SUI financial statements

The full income statement, balance sheet, and cash-flow statement for Sun Communities Inc. (SUI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-03 124.6M2024-06 124.7M2024-09 127.4M2024-12 127.4M2025-03 127.6M2025-06 125.2M2025-09 123.7M2025-12 123.2M2026-03 123.2M-1.1% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	2.31B YoY+2.0%	2.26B YoY-1.0%	2.28B YoY-23.1%	2.97B YoY+30.7%	2.27B YoY+62.5%
Cost of revenue	—	—	—	311M YoY+51.2%	206M YoY+39.9%
Selling, general & administrative	237M YoY+2.7%	231M YoY+8.0%	214M YoY-17.1%	257M YoY+42.0%	181M YoY+65.6%
General & administrative	237M YoY+2.7%	231M YoY+8.0%	214M YoY-17.1%	257M YoY+42.0%	181M YoY+65.6%
Amortization of intangibles	12.9M YoY-3.0%	13.3M YoY-22.2%	17.1M YoY-53.7%	36.9M YoY-15.2%	43.5M YoY+103.3%
Interest expense	221M YoY-36.9%	350M YoY+7.6%	326M YoY+41.7%	230M YoY+44.9%	159M YoY+22.9%
Interest & investment income	48.5M YoY+141.3%	20.1M YoY-55.1%	44.8M YoY+27.3%	35.2M YoY+188.5%	12.2M YoY+20.8%
Other non-operating income	134M YoY+2069.1%	-6.80M YoY+6.8%	-7.30M YoY-247.6%	-2.10M YoY+82.6%	-12.1M YoY-132.7%
Equity-method income	16.4M YoY+72.6%	9.50M YoY-40.6%	16.0M YoY+451.7%	2.90M YoY-27.5%	4.00M YoY+135.3%
Pre-tax income	-257M YoY-109.4%	-123M YoY-125.9%	-54.4M	—	285M YoY+110.0%
Income tax	-49.2M YoY-36.7%	-36.0M YoY-291.3%	-9.20M YoY-250.8%	6.10M YoY+369.2%	1.30M YoY+262.5%
	1.41B YoY+1220.2%	107M YoY+151.8%	-207M YoY-179.2%	261M YoY-36.0%	408M YoY+210.2%
Discontinued operations	1.43B YoY+1826.7%	74.2M YoY-9.8%	82.3M	—	—
Net income to non-controlling interest	56.4M YoY+964.2%	5.30M YoY+165.4%	-8.10M YoY-175.0%	10.8M YoY-49.8%	21.5M YoY+141.6%
Net income to common	1.36B YoY+1429.4%	89.0M YoY+141.7%	-213M YoY-188.1%	242M YoY-36.3%	380M YoY+188.9%
	$10.84 YoY+1426.8%	$0.71 YoY+141.3%	-$1.72 YoY-186.0%	$2.00 YoY-40.5%	$3.36 YoY+150.7%
EPS (basic)	$10.84 YoY+1426.8%	$0.71 YoY+141.5%	-$1.71 YoY-185.5%	$2.00 YoY-40.5%	$3.36 YoY+150.7%
	125M YoY+0.3%	125M YoY+0.9%	123M YoY+2.7%	120M YoY+6.7%	113M YoY+15.5%
	125M YoY-1.8%	127M YoY+2.7%	124M YoY+0.7%	123M YoY+6.8%	115M YoY+18.1%
Dividends per share	$7.96 YoY+112.3%	$3.75 YoY+2.2%	$3.67 YoY+5.8%	$3.47 YoY+5.8%	$3.28 YoY+5.1%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	570M YoY+1089.1%	47.9M YoY+64.0%	29.2M YoY-59.9%	72.8M YoY+10.6%	65.8M YoY-14.9%
