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Equity Lifestyle Properties (ELS) Financials

Equity Lifestyle Properties logo
$63.06 +0.54 (+0.87%)
Closing price 06/18/2025 03:59 PM Eastern
Extended Trading
$63.07 +0.01 (+0.01%)
As of 06/18/2025 05:10 PM Eastern
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Annual Income Statements for Equity Lifestyle Properties

Annual Income Statements for Equity Lifestyle Properties

This table shows Equity Lifestyle Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 130 164 190 213 279 228 262 285 314 367
Consolidated Net Income / (Loss)		 151 187 210 226 296 241 276 299 330 385
Net Income / (Loss) Continuing Operations		 151 187 210 226 296 241 276 299 330 385
Total Pre-Tax Income 		146 185 207 221 287 236 272 295 316 378
Total Revenue		 822 768 925 987 933 1,119 1,316 1,447 1,486 1,524
Net Interest Income / (Expense)		 0.00 -102 0.00 0.00 -104 0.00 0.00 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 102 0.00 0.00 104 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 822 870 925 987 1,037 1,119 1,316 1,447 1,486 1,524
Other Service Charges		 84 89 48 52 43 46 50 56 67 75
Net Realized & Unrealized Capital Gains on Investments		 - - 5.80 11 9.53 4.03 4.50 8.55 5.12 5.81
Other Non-Interest Income		 734 782 872 924 985 1,069 1,262 1,382 1,413 1,443
Total Non-Interest Expense		 675 584 719 765 646 883 1,044 1,152 1,169 1,145
Net Occupancy & Equipment Expense		 306 275 301 320 334 354 399 443 470 480
Marketing Expense		 10 11 11 12 14 16 19 20 21 22
Other Operating Expenses		 137 177 183 191 198 255 329 369 342 301
Depreciation Expense		 114 117 124 137 152 155 188 202 204 204
Other Special Charges		 106 - 101 105 -53 103 109 117 132 138
Income Tax Expense		 - - - - - - 0.00 0.00 -10 -0.35
Other Gains / (Losses), net		 4.09 2.60 3.77 4.94 8.76 5.40 3.88 3.36 2.71 6.25
Preferred Stock Dividends Declared		 9.23 18 - 0.02 0.02 0.02 0.02 0.03 0.02 0.03
Net Income / (Loss) Attributable to Noncontrolling Interest		 11 - - - - 13 14 14 15 18
Basic Earnings per Share		 - $1.93 $1.09 $1.19 $1.54 $1.26 $1.43 $1.53 $1.69 $1.96
Weighted Average Basic Shares Outstanding		 84.03M 84.78M 173.99M 177.93M 180.81M 181.83M 182.92M 185.78M 186.06M 187.44M
Diluted Earnings per Share		 - $1.92 $1.08 $1.19 $1.54 $1.25 $1.43 $1.53 $1.69 $1.96
Weighted Average Diluted Shares Outstanding		 91.91M 92.57M 186.85M 190.11M 192.00M 192.56M 192.88M 195.26M 195.43M 196.64M
Weighted Average Basic & Diluted Shares Outstanding		 84M 85M 87.10M -10.63B 182.13M 182.30M 185.94M 186.18M 186.49M 191.14M
Cash Dividends to Common per Share		 $1.50 - - $0.49 - - - $1.64 $1.79 $1.91

Quarterly Income Statements for Equity Lifestyle Properties

This table shows Equity Lifestyle Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 67 73 82 63 77 92 110 78 83 96 109
Consolidated Net Income / (Loss)		 71 77 86 66 81 96 115 82 87 101 114
Net Income / (Loss) Continuing Operations		 71 77 86 66 81 96 115 82 87 101 114
Total Pre-Tax Income 		69 76 86 65 80 85 115 82 81 101 109
Total Revenue		 377 344 335 337 388 426 387 380 385 372 335
Net Interest Income / (Expense)		 0.00 - -33 -33 0.00 66 0.00 0.00 0.00 - -31
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 0.00 - 33 33 0.00 -66 0.00 0.00 0.00 - 31
Other Interest Expense		 - - 33 33 - - - - - - 31
Total Non-Interest Income		 377 344 367 370 388 361 387 380 385 372 366
Other Service Charges		 16 13 18 18 16 16 16 16 16 27 16
Net Realized & Unrealized Capital Gains on Investments		 -1.35 5.38 -0.54 2.47 1.38 1.81 2.04 2.63 0.39 0.75 2.02
Other Non-Interest Income		 363 326 350 350 371 343 369 361 369 344 349
Total Non-Interest Expense		 308 268 249 272 308 341 272 298 304 271 227
Net Occupancy & Equipment Expense		 123 102 112 122 127 108 115 126 129 111 119
Marketing Expense		 5.94 4.60 4.84 5.52 5.70 4.92 5.30 6.13 6.45 4.19 3.93
Other Operating Expenses		 97 81 81 93 91 78 67 79 82 74 53
Depreciation Expense		 53 50 51 51 51 51 51 51 51 50 51
Other Gains / (Losses), net		 1.47 0.47 0.52 0.97 0.66 0.56 0.28 0.58 5.87 -0.49 4.90
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 - - 4.09 - - - - - - - 5.20
Basic Earnings per Share		 $0.36 $0.39 $0.44 $0.34 $0.41 $0.50 $0.59 $0.42 $0.44 $0.51 $0.57
Weighted Average Basic Shares Outstanding		 185.81M 185.78M 185.90M 186.02M 186.10M 186.06M 186.29M 186.32M 186.33M 187.44M 190.93M
Diluted Earnings per Share		 $0.36 $0.39 $0.44 $0.34 $0.41 $0.50 $0.59 $0.42 $0.44 $0.51 $0.57
Weighted Average Diluted Shares Outstanding		 195.27M 195.26M 195.37M 195.43M 195.44M 195.43M 195.55M 195.47M 195.51M 196.64M 200.07M
Weighted Average Basic & Diluted Shares Outstanding		 186.11M 186.18M 186.21M 186.28M 186.39M 186.49M 186.50M 186.52M 191.05M 191.14M 191.19M

