Sun Communities, Inc. (SUI) Balance Sheet
SUI balance sheet, 2025
December 31, 2025 · U.S. dollars$12.52B assets = $5.33B liabilities + $7.19B equity
Both columns are drawn to the same scale: what SUI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SUI financial health
Descriptive bands, not a rating. Fiscal 2025.
SUI balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.87B2016 | $12.52B2025 | +8.8%/yr | |
| Total liabilities | $3.51B2016 | $5.33B2025 | +4.8%/yr | |
| Shareholders’ equity | $2.36B2016 | $7.07B2025 | +13.0%/yr | |
| Cash & short-term investments | $8.2M2016 | $636.1M2025 | +62.2%/yr | |
| Total debt | $3.11B2016 | $1.83B2025 | −5.7%/yr | |
| Net cash (debt) | −$3.10B2016 | −$1.19B2025 | +$1.9B | |
| Working capital | $102.9M2016 | −$1.89B2025 | −$2.0B | |
| Book value per share | $35.622016 | $56.632025 | +5.3%/yr | |
| Current ratio | 1.682016 | 0.382025 | −1.30 | |
| Debt / equity | 1.322016 | 0.262025 | −1.06 | |
| Shares outstanding | 66.3M2016 | 124.9M2025 | +7.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SUI assets
SUI liabilities and equity
SUI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SUI balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $636.1M | $47.4M | $29.2M | $200.1M | $265.1M | $223.0M | $129.6M | $50.3M | $10.1M | $8.2M |
| Cash & equivalents | $636.1M | $47.4M | $29.2M | $72.8M | $78.2M | $98.3M | $34.8M | $50.3M | $10.1M | $8.2M |
| Short-term investments | — | $17.91B | $11.7M | $127.3M | $186.9M | $124.7M | $94.7M | $7.56B | $6.88B | $6.50B |
| Receivables | $375.3M | $535.2M | $477.8M | $617.3M | $469.6M | $221.7M | $157.9M | $267.0M | $291.7M | $225.0M |
| Inventory | $142.9M | $129.8M | $205.6M | $202.7M | $51.1M | $46.6M | $62.1M | $49.2M | $30.4M | $21.6M |
| Other current assets | $0 | $16.4M | $13.5M | $17.6M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $1.15B | $728.8M | $726.1M | $1.04B | $785.7M | $491.3M | $349.5M | $366.5M | $332.3M | $254.8M |
| Property, plant & equipment (net) | $10.96B | $0 | $14.71B | $14.25B | $231.3M | $76.0M | $52.1M | $6.12B | $5.65B | $5.47B |
| Goodwill & intangible assets | $111.0M | $890.1M | $1.10B | $1.42B | $802.1M | $734.4M | $67.5M | $88.3M | $86.5M | $99.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $129.5M | $106.9M | $128.2M | $143.9M |
| Other non-current assets | $296.0M | $14.93B | $397.5M | $374.8M | $11.67B | $9.90B | $7.20B | $30.0M | $0 | $0 |
| Total assets | $12.52B | $16.55B | $16.94B | $17.08B | $13.49B | $11.21B | $7.80B | $6.71B | $6.11B | $5.87B |
| Liabilities | ||||||||||
| Accounts payable | $2.56B | — | −$805.0M | $396.3M | $361.0M | $148.4M | $127.3M | $128.0M | $55.2M | $51.9M |
| Short-term debt | $0 | $1.41B | $2.07B | $2.13B | $1.03B | $1.24B | $183.9M | $128.0M | $41.3M | $100.1M |
| Deferred revenue | $255.9M | $331.0M | $344.5M | $352.1M | $242.8M | $187.7M | $133.4M | $133.7M | $132.2M | — |
| Total current liabilities | $3.04B | $2.18B | $2.84B | $2.99B | $578.7M | $1.67B | $516.3M | $324.9M | $96.5M | $152.0M |
| Long-term debt | $4.27B | $7.37B | $7.79B | $7.20B | $5.67B | $3.51B | $3.25B | $2.96B | $3.04B | $3.01B |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $513.0M | $399.0M | $159.3M | $256.7M | $313.8M | $346.6M |
| Total liabilities | $5.33B | $9.36B | $9.77B | $9.20B | $6.76B | $5.58B | $3.93B | $3.54B | $3.45B | $3.51B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.2M | $1.3M | $1.2M | $1.2M | $1.2M | $1.1M | $932,000 | $864,000 | $3.76B | $3.32B |
| Retained earnings (deficit) | −$2.63B | −$2.78B | −$2.40B | −$1.73B | −$1.56B | −$1.57B | −$1.39B | −$1.29B | −$1.16B | −$1.02B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $26.5M | −$7.9M | $12.2M | −$9.9M | $3.1M | $3.2M | −$1.3M | −$4.5M | $1.1M | −$3.2M |
| Minority interest | $116.7M | $111.1M | $90.2M | $78.7M | $106.7M | $102.1M | $56.2M | $60.5M | $65.3M | $66.6M |
| Total shareholders' equity | $7.07B | $7.08B | $7.08B | $7.81B | $6.73B | $5.63B | $3.88B | $3.17B | $2.66B | $2.36B |
| Key figures | ||||||||||
| Total debt | $1.83B | $7.35B | $7.78B | $7.13B | $6.71B | $4.76B | $3.43B | $3.09B | $3.08B | $3.11B |
| Net cash (debt) | −$1.19B | −$7.31B | −$7.75B | −$6.93B | −$6.44B | −$4.53B | −$3.30B | −$3.04B | −$3.07B | −$3.10B |
| Working capital | −$1.89B | −$1.45B | −$2.12B | −$1.95B | $207.1M | −$1.17B | −$166.8M | $41.6M | $235.8M | $102.9M |
| Tangible book value | $6.96B | $6.19B | $5.98B | $6.39B | $5.93B | $4.89B | $3.81B | $3.08B | $2.58B | $2.26B |
| Book value per share | $56.63 | $55.67 | $57.21 | $63.55 | $59.77 | $57.70 | $43.82 | $38.61 | $34.72 | $35.62 |
| Shares outstanding | 124.9M | 127.2M | 123.8M | 122.9M | 112.6M | 97.5M | 88.5M | 82.0M | 76.7M | 66.3M |
| Current ratio | 0.38 | 0.33 | 0.26 | 0.35 | 1.36 | 0.30 | 0.68 | 1.13 | 3.44 | 1.68 |
| Quick ratio | 0.33 | 0.27 | 0.18 | 0.27 | 1.27 | 0.27 | 0.56 | 0.98 | 3.13 | 1.53 |
| Debt / equity | 0.26 | 1.04 | 1.10 | 0.91 | 1.00 | 0.85 | 0.89 | 0.98 | 1.16 | 1.32 |
| Equity / assets | 56.5% | 42.8% | 41.8% | 45.7% | 49.9% | 50.2% | 49.7% | 47.2% | 43.6% | 40.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $165.2M | $636.1M | $636.1M | $542.7M | $1.46B | $97.4M | $47.4M | $81.8M | $104.2M | $132.5M | $29.2M | $174.8M |
| Cash & equivalents | $165.2M | $636.1M | $636.1M | $542.7M | $1.46B | $97.4M | $47.4M | $81.8M | $104.2M | $132.5M | $29.2M | $62.0M |
| Short-term investments | $12.21B | $14.56B | — | — | $14.16B | $14.11B | $17.91B | $18.13B | $10.7M | $12.2M | $11.7M | $112.8M |
| Receivables | $321.6M | $375.3M | $375.3M | $513.8M | $392.3M | $423.0M | $535.2M | $547.2M | $471.7M | $525.6M | $477.8M | $832.2M |
| Inventory | $75.7M | $142.9M | $142.9M | $155.1M | $172.0M | $172.4M | $129.8M | $174.8M | $182.3M | $191.0M | $205.6M | $219.8M |
| Other current assets | $1.45B | $0 | $0 | $637.3M | $121.1M | $4.47B | $16.4M | $0 | $0 | $0 | $13.5M | $0 |
| Total current assets | $2.01B | $1.15B | $1.15B | $1.85B | $2.15B | $5.17B | $728.8M | $803.8M | $758.2M | $849.1M | $726.1M | $1.23B |
| Property, plant & equipment (net) | $8.51B | $10.90B | $10.96B | $0 | $0 | $0 | $0 | $0 | $275.3M | $14.73B | $14.71B | $277.6M |
| Goodwill & intangible assets | $43.5M | $111.0M | $111.0M | $106.5M | $111.2M | $110.7M | $890.1M | $1.09B | $1.09B | $1.09B | $1.10B | $1.46B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $303.7M | $191.8M | $296.0M | $10.84B | $11.10B | $11.23B | $14.93B | $15.19B | $14.89B | $442.0M | $397.5M | $14.64B |
| Total assets | $10.87B | $12.36B | $12.52B | $12.80B | $13.36B | $16.51B | $16.55B | $17.09B | $17.01B | $17.11B | $16.94B | $17.61B |
| Liabilities | ||||||||||||
| Accounts payable | $193.3M | $228.1M | $2.56B | — | — | — | — | — | $1.65B | $1.50B | $2.67B | — |
| Short-term debt | — | — | $0 | $12.3M | $3.5M | $1.47B | $1.41B | $1.25B | $1.67B | $1.68B | $2.07B | $2.08B |
| Deferred revenue | $199.9M | $255.9M | $255.9M | $308.3M | $308.2M | $327.3M | $331.0M | $382.4M | $423.3M | $480.4M | $344.5M | $372.7M |
| Total current liabilities | $533.1M | $615.1M | $3.04B | $721.7M | $740.7M | $2.53B | $2.18B | $2.15B | $2.62B | $2.65B | $2.84B | $2.96B |
| Long-term debt | $4.05B | $4.25B | $4.27B | $4.28B | $4.29B | $7.36B | $7.37B | $7.34B | $6.18B | $6.20B | $5.71B | $7.68B |
| Other long-term liabilities | $75.8M | $289.9M | $0 | $690.3M | $793.0M | $0 | $0 | $21.5M | $1.24B | $1.25B | $1.21B | $0 |
