8-K Announcements
6Apr 28, 2026·SEC
Feb 19, 2026·SEC
Jan 5, 2026·SEC
Extra Space Storage Inc. (EXR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Extra Space Storage Inc. (EXR) stock price & volume — 10-year historical chart
Extra Space Storage Inc. (EXR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Extra Space Storage Inc. (EXR) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $1.14vs $1.12+1.8% | $856Mvs $851M+0.5% |
| Q1 2026 | Feb 19, 2026 | $1.36vs $1.17+16.2% | $857Mvs $855M+0.3% |
| Q4 2025 | Oct 29, 2025 | $2.08vs $2.06+1.0% | $778Mvs $733M+6.1% |
| Q3 2025 | Jul 30, 2025 | $2.05vs $2.06-0.5% | $842Mvs $732M+14.9% |
Extra Space Storage Inc. (EXR) competitors in Self-Storage REITs — business model, growth, and fundamentals comparison
Extra Space Storage Inc. (EXR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Extra Space Storage Inc. (EXR) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.12B | 1.21B | 1.32B | 1.38B | 1.61B | 1.97B | 2.62B | 3.34B | 3.38B |
| Revenue Growth % | 11.5% | 8.1% | 8.97% | 4.46% | 16.77% | 22.11% | 33.04% | 27.64% | 1.19% |
| Property Operating Expenses | 276.74M | 301.25M | 340.32M | 358.77M | 379.3M | 423.35M | 594M | 790.79M | 2.42B |
| Net Operating Income (NOI) | 843.6M▲ 0% | 909.81M▲ 7.8% | 979.41M▲ 7.7% | 1.02B▲ 4.1% | 1.23B▲ 20.7% | 1.54B▲ 25.3% | 2.02B▲ 31.0% | 2.55B▲ 26.0% | 960.17M▼ 62.3% |
| NOI Margin % | 75.3% | 75.13% | 74.21% | 73.98% | 76.44% | 78.46% | 77.29% | 76.31% | 28.43% |
| Operating Expenses | 189.21M | 290.1M | 344.45M | 353.66M | 254.46M | 491.85M | 850.94M | 1.22B | -528.83M |
| G&A Expenses | 93.37M | 97.41M | 114.52M | 124.93M | 120.99M | 174.88M | 223.32M | 282.06M | 186.34M |
| EBITDA | 734.9M | 828.75M | 854.82M | 890.58M | 1.22B | 1.34B | 1.67B | 2.1B | 2.2B |
| EBITDA Margin % | 65.6% | 68.43% | 64.77% | 64.6% | 75.65% | 68.11% | 63.89% | 62.95% | 65.26% |
| Depreciation & Amortization | 193.3M | 209.05M | 219.86M | 224.44M | 241.88M | 288.32M | 500.68M | 777.72M | 715.18M |
| D&A / Revenue % | 17.25% | 17.26% | 16.66% | 16.28% | 15.03% | 14.67% | 19.15% | 23.3% | 21.17% |
| Operating Income | 541.61M▲ 0% | 619.7M▲ 14.4% | 634.96M▲ 2.5% | 666.14M▲ 4.9% | 975.95M▲ 46.5% | 1.05B▲ 7.6% | 1.17B▲ 11.4% | 1.32B▲ 13.1% | 1.49B▲ 12.5% |
| Operating Margin % | 48.34% | 51.17% | 48.11% | 48.32% | 60.63% | 53.44% | 44.75% | 39.65% | 44.09% |
| Interest Expense | 158.61M | 183.12M | 191.27M | 172.3M | 166.18M | 219.17M | 437.82M | 595.07M | 635.13M |
| Interest Coverage | 3.51x | 3.29x | 3.37x | 3.89x | 5.22x | 4.92x | 2.95x | 2.49x | 2.68x |
| Non-Operating Income | 97.46M | 16.36M | -10.07M | -4.29M | 108.4M | -28.64M | -121.57M | -158.67M | -210.23M |
| Pretax Income | 517.85M▲ 0% | 456.32M▼ 11.9% | 462.43M▲ 1.3% | 531.39M▲ 14.9% | 898.08M▲ 69.0% | 942.08M▲ 4.9% | 872.01M▼ 7.4% | 933.71M▲ 7.1% | 1.06B▲ 14.0% |
| Pretax Margin % | 46.22% | 37.68% | 35.04% | 38.55% | 55.79% | 47.93% | 33.35% | 27.97% | 31.51% |
| Income Tax | 3.63M | 9.24M | 11.31M | 13.81M | 20.32M | 20.93M | 21.56M | 33.48M | 41.56M |
| Effective Tax Rate % | 0.7% | 2.03% | 2.45% | 2.6% | 2.26% | 2.22% | 2.47% | 3.59% | 3.91% |