Annual Cash Flow Statements for Equity Lifestyle Properties

This table details how cash moves in and out of Equity Lifestyle Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 6.54 -25 -26 33 -40 -4.80 99 -101 7.59 -5.36
Net Cash From Operating Activities		 353 352 378 414 444 417 509 476 548 597
Net Cash From Continuing Operating Activities		 353 352 369 414 416 417 509 476 547 597
Net Income / (Loss) Continuing Operations		 151 187 210 226 296 241 276 299 330 385
Consolidated Net Income / (Loss)		 151 187 210 226 296 241 276 299 330 385
Depreciation Expense		 115 119 125 139 154 158 191 207 209 209
Amortization Expense		 2.71 3.87 1.34 1.31 3.00 3.08 4.35 4.66 4.86 5.23
Non-Cash Adjustments to Reconcile Net Income		 21 1.44 15 -5.58 -72 11 3.42 -34 37 -26
Changes in Operating Assets and Liabilities, net		 63 42 27 53 36 4.32 34 -0.40 -33 23
Net Cash From Investing Activities		 -121 -219 -305 -398 -352 -401 -828 -402 -325 -218
Net Cash From Continuing Investing Activities		 -121 -219 -305 -398 -274 -401 -828 -402 -325 -218
Purchase of Property, Leasehold Improvements and Equipment		 -94 -119 -126 -182 -258 -168 -204 -249 -317 -241
Purchase of Investment Securities		 -28 -103 -170 -239 -109 -239 -629 -166 -19 -12
Sale and/or Maturity of Investments		 10 1.15 3.63 22 86 0.12 2.05 -3.39 5.31 20
Other Investing Activities, net		 -9.71 3.07 -13 0.40 6.35 5.65 3.15 17 5.63 15
Net Cash From Financing Activities		 -226 -158 -99 17 -132 -21 419 -175 -216 -384
Net Cash From Continuing Financing Activities		 -226 -158 -99 17 -132 -21 419 -175 -216 -384
Issuance of Debt		 395 88 481 676 316 1,115 1,430 806 985 590
Issuance of Common Equity		 4.90 63 128 85 62 2.03 142 31 1.98 319
Repayment of Debt		 -480 -144 -384 -536 -278 -876 -872 -697 -858 -919
Payment of Dividends		 -142 -161 -182 -203 -229 -257 -276 -311 -343 -368
Other Financing Activities, Net		 -3.63 -3.55 -5.03 -4.61 -1.40 -4.64 -5.07 -4.34 -2.21 -5.96
Cash Interest Paid		 106 106 103 102 102 101 104 112 130 140

Quarterly Cash Flow Statements for Equity Lifestyle Properties

This table details how cash moves in and out of Equity Lifestyle Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 -12 -8.16 8.31 -2.55 32 -30 17 -12 4.74 -16 23
Net Cash From Operating Activities		 101 71 159 108 152 129 199 143 150 105 193
Net Cash From Continuing Operating Activities		 101 71 159 107 152 129 199 143 150 105 193
Net Income / (Loss) Continuing Operations		 71 77 86 66 81 96 115 82 87 101 114
Consolidated Net Income / (Loss)		 71 77 86 66 81 96 115 82 87 101 114
Depreciation Expense		 54 51 52 53 52 52 52 53 52 52 52
Amortization Expense		 1.17 1.17 1.18 1.18 1.22 1.28 1.29 1.30 1.41 1.24 1.24
Non-Cash Adjustments to Reconcile Net Income		 11 -57 9.00 30 -6.85 4.71 -13 7.36 -19 -1.88 -4.60
Changes in Operating Assets and Liabilities, net		 -35 -0.40 10 -43 24 -25 43 -0.38 28 -47 30
Net Cash From Investing Activities		 -65 -86 -66 -87 -84 -87 -51 -53 -47 -66 -42
Net Cash From Continuing Investing Activities		 -65 -86 -66 -87 -84 -87 -51 -53 -47 -66 -42
Purchase of Property, Leasehold Improvements and Equipment		 -56 -63 -61 -88 -82 -86 -55 -63 -58 -66 -45
Purchase of Investment Securities		 -11 -31 -11 -1.94 -2.90 -3.22 -1.33 -2.55 -5.45 -2.35 -8.69
Sale and/or Maturity of Investments		 - -4.79 4.07 1.24 - - 3.16 11 5.14 0.77 4.17
Other Investing Activities, net		 1.81 13 1.01 1.57 1.15 1.90 1.59 1.12 11 1.30 7.40
Net Cash From Financing Activities		 -48 7.03 -84 -23 -36 -72 -130 -101 -97 -55 -128
Net Cash From Continuing Financing Activities		 -48 7.03 -84 -23 -36 -72 -130 -101 -97 -55 -128
Issuance of Debt		 119 165 118 277 476 114 133 89 162 206 186
Issuance of Common Equity		 0.46 0.38 0.36 0.50 0.74 0.38 0.38 0.38 0.39 318 0.39
Repayment of Debt		 -88 -78 -120 -213 -425 -99 -174 -97 -166 -482 -216
Payment of Dividends		 -80 -80 -80 -87 -87 -88 -88 -93 -93 -93 -96
Other Financing Activities, Net		 -0.10 -0.10 -2.03 -0.10 -0.12 0.04 -2.07 -0.32 -0.08 -3.50 -2.32
Cash Interest Paid		 28 30 32 32 33 33 34 37 37 33 32

