15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 6.5% per year over the past 5 years.
Net income has grown faster than revenue (10.7% vs 6.5% per year).
Free cash flow has grown 7.8% per year over the past 5 years.
Financial health
Total debt ($3.3B) exceeds cash ($26M); net debt is $3.3B.
Total debt has grown in line with revenue (6.5% vs 6.5% per year).
Total debt is 5.6× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 96.5% of earnings.
The dividend has grown 9.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$1.5B
$402M
0.0%
25.6%
—
$3.3B
$26M
2024
$1.5B
$385M
0.0%
24.9%
—
$3.2B
$25M
2023
$1.5B
$330M
0.0%
21.5%
—
$3.5B
$30M
2022
$1.4B
$299M
0.0%
20.4%
$343M
$3.4B
$22M
2021
$1.3B
$276M
0.0%
20.7%
$111M
$3.3B
$123M
2020
$1.1B
$241M
0.0%
0.0%
$208M
$2.4B
$24M
2019
$1.0B
$296M
0.0%
0.0%
$385M
$2.2B
$29M
2018
$987M
$226M
0.0%
36.0%
$162M
$2.4B
$69M
2017
$925M
$210M
0.0%
36.4%
$236M
$2.2B
$36M
2016
$870M
$187M
0.0%
36.2%
—
$2.1B
$62M
2015
$822M
$151M
0.0%
35.9%
—
$2.1B
$86M
2014
$777M
$138M
0.0%
35.0%
—
$2.2B
—
2013
$729M
$126M
0.0%
34.9%
—
$2.2B
—
2012
$684M
$60M
0.0%
30.2%
—
$2.3B
—
2011
$577M
$26M
0.0%
30.6%
—
$2.3B
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$398M
$111M
0.0%
28.3%
—
—
$39M
Dec '25
$374M
—
0.0%
26.5%
—
$3.3B
$26M
Sep '25
$393M
$100M
0.0%
25.1%
—
—
$39M
Jun '25
$377M
$83M
0.0%
22.3%
—
—
$33M
Mar '25
$387M
$114M
0.0%
28.3%
—
—
$47M
Dec '24
$372M
—
0.0%
27.2%
—
$3.2B
$25M
Sep '24
$387M
$87M
0.0%
21.4%
—
—
$40M
Jun '24
$380M
$82M
0.0%
21.5%
—
—
$36M
Mar '24
$387M
$115M
0.0%
29.7%
—
—
$47M
Dec '23
$361M
—
0.0%
23.7%
—
$3.5B
$30M
Sep '23
$389M
$81M
0.0%
20.8%
—
—
$60M
Jun '23
$370M
$66M
0.0%
17.6%
—
—
$28M
Mar '23
$370M
$86M
0.0%
23.9%
—
—
$31M
Dec '22
$341M
—
0.0%
0.0%
-$62M
$3.4B
$22M
Sep '22
$381M
$71M
0.0%
0.0%
$101M
—
$31M
Jun '22
$365M
$65M
0.0%
0.0%
—
—
$42M
Mar '22
$360M
$87M
0.0%
0.0%
—
—
$38M
Dec '21
$335M
—
0.0%
0.0%
-$257M
$3.3B
$123M
Sep '21
$347M
$74M
0.0%
0.0%
$125M
—
$40M
Jun '21
$330M
$64M
0.0%
0.0%
—
—
$45M
Valuation over time
How the market has priced ELS against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 43.6× (Mar '23) to 30.3× (Jun '26).
The price-to-sales ratio has fallen from 9.0× (Mar '23) to 8.0× (Jun '26).
The dividend yield has risen from 2.3% (Mar '23) to 3.2% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is ELS growing its revenue and profit?
Over the past 5 years, Equity Lifestyle Properties Inc's revenue has grown 6.5% per year, and net income grown 10.7% per year. These are computed facts, not advice.
How much debt does ELS have?
As of FY2025, Equity Lifestyle Properties Inc reported $3.3B of total debt against $26M of cash.
What is ELS's profit margin?
In FY2025, gross margin was —, operating margin 25.6%, and net margin 26.3%.
What is ELS's P/E ratio?
As of Jun '26, Equity Lifestyle Properties Inc traded at a price-to-earnings ratio of about 30.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.