ELS · Intrinsic value
Is Equity LifeStyle Properties, Inc. (ELS) overvalued or undervalued?
Equity LifeStyle Properties, Inc. (ELS) trades at the delayed market price of $61.03 a share. That price already implies revenue growth of more than 25%/yr. TickerWorth's dcf fair value is $14.96 a share (308% above fair value), as of Oct 19, 2026. It is a model estimate, and every input behind it is sourced below.
Model by Miraaj Patel · generated from SEC filings and market data · Updated Oct 19, 2026 · How these pages are made
Is ELS overvalued?
- DCF fair value
- $14.96
- Market price
- $61.03
- Downside to fair value
- 75.5%
- Verdict
- 308% above fair value
Reverse DCF: Today's price implies revenue growth of more than 25%/yr. Above about 25% a year the reverse-DCF stops being informative. It solves for revenue growth alone — holding margins, capital intensity and the forecast horizon fixed — so a price well above our cash-flow model's value has nowhere to go but growth, and the solver returns a rate the model can't reconcile. Read it as "the price implies growth we can't justify", not as a forecast.
What is ELS's TickerWorth Score?
Scores lower than most companies we compare it with
Compared with Real Estate companies in US
Its strongest point: growing quickly. Its weakest: balance sheet looks stretched.
- Value · 37 of 100
Cheaper than 37% of Real Estate companies in US
- Price vs worth · — of 100
- Quality · 54 of 100
More profitable than 54% of Real Estate companies in US
- Financial health · 26 of 100
Financially stronger than 26% of Real Estate companies in US
- Growth · 56 of 100
Growing faster than 56% of Real Estate companies in US
- Momentum · 28 of 100
Outperformed 28% of Real Estate companies in US over the past year
Confidence: Medium confidence · Scored
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ELS DCF valuation: what the price assumes
At a recent price of $61.03, Equity LifeStyle Properties, Inc. (ELS) trades 308% above TickerWorth's base-case discounted-cash-flow (DCF) fair value of $14.96 per share — meaning the market currently prices ELS overvalued vs our estimate of what the business is intrinsically worth. Our fair value sits below the market, an implied -75.5% move to close the gap if the business performs in line with our assumptions. This is an educational model, not a price target or a recommendation — the value moves with the inputs, which you can test yourself using the WACC slider below.
Read the full reasoning
The valuation discounts Equity LifeStyle Properties, Inc.'s projected free cash flows at a weighted-average cost of capital (WACC) of 7.6%, with a long-run terminal growth rate of 2.5%. About 79% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — ELS would need sustained revenue growth of more than 25%/yr to justify today's price, against about 5.2% a year compounded in our base case. We don't quote a precise figure here, because past about 25% a year the reverse-DCF stops being informative: it solves for revenue growth alone, holding margins, capital intensity and the forecast horizon fixed, so a price well above our fair value has nowhere to go but growth. The honest reading is that the price implies growth this model can't reconcile — not that we forecast it.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, ELS's modeled DCF value ranges from about $5.25 to $43.05 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what Equity LifeStyle Properties, Inc. would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of ELS's intrinsic value. Figures update as new filings and prices come in.
Every input behind ELS's DCF
| Input | Value |
|---|---|
| Base-year revenueEQUITY LIFESTYLE PROPERTIES, INC. FY2025 10-K (accession 0001628280-26-008722): us-gaap:Revenues, FY2025 full year. | $1,531,380,000 |
| Base EBIT marginEQUITY LIFESTYLE PROPERTIES, INC. FY2025 10-K (accession 0001628280-26-008722): us-gaap:OperatingIncomeLoss 391,349,000 / revenue 1,531,382,000 = 25.56%, FY2025. | 25.6% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 6% → 6% → 5% → 5% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.1% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 0.64 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesEQUITY LIFESTYLE PROPERTIES, INC. FY2025 10-K (accession 0001628280-26-008722): WeightedAverageNumberOfDilutedSharesOutstanding = 200,114,000 shares, FY2025. | 200M |
| Market priceDelayed quote · as of 2026-10-19 20:12 UTC | $61.03 |
Change ELS's assumptions
The discount-rate dial and the editable model
ProChange growth, margin and WACC yourself — Pro (7-day free trial, card required).
What does Equity LifeStyle Properties, Inc. do?
What does it do?
Equity LifeStyle Properties, Inc. is a self-administered, self-managed real estate investment trust. It operates in the REIT - Residential industry (Real Estate sector), headquartered in United States. The company employs roughly 3,700 people.
How does it make money?
The business turns $1.5B in annual revenue into profit. Out of every $100 of sales, about $32 is left as operating profit (operating margin of 32.1%), after a 54% gross margin on the products/services it sells. After all costs, taxes and interest, 25.6% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: carries moderate debt (1.8× equity), may struggle to cover its short-term bills (0.1× current ratio), and is currently profitable.
Who at ELS filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| Freedman Constance | Director | Grant / award | $19,435.36 | Form 4 for Freedman Constance (opens sec.gov in a new tab) | |
| Freedman Constance | Director | Grant / award | $3,426.12 | Form 4 for Freedman Constance (opens sec.gov in a new tab) | |
| Peppet Scott R | Director | Gift | — | Form 4 for Peppet Scott R (opens sec.gov in a new tab) | |
| Freedman Constance | Director | Grant / award | $19,472.05 | Form 4 for Freedman Constance (opens sec.gov in a new tab) | |
| CONTIS DAVID J | Director | Gift | — | Form 4 for CONTIS DAVID J (opens sec.gov in a new tab) | |
| CONTIS DAVID J | Director | Gift | — | Form 4 for CONTIS DAVID J (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Common questions
What is ELS's intrinsic value?
TickerWorth's base-case DCF fair value for Equity LifeStyle Properties, Inc. (ELS) is $14.96 per share, versus a market price of $61.03 (308% above fair value).
Is ELS overvalued or undervalued?
On our DCF model ELS looks overvalued vs fair value at $61.03. This is an educational estimate, not advice.
What discount rate is used for ELS?
A WACC of 7.6% and a terminal growth rate of 2.5%.
Is Equity LifeStyle Properties stock undervalued?
TickerWorth's dcf fair value for Equity LifeStyle Properties, Inc. (ELS) is $14.96 against a market price of $61.03. Our read: 308% above fair value. This is a model estimate, not investment advice.
Equity LifeStyle Properties (ELS) DCF valuation and fair value
Our dcf fair value for Equity LifeStyle Properties, Inc. (ELS) is $14.96, built on a 7.6% discount rate (WACC) and 2.5% terminal growth. Every assumption is listed on this page with its source.
What growth is priced into Equity LifeStyle Properties stock?
Today's price implies revenue growth of more than 25%/yr. Above about 25% a year the reverse-DCF stops being informative. It solves for revenue growth alone — holding margins, capital intensity and the forecast horizon fixed — so a price well above our cash-flow model's value has nowhere to go but growth, and the solver returns a rate the model can't reconcile. Read it as "the price implies growth we can't justify", not as a forecast. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $61.03. A model estimate, not investment advice.
Equity LifeStyle Properties (ELS) insider trading
The most recent insider filing (SEC Form 4) for Equity LifeStyle Properties, Inc. (ELS): Freedman Constance, Director, grant / award on 2026-10-01. The latest filings are listed on this page. A disclosure, not a signal to trade.
Stocks below our fair value instead
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.