What is Sun Communities Inc worth?
With the base-case assumptions below, a discounted cash flow model on Sun Communities Inc's reported free cash flow gives $86.27 per share. The share price was $112.26 on September 25, 2026, 30% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 5.5% | 10.0% | $55.08 | -51% |
| Base | 10.5% | 9.0% | $86.27 | -23% |
| Bull | 15.5% | 8.0% | $148.44 | +32% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $109.87 | $117.14 | $126.04 | $137.16 | $151.45 |
| 8.0% | $92.20 | $96.92 | $102.50 | $109.19 | $117.37 |
| 9.0% | $79.32 | $82.55 | $86.27 | $90.62 | $95.75 |
| 10.0% | $69.53 | $71.83 | $74.43 | $77.40 | $80.83 |
| 11.0% | $61.85 | $63.53 | $65.41 | $67.53 | $69.93 |
Where the presets come from
Base: years 1 to 5 grow at Sun Communities Inc's revenue growth rate over the last 5 fiscal years (10.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions