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6Material company update
Apr 28, 2026·SEC
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Extra Space Storage Inc.(EXR)Earnings, Financials & Key Ratios
EXR•NYSE•REIT / Real Estate
31.7× P/E·Price updated Jun 19, 2026
AboutExtra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, D.C. and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States.Show more
- Revenue$3.38B+1.2%
- FFO$1.69B+3.5%
- FFO/Share7.97+3.3%
- FFO Payout81.36%-3.4%
- FFO per Share7.97+3.3%
- NOI Margin28.43%-62.7%
- FFO Margin50.01%+2.3%
- ROE6.68%+18.2%
- ROA3.35%+10.4%
EXR Key Insights
Extra Space Storage Inc. (EXR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y profit CAGR of 15.1%
- ✓Healthy dividend yield of 4.5%
✗Weaknesses
- ✗Low NOI margin of 28.4%
- ✗Dividend payout exceeds 100% of earnings
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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EXR Price & Volume
Extra Space Storage Inc. (EXR) stock price & volume — 10-year historical chart
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EXR Growth Metrics
Extra Space Storage Inc. (EXR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years15.57%
5 Years19.63%
3 Years19.78%
TTM1.19%
Profit CAGR
10 Years17.79%
5 Years15.12%
3 Years4.21%
TTM14.01%
EPS CAGR
10 Years11.4%
5 Years4.35%
3 Years-10.54%
TTM12.38%
Return on Capital
10 Years7.7%
5 Years7.52%
3 Years5.55%
Last Year5.42%
EXR Recent Earnings
Extra Space Storage Inc. (EXR) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 12/12 qtrs (100%)
Q2 2026Latest
Apr 28, 2026Metric
Actual
Est
EPS
$1.14+1.8%
$1.12
Rev
$856M+0.5%
$851M
Q1 2026
Feb 19, 2026Metric
Actual
Est
EPS
$1.36+16.2%
$1.17
Rev
$857M+0.3%
$855M
Q4 2025
Oct 29, 2025Metric
Actual
Est
EPS
$2.08+1.0%
$2.06
Rev
$778M+6.1%
$733M
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$2.05-0.5%
$2.06
Rev
$842M+14.9%
$732M
| 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% |
Based on last 12 quarters of dataView full earnings history →
EXR Peer Comparison
Extra Space Storage Inc. (EXR) competitors in Self-Storage REITs — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 PSA | 55.84B | 318.12 | 35.31 | 2.74% | 39.16% | 20.27% | 1.10 | |
 CUBE | 9.26B | 40.62 | 27.82 | 5.33% | 28.93% | 11.7% | 1.27 | |
 NSA | 3.43B | 44.45 | 63.50 | -2.26% | 11.92% | 5.74% | 2.23 | |
 SST | 28.4M | 2.85 | -0.34 | -22.62% | -42.18% | -5.84% | 0.55 | |
 PLD | 134.64B | 140.54 | 39.70 | 7.18% | 37.86% | 5.78% | 0.61 | |
 REXR | 7.87B | 33.12 | 38.51 | 7.13% | 21.29% | 2.34% | 0.40 | |
 FR | 8.19B | 61.80 | 33.05 | 8.58% | 45.99% | 12.35% | 0.93 | |
 EGP | 10.75B | 199.97 | 41.06 | 12.97% | 39.7% | 8.37% | 0.50 |
Compare EXR vs Peers
Extra Space Storage Inc. (EXR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
EXR Income Statement
Extra Space Storage Inc. (EXR) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | 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 |
EXR Balance Sheet
Extra Space Storage Inc. (EXR) balance sheet — assets, liabilities & shareholders' equity
| Metric | 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 |
EXR Cash Flow Statement
Extra Space Storage Inc. (EXR) cash flow — operating, investing & free cash flow history
| Metric | 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% |
EXR Key Ratios
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% |
Related:EXR Dividend History·EXR Revenue History·EXR Price History·EXR P/E History·EXR Financial Ratios·EXR Institutional Holders
EXR SEC Filings & Documents
Extra Space Storage Inc. (EXR) SEC filings — annual & quarterly reports (10-K, 10-Q)
EXR Frequently Asked Questions
Extra Space Storage Inc. (EXR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
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).
Dividend & Returns
Yes, Extra Space Storage Inc. (EXR) pays a dividend with a yield of 4.46%. 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.
Industry Metrics
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 4.46% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.