Sun Communities, Inc. Financial Ratios — SUI Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-0.09	0.38	0.89	1.16	4.37	0.52	1.2	1.67	2.23	1.38	3.08	1.58	-1.25	0.53	9.36
Return on Capital (%)	- -	9.15	11.65	11.88	20.36	7.88	- -	11.86	14.24	- -	12.83	9.05	- -	- -	- -
Return on Invested Capital (%)	- -	4.5	4.77	3.99	4.7	3.73	- -	4.09	4.1	- -	3.94	3.98	- -	- -	- -
Gross Margin (%)	57.6	56.97	56.51	55.95	57.59	56.37	56.34	55.42	56.09	55.78	50.92	48.25	52.42	52.25	52.3
EBITDA Margin (%)	47.58	47.35	46.57	47.41	49.92	48.26	47.25	47.04	47.57	47.58	42.29	38.61	42.88	41.96	41.82
Operating Margin (%)	21.25	20.98	20.89	19.52	23.42	21.37	20.4	22.08	22.32	20.73	19.78	18.97	20.82	20.07	19.32
Incremental Operating Margin (%)	19.7	19.46	20.52	10.24	33.11	12.78	14.95	33.26	24.16	6.87	18.26	16.27	13.03	-1,509.09	-77.91
Pretax Margin (%)	-0.14	2.51	4.98	6.86	24.91	3.89	8.5	10.87	14.3	10.57	18.36	9.2	-13.42	-0.14	-2.15
Profit Margin (%)	-0.39	1.82	4.07	6.07	23.6	3.23	7.51	9.7	12.96	9.48	16.82	8.25	-9.53	3.97	60.29
Net Income to Common Margin (%)	-0.39	1.51	2.59	4.76	21.5	2.13	6.76	9.54	12.86	9.48	16.82	8.25	-9.53	3.97	60.29
Effective Tax Rate (%)	- -	3.02	1.15	0.68	0.71	0.89	- -	0.07	0.49	- -	0.31	2.26	- -	- -	- -
Dvd Payout Ratio (%)	375,212.5	805.62	536.86	362.97	86.6	667.58	257.82	183.54	143.5	191.77	87.35	152.03	-165.46	963.53	1,500.43
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	1,397	1,454	1,493	1,786	2,290	3,064	3,038	3,052	3,364	4,687	5,602	7,128	7,777	7,353	4,259
ST Debt	129	30	181	6	25	100	41	128	184	1,197	1,035	2,131	2,065	1,413	- -
LT Debt	1,268	1,424	1,311	1,780	2,266	2,964	2,997	2,924	3,181	3,490	4,567	4,997	5,712	5,940	4,259
Total Debt/EBITDA	10.52	9.36	7.83	8.02	6.96	7.78	6.69	5.87	5.68	7.1	5.86	6.29	8.1	7.82	4.51
Net Debt/EBITDA	10.48	9.17	7.8	7.64	6.83	7.76	6.67	5.75	5.62	6.98	5.79	6.23	8.07	7.76	3.84
Total Debt/EBIT	23.56	21.13	17.45	19.47	14.84	17.58	15.49	12.5	12.1	16.28	12.53	12.8	16.68	16.35	9.76
Net Debt/EBIT	23.46	20.7	17.39	18.56	14.55	17.53	15.44	12.24	11.97	16.01	12.38	12.67	16.62	16.23	8.3
EBITDA to Interest Expense	1.95	2.18	2.49	2.89	2.97	3.22	3.45	3.88	4.3	4.96	5.87	4.84	2.92	2.68	4.27
EBITDA-CapEx/Interest Expense	-0.47	2.18	2.49	2.89	2.97	3.22	3.45	3.88	4.3	4.96	5.87	4.84	2.92	2.68	4.27
EBIT to Interest Expense	0.87	0.97	1.12	1.19	1.39	1.43	1.49	1.82	2.02	2.16	2.75	2.38	1.42	1.28	1.97
Interest Expense	68	71	77	77	111	122	132	134	138	133	163	234	329	350	221
Common Equity/Total Assets	-45.16	-38.95	-38.75	-29.38	-20.65	-17.42	-19	-19.19	-17.84	-13.97	-11.52	-10.13	-14.15	-16.77	-21.03
Long-Term Debt/Equity (%)	- -	668.44	341.93	196.12	147.45	125.48	112.5	92.31	81.49	62.02	67.86	63.35	79.63	82.58	60.21
Long-Term Debt/Capital (%)	157.45	180.09	178.39	186.85	150.28	140.6	150.97	156.67	150.99	100.06	102.8	91.25	104.4	126.66	244.49
Long-Term Debt/Total Assets (%)	92.71	81.14	65.74	60.61	54.18	50.49	49.03	43.57	40.77	31.14	33.85	29.25	33.72	35.89	34.01
