SUI - NYSE

Sun Communities, Inc.

SUI·NYSE

$122.69

+1.2%

Real EstateREIT - Residential

Sun Communities, Inc. is a REIT that, as of March 31, 2022, owned, operated, or had an interest in a portfolio of 603 developed MH, RV and marina properties comprising nearly 159,300 developed sites and over 45,700 wet slips and dry storage spaces in 39 states, Canada, Puerto Rico and the UK.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$15.12B

EPS10.8400

P/E Ratio11.32

Earnings Date07/29/2026

864.20M

Operating Cash Flow

-3%

3Y+15.0%

5Y+56.0%

10Y+246.0%

4.93B

Investing Cash Flow

-1769%

3Y-260.0%

5Y-297.0%

10Y-405.0%

-5.22B

Financing Cash Flow

813%

3Y-322.0%

5Y-361.0%

10Y-490.0%

Sun Communities, Inc. Cash Conversion Engine

SUI · NYSE

FCF Components

Net Income1.36B

Depreciation & Amortization507.90M

Stock-Based Compensation37.40M

Change in Working Capital-12.20M

Others-970.10M

Capital Expenditures0.00

Free Cash Flow864.20M

Cash Flow Quality Analysis

FCF Conversion Rate

63.5%

Moderate conversion rate. Some gap between earnings and cash flow may warrant investigation into working capital or non-cash items.

FCF Growth Trend

-2.8%

Flat FCF growth. Stable but not expanding—monitor for signs of business maturity or temporary headwinds.

Working Capital Impact

-$12.20M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Solid cash generation: Positive free cash flow with reasonable earnings quality provides financial flexibility for growth investments, debt reduction, or shareholder returns.

