Sun Communities (SUI) Financials

$122.44 -0.74 (-0.60%)

Closing price 04/15/2025 03:59 PM Eastern

Extended Trading

$122.58 +0.14 (+0.11%)

As of 04/15/2025 04:05 PM Eastern

Annual Income Statements for Sun Communities

This table shows Sun Communities' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	137	17	65	105	160	132	380	242	-213	89
Consolidated Net Income / (Loss)	172	31	82	120	177	147	414	264	-209	107
Net Income / (Loss) Continuing Operations	172	31	82	120	177	147	414	317	-193	107
Total Pre-Tax Income	39	36	82	120	178	147	415	323	-202	72
Total Operating Income	150	158	73	130	140	136	285	313	-107	-88
Total Gross Profit	480	579	575	688	717	784	1,163	1,451	1,538	1,519
Total Revenue	675	834	983	1,127	1,264	1,398	2,273	2,970	3,225	3,221
Operating Revenue	675	834	983	1,127	1,264	1,398	2,273	2,970	3,225	3,221
Total Cost of Revenue	195	255	407	439	547	614	1,109	1,519	1,686	1,702
Operating Cost of Revenue	195	255	407	439	547	614	1,109	1,519	1,686	1,702
Total Operating Expenses	330	421	503	558	577	649	879	1,139	1,645	1,608
Selling, General & Admin Expense	72	97	96	135	93	110	181	257	272	295
Depreciation Expense	178	222	262	287	328	377	523	602	660	681
Other Operating Expenses / (Income)	60	70	136	4.88	4.70	9.40	171	4.40	0.00	1.40
Impairment Charge	-	-	-	0.09	-	-	0.00	3.00	380	252
Restructuring Charge	18	32	-	0.00	0.00	23	1.40	25	3.00	0.40
Other Special Charges / (Income)	2.80	-	8.35	131	151	130	2.20	247	330	378
Total Other Income / (Expense), net	-111	-122	8.98	-9.30	38	11	130	11	-95	160
Interest Expense	111	122	-	-	-	-	-	4.20	3.30	0.00
Interest & Investment Income	-	-	-	0.79	1.37	1.70	4.00	2.90	16	9.50
Other Income / (Expense), net	0.00	-	8.98	-10	37	9.30	126	12	-108	151
Income Tax Expense	0.16	0.28	-0.14	0.09	0.87	-0.80	1.30	6.10	-8.40	-35
Other Adjustments to Consolidated Net Income / (Loss)	-	0.50	-	0.00	-	-	-	-53	-16	0.00
Preferred Stock Dividends Declared	23	14	12	6.22	7.35	6.90	12	11	12	13
Net Income / (Loss) Attributable to Noncontrolling Interest	10	0.15	5.06	8.44	9.77	8.90	22	11	-8.10	5.30
Basic Earnings per Share	$2.53	$0.27	$0.85	$1.29	$1.80	$1.34	$3.36	$2.00	($1.71)	$0.71
Weighted Average Basic Shares Outstanding	53.69M	65.86M	76.08M	81.39M	88.46M	97.50M	112.60M	120.20M	123.40M	124.50M
Diluted Earnings per Share	$2.52	$0.26	$0.85	$1.29	$1.80	$1.34	$3.36	$2.00	($1.72)	$0.71
Weighted Average Diluted Shares Outstanding	53.70M	66.32M	76.71M	82.04M	88.92M	97.50M	115.10M	122.90M	123.80M	127.20M
Weighted Average Basic & Diluted Shares Outstanding	58.39M	73.51M	79.74M	82.04M	88.92M	97.52M	115.96M	124.10M	124.41M	127.38M

This table shows Sun Communities' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	163	4.70	-45	-208	120	-81	-27	52	289	-224
Consolidated Net Income / (Loss)	177	4.00	-48	-212	136	-84	-26	58	305	-231
Net Income / (Loss) Continuing Operations	177	57	-48	-218	129	-57	-26	58	306	-232
Total Pre-Tax Income	181	55	-49	-220	132	-64	-29	60	298	-257
Total Operating Income	170	11	-17	-221	143	-11	-50	59	121	-219
Total Gross Profit	477	307	302	684	787	-234	313	401	457	348
Total Revenue	933	674	651	863	983	727	671	864	940	746
Operating Revenue	933	674	651	863	983	727	671	864	940	746
Total Cost of Revenue	455	368	350	180	196	961	359	463	483	398
Operating Cost of Revenue	455	368	350	180	196	961	359	463	483	398
Total Operating Expenses	308	296	319	904	646	-224	362	342	336	567
Selling, General & Admin Expense	69	70	64	63	67	78	79	65	75	77
Depreciation Expense	150	154	156	164	163	178	165	173	172	170
Other Operating Expenses / (Income)	17	-15	1.00	361	368	-730	0.60	2.30	0.80	-2.30
Impairment Charge	1.60	-	18	316	46	-	21	12	0.20	220
Other Special Charges / (Income)	62	85	78	0.70	2.00	249	97	90	88	103
Total Other Income / (Expense), net	11	44	-32	1.00	-11	-53	20	0.80	177	-38
Interest & Investment Income	-	-	-0.20	-	-	-	1.40	3.00	2.10	3.00
Other Income / (Expense), net	11	45	-31	1.90	-10	-68	19	-2.20	175	-41
Income Tax Expense	3.70	-2.50	-0.70	-2.30	2.30	-7.70	-3.60	1.60	-8.00	-25
Preferred Stock Dividends Declared	2.50	2.40	2.40	3.20	3.40	3.30	3.20	3.20	3.20	3.20
Net Income / (Loss) Attributable to Noncontrolling Interest	12	-3.10	-5.80	-7.80	12	-6.60	-1.30	3.10	13	-9.80
Basic Earnings per Share	$1.32	$0.06	($0.36)	($1.67)	$0.97	($0.65)	($0.22)	$0.42	$2.31	($1.80)
Weighted Average Basic Shares Outstanding	122.40M	120.20M	123.30M	123.40M	123.50M	123.40M	123.60M	123.70M	124M	124.50M
Diluted Earnings per Share	$1.32	$0.06	($0.36)	($1.68)	$0.97	($0.65)	($0.22)	$0.42	$2.31	($1.80)
Weighted Average Diluted Shares Outstanding	122.80M	122.90M	126.20M	126.10M	123.50M	123.80M	126.60M	123.70M	124M	127.20M
Weighted Average Basic & Diluted Shares Outstanding	123.89M	124.10M	124.41M	124.42M	124.45M	124.41M	124.63M	124.67M	127.39M	127.38M

