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Friday 6 November 2026 Export SUI’s income statement to Excel — free account

Sun Communities, Inc.

SUI Real Estate Reit Residential

Sun Communities, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 2.02% from fiscal 2024.

Revenue
+12.6%
EPS
+1,411.3%
Free cash flow
+42.9%
Total debt
−11.6%

Quarter to September 2026, against a year earlier

121.70 0.46 +0.38%
Market cap
$14.6B
P/E
0.0×
Fwd P/E
−17.4×
Dividend yield
3.62%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2022

  • MH
  • Marina
  • RV
  • UK

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 27.24
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — 1 1 — 1 1 — — — — —
Insider Ownership 2.38%

Capital & Financial Ratios $m

Size
Market Cap 14,570.00
Revenue ttm 2,406.10
Net income ttm 1,230.70
Free cash flow ttm 549.30
Net debt Q 3,076.90
Valuation
P/E 0.00
Forward P/E (17.40) (negative: loss-making)
Price / sales 6.11
Forward P/S Powerpack
Price / FCF 26.76
Price / book 2.68
Financial health
Current ratio Q 4.68
Debt / equity Q 0.69
Interest coverage Q 4.10
Growth
Revenue growth Q +12.56% (above 0%: growing)
Operating income growth Q +34.36% (above 0%: growing)
EPS, this year −158.25% (below 0%: weak)
EPS, next year A +148.06% (at or above 15%: strong)
Revenue, next year A −14.53% (below 0%: weak)
EPS, past 5 yrs +51.91% (at or above 15%: strong)
EPS, next 5 yrs A −29.93% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 7.4×, against a ten-year median of 10.2×; over the ten years it ranged from 6.7× in 2023 to 14.5× in 2021.
P/S against its own 10 years 22.52%
10-year low 10-year high
P/B against its own 10 years 66.12%
10-year low 10-year high
EV/Sales against its own 10 years 6.53%
10-year low 10-year high
EV/FCF against its own 10 years 44.02%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.62%
Annual rate
4.40
Payout ratio
—
Growth, 2017–25
+5.33%/yr
  1. 2.68 ’17
  2. 2.84 ’18 +6
  3. 3.00 ’19 +6
  4. 3.16 ’20 +5
  5. 3.32 ’21 +5
  6. 3.52 ’22 +6
  7. 3.72 ’23 +6
  8. 3.76 ’24 +1
  9. 4.06 ’25 +8
  10. 4.46 ’26e +10
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 43 57 636 699
Receivables — — — —
Inventory — — — —
Other — — — —
521 538 1,011 1,026
2023 2024 2025 Q'26
Payables 314 266 228 219
ST’ Debt — — — —
Other — — — —
314 266 228 219

Compound Annual Growth %

10y 5y 3y
Sales 13.08% 10.52% (8.08%)
Cash Flow 16.84% 9.73% 5.55%
Earnings 25.78% 59.56% 77.84%
Book Value 16.91% 4.46% (3.25%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.30 Actual 2.35

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.37 1.40 Beat by 0.03
Q1 FY26 1.31 1.40 Beat by 0.09
Q2 FY26 1.76 1.84 Beat by 0.08
Q3 FY26 2.30 2.35 Beat by 0.05
Q4 FY26 1.54 — Reports 23 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.07) (8.08) 1.04 — —
’25 (0.34) 10.02 0.07 0.99 10.84
’24 (0.22) 0.42 2.31 (1.77) 0.71
’23 (0.38) (1.68) 0.97 (0.65) (1.72)
’22 0.01 0.61 1.32 0.04 2.00
’21 0.23 0.98 2.00 0.11 3.36
’20 (0.17) 0.61 0.83 0.07 1.34
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 508 — 558 — —
’25 470 496 556 784 2,306
’24 469 596 680 515 2,261
’23 651 863 983 727 2,284
’22 549 814 933 674 2,970
’21 442 604 684 542 2,273
’20 310 303 401 384 1,398
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 269 266 155 — —
’25 244 256 198 167 864
’24 243 311 189 118 861
’23 195 255 223 118 791
’22 226 306 158 45 735
’21 221 250 185 98 754
’20 119 184 162 79 543
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 164 203 185 — —
’25 222 233 130 (3) 582
’24 187 202 394 51 834
’23 (92) 11 22 132 74
’22 68 140 (51) (199) (43)
’21 (55) (325) 803 (1,714) (1,292)
’20 (26) 5 (123) (1,729) (1,873)
Fiscal quarters ending in the months shown.

Valuation

The price implies FFO a share growing 3.5% a year for ten years. It grew 7.2% a year over the last ten.

