Equity Lifestyle Properties, Inc.

ELS Real Estate Reit Residential

Equity Lifestyle Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 5.56%, EPS grew 19.1%, free cash flow grew 14.7% and total debt rose 29.4%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for ten.

61.21 0.96 +1.59%
Market cap
$12.1B
P/E
29.4×
Fwd P/E
30.8×
Dividend yield
3.50%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Total sells 0.20
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — 1 — — — — — — —
Insider Ownership 1.01%

Capital & Financial Ratios $m

Market Cap 12,080.00
Revenue 1,562.62
Net Income 415.18
Free Cash Flow 347.93
Net Debt 529.73
Current Ratio 0.02
Debt/Equity 0.31
P/E ratio 29.43
Fwd P/E 30.80
P/S ratio 7.59
P/B ratio 6.53
Past 5Y EPS Growth 11.05%
This Y EPS Growth 3.33%
Next Y EPS Growth 6.06%
Next Y revenue growth 2.72%
Next 5Y EPS Growth 5.81%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 0.96%
10-year low 10-year high
P/S against its own 10 years 11.43%
10-year low 10-year high
P/B against its own 10 years 7.56%
10-year low 10-year high
EV/Sales against its own 10 years 13.31%
10-year low 10-year high
EV/FCF against its own 10 years 18.89%
10-year low 10-year high

Dividends

Payout Ratio 1.03
Annual Dividend Rate 2.14
Annual Dividend Yield 3.50%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.16
0.54
0.54
0.54
2025 2.06
0.52
0.52
0.52
0.52
2024 1.91
0.48
0.48
0.48
0.48
2023 1.79
0.45
0.45
0.45
0.45
2022 1.64
0.41
0.41
0.41
0.41
2021 1.45
0.36
0.36
0.36
0.36
2020 1.37
0.34
0.34
0.34
0.34
2019 1.23
0.31
0.31
0.31
0.31
2018 1.10
0.28
0.28
0.28
0.28
2017 0.98
0.24
0.24
0.24
0.24
2016 0.85
0.21
0.21
0.21
0.21
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 30 25 26 36
Receivables — — — —
Inventory — — — —
Other — — — —
80 75 119 67
2023 2024 2025 Q'26
Payables 152 159 153 182
ST’ Debt — — — —
Other — — — —
3,154 3,098 2,943 2,940

Compound Annual Growth %

10y 5y 3y
Sales 6.42% 6.48% 1.91%
Cash Flow 4.93% 6.47% 6.28%
Earnings 11.50% 11.11% 10.74%
Book Value 6.22% 6.82% 6.15%

Revenue $m

Mar Jun Sep Dec Year
’26 398 398 — — —
’25 387 377 393 374 1,531
’24 387 380 387 372 1,526
’23 370 370 389 361 1,489
’22 360 365 381 341 1,447
’21 304 330 347 335 1,316
’20 280 254 285 299 1,119
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 194 148 — — —
’25 193 131 147 99 571
’24 199 143 150 105 597
’23 159 108 152 129 548
’22 155 149 101 71 476
’21 173 156 125 55 509
’20 131 108 122 57 417
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 149 82 — — —
’25 148 72 76 41 337
’24 144 81 91 38 354
’23 89 19 70 43 222
’22 78 (17) 38 (13) 87
’21 (179) 32 (81) (5) (233)
’20 81 51 65 (187) 10
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.56 0.50 — — —
’25 0.57 0.42 0.50 0.52 2.01
’24 0.59 0.42 0.44 0.50 1.96
’23 0.44 0.34 0.41 0.49 1.69
’22 0.45 0.33 0.36 0.39 1.53
’21 0.36 0.33 0.38 0.36 1.43
’20 0.37 0.25 0.28 0.35 1.19
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 31.11 35.51 39.89 46.83 41.97 58.27 56.91 60.47 59.82 58.15