	12.5B YoY-24.3%	16.5B YoY-2.3%	16.9B YoY-0.8%	17.1B YoY+26.6%	13.5B YoY+20.4%
Operating lease right-of-use	59.9M YoY+14.3%	52.4M YoY-70.2%	176M YoY-7.1%	189M YoY+37.0%	138M
Goodwill	9.50M YoY+0.0%	9.50M YoY-98.7%	733M YoY-28.0%	1.02B YoY+105.6%	495M YoY+15.5%
Intangible assets	102M YoY-1.0%	103M YoY-72.3%	370M YoY-8.1%	402M YoY+31.0%	307M YoY+0.4%
	5.19B YoY-42.9%	9.10B YoY-4.3%	9.51B YoY+5.7%	8.99B YoY+38.9%	6.47B YoY+21.8%
Long-term debt	1.79B YoY-75.8%	7.39B YoY-5.5%	7.82B YoY+8.0%	7.24B YoY+126865.9%	5.70M YoY-13.7%
Operating lease liability (total)	39.0M YoY+13.0%	34.5M YoY-78.4%	160M YoY-0.5%	160M YoY+24.1%	129M YoY+158.6%
Finance lease liability (total)	10.6M YoY-25.4%	14.2M YoY-0.7%	14.3M YoY-4.7%	15.0M YoY+257.1%	4.20M YoY-3.1%
	6.96B YoY-1.8%	7.08B YoY-0.0%	7.08B YoY-9.3%	7.81B YoY+17.9%	6.62B YoY+19.9%
Common stock	1.20M YoY-7.7%	1.30M YoY+8.3%	1.20M YoY+0.0%	1.20M YoY+0.0%	1.20M YoY+11.5%
Additional paid-in capital	9.56B YoY-3.1%	9.86B YoY+4.2%	9.47B YoY-0.9%	9.55B YoY+16.8%	8.18B YoY+15.3%
Accumulated other comprehensive income	26.5M YoY+435.4%	-7.90M YoY-164.8%	12.2M YoY+223.2%	-9.90M YoY-419.4%	3.10M YoY-2.5%
Non-controlling interest	117M YoY+5.0%	111M YoY+23.2%	90.2M YoY+14.6%	78.7M YoY-26.2%	107M YoY+4.6%
Total equity incl. non-controlling	7.07B YoY-1.7%	7.19B YoY+0.3%	7.17B YoY-9.1%	7.89B YoY+17.2%	6.73B YoY+19.6%
Total liabilities & equity	12.5B YoY-24.3%	16.5B YoY-2.3%	16.9B YoY-0.8%	17.1B YoY+26.6%	13.5B YoY+20.4%
	124M YoY-3.1%	127M YoY+2.4%	124M YoY+0.3%	124M YoY+6.9%	116M YoY+7.8%
	124M YoY-3.1%	127M YoY+2.4%	124M YoY+0.3%	124M YoY+6.9%	116M YoY+7.8%
	123M YoY-3.3%	127M YoY+2.4%	124M YoY+0.3%	124M YoY+7.0%	116M YoY+7.8%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	864M YoY+0.4%	861M YoY+8.9%	791M YoY+7.6%	735M YoY-2.5%	754M YoY+38.7%
Depreciation & amortization	508M YoY+3.5%	491M YoY-0.7%	494M YoY-17.9%	602M YoY+15.1%	523M YoY+38.7%
Intangible amortization	12.9M YoY-3.0%	13.3M YoY-22.2%	17.1M YoY-53.7%	36.9M YoY-15.2%	43.5M YoY+103.3%
Share-based compensation	37.4M YoY+13.0%	33.1M YoY-5.7%	35.1M YoY-6.6%	37.6M YoY+34.3%	28.0M YoY+21.7%
Deferred income taxes	-60.0M YoY-51.5%	-39.6M YoY-72.9%	-22.9M YoY-445.2%	-4.20M YoY-4300.0%	100K YoY+106.3%