Annual Balance Sheets for Equity Lifestyle Properties

This table presents Equity Lifestyle Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 3,400 3,479 3,610 3,926 4,151 4,419 5,308 5,493 5,614 5,646
Restricted Cash		 - - - 69 29 24 123 22 30 25
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 3,195 3,286 3,399 3,642 3,967 4,236 4,885 5,111 5,257 5,276
Other Assets		 94 105 144 215 156 159 299 359 326 345
Total Liabilities & Shareholders' Equity		 3,400 3,479 3,610 3,926 4,151 4,419 5,308 5,493 5,614 5,646
Total Liabilities		 2,408 2,397 2,510 2,732 2,829 3,114 3,822 3,975 4,115 3,822
Non-Interest Bearing Deposits		 74 77 79 81 91 93 119 122 126 122
Short-Term Debt		 - 0.00 30 0.00 160 0.00 349 198 31 77
Accrued Interest Payable		 8.72 8.38 8.39 8.76 8.64 8.34 9.29 12 13 11
Other Short-Term Payables		 110 129 - 155 184 196 243 255 239 255
Long-Term Debt		 2,126 2,091 2,170 2,348 2,248 2,445 2,925 3,190 3,488 3,128
Other Long-Term Liabilities		 88 91 212 139 137 151 176 198 218 229
Total Equity & Noncontrolling Interests		 993 1,082 1,100 1,193 1,322 1,305 1,486 1,517 1,499 1,824
Total Preferred & Common Equity		 925 1,009 1,032 1,122 1,250 1,234 1,415 1,445 1,429 1,741
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 925 1,009 1,032 1,122 1,250 1,234 1,415 1,445 1,429 1,741
Common Stock		 1,040 1,104 1,243 1,330 1,405 1,413 1,595 1,631 1,646 1,953
Accumulated Other Comprehensive Income / (Loss)		 -0.55 -0.23 0.94 2.30 -0.38 0.00 3.52 19 6.06 2.30
Other Equity Adjustments		 -114 -95 -212 -211 -154 -180 -184 -204 -224 -215
Noncontrolling Interest		 68 73 68 72 72 71 71 72 70 83

Quarterly Balance Sheets for Equity Lifestyle Properties

This table presents Equity Lifestyle Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 5,405 5,519 5,586 5,626 5,630 5,645 5,644 5,642
Restricted Cash		 31 31 28 60 47 36 40 47
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 5,057 5,148 5,194 5,224 5,256 5,261 5,264 5,272
Other Assets		 318 341 364 342 327 349 340 323
Total Liabilities & Shareholders' Equity		 5,405 5,519 5,586 5,626 5,630 5,645 5,644 5,642
Total Liabilities		 3,886 4,006 4,083 4,129 4,110 4,135 4,149 3,809
Non-Interest Bearing Deposits		 115 131 149 122 132 152 128 129
Short-Term Debt		 95 212 205 0.00 6.00 14 33 63
Accrued Interest Payable		 10 12 12 12 13 12 12 10
Other Short-Term Payables		 265 272 260 277 264 271 301 265
Long-Term Debt		 3,205 3,174 3,246 3,502 3,473 3,457 3,442 3,112
Other Long-Term Liabilities		 195 204 210 216 223 228 233 230
Total Equity & Noncontrolling Interests		 1,519 1,513 1,503 1,497 1,520 1,510 1,496 1,833
Total Preferred & Common Equity		 1,447 1,442 1,432 1,427 1,449 1,440 1,426 1,750
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,447 1,442 1,432 1,427 1,449 1,440 1,426 1,750
Common Stock		 1,628 1,632 1,640 1,643 1,646 1,648 1,650 1,953
Accumulated Other Comprehensive Income / (Loss)		 20 15 17 16 5.28 5.29 -4.76 0.67
Other Equity Adjustments		 -201 -205 -226 -232 -203 -213 -220 -204
Noncontrolling Interest		 72 72 71 70 71 70 70 83