| Net Income | 479.01M▲ 0% | 415.29M▼ 13.3% | 419.97M▲ 1.1% | 481.78M▲ 14.7% | 827.65M▲ 71.8% | 860.69M▲ 4.0% | 803.2M▼ 6.7% | 854.68M▲ 6.4% | 974M▲ 14.0% |
| Net Margin % | 42.76% | 34.29% | 31.82% | 34.95% | 51.42% | 43.79% | 30.71% | 25.61% | 28.84% |
| Net Income Growth % | 30.83% | -13.3% | 1.13% | 14.72% | 71.79% | 3.99% | -6.68% | 6.41% | 13.96% |
| Funds From Operations (FFO) | 672.31M▲ 0% | 624.34M▼ 7.1% | 639.82M▲ 2.5% | 706.22M▲ 10.4% | 1.07B▲ 51.4% | 1.15B▲ 7.4% | 1.3B▲ 13.5% | 1.63B▲ 25.2% | 1.69B▲ 3.5% |
| FFO Margin % | 60.01% | 51.55% | 48.48% | 51.23% | 66.44% | 58.46% | 49.86% | 48.9% | 50.01% |
| FFO Growth % | 22.53% | -7.14% | 2.48% | 10.38% | 51.44% | 7.43% | 13.48% | 25.2% | 3.48% |
| FFO per Share | 5.01 | 4.69 | 4.69 | 5.45 | 7.64 | 8.11 | 7.71 | 7.72 | 7.97 |
| FFO Payout Ratio % | 58.46% | 68.06% | 71.6% | 66.23% | 56.19% | 70.09% | 80.25% | 84.23% | 81.36% |
| EPS (Diluted) | 3.76▲ 0% | 3.12▼ 17.0% | 3.24▲ 3.8% | 3.71▲ 14.5% | 6.19▲ 66.8% | 6.41▲ 3.6% | 4.74▼ 26.1% | 4.03▼ 15.0% | 4.59▲ 13.9% |
| EPS Growth % | 29.21% | -17.02% | 3.85% | 14.51% | 66.85% | 3.55% | -26.05% | -14.98% | 13.9% |
| EPS (Basic) | 3.79 | 3.28 | 3.27 | 3.71 | 6.20 | 6.41 | 4.74 | 4.03 | 4.59 |
| Diluted Shares Outstanding | 134.16M | 133.16M | 136.43M | 129.58M | 140.02M | 141.68M | 169.22M | 211.58M | 211.85M |
Extra Space Storage Inc. (EXR) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 7.46B | 7.85B | 8.53B | 9.4B | 10.47B | 12.17B | 27.46B | 28.85B | 29.26B |
| Asset Growth % | 5.13% | 5.27% | 8.72% | 10.12% | 11.48% | 16.16% | 125.65% | 5.07% | 1.44% |
| Real Estate & Other Assets | 7.17B | 7.52B | 7.68B | 7.89B | 8.83B | 10.04B | 24.56B | 24.62B | 117.99M |
| PP&E (Net) | 0 | 0 | 264.64M | 252.17M | 257.01M | 264.53M | 275.94M | 740.17M | 797.33M |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Total Current Assets | 86.04M | 72.69M | 114.32M | 421.82M | 617.82M | 792.04M | 929.72M | 1.66B | 1.79B |
| Cash & Equivalents | 55.68M | 57.5M | 65.75M | 109.12M | 71.13M | 92.87M | 99.06M | 138.22M | 138.92M |
| Receivables | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 27.51M | 15.19M | 4.99M | 18.89M | 5.07M | 4.87M | 6.02M | 5.08M | 0 |
| Intangible Assets | 126.82M | 132M | 134.93M | 137.14M | 16.46M | 21.57M | 147.58M | 22.47M | 182.4M |
| Total Liabilities | 4.73B | 5.06B | 5.61B | 6.46B | 6.69B | 8.09B | 12.04B | 13.99B | 14.94B |
| Total Debt | 4.55B | 4.81B | 5.32B | 6.01B | 6.19B | 7.56B | 11.25B | 13.03B | 14.97B |
| Net Debt | 4.5B | 4.75B | 5.26B | 5.9B | 6.12B | 7.47B | 11.15B | 12.89B | 14.83B |
| Long-Term Debt | 4.46B | 4.73B | 4.89B | 4.8B | 5.42B | 6.39B | 10.33B | 10.96B | 12.6B |
| Short-Term Borrowings | 94M | 81M | 158M | 949M | 535M | 945M | 682M | 1.36B | 1.39B |
| Capital Lease Obligations | 0 | 0 | 274.78M | 263.49M | 233.36M | 229.03M | 236.51M | 705.85M | 974.54M |
| Total Current Liabilities | 195.9M | 227.66M | 314.65M | 1.13B | 740.87M | 1.18B | 1.09B | 1.78B | 1.39B |
| Accounts Payable | 96.09M | 101.46M | 111.38M | 130.01M | 142.28M | 171.68M | 334.52M | 346.52M | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 81.03M | 104.38M | 132.77M | 272.8M | 291.53M | 289.65M | 383.46M | 538.87M | -77.42M |