Total Debt/Equity (%)	-1,388.13	682.43	389.22	196.76	149.06	129.71	114.04	96.35	86.2	83.29	83.23	90.36	108.42	102.22	60.21
Total Debt/Capital (%)	173.47	183.86	203.07	187.46	151.92	145.35	153.04	163.53	159.72	134.38	126.09	130.15	142.15	156.8	244.49
Total Debt/Total Assets (%)	102.14	82.84	74.83	60.8	54.77	52.19	49.7	45.48	43.12	41.83	41.51	41.72	45.91	44.43	34.01
Net Debt to Equity	-1,382.31	668.57	387.98	187.56	146.12	129.37	113.66	94.38	85.31	81.92	82.25	89.44	108.02	101.43	51.22
Net Debt/Capital (%)	174.01	187.11	203.74	195.85	153.52	145.53	153.32	165.72	160.72	135.16	126.49	130.56	142.38	157.5	327.6
EBITDA	133	155	191	223	329	394	454	520	593	660	956	1,133	960	940	944
EBITDA-CapEx	-32	155	191	223	329	394	454	520	593	660	956	1,133	960	940	944
Operating Income (Loss)	59	69	86	92	154	174	196	244	278	288	447	557	466	450	436

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.05	0.99	0.03	2.04	0.68	0.05	0.04	0.26	0.25	0.12	0.16	0.07	0.01	0.02	1.03
Current Ratio	0.98	5.94	0.95	6.54	3.76	1.68	1.45	0.99	0.68	0.3	0.49	0.35	0.26	2.19	1.88
Quick Ratio	0.94	5.69	0.92	6.32	3.53	1.53	1.32	0.88	0.56	0.26	0.45	0.27	0.18	0.23	1.64
CFO/Avg Current Liab	0.57	1.1	1.09	1.2	3.41	2.22	1.36	1.1	1.01	0.51	0.47	0.32	0.27	0.33	0.59
Common Equity/Total Assets	-45.16	-38.95	-38.75	-29.38	-20.65	-17.42	-19	-19.19	-17.84	-13.97	-11.52	-10.13	-14.15	-16.77	-21.03
Long-Term Debt/Equity (%)	- -	668.44	341.93	196.12	147.45	125.48	112.5	92.31	81.49	62.02	67.86	63.35	79.63	82.58	60.21
Long-Term Debt/Capital (%)	157.45	180.09	178.39	186.85	150.28	140.6	150.97	156.67	150.99	100.06	102.8	91.25	104.4	126.66	244.49
Long-Term Debt/Total Assets (%)	92.71	81.14	65.74	60.61	54.18	50.49	49.03	43.57	40.77	31.14	33.85	29.25	33.72	35.89	34.01
Total Debt/Equity (%)	-1,388.13	682.43	389.22	196.76	149.06	129.71	114.04	96.35	86.2	83.29	83.23	90.36	108.42	102.22	60.21
Total Debt/Capital (%)	173.47	183.86	203.07	187.46	151.92	145.35	153.04	163.53	159.72	134.38	126.09	130.15	142.15	156.8	244.49
Total Debt/Total Assets (%)	102.14	82.84	74.83	60.8	54.77	52.19	49.7	45.48	43.12	41.83	41.51	41.72	45.91	44.43	34.01
CFO/Total Liabilities	4.31	5.66	7.12	6.57	6.89	6.88	7.48	10.25	12.23	9.74	11.14	7.99	8.09	9.2	15.86
CFO/CapEx	0.38	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.03	0.29	0.35	0.68	0.88	0.88	1.25	1.42	2.04	1.48	2.14	1.12	0.88	1.18	1.76

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	29.07	21.13	26.71	28.22	23.59	19.52	16.12	12.38	9.84	11.29	22.7	11.97	5.22	6.38	7.9
Days Inventory Outstanding	12.56	17.28	13.66	12.94	15.47	18.7	22.64	29.47	37.1	32.32	16.08	30.5	69.93	57.22	46.22
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	9.63	4.8	4.34	15.01	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	37.9	76.1	84.08	24.32	- -	- -	- -	- -
Cash Conversion Cycle	12.56	17.28	13.66	12.94	15.47	18.7	22.64	-8.42	-39	-51.76	-8.24	30.5	69.93	57.22	46.22