Annual Metrics And Ratios for Equity Lifestyle Properties

This table displays calculated financial ratios and metrics derived from Equity Lifestyle Properties' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 5.77% -6.48% 20.42% 6.63% -5.43% 19.91% 17.66% 9.93% 2.68% 2.55%
EBITDA Growth		 6.42% 16.33% 8.47% 8.57% 22.88% -10.65% 17.90% 8.39% 4.59% 11.77%
EBIT Growth		 10.56% 26.02% 11.97% 7.18% 29.68% -17.81% 15.30% 8.58% 7.11% 19.51%
NOPAT Growth		 10.56% 26.02% 11.97% 7.18% 29.68% -17.81% 15.30% 8.58% 10.66% 15.78%
Net Income Growth		 8.70% 24.33% 12.42% 7.61% 30.72% -18.42% 14.33% 8.27% 10.32% 16.73%
EPS Growth		 0.00% 0.00% 12.42% 7.61% 29.41% -18.83% 14.40% 6.99% 10.46% 15.98%
Operating Cash Flow Growth		 23.50% -0.15% 7.27% 9.55% 7.11% -5.89% 21.95% -6.52% 15.17% 8.89%
Free Cash Flow Firm Growth		 126.35% -40.56% -38.78% -125.34% 587.95% 119.94% -440.87% 120.36% 43.10% 70.71%
Invested Capital Growth		 -2.27% 1.74% 4.00% 7.32% 5.33% 0.52% 26.95% 3.05% 2.28% 0.22%
Revenue Q/Q Growth		 1.39% -10.44% 14.61% 1.38% -6.29% 14.85% 2.89% -1.24% 15.42% -3.47%
EBITDA Q/Q Growth		 3.05% 1.64% 4.47% -0.12% 2.44% 1.97% 3.10% 1.69% 2.01% 2.64%
EBIT Q/Q Growth		 4.54% 1.45% 2.57% 2.29% 1.99% 3.31% 0.94% 2.95% 2.99% 4.29%
NOPAT Q/Q Growth		 4.54% 1.45% 2.57% 2.29% 1.99% 3.31% 0.94% 2.95% 6.40% 1.39%
Net Income Q/Q Growth		 3.80% 1.42% 2.73% 2.45% 1.63% 4.43% 0.17% 2.69% 6.37% 1.08%
EPS Q/Q Growth		 0.00% 0.00% 2.73% 2.45% 1.99% 4.17% 0.00% 2.68% 6.96% 0.51%
Operating Cash Flow Q/Q Growth		 2.40% 3.56% -0.82% 3.67% 1.11% -8.27% -0.22% 3.32% 11.99% -3.87%
Free Cash Flow Firm Q/Q Growth		 23.61% -19.01% -53.61% 72.16% -46.88% 2,071.99% -102.88% 251.59% 68.72% -8.83%
Invested Capital Q/Q Growth		 -0.85% 0.21% 3.25% 1.62% 4.16% -1.32% 7.37% 1.78% 0.36% 1.18%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 32.11% 39.94% 35.98% 36.63% 47.60% 35.47% 35.55% 35.05% 35.70% 38.91%
EBIT Margin		 17.82% 24.01% 22.33% 22.44% 30.78% 21.10% 20.67% 20.42% 21.30% 24.82%
Profit (Net Income) Margin		 18.32% 24.35% 22.74% 22.94% 31.72% 21.58% 20.97% 20.65% 22.19% 25.26%
Tax Burden Percent		 102.79% 101.41% 101.82% 102.23% 103.05% 102.29% 101.43% 101.14% 104.17% 101.75%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -3.31% -0.09%
Return on Invested Capital (ROIC)		 4.64% 5.87% 6.38% 6.47% 7.90% 6.31% 6.40% 6.11% 6.59% 7.54%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.83% 5.99% 6.56% 6.69% 8.27% 6.53% 6.53% 6.21% 6.67% 7.72%
Return on Net Nonoperating Assets (RNNOA)		 10.63% 12.18% 12.90% 13.27% 15.63% 12.07% 13.38% 13.78% 15.27% 15.63%
Return on Equity (ROE)		 15.27% 18.04% 19.28% 19.74% 23.53% 18.38% 19.78% 19.90% 21.86% 23.17%
Cash Return on Invested Capital (CROIC)		 6.94% 4.14% 2.46% -0.59% 2.71% 5.79% -17.36% 3.11% 4.34% 7.31%
Operating Return on Assets (OROA)		 4.28% 5.36% 5.83% 5.88% 7.11% 5.51% 5.60% 5.47% 5.70% 6.72%
Return on Assets (ROA)		 4.40% 5.44% 5.94% 6.01% 7.33% 5.63% 5.68% 5.53% 5.94% 6.84%
Return on Common Equity (ROCE)		 14.22% 16.82% 18.03% 18.54% 22.18% 17.38% 18.77% 18.95% 20.83% 22.10%
Return on Equity Simple (ROE_SIMPLE)		 16.27% 18.55% 20.39% 20.19% 23.68% 19.57% 19.50% 20.67% 23.08% 22.11%
Net Operating Profit after Tax (NOPAT)		 146 185 207 221 287 236 272 295 327 379
NOPAT Margin		 17.82% 24.01% 22.33% 22.44% 30.78% 21.10% 20.67% 20.42% 22.01% 24.85%
Net Nonoperating Expense Percent (NNEP)		 -0.19% -0.12% -0.18% -0.22% -0.37% -0.22% -0.14% -0.10% -0.08% -0.19%
SG&A Expenses to Revenue		 38.53% 37.22% 33.70% 33.61% 37.29% 33.07% 31.73% 32.03% 33.04% 32.98%
Operating Expenses to Revenue		 82.18% 75.99% 77.67% 77.56% 69.22% 78.90% 79.33% 79.58% 78.70% 75.18%
Earnings before Interest and Taxes (EBIT)		 146 185 207 221 287 236 272 295 316 378
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 264 307 333 361 444 397 468 507 530 593
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 4.98 5.12 6.51 6.84 9.20 8.60 10.66 7.87 8.94 7.31
Price to Tangible Book Value (P/TBV)		 4.98 5.12 6.51 6.84 9.20 8.60 10.66 7.87 8.94 7.31
Price to Revenue (P/Rev)		 5.61 6.72 7.26 7.77 12.32 9.48 11.46 7.86 8.60 8.35
Price to Earnings (P/E)		 35.40 31.46 35.36 36.07 41.19 46.46 57.47 39.95 40.66 34.67
Dividend Yield		 2.74% 2.81% 2.55% 2.58% 1.94% 2.35% 1.77% 2.68% 2.61% 2.87%
Earnings Yield		 2.82% 3.18% 2.83% 2.77% 2.43% 2.15% 1.74% 2.50% 2.46% 2.88%
Enterprise Value to Invested Capital (EV/IC)		 2.15 2.29 2.71 2.83 3.74 3.49 3.85 3.02 3.26 3.18
Enterprise Value to Revenue (EV/Rev)		 8.18 9.46 9.67 10.15 14.95 11.71 13.91 10.23 10.99 10.49
Enterprise Value to EBITDA (EV/EBITDA)		 25.47 23.68 26.88 27.72 31.40 33.00 39.13 29.20 30.79 26.97
Enterprise Value to EBIT (EV/EBIT)		 45.90 39.39 43.30 45.24 48.57 55.49 67.27 50.12 51.61 42.27
Enterprise Value to NOPAT (EV/NOPAT)		 45.90 39.39 43.30 45.24 48.57 55.49 67.27 50.12 49.96 42.23
Enterprise Value to Operating Cash Flow (EV/OCF)		 19.04 20.63 23.67 24.20 31.45 31.37 35.96 31.12 29.81 26.79
