Equity Lifestyle Properties (BSP:E2LS34) Scaled Net Operating Assets: 0.85 (As of Mar. 2026)


BSP:E2LS34 Equity Lifestyle Properties Inc BSP:E2LS34
17 GF Score
Price R$32.24
GF Value R$34.36
Valuation Fairly Valued
! 3 Warning Signs
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What is Equity Lifestyle Properties Scaled Net Operating Assets?

Equity Lifestyle Properties BSP:E2LS34 17 Scaled Net Operating Assets is 0.85 as of Mar. 2026. GuruFocus rates BSP:E2LS34 with a GF Score™ of 17/100 and a GF Value™ of R$34.36 (Fairly Valued). The stock has 3 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Equity Lifestyle Properties's operating assets for the quarter that ended in Mar. 2026 was R$29,965 Mil. Equity Lifestyle Properties's operating liabilities for the quarter that ended in Mar. 2026 was R$3,336 Mil. Equity Lifestyle Properties's Total Assets for the quarter that ended in Dec. 2025 was R$31,345 Mil. Therefore, Equity Lifestyle Properties's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.85.


Equity Lifestyle Properties Scaled Net Operating Assets Historical Data

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The historical data trend for Equity Lifestyle Properties's Scaled Net Operating Assets 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.

Equity Lifestyle Properties Scaled Net Operating Assets Chart

Equity Lifestyle Properties Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.16 0.86 0.85 1.11 0.81

Equity Lifestyle Properties Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.83 0.86 0.86 0.91 0.85

BSP:E2LS34 vs UDR, AMH, CPT: Scaled Net Operating Assets Comparison

For the REIT - Residential subindustry, Equity Lifestyle Properties's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs REITs Industry

For the REITs industry and Real Estate sector, Equity Lifestyle Properties's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Equity Lifestyle Properties's Scaled Net Operating Assets falls into.


BSP:E2LS34
17GF Score
Equity Lifestyle Properties Inc BSP:E2LS34
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Equity Lifestyle Properties Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Equity Lifestyle Properties's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(31202.573-3322.27)/34444.123
=0.81

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=31345.141 - 142.568
=31202.573

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=21443.994 - 17548.876 - 572.848
=3322.27

Equity Lifestyle Properties's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(29964.729-3336.276)/31345.141
=0.85

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=30063.234 - 98.505
=29964.729

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=20543.851 - 16739.526 - 468.049
=3336.276

* 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.

What does a Scaled Net Operating Assets of 0.85 mean?
Equity Lifestyle Properties (BSP:E2LS34) has a Scaled Net Operating Assets of 0.85 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Equity Lifestyle Properties and its competitors.
Is Equity Lifestyle Properties' Scaled Net Operating Assets too high?
Equity Lifestyle Properties' current Scaled Net Operating Assets is 0.85. Overall, Equity Lifestyle Properties has a GF Score™ of 17/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Equity Lifestyle Properties' Scaled Net Operating Assets compare to UDR and AMH?
Equity Lifestyle Properties' Scaled Net Operating Assets of 0.85 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 Scaled Net Operating Assets for a REITs company?
A good Scaled Net Operating Assets depends on the REITs industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Equity Lifestyle Properties and its competitors. Equity Lifestyle Properties's current Scaled Net Operating Assets is 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Equity Lifestyle Properties stock overvalued right now?
Based on GuruFocus' analysis, Equity Lifestyle Properties (BSP:E2LS34) is currently considered Fairly Valued. The stock's GF Value™ is R$34.36, compared to a current price of R$32.24 — trading 6.2% below its estimated fair value. The current Scaled Net Operating Assets is 0.85. Equity Lifestyle Properties' overall GF Score™ is 17/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Equity Lifestyle Properties (BSP:E2LS34), the current Scaled Net Operating Assets is 0.85 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 Equity Lifestyle Properties (BSP:E2LS34) Overvalued in 2026?

Based on GuruFocus' analysis, Equity Lifestyle Properties stock appears to be undervalued. The current stock price of R$32.24 is trading 6.2% below its estimated GF Value™ of R$34.36. GuruFocus considers Equity Lifestyle Properties to be Fairly Valued.

Key valuation signals for BSP:E2LS34:

  • Scaled Net Operating Assets: 0.85
  • GF Value™: R$34.36 vs. price of R$32.24 (6.2% below fair value)
  • GF Score™: 17/100 with 3 warning signs

No single metric tells the full story. See the BSP:E2LS34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Equity Lifestyle Properties Business Description

Industry Real EstateREITs
Other Exchanges ELS:USAMHV:Germany
Address Two North Riverside Plaza, Suite 800, Chicago, IL, USA, 60606
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 455 properties across the US with a higher concentration in the Sunbelt; 38% of the company's properties are in Florida, 12% in Arizona, and 8% in California. Equity Lifestyle targets owning properties in attractive retirement destinations. More than 70% of the company's properties are either age-restricted or have an average resident age over 55.
17GF Score

Get the complete analysis for BSP:E2LS34

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

R$32.24
Price
R$34.36
GF Value