Equity Lifestyle Properties Inc filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $1.6 billion, a rise of 3.2% on the year before. That growth rate was up 0.7 percentage points on the rate a quarter earlier.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q3.
View chart data
| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY24 Q4 | 2.5% | 24.9% | 23.3% |
| FY25 Q1 | 1.4% | 24.6% | 23.5% |
| FY25 Q2 | 0.5% | 24.8% | 23.0% |
| FY25 Q3 | 1.0% | 25.7% | 21.9% |
| FY25 Q4 | 0.3% | 25.6% | 21.8% |
| FY26 Q1 | 1.0% | 25.6% | 21.7% |
| FY26 Q2 | 2.5% | 26.2% | 22.2% |
| FY26 Q3 | 3.2% | 26.1% | 23.6% |
What the company earns
The trailing operating margin was 26.1%, up 0.4 percentage points from a year earlier. The trailing net margin was 26.4%. Net income over the twelve months was $416.3 million, which rose 1.0% on the year before.
Cash flow
Operating cash flow over the twelve months was $593.4 million, up 2.8% on the year before. Capital spending was $221.3 million, or 14.0% of revenue. Free cash flow, operating cash flow less capital spending, was $372.1 million, up 10.9% on the year before. The free-cash-flow margin stood at 23.6% of revenue, up 1.6 percentage points from a year earlier.
The share base
The average diluted share count rose 0.1% over the year.
Against its own history
Set against the company’s own record: today’s free-cash-flow margin of 23.6% is higher than 55% of the company’s own past quarterly readings, which have ranged from −9.1% to 40.0%. Today’s operating margin of 26.1% is higher than 28% of past readings (21.5% to 36.5%). Today’s twelve-month revenue growth rate of 3.2% is higher than 19% of past readings (0.3% to 29.2%).
Guidance
The company gave its fourth quarter 2026 guidance for net income per common share of $0.50 to $0.56, and for MH base rental income growth rate for MH (Core Portfolio) of 5.4% to 6%. The company gave its full year 2026 guidance for net income per common share of $2.00 to $2.06, and for MH base rental income growth rate for MH (Core Portfolio) of 5.4% to 6%.
What it means for value
For valuation, the figures matter through our model. In our model, growth 5 percentage points lower would lower the value by 25.0%, and 5 percentage points higher would raise it by 32.9%. A free-cash-flow margin 1 percentage point lower would lower it by 3.3%.
What to watch
The next filing will show whether the trends above continue, slow or reverse.
