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

Other product segments

Annual membership subscriptions
$18.82M+11.3%
Gross revenues from ancillary services
$12.52M+3.1%
Membership upgrade revenue
$3.12M0.0%

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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
Revenues:
Rental income (1)$3,897$3,540$7,691$6,933
Gross revenues from home sales and brokered resales10,28410,65919,20121,258
Total revenues14,18114,19926,89228,191
Expenses:
Rental home operating and maintenance1,4281,3032,7812,451
Cost of home sales and brokered resales10,18510,29919,55719,546
Home selling expenses1,8461,4213,4162,725

Item 1. Financial Statements

FAQ

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 $10.28M in Q2 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 3.5% year-over-year, from $10.66M to $10.28M.
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.

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