Enterprise Value to Free Cash Flow (EV/FCFF)		 30.69 55.85 112.29 0.00 141.57 60.44 0.00 98.48 75.90 43.52
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 2.14 1.93 2.00 1.97 1.82 1.87 2.20 2.23 2.35 1.76
Long-Term Debt to Equity		 2.14 1.93 1.97 1.97 1.70 1.87 1.97 2.10 2.33 1.71
Financial Leverage		 2.20 2.03 1.97 1.98 1.89 1.85 2.05 2.22 2.29 2.02
Leverage Ratio		 3.47 3.32 3.25 3.29 3.21 3.26 3.49 3.60 3.68 3.39
Compound Leverage Factor		 3.47 3.32 3.25 3.29 3.21 3.26 3.49 3.60 3.68 3.39
Debt to Total Capital		 68.17% 65.91% 66.67% 66.31% 64.56% 65.20% 68.78% 69.07% 70.13% 63.73%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.91% 0.00% 4.29% 0.00% 7.33% 4.04% 0.62% 1.53%
Long-Term Debt to Total Capital		 68.17% 65.91% 65.76% 66.31% 60.27% 65.20% 61.45% 65.03% 69.51% 62.20%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 2.17% 2.31% 2.06% 2.03% 1.93% 1.90% 1.49% 1.47% 1.39% 1.65%
Common Equity to Total Capital		 29.66% 31.78% 31.27% 31.67% 33.50% 32.90% 29.73% 29.47% 28.48% 34.62%
Debt to EBITDA		 8.06 6.81 6.61 6.50 5.42 6.16 7.00 6.68 6.63 5.41
Net Debt to EBITDA		 7.75 6.63 6.50 6.31 5.36 6.10 6.73 6.64 6.58 5.36
Long-Term Debt to EBITDA		 8.06 6.81 6.52 6.50 5.06 6.16 6.25 6.29 6.58 5.28
Debt to NOPAT		 14.52 11.33 10.65 10.60 8.39 10.36 12.03 11.47 10.76 8.47
Net Debt to NOPAT		 13.97 11.03 10.48 10.29 8.29 10.26 11.58 11.39 10.67 8.40
Long-Term Debt to NOPAT		 14.52 11.33 10.50 10.60 7.83 10.36 10.75 10.80 10.67 8.26
Noncontrolling Interest Sharing Ratio		 6.83% 6.79% 6.48% 6.10% 5.72% 5.45% 5.09% 4.77% 4.71% 4.60%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 219 130 80 -20 99 217 -739 150 215 367
Operating Cash Flow to CapEx		 376.21% 295.02% 299.87% 227.99% 171.91% 248.52% 249.20% 190.88% 172.83% 247.32%
Free Cash Flow to Firm to Interest Expense		 0.00 1.28 0.00 0.00 0.95 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 3.45 0.00 0.00 4.26 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 2.28 0.00 0.00 1.78 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.24 0.22 0.26 0.26 0.23 0.26 0.27 0.27 0.27 0.27
Fixed Asset Turnover		 0.26 0.24 0.28 0.28 0.25 0.27 0.29 0.29 0.29 0.29
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 3,119 3,173 3,300 3,542 3,730 3,750 4,760 4,905 5,017 5,028
Invested Capital Turnover		 0.26 0.24 0.29 0.29 0.26 0.30 0.31 0.30 0.30 0.30
Increase / (Decrease) in Invested Capital		 -73 54 127 242 189 19 1,011 145 112 11
Enterprise Value (EV)		 6,721 7,268 8,947 10,019 13,947 13,096 18,307 14,809 16,334 15,987
Market Capitalization		 4,607 5,160 6,714 7,668 11,496 10,604 15,085 11,371 12,775 12,724
Book Value per Share		 $10.97 $11.82 $11.75 $12.50 $6.86 $6.77 $7.70 $7.77 $7.67 $9.11
Tangible Book Value per Share		 $10.97 $11.82 $11.75 $12.50 $6.86 $6.77 $7.70 $7.77 $7.67 $9.11
Total Capital		 3,119 3,173 3,300 3,542 3,730 3,750 4,760 4,905 5,017 5,028
Total Debt		 2,126 2,091 2,200 2,348 2,408 2,445 3,274 3,388 3,519 3,205
Total Long-Term Debt		 2,126 2,091 2,170 2,348 2,248 2,445 2,925 3,190 3,488 3,128
Net Debt		 2,046 2,035 2,164 2,279 2,380 2,421 3,151 3,366 3,489 3,180
Capital Expenditures (CapEx)		 94 119 126 182 258 168 204 249 317 241
Net Nonoperating Expense (NNE)		 -4.09 -2.61 -3.77 -4.94 -8.76 -5.40 -3.88 -3.36 -2.71 -6.25
Net Nonoperating Obligations (NNO)		 2,126 2,091 2,200 2,348 2,408 2,445 3,274 3,388 3,519 3,205
Total Depreciation and Amortization (D&A)		 117 122 126 140 157 161 196 212 214 215
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.78 $0.00 $0.00 $1.20 $1.54 $1.26 $1.43 $0.00 $1.69 $1.96
Adjusted Weighted Average Basic Shares Outstanding		 168.06M 169.56M 173.99M 177.93M 180.81M 181.83M 182.92M 0.00 186.06M 187.44M
Adjusted Diluted Earnings per Share		 $0.77 $0.00 $0.00 $1.19 $1.54 $1.25 $1.43 $0.00 $1.69 $1.96
Adjusted Weighted Average Diluted Shares Outstanding		 183.81M 185.14M 186.85M 190.11M 192.00M 192.56M 192.88M 0.00 195.43M 196.64M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $1.54 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 169.19M 173.53M 177.47M 179.86M 182.13M 182.30M 185.94M 0.00 186.49M 191.14M
Normalized Net Operating Profit after Tax (NOPAT)		 177 129 215 229 164 237 267 288 314 361
Normalized NOPAT Margin		 21.48% 16.81% 23.24% 23.16% 17.61% 21.20% 20.25% 19.93% 21.14% 23.70%
Pre Tax Income Margin		 17.82% 24.01% 22.33% 22.44% 30.78% 21.10% 20.67% 20.42% 21.30% 24.82%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 1.81 0.00 0.00 2.76 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 1.81 0.00 0.00 2.76 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.64 0.00 0.00 0.28 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.64 0.00 0.00 0.28 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 94.19% 86.13% 86.67% 89.51% 77.46% 106.43% 99.90% 104.06% 103.91% 95.56%
Augmented Payout Ratio		 94.24% 86.25% 86.67% 89.51% 77.46% 106.43% 99.90% 104.06% 103.91% 95.56%