Inventory to Cash Days	-12.56	-17.28	-13.66	-12.94	-15.47	-18.7	-22.64	-29.47	-37.1	-32.32	-16.08	-30.5	-69.93	-57.22	-46.22
Inventories	6	8	6	9	15	22	30	49	62	47	51	203	206	130	143
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	6	8	6	9	15	22	30	49	62	47	51	203	206	130	143
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	772	1,087	1,481	2,499	3,679	5,045	7,059	8,278	13,278	14,818	23,639	17,189	16,492	15,310	15,476
- Cash & Cash Equivalents	6	30	5	83	45	8	10	62	35	77	66	73	29	57	636
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	43	42	51	264	289	- -	- -	- -	- -
+ Minority/Non Controlling Interest	26	20	15	30	81	67	65	60	83	102	107	79	90	111	117
+ Total Debt	1,397	1,454	1,493	1,786	2,290	3,064	3,038	3,052	3,364	4,687	5,602	7,128	7,777	7,353	4,259
Enterprise Value	2,190	2,532	2,984	4,232	6,005	8,168	10,195	11,320	16,647	19,670	29,384	24,195	24,331	22,717	19,216
Total Capital	805	791	735	953	1,508	2,108	1,985	1,866	2,107	3,488	4,443	5,477	5,471	4,689	1,742
Total Debt/Capital (%)	173.47	183.86	203.07	187.46	151.92	145.35	153.04	163.53	159.72	134.38	126.09	130.15	142.15	156.8	244.49
Total Debt / EV	0.64	0.57	0.5	0.42	0.38	0.38	0.3	0.27	0.2	0.24	0.19	0.29	0.32	0.32	0.22
EV/Sales	7.85	7.72	7.29	9.01	9.12	10.01	10.6	10.24	13.36	14.17	13	8.25	10.87	10.14	8.51
EV/EBITDA	16.49	16.3	15.64	19	18.26	20.75	22.44	21.76	28.08	29.78	30.74	21.36	25.34	24.16	20.35
EV/EBIT	36.93	36.8	34.88	46.13	38.92	46.85	51.98	46.35	59.86	68.33	65.72	43.45	52.19	50.53	44.05
EV/Cash Flow to Firm	13.88	16.2	15.68	20.17	20.54	22.52	26.16	22.77	27.12	29.04	32.08	25.11	21.93	16.42	22.31
EV/Free Cash Flow to Firm	6.79	16.2	15.68	20.17	20.54	22.52	26.16	22.77	27.12	29.04	32.08	25.11	21.93	16.42	22.31
Diluted Market Cap	772	1,088	1,482	2,528	3,680	5,081	7,117	8,344	13,346	14,818	24,177	17,575	16,546	15,642	15,476
Diluted Enterprise Value	2,190	2,532	2,985	4,260	6,006	8,203	10,253	11,436	16,810	19,795	30,108	24,709	24,384	23,049	19,216
EV per Share	103.55	92.89	85.92	102.37	111.86	124.03	134	139.09	188.19	201.7	261	201.29	197.17	182.46	153.85
TTM Sales	279	328	410	470	659	816	961	1,106	1,246	1,388	2,260	2,934	2,239	2,240	2,258
TTM EBITDA	133	155	191	223	329	394	454	520	593	660	956	1,133	960	940	944
TTM Operating Income	59	69	86	92	154	174	196	244	278	288	447	557	466	450	436
TTM Cash Flow to Firm	158	156	190	210	292	363	390	497	614	677	916	964	1,109	-2,857	861
TTM Free Cash Flow to Firm	323	156	190	210	292	363	390	497	614	677	916	964	1,109	-2,857	861

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	3.39	12.47	12.92	18.96	20.19	21.04	27.59	22.98	27.99	27.28	32.08	23.91	20.93	18.17	17.91
EV/EBIT	36.93	36.8	34.88	46.13	38.92	46.85	51.98	46.35	59.86	68.33	65.72	43.45	52.19	50.53	44.05
Enterprise Value	2,190	2,532	2,984	4,232	6,005	8,168	10,195	11,320	16,647	19,670	29,384	24,195	24,331	22,717	19,216
Low Price	30.49	35.06	39.53	41.65	60.29	62.58	75.76	80.12	97.49	95.34	137.43	117.63	102.74	110.98	109.22
