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Equity Lifestyle Properties ELS Membership Subscription — Contract with Customer, Liability

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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:ContractWithCustomerLiability.

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 membership subscription — contract with customer, liability?
Equity Lifestyle Properties (ELS) reported membership subscription — contract with customer, liability of $208.46M in Q1 2026.
How has Equity Lifestyle Properties's membership subscription — contract with customer, liability changed year-over-year?
Equity Lifestyle Properties's membership subscription — contract with customer, liability decreased by 4.3% year-over-year, from $217.83M to $208.46M.
What is the long-term trend for Equity Lifestyle Properties's membership subscription — contract with customer, liability?
Over 2 years (2023 to 2025), Equity Lifestyle Properties's membership subscription — contract with customer, liability has grown at a 3.9% compound annual growth rate (CAGR), from $795.39M to $858.66M.
What does membership subscription — contract with customer, liability mean?
The total amount of money collected from members for services that have not yet been delivered.
How do you interpret membership subscription — contract with customer, liability?
An increase suggests strong future demand and successful advance sales, while a decrease may indicate slowing membership growth or faster revenue recognition.
How does membership subscription — contract with customer, liability compare across companies?
Common in subscription-based REITs and hospitality firms; peers often report this as deferred revenue or contract liabilities.