Quarterly Metrics And Ratios for Equity Lifestyle Properties

This table displays calculated financial ratios and metrics derived from Equity Lifestyle Properties' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.64% -5.00% -7.07% -7.78% 2.82% 23.81% 15.49% 12.80% -0.62% -12.83% -13.27%
EBITDA Growth		 3.89% 7.02% 0.51% 2.26% 7.63% 8.14% 21.22% 13.86% 0.85% 11.00% -3.94%
EBIT Growth		 -5.73% 12.48% -1.09% 2.75% 15.98% 12.05% 33.53% 25.31% 1.14% 18.21% -5.52%
NOPAT Growth		 -5.73% 12.48% -1.09% 2.75% 15.98% 25.81% 33.81% 25.31% 1.14% 5.39% -5.52%
Net Income Growth		 -4.84% 11.38% -0.68% 2.26% 14.51% 25.76% 33.32% 24.34% 7.58% 4.28% -0.76%
EPS Growth		 -5.26% 8.33% -2.22% 3.03% 13.89% 28.21% 34.09% 23.53% 7.32% 2.00% -3.39%
Operating Cash Flow Growth		 -18.71% 27.56% 2.81% -27.68% 49.80% 82.98% 25.01% 32.72% -1.52% -18.58% -2.70%
Free Cash Flow Firm Growth		 43.40% 92.70% 62.58% 77.69% 68.58% 76.94% 113.71% 154.41% 210.91% 665.60% 504.21%
Invested Capital Growth		 8.71% 3.05% 4.38% 3.43% 3.73% 2.28% 2.01% 0.56% -0.59% 0.22% 0.19%
Revenue Q/Q Growth		 3.26% -8.71% 46.94% 0.65% 15.13% 9.92% -9.33% -1.69% 1.43% -3.58% -9.79%
EBITDA Q/Q Growth		 6.59% 3.41% 8.28% -14.32% 12.19% 3.90% 21.37% -19.52% -0.62% 14.36% 5.18%
EBIT Q/Q Growth		 9.01% 10.37% 12.77% -24.27% 23.06% 6.62% 34.39% -28.93% -0.69% 24.62% 7.64%
NOPAT Q/Q Growth		 9.01% 10.37% 12.77% -24.27% 23.06% 19.72% 34.67% -29.08% -0.69% 24.76% 7.52%
Net Income Q/Q Growth		 9.16% 8.75% 12.76% -23.61% 22.24% 19.43% 19.54% -28.75% 5.77% 15.77% 13.76%
EPS Q/Q Growth		 9.09% 8.33% 12.82% -22.73% 20.59% 21.95% 18.00% -28.81% 4.76% 15.91% 11.76%
Operating Cash Flow Q/Q Growth		 -32.03% -30.26% 124.89% -32.16% 40.79% -14.81% 53.65% -27.98% 4.47% -29.57% 83.63%
Free Cash Flow Firm Q/Q Growth		 28.60% 78.28% -73.49% 17.08% -0.58% 84.06% 162.11% 229.13% 105.02% -18.72% 10.16%
Invested Capital Q/Q Growth		 0.62% 1.78% -0.12% 1.11% 0.92% 0.36% -0.38% -0.33% -0.24% 1.18% -0.41%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 32.90% 37.27% 41.52% 35.34% 34.44% 32.56% 43.58% 35.68% 34.95% 41.46% 48.34%
EBIT Margin		 18.30% 22.13% 25.67% 19.32% 20.65% 20.03% 29.68% 21.46% 21.01% 27.16% 32.41%
Profit (Net Income) Margin		 18.69% 22.27% 25.83% 19.61% 20.82% 22.62% 29.82% 21.61% 22.54% 27.06% 34.12%
Tax Burden Percent		 102.12% 100.62% 100.61% 101.50% 100.83% 112.93% 100.45% 100.71% 107.25% 99.63% 105.29%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% -12.28% -0.21% 0.00% 0.00% -0.11% 0.00%
Return on Invested Capital (ROIC)		 5.80% 6.63% 6.98% 5.06% 5.41% 6.73% 9.24% 6.83% 6.65% 8.25% 9.54%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.84% 6.64% 7.00% 5.09% 5.43% 6.75% 9.25% 6.85% 6.82% 8.23% 9.71%
Return on Net Nonoperating Assets (RNNOA)		 13.27% 14.73% 15.07% 11.31% 12.25% 15.46% 20.94% 15.72% 15.90% 16.66% 19.27%
Return on Equity (ROE)		 19.07% 21.35% 22.05% 16.37% 17.67% 22.19% 30.18% 22.55% 22.56% 24.91% 28.80%
Cash Return on Invested Capital (CROIC)		 -2.14% 3.11% 1.86% 2.71% 2.60% 4.34% 5.20% 6.94% 8.08% 7.31% 7.24%
Operating Return on Assets (OROA)		 5.16% 5.93% 6.21% 4.49% 4.82% 5.36% 8.19% 6.04% 5.89% 7.35% 8.47%
Return on Assets (ROA)		 5.27% 5.97% 6.25% 4.56% 4.86% 6.05% 8.22% 6.08% 6.31% 7.32% 8.91%
Return on Common Equity (ROCE)		 18.17% 20.34% 21.00% 15.59% 16.83% 21.15% 28.76% 21.49% 21.50% 23.76% 27.48%
Return on Equity Simple (ROE_SIMPLE)		 20.11% 0.00% 20.69% 20.93% 21.72% 0.00% 24.74% 26.01% 26.70% 0.00% 21.94%
Net Operating Profit after Tax (NOPAT)		 69 76 86 65 80 96 115 82 81 101 109
NOPAT Margin		 18.30% 22.13% 25.67% 19.32% 20.65% 22.49% 29.75% 21.46% 21.01% 27.19% 32.41%
Net Nonoperating Expense Percent (NNEP)		 -0.05% -0.01% -0.02% -0.03% -0.02% -0.02% -0.01% -0.02% -0.17% 0.01% -0.17%
SG&A Expenses to Revenue		 34.23% 30.86% 35.05% 37.92% 34.17% 26.57% 31.06% 34.80% 35.14% 30.87% 36.54%
Operating Expenses to Revenue		 81.70% 77.87% 74.33% 80.68% 79.35% 79.97% 70.32% 78.54% 78.99% 72.84% 67.60%
Earnings before Interest and Taxes (EBIT)		 69 76 86 65 80 85 115 82 81 101 109
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 124 128 139 119 134 139 168 136 135 154 162
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 7.70 7.87 8.37 8.46 8.09 8.94 8.22 8.44 9.33 7.31 7.29
Price to Tangible Book Value (P/TBV)		 7.70 7.87 8.37 8.46 8.09 8.94 8.22 8.44 9.33 7.31 7.29
Price to Revenue (P/Rev)		 7.60 7.86 9.25 9.48 8.97 8.60 7.75 7.68 8.43 8.35 8.66
Price to Earnings (P/E)		 40.21 39.95 42.48 42.42 39.08 40.66 34.87 34.01 36.66 34.67 34.81
Dividend Yield		 2.66% 2.68% 2.59% 2.64% 2.83% 2.61% 2.85% 2.84% 2.64% 2.87% 2.92%
Earnings Yield		 2.49% 2.50% 2.35% 2.36% 2.56% 2.46% 2.87% 2.94% 2.73% 2.88% 2.87%
Enterprise Value to Invested Capital (EV/IC)		 3.01 3.02 3.16 3.15 3.01 3.26 3.08 3.14 3.38 3.18 3.19
Enterprise Value to Revenue (EV/Rev)		 9.89 10.23 11.87 12.22 11.69 10.99 10.03 9.90 10.65 10.49 10.84
Enterprise Value to EBITDA (EV/EBITDA)		 29.04 29.20 30.51 30.56 28.95 30.79 27.54 27.15 29.10 26.97 27.23
Enterprise Value to EBIT (EV/EBIT)		 50.47 50.12 52.61 52.67 48.99 51.61 44.65 43.27 46.35 42.27 42.92
Enterprise Value to NOPAT (EV/NOPAT)		 50.47 50.12 52.61 52.67 48.99 49.96 43.31 42.02 45.02 42.23 42.92
Enterprise Value to Operating Cash Flow (EV/OCF)		 31.45 31.12 32.27 35.55 30.76 29.81 26.23 25.12 27.08 26.79 26.99