This table details how cash moves in and out of Sun Communities' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-38	-34	-1.80	39	-27	58	-14	21	-49	22
Net Cash From Operating Activities	182	241	258	363	477	543	754	735	791	861
Net Cash From Continuing Operating Activities	180	241	258	363	477	562	754	735	791	861
Net Income / (Loss) Continuing Operations	170	31	82	120	177	147	414	264	-209	107
Consolidated Net Income / (Loss)	170	31	82	120	177	147	414	264	-209	107
Depreciation Expense	175	219	256	274	314	372	512	576	642	667
Non-Cash Adjustments To Reconcile Net Income	-142	-24	-34	13	-9.65	13	-151	101	519	81
Changes in Operating Assets and Liabilities, net	-12	23	-43	-36	3.70	30	-18	-206	-161	5.50
Net Cash From Investing Activities	-413	-1,615	-402	-734	-1,010	-2,487	-2,338	-3,063	-920	-267
Net Cash From Continuing Investing Activities	-413	-1,615	-402	-734	-1,010	-2,487	-2,338	-3,063	-920	-267
Acquisitions	-2.26	-	-	-	-	-1,946	-1,649	-2,211	-52	-70
Purchase of Investments	-	0.00	0.00	-85	-61	-47	-72	-51	-40	-22
Sale of Property, Plant & Equipment	101	89	8.58	56	61	68	276	144	62	444
Sale and/or Maturity of Investments	7.50	4.71	-	-	-	-	0.00	0.00	104	0.00
Other Investing Activities, net	-2.09	3.11	-1.30	5.07	-538	-23	-893	-944	-994	-619
Net Cash From Financing Activities	193	1,339	142	410	506	2,001	1,570	2,349	80	-572
Net Cash From Continuing Financing Activities	529	1,320	142	410	506	2,001	1,570	2,349	80	-572
Repayment of Debt	-632	0.00	-854	-1,759	-4,461	-1,612	-4,054	-2,940	-1,954	-3,561
Repurchase of Common Equity	-	-	-	-	-	-	1,076	1,210	-0.60	361
Payment of Dividends	162	194	-224	-243	-277	-313	-391	-434	-476	-493
Issuance of Debt	805	2,307	846	1,793	4,805	2,078	4,965	4,533	2,524	3,131
Other Financing Activities, net	-	20	-25	-	0.00	-13	-28	-19	-13	-9.80
Cash Interest Paid	103	125	127	129	140	140	151	223	330	342
Cash Income Taxes Paid	0.31	0.45	-0.19	0.46	0.95	1.10	1.30	5.80	21	3.40

This table details how cash moves in and out of Sun Communities' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-226	666	-210	-262	-229	653	-153	-340	-213	727
Net Cash From Operating Activities	158	45	195	255	223	118	243	311	189	118
Net Cash From Continuing Operating Activities	-	735	0.00	-	-	791	0.00	-	-	861
Net Income / (Loss) Continuing Operations	-	264	0.00	-	-	-209	0.00	-	-	107
Changes in Operating Assets and Liabilities, net	-	-	-	-	-	-	0.00	-	-	5.50
Net Cash From Investing Activities	-265	-322	-322	-260	-236	-102	-127	-193	154	-102
Net Cash From Continuing Investing Activities	-265	-322	-322	-260	-236	-102	-127	-193	154	-102
Acquisitions	-41	-71	-47	-1.00	-3.20	-1.00	-29	-29	-17	4.80
Purchase of Investments	-263	643	-2.70	-9.40	-22	-5.80	-4.30	-1.40	-8.10	-8.60
Sale of Property, Plant & Equipment	41	20	16	19	24	3.50	2.00	-2.00	1.60	442
Other Investing Activities, net	-7.20	-902	-288	-268	-236	-202	-96	-161	178	-540
Net Cash From Financing Activities	39	253	112	-2.20	6.90	-36	-25	-147	-367	-33
Net Cash From Continuing Financing Activities	39	253	112	-2.20	6.90	-36	-25	-147	-367	-33
Repayment of Debt	-828	-473	-975	-244	-171	-565	-1,652	-340	-1,173	-396
Repurchase of Common Equity	275	-0.20	0.00	-0.20	-0.10	-0.30	-0.30	-0.30	362	0.10
Payment of Dividends	-117	-106	-114	-121	-120	-121	-121	-123	-124	-125
Issuance of Debt	713	838	1,209	364	299	653	1,756	318	568	489
Other Financing Activities, net	-3.50	4.10	-11	-1.10	-0.10	-0.60	-7.60	-1.30	-0.20	-0.70
Cash Interest Paid	58	68	73	80	89	87	87	82	98	74
Cash Income Taxes Paid	2.40	1.70	10	5.00	2.70	2.80	0.60	2.00	0.40	0.40

This table presents Sun Communities' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	4,182	5,871	6,112	6,710	7,802	11,207	13,494	17,084	16,941	16,549
Total Current Assets	93	89	174	222	158	314	187	617	0.00	0.00
Short-Term Investments	-	-	-	-	-	-	187	-	-	0.00
Plant, Property, & Equipment, net	3,238	4,980	5,117	5,547	6,605	9,078	11,426	13,326	13,699	17,914
Plant, Property & Equipment, gross	4,090	6,007	6,355	6,989	8,292	11,047	13,763	16,065	16,972	17,913
Accumulated Depreciation	852	1,027	1,238	1,443	1,687	1,969	2,337	2,739	3,273	3,741
Total Noncurrent Assets	851	802	821	892	1,039	1,814	13,307	3,141	2,820	1,892
Noncurrent Note & Lease Receivables	140	144	128	107	95	-	470	0.00	56	51
Goodwill	-	-	-	-	67	429	495	1,018	733	551
Intangible Assets	-	-	-	-	-	306	307	402	370	339
Other Noncurrent Operating Assets	711	658	693	785	877	1,080	12,035	1,721	1,661	951
Total Liabilities & Shareholders' Equity	4,182	5,871	6,112	6,710	7,802	11,207	13,494	17,084	16,941	16,549
Total Liabilities	2,562	3,442	3,405	3,479	3,848	5,315	6,475	8,993	9,507	9,097
Total Current Liabilities	41	52	187	303	199	235	238	508	432	310
Accounts Payable	-	-	-	106	127	148	238	396	314	310
Total Noncurrent Liabilities	2,521	3,390	3,218	3,176	3,705	5,165	6,237	8,564	9,165	8,787
Long-Term Debt	2,150	2,920	2,909	2,944	3,373	4,757	5,672	3,218	3,479	3,263
Noncurrent Deferred Revenue	-	-	-	-	133	188	243	352	345	331
Other Noncurrent Operating Liabilities	371	470	309	232	199	221	323	4,994	5,342	5,192
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	-	-	0.00	0.00	0.00
Redeemable Noncontrolling Interest	83	67	43	64	78	-	289	203	261	260
Total Equity & Noncontrolling Interests	1,537	2,362	2,664	3,167	3,876	5,627	6,731	7,889	7,173	7,193
Total Preferred & Common Equity	1,456	2,296	2,598	3,107	3,820	5,525	6,624	7,810	7,083	7,082
Total Common Equity	1,456	2,296	2,598	3,107	3,820	5,790	6,624	7,810	7,083	7,082
Common Stock	2,320	3,322	3,759	4,400	5,214	7,089	8,177	9,551	9,468	9,866
Accumulated Other Comprehensive Income / (Loss)	0.00	-3.18	1.10	-4.50	-1.33	3.18	3.10	-9.90	12	-7.90
Other Equity Adjustments	-864	-1,023	-1,162	-1,288	-1,393	-1,302	-1,556	-1,731	-2,398	-2,776
Noncontrolling Interest	81	67	65	60	56	16	107	79	90	110