| Total Equity | 2.72B▲ 0% | 2.79B▲ 2.3% | 2.92B▲ 4.9% | 2.94B▲ 0.5% | 3.79B▲ 28.9% | 4.08B▲ 7.7% | 15.41B▲ 278.0% | 14.86B▼ 3.6% | 14.32B▼ 3.6% |
| Equity Growth % | 4.92% | 2.26% | 4.89% | 0.49% | 28.94% | 7.72% | 277.95% | -3.6% | -3.6% |
| Shareholders Equity | 2.35B | 2.41B | 2.54B | 2.55B | 3.12B | 3.26B | 14.39B | 13.95B | 13.43B |
| Minority Interest | 373.06M | 371.7M | 381.73M | 388.35M | 669.48M | 818.68M | 1.02B | 911.83M | 890.87M |
| Common Stock | 1.26M | 1.27M | 1.29M | 1.31M | 1.34M | 1.34M | 2.11M | 2.12M | 2.11M |
| Additional Paid-in Capital | 2.57B | 2.64B | 2.87B | 3B | 3.29B | 3.35B | 14.75B | 14.83B | 14.88B |
| Retained Earnings | -253.28M | -262.9M | -301.05M | -354.9M | -128.25M | -135.87M | -379.01M | -899.34M | -1.45B |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 6.59% | 5.43% | 5.13% | 5.37% | 8.33% | 7.6% | 4.05% | 3.04% | 3.35% |
| Return on Equity (ROE) | 18.01% | 15.08% | 14.72% | 16.45% | 24.62% | 21.89% | 8.24% | 5.65% | 6.68% |
| Debt / Assets | 61.09% | 61.31% | 62.37% | 63.96% | 59.11% | 62.14% | 40.99% | 45.16% | 51.16% |
| Debt / Equity | 1.67x | 1.73x | 1.82x | 2.05x | 1.64x | 1.85x | 0.73x | 0.88x | 1.05x |
| Net Debt / EBITDA | 6.12x | 5.74x | 6.15x | 6.63x | 5.03x | 5.58x | 6.68x | 6.13x | 6.73x |
| Book Value per Share | 20.30 | 20.92 | 21.41 | 22.66 | 27.04 | 28.78 | 91.09 | 70.23 | 67.61 |
Extra Space Storage Inc. (EXR) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 597.38M | 677.79M | 707.69M | 771.23M | 952.44M | 1.24B | 1.4B | 1.89B | 1.85B |
| Operating CF Growth % | 10.78% | 13.46% | 4.41% | 8.98% | 23.5% | 30% | 13.27% | 34.58% | -1.97% |
| Operating CF / Revenue % | 53.32% | 55.97% | 53.62% | 55.94% | 59.17% | 62.99% | 53.63% | 56.55% | 54.78% |
| Net Income | 514.22M | 447.08M | 451.12M | 517.58M | 877.76M | 921.16M | 850.45M | 900.23M | 1.02B |
| Depreciation & Amortization | 193.3M | 209.05M | 219.86M | 224.44M | 241.88M | 288.32M | 506.05M | 783.02M | 715.18M |
| Stock-Based Compensation | 9.56M | 11.18M | 13.05M | 16.28M | 17.3M | 21.39M | 26.64M | 22.91M | 35.54M |
| Other Non-Cash Items | 17.39M | 18.97M | 17.8M | 6.17M | -22.09M | -28.82M | 19.89M | 123.51M | 98.09M |
| Working Capital Changes | -28.87M | 15.46M | 707K | 17.93M | -22.43M | 36.1M | -558K | 57.76M | -21.15M |
| Cash from Investing | -369.56M | -443.9M | -621.63M | -955.43M | -837.54M | -1.65B | -1.82B | -1.65B | -814.21M |
| Acquisitions (Net) | -17.36M | -16.37M | -193.78M | -64.42M | -23.07M | -275.92M | -1.36B | -286.5M | 0 |
| Purchase of Investments | 0 | 0 | 0 | -300M | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -327.9M | -423.23M | -420.09M | -583.91M | -810.81M | -1.35B | -439.57M | -1.34B | -793.07M |
| Cash from Financing | -215.99M | -247.25M | -88.01M | 241.47M | -166.71M | 431.86M | 423.13M | -202.29M | -1.04B |
| Dividends Paid | -393.04M | -424.91M | -458.11M | -467.76M | -600.99M | -805.31M | -1.05B | -1.38B | -1.37B |
