ELS Real Estate

Equity LifeStyle Properties, Inc.

$60.30-0.25%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Real Estate
Industry: REIT - Residential
Country: United States
Market cap: 12.1B USD
Enterprise value: 15.2B USD
Full-time employees: 3,700

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.14 vs a peer median of 1.20) and more debt relative to equity (1.91× vs a peer median of 0.80×)higher risk: less liquidity (current ratio 0.14 vs peers 1.20) and more debt vs equity (1.91× vs peers 0.80×)
About average: growth

Ranks #424 of 632 real estate companies (bottom 34%)

See how it ranks against its peers

Worth knowing

Investment surge. Capital spending 15% of revenue, up from 9.2% in 2022.
Equity LifeStyle Properties is spending 15% of revenue on facilities and equipment, up from 9.2% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.
Profits growing faster than sales. Since 2022: revenue +5.8%, operating profit +32%.
Since 2022, Equity LifeStyle Properties's revenue grew 5.8% while operating profit grew 32%: each extra dollar of sales is adding more profit.

StockQuotient Score

43/ 100

Oct 5 43 → Nov 4 43

Valuation

Is the price right?

24/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ FCF yield
▼ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.5%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.37Sector median: 0.0535 · MAD: 0.0484

EBITDA yield4.1%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.60Sector median: 0.0536 · MAD: 0.0204

Free cash flow yield2.8%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score -0.84Sector median: 0.0650 · MAD: 0.0444

Other data (not scored)

Book yield15.0%

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 1.1277 · MAD: 0.5490

Growth

Is it growing?

46/100

Moderate▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Score 47 → 46

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth7.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.11Sector median: 0.1117 · MAD: 0.3101

3-year revenue growth2.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.21Sector median: 0.0378 · MAD: 0.0744

Revenue growth2.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.05Sector median: 0.0297 · MAD: 0.0927

Profitability

Does it earn well?

87/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin26.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.03Sector median: 0.2683 · MAD: 0.2257

Return on assets7.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.43Sector median: 0.0211 · MAD: 0.0134

Return on invested capital6.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.51Sector median: 0.0341 · MAD: 0.0197

Other data (not scored)

Gross margin53.7%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.5380 · MAD: 0.2259

Return on equity23.6%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0521 · MAD: 0.0465

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.64

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.32Sector median: 0.7490 · MAD: 0.3270

Current ratio0.14×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score -1.46Sector median: 1.1950 · MAD: 0.7210

Debt / equity1.91×

SEC filings · latest balance sheetReported value33% base weight · Z-score -2.83Sector median: 0.8040 · MAD: 0.3893

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Equity LifeStyle Properties

Is Equity LifeStyle Properties getting weaker?: Its latest SEC filing (Jul 28, 2026) showed no major changes. Its overall score is unchanged at 43/100 since Oct 28, 2026.
How is Equity LifeStyle Properties valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 24/100 against 762 real estate peers. Free cash flow yield 2.8% vs a peer median of 6.5% (weaker than 75% of peers).Free cash flow yield 2.8% vs peers 6.5% (weaker than 75% of peers).
Is Equity LifeStyle Properties growing?: At about the same pace as its peers. Growth scores 46/100 against 762 real estate peers.
How profitable is Equity LifeStyle Properties?: More profitable than most of its peers. Profitability scores 87/100 against 762 real estate peers. Return on assets 7.2% vs a peer median of 2.1% (stronger than 95% of peers).Return on assets 7.2% vs peers 2.1% (stronger than 95% of peers).
How risky is Equity LifeStyle Properties?: Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Current ratio 0.14× vs a peer median of 1.20× (weaker than 100% of peers).Current ratio 0.14× vs peers 1.20× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 28, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.5B USD	1.6B USD	+1.4%
Net income (12 months)	399.2M USD	415.2M USD	+4.0%
Operating margin	25.6%	26.2%	+0.6 pts
Cash	39.2M USD	35.6M USD	−9.2%
Shares outstanding	193.9M	194.1M	+0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Real Estate · 124 companies

Valuations in Real Estate are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +4% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +112% vs the whole market, against a usual +154%.

