Equity Lifestyle Properties (Equity Lifestyle Properties) Gross Margin % : 39.23% (As of Dec. 2023)

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What is Equity Lifestyle Properties Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Equity Lifestyle Properties's Gross Profit for the three months ended in Dec. 2023 was $113.38 Mil. Equity Lifestyle Properties's Revenue for the three months ended in Dec. 2023 was $289.02 Mil. Therefore, Equity Lifestyle Properties's Gross Margin % for the quarter that ended in Dec. 2023 was 39.23%.

Warning Sign:

Equity Lifestyle Properties Inc gross margin has been in long-term decline. The average rate of decline per year is -3%.

The historical rank and industry rank for Equity Lifestyle Properties's Gross Margin % or its related term are showing as below:

ELSPRCCL.PFD' s Gross Margin % Range Over the Past 10 Years
Min: 44.89 Med: 51.13 Max: 51.8
Current: 45.94

During the past 13 years, the highest Gross Margin % of Equity Lifestyle Properties was 51.80%. The lowest was 44.89%. And the median was 51.13%.

ELSPRCCL.PFD's Gross Margin % is ranked worse than
88.17% of 634 companies
in the REITs industry
Industry Median: 68.745 vs ELSPRCCL.PFD: 45.94

Equity Lifestyle Properties had a gross margin of 39.23% for the quarter that ended in Dec. 2023 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for Equity Lifestyle Properties was -3.00% per year.

Equity Lifestyle Properties Gross Margin % Historical Data

The historical data trend for Equity Lifestyle Properties's Gross Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Equity Lifestyle Properties Gross Margin % Chart

Equity Lifestyle Properties Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

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51.80

49.75

45.65

44.89

45.94

Equity Lifestyle Properties Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Margin %	Get a 7-Day Free Trial															39.14	50.70	46.11	46.28	39.23

Competitive Comparison of Equity Lifestyle Properties's Gross Margin %

For the REIT - Residential subindustry, Equity Lifestyle Properties's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Equity Lifestyle Properties's Gross Margin % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Equity Lifestyle Properties's Gross Margin % distribution charts can be found below:

* The bar in red indicates where Equity Lifestyle Properties's Gross Margin % falls into.

Equity Lifestyle Properties Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

Equity Lifestyle Properties's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )	=	Gross Profit (A: Dec. 2023 )	/	Revenue (A: Dec. 2023 )
	=	645.1	/	1404.276
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(1404.276 - 759.196)	/	1404.276
	=	45.94 %

Equity Lifestyle Properties's Gross Margin for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	113.4	/	289.017
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(289.017 - 175.64)	/	289.017
	=	39.23 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Equity Lifestyle Properties (NYSE:ELSPRCCL.PFD) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Equity Lifestyle Properties had a gross margin of 39.23% for the quarter that ended in Dec. 2023 => Competition eroding margins

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

Equity Lifestyle Properties Gross Margin % Related Terms

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Equity Lifestyle Properties (Equity Lifestyle Properties) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Equity Lifestyle Properties Inc (NYSE:ELSPRCCL.PFD) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

ELS:USA

Address

Two North Riverside Plaza, Suite 800, Chicago, IL, USA, 60606

Website

https://www.equitylifestyleproperties.com

Equity Lifestyle Properties is a residential REIT that focuses on owning manufactured housing, residential vehicle communities, and marinas. The company currently has a portfolio of 450 properties across the U.S. with a higher concentration in the Sunbelt region with 34% of the company's properties located in Florida, 11% in California, and 10% in Arizona. Equity Lifestyle targets owning properties in attractive retirement destinations with over 70% of the company's properties either being age-restricted or having an average resident age over 55.