Equity Lifestyle Properties vs Essex Property Trust
Essex Property Trust is the larger business, with $1.89bn of revenue in fiscal 2025 against $1.53bn for Equity Lifestyle Properties (1.2 times as much). Essex Property Trust grew faster (6.4% against 0.3%). Essex Property Trust kept more of each dollar of sales as profit: a net margin of 35.5% against 26.3%. Essex Property Trust carries less debt relative to equity (122.7% against 190.5%).
| Latest fiscal year | Equity Lifestyle PropertiesELS, 2025 | Essex Property TrustESS, 2025 |
|---|---|---|
| Revenue | $1.53bn | $1.89bn |
| Revenue growth | 0.3% | 6.4% |
| Net income | $402m | $670m |
| Operating margin | 25.6% | 47.6% |
| Net margin | 26.3% | 35.5% |
| Return on equity | 23.0% | 12.1% |
| Free cash flow | $334m | $1.07bn |
| Cash | $26.1m | $76.2m |
| Total debt | $3.35bn | $6.80bn |
| Debt to equity | 190.5% | 122.7% |
| Dividend per share | $2.06 | $10.28 |
| Dividend yield | 3.5% | 3.9% |
| Share buybacks | — | $0 |
| Employees | — | 1,689 |
| Market value | $11.70bn | $17.03bn |
| Price vs our value range | — | — |
| Moat score | 74 (Strong) | 76 (Strong) |
| Insider trades, 12 months | 0 buys, 1 sales | 0 buys, 1 sales |