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Equity Lifestyle Properties ELS Gross revenues from ancillary services — Deferred membership upgrade revenue

Other product segments

Annual membership subscriptions
$18.82M+11.3%
Home sales and brokered resales
$10.28M-3.5%
Membership upgrade revenue
$3.12M0.0%

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FTE
FTEKAncillary Revenue — Revenue
$455K-5.4%

Other financials

Income statement

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Revenue$397.8M+5.6%
Operating income$99.4M+18.0%
Net income$99.5M+19.2%
EPS (diluted)$0.50+19.0%

Balance sheet

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Cash & equivalents$35.6M+7.9%
Total debt$24.0M-11.4%
Total equity$1.8B+1.6%
Total assets$5.8B+1.4%

Cash flow

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Operating cash flow$147.9M+12.7%
CapEx$64.2M+7.9%
Free cash flow$83.8M+16.6%

Valuation

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Market cap$12.61B+6.1%
P/E30.4×-0.5×
P/S8.1×+0.3×

Profitability

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Operating margin26.2%+1.4pp
Net margin26.6%+1.3pp
FCF margin22.2%-0.8pp

Returns & leverage

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Return on equity23.8%-0.5pp
Debt / equity0.0×

Where this comes from

Reported directly by Equity Lifestyle Properties in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Equity Lifestyle Properties’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 5:24 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-050244
(amounts in thousands)Quarters Ended June 30, 2026Quarters Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Annual membership subscriptions18,81916,90237,11833,244
Membership upgrade revenue3,1203,1206,2406,172
Other income15,25216,47329,34832,028
Gross revenues from ancillary services12,52112,13922,70022,463
Total property operations revenues376,245358,381757,191727,467
Expenses:
Utility expense41,68139,18282,86479,451
Payroll32,93631,81561,37660,086

Item 1. Financial Statements

FAQ

What is Equity Lifestyle Properties's gross revenues from ancillary services — deferred membership upgrade revenue?
Equity Lifestyle Properties (ELS) reported gross revenues from ancillary services — deferred membership upgrade revenue of $12.52M in Q2 2026.
How has Equity Lifestyle Properties's gross revenues from ancillary services — deferred membership upgrade revenue changed year-over-year?
Equity Lifestyle Properties's gross revenues from ancillary services — deferred membership upgrade revenue increased by 3.1% year-over-year, from $12.14M to $12.52M.
What is the long-term trend for Equity Lifestyle Properties's gross revenues from ancillary services — deferred membership upgrade revenue?
Over 4 years (2021 to 2025), Equity Lifestyle Properties's gross revenues from ancillary services — deferred membership upgrade revenue has grown at a 52.6% compound annual growth rate (CAGR), from $7.99M to $43.37M.
What does gross revenues from ancillary services — deferred membership upgrade revenue mean?
This metric represents the revenue recognized from the sale of membership upgrades within the company's ancillary services segment. It reflects the incremental value captured from existing members who choose to enhance their service tiers or access additional amenities within the property portfolio. As a key component of the ancillary revenue stream, it highlights the company's ability to drive organic growth through customer retention and upselling strategies.

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