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Equity LifeStyle Properties, Inc.(ELS)Earnings, Financials & Key Ratios
ELS•NYSE•REIT / Real Estate
$65.38
33.9× P/E·Price updated Jul 7, 2026
AboutWe are a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago. As of January 25, 2021, we own or have an interest in 423 quality properties in 33 states and British Columbia consisting of 161,229 sites.Show more
- Revenue$1.53B+6.8%
- FFO$595M+3.3%
- FFO/Share2.98+1.5%
- FFO Payout68.02%+6.6%
- FFO per Share2.98+1.5%
- NOI Margin37.63%-23.8%
- FFO Margin38.88%-3.3%
- ROE21.24%-3.8%
- ROA6.79%+4.1%
ELS Price & Volume
Equity LifeStyle Properties, Inc. (ELS) stock price & volume — 10-year historical chart
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Operational Margin Volatility Challenges Asset Value Stability
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Climate-related insurance cost volatility
Key Thesis Takeaways
- Equity LifeStyle Properties faces a complex outlook where high maintenance capital expenditures, frequently exceeding $60 million per quarter, consistently constrain the conversion of operating profits into free cash flow.
- While the company has successfully reduced its debt-to-equity ratio from 2.35 in 2023Q4 to 1.85 by 2025Q4, investors should remain cautious regarding the significant geographic concentration in Florida and California.
- The persistent gap between GAAP net income and FFO, alongside recent NOI margin compression to 3.7% in 2025Q4, suggests that the firm's underlying earnings quality remains sensitive to seasonal revenue shifts and climate-related insurance cost volatility.
Verdict Logic
while the dividend payout remains supported by an AFFO coverage ratio of 0.64x as of 2026Q1, the high P/E of 33.28 and recent margin volatility warrant a wait-and-see approach.
ELS Growth Metrics
Equity LifeStyle Properties, Inc. (ELS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years6.61%
5 Years7.23%
3 Years3.66%
TTM5.99%
Profit CAGR
10 Years10.74%
5 Years11.11%
3 Years10.74%
TTM5.16%
EPS CAGR
10 Years9.62%
5 Years10.34%
3 Years8.05%
TTM0.53%
Return on Capital
10 Years8.72%
5 Years8.57%
3 Years8.61%
Last Year9.75%
ELS Recent Earnings
Equity LifeStyle Properties, Inc. (ELS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
Apr 21, 2026Metric
Actual
Est
EPS
$0.56+2.6%
$0.55
Rev
$398M+0.5%
$396M
Q1 2026
Jan 28, 2026Metric
Actual
Est
EPS
$0.79+45.8%
$0.54
Rev
$374M-2.2%
$382M
Q4 2025
Oct 22, 2025Metric
Actual
Est
EPS
$0.75+61.3%
$0.46
Rev
$373M-2.6%
$383M
Q3 2025
Jul 21, 2025Metric
Actual
Est
EPS
$0.69+66.6%
$0.41
Rev
$373M-5.2%
$393M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 21, 2026 | $0.56vs $0.55+2.6% | $398Mvs $396M+0.5% |
| Q1 2026 | Jan 28, 2026 | $0.79vs $0.54+45.8% | $374Mvs $382M-2.2% |
| Q4 2025 | Oct 22, 2025 | $0.75vs $0.46+61.3% | $373Mvs $383M-2.6% |
| Q3 2025 | Jul 21, 2025 | $0.69vs $0.41+66.6% | $373Mvs $393M-5.2% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Equity LifeStyle Properties, Inc. (ELS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $65.38 | $12.68B | 33.88 | 6.84% | 25.24% | 21.24% | 3.1% | |
| $120.78 | $14.88B | 11.14 | -27.94% | 66.87% | 21.6% | — | |
| $15.41 | $1.31B | 220.14 | 8.81% | 10.79% | 2.36% | — | |
| $5.67 | $1.97B | -9.45 | 698.96% | -102.06% | -44.1% | — | |
| $117.58 | $12.31B | 33.21 | 1.92% | 32.81% | 8.71% | — | |
| $70.15 | $26.28B | 24.11 | 4.06% | 30.56% | 8.4% | — |
Compare ELS vs Peers
Equity LifeStyle Properties, Inc. (ELS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ELS SEC Filings & Documents
Equity LifeStyle Properties, Inc. (ELS) SEC filings — annual & quarterly reports (10-K, 10-Q)
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ELS Frequently Asked Questions
Equity LifeStyle Properties, Inc. (ELS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Equity LifeStyle Properties, Inc.'s revenue?
Equity LifeStyle Properties, Inc. (ELS) reported $1.56B in revenue for fiscal year 2025. This represents a 1384% increase from $105.2M in 1996.
How fast is Equity LifeStyle Properties, Inc. growing?
Equity LifeStyle Properties, Inc. (ELS) grew revenue by 6.8% over the past year. This is steady growth.
Is ELS profitable?
Yes, Equity LifeStyle Properties, Inc. (ELS) is profitable, generating $385.2M in net income for fiscal year 2025 (25.2% net margin).
Dividend & Returns
Does ELS pay dividends?
Yes, Equity LifeStyle Properties, Inc. (ELS) pays a dividend with a yield of 3.10%. This makes it attractive for income-focused investors.
What is ELS's return on equity?
Equity LifeStyle Properties, Inc. (ELS) has a return on equity (ROE) of 21.2%. This is excellent, indicating efficient use of shareholder capital.
Industry Metrics
What is Equity LifeStyle Properties, Inc.'s FFO?
Equity LifeStyle Properties, Inc. (ELS) generated Funds From Operations (FFO) of $595.1M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Is ELS a good dividend stock?
Equity LifeStyle Properties, Inc. (ELS) offers a 3.10% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.