Implied
3.5%
10 years, reported
7.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 834 983 1,127 1,264 1,398 2,273 2,970 2,284 2,261 2,306 2,406 +12.0% 1,971 2,061 2,148 (2.3%)
Gross margin, % 61.34 61.34 61.02 60.12 60.24 64.74 64.25 58.09 57.49 57.90 58.51 (3.4) pt
EBT 36 73 130 140 136 285 308 (193) (153) (228) 4 n/m
EBT margin, % 4.31 7.40 11.50 11.06 9.70 12.53 10.38 (8.45) (6.77) (9.90) 0.17 (14.2) pt
Net income 31 82 120 177 147 414 264 (209) 107 1,430 1,231 +52.8%
Per share, $
Per share, $ Revenue 12.66 12.91 13.85 14.29 14.34 20.18 24.71 18.51 18.16 18.46 19.92 +4.3%
Earnings 0.27 0.85 1.29 1.80 1.34 3.36 2.00 (1.71) 0.71 10.84 (6.08) +50.7%
Cash flow 3.67 3.39 4.46 5.39 5.57 6.69 6.11 6.41 6.92 6.92 7.09 +7.3%
Capex (24.56) (5.26) (4.10) (11.09) (24.78) (18.17) (6.47) (5.81) (0.21) (2.26) (2.55) (23.3%)
Free cash flow (20.90) (1.87) 0.36 (5.70) (19.21) (11.47) (0.35) 0.60 6.70 4.66 4.55 n/m
Book value 36.63 35.44 39.58 43.82 60.43 62.34 67.32 60.24 59.86 58.67 45.34 +5.4%
Shares, m 66 76 81 88 98 113 120 123 125 125 123 +7.4%
Valuation, ×
Valuation, × P/E 281.96 107.88 78.24 83.39 113.40 63.24 70.67 0.00 163.96 11.54 0.00 97.4
P/S 6.01 7.10 7.35 10.50 10.60 10.40 5.66 5.19 6.77 6.71 6.11 7.6
P/B 2.12 2.62 2.60 3.43 2.51 3.37 2.08 2.25 2.05 2.11 2.68 2.5
EV/Sales 9.68 10.18 9.96 13.06 13.84 12.78 8.01 7.58 10.00 8.29 7.39 10.3
EV/FCF (5.86) (70.28) 379.38 (32.77) (10.33) (22.49) (558.64) 331.86 27.10 32.86 32.37 7.1
Cash, $m
Cash, $m Operating cash flow 241 258 363 477 543 754 735 791 861 864 857 +15.2%
Capex (1,618) (400) (334) (981) (2,416) (2,045) (777) (717) (27) (282) (308) (17.6%)
Free cash flow (1,376) (142) 30 (504) (1,873) (1,292) (43) 74 834 582 549 n/m
Balance, $m
Balance, $m Working capital 233 302 272 160 291 497 439 207 273 783 807 +14.4%
Net debt 3,056 3,028 2,940 3,235 4,540 5,407 6,980 7,735 7,296 3,623 3,077 +1.9%
Shareholders’ equity 2,412 2,696 3,221 3,876 5,892 7,020 8,091 7,434 7,453 7,329 5,478 +13.1%
Returns, %
Returns, % ROA 0.35 1.09 1.65 2.21 1.38 3.08 1.58 (1.25) 0.53 9.36 2.14 +9.0 pt
ROIC 1.82 2.28 2.69 2.59 1.64 2.29 2.28 0.58 1.12 2.76 3.82 +0.9 pt
ROE 0.89 2.59 3.60 4.54 2.69 5.89 3.20 (2.75) 1.20 18.42 3.78 +17.5 pt
People
People Employees 2,679 2,727 2,784 3,146 4,872 5,961 7,594 6,780 6,590 3,614 — +3.4%
Revenue/emp, $m 0.31 0.36 0.40 0.40 0.29 0.38 0.39 0.34 0.34 0.64 — +8.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Sun Communities is a real estate investment trust, or REIT, that owns and operates manufactured housing and recreational vehicle communities. It is headquartered in Southfield, Michigan. Charles D. Young is its chief executive officer.

A manufactured housing community is a residential subdivision where residents place factory-built homes on individual sites. An RV community provides sites for recreational vehicles for varying lengths of time and, in some cases, vacation rental homes. Sun generally owns the land and infrastructure and leases individual sites to residents and guests. It also sells and leases new and pre-owned homes through Sun Home Services, a taxable REIT subsidiary.