Sun Communities, Inc. Cash Flow Statement

SUI • NYSE

Sun Communities, Inc. Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
OPERATING ACTIVITIES
Net Income	1.4B	101.4M	-199.2M	251.6M	389.9M	130.8M	160.4M	106.4M	72.6M	26.4M	153.7M	28.4M	16.7M	6M	-1.1M	-2.9M	-6.1M	-34.4M	-16.6M	-25.3M
Depreciation & Amortization	507.9M	680.7M	660M	600.3M	522.7M	376.9M	328.1M	287.3M	261.5M	221.8M	177.6M	131.1M	110.1M	89.7M	74.2M	68.4M	67.5M	65M	66M	63.4M
Change in Deferred Taxes	-60M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Stock-Based Compensation	37.4M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Non-Cash Items	-970.1M	96.2M	491.5M	106.5M	-111.4M	19.7M	25.8M	8M	-7.9M	770K	-122.2M	-8.9M	3.7M	1.8M	2.5M	2.3M	1.5M	34.6M	9.5M	19.1M
Cash Taxes Paid	(0.0)	(3.4M)	(20.5M)	(5.8M)	(1.3M)	(1.1M)	(948K)	(61K)	(0.0)	(452K)	(310K)	(314K)	(155K)	(320K)	(523K)	(582K)	(0.0)	(249K)	(0.0)	(0.0)
Change in Working Capital	-12.2M	10.5M	-144.4M	-206.2M	-30.7M	26.6M	7M	-38.5M	-64.5M	947K	-19.4M	-16M	-13.5M	-6.3M	-12M	-8.6M	-3.2M	-22M	-9.2M	-1.2M
Cash from Operating Activities	864.2M	888.8M	807.9M	752.2M	770.5M	554M	521.2M	363.1M	261.8M	249.9M	189.8M	134.5M	116.9M	91.2M	63.5M	59.1M	59.8M	43.1M	49.6M	56.1M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-45.1M	(0.0)	-34.1M	-52.1M
Acquisitions, Net	-461.7M	-68.8M	-51.4M	-2.2B	-1.6B	-1.9B	-472.7M	-320.3M	-120.4M	-1.5B	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(172K)	(7.3M)	(0.0)	(0.0)
Purchase of Investments	-461.8M	-684.7M	-1.1B	-1B	-987.6M	-585.8M	-630M	-473.4M	-288.5M	-223.4M	-517.7M	-604.5M	-301.6M	-374.4M	-164.9M	-50.9M	-50K	-39.8M	(0.0)	(0.0)
Sale/Maturity of Investments	265.4M	451.7M	186.5M	158.7M	281.2M	68M	61.3M	55.9M	8.6M	93.9M	101.4M	63.2M	0.0	1.1M	1.4M	512K	0.0	0.0	0.0	0.0
Other Investing Items	5.6B	6.6M	10.8M	0.0	0.0	-33.5M	-13.6M	4.1M	-1.3M	2.6M	-4.4M	-10.7M	-53.1M	-5.8M	4M	7M	5.5M	1.2M	13.3M	4.3M
Cash from Investing Activities	(4.9B)	-295.2M	-935M	-3.1B	-2.4B	-2.5B	-1.1B	-733.7M	-401.6M	-1.6B	-420.7M	-551.9M	-354.7M	-379.1M	-159.5M	-43.4M	-39.5M	-31.3M	-20.8M	-47.8M
FINANCING ACTIVITIES
Net Issuance of Common Stock	-538M	361.1M	-12.8M	1.2B	1.1B	1.8B	438.1M	619.4M	373.5M	750.5M	189M	572.3M	262M	383M	59.2M	29.2M	1.5M	-476K	-260K	1M
Net Issuance of Debt	-3.6B	-425M	574.2M	1.6B	926.9M	471.6M	361.7M	35.3M	-7.5M	782.2M	163.6M	43.9M	51.7M	2M	94.3M	12.8M	30M	41.5M	20.8M	38.4M
Cash Paid for Dividends	-1B	-492.7M	-476.4M	-434.2M	-390.8M	-313.1M	-276.7M	-242.8M	-224.5M	-193.7M	-162.5M	-121.4M	-100.4M	-73.4M	-60M	-53.8M	-52.5M	-52.1M	-46.3M	-49.1M
Share Repurchases	-539.1M	(0.0)	-12.8M	(0.0)	(0.0)	-2M	-2.7M	-4.1M	-114.2M	(0.0)	-121.4M	(0.0)	(0.0)	(0.0)	(0.0)	-925K	(0.0)	-476K	-298K	-1.4M
Other Financing Items	-61.8M	-15M	-6.6M	-57.3M	-43.9M	-6.2M	-17.2M	-4.2M	-9.7M	-26.6M	-7.3M	-7.2M	-6.3M	0.0	0.0	0.0	-477K	0.0	3.7M	6.9M
Cash from Financing Activities	-5.2B	-571.6M	78.4M	2.3B	1.6B	2B	505.9M	409.9M	141.6M	1.3B	192.5M	496.1M	213M	311.6M	93.5M	-11.8M	-21.9M	-11.1M	-26.6M	-11M
CASH FLOW SUMMARY
Effect of Foreign Exchange Rates	8.4M	-800K	1M	-8.7M	-200K	189K	411K	-523K	298K	-73K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Change in Cash	579M	21.2M	-47.7M	12.2M	-14.4M	57.8M	-27.4M	38.8M	2M	-36.9M	-38.4M	78.7M	-24.8M	23.7M	-2.6M	3.9M	-1.7M	747K	2.2M	-2.7M
Cash at Beginning of Period	57.1M	42.7M	90.4M	78.2M	92.6M	34.8M	62.3M	23.5M	8.2M	45.1M	83.5M	4.8M	29.5M	5.9M	8.4M	4.5M	6.2M	5.4M	3.2M	5.9M
Cash at End of Period	636.1M	63.9M	42.7M	90.4M	78.2M	92.6M	34.8M	62.3M	10.1M	8.2M	45.1M	83.5M	4.8M	29.5M	5.9M	8.4M	4.5M	6.2M	5.4M	3.2M
Free Cash Flow	864.2M	888.8M	807.9M	752.2M	770.5M	554M	521.2M	363.1M	261.8M	249.9M	189.8M	134.5M	116.9M	91.2M	63.5M	59.1M	14.6M	43.1M	15.6M	4M

SEC Filings

SUI - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	June 01, 2026	June 01, 2026	2026	View Filing
8-K/A 8-K/A 2026 (Amended) N/A	May 28, 2026	May 21, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 21, 2026	May 21, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 18, 2026	May 12, 2026	2026	View Filing
8-K/A 8-K/A 2026 (Amended) N/A	May 13, 2026	March 23, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 04, 2026	May 04, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	April 28, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 27, 2026	April 27, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	March 30, 2026	March 30, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 27, 2026	March 23, 2026	2026	View Filing

Showing 1 to 10 of 568 filings

Related Guides

Blog Categories

Continue your SUI research with focused valuation guides.

Fundamentals

Decode statement quality and operating durability.

Accounting

Interpret line items with cleaner analytical framing.

Forecasting

Translate historical performance into forward scenarios.

Reference

Use practical frameworks for statement-led valuation.

Research Paths

Pick your next lens

Snapshot

Start with context, operating signals, and key market metrics.

Value Model

Stress test fair value across bear, base, and bull assumptions.

Statements

Validate revenue quality, margins, and balance sheet durability.

Earnings Call

Read management commentary and compare it with reported outcomes.

Dividends

Check payout sustainability and long-term distribution behavior.

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.