Lamar Advertising
LAMR · Other Specialized REITs
$155.02
1.6%Sun Communities
SUI · Single-Family Residential REITs
$120.24
0.3%The short version
- Sun Communities is the larger business, with $2.3B of revenue in fiscal 2025 against $2.3B for Lamar Advertising.
- Lamar Advertising grew revenue faster (2.7%, against 2.0%).
- Lamar Advertising turned more of its sales into free cash flow (30.2% FCF margin, against 17.7% FCF margin).
- Investors pay more for each dollar of Lamar Advertising’s earnings: a P/E of 28.3x against 10.9x for Sun Communities.
| Latest fiscal year | LAMR · FY25 | SUI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $15.8B | $15.1B |
| Revenue | $2.3B | $2.3B |
| Free cash flow | $683M | $407M |
| Net income | $587M | $1.4B |
| Growth | ||
| Revenue growth | 2.7% | 2.0% |
| 5-year growth | 7.6% | 10.5% |
| Share count change | −0.9% | −1.8% |
| Profitability | ||
| Gross margin | 67.0% | — |
| Operating margin | 34.2% | — |
| Net margin | 25.9% | 61.3% |
| FCF margin | 30.2% | 17.7% |
| Return on capital | 17.3% | — |
| Return on equity | 56.7% | 20.1% |
| Balance sheet | ||
| Net debt | $3.4B | — |
| Net debt / EBITDA | 3.1x | — |
| Dividends and buybacks | $814M | $1.6B |
| Valuation & quality | ||
| P/E | 28.3x | 10.9x |
| Piotroski F-score | 8 | — |
FY16
LAMR $1.5B
SUI $834M
FY17
LAMR $1.5B
SUI $983M
FY18
LAMR $1.6B
SUI $1.1B
FY19
LAMR $1.8B
SUI $1.3B
FY20
LAMR $1.6B
SUI $1.4B
FY21
LAMR $1.8B
SUI $2.3B
FY22
LAMR $2.0B
SUI $3.0B
FY23
LAMR $2.1B
SUI $2.3B
FY24
LAMR $2.2B
SUI $2.3B
FY25
LAMR $2.3B
SUI $2.3B
LAMR
SUI
FY16
LAMR 29.3%
SUI 56.0%
FY17
LAMR 29.6%
SUI 56.1%
FY18
LAMR 28.3%
SUI —
FY19
LAMR 29.5%
SUI —
FY20
LAMR 26.1%
SUI —
FY21
LAMR 29.2%
SUI —
FY22
LAMR 28.4%
SUI —
FY23
LAMR 32.0%
SUI —
FY24
LAMR 24.1%
SUI —
FY25
LAMR 34.2%
SUI —
LAMR
SUI
FY16
LAMR $414M
SUI $18.0M
FY17
LAMR $398M
SUI −$30.6M
FY18
LAMR $447M
SUI −$26.3M
FY19
LAMR $490M
SUI −$92.5M
FY20
LAMR $508M
SUI $4.8M
FY21
LAMR $608M
SUI $81.0M
FY22
LAMR $615M
SUI −$186M
FY23
LAMR $605M
SUI $783M
FY24
LAMR $748M
SUI $831M
FY25
LAMR $683M
SUI $407M
LAMR
SUI
FY16
LAMR 13.4%
SUI —
FY17
LAMR 12.8%
SUI 9.9%
FY18
LAMR 11.8%
SUI 4.4%
FY19
LAMR 12.7%
SUI 5.4%
FY20
LAMR 9.9%
SUI 5.6%
FY21
LAMR 12.5%
SUI 7.2%
FY22
LAMR 12.9%
SUI 4.5%
FY23
LAMR 14.7%
SUI 1.4%
FY24
LAMR 12.0%
SUI 1.2%
FY25
LAMR 17.3%
SUI —
LAMR
SUI
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