EV/Sales	7.85	7.72	7.29	9.01	9.12	10.01	10.6	10.24	13.36	14.17	13	8.25	10.87	10.14	8.51
EV/EBITDA	16.49	16.3	15.64	19	18.26	20.75	22.44	21.76	28.08	29.78	30.74	21.36	25.34	24.16	20.35
Price/Earnings	- -	219.28	139.58	111.69	25.97	290.47	108.57	78.47	82.85	112.59	62.17	71.03	- -	172.02	11.37
Price/Earnings Average	-704.39	232.8	151.36	93.25	25.06	275.39	101.1	74.11	73.61	105.92	52.18	80.45	-76.22	177.71	11.55
Price/Earnings High	-782.98	262.98	189.14	118.64	27.64	326	112.43	84.02	91.8	128.91	62.71	104.54	-94.78	206.8	12.64
Price/Earnings Low	-593.71	192.73	129.4	76.94	22.85	237.28	88.65	61.81	53.81	70.64	40.69	58.43	-59.44	155.25	10.02
Price/Book Value	-1.25	-1.59	-1.92	-2.9	-4.26	-4.93	-6.08	-6.43	-9.54	-9.47	-15.2	-9.94	-6.88	-5.52	-5.88
Price/Book Value Average	-1.24	-1.69	-2.08	-2.42	-4.11	-4.68	-5.66	-6.07	-8.47	-8.9	-12.76	-11.25	-6.78	-5.7	-5.97
Price/Book Value High	-1.38	-1.91	-2.6	-3.08	-4.53	-5.54	-6.3	-6.88	-10.57	-10.84	-15.34	-14.62	-8.44	-6.63	-6.53
Price/Book Value Low	-1.04	-1.4	-1.78	-1.99	-3.75	-4.03	-4.96	-5.06	-6.19	-5.94	-9.95	-8.17	-5.29	-4.98	-5.18
Price/Tangible Book Value	-6.71	5.11	3.86	2.85	2.46	2.23	2.79	2.7	3.51	3.2	4.19	2.66	2.72	2.16	2.22
Price/Tangible Book Value Average	-6.64	5.42	4.19	2.38	2.38	2.11	2.59	2.55	3.12	3.01	3.52	3.01	2.68	2.23	2.26
Price/Tangible Book Value High	-7.38	6.12	5.23	3.02	2.62	2.5	2.88	2.89	3.89	3.67	4.23	3.91	3.33	2.6	2.47
Price/Tangible Book Value Low	-5.6	4.49	3.58	1.96	2.17	1.82	2.27	2.13	2.28	2.01	2.74	2.19	2.09	1.95	1.96
Price/Sales	2.77	3.32	3.62	5.32	5.58	6.19	7.34	7.48	10.65	10.67	10.46	5.86	7.36	6.83	6.86
Price/Sales Average	2.74	3.52	3.92	4.44	5.39	5.86	6.84	7.07	9.47	10.04	8.78	6.63	7.26	7.06	6.96
Price/Sales High	3.05	3.98	4.9	5.65	5.94	6.94	7.6	8.01	11.81	12.22	10.55	8.62	9.03	8.21	7.62
Price/Sales Low	2.31	2.91	3.35	3.66	4.91	5.05	6	5.9	6.92	6.7	6.84	4.82	5.66	6.17	6.04
Price/Cash Flow	12.2	12.46	12.91	18.75	20.19	20.9	27.36	22.8	27.85	27.27	31.37	23.39	20.86	17.78	17.91
Price/Cash Flow Average	12.08	13.23	14	15.65	19.48	19.81	25.48	21.53	24.75	25.66	26.33	26.49	20.57	18.37	18.19
Price/Cash Flow High	13.43	14.94	17.5	19.91	21.48	23.45	28.34	24.41	30.86	31.23	31.64	34.43	25.57	21.38	19.91
Price/Cash Flow Low	10.18	10.95	11.97	12.91	17.76	17.07	22.34	17.96	18.09	17.11	20.53	19.24	16.04	16.05	15.79
Price/Free Cash Flow Average	3.35	13.24	14.01	15.83	19.48	19.95	25.69	21.7	24.87	25.66	26.92	27.09	20.63	18.77	18.19
Price/Free Cash Flow High	3.73	14.95	17.51	20.14	21.49	23.62	28.57	24.61	31.02	31.23	32.36	35.2	25.66	21.84	19.91
Price/Free Cash Flow Low	2.83	10.96	11.98	13.06	17.76	17.19	22.53	18.1	18.18	17.11	21	19.67	16.09	16.4	15.79
EV/Sales Average	7.82	7.92	7.59	8.13	8.92	9.69	10.1	9.86	12.25	13.63	11.4	9.07	10.76	10.37	8.62
EV/Sales High	8.13	8.38	8.57	9.34	9.47	10.77	10.87	10.81	14.59	15.81	13.17	11.05	12.53	11.52	9.28
