SUI (Sun Communities) Operating Income: $432 Mil (TTM As of Mar. 2026)


SUI Sun Communities Inc SUI
69 GF Score
Price $119.91
GF Value $131.08
Valuation Fairly Valued
! 6 Warning Signs
View Full Analysis

What is Sun Communities Operating Income?

Sun Communities SUI -1.09% 69 Operating Income is $432 Mil as of Mar. 2026. GuruFocus rates SUI with a GF Score™ of 69/100 and a GF Value™ of $131.08 (Fairly Valued). The stock has 6 warning signs investors should review.

Sun Communities's Operating Income for the three months ended in Mar. 2026 was $55 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $432 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Sun Communities's Operating Income for the three months ended in Mar. 2026 was $55 Mil. Sun Communities's Revenue for the three months ended in Mar. 2026 was $501 Mil. Therefore, Sun Communities's Operating Margin % for the quarter that ended in Mar. 2026 was 11.05%.

Sun Communities's 5-Year average Growth Rate for Operating Margin % was -0.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Sun Communities's annualized ROC % for the quarter that ended in Mar. 2026 was 0.00%. Sun Communities's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was %.

Sun Communities  (NYSE:SUI) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Sun Communities's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=221.2 * ( 1 - 100% )/( (11624.5 + 11681.3)/ 2 )
=0/11652.9
=0.00 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=12522.9 - 359.2 - ( 636.1 - max(0, 615.1 - 1154.3+636.1))
=11624.5

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=12358.8 - 397.8 - ( 497 - max(0, 724.8 - 1004.5+497))
=11681.3

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Sun Communities's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=160.8/( ( (0 + max(-472.2, 0)) + (0 + max(-592, 0)) )/ 2 )
=160.8/( ( 0 + 0 )/ 2 )
=160.8/0
= %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 142.9 + -2.2737367544323E-13) - (359.2 + 255.9 + 0)
=-472.2

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 132.8 + 0) - (397.8 + 327 + 0)
=-592

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Sun Communities's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=55.3/500.5
=11.05 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Sun Communities Operating Income Related Terms

Sun Communities Operating Income Historical Data

* Premium members only.

The historical data trend for Sun Communities's Operating Income 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.

Sun Communities Operating Income Chart

Sun Communities Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 447.10 556.80 466.20 449.60 436.20

Sun Communities Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 59.10 121.50 190.60 65.00 55.30
SUI
69GF Score
Sun Communities Inc SUI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sun Communities Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $432 Mil.

* 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $432 Mil mean?
Sun Communities (SUI) has a Operating Income of $432 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sun Communities and its competitors.
Is Sun Communities' Operating Income too high?
Sun Communities' current Operating Income is $432 Mil. Overall, Sun Communities has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Sun Communities' Operating Income compare to MAA and UDR?
Sun Communities' Operating Income of $432 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a REITs company?
A good Operating Income depends on the REITs industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sun Communities and its competitors. Sun Communities's current Operating Income is $432 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sun Communities stock overvalued right now?
Based on GuruFocus' analysis, Sun Communities (SUI) is currently considered Fairly Valued. The stock's GF Value™ is $131.08, compared to a current price of $119.91 — trading 8.5% below its estimated fair value. The current Operating Income is $432 Mil. Sun Communities' overall GF Score™ is 69/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Sun Communities (SUI), the current Operating Income is $432 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Sun Communities (SUI) Overvalued in 2026?

Based on GuruFocus' analysis, Sun Communities stock appears to be undervalued. The current stock price of $119.91 is trading 8.5% below its estimated GF Value™ of $131.08. GuruFocus considers Sun Communities to be Fairly Valued.

Key valuation signals for SUI:

  • Operating Income: $432 Mil
  • GF Value™: $131.08 vs. price of $119.91 (8.5% below fair value)
  • GF Score™: 69/100 with 6 warning signs

No single metric tells the full story. See the SUI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Sun Communities Business Description

Industry Real EstateREITs
Other Exchanges SCZ:GermanyS2UI34:Brazil
Address 27777 Franklin Road, Suite 300, Southfield, MI, USA, 48034
Sun Communities is a residential REIT that focuses on owning manufactured housing and residential vehicle communities. The company currently owns a portfolio of 513 properties, which includes 347 manufactured housing communities and 166 residential vehicle communities. Sun targets owning properties that are desirable as second homes or vacation properties, with nearly 50% of the portfolio located in either Florida or Michigan near major bodies of water.
69GF Score

Get the complete analysis for SUI

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$119.91
Price
$131.08
GF Value