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Equity Lifestyle Properties ELS Property Operations — Membership sales and marketing

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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:SellingAndMarketingExpense.

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
Repairs and maintenance30,84929,49555,27452,384
Insurance and other25,37326,05051,01252,039
Real estate taxes21,82621,84543,92643,488
Membership sales and marketing4,5514,0628,3887,993
Cost of ancillary services6,7186,17710,94610,622
Ancillary operating expenses5,7725,56711,02510,431
Property management21,84520,72340,51641,153
Total property operations expenses191,551184,916365,327357,647

Item 1. Financial Statements

FAQ

What is Equity Lifestyle Properties's property operations — membership sales and marketing?
Equity Lifestyle Properties (ELS) reported property operations — membership sales and marketing of $4.55M in Q2 2026.
How has Equity Lifestyle Properties's property operations — membership sales and marketing changed year-over-year?
Equity Lifestyle Properties's property operations — membership sales and marketing increased by 12.0% year-over-year, from $4.06M to $4.55M.
What is the long-term trend for Equity Lifestyle Properties's property operations — membership sales and marketing?
Over 4 years (2021 to 2025), Equity Lifestyle Properties's property operations — membership sales and marketing has grown at a -9.3% compound annual growth rate (CAGR), from $23.74M to $16.07M.
What does property operations — membership sales and marketing mean?
This metric represents the direct costs associated with acquiring new residents or members and promoting the company's lifestyle communities and marinas. It includes advertising, promotional events, and sales commissions necessary to maintain high occupancy rates. It is a key indicator of the company's investment in growth and customer acquisition.

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