EV/Sales Low	7.39	7.32	7.02	7.35	8.44	8.88	9.26	8.69	9.7	10.28	9.47	7.25	9.16	9.47	7.7
EV/EBITDA Average	16.44	16.73	16.3	17.15	17.87	20.09	21.38	20.97	25.74	28.64	26.96	23.48	25.09	24.7	20.61
EV/EBITDA High	17.08	17.7	18.4	19.7	18.98	22.32	23	22.98	30.66	33.22	31.15	28.63	29.21	27.46	22.19
EV/EBITDA Low	15.53	15.46	15.08	15.51	16.91	18.4	19.59	18.47	20.39	21.61	22.39	18.78	21.36	22.58	18.41
EV/EBIT Average	36.8	37.77	36.34	41.64	38.08	45.35	49.51	44.67	54.88	65.72	57.64	47.78	51.69	51.65	44.6
EV/EBIT High	38.24	39.95	41.02	47.83	40.45	50.39	53.26	48.95	65.36	76.23	66.6	58.25	60.18	57.41	48.02
EV/EBIT Low	34.78	34.88	33.62	37.66	36.05	41.55	45.38	39.36	43.47	49.59	47.87	38.21	44.01	47.21	39.85
Last Price	36.53	39.89	42.64	60.46	68.53	76.61	92.78	101.71	150.1	151.95	209.97	143	133.65	122.97	123.91
High Price	40.21	47.84	57.78	64.22	72.92	85.98	96.08	108.91	166.32	173.98	211.79	210.48	163.83	147.83	137.77
Enterprise Value Average	2,182	2,599	3,109	3,819	5,876	7,906	9,710	10,909	15,262	18,916	25,770	26,602	24,096	23,223	19,456
Enterprise Value High	2,268	2,748	3,510	4,387	6,241	8,785	10,446	11,955	18,177	21,943	29,775	32,434	28,055	25,812	20,947
Enterprise Value Low	2,062	2,400	2,876	3,454	5,563	7,244	8,900	9,612	12,088	14,274	21,404	21,273	20,516	21,224	17,381

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	22	30	36	49	58	73	80	86	93	108	116	124	124	127	123
Diluted Weighted Avg Shares	21	27	35	42	54	66	77	82	89	98	115	123	124	127	125
Basic Weighted Avg Shares	21	27	35	41	54	66	76	81	88	98	113	120	123	124	125
Revenue per Share	13.2	12.03	11.79	11.37	12.27	12.39	12.64	13.59	14.09	14.24	20.08	24.41	18.15	18	18.08
EBITDA per Share	6.28	5.7	5.49	5.39	6.13	5.98	5.97	6.39	6.7	6.77	8.49	9.43	7.78	7.55	7.56
Operating Income per Share	2.8	2.52	2.46	2.22	2.87	2.65	2.58	3	3.14	2.95	3.97	4.63	3.78	3.61	3.49
Basic EPS, GAAP	-0.05	0.18	0.31	0.54	2.64	0.26	0.85	1.3	1.81	1.35	3.38	2.01	-1.73	0.71	10.9
Basic EPS from Cont Ops	-0.03	0.29	0.58	0.8	3.18	0.48	1.08	1.48	2.01	1.51	3.68	2.19	-2.36	0.26	- -
Diluted EPS, GAAP	-0.05	0.18	0.31	0.54	2.64	0.26	0.85	1.29	1.8	1.35	3.3	1.97	-1.72	0.7	10.9
Diluted EPS from Cont Ops	-0.03	0.29	0.58	0.79	3.17	0.47	1.07	1.46	1.99	1.51	3.59	2.15	-2.35	0.26	- -
Dividend per Share	2.84	2.69	2.89	2.94	3.03	2.94	2.95	2.98	3.13	3.21	3.47	3.61	3.85	3.95	8.36
Cash Flow per Share	2.99	3.2	3.3	3.23	3.39	3.67	3.39	4.46	5.39	5.57	6.69	6.11	6.41	6.92	6.92
Free Cash Flow per Basic Share	-4.8	3.2	3.3	3.23	3.39	3.67	3.39	4.46	5.39	5.57	6.69	6.11	6.41	6.92	6.92
Cash & Equivalents per Share	0.28	1.08	0.14	2.02	0.84	0.12	0.13	1.37	1.46	2.07	2.24	1.66	0.24	0.46	5.09
Book Value per Share	-29.21	-25.08	-22.25	-20.88	-16.08	-15.53	-15.26	-15.82	-15.74	-16.05	-13.81	-14.39	-19.42	-22.29	-21.08
Tangible Book Value per Share	-5.45	7.81	11.04	21.23	27.8	34.35	33.31	37.68	42.79	47.46	50.09	53.81	49.19	56.87	55.74

Sun Communities, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)