Analyst estimates 2026–2028

Powerpack
High 41.60 45.97 52.03 74.55 77.55 88.70 87.70 74.40 76.60 70.35
People
People Employees 4,100 4,100 4,100 4,200 4,000 4,100 4,200 4,000 3,800 3,700
Revenue/emp, $m 0.21 0.23 0.24 0.25 0.28 0.32 0.34 0.37 0.40 0.41
Income, $m
Income, $m Revenue 870 925 987 1,037 1,119 1,316 1,447 1,489 1,526 1,531
Gross margin, % 52.59 52.07 52.67 53.00 51.91 50.00 49.53 50.87 52.48 53.00
EBT 185 207 221 296 236 272 295 320 381 391
EBT margin, % 21.20 22.33 22.44 28.53 21.10 20.68 20.42 21.49 24.94 25.56
Net income 187 210 226 296 241 276 299 330 385 402
Depreciation 122 126 140 157 161 196 212 214 215 219
Per share, $
Per share, $ Revenue 5.13 5.32 5.55 5.74 6.15 7.20 7.79 8.01 8.14 7.97
Earnings 0.97 1.09 1.20 1.54 1.19 1.43 1.53 1.69 1.96 2.01
Cash flow 2.08 2.17 2.33 2.45 2.30 2.78 2.56 2.95 3.18 2.97
Capex (1.28) (1.51) (2.34) (2.02) (2.24) (4.06) (2.10) (1.75) (1.29) (1.22)
Free cash flow 0.79 0.66 (0.01) 0.43 0.06 (1.27) 0.47 1.19 1.89 1.75
Book value 6.38 6.32 6.71 7.31 7.18 8.12 8.17 8.05 9.73 9.45
Shares, m 170 174 178 181 182 183 186 186 187 192
Valuation, ×
Valuation, × P/E 36.97 40.37 40.64 45.86 49.94 61.30 41.95 42.34 34.15 30.15
P/S 6.95 8.31 8.76 12.27 10.30 12.18 8.24 8.89 8.18 7.60
P/B 6.40 6.99 7.24 9.63 8.83 10.79 7.86 8.83 6.84 6.42
EV/Sales 7.11 8.52 8.89 12.59 10.47 12.58 8.71 9.22 8.34 7.94
EV/FCF 45.98 68.32 (5,329.05) 167.69 1,128.09 (71.02) 145.60 61.98 35.96 36.13
Cash, $m
Cash, $m Operating cash flow 352 378 414 444 417 509 476 548 597 571
Capex (218) (263) (416) (366) (407) (742) (389) (326) (243) (235)
Free cash flow 135 115 (2) 78 10 (233) 87 222 354 337
Balance, $m
Balance, $m Working capital (1,899) (1,976) (2,157) (2,116) (2,523) (2,646) (2,812) (3,074) (3,023) (2,824)
Total debt 199 228 199 359 222 646 695 529 276 542
Net debt 143 193 130 330 198 523 672 499 252 516
Shareholders’ equity 1,082 1,100 1,193 1,322 1,305 1,486 1,517 1,499 1,824 1,815
Returns, %
Returns, % ROA 4.77 5.36 5.64 6.91 5.33 5.40 5.27 5.66 6.52 6.79
ROIC 14.62 14.99 15.54 12.99 14.65 12.07 12.04 14.34 15.32 14.01
ROE 18.20 18.57 18.54 22.19 17.38 18.81 18.95 20.83 22.09 21.24
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Equity Lifestyle Properties, Inc. vs peers in Reit Residential (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ESS Essex Property Trust, Inc. $17.9B 41.9× 47.4× +4.09% (above 0%: growing) −71.80% (below 0%: shrinking) +21.02% (above 0%: growing) 68.42% 22.36% Compare
UDR United Dominion Realty Trust, Inc. $17.9B 21.7× 46.5× 0.00% +90.91% (above 0%: growing) −27.77% (below 0%: shrinking) 62.41% 27.23% Compare
INVH Invitation Home $15.8B 24.8× 39.7× +9.71% (above 0%: growing) +60.87% (above 0%: growing) +41.97% (above 0%: growing) 55.10% 24.62% Compare
SUI Sun Communities, Inc. $14.1B — (loss-making) 54.0× +8.02% (above 0%: growing) n/m −12.76% (below 0%: shrinking) 55.40% 12.25% Compare
MAA Mid-America Apartment Communities, Inc. $13.8B 34.1× 40.5× +0.95% (above 0%: growing) +13.04% (above 0%: growing) −3.86% (below 0%: shrinking) 57.37% 25.36% Compare
CPT Camden Property Trust $13.3B 32.7× 102× −0.90% (below 0%: shrinking) −75.68% (below 0%: shrinking) −1,195.62% (below 0%: shrinking) 64.13% 12.20% Compare
ELS Equity Lifestyle Properties, Inc. $12.1B 29.4× 30.8× +5.56% (above 0%: growing) +19.05% (above 0%: growing) +14.74% (above 0%: growing) 51.52% 32.00%
AMH American Homes 4 Rent $11.1B 24.8× 44.5× +2.75% (above 0%: growing) +10.71% (above 0%: growing) +24.76% (above 0%: growing) 58.35% 25.92% Compare
IRT Independence Realty Trust, Inc. $3.6B 80.1× 120× +3.12% (above 0%: growing) −51.67% (below 0%: shrinking) −14.38% (below 0%: shrinking) 57.36% 15.51% Compare
Median of peers $14.0B 32.7× 47.0× +2.94% +10.71% −8.31% 57.86% 23.49%

All 19 Reit Residential stocks →

Equity Lifestyle Properties, Inc. (ELS) key facts

  • Equity Lifestyle Properties, Inc. (ELS) is a Reit Residential company in the Real Estate sector, listed on the New York Stock Exchange.
  • Equity Lifestyle Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, roughly unchanged from fiscal 2024.
  • As of October 16, 2026, ELS traded at $61.21, a market capitalization of $12.1 billion.
  • Equity Lifestyle Properties, Inc. pays an annual dividend of $2.14 per share, a yield of 3.50%, with a payout ratio of 103.0%.
  • Return on equity was 21.2% and debt-to-equity 0.31.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Equity Lifestyle Properties, Inc. (ELS) Latest News

21 Apr

Impact 3 ·

4 Feb

28 Oct

stockrow.com/ELS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com