| Total liabilities | $5.09B | $5.41B | $5.33B | $5.69B | $5.83B | $9.48B | $9.36B | $9.51B | $10.04B | $10.09B | $9.77B | $9.77B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.2M | $1.2M | $1.2M | $1.2M | $1.3M | $1.3M | $1.3M | $1.3M | $1.2M | $1.2M | $1.2M | $1.2M |
| Retained earnings (deficit) | −$3.97B | −$2.63B | −$2.63B | −$2.62B | −$2.38B | −$2.94B | −$2.78B | −$2.43B | −$2.60B | −$2.54B | −$2.40B | −$1.85B |
| Accumulated other comprehensive income | $2.4M | $26.5M | $26.5M | $25.9M | $44.2M | −$6.6M | −$7.9M | $33.9M | $6.0M | $6.7M | $12.2M | $5.2M |
| Minority interest | $74.2M | $109.4M | $116.7M | $121.0M | $124.3M | — | — | — | — | — | — | — |
| Total shareholders' equity | $5.52B | $6.84B | $7.07B | $6.99B | $7.41B | $6.92B | $7.08B | $7.46B | $6.88B | $6.94B | $7.08B | $7.74B |
| Key figures | ||||||||||||
| Total debt | $4.05B | $4.22B | $1.83B | $4.27B | $4.28B | $7.35B | $7.35B | $7.32B | $7.85B | $7.87B | $7.78B | $9.76B |
| Net cash (debt) | −$3.89B | −$3.58B | −$1.19B | −$3.73B | −$2.82B | −$7.25B | −$7.31B | −$7.24B | −$7.75B | −$7.74B | −$7.75B | −$9.59B |
| Working capital | $1.48B | $539.2M | −$1.89B | $1.13B | $1.41B | $2.64B | −$1.45B | −$1.34B | −$1.86B | −$1.80B | −$2.12B | −$1.73B |
| Tangible book value | $5.48B | $6.73B | $6.96B | $6.88B | $7.30B | $6.81B | $6.19B | $6.36B | $5.80B | $5.85B | $5.98B | $6.28B |
| Book value per share | $43.32 | $54.50 | $57.44 | $56.29 | $58.58 | $53.32 | $54.60 | $60.12 | $55.65 | $54.81 | $57.35 | $62.67 |
| Shares outstanding | 127.4M | 125.5M | 123.1M | 124.1M | 126.5M | 129.8M | 129.7M | 124.0M | 123.7M | 126.6M | 123.5M | 123.5M |
| Current ratio | 3.77 | 1.88 | 0.38 | 2.56 | 2.90 | 2.05 | 0.33 | 0.37 | 0.29 | 0.32 | 0.26 | 0.42 |
| Quick ratio | 0.91 | 1.64 | 0.33 | 1.46 | 2.50 | 0.21 | 0.27 | 0.29 | 0.22 | 0.25 | 0.18 | 0.34 |
| Debt / equity | 0.73 | 0.62 | 0.26 | 0.61 | 0.58 | 1.06 | 1.04 | 0.98 | 1.14 | 1.13 | 1.10 | 1.26 |
| Equity / assets | 50.8% | 55.3% | 56.5% | 54.6% | 55.5% | 41.9% | 42.8% | 43.6% | 40.5% | 40.5% | 41.8% | 44.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
SUI financial position
At the end of fiscal 2025 (December 31, 2025), Sun Communities had total assets of $12.5 billion (down 24.3% from a year earlier), total liabilities of $5.3 billion and shareholders' equity of $7.1 billion. It held $636.1 million in cash and short-term investments against $1.8 billion of debt, net debt of $1.2 billion. Its current ratio was 0.38. In the latest quarter (ended June 30, 2026) total assets were $10.9 billion and equity $5.5 billion.
Related: SUI income statement, SUI cash flow statement, SUI key metrics. See the SUI stock overview for the latest quote and news.
SUI balance sheet FAQ
What are Sun Communities's total assets?
Sun Communities reported total assets of $12.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $16.5 billion a year earlier.
How much debt does Sun Communities have?
Sun Communities had $1.8 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.26.
How much cash does Sun Communities have?
Sun Communities held $636.1 million in cash and short-term investments at the end of fiscal 2025; with $1.8 billion of debt that is net debt of $1.2 billion.
What is Sun Communities's book value?
Sun Communities's shareholders' equity (book value) was $7.1 billion at the end of fiscal 2025, or $56.63 per share.
What is Sun Communities's current ratio?
Sun Communities had current assets of $1.2 billion and current liabilities of $3.0 billion, a current ratio of 0.38 (current liabilities exceed current assets).
How much goodwill does Sun Communities have?
Sun Communities carried $111.0 million of goodwill and intangible assets, 0.9% of total assets, at the end of fiscal 2025.