This table presents Sun Communities' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	16,485	17,364	17,561	17,605	17,113	17,011	17,085
Total Current Assets	212	717	733	113	469	0.00	0.00
Plant, Property, & Equipment, net	16,224	13,178	13,293	17,136	13,702	18,017	18,127
Plant, Property & Equipment, gross	16,224	16,046	16,305	17,136	17,113	18,017	18,127
Accumulated Depreciation	2,612	2,868	3,011	3,145	3,411	3,552	3,636
Total Noncurrent Assets	2,660	3,469	3,535	3,502	2,942	2,546	2,594
Noncurrent Note & Lease Receivables	511	-	-	832	57	472	547
Goodwill	982	1,093	1,104	1,084	731	732	743
Intangible Assets	403	393	385	375	362	354	351
Other Noncurrent Operating Assets	764	1,984	2,045	1,211	1,793	989	953
Total Liabilities & Shareholders' Equity	16,485	17,364	17,561	17,605	17,113	17,011	17,085
Total Liabilities	8,355	9,295	9,475	9,465	9,830	9,782	9,246
Total Current Liabilities	504	459	472	498	490	406	513
Accounts Payable	393	341	354	380	370	406	391
Dividends Payable	111	118	118	118	120	-	122
Total Noncurrent Liabilities	7,851	8,916	9,084	8,967	9,425	9,375	8,733
Long-Term Debt	6,711	7,462	7,614	7,665	4,350	7,853	7,325
Noncurrent Deferred Revenue	-	434	431	373	480	423	382
Other Noncurrent Operating Liabilities	1,140	1,020	1,039	929	4,594	1,099	1,025
Commitments & Contingencies	-	-	-	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	207	299	298	305	260	260	263
Total Equity & Noncontrolling Interests	7,923	7,770	7,789	7,836	7,024	6,970	7,576
Total Preferred & Common Equity	7,839	7,690	7,708	7,740	6,939	6,884	7,456
Total Common Equity	7,839	7,690	7,708	7,740	6,939	6,884	7,456
Common Stock	9,538	9,558	9,569	9,583	9,473	9,482	9,855
Accumulated Other Comprehensive Income / (Loss)	-70	7.70	38	5.20	6.70	6.00	34
Other Equity Adjustments	-1,629	-1,875	-1,898	-1,848	-2,541	-2,604	-2,433
Noncontrolling Interest	84	80	80	96	85	86	121

This table displays calculated financial ratios and metrics derived from Sun Communities' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	38.99%	23.57%	17.85%	14.68%	12.18%	10.62%	62.53%	30.67%	8.58%	-0.11%
EBITDA Growth	30.20%	16.89%	-9.35%	15.10%	25.24%	7.18%	78.00%	-2.09%	-52.50%	70.50%
EBIT Growth	35.54%	5.76%	-48.38%	46.24%	48.07%	-18.08%	183.71%	-21.04%	-165.99%	129.09%
NOPAT Growth	37.98%	5.35%	-53.62%	77.77%	7.51%	-2.04%	108.24%	8.03%	-124.31%	-76.48%
Net Income Growth	419.56%	-81.75%	159.98%	46.86%	47.62%	-16.90%	180.73%	-36.25%	-179.26%	151.22%
EPS Growth	366.67%	-89.68%	226.92%	51.76%	39.53%	-25.56%	150.75%	-40.48%	-186.00%	141.28%
Operating Cash Flow Growth	36.71%	32.48%	6.85%	40.75%	31.29%	13.96%	38.71%	-2.48%	7.57%	8.92%
Free Cash Flow Firm Growth	-84.82%	-38.40%	86.73%	-72.70%	-219.52%	-185.97%	-325.19%	198.52%	-94.20%	-579.29%
Invested Capital Growth	47.42%	43.21%	4.97%	8.24%	19.84%	43.78%	126.67%	-52.60%	-7.25%	32.83%
Revenue Q/Q Growth	6.83%	6.43%	2.44%	2.92%	2.25%	6.26%	7.48%	4.65%	1.65%	0.60%
EBITDA Q/Q Growth	9.37%	2.66%	-26.14%	29.70%	1.89%	-1.72%	1.82%	3.41%	-14.29%	-20.07%
EBIT Q/Q Growth	17.05%	3.88%	-59.36%	534.53%	8.57%	-13.54%	0.77%	16.72%	-56.69%	-72.22%
NOPAT Q/Q Growth	42.92%	4.66%	-64.21%	591.39%	-7.33%	-11.02%	11.80%	-2.36%	-19.93%	-205.16%
Net Income Q/Q Growth	195.26%	-76.16%	12.11%	0.28%	12.72%	-12.43%	1.26%	-3.97%	-72.95%	-57.82%
EPS Q/Q Growth	358.18%	-86.46%	16.44%	0.78%	13.21%	-15.19%	2.44%	-4.31%	-70.30%	-61.83%
Operating Cash Flow Q/Q Growth	6.69%	6.95%	-6.97%	9.03%	3.59%	0.07%	2.55%	-6.67%	10.10%	0.05%
Free Cash Flow Firm Q/Q Growth	32.04%	2.20%	-75.57%	-106.88%	81.52%	-18.18%	-608.98%	338.75%	144.90%	-2,363.31%
Invested Capital Q/Q Growth	1.34%	0.44%	-0.40%	662.57%	8.32%	10.70%	105.64%	-34.64%	-44.51%	-26.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.14%	69.43%	58.55%	61.02%	56.71%	56.10%	51.19%	48.87%	47.70%	47.17%
EBITDA Margin	46.79%	44.25%	34.04%	34.17%	38.15%	36.96%	40.48%	30.33%	13.27%	22.64%
Operating Margin	22.18%	18.98%	7.40%	11.50%	11.06%	9.70%	12.53%	10.53%	-3.30%	-2.74%
EBIT Margin	22.18%	18.98%	8.31%	10.60%	13.99%	10.36%	18.09%	10.93%	-6.64%	1.93%
Profit (Net Income) Margin	25.56%	3.77%	8.33%	10.66%	14.03%	10.54%	18.21%	8.88%	-6.48%	3.33%
Tax Burden Percent	445.03%	87.59%	100.17%	99.93%	99.51%	100.55%	99.69%	81.60%	103.77%	149.16%
Interest Burden Percent	25.90%	22.71%	100.00%	100.66%	100.78%	101.17%	100.97%	99.60%	94.07%	115.25%
Effective Tax Rate	0.41%	0.79%	-0.17%	0.07%	0.49%	-0.55%	0.31%	1.89%	0.00%	-49.16%
Return on Invested Capital (ROIC)	4.72%	3.43%	1.32%	2.20%	2.07%	1.52%	1.65%	1.74%	-0.68%	-1.07%
ROIC Less NNEP Spread (ROIC-NNEP)	5.96%	-1.48%	1.62%	1.88%	3.28%	1.79%	2.84%	1.31%	-4.93%	3.89%
Return on Net Nonoperating Assets (RNNOA)	8.76%	-1.87%	1.87%	1.85%	2.87%	1.55%	4.90%	1.75%	-2.01%	2.51%
Return on Equity (ROE)	13.48%	1.55%	3.19%	4.05%	4.94%	3.08%	6.54%	3.49%	-2.69%	1.44%
Cash Return on Invested Capital (CROIC)	-33.61%	-32.10%	-3.53%	-5.72%	-15.98%	-34.40%	-75.91%	73.12%	6.84%	-29.28%
Operating Return on Assets (OROA)	4.20%	3.15%	1.36%	1.86%	2.44%	1.52%	3.33%	2.12%	-1.26%	0.37%
Return on Assets (ROA)	4.85%	0.63%	1.37%	1.87%	2.44%	1.55%	3.35%	1.73%	-1.23%	0.64%
Return on Common Equity (ROCE)	12.29%	1.44%	3.04%	3.89%	4.76%	3.09%	6.42%	3.34%	-2.58%	1.37%
Return on Equity Simple (ROE_SIMPLE)	11.85%	1.37%	3.15%	3.87%	4.64%	2.67%	6.25%	3.38%	-2.95%	1.51%
Net Operating Profit after Tax (NOPAT)	149	157	73	129	139	136	284	307	-75	-132
NOPAT Margin	22.09%	18.83%	7.41%	11.49%	11.01%	9.75%	12.49%	10.33%	-2.31%	-4.08%
Net Nonoperating Expense Percent (NNEP)	-1.25%	4.91%	-0.30%	0.32%	-1.22%	-0.27%	-1.19%	0.43%	4.25%	-4.97%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	2.76%	-0.70%	-1.26%
Cost of Revenue to Revenue	28.86%	30.57%	41.45%	38.98%	43.29%	43.90%	48.81%	51.13%	52.30%	52.83%
SG&A Expenses to Revenue	10.74%	11.66%	9.81%	12.00%	7.34%	7.83%	7.98%	8.67%	8.44%	9.17%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	48.96%	50.45%	51.15%	49.52%	45.64%	46.40%	38.66%	38.34%	51.00%	49.91%
Earnings before Interest and Taxes (EBIT)	150	158	82	119	177	145	411	325	-214	62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	316	369	334	385	482	517	920	901	428	729
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.05	2.01	2.41	2.48	3.20	2.37	3.44	2.14	2.28	2.21
Price to Tangible Book Value (P/TBV)	2.05	2.01	2.41	2.48	3.25	2.71	3.91	2.61	2.70	2.53
Price to Revenue (P/Rev)	4.42	5.54	6.38	6.84	9.66	9.80	10.02	5.62	5.01	4.86
Price to Earnings (P/E)	21.70	265.93	96.43	73.04	76.19	104.15	59.89	69.02	0.00	176.01
Dividend Yield	4.76%	4.11%	3.39%	3.18%	2.23%	2.27%	1.69%	2.61%	2.87%	3.06%
Earnings Yield	4.61%	0.38%	1.04%	1.37%	1.31%	0.96%	1.67%	1.45%	0.00%	0.57%
Enterprise Value to Invested Capital (EV/IC)	1.39	1.42	1.64	1.75	2.14	1.74	1.20	1.78	1.90	1.38
Enterprise Value to Revenue (EV/Rev)	7.78	9.19	9.44	9.51	12.43	13.15	12.61	6.80	6.19	5.99
Enterprise Value to EBITDA (EV/EBITDA)	16.62	20.77	27.73	27.82	32.60	35.58	31.15	22.43	46.68	26.46
Enterprise Value to EBIT (EV/EBIT)	35.07	48.43	113.57	89.66	88.86	126.89	69.69	62.24	0.00	309.77
Enterprise Value to NOPAT (EV/NOPAT)	35.22	48.82	127.39	82.74	112.93	134.86	100.92	65.87	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	28.79	31.74	35.96	29.50	32.97	33.84	38.02	27.49	25.26	22.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.57	26.70	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.33	1.20	1.07	0.91	0.85	0.85	0.81	0.40	0.47	0.44
Long-Term Debt to Equity	1.33	1.20	1.07	0.91	0.85	0.85	0.81	0.40	0.47	0.44
Financial Leverage	1.47	1.26	1.15	0.99	0.87	0.87	1.73	1.33	0.41	0.65
Leverage Ratio	2.78	2.48	2.33	2.16	2.02	1.98	1.95	2.02	2.19	2.25
Compound Leverage Factor	0.72	0.56	2.33	2.17	2.04	2.01	1.97	2.02	2.06	2.59
Debt to Total Capital	57.04%	54.59%	51.80%	47.68%	46.04%	45.81%	44.69%	28.45%	31.88%	30.45%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	57.04%	54.59%	51.80%	47.68%	46.04%	45.81%	44.69%	28.45%	31.88%	30.45%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.34%	2.50%	1.93%	2.01%	1.83%	0.15%	3.12%	2.49%	3.22%	3.45%
Common Equity to Total Capital	38.62%	42.92%	46.27%	50.31%	52.13%	55.75%	52.19%	69.06%	64.90%	66.09%
Debt to EBITDA	6.81	7.91	8.70	7.65	7.00	9.20	6.17	3.57	8.13	4.47
Net Debt to EBITDA	6.67	7.89	8.67	7.48	7.00	9.03	5.96	3.57	8.13	4.47
Long-Term Debt to EBITDA	6.81	7.91	8.70	7.65	7.00	9.20	6.17	3.57	8.13	4.47
Debt to NOPAT	14.43	18.60	39.94	22.74	24.24	34.89	19.98	10.49	-46.67	-24.80
Net Debt to NOPAT	14.12	18.54	39.80	22.26	24.24	34.21	19.32	10.49	-46.67	-24.80
Long-Term Debt to NOPAT	14.43	18.60	39.94	22.74	24.24	34.89	19.98	10.49	-46.67	-24.80
Altman Z-Score	0.99	1.04	1.31	1.54	2.13	1.72	2.37	1.36	1.14	1.22
Noncontrolling Interest Sharing Ratio	8.82%	7.34%	4.71%	3.91%	3.60%	-0.29%	1.84%	4.48%	4.08%	4.85%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.26	1.72	0.93	0.73	0.79	1.34	0.79	1.22	0.00	0.00
Quick Ratio	2.26	1.72	0.93	0.73	0.79	0.94	0.79	1.22	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,062	-1,470	-195	-337	-1,076	-3,078	-13,089	12,895	748	-3,585
Operating Cash Flow to CapEx	43.78%	14.88%	64.44%	55.54%	115.90%	115.47%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-9.58	-12.02	0.00	0.00	0.00	0.00	0.00	3,070.19	226.68	0.00
Operating Cash Flow to Interest Expense	1.64	1.97	0.00	0.00	0.00	0.00	0.00	174.98	239.55	0.00
Operating Cash Flow Less CapEx to Interest Expense	-2.11	-11.29	0.00	0.00	0.00	0.00	0.00	209.14	258.42	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.19	0.17	0.16	0.18	0.17	0.15	0.18	0.19	0.19	0.19
Accounts Receivable Turnover	13.51	12.91	8.03	6.96	7.95	7.37	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.25	0.20	0.19	0.21	0.21	0.18	0.22	0.24	0.24	0.20
Accounts Payable Turnover	0.00	0.00	0.00	0.00	4.69	4.45	5.75	4.79	4.75	5.46
Days Sales Outstanding (DSO)	27.01	28.27	45.45	52.41	45.91	49.54	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	77.89	81.97	63.49	76.17	76.84	66.90
Cash Conversion Cycle (CCC)	27.01	28.27	45.45	52.41	-31.98	-32.43	-63.49	-76.17	-76.84	-66.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,766	5,393	5,660	6,127	7,342	10,557	23,930	11,342	10,519	13,973
Invested Capital Turnover	0.21	0.18	0.18	0.19	0.19	0.16	0.13	0.17	0.30	0.26
Increase / (Decrease) in Invested Capital	1,211	1,627	268	466	1,216	3,215	13,373	-12,588	-823	3,454
Enterprise Value (EV)	5,248	7,664	9,277	10,710	15,717	18,387	28,651	20,203	19,970	19,299
Market Capitalization	2,980	4,619	6,270	7,705	12,210	13,706	22,771	16,704	16,140	15,665
Book Value per Share	$26.69	$31.43	$32.75	$35.98	$42.12	$58.91	$57.12	$63.04	$56.92	$55.59
Tangible Book Value per Share	$26.69	$31.43	$32.75	$35.98	$41.38	$51.44	$50.20	$51.57	$48.06	$48.60
Total Capital	3,769	5,349	5,615	6,175	7,327	10,384	12,691	11,309	10,913	10,716
Total Debt	2,150	2,920	2,909	2,944	3,373	4,757	5,672	3,218	3,479	3,263
Total Long-Term Debt	2,150	2,920	2,909	2,944	3,373	4,757	5,672	3,218	3,479	3,263
Net Debt	2,105	2,911	2,898	2,882	3,373	4,664	5,485	3,218	3,479	3,263
Capital Expenditures (CapEx)	416	1,622	400	654	411	471	-276	-144	-62	-444
Debt-free, Cash-free Net Working Capital (DFCFNWC)	6.71	29	-24	-143	-41	-14	-238	110	-432	-310
Debt-free Net Working Capital (DFNWC)	52	37	-14	-81	-41	79	-51	110	-432	-310
Net Working Capital (NWC)	52	37	-14	-81	-41	79	-51	110	-432	-310
Net Nonoperating Expense (NNE)	-23	126	-9.00	9.30	-38	-11	-130	43	135	-239
Net Nonoperating Obligations (NNO)	2,146	2,963	2,954	2,896	3,389	4,930	16,910	3,250	3,085	6,520
Total Depreciation and Amortization (D&A)	166	211	253	266	305	372	509	576	642	667
Debt-free, Cash-free Net Working Capital to Revenue	0.99%	3.51%	-2.44%	-12.70%	-3.25%	-0.99%	-10.45%	3.69%	-13.39%	-9.63%
Debt-free Net Working Capital to Revenue	7.68%	4.49%	-1.41%	-7.18%	-3.25%	5.64%	-2.23%	3.69%	-13.39%	-9.63%
Net Working Capital to Revenue	7.68%	4.49%	-1.41%	-7.18%	-3.25%	5.64%	-2.23%	3.69%	-13.39%	-9.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.53	$0.27	$0.85	$1.29	$1.80	$1.34	$3.36	$2.00	($1.71)	$0.71
Adjusted Weighted Average Basic Shares Outstanding	53.69M	65.86M	76.08M	81.39M	88.46M	97.52M	112.58M	120.20M	123.40M	124.50M
Adjusted Diluted Earnings per Share	$2.52	$0.26	$0.85	$1.29	$1.80	$1.34	$3.36	$2.00	($1.72)	$0.71
Adjusted Weighted Average Diluted Shares Outstanding	53.70M	66.32M	76.71M	82.04M	88.92M	97.52M	115.14M	122.90M	123.80M	127.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	58.39M	73.51M	79.74M	86.38M	93.32M	107.62M	115.96M	124.10M	124.41M	127.38M
Normalized Net Operating Profit after Tax (NOPAT)	170	189	57	260	290	202	287	577	424	379
Normalized NOPAT Margin	25.13%	22.63%	5.77%	23.07%	22.93%	14.45%	12.65%	19.41%	13.16%	11.78%
Pre Tax Income Margin	5.74%	4.31%	8.31%	10.67%	14.10%	10.48%	18.27%	10.89%	-6.25%	2.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.35	1.29	0.00	0.00	0.00	0.00	0.00	77.29	-64.91	0.00
NOPAT to Interest Expense	1.34	1.28	0.00	0.00	0.00	0.00	0.00	73.02	-22.59	0.00
EBIT Less CapEx to Interest Expense	-2.41	-11.97	0.00	0.00	0.00	0.00	0.00	111.45	-46.03	0.00
NOPAT Less CapEx to Interest Expense	-2.41	-11.98	0.00	0.00	0.00	0.00	0.00	107.19	-3.71	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-94.21%	-615.61%	274.37%	202.08%	155.99%	212.42%	94.44%	164.59%	-227.83%	460.04%
Augmented Payout Ratio	-94.21%	-615.61%	274.37%	202.08%	155.99%	212.42%	-165.51%	-293.93%	-228.12%	122.88%

This table displays calculated financial ratios and metrics derived from Sun Communities' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	36.29%	24.32%	18.72%	6.03%	5.44%	7.77%	3.09%	0.07%	-4.41%	2.64%
EBITDA Growth	-12.78%	35.90%	-29.41%	-123.32%	-10.71%	-52.89%	26.22%	519.34%	58.78%	-191.09%
EBIT Growth	-28.21%	479.38%	-1,842.86%	-357.83%	-26.73%	-240.39%	37.50%	126.04%	123.57%	-229.78%
NOPAT Growth	13.67%	-49.96%	-189.16%	-251.41%	-15.61%	-166.34%	-184.48%	137.28%	-11.10%	-1,911.01%
Net Income Growth	-29.23%	-73.15%	-3,320.00%	-361.01%	-23.39%	-2,205.00%	47.21%	127.52%	125.07%	-174.35%
EPS Growth	-34.00%	-60.00%	-3,700.00%	-375.41%	-26.52%	-1,183.33%	38.89%	125.00%	138.14%	-176.92%
Operating Cash Flow Growth	-14.84%	-53.79%	-13.82%	-16.62%	41.32%	160.75%	24.68%	21.89%	-15.16%	0.34%
Free Cash Flow Firm Growth	-183.97%	194.38%	90.95%	120.29%	73.62%	-93.53%	1,089.32%	-352.41%	110.78%	-542.62%
Invested Capital Growth	49.11%	-52.60%	2.49%	-7.52%	9.24%	-7.25%	-25.05%	18.40%	-0.18%	32.83%
Revenue Q/Q Growth	14.53%	-27.70%	-3.43%	32.59%	13.89%	-26.10%	-7.64%	28.71%	8.78%	-20.64%
EBITDA Q/Q Growth	40.60%	-36.53%	-29.78%	-151.31%	638.32%	-66.51%	345.09%	70.47%	103.83%	-119.21%
EBIT Q/Q Growth	112.84%	-68.90%	-3,385.71%	-348.57%	160.48%	-159.59%	86.89%	286.89%	419.30%	-187.91%
NOPAT Q/Q Growth	62.65%	-93.07%	-167.17%	-1,168.97%	190.65%	-105.45%	65.43%	266.30%	116.16%	-223.19%
Net Income Q/Q Growth	117.71%	-97.74%	-1,307.50%	-339.34%	163.90%	-162.09%	80.23%	329.02%	422.60%	-175.69%
EPS Q/Q Growth	116.39%	-95.45%	-700.00%	-366.67%	157.74%	-167.01%	77.78%	290.91%	450.00%	-177.92%
Operating Cash Flow Q/Q Growth	-48.48%	-71.42%	331.26%	31.31%	-12.69%	-47.26%	106.21%	28.37%	-39.22%	-37.63%
Free Cash Flow Firm Q/Q Growth	-0.13%	327.06%	-103.10%	387.79%	-230.16%	155.68%	202.72%	-173.43%	105.56%	-2,385.16%
Invested Capital Q/Q Growth	1.96%	-34.64%	37.27%	1.09%	20.44%	-44.51%	-22.24%	59.70%	1.54%	-26.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.17%	45.48%	46.30%	79.20%	80.06%	-32.24%	46.55%	46.44%	48.66%	46.68%
EBITDA Margin	35.43%	31.10%	16.40%	-6.35%	30.00%	13.60%	20.08%	26.60%	49.84%	-12.07%
Operating Margin	18.18%	1.63%	-2.67%	-25.57%	14.50%	-1.50%	-7.37%	6.85%	12.91%	-29.39%
EBIT Margin	19.38%	8.33%	-7.49%	-25.35%	13.46%	-10.86%	-4.54%	6.60%	31.49%	-34.88%
Profit (Net Income) Margin	18.98%	0.59%	-7.42%	-24.58%	13.79%	-11.59%	-3.80%	6.76%	32.47%	-30.97%
Tax Burden Percent	97.95%	7.29%	98.57%	96.54%	103.04%	130.95%	87.63%	97.33%	102.38%	89.81%
Interest Burden Percent	100.00%	97.69%	100.41%	100.41%	99.40%	81.50%	95.41%	105.26%	100.71%	98.85%
Effective Tax Rate	2.05%	-4.55%	0.00%	0.00%	1.75%	0.00%	0.00%	2.67%	-2.68%	0.00%
Return on Invested Capital (ROIC)	3.49%	0.29%	-0.37%	-3.41%	2.49%	-0.31%	-1.23%	1.26%	2.24%	-5.41%
ROIC Less NNEP Spread (ROIC-NNEP)	3.65%	0.21%	-0.83%	-4.10%	2.44%	-2.73%	-1.08%	1.27%	3.89%	-7.03%
Return on Net Nonoperating Assets (RNNOA)	3.30%	0.28%	-0.87%	-4.33%	3.01%	-1.11%	-0.83%	1.58%	5.33%	-4.53%
Return on Equity (ROE)	6.78%	0.57%	-1.25%	-7.75%	5.50%	-1.42%	-2.06%	2.84%	7.57%	-9.94%
Cash Return on Invested Capital (CROIC)	-37.26%	73.12%	-0.77%	7.55%	-9.18%	6.84%	27.91%	-15.98%	0.84%	-29.28%
Operating Return on Assets (OROA)	3.78%	1.62%	-1.47%	-4.66%	2.51%	-2.06%	-0.86%	1.24%	5.81%	-6.71%
Return on Assets (ROA)	3.71%	0.12%	-1.46%	-4.52%	2.57%	-2.20%	-0.72%	1.27%	5.99%	-5.96%
Return on Common Equity (ROCE)	6.47%	0.55%	-1.18%	-7.37%	5.27%	-1.36%	-1.97%	2.70%	7.20%	-9.46%
Return on Equity Simple (ROE_SIMPLE)	3.50%	0.00%	2.78%	-1.03%	-1.56%	0.00%	-2.68%	1.22%	3.41%	0.00%
Net Operating Profit after Tax (NOPAT)	166	12	-12	-155	140	-7.63	-35	58	125	-153
NOPAT Margin	17.80%	1.71%	-1.87%	-17.90%	14.25%	-1.05%	-5.16%	6.67%	13.25%	-20.57%
Net Nonoperating Expense Percent (NNEP)	-0.16%	0.07%	0.46%	0.68%	0.05%	2.42%	-0.15%	-0.01%	-1.65%	1.61%
Return On Investment Capital (ROIC_SIMPLE)	-	0.10%	-	-	-	-0.07%	-	-	-	-1.47%
Cost of Revenue to Revenue	48.83%	54.52%	53.70%	20.80%	19.94%	132.24%	53.45%	53.56%	51.34%	53.32%
SG&A Expenses to Revenue	7.41%	10.44%	9.84%	7.26%	6.81%	10.77%	11.69%	7.56%	7.96%	10.28%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	32.99%	43.85%	48.97%	104.75%	65.68%	-30.88%	53.93%	39.58%	35.76%	76.07%
Earnings before Interest and Taxes (EBIT)	181	56	-49	-219	132	-79	-31	57	296	-260
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	330	210	107	-55	295	99	135	230	468	-90
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.02	2.14	2.19	2.04	1.85	2.28	2.29	2.18	2.26	2.21
Price to Tangible Book Value (P/TBV)	2.46	2.61	2.71	2.53	2.28	2.70	2.72	2.59	2.65	2.53
Price to Revenue (P/Rev)	5.59	5.62	5.48	5.04	4.51	5.01	4.89	4.62	5.26	4.86
Price to Earnings (P/E)	63.42	69.02	85.75	0.00	0.00	0.00	0.00	234.72	72.47	176.01
Dividend Yield	2.70%	2.61%	2.63%	2.86%	3.19%	2.87%	2.92%	3.11%	2.77%	3.06%
Earnings Yield	1.58%	1.45%	1.17%	0.00%	0.00%	0.00%	0.00%	0.43%	1.38%	0.57%
Enterprise Value to Invested Capital (EV/IC)	1.31	1.78	1.59	1.51	1.17	1.90	1.76	1.24	1.30	1.38
Enterprise Value to Revenue (EV/Rev)	7.98	6.80	8.03	7.61	7.01	6.19	6.34	7.15	7.67	5.99
Enterprise Value to EBITDA (EV/EBITDA)	26.01	22.43	29.94	44.42	44.58	46.68	45.26	31.38	26.91	26.46
Enterprise Value to EBIT (EV/EBIT)	81.47	62.24	114.59	0.00	0.00	0.00	0.00	382.15	109.49	309.77
Enterprise Value to NOPAT (EV/NOPAT)	72.13	65.87	94.74	0.00	0.00	0.00	0.00	154.10	196.29	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	28.78	27.49	35.07	36.37	30.99	25.26	24.53	25.94	28.54	22.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1.57	0.00	19.21	0.00	26.70	5.41	0.00	155.02	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.83	0.40	0.92	0.94	0.94	0.47	0.60	1.09	0.93	0.44
Long-Term Debt to Equity	0.83	0.40	0.92	0.94	0.94	0.47	0.60	1.09	0.93	0.44
Financial Leverage	0.90	1.33	1.05	1.06	1.23	0.41	0.77	1.24	1.37	0.65
Leverage Ratio	1.91	2.02	2.08	2.13	2.10	2.19	2.25	2.26	2.17	2.25
Compound Leverage Factor	1.91	1.98	2.09	2.14	2.08	1.79	2.14	2.38	2.19	2.22
Debt to Total Capital	45.22%	28.45%	48.05%	48.50%	48.50%	31.88%	37.39%	52.07%	48.30%	30.45%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	45.22%	28.45%	48.05%	48.50%	48.50%	31.88%	37.39%	52.07%	48.30%	30.45%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.96%	2.49%	2.44%	2.41%	2.53%	3.22%	2.96%	2.29%	2.53%	3.45%
Common Equity to Total Capital	52.82%	69.06%	49.52%	49.09%	48.97%	64.90%	59.64%	45.64%	49.17%	66.09%
Debt to EBITDA	7.70	3.57	9.05	14.25	15.36	8.13	9.57	10.62	8.03	4.47
Net Debt to EBITDA	7.46	3.57	9.05	14.25	15.13	8.13	9.57	10.62	8.03	4.47
Long-Term Debt to EBITDA	7.70	3.57	9.05	14.25	15.36	8.13	9.57	10.62	8.03	4.47
Debt to NOPAT	21.37	10.49	28.64	-175.72	-123.31	-46.67	-43.80	52.17	58.55	-24.80
Net Debt to NOPAT	20.69	10.49	28.64	-175.72	-121.50	-46.67	-43.80	52.17	58.55	-24.80
Long-Term Debt to NOPAT	21.37	10.49	28.64	-175.72	-123.31	-46.67	-43.80	52.17	58.55	-24.80
Altman Z-Score	1.33	1.31	1.27	1.15	1.09	1.16	1.15	1.09	1.30	1.15
Noncontrolling Interest Sharing Ratio	4.52%	4.48%	5.13%	4.79%	4.25%	4.08%	4.71%	4.73%	4.91%	4.85%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.42	1.22	1.56	1.55	0.23	0.00	0.96	0.00	0.00	0.00
Quick Ratio	0.20	1.22	1.56	1.55	0.23	0.00	0.96	0.00	0.00	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5,549	12,600	-391	1,125	-1,464	815	3,866	-2,839	158	-3,607
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15,565.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	1,249.60	-1,829.74	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	283.78	278.75	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	304.56	309.25	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.19	0.20	0.18	0.19	0.19	0.19	0.19	0.18	0.19
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	5.47	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.21	0.24	0.22	0.21	0.19	0.24	0.24	0.21	0.18	0.20
Accounts Payable Turnover	4.57	4.79	5.61	3.79	2.83	4.75	4.77	5.21	5.88	5.46
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	66.70	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	79.81	76.17	65.01	96.40	129.00	76.84	76.48	70.02	62.08	66.90
Cash Conversion Cycle (CCC)	-79.81	-76.17	-65.01	-96.40	-129.00	-76.84	-9.78	-70.02	-62.08	-66.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	17,352	11,342	15,569	15,738	18,956	10,519	11,669	18,635	18,922	13,973
Invested Capital Turnover	0.20	0.17	0.20	0.19	0.17	0.30	0.24	0.19	0.17	0.26
Increase / (Decrease) in Invested Capital	5,715	-12,588	379	-1,279	1,604	-823	-3,901	2,896	-33	3,454
Enterprise Value (EV)	22,658	20,203	24,682	23,740	22,252	19,970	20,571	23,196	24,558	19,299
Market Capitalization	15,868	16,704	16,841	15,748	14,299	16,140	15,876	14,998	16,849	15,665
Book Value per Share	$63.56	$63.04	$61.97	$61.96	$62.21	$56.92	$56.14	$55.24	$59.80	$55.59
Tangible Book Value per Share	$52.33	$51.57	$50.00	$49.98	$50.48	$48.06	$47.29	$46.52	$51.03	$48.60
Total Capital	14,841	11,309	15,531	15,701	15,805	10,913	11,634	15,082	15,164	10,716
Total Debt	6,711	3,218	7,462	7,614	7,665	3,479	4,350	7,853	7,325	3,263
Total Long-Term Debt	6,711	3,218	7,462	7,614	7,665	3,479	4,350	7,853	7,325	3,263
Net Debt	6,499	3,218	7,462	7,614	7,552	3,479	4,350	7,853	7,325	3,263
Capital Expenditures (CapEx)	-41	-20	-16	-19	-24	-3.50	-2.00	2.00	-1.60	-442
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-504	110	258	262	-498	-432	-21	-406	-513	-310
Debt-free Net Working Capital (DFNWC)	-292	110	258	262	-386	-432	-21	-406	-513	-310
Net Working Capital (NWC)	-292	110	258	262	-386	-432	-21	-406	-513	-310
Net Nonoperating Expense (NNE)	-11	7.50	36	58	4.51	77	-9.15	-0.78	-181	78
Net Nonoperating Obligations (NNO)	9,222	3,250	7,500	7,652	10,815	3,085	4,385	11,405	11,083	6,520
Total Depreciation and Amortization (D&A)	150	154	156	164	163	178	165	173	172	170
Debt-free, Cash-free Net Working Capital to Revenue	-17.76%	3.69%	8.39%	8.38%	-15.71%	-13.39%	-0.65%	-12.52%	-16.03%	-9.63%
Debt-free Net Working Capital to Revenue	-10.28%	3.69%	8.39%	8.38%	-12.16%	-13.39%	-0.65%	-12.52%	-16.03%	-9.63%
Net Working Capital to Revenue	-10.28%	3.69%	8.39%	8.38%	-12.16%	-13.39%	-0.65%	-12.52%	-16.03%	-9.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.32	$0.06	($0.24)	$0.72	$1.31	($0.65)	($0.22)	$0.42	$2.31	($1.80)
Adjusted Weighted Average Basic Shares Outstanding	122.40M	120.20M	123.30M	123.40M	123.50M	123.40M	123.60M	123.70M	124M	124.50M
Adjusted Diluted Earnings per Share	$1.32	$0.06	($0.24)	$0.72	$1.31	($0.65)	($0.22)	$0.42	$2.31	($1.80)
Adjusted Weighted Average Diluted Shares Outstanding	122.80M	122.90M	126.20M	123.40M	123.50M	123.80M	126.60M	123.70M	124M	127.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	123.89M	124.10M	124.41M	124.42M	124.45M	124.41M	124.63M	124.67M	127.39M	127.38M
Normalized Net Operating Profit after Tax (NOPAT)	236	68	57	67	187	167	48	157	147	73
Normalized NOPAT Margin	25.33%	10.02%	8.69%	7.81%	19.04%	22.96%	7.10%	18.11%	15.60%	9.72%
Pre Tax Income Margin	19.38%	8.14%	-7.52%	-25.46%	13.38%	-8.85%	-4.33%	6.94%	31.72%	-34.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	-243.22	165.50	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	-171.73	175.13	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-222.44	196.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-150.96	205.63	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	156.43%	164.59%	212.15%	-586.16%	-387.92%	-227.83%	-259.90%	576.51%	192.67%	460.04%
Augmented Payout Ratio	156.43%	-293.93%	212.15%	-240.38%	-388.34%	-228.12%	-260.39%	577.70%	50.61%	122.88%

Frequently Asked Questions About Sun Communities' Financials

When does Sun Communities's financial year end?

According to the most recent income statement we have on file, Sun Communities' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Sun Communities' net income changed over the last 9 years?

Sun Communities' net income appears to be on a downward trend, with a most recent value of $107.10 million in 2024, falling from $172.47 million in 2015. The previous period was -$209.10 million in 2023.

What is Sun Communities's operating income?

Sun Communities's total operating income in 2024 was -$88.20 million, based on the following breakdown:

Total Gross Profit: $1.52 billion
Total Operating Expenses: $1.61 billion

How has Sun Communities revenue changed over the last 9 years?

Over the last 9 years, Sun Communities' total revenue changed from $674.73 million in 2015 to $3.22 billion in 2024, a change of 377.4%.

How much debt does Sun Communities have?

Sun Communities' total liabilities were at $9.10 billion at the end of 2024, a 4.3% decrease from 2023, and a 255.0% increase since 2015.

How has Sun Communities' book value per share changed over the last 9 years?

Over the last 9 years, Sun Communities' book value per share changed from 26.69 in 2015 to 55.59 in 2024, a change of 108.3%.

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This page (NYSE:SUI) was last updated on 4/16/2025 by MarketBeat.com Staff

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Sun Communities (SUI) Financials

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