CluenexEquity Lifestyle Properties ELS
Equity Lifestyle Properties scores average on business quality (4.9 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Equity Lifestyle Properties does
Equity LifeStyle Properties operates real estate communities, generating revenue by leasing sites for manufactured homes and recreational vehicle spaces. Residents pay rent for property access and amenities, anchoring steady rental income.
- What it does best
ELS excels at generating top-decile return on equity, printing a 22.9% ROE that easily outpaces peers like INVH at 7.1%. This high return stems from disciplined asset management and recurring site rental income.
- The main risk
An interest coverage ratio of 3.9x leaves the company exposed to rising debt costs. With total debt at $3.3B and minimal cash reserves of $8.0M, refinancing pressure remains a persistent drag if rates stay elevated.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin stands at 33.6% with a net margin of 25.9%, leading to a strong profitability score of 8.1. Margins remain stable due to fixed-cost leverage on community operations.
A 5.2 moat score reflects localized real estate density and customer stickiness, placing its FCF margin in the top quartile at 74%. High relocation costs for manufactured homes lock in residents.
Revenue growth crawls at 0.3%, landing in the bottom quartile of its sector at the 20th percentile. This top-line expansion has decelerated compared to historical periods.
Debt-to-equity sits at 1.9 with interest coverage at 3.9x, showing moderate balance-sheet strain. Free cash flow reached $346.0M, supporting ongoing operations while getting slightly softer.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on ELS
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Equity Lifestyle Properties scores average on the Cluenex quality check (4.9 of 10), measured against its own industry. Profitability is strong, moat fair, growth slow and financial health fair.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Oct 19, 2026, after the close.
See ELS today
- Today's verdict on ELS, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Equity Lifestyle Properties (ELS)”, https://cluenex.com/stocks/els/, data as of Oct 10, 2026.