock, Inc. BLK$165.8 billion25.5611.4%32.6%26.5%0.221.9%
Welltower Inc. WELL$160.3 billion102.313.3%-2.4%37.6%0.381.3%
Prologis, Inc. PLD$120.6 billion28.807.8%54.7%7.3%0.680.0%
CME Group Inc. CME$99.9 billion23.4516.3%65.1%5.1%0.131.8%
Equinix Inc. EQIX$99.8 billion65.1110.7%21.8%9.6%1.381.9%
Robinhood Markets, Inc. HOOD$97.6 billion47.1421.7%46.0%38.3%0.23n/a
Intercontinental Exchange, Inc. ICE$87.2 billion21.9413.7%40.7%6.9%0.671.3%
Blackstone Inc. BX$84.8 billion25.2139.0%47.2%17.2%1.484.2%
KKR & Co. Inc. KKR$80.4 billion28.5210.2%n/a31.1%1.721.5%
American Tower Corp. AMT$77.7 billion22.9391.4%44.8%6.6%8.594.1%
Brookfield Asset Management Ltd. BAM$72.8 billionn/an/a58.6%31.9%0.443.4%
Digital Realty Trust, Inc. DLR$66.8 billion88.472.9%14.6%17.4%0.68n/a
Apollo Global Management, Inc. APO$66.4 billion41.938.9%20.2%41.2%0.651.8%
Simon Property Group Inc. SPG$64.7 billion14.08104.1%47.4%15.0%6.474.3%
Nasdaq, Inc. NDAQ$51.9 billion26.9316.4%29.5%7.6%0.731.2%
Realty Income Corp. O$51.3 billion39.543.2%20.1%10.9%0.635.9%
Public Storage PSA$50.1 billion27.2422.2%39.0%3.0%1.114.2%
Ameriprise Financial Inc. AMP$44.1 billion12.0662.0%25.9%10.6%0.560.6%
Ventas, Inc. VTR$41.9 billion151.411.8%3.3%21.5%0.872.3%
Interactive Brokers Group, Inc. IBKR$38.9 billion34.5919.1%n/a21.3%0.000.0%
Ares Management Corp. ARES$36.2 billionn/a16.0%18.1%24.0%n/a4.3%
Iron Mountain Inc. IRM$33.6 billion80.69n/a18.8%17.4%n/a3.0%
Cboe Global Markets, Inc. CBOE$30.7 billion22.9224.1%34.7%11.7%0.260.9%
Raymond James Financial Inc. RJF$30.5 billion13.8318.2%n/a10.5%0.071.3%
Crown Castle Inc. CCI$29.3 billionn/an/an/an/an/a6.2%
Extra Space Storage Inc. EXR$28.1 billion29.397.2%40.9%4.2%1.034.9%
Nomura Holdings Inc. NMR *$27.7 billion12.659.8%n/a14.0%n/a4.3%
Vici Properties Inc. VICI$25.1 billion8.839.5%n/a4.4%0.587.9%
Texas Pacific Land Corp. TPL$24.7 billion45.6032.4%74.9%20.8%0.000.6%
T. Rowe Price Group, Inc. TROW$22.2 billion10.4520.2%30.8%7.0%0.004.9%
Vivmark Residential VMRK$22.2 billion25.678.3%28.2%2.8%0.574.7%
Royal Gold Inc. RGLD$19.6 billion25.249.7%61.4%93.5%0.050.8%
SBA Communications Corp. SBAC$18.0 billion18.32n/a47.6%5.4%n/an/a
Essex Property Trust, Inc. ESS$17.3 billion41.837.8%32.5%4.7%1.203.8%
Franklin Templeton Inc. BEN$16.4 billion22.046.9%9.7%7.9%0.204.0%
Host Hotels & Resorts, Inc. HST$15.4 billion15.0316.1%14.6%4.9%0.804.2%
Kimco Realty Corp. KIM$14.8 billion25.995.9%36.0%4.4%0.814.6%
Lamar Advertising Co. LAMR$14.8 billion26.5955.9%31.8%4.4%3.284.4%
W. P. Carey Inc. WPC$14.4 billion21.557.5%41.8%9.0%1.025.9%
Weyerhaeuser Co. WY$13.8 billion29.055.0%12.3%-2.6%0.564.4%
Annaly Capital Management Inc. NLY$13.7 billion4.4217.4%n/a27.5%2.0315.3%
SUN Communities Inc. SUI$13.7 billionn/an/an/an/a0.733.9%
Mid-America Apartment Communities, Inc. MAA$13.5 billion33.977.4%n/a0.8%1.055.2%
Carlyle Group Inc. CG$13.4 billion39.385.0%17.0%-41.9%1.913.7%
Invesco Ltd. IVZ$13.3 billionn/a-2.5%-7.1%12.2%0.132.8%
Omega Healthcare Investors Inc. OHI$13.2 billion15.7115.9%60.6%15.0%0.756.1%
Regency Centers Corp. REG$13.1 billion24.078.1%72.0%8.2%0.714.0%
Healthpeak Properties, Inc. DOC$12.8 billion52.913.1%5.1%5.5%1.286.6%
SEI Investments Co. SEIC$12.4 billion18.2128.3%28.9%11.1%0.011.0%
