Latest Ratios: P/E Ratio 11.1x · EV/EBITDA 16.2x · ROE 19.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.9B | $15.5B | $15.6B | $16.5B | $17.6B | $23.6B | $14.8B | $13.3B | $8.3B | $7.1B | $5.1B |
| Enterprise Value | $16.1B | $16.7B | $22.9B | $24.3B | $24.6B | $29.2B | $19.4B | $16.6B | $11.3B | $10.1B | $8.1B |
| P/E Ratio → | 11.14 | 11.43 | 173.20 | — | 71.50 | 62.49 | 113.40 | 82.02 | 77.64 | 109.15 | 294.65 |
| P/S Ratio | 6.45 | 6.71 | 4.89 | 5.20 | 5.99 | 10.46 | 10.72 | 10.61 | 7.54 | 7.40 | 6.23 |
| P/B Ratio | 2.10 | 2.15 | 2.17 | 2.31 | 2.23 | 3.51 | 2.63 | 3.43 | 2.63 | 2.67 | 2.15 |
| P/FCF | 17.22 | 17.91 | 17.60 | 20.48 | 23.36 | 30.68 | 26.75 | 25.48 | 22.98 | 27.19 | 20.33 |
| P/OCF | 17.22 | 17.91 | 17.60 | 20.48 | 23.36 | 30.68 | 26.75 | 25.48 | 22.98 | 27.19 | 20.33 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.23 | 7.17 | 7.64 | 8.39 | 12.91 | 14.05 | 13.27 | 10.25 | 10.55 | 9.98 |
| EV / EBITDA | 16.24 | 16.84 | 19.07 | 19.90 | 21.26 | 30.09 | 18.93 | 18.08 | 21.78 | 22.33 | 20.67 |
| EV / EBIT | 33.34 | 94.77 | 54.35 | 217.69 | 48.88 | 50.49 | 64.83 | 55.86 | 44.53 | 47.57 | 52.81 |
| EV / FCF | — | 19.29 | 25.82 | 30.07 | 32.74 | 37.87 | 35.07 | 31.86 | 31.21 | 38.76 | 32.56 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.3% | 9.3% | 46.8% | 47.0% | 48.3% | 50.9% | 55.6% | 56.3% | 55.4% | 56.3% | 56.4% |
| Operating Margin | 20.9% | 20.9% | 16.3% | 17.6% | 19.0% | 19.8% | 47.7% | 48.9% | 22.1% | 20.4% | 21.4% |
| Net Profit Margin | 59.6% | 59.6% | 2.8% | -6.7% | 8.2% | 16.8% | 9.5% | 12.9% | 9.7% | 7.5% | 3.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.1% | 19.1% | 1.2% | -2.8% | 3.3% | 6.2% | 2.8% | 4.6% | 3.7% | 2.9% | 1.3% |
| ROA | 9.5% | 9.5% | 0.5% | -1.3% | 1.6% | 3.1% | 1.4% | 2.2% | 1.7% | 1.2% | 0.5% |
| ROIC | 3.2% | 3.2% | 2.7% | 2.8% | 3.1% | 3.0% | 5.7% | 6.9% | 3.1% | 2.6% | 2.8% |
| ROCE | 4.0% | 4.0% | 3.7% | 4.0% | 4.3% | 4.2% | 7.8% | 9.0% | 4.0% | 3.4% | 3.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.25 | 1.02 | 1.08 | 0.90 | 0.83 | 0.83 | 0.87 | 0.96 | 1.14 | 1.30 |
| Debt / EBITDA | 1.85 | 1.85 | 6.11 | 6.37 | 6.15 | 5.78 | 4.57 | 3.66 | 5.87 | 6.69 | 7.78 |
| Net Debt / Equity | — | 0.17 | 1.02 | 1.08 | 0.89 | 0.82 | 0.82 | 0.86 | 0.94 | 1.14 | 1.29 |
| Net Debt / EBITDA | 1.21 | 1.21 | 6.07 | 6.35 | 6.09 | 5.71 | 4.49 | 3.62 | 5.75 | 6.67 | 7.76 |
| Debt / FCF | — | 1.38 | 8.22 | 9.59 | 9.38 | 7.19 | 8.32 | 6.39 | 8.23 | 11.57 | 12.23 |
| Interest Coverage | 0.78 | 0.78 | 1.20 | 0.34 | 2.15 | 3.55 | 2.25 | 2.16 | 1.92 | 1.64 | 1.26 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.38 | 0.38 | 0.33 | 0.26 | 0.35 | 0.49 | 0.30 | 0.68 | 0.85 | 1.45 | 1.68 |
| Quick Ratio | 0.33 | 0.33 | 0.28 | 0.18 | 0.28 | 0.46 | 0.27 | 0.56 | 0.74 | 1.32 | 1.53 |
| Cash Ratio | 0.21 | 0.21 | 0.02 | 0.01 | 0.07 | 0.16 | 0.12 | 0.25 | 0.23 | 0.04 | 0.05 |
| Asset Turnover | — | 0.18 | 0.19 | 0.19 | 0.17 | 0.17 | 0.12 | 0.16 | 0.16 | 0.16 | 0.14 |
| Inventory Turnover | 14.64 | 14.64 | 13.11 | 8.20 | 7.49 | 21.71 | 13.16 | 8.82 | 10.02 | 13.79 | 16.45 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.9% | 6.7% | 3.1% | 2.9% | 2.5% | 1.7% | 2.1% | 2.1% | 2.9% | 3.2% | 3.8% |
| Payout Ratio | 76.0% | 76.0% | 553.6% | — | 179.4% | 102.8% | 237.9% | 171.3% | 226.4% | 311.0% | 736.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.0% | 8.7% | 0.6% | — | 1.4% | 1.6% | 0.9% | 1.2% | 1.3% | 0.9% | 0.3% |
| FCF Yield | 5.8% | 5.6% | 5.7% | 4.9% | 4.3% | 3.3% | 3.7% | 3.9% | 4.4% | 3.7% | 4.9% |
| Buyback Yield | 3.6% | 3.5% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.6% | 0.0% |
| Total Shareholder Yield | 10.5% | 10.2% | 3.1% | 3.0% | 2.5% | 1.7% | 2.1% | 2.1% | 3.0% | 4.8% | 3.8% |
| Shares Outstanding | — | $125M | $127M | $124M | $123M | $113M | $98M | $88M | $82M | $77M | $66M |
Coastal Insurance Cost Inflation
