Sun Communities Inc. (SUI) intrinsic value & 10-year financials
Sun Communities Inc. (SUI) has a Graham intrinsic value of $360.06 per share. At $118.08 on Oct 17, 2026, the stock trades 67% below that value. Over the last 10 fiscal years revenue grew 15.7% a year to $2.3B, with an average return on invested capital of 4.5%.
- Graham intrinsic value
- $360.06
- Share price (Oct 17, 2026)
- $118.08
- Price vs Graham value
- 67% below
- Market cap
- $14.7B
- Revenue (FY2025)
- $2.3B
- Revenue growth (10-yr CAGR)
- 15.7%
- ROIC (10-yr avg)
- 4.5%
- Free cash flow (FY2025)
- $407.2M
SUI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.3B | $1.4B | $10.84 | $407.2M | — | 9.8% |
| FY2024 | $3.2B | $103.6M | $0.71 | $830.8M | — | 0.7% |
| FY2023 | $3.2B | -$206.9M | -$1.72 | $783.4M | — | -1.4% |
| FY2022 | $1.9B | $261.4M | $2.00 | — | — | 2.4% |
| FY2021 | $1.6B | $408.3M | $3.36 | — | — | 6.8% |
| FY2020 | $1.0B | $131.6M | $1.34 | — | — | 2.8% |
| FY2019 | $925.7M | $161.6M | $1.80 | — | — | 3.2% |
| FY2018 | $826.0M | $107.2M | $1.29 | — | — | 1.8% |
| FY2017 | $742.2M | $72.2M | $0.85 | — | 74.2% | 10.0% |
| FY2016 | $620.9M | $26.3M | $0.26 | — | 75.2% | 8.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SUN COMMUNITIES INC is a consistent compounder, expanding top-line revenue at 15.7% annually over the past decade.
SUN COMMUNITIES INC has historically struggled to out-earn its cost of capital, averaging just 4.5% ROIC.
SUN COMMUNITIES INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, SUN COMMUNITIES INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $360.06 per share.