A Business at a Glance
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SUN COMMUNITIES INC
SUI
$15.3B
Mkt Cap
$121.83
+1.53%
SUN COMMUNITIES INC (SUI) has a current P/E ratio of 9.9, compared to its historical median P/E of 57.7. The stock is currently considered Cheap based on its historical valuation range.
SUN COMMUNITIES INC (SUI) has a 5-year average return on invested capital (ROIC) of 5.6%. This is below average and may indicate limited pricing power.
SUN COMMUNITIES INC (SUI) has a market capitalization of $15.1B. It is classified as a large-cap stock.
Yes, SUN COMMUNITIES INC (SUI) pays a dividend with a trailing twelve-month yield of 6.53%. The company also returns capital through share buybacks, with a buyback yield of 3.58%.
Based on historical P/E analysis, SUN COMMUNITIES INC (SUI) appears cheap. The current P/E of 9.9 is 83% below its historical median of 57.7. The estimated fair value CAGR (P/E method) is 19.7%.
SUN COMMUNITIES INC (SUI) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
SUN COMMUNITIES INC (SUI) reported annual revenue of $2.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
GENERAL OVERVIEW Sun Communities, Inc., and all wholly-owned or majority-owned and controlled subsidiaries, including Sun Communities Operating Limited Partnership, a Michigan limited partnership (the "Operating Partnership"), Sun Home Services, Inc. ("SHS"), and our Park Holidays subsidiaries and the other entities through which we operate our business in the United Kingdom ("UK") are referred to herein as the "Company," "SUI," "us," "we," or "our." We are a fully integrated real estate investment trust ("REIT"). We own manufactured housing ("MH") and recreational vehicle ("RV") communities in the United States ("U.S."), Canada, and the UK (together with MH and RV, the "properties"). We self-administer, self-manage, operate, or hold an interest in, and develop the majority of our properties, and a select number of our communities are operated by independent third-party contractors on our behalf under management agreements. Others are operated by lessees under ground lease arrangements.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 2.3B | 2.3B | 2.3B | 3.0B | 2.3B |
| Net Income | 0 | 1.4B | 89M | -213M | 242M | 380M |
| EPS | $0.00 | $10.84 | $0.71 | $-1.72 | $2.00 | $3.36 |
| Free Cash Flow | 0 | 407M | 831M | 783M | -186M | 81M |
| ROIC | 0.0% | 13.4% | 2.8% | 0.7% | 4.0% | 7.1% |
| Gross Margin | - | 10.0% | 18.9% | 15.2% | 26.8% | 27.5% |
| Debt/Equity | 0.26 | 0.30 | 1.04 | 1.10 | 0.93 | 0.35 |
| Dividends/Share | $0.00 | $7.96 | $3.75 | $3.67 | $3.47 | $3.28 |
| Operating Income | 0 | 1.5B | 403M | 103M | 478M | 540M |
| Operating Margin | 0.0% | 66.5% | 17.8% | 4.5% | 16.1% | 23.8% |
| ROE | 0.0% | 19.4% | 1.3% | -2.9% | 3.4% | 6.3% |
| Shares Outstanding | 124M | 126M | 125M | 124M | 121M | 113M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 484M | 675M | 834M | 983M | 1.1B | 1.3B | 1.4B | 2.3B | 3.0B | 2.3B | 2.3B | 2.3B | 0 |
| Gross Margin | 25.0% | 28.7% | 26.2% | 28.9% | 30.3% | 28.9% | 26.8% | 27.5% | 26.8% | 15.2% | 18.9% | 10.0% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 37M | 47M | 64M | 84M | 81M | 93M | 110M | 181M | 257M | 214M | 231M | 237M | 237M |
