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

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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:ContractWithCustomerLiabilityRevenueRecognized.

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
Line itemSix Months Ended June 30, 2026Six Months Ended June 30, 2025
Distributions of income from unconsolidated joint ventures211147
Proceeds from insurance claims, net(9,190)(405)
Compensation expense related to incentive plans4,3355,009
Revenue recognized from membership upgrade sales upfront payments(7,456)(6,572)
Commission expense related to memberships sales3,3832,271
Changes in assets and liabilities:
Manufactured homes, net(30,543)(17,055)
Notes receivable, net5,9496,498

Item 1. Financial Statements

FAQ

What is Equity Lifestyle Properties's membership subscription — contract with customer, liability, revenue recognized?
Equity Lifestyle Properties (ELS) reported membership subscription — contract with customer, liability, revenue recognized of $3.76M in Q2 2026.
How has Equity Lifestyle Properties's membership subscription — contract with customer, liability, revenue recognized changed year-over-year?
Equity Lifestyle Properties's membership subscription — contract with customer, liability, revenue recognized increased by 12.1% year-over-year, from $3.35M to $3.76M.
What is the long-term trend for Equity Lifestyle Properties's membership subscription — contract with customer, liability, revenue recognized?
Over 3 years (2021 to 2025), Equity Lifestyle Properties's membership subscription — contract with customer, liability, revenue recognized has grown at a 7.1% compound annual growth rate (CAGR), from $11.19M to $13.74M.
What does membership subscription — contract with customer, liability, revenue recognized mean?
This represents the portion of previously deferred membership subscription liabilities that has been converted into recognized revenue during the current reporting period. It reflects the actual delivery of services or access to members, serving as a measure of realized performance for the subscription segment. This metric is essential for understanding the timing and velocity of revenue conversion from the company's membership base.

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