2016Shaded: most expensive fifth of its range2026

Shown for Real Estate: too few REIT - Residential companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	20.7%	20.4%	21.5%	24.9%	25.6%	▲ 0.6 pts
Net margin	21.0%	20.7%	22.1%	25.2%	26.3%	▲ 1.0 pts
Return on assets (ROA)	5.2%	5.4%	5.9%	6.8%	7.0%	▲ 0.2 pts
Return on equity (ROE)	19.5%	20.7%	23.1%	22.1%	22.9%	▲ 0.8 pts
Free cash flow margin	8.4%	23.7%	15.5%	23.3%	21.8%	▼ 1.5 pts
Debt to equity	2.31×	2.34×	2.46×	1.84×	1.91×	▲ 3.5%
Interest coverage	2.50×	2.53×	2.42×	2.76×	2.99×	▲ 8.1%

ELS price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.14 vs a peer median of 1.20) and more debt relative to equity (1.91× vs a peer median of 0.80×)higher risk: less liquidity (current ratio 0.14 vs peers 1.20) and more debt vs equity (1.91× vs peers 0.80×)

About average: growth

Ranks #424 of 632 real estate companies (bottom 34%)

See how it ranks against its peers

Worth knowing

Investment surge. Capital spending 15% of revenue, up from 9.2% in 2022.

Equity LifeStyle Properties is spending 15% of revenue on facilities and equipment, up from 9.2% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

Profits growing faster than sales. Since 2022: revenue +5.8%, operating profit +32%.

Since 2022, Equity LifeStyle Properties's revenue grew 5.8% while operating profit grew 32%: each extra dollar of sales is adding more profit.

Questions investors ask about Equity LifeStyle Properties

Is Equity LifeStyle Properties getting weaker?

Its latest SEC filing (Jul 28, 2026) showed no major changes. Its overall score is unchanged at 43/100 since Oct 28, 2026.

How is Equity LifeStyle Properties valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 24/100 against 762 real estate peers. Free cash flow yield 2.8% vs a peer median of 6.5% (weaker than 75% of peers).Free cash flow yield 2.8% vs peers 6.5% (weaker than 75% of peers).

Is Equity LifeStyle Properties growing?

At about the same pace as its peers. Growth scores 46/100 against 762 real estate peers.

How profitable is Equity LifeStyle Properties?

More profitable than most of its peers. Profitability scores 87/100 against 762 real estate peers. Return on assets 7.2% vs a peer median of 2.1% (stronger than 95% of peers).Return on assets 7.2% vs peers 2.1% (stronger than 95% of peers).

How risky is Equity LifeStyle Properties?

Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Current ratio 0.14× vs a peer median of 1.20× (weaker than 100% of peers).Current ratio 0.14× vs peers 1.20× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.5B USD

1.6B USD

+1.4%

Net income (12 months)

399.2M USD

415.2M USD

+4.0%

Operating margin

25.6%

26.2%

+0.6 pts

Cash

39.2M USD

35.6M USD

−9.2%

Shares outstanding

193.9M

194.1M

+0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

20.7%

20.4%

21.5%

24.9%

25.6%

▲ 0.6 pts

Net margin

21.0%

20.7%

22.1%

25.2%

26.3%

▲ 1.0 pts

Return on assets (ROA)

5.2%

5.4%

5.9%

6.8%

7.0%

▲ 0.2 pts

Return on equity (ROE)

19.5%

20.7%

23.1%

22.1%

22.9%

▲ 0.8 pts

Free cash flow margin

8.4%

23.7%

15.5%

23.3%

21.8%

▼ 1.5 pts

Debt to equity

2.31×

2.34×

2.46×

1.84×

1.91×

▲ 3.5%

Interest coverage

2.50×

2.53×

2.42×

2.76×

2.99×

▲ 8.1%