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 98.48 173.93 118.12 118.02 75.90 59.90 45.39 41.72 43.52 44.06
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.17 2.23 2.24 2.30 2.34 2.35 2.29 2.30 2.32 1.76 1.73
Long-Term Debt to Equity		 2.11 2.10 2.10 2.16 2.34 2.33 2.29 2.29 2.30 1.71 1.70
Financial Leverage		 2.27 2.22 2.15 2.22 2.26 2.29 2.26 2.30 2.33 2.02 1.98
Leverage Ratio		 3.67 3.60 3.54 3.63 3.66 3.68 3.68 3.73 3.77 3.39 3.36
Compound Leverage Factor		 3.67 3.60 3.54 3.63 3.66 3.68 3.68 3.73 3.77 3.39 3.36
Debt to Total Capital		 68.48% 69.07% 69.11% 69.66% 70.06% 70.13% 69.60% 69.68% 69.91% 63.73% 63.39%
Short-Term Debt to Total Capital		 1.97% 4.04% 4.33% 4.14% 0.00% 0.62% 0.12% 0.28% 0.65% 1.53% 1.26%
Long-Term Debt to Total Capital		 66.50% 65.03% 64.79% 65.52% 70.06% 69.51% 69.48% 69.40% 69.25% 62.20% 62.14%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.50% 1.47% 1.46% 1.44% 1.40% 1.39% 1.42% 1.41% 1.40% 1.65% 1.67%
Common Equity to Total Capital		 30.03% 29.47% 29.42% 28.90% 28.54% 28.48% 28.99% 28.90% 28.69% 34.62% 34.94%
Debt to EBITDA		 6.62 6.68 6.67 6.76 6.74 6.63 6.21 6.02 6.02 5.41 5.42
Net Debt to EBITDA		 6.56 6.64 6.61 6.70 6.62 6.58 6.13 5.96 5.95 5.36 5.33
Long-Term Debt to EBITDA		 6.43 6.29 6.25 6.36 6.74 6.58 6.20 6.00 5.96 5.28 5.31
Debt to NOPAT		 11.50 11.47 11.50 11.65 11.40 10.76 9.77 9.32 9.30 8.47 8.54
Net Debt to NOPAT		 11.39 11.39 11.39 11.55 11.20 10.67 9.64 9.22 9.20 8.40 8.41
Long-Term Debt to NOPAT		 11.17 10.80 10.78 10.96 11.40 10.67 9.75 9.28 9.22 8.26 8.37
Noncontrolling Interest Sharing Ratio		 4.72% 4.77% 4.75% 4.75% 4.72% 4.71% 4.70% 4.70% 4.67% 4.60% 4.60%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -317 -69 -119 -99 -100 -16 16 54 111 90 99
Operating Cash Flow to CapEx		 182.37% 111.57% 260.73% 122.51% 184.78% 150.55% 363.30% 228.91% 256.05% 160.42% 427.84%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -3.67 -2.99 0.00 0.00 0.00 0.00 0.00 0.00 3.18
Operating Cash Flow to Interest Expense		 0.00 0.00 4.88 3.26 0.00 0.00 0.00 0.00 0.00 0.00 6.21
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 3.01 0.60 0.00 0.00 0.00 0.00 0.00 0.00 4.76
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.28 0.27 0.24 0.23 0.23 0.27 0.28 0.28 0.28 0.27 0.26
Fixed Asset Turnover		 0.30 0.29 0.26 0.25 0.25 0.29 0.30 0.30 0.30 0.29 0.28
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 4,820 4,905 4,900 4,954 4,999 5,017 4,998 4,982 4,970 5,028 5,008
Invested Capital Turnover		 0.32 0.30 0.27 0.26 0.26 0.30 0.31 0.32 0.32 0.30 0.29
Increase / (Decrease) in Invested Capital		 386 145 205 164 180 112 99 28 -30 11 9.66
Enterprise Value (EV)		 14,485 14,809 15,496 15,603 15,054 16,334 15,418 15,653 16,810 15,987 15,960
Market Capitalization		 11,142 11,371 12,068 12,109 11,541 12,775 11,916 12,146 13,306 12,724 12,749
Book Value per Share		 $7.78 $7.77 $7.74 $7.69 $7.66 $7.67 $7.78 $7.72 $7.64 $9.11 $9.15
Tangible Book Value per Share		 $7.78 $7.77 $7.74 $7.69 $7.66 $7.67 $7.78 $7.72 $7.64 $9.11 $9.15
Total Capital		 4,820 4,905 4,900 4,954 4,999 5,017 4,998 4,982 4,970 5,028 5,008
Total Debt		 3,300 3,388 3,386 3,451 3,502 3,519 3,479 3,471 3,474 3,205 3,175
Total Long-Term Debt		 3,205 3,190 3,174 3,246 3,502 3,488 3,473 3,457 3,442 3,128 3,112
Net Debt		 3,270 3,366 3,356 3,423 3,443 3,489 3,431 3,436 3,434 3,180 3,127
Capital Expenditures (CapEx)		 56 63 61 88 82 86 55 63 58 66 45
Net Nonoperating Expense (NNE)		 -1.47 -0.47 -0.52 -0.97 -0.66 -0.56 -0.28 -0.58 -5.87 0.49 -5.75
Net Nonoperating Obligations (NNO)		 3,300 3,388 3,386 3,451 3,502 3,519 3,479 3,471 3,474 3,205 3,175
Total Depreciation and Amortization (D&A)		 55 52 53 54 54 53 54 54 54 53 53
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.36 $0.39 $0.00 $0.00 $0.00 $0.50 $0.59 $0.42 $0.44 $0.51 $0.57
Adjusted Weighted Average Basic Shares Outstanding		 185.81M 185.78M 0.00 0.00 0.00 186.06M 186.29M 186.32M 186.33M 187.44M 190.93M
Adjusted Diluted Earnings per Share		 $0.36 $0.39 $0.00 $0.00 $0.00 $0.50 $0.59 $0.42 $0.44 $0.51 $0.57
Adjusted Weighted Average Diluted Shares Outstanding		 195.27M 195.26M 0.00 0.00 0.00 195.43M 195.55M 195.47M 195.51M 196.64M 200.07M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 186.11M 186.18M 0.00 0.00 0.00 186.49M 186.50M 186.52M 191.05M 191.14M 191.19M
Normalized Net Operating Profit after Tax (NOPAT)		 69 75 60 46 79 60 104 82 82 93 76
Normalized NOPAT Margin		 18.33% 21.85% 17.97% 13.52% 20.49% 14.02% 26.85% 21.66% 21.34% 24.97% 22.68%
Pre Tax Income Margin		 18.30% 22.13% 25.67% 19.32% 20.65% 20.03% 29.68% 21.46% 21.01% 27.16% 32.41%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 2.64 1.96 0.00 0.00 0.00 0.00 0.00 0.00 3.49
NOPAT to Interest Expense		 0.00 0.00 2.64 1.96 0.00 0.00 0.00 0.00 0.00 0.00 3.49
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.77 -0.69 0.00 0.00 0.00 0.00 0.00 0.00 2.04
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.77 -0.69 0.00 0.00 0.00 0.00 0.00 0.00 2.04
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 103.36% 104.06% 107.43% 109.37% 108.15% 103.91% 97.62% 95.02% 95.04% 95.56% 97.88%
Augmented Payout Ratio		 103.36% 104.06% 107.43% 109.37% 108.15% 103.91% 97.62% 95.02% 95.04% 95.56% 97.88%