Where the money comes from and where it goes Fiscal 2022

Fiscal 2022: revenue by segment, and margins
MH 1,138 38.33%
Marina 789 26.55%
RV 707 23.81%
UK 336 11.30%
Gross margin 64.25%
Operating margin 18.51%
Pre-tax margin 10.38%

Revenue by segment since 2009

Sun Communities, 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. $18.1B 49.3× 46.4× +4.10% (above 0%: growing) −36.97% (below 0%: shrinking) −5.14% (below 0%: shrinking) 66.94% 31.82% Compare
INVH Invitation Home $15.9B 24.0× 30.4× +6.26% (above 0%: growing) +22.91% (above 0%: growing) +239.04% (above 0%: growing) 54.14% 21.76% Compare
SUI Sun Communities, Inc. $14.6B — (loss-making) — (loss-making) +12.56% (above 0%: growing) +1,411.29% (above 0%: growing) +42.90% (above 0%: growing) 63.45% 28.16%
MAA Mid-America Apartment Communities, Inc. $14.5B 36.5× 32.1× +1.04% (above 0%: growing) −11.86% (below 0%: shrinking) +81.71% (above 0%: growing) 57.07% 24.91% Compare
CPT Camden Property Trust $14.0B 34.2× 66.4× −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. $12.7B 31.0× 28.8× +4.22% (above 0%: growing) −10.00% (below 0%: shrinking) +33.46% (above 0%: growing) 52.10% 33.35% Compare
UDR United Dominion Realty Trust, Inc. $12.5B 16.9× 30.1× −0.88% (below 0%: shrinking) +500.08% (above 0%: growing) −180.36% (below 0%: shrinking) 62.20% 63.12% Compare
AMH American Homes 4 Rent $11.9B 27.0× 32.4× +4.10% (above 0%: growing) −14.81% (below 0%: shrinking) −25.98% (below 0%: shrinking) 0.00% 0.00% Compare
JAN Janus Living, Inc. $9.5B — (loss-making) — +78.32% (above 0%: growing) n/m +592.48% (above 0%: growing) 27.91% (4.66%) Compare
Median of peers $13.4B 31.0× 32.1× +4.10% −11.86% +14.16% 55.60% 23.34%

All 20 Reit Residential stocks →

From the latest earnings call

Updated

  • CEO Charles Young said Sun used proceeds from its UK business sale for share repurchases and debt repayment while pursuing growth opportunities.
  • President John McClaren said annual RV retention improved, while Sun was using data to manage its mix of sites and control expenses.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 101.56%
Held by the ten largest 67.11%
Holder Shares Stake Change
Vanguard 16.95m 13.92% +171.16k
BlackRock 13.76m 11.30% +1.08m
COHEN & STEERS, INC. 13.40m 11.00% +1.34m
Dodge & Cox 9.50m 7.80% −4.77m
Norges Bank 5.44m 4.47% +5.44m
Wellington Management 5.39m 4.43% −452.80k
T. Rowe Price 5.39m 4.42% −140.40k
State Street 5.01m 4.11% −204.43k
Fidelity (FMR) 4.57m 3.75% −418.35k
Geode Capital Management 2.34m 1.92% −45.43k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 30 March 2026

Ownership

Directors and executive officers, together 1.58%
The Vanguard Group100 Vanguard Blvd.Malvern, PA 14.24%
Dodge & Cox555 California Street 11.52%
Cohen & Steers, Inc.Cohen & Steers Capital Management, Inc.1166 Avenue of the Americas, 9.08%
BlackRock, Inc.50 Hudson YardsNew York, NY 8.06%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Sun Communities, Inc. (SUI) Latest News

5 Nov

Impact 3 · · The Motley Fool

27 Oct

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

22 Sep

Impact 4 · · GlobeNewswire

27 Aug

Impact 3 · · multifamilydive.com

14 Aug

Impact 3 ·

29 Jul

Impact 3 · · Moby transcript

28 Jul

Impact 4 · transcript
Impact 3 · · MarketBeat transcript

27 Jul

Impact 3 ·

22 May

Impact 4 · · Zacks

21 May

Impact 4 · · GlobeNewswire

30 Apr

Impact 4 · · Simply Wall St.

29 Apr

Impact 4 · · GuruFocus.com

28 Apr

Impact 3 · · MarketBeat

27 Apr

Impact 3 ·

13 Apr

Impact 3 · · Simply Wall St.

1 Apr

Impact 3 · · Simply Wall St.

28 Feb

Impact 3 · · MarketBeat

26 Feb

Impact 4 · · Simply Wall St.Simply Wall St.
Impact 4 · · Moby

25 Feb

Impact 4 · · GuruFocus.com

24 Feb

Impact 4 · · Zacks
Impact 4 · · GlobeNewswire

18 Feb

Impact 4 · · Simply Wall St.

17 Feb

Impact 4 · · GlobeNewswire

4 Feb

Impact 3 · · GlobeNewswire

1 Feb

Impact 3 · · Simply Wall St.

17 Jan

Impact 4 · · MarketBeat

10 Jan

Impact 3 ·

SUI metrics, ten years each

stockrow.com/SUI · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com