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Thursday 5 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

120.91 5.61 +4.87%
Market cap
$14.5B
P/E
0.0×
Fwd P/E
−17.4×
Dividend yield
3.64%
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

Sun Communities, Inc. (SUI) valuation and DCF model

What the price implies · reverse DCF

At $120.91 the price implies FFO a share growing 3.4% a year for ten years.

FFO a share grew 7.2% a year over the last ten years, 6.6% over the last five. The price asks for less than its ten-year rate. The industry’s median company is priced for 2.8%.

In December 2017 the price assumed 9.8% a year; Sun Communities, Inc. went on to grow FFO a share 6.5% a year to FY2025.

Q3 2026’s FFO a share is the $2.27 Sun Communities, Inc. reported, in its results release.

Price implies
3.4%
Last 5 years, reported
6.6%
Last 10 years, reported
7.2%
Industry median implies
2.8%

The headline discounts the last twelve months’ FFO a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
3.4% a year for ten years
$120.91
today’s price
Its base case
7.2% a year for five years, then 4.3%
$145.67
20.5% above today’s price

Both are growth in FFO a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Sun Communities, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · FFO a share
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in FFO a share. It usually slows as the company matures.

Today’s price implies FFO a share growing 3.4% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Sun Communities, Inc.’s own cost of capital: risk-free 4.3% + beta 0.76 × equity premium 4.5% = 7.7% cost of equity; weighted, 7.7%.

Use 7.7%
Base case value per share $145.67 ten years discounted, and what follows
Current price $120.91 market price per share
Above today’s price 20.5% upside at the base case’s assumptions

How we got there$62.72 10 years of FFO+$82.96 terminal value=$145.67 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Reit Residential).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E — 84.56× 108.25× — 26.83× —
P/FCF 26.59× 115.68× 115.68× 77% below 23.00× 16% above
P/B 2.67× 2.23× 2.57× 4% above 1.73× 54% above
EV/EBITDA 33.86× 74.95× 65.55× 48% below 15.65× 116% above
EV/Sales 7.35× 8.25× 10.11× 27% below 7.85× 6% below
P/FFO 16.93× 23.25× 26.00× 35% below — —
P/E P/FCF P/B EV/EBITDA EV/Sales P/FFO
44.23×83.44×122.66×161.88×10Y avg 65.55×2017201820192020202120222023202420252026

SUI trades at 33.86× EV/EBITDA, against a 10-year average of 65.55× (range 33.86×–172.85×). That is cheaper than 100% of the last 9 year-end readings; re-rating to the average implies $257.22 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.