| EBIT | 267M | 385M | 467M | 551M | 236M | 294M | 260M | 540M | 478M | 103M | 403M | 1.5B | 0 |
| Op. Margin | 55.1% | 57.0% | 56.0% | 56.1% | 21.0% | 23.3% | 18.6% | 23.8% | 16.1% | 4.5% | 17.8% | 66.5% | 0.0% |
| Net Income | 137M | 137M | 17M | 65M | 105M | 160M | 132M | 380M | 242M | -213M | 89M | 1.4B | 0 |
| Net Margin | 28.4% | 20.4% | 2.1% | 6.6% | 9.4% | 12.7% | 9.4% | 16.7% | 8.1% | -9.3% | 3.9% | 59.0% | 0.0% |
| Non-Recurring | 3.6M | 5.1M | 11M | 10M | 9.4M | 11M | 15M | 49M | 27M | 379M | 208M | 15M | 15M |
| Returns on Capital | |||||||||||||
| ROIC | 10.4% | 15.2% | 12.7% | 9.9% | 3.9% | 4.5% | 3.9% | 7.1% | 4.0% | 0.7% | 2.8% | 13.4% | 0.0% |
| ROE | 22.0% | 11.8% | 0.9% | 2.7% | 3.7% | 4.6% | 2.8% | 6.3% | 3.4% | -2.9% | 1.3% | 19.4% | 0.0% |
| ROA | 5.6% | 3.9% | 0.3% | 1.1% | 1.6% | 2.2% | 1.4% | 3.1% | 1.6% | -1.3% | 0.5% | 9.4% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 133M | 182M | 241M | 258M | 363M | 477M | 543M | 754M | 735M | 791M | 861M | 864M | 0 |
| Free Cash Flow | -45M | -26M | 18M | -31M | -26M | -93M | 4.8M | 81M | -186M | 783M | 831M | 407M | 0 |
| Owner Earnings | -5.3M | -2.5M | 10M | -16M | 61M | 131M | 143M | 203M | 96M | 261M | 337M | 319M | -545M |
| CapEx | 178M | 208M | 223M | 289M | 389M | 569M | 539M | 673M | 921M | 7.1M | 30M | 457M | 0 |
| Maint. CapEx | 134M | 178M | 222M | 262M | 287M | 328M | 377M | 523M | 602M | 494M | 491M | 508M | 508M |
| Growth CapEx | 44M | 31M | 1.7M | 27M | 102M | 241M | 162M | 150M | 319M | 0 | 0 | 0 | 0 |
| D&A | 134M | 178M | 222M | 262M | 287M | 328M | 377M | 523M | 602M | 494M | 491M | 508M | 508M |
| CapEx/OCF | 133.4% | 114.4% | 93.6% | 111.8% | 107.2% | 119.4% | 358.2% | 89.3% | 125.3% | 126.9% | 54.5% | 53.3% | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 313M | 391M | 434M | 475M | 491M | 1.0B | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | 2.7% | 2.8% | 2.2% | 3.0% | 3.5% | 7.0% | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 539M | 539M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.6% | 3.6% |
| Stock-Based Comp | 4.9M | 7.1M | 9.6M | 13M | 15M | 17M | 23M | 28M | 38M | 35M | 33M | 37M | 37M |
| Debt Repayment | 95M | 223M | 231M | 124M | 299M | 553M | 230M | 77M | 401M | 174M | 269M | 2.1B | 2.1B |
| Balance Sheet | |||||||||||||
| Net Debt | 2.2B | 357M | 3.2B | 3.1B | 3.2B | 3.1B | 1000M | 2.0B | 7.0B | 7.8B | 7.3B | 1.5B | 606M |
| Cash & Equiv. | 83M | 45M | 8.2M | 10M | 50M | 22M | 77M | 66M | 73M | 29M | 48M | 570M | 1.2B |
| Long-Term Debt | 2.3B | 377M | 3.1B | 3.1B | 3.1B | 3.4M | 4.8M | 5.7M | 7.2B | 7.8B | 7.4B | 2.1B | 45M |
| Debt/Equity | 2.63 | 0.28 | 1.39 | 1.20 | 1.05 | 0.83 | 0.22 | 0.35 | 0.93 | 1.10 | 1.04 | 0.30 | 0.26 |
| Interest Coverage | 3.6 | 3.6 | 3.9 | 4.3 | 1.8 | 2.2 | 2.0 | 3.4 | 2.1 | 0.3 | 1.2 | 6.9 | 6.9 |
| Equity | 878M | 1.5B | 2.3B | 2.6B | 3.1B | 3.8B | 5.5B | 6.6B | 7.8B | 7.1B | 7.1B | 7.0B | 7.0B |
| Total Assets | 2.9B | 4.2B | 5.9B | 6.1B | 6.7B | 7.8B | 11.2B | 13.5B | 17.1B | 16.9B | 16.5B | 12.5B | 12.8B |
| Total Liabilities | 2.0B | 2.6B | 3.4B | 3.4B | 3.5B | 3.8B | 5.3B | 6.5B | 9.0B | 9.5B | 9.1B | 5.2B | 5.4B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | 67M | 306M | 307M | 402M | 370M | 103M | 102M | 107M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | 838M | N/A | N/A | N/A | N/A | N/A | 282M |