Key Financial Trends

Equity Lifestyle delivered solid operating performance in Q1 2025, with free cash flow and margins improving even as revenue faced year-over-year pressure. Leverage remains under control and the dividend yield holds near historical levels, but revenue and SG&A trends warrant monitoring.

  • Free cash flow to firm (FCFF) surged to $99.0 M in Q1 2025, up nearly 10× from $16.4 M a year ago, underscoring strong cash generation.
  • Return on invested capital (ROIC) climbed to 9.5% in Q1 2025, up from 8.2% in Q4 2024, reflecting improved efficiency.
  • EBITDA margin expanded to 48.3% in Q1 2025 versus 43.6% in Q1 2024, driven by operating leverage.
  • Net debt to EBITDA eased to 5.33× in Q1 2025 from 5.36× in Q4 2024, indicating modest deleveraging.
  • EBITDA grew sequentially by 5.2% Q/Q in Q1 2025, demonstrating continued operational momentum.
  • Dividend yield remained around 2.9%, consistent with the prior quarter’s payout profile.
  • Price-to-book ratio held at ~7.3×, roughly unchanged from Q4 2024, implying stable valuation multiples.
  • Net income was $109.2 M in Q1 2025, nearly flat versus $109.9 M in Q1 2024, underscoring earnings stability.
  • Total revenue fell 13.3% YoY to $335.3 M in Q1 2025 from $386.6 M in Q1 2024, signaling topline headwinds.
  • SG&A expenses rose to 36.5% of revenue in Q1 2025, up from 31.1% a year earlier, putting margin pressure on non-interest costs.
06/20/25 06:20 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Equity Lifestyle Properties' Financials

When does Equity Lifestyle Properties' financial year end?

According to the most recent income statement we have on file, Equity Lifestyle Properties' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Equity Lifestyle Properties' net income changed over the last 9 years?

Equity Lifestyle Properties' net income appears to be on an upward trend, with a most recent value of $384.82 million in 2024, rising from $150.51 million in 2015. The previous period was $329.68 million in 2023. Find out what analysts predict for Equity Lifestyle Properties in the coming months.

How has Equity Lifestyle Properties' revenue changed over the last 9 years?

Over the last 9 years, Equity Lifestyle Properties' total revenue changed from $821.65 million in 2015 to $1.52 billion in 2024, a change of 85.4%.

How much debt does Equity Lifestyle Properties have?

Equity Lifestyle Properties' total liabilities were at $3.82 billion at the end of 2024, a 7.1% decrease from 2023, and a 58.7% increase since 2015.

How has Equity Lifestyle Properties' book value per share changed over the last 9 years?

Over the last 9 years, Equity Lifestyle Properties' book value per share changed from 10.97 in 2015 to 9.11 in 2024, a change of -17.0%.


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This page (NYSE:ELS) was last updated on 6/20/2025 by MarketBeat.com Staff
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