Other operating activities	-29.9M YoY-14.6%	-26.1M YoY-310.5%	12.4M YoY-1.6%	12.6M	—
	4.93B YoY+1942.1%	-267M YoY+70.9%	-920M YoY+70.0%	-3.06B YoY-31.0%	-2.34B YoY+6.0%
Capital expenditure	457M YoY+1413.2%	30.2M YoY+325.4%	7.10M YoY-99.2%	921M YoY+36.9%	673M YoY+24.9%
Free cash flow	407M YoY-51.0%	831M YoY+6.1%	783M YoY+521.0%	-186M YoY-329.8%	81.0M YoY+1587.5%
Acquisitions	462M YoY+1989.1%	22.1M YoY-53.2%	47.2M YoY-97.9%	2.21B YoY+34.3%	1.65B YoY-15.3%
Proceeds from sale of PP&E	16.9M YoY-19.9%	21.1M YoY-64.7%	59.7M YoY-40.3%	100M YoY-12.1%	114M YoY+105.4%
Other investing activities	-11.5M YoY+37.5%	-18.4M YoY-194.8%	19.4M	—	—
	-5.22B YoY-813.1%	-572M YoY-811.8%	80.3M YoY-96.6%	2.35B YoY+49.6%	1.57B YoY-21.5%
Long-term debt issued	0.00	0.00	0.00 YoY-100.0%	828M YoY-31.2%	1.20B YoY+144.6%
Long-term debt repaid	2.09B YoY+677.6%	269M YoY+54.5%	174M YoY-56.5%	401M YoY+421.9%	76.8M YoY-66.7%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	539M	0.00	0.00	0.00	0.00
Dividends paid	1.04B YoY+112.5%	491M YoY+3.4%	475M YoY+9.4%	434M YoY+11.1%	391M YoY+24.8%
Other financing activities	-15.3M YoY-194.2%	-5.20M YoY-26.8%	-4.10M YoY+49.4%	-8.10M	—
FX effect on cash	1.60M YoY+300.0%	-800K YoY-180.0%	1.00M YoY+111.5%	-8.70M YoY-4250.0%	-200K YoY-200.0%
Net change in cash	572M YoY+2599.1%	21.2M YoY+144.4%	-47.7M YoY-491.0%	12.2M YoY+184.7%	-14.4M YoY-124.9%
Interest paid	246M YoY-28.1%	342M YoY+4.7%	327M YoY+49.7%	218M YoY+48.5%	147M YoY+8.1%
Income taxes paid	5.00M YoY+72.4%	2.90M YoY-85.7%	20.3M YoY+250.0%	5.80M YoY+346.2%	1.30M YoY+18.2%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	15.3B YoY-2.6%	15.7B YoY-5.8%	16.6B YoY-6.1%	17.7B YoY-27.2%	24.3B YoY+48.9%
P/E	10.8× YoY-92.6%	146.3×	—	63.7× YoY+6.7%	59.6× YoY-52.0%
P/S	6.6× YoY-4.5%	6.9× YoY+32.2%	5.2× YoY-16.0%	6.2× YoY-41.7%	10.7× YoY-8.4%
P/B	2.2× YoY-0.8%	2.2× YoY-1.6%	2.2× YoY-0.5%	2.3× YoY-38.5%	3.7× YoY+24.2%
P/FCF	37.5× YoY+98.8%	18.9×	—	218.7× YoY-27.2%	300.6× YoY-91.2%
	9.3% YoY+1254.8%	0.68%	—	1.6% YoY-6.3%	1.7% YoY+108.3%
	2.7% YoY-49.7%	5.3%	—	0.46% YoY+37.4%	0.33% YoY+1033.3%
	6.4% YoY+110.7%	3.0% YoY+11.1%	2.7% YoY+13.2%	2.4% YoY+55.3%	1.6% YoY-23.9%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: SUI's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SUI filings on SEC EDGAR → Not investment advice.