Equity Lifestyle Properties Inc. ELS$11.3 billion28.1223.6%26.2%2.5%1.883.6%
Stifel Financial Corp. SF$11.3 billion12.4315.9%n/a15.4%0.101.7%
Gaming & Leisure Properties, Inc. GLPI$11.1 billion11.2219.4%82.5%5.8%1.628.3%
American Homes 4 Rent AMH$11.0 billion24.206.8%14.8%4.3%0.753.9%
Evercore Inc. EVR$11.0 billion15.0840.1%21.4%45.4%0.291.2%
Udr, Inc. UDR$10.8 billion21.3817.8%40.8%1.5%1.985.1%
Eastgroup Properties Inc. EGP$10.5 billion34.238.5%40.5%11.0%0.453.0%
Affiliated Managers Group, Inc. AMG$10.0 billion13.5628.2%15.1%11.8%0.990.0%
American Healthcare Reit, Inc. AHR$9.8 billion74.183.3%19.2%16.4%0.242.0%
Camden Property Trust CPT$9.7 billion32.048.6%n/a0.5%1.284.3%
Bxp, Inc. BXP$9.5 billion31.895.8%28.3%1.9%3.035.1%
Federal Realty Investment Trust FRT$9.2 billion21.3113.0%47.9%8.0%1.424.2%
Jefferies Financial Group Inc. JEF$9.0 billionn/a7.8%n/a21.4%1.713.6%
Houlihan Lokey, Inc. HLI$8.5 billion21.1018.0%20.4%1.7%0.000.2%
InterDigital, Inc. IDCC$8.5 billion37.8725.1%43.8%-11.7%0.320.9%
CubeSmart CUBE$8.5 billion25.8713.0%39.8%3.9%1.355.6%
CareTrust Reit, Inc. CTRE$8.4 billion22.517.9%55.7%53.0%0.274.1%
Brixmor Property Group Inc. BRX$8.3 billion19.3414.3%n/a5.8%1.764.3%
Rexford Industrial Realty, Inc. REXR$8.3 billionn/a-5.2%39.3%0.5%0.434.6%
Agree Realty Corp. ADC$8.2 billion35.393.4%47.9%18.2%0.594.0%
Alexandria Real Estate Equities, Inc. ARE$7.9 billionn/a-6.6%-69.8%-8.4%0.8210.3%
First Industrial Realty Trust Inc. FR$7.9 billion21.6413.1%41.6%8.4%0.933.0%
NNN Reit, Inc. NNN$7.7 billion19.748.6%62.3%6.5%1.005.9%
Morningstar, Inc. MORN$7.6 billion19.2041.2%23.5%9.3%1.660.9%
Stag Industrial, Inc. STAG$6.9 billion27.606.8%37.6%9.6%0.954.2%
Vornado Realty Trust VNO$6.3 billion1,690.501.2%n/a1.4%1.292.2%
Healthcare Realty Trust Inc. HR$5.9 billionn/a-2.1%n/a-6.3%0.996.4%
Rayonier Inc. RYN$5.6 billionn/an/an/an/a0.3613.4%
Dolby Laboratories, Inc. DLB$5.5 billion24.878.8%17.7%0.6%0.002.4%
Kite Realty Group Trust KRG$4.8 billion14.8611.8%16.3%-5.9%0.995.2%
Sabra Health Care Reit, Inc. SBRA$4.8 billion72.462.4%n/a17.3%0.956.4%
Starwood Property Trust, Inc. STWD$4.7 billion21.983.5%1.5%11.8%2.9115.1%
Cousins Properties Inc. CUZ$4.6 billion693.000.1%68.0%11.9%0.834.6%
EPR Properties EPR$4.2 billion17.5011.4%55.1%4.5%1.436.5%
Federated Hermes, Inc. FHI$4.0 billion10.4232.9%27.1%15.0%0.282.4%
Kilroy Realty Corp. KRC$4.0 billion23.913.2%n/a-3.8%0.876.3%
Copt Defense Properties CDP$3.8 billion23.4110.7%30.3%4.5%1.703.6%
Independence Realty Trust, Inc. IRT$3.5 billion81.331.3%16.9%3.5%0.734.7%
Hamilton Lane Inc. HLNEn/an/a29.4%43.6%24.0%0.29n/a
55 companies share its SEC industry code (Real Estate Investment Trusts); the rest are the names nearest in size in its wider industry, Trading, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202628 July 2026EDGAR
10-Q31 March 202628 April 2026EDGAR
10-K31 December 202518 February 2026EDGAR
10-Q30 September 202529 October 2025EDGAR
10-Q30 June 202529 July 2025EDGAR
10-Q31 March 202530 April 2025EDGAR
10-K31 December 202425 February 2025EDGAR
10-Q30 September 202430 October 2024EDGAR
10-Q30 June 202430 July 2024EDGAR
10-Q31 March 20241 May 2024EDGAR

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