| Common Dividends | -393.04M | -424.91M | -458.11M | -467.76M | -600.99M | -805.31M | -1.05B | -1.38B | -1.37B |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Share Repurchases | 0 | 0 | 0 | -67.87M | 0 | -67.51M | 0 | 0 | -149.55M |
| Other Financing | -41.25M | 43.41M | 164.83M | -17.63M | -45.6M | -71.73M | -99.17M | -89.14M | -96.76M |
| Net Change in Cash | 11.82M▲ 0% | -13.35M▼ 212.9% | -1.96M▲ 85.3% | 57.28M▲ 3026.7% | -51.81M▼ 190.5% | 21.54M▲ 141.6% | 7.35M▼ 65.9% | 38.22M▲ 420.1% | -123K▼ 100.3% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 43.86M | 86.04M | 72.69M | 70.73M | 128.01M | 76.19M | 97.73M | 105.08M | 143.3M |
| Cash at End | 55.68M | 72.69M | 70.73M | 128.01M | 76.19M | 97.73M | 105.08M | 143.3M | 143.18M |
| Free Cash Flow | 589.56M▲ 0% | 673.5M▲ 14.2% | 699.92M▲ 3.9% | 764.14M▲ 9.2% | 948.78M▲ 24.2% | 1.22B▲ 28.1% | 1.39B▲ 14.1% | 1.87B▲ 34.7% | 1.83B▼ 2.0% |
| FCF Growth % | 10.34% | 14.24% | 3.92% | 9.17% | 24.16% | 28.09% | 14.08% | 34.65% | -2.03% |
| FCF / Revenue % | 52.62% | 55.61% | 53.04% | 55.43% | 58.94% | 61.83% | 53.02% | 55.93% | 54.15% |
Extra Space Storage Inc. (EXR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 4.36 | 5.01 | 4.69 | 4.69 | 5.45 | 7.64 | 8.11 | 7.71 | 7.72 | 7.97 |
| FFO Payout Ratio | 67.04% | 58.46% | 68.06% | 71.6% | 66.23% | 56.19% | 70.09% | 80.25% | 84.23% | 81.36% |
| NOI Margin | 74.85% | 75.3% | 75.13% | 74.21% | 73.98% | 76.44% | 78.46% | 77.29% | 76.31% | 28.43% |
| Net Debt / EBITDA | 6.74x | 6.12x | 5.74x | 6.15x | 6.63x | 5.03x | 5.58x | 6.68x | 6.13x | 6.73x |
| Debt / Assets | 60.72% | 61.09% | 61.31% | 62.37% | 63.96% | 59.11% | 62.14% | 40.99% | 45.16% | 51.16% |
| Interest Coverage | 3.46x | 3.51x | 3.29x | 3.37x | 3.89x | 5.22x | 4.92x | 2.95x | 2.49x | 2.68x |
| Book Value / Share | 20.61 | 20.3 | 20.92 | 21.41 | 22.66 | 27.04 | 28.78 | 91.09 | 70.23 | 67.61 |
| Revenue Growth | 26.45% | 11.5% | 8.1% | 8.97% | 4.46% | 16.77% | 22.11% | 33.04% | 27.64% | 1.19% |
Extra Space Storage Inc. (EXR) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 28, 2026·SEC
Feb 19, 2026·SEC
Jan 5, 2026·SEC
Extra Space Storage Inc. (EXR) stock FAQ — growth, dividends, profitability & financials explained
Extra Space Storage Inc. (EXR) reported $3.38B in revenue for fiscal year 2025. This represents a 14705% increase from $22.8M in 2001.
Extra Space Storage Inc. (EXR) grew revenue by 1.2% over the past year. Growth has been modest.
Yes, Extra Space Storage Inc. (EXR) is profitable, generating $974.0M in net income for fiscal year 2025 (28.8% net margin).
Yes, Extra Space Storage Inc. (EXR) pays a dividend with a yield of 4.64%. This makes it attractive for income-focused investors.
Extra Space Storage Inc. (EXR) has a return on equity (ROE) of 6.7%. This is below average, suggesting room for improvement.
Extra Space Storage Inc. (EXR) generated Funds From Operations (FFO) of $1.69B in the trailing twelve months. FFO is the primary profitability metric for REITs.
Extra Space Storage Inc. (EXR) offers a 4.64% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
Extra Space Storage Inc. (EXR) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates