EQUITY LIFESTYLE PROPERTIES INC ELS

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Equity LifeStyle Properties, Inc.

Equity LifeStyle Properties, Inc. ("ELS" or the "Company"), a Maryland corporation, together with MHC Operating Limited Partnership (the "Operating Partnership") and its other consolidated subsidiaries (the "Subsidiaries"), are referred to herein as "we," "us," and "our". We are a fully integrated owner of lifestyle-oriented properties ("Properties") consisting of property operations and home sales and rental operations primarily within manufactured home ("MH") and recreational vehicle ("RV") communities and marinas. We were formed in December 1992 to continue the property operations, business objectives and acquisition strategies of an entity that had owned and operated Properties since 1969. Mr. Samuel Zell served as Chairman of our Board of Directors (the "Board") from the Company's initial public offering until his passing in May 2023. Mr. Zell is recognized as a founder of the modern real estate investment trust ("REIT") industry. Commencing with our taxable year ended December 31, 1993, we have elected to be taxed as a REIT for U.S. federal income tax purposes.

Last close 60.84 2026-10-23
Market cap $11.80B 2026-03-31 share count
52-week range 57.45 - 69.00

Valuation FY2025 figures against the last close

P/S7.7x
P/E30.3x
P/FCF35.3x
EV/EBITDA25.2x
Dividend yield3.3%
Diluted EPS2.01

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.53B$1.53B$1.49B$1.45B$1.32B$1.12B$1.04B$986.7M$925.3M$870.4M
SG&A $37.5M$38.5M$47.3M$44.9M$39.6M$39.3M$35.7M$37.7M$31.7M$31.0M
Total operating expenses $1.14B$1.15B$1.17B$1.15B$1.04B$882.8M$802.6M$765.2M$718.7M$685.9M
Operating income $391.3M$380.7M$320.1M$295.5M$272.2M——$355.6M$336.7M$315.2M
Pre-tax income $405.3M$385.2M$340.2M$295.5M$272.1M$236.0M$287.2M$221.4M$206.6M$184.5M
Income tax $3.3M$354.0K$10.5M$0$0—————
Net income $402.1M$384.8M$329.7M$298.8M$276.0M$241.4M$295.9M$226.4M$210.4M$187.1M
EPS, basic 2.011.961.691.531.431.261.541.191.091.93
EPS, diluted 2.011.961.691.531.431.251.541.191.081.92
Shares, diluted (wtd. avg.) 200.1M196.6M195.4M195.3M192.9M192.6M192.0M190.1M186.8M92.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $26.1M$24.6M$29.9M$22.3M$123.4M$24.1M$28.9M$69.0M$35.6M$61.8M
Goodwill $17.6M$17.6M$17.6M$17.6M$17.4M$7.8M$7.8M$7.8M$7.8M$7.8M
Other intangibles $38.0M$38.0M$38.0M$38.0M$38.0M$4.7M$4.3M$4.3M$4.3M$4.3M
Total assets $5.75B$5.65B$5.61B$5.49B$5.31B$4.42B$4.15B$3.93B$3.61B$3.48B
Long-term debt $3.35B$3.20B$3.52B$3.39B$3.27B$2.44B$2.25B$2.36B$2.20B$2.09B
Total liabilities $3.93B$3.82B$4.12B$3.98B$3.82B$3.11B$2.83B$2.73B$2.51B$2.40B
Total equity $1.76B$1.74B$1.50B$1.52B$1.49B$1.30B$1.32B$1.19B$1.10B$1.08B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $571.1M$596.7M$548.0M$475.8M$509.0M$417.4M$443.5M$414.1M$378.0M$352.4M
Depreciation and amortisation $208.9M$203.9M$203.7M$202.4M$188.4M$155.1M$152.1M$137.2M$123.7M$118.5M
Stock-based compensation $7.3M$9.4M$17.8M$8.8M$12.7M$11.5M$10.5M$10.0M$9.4M$9.2M
Capital expenditure $237.1M$241.3M$317.1M$249.3M$204.3M$209.2M$258.0M$251.7M$142.4M$119.4M
Investing cash flow -$277.1M-$217.8M-$324.8M-$402.1M-$828.4M-$401.3M-$352.1M-$398.1M-$305.4M-$218.6M
Financing cash flow -$292.5M-$384.2M-$215.7M-$174.8M$418.7M-$21.0M-$131.5M$17.3M-$98.8M-$158.4M
Dividends paid $388.0M$350.6M$326.4M$296.1M$261.7M$242.9M$216.1M$190.2M$163.8M$140.1M
Buybacks ———————$0$0$229.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-008722.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B 2B Revenue, FY2016: 870.4M Net income, FY2016: 187.1M Revenue, FY2017: 925.3M Net income, FY2017: 210.4M Revenue, FY2018: 986.7M Net income, FY2018: 226.4M Revenue, FY2019: 1B Net income, FY2019: 295.9M Revenue, FY2020: 1.1B Net income, FY2020: 241.4M Revenue, FY2021: 1.3B Net income, FY2021: 276M Revenue, FY2022: 1.4B Net income, FY2022: 298.8M Revenue, FY2023: 1.5B Net income, FY2023: 329.7M Revenue, FY2024: 1.5B Net income, FY2024: 384.8M Revenue, FY2025: 1.5B Net income, FY2025: 402.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $870.4M $925.3M $986.7M $1.04B $1.12B $1.32B $1.45B $1.49B $1.53B $1.53B
Gross profit — — — — — — — — — —
Net income $187.1M $210.4M $226.4M $295.9M $241.4M $276.0M $298.8M $329.7M $384.8M $402.1M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event Item 8.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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