As reported in recent financial filings, SUI's P/FFO multiples have remained consistently elevated above 50x, suggesting that the market is pricing in significant growth expectations that appear disconnected from the company's recent volatile FFO per share performance and contracting revenue trends observed over the last ten quarters.
The persistent premium in P/FFO multiples relative to historical norms warrants caution, as it implies investors are assigning a growth-oriented valuation to an asset base currently facing significant operational headwinds. This valuation disconnect suggests that the market may be failing to account for the increased risk profile associated with the company's pivot toward more cyclical marina and international leisure assets.
Based on the provided quarterly data, NOI margins have exhibited extreme variance, swinging from a low of 37.8% in 2025Q3 to a peak of 69.3% in 2025Q4, which indicates that the core rental business is being heavily influenced by non-recurring transactional gains and seasonal operational noise.
The lack of stability in NOI margins suggests that the company's underlying property-level profitability is difficult to isolate from the noise of home sales and portfolio churn. Investors should monitor whether management can achieve consistent margin expansion in the core manufactured housing segment, which remains the primary driver of long-term value creation.
According to the company's reported financial statements, the FFO payout ratio has reached levels as high as 149.3% in 2025Q1, indicating that the dividend distribution is periodically exceeding the company's ability to generate sufficient recurring cash flow from its core real estate operations.
The erratic nature of the payout ratio suggests that dividend sustainability may be reliant on capital recycling or debt-funded distributions rather than organic cash flow growth. This volatility necessitates a closer look at the company's ability to maintain its current dividend policy without compromising its long-term balance sheet health.
As indicated by recent balance sheet data, the debt-to-equity ratio has moderated from a peak of 1.13 in 2024Q2 to 0.61 in 2026Q1, reflecting a strategic shift toward balance sheet consolidation following a period of aggressive, debt-funded expansion into marina and international holiday park assets.
While the reduction in leverage appears favorable, the company's interest coverage ratio remains highly sensitive to operational fluctuations, occasionally dipping into negative territory. This suggests that while the balance sheet is becoming more conservative, the company's ability to service its debt remains vulnerable to further operational volatility.
Financial analysts frequently misapply the standard P/E ratio to SUI, which obscures the company's true performance by failing to account for the significant non-cash depreciation charges inherent in its large-scale coastal and residential infrastructure portfolio.
Using P/E instead of P/FFO or P/AFFO leads to a distorted view of earnings, as it treats essential capital maintenance as a reduction in value rather than a necessary cost of operations. Investors should prioritize FFO-based metrics to better capture the actual cash-generating capacity of the underlying real estate assets.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SUI stock.
Sun Communities, Inc.'s current P/E ratio is 11.1x. The historical average is 64.6x.
Sun Communities, Inc.'s current EV/EBITDA is 16.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.9x.
Sun Communities, Inc.'s return on equity (ROE) is 19.1%. The historical average is 2.2%.
Based on historical data, Sun Communities, Inc. is trading at a P/E of 11.1x. Compare with industry peers and growth rates for a complete picture.
Sun Communities, Inc.'s current dividend yield is 6.92% with a payout ratio of 76.0%.
Sun Communities, Inc. has 9.3% gross margin and 20.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Sun Communities, Inc.'s Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.