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Equity Lifestyle Properties ELS Home sales and brokered resales — Deferred membership upgrade revenue

Other product segments

Annual membership subscriptions
$18.3M+12.0%
Gross revenues from ancillary services
$10.18M-1.4%
Membership upgrade revenue
$3.12M+2.2%

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Other financials

Income statement

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Revenue$397.6M+2.7%
Operating income$112.4M+2.6%
Net income$111.5M-2.5%
EPS (diluted)$0.56-1.8%

Balance sheet

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Cash & equivalents$39.2M-17.4%
Total debt$24.0M-11.6%
Total equity$1.8B+0.7%
Total assets$5.7B+1.9%

Cash flow

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Operating cash flow$194.2M+0.4%
CapEx$45.3M+0.2%
Free cash flow$148.9M+0.5%

Valuation

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Market cap$12.06B-5.1%
P/E30.2×-2.9×
P/S7.8×-0.5×

Profitability

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Operating margin25.6%+1.0pp
Net margin25.9%+0.7pp
FCF margin21.7%-1.8pp

Returns & leverage

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Return on equity22.7%-1.3pp
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 official record: Equity Lifestyle Properties’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Equity Lifestyle Properties's home sales and brokered resales — deferred membership upgrade revenue?
Equity Lifestyle Properties (ELS) reported home sales and brokered resales — deferred membership upgrade revenue of $8.92M in Q1 2026.
How has Equity Lifestyle Properties's home sales and brokered resales — deferred membership upgrade revenue changed year-over-year?
Equity Lifestyle Properties's home sales and brokered resales — deferred membership upgrade revenue decreased by 15.9% year-over-year, from $10.6M to $8.92M.
What is the long-term trend for Equity Lifestyle Properties's home sales and brokered resales — deferred membership upgrade revenue?
Over 4 years (2021 to 2025), Equity Lifestyle Properties's home sales and brokered resales — deferred membership upgrade revenue has grown at a -19.3% compound annual growth rate (CAGR), from $100.6M to $42.67M.
What does home sales and brokered resales — deferred membership upgrade revenue mean?
This metric represents the portion of revenue from membership upgrades within the home sales and brokered resales segment that has been collected but not yet earned. It reflects the accounting treatment of membership contracts where service delivery occurs over time, requiring the deferral of revenue recognition. This is a critical indicator of future revenue visibility and the health of the company's membership-based business model.