EQUITY LIFESTYLE PROPERTIES (ELS)
US29472R1086 - REIT
ELS gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 21 industry peers in the Residential REITs industry. ELS scores excellent on profitability, but there are concerns on its financial health. While showing a medium growth rate, ELS is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
ELS had positive earnings in the past year.
In the past year ELS had a positive cash flow from operations.
ELS had positive earnings in each of the past 5 years.
ELS had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 5.60%, ELS belongs to the top of the industry, outperforming 95.24% of the companies in the same industry.
ELS has a Return On Equity of 21.99%. This is amongst the best in the industry. ELS outperforms 95.24% of its industry peers.
The Return On Invested Capital of ELS (6.54%) is better than 100.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for ELS is above the industry average of 2.53%.
The last Return On Invested Capital (6.54%) for ELS is above the 3 year average (6.22%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.6% | ||
| ROE | 21.99% | ||
| ROIC | 6.54% |
ROA(3y)5.24%
ROA(5y)5.52%
ROE(3y)20.08%
ROE(5y)20.21%
ROIC(3y)6.22%
ROIC(5y)6.35%
1.3 Margins
ELS has a Profit Margin (21.22%) which is comparable to the rest of the industry.
ELS's Profit Margin has been stable in the last couple of years.
ELS has a better Operating Margin (30.00%) than 80.95% of its industry peers.
In the last couple of years the Operating Margin of ELS has declined.
ELS has a worse Gross Margin (50.58%) than 85.71% of its industry peers.
ELS's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 30% | ||
| PM (TTM) | 21.22% | ||
| GM | 50.58% |
OM growth 3Y-1.9%
OM growth 5Y-1.56%
PM growth 3Y0.35%
PM growth 5Y-0.53%
GM growth 3Y-0.76%
GM growth 5Y-0.61%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ELS is destroying value.
ELS has about the same amout of shares outstanding than it did 1 year ago.
ELS has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, ELS has a worse debt to assets ratio.
2.2 Solvency
ELS has an Altman-Z score of 2.06. This is not the best score and indicates that ELS is in the grey zone with still only limited risk for bankruptcy at the moment.
ELS has a Altman-Z score of 2.06. This is amongst the best in the industry. ELS outperforms 95.24% of its industry peers.
ELS has a debt to FCF ratio of 15.88. This is a negative value and a sign of low solvency as ELS would need 15.88 years to pay back of all of its debts.
ELS has a Debt to FCF ratio of 15.88. This is in the better half of the industry: ELS outperforms 76.19% of its industry peers.
A Debt/Equity ratio of 2.46 is on the high side and indicates that ELS has dependencies on debt financing.
ELS's Debt to Equity ratio of 2.46 is on the low side compared to the rest of the industry. ELS is outperformed by 80.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.46 | ||
| Debt/FCF | 15.88 | ||
| Altman-Z | 2.06 |
ROIC/WACC0.84
WACC7.82%
2.3 Liquidity
A Current Ratio of 0.02 indicates that ELS may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.02, ELS is doing worse than 90.48% of the companies in the same industry.
ELS has a Quick Ratio of 0.02. This is a bad value and indicates that ELS is not financially healthy enough and could expect problems in meeting its short term obligations.
ELS has a worse Quick ratio (0.02) than 90.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.02 | ||
| Quick Ratio | 0.02 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 9.80% over the past year.
The Earnings Per Share has been growing slightly by 7.39% on average over the past years.
The Revenue has been growing slightly by 2.93% in the past year.
Measured over the past years, ELS shows a quite strong growth in Revenue. The Revenue has been growing by 8.70% on average per year.
EPS 1Y (TTM)9.8%
EPS 3Y10.06%
EPS 5Y7.39%
EPS growth Q2Q25.64%
Revenue 1Y (TTM)2.93%
Revenue growth 3Y10.84%
Revenue growth 5Y8.7%
Revenue growth Q2Q5.86%
3.2 Future
The Earnings Per Share is expected to grow by 8.44% on average over the next years. This is quite good.
The Revenue is expected to grow by 4.70% on average over the next years.
EPS Next Y4.38%
EPS Next 2Y5.58%
EPS Next 3Y6.2%
EPS Next 5Y8.44%
Revenue Next Year5.86%
Revenue Next 2Y4.86%
Revenue Next 3Y3.41%
Revenue Next 5Y4.7%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 36.16, which means the current valuation is very expensive for ELS.
71.43% of the companies in the same industry are more expensive than ELS, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 25.20. ELS is valued slightly more expensive when compared to this.
With a Price/Forward Earnings ratio of 34.64, ELS can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ELS indicates a rather cheap valuation: ELS is cheaper than 90.48% of the companies listed in the same industry.
ELS is valuated expensively when we compare the Price/Forward Earnings ratio to 21.63, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.16 | ||
| Fwd PE | 34.64 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, ELS is valued expensively inside the industry as 80.95% of the companies are valued cheaper.
ELS's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. ELS is cheaper than 61.90% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 51.13 | ||
| EV/EBITDA | 22.84 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of ELS may justify a higher PE ratio.
PEG (NY)8.25
PEG (5Y)4.89
EPS Next 2Y5.58%
EPS Next 3Y6.2%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.09%, ELS has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.61, ELS's dividend is way lower than its industry peers. On top of this 80.95% of the companies listed in the same industry pay a better dividend than ELS!
ELS's Dividend Yield is a higher than the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.09% |
5.2 History
The dividend of ELS is nicely growing with an annual growth rate of 10.13%!
ELS has been paying a dividend for at least 10 years, so it has a reliable track record.
ELS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)10.13%
Div Incr Years18
Div Non Decr Years18
5.3 Sustainability
ELS pays out 109.03% of its income as dividend. This is not a sustainable payout ratio.
ELS's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP109.03%
EPS Next 2Y5.58%
EPS Next 3Y6.2%
EQUITY LIFESTYLE PROPERTIES
NYSE:ELS (4/25/2024, 6:00:00 PM)
After market: 60.75 0 (0%)60.75
-0.57 (-0.93%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryResidential REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap11.33B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.09% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 36.16 | ||
| Fwd PE | 34.64 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)8.25
PEG (5Y)4.89
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.6% | ||
| ROE | 21.99% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 30% | ||
| PM (TTM) | 21.22% | ||
| GM | 50.58% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.26
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.46 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.02 | ||
| Quick Ratio | 0.02 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)9.8%
EPS 3Y10.06%
EPS 5Y
EPS growth Q2Q
EPS Next Y4.38%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)2.93%
Revenue growth 3Y10.84%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y