Equity LifeStyle Properties, Inc.

ELSNYSEReal Estate● Active

$61.49

$-0.94(-1.50%)

Market Cap$11.9B

P/E Ratio—

52W High$69

52W Low$58.15

Avg Volume1.4M

Open$62.55

Beta0.68

Free Cash Flow Financials Revenue

Equity LifeStyle Properties, Inc. (ELS) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

ELS · free cash flow · updated Jun 9, 2026

Core FCF metrics

ELS · FCF · TTM · margin & CAGR

Free cash flow was $334.1M for FY2025 (fiscal year ending 2025-12-31), down 6.0% year-over-year The FCF margin was 21.8%. Five-year CAGR stands at +6.0%.

FY2025 Free Cash Flow$334.1M▼ -6.0% YoY

Trailing 12M (TTM)$336.0Mtrailing 4 quarters sum

FCF Margin21.8%$334.1M ÷ revenue

3-Year CAGR+13.8%FY2022 → FY2025

5-Year CAGR+6.0%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

ELS · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$571.1M(237M)$334.1M▼ 6.0%21.8%

FY2024$596.7M(241M)$355.4M▲ +53.9%24.8%

FY2023$548.0M(317M)$230.9M▲ +1.9%16.4%

FY2022$475.8M(249M)$226.5M▼ 25.7%16.5%

FY2021$509.0M(204M)$304.8M▲ +22.2%23.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

ELS · P/FCF · FCF yield · FCF per share

Equity LifeStyle Properties, Inc. (ELS) trades at a FCF yield of 2.82% and a price-to-free-cash-flow ratio of 36.6x. FCF per share stands at $1.68, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

2.82%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.68

TTM FCF ÷ Shares Outstanding

Price / FCF

x36.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x45.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

ELS · cash flow statement · operating / investing / financing

For FY2025, Equity LifeStyle Properties, Inc. generated $571.1M in operating cash flow and spent 237M in capital expenditures, yielding $334.1M in free cash flow.

Operating Activities

+$571.1M

Cash from core business operations

2025-12-31

Investing Activities

−$277.1M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$292.5M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($571.1M) − |CapEx| (237M) = FCF ($334.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

ELS vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Equity LifeStyle Properties, Inc.YOU

ELS

$334.1M-6.0%21.8%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Equity LifeStyle Properties, Inc. (ELS) reported free cash flow of $334.1M for FY2025 (fiscal year ending 2025-12-31), down 6.0% year-over-year. The FCF margin was 21.8%.

Based on available data, Equity LifeStyle Properties, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $355.4M in FY2024. The 5-year CAGR stands at +6.0%.

Equity LifeStyle Properties, Inc.'s FCF yield is 2.82% and price-to-FCF ratio is 36.6x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

ELS free cash flow · 8 questions

Equity LifeStyle Properties, Inc. free cash flow was $334.1M for FY2025, down 6.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $336.0M.

ELS free cash flowELS FCFELS FCF 2025ELS free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Equity LifeStyle Properties, Inc. · Equity LifeStyle Properties, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026