| Per Share Data | |||||||||||||
| EPS | 2.57 | 2,351.66 | 237.26 | 888.19 | 1.29 | 1.80 | 1.34 | 3.36 | 2.00 | -1.72 | 0.71 | 10.84 | 0.00 |
| Owner EPS | -0.10 | -42.50 | 138.35 | -221.95 | 0.74 | 1.47 | 1.46 | 1.79 | 0.79 | 2.11 | 2.69 | 2.54 | -4.41 |
| Book Value | 16.42 | 24,930.39 | 31,358.24 | 35,494.78 | 37.99 | 42.90 | 56.26 | 58.54 | 64.54 | 57.11 | 56.49 | 55.40 | 56.48 |
| Cash Flow/Share | 2.49 | 3,121.21 | 3,298.30 | 3,524.07 | 4.44 | 5.35 | 5.53 | 6.66 | 6.07 | 6.37 | 6.87 | 6.88 | 4.11 |
| Dividends/Share | 2.60 | 2.60 | 2.60 | 2.66 | 2.80 | 2.96 | 3.12 | 3.28 | 3.47 | 3.67 | 3.75 | 7.96 | 0.00 |
| Shares Out. | 53.5M | 0.1M | 0.1M | 0.1M | 81.8M | 89.0M | 98.2M | 113.2M | 121.0M | 124.0M | 125.4M | 125.6M | 123.7M |
| Valuation | |||||||||||||
| P/E Ratio | 60.8 | 18.0 | 200.3 | 78.3 | 57.7 | 57.0 | 86.2 | 42.5 | 72.1 | N/A | 150.0 | 10.9 | N/A |
| P/FCF | N/A | N/A | 0.2 | N/A | N/A | N/A | N/A | 199.4 | N/A | 18.1 | 16.1 | 36.3 | N/A |
| EV/EBIT | 31.3 | 19.1 | N/A | 910.7 | N/A | 41.4 | 47.4 | 33.7 | 42.4 | 138.9 | N/A | 124.2 | N/A |
| Price/Book | 1.5 | 1.7 | 1.5 | 2.0 | 2.0 | 2.4 | 2.1 | 2.4 | 2.2 | 2.0 | 1.9 | 2.1 | 2.2 |
| Price/Sales | 2.6 | 3.3 | 3.9 | 4.6 | 5.1 | 6.0 | 8.3 | 6.2 | 6.6 | 4.9 | 6.3 | 6.5 | N/A |
| FCF Yield | -3.3% | -1.1% | 0.5% | -0.6% | -0.4% | -1.0% | 0.0% | 0.5% | -1.1% | 5.5% | 6.2% | 2.8% | N/A |
| Market Cap | 1.4B | 2.5B | 3.5B | 5.1B | 6.1B | 9.1B | 11.3B | 16.2B | 17.5B | 14.2B | 13.3B | 14.8B | 15.1B |
| Avg. Price | 30.22 | 41.15 | 49.14 | 58.94 | 70.28 | 85.69 | 118.85 | 124.48 | 161.18 | 128.61 | 113.17 | 118.55 | 121.83 |
| Year-End Price | 32.85 | 45.33 | 52.08 | 66.52 | 74.38 | 102.53 | 115.53 | 142.74 | 144.25 | 114.13 | 106.50 | 117.83 | 121.83 |
SUN COMMUNITIES INC passes 5 of 9 quality checks, suggesting mixed fundamentals.
SUN COMMUNITIES INC trades at 9.9x trailing earnings, compared to its 15-year median P/E of 57.7x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 24.2x vs a median of 17.1x. The company's 5-year average ROIC is 5.6% with a gross margin of 19.7%. Total shareholder yield (dividends + buybacks) is 10.1%. At current prices, the estimated annualized return to fair value is +23.2%.
SUN COMMUNITIES INC (SUI) has a net profit margin of 59.0%. This is a strong margin indicating high profitability.
SUN COMMUNITIES INC (SUI) generated $407 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SUN COMMUNITIES INC (SUI) has a debt-to-equity ratio of 0.30. This indicates a conservatively financed balance sheet.
SUN COMMUNITIES INC (SUI) reported earnings per share (EPS) of $10.84 in its most recent fiscal year.
SUN COMMUNITIES INC (SUI) has a return on equity (ROE) of 19.4%. This indicates the company generates strong returns for shareholders.
SUN COMMUNITIES INC (SUI) has a 5-year average gross margin of 19.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for SUN COMMUNITIES INC (SUI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SUN COMMUNITIES INC (SUI) has a book value per share of $55.40, based on its most recent annual SEC filing.