| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 1 | 1 | — | 1 | 1 | — | 1 | 1 | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 4.47 |
—
—
—
|
| 2025 | 8.04 |
—
—
—
—
—
|
| 2024 | 3.76 |
—
—
—
—
|
| 2023 | 3.72 |
—
—
—
—
|
| 2022 | 3.52 |
—
—
—
—
|
| 2021 | 3.32 |
—
—
—
—
|
| 2020 | 3.16 |
—
—
—
—
|
| 2019 | 3.00 |
—
—
—
—
|
| 2018 | 2.84 |
—
—
—
—
|
| 2017 | 2.68 |
—
—
—
—
|
| 2016 | 2.60 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 42.70 | 57.10 | 636.10 | 165.20 |
| Receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 520.50 | 538.40 | 1,011.40 | 486.80 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 313.70 | 265.80 | 228.10 | 193.30 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 313.70 | 265.80 | 228.10 | 193.30 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 507.90 | — | — | — |
—
|
| ’25 | 470.20 | 495.90 | 697.20 | 642.80 |
2,306.10
|
| ’24 | 469.20 | 596.30 | 680.40 | 514.60 |
2,260.50
|
| ’23 | 651.20 | 863.40 | 983.30 | (213.80) |
2,284.10
|
| ’22 | 548.50 | 814.30 | 932.60 | 674.30 |
2,969.70
|
| ’21 | 442.00 | 603.90 | 684.30 | 542.40 |
2,272.60
|
| ’20 | 310.30 | 303.27 | 400.51 | 384.22 |
1,398.30
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 269.30 | 265.90 | — | — |
—
|
| ’25 | 243.90 | 256.00 | 197.80 | 166.50 |
864.20
|
| ’24 | 242.50 | 311.30 | 189.20 | 118.00 |
861.00
|
| ’23 | 194.50 | 255.40 | 223.00 | 117.60 |
790.50
|
| ’22 | 225.70 | 306.30 | 157.80 | 45.10 |
734.90
|
| ’21 | 220.50 | 250.20 | 185.30 | 97.60 |
753.60
|
| ’20 | 118.51 | 183.51 | 162.43 | 78.84 |
543.30
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 163.70 | 203.10 | — | — |
—
|
| ’25 | 222.40 | 232.80 | 70.60 | 56.30 |
582.10
|
| ’24 | 186.70 | 201.80 | 394.40 | 51.40 |
834.30
|
| ’23 | (91.60) | 11.20 | 21.80 | 132.30 |
73.70
|
| ’22 | 67.80 | 140.30 | (51.20) | (199.50) |
(42.60)
|
| ’21 | (55.40) | (324.90) | 802.70 | (1,714.20) |
(1,291.80)
|
| ’20 | (26.07) | 4.98 | (122.78) | (1,729.32) |
(1,873.20)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.07) | (8.08) | — | — |
—
|
| ’25 | (0.34) | 10.02 | 0.07 | 0.99 |
10.84
|
| ’24 | (0.22) | 0.42 | 2.31 | (1.77) |
0.71
|
| ’23 | (0.24) | 0.72 | 1.31 | (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
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 117.63 | 102.74 | 110.98 | 109.22 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 210.48 | 163.83 | 147.83 | 137.77 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,594 | 6,780 | 6,590 | 3,614 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.39 | 0.34 | 0.34 | 0.64 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,969.70 | 2,284.10 | 2,260.50 | 2,306.10 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 64.25% | 58.09% | 57.49% | 57.90% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 308.40 | (193.10) | (153.10) | (228.20) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.38% | (8.45%) | (6.77%) | (9.90%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 263.80 | (209.10) | 107.10 | 1,430.20 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 576.10 | 864.00 | 671.30 | 507.90 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.71 | 18.51 | 18.16 | 18.46 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 2.00 | (1.71) | 0.71 | 10.84 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.11 | 6.41 | 6.92 | 6.92 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (6.47) | (5.81) | (0.21) | (2.26) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.35) | 0.60 | 6.70 | 4.66 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 67.32 | 60.24 | 59.86 | 58.67 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 120.20 | 123.40 | 124.50 | 124.90 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 70.67 | 118.88 | 163.96 | 11.54 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.66 | 7.32 | 6.77 | 6.71 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.08 | 2.25 | 2.05 | 2.11 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.02 | 10.71 | 10.00 | 8.30 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (558.99) | 331.91 | 27.10 | 32.87 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 734.90 | 790.50 | 861.00 | 864.20 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (777.50) | (716.80) | (26.70) | (282.10) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (42.60) | 73.70 | 834.30 | 582.10 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 438.70 | 206.80 | 272.60 | 783.30 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,212.20 | 7,777.30 | 7,352.80 | 4,258.70 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,994.50 | 7,734.60 | 7,295.70 | 3,622.60 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8,091.40 | 7,433.90 | 7,452.60 | 7,328.50 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.58% | (1.25%) | 0.53% | 9.36% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.28% | 0.58% | 1.12% | 2.76% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.20% | (2.75%) | 1.20% | 18.42% | ‡‡‡‡‡ | — | — |
ROE
|
Sun Communities (SUI), a REIT dominating manufactured home communities and RV resorts, has delivered explosive growth—revenue surging 286% from $834 million in 2016 to $3.22 billion in 2024 via bold acquisitions like the 2021 Safanad merger. Yet, this expansion bred volatility: profitability flipped from a $209 million loss in 2023 to a slim $107 million profit in 2024, while shares plunged 30% from 2021 highs of $211 amid soaring rates that hammered REIT leverage. Resilient gross margins at 64.9% and recession-proof demand for affordable housing underscore its moat, but operational digestion and buyer squeeze from high mortgage rates loom as hidden drags.
Cash flows tell a brighter rebound tale—free cash flow swung positive to $652 million in 2024 (up 565% YoY), with debt stabilizing at $7.35 billion and ROE ticking up to 1.2%. Forward metrics scream value: PE crashing to 13x on 2025 EPS forecasts (a 1,337% surge), PS at 4.75x, and EV/FCF at 35x versus historical peaks. Revenue may dip 29% in 2025 before mid-single-digit growth resumes, fueled by millennial demand and potential rate cuts.
SUI’s setup mirrors post-GFC REIT recoveries—positive FCF funds dividends (3-4% yield), with analyst targets implying 7-15% upside from current levels. But watch debt service in a high-rate trap and insider net-selling; for contrarians eyeing undervalued growth beasts, it’s a high-conviction hold with 10-20% total return potential if occupancy snaps back.
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