Last 47 quarters of trend data · Real Estate · REIT - Industrial
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Extra Space Storage Inc.'s quarterly P/E stands at 45.2x, down 8.7% year-over-year. EV/EBITDA has compressed 8.7% YoY to 23.8x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 37.48 | 45.17 | 31.24 | 29.00 | 30.16 | 49.50 | 44.15 | 36.39 | 40.90 | 31.66 | 24.81 | 27.90 | 24.37 |
| — | -8.7% | -29.2% | -20.3% | -26.3% | +56.4% | +78.0% | +30.4% | +67.8% | +14.4% | -5.5% | -21.8% | -14.0% | |
| P/S Ratio | 9.60 | 9.60 | 9.28 | 9.37 | 9.42 | 11.61 | 9.93 | 9.93 | 10.83 | 7.78 | 10.18 | 11.34 | 10.19 |
| — | -17.3% | -6.5% | -5.6% | -13.0% | +49.2% | -2.5% | -12.5% | +6.3% | -35.0% | -18.6% | -29.5% | -44.4% | |
| P/B Ratio | 2.15 | 2.06 | 2.13 | 2.13 | 2.13 | 2.65 | 2.17 | 2.12 | 2.29 | 1.53 | 5.29 | 5.78 | 5.17 |
| — | -22.4% | -2.1% | +0.7% | -6.8% | +73.9% | -59.0% | -63.4% | -55.8% | -74.6% | -15.1% | -23.1% | -38.8% | |
| P/FCF | 17.17 | 16.04 | 14.47 | 16.50 | 19.63 | 21.47 | 15.16 | 17.62 | 24.62 | 14.67 | 15.44 | 20.96 | 18.39 |
| — | -25.3% | -4.6% | -6.4% | -20.3% | +46.4% | -1.8% | -16.0% | +33.9% | -28.6% | -10.6% | -19.5% | -48.8% | |
| EV / EBITDA | 21.39 | 23.77 | 20.30 | 19.60 | 19.51 | 26.04 | 22.28 | 20.50 | 22.14 | 19.20 | 20.60 | 22.52 | 20.74 |
| — | -8.7% | -8.9% | -4.4% | -11.8% | +35.6% | +8.2% | -9.0% | +6.7% | -17.0% | -7.9% | -22.6% | -19.3% | |
| EV / EBIT | 33.96 | 12.41 | 25.89 | 29.91 | 30.86 | 32.94 | 29.55 | 31.13 | 32.04 | 23.53 | 25.33 | 28.12 | 25.32 |
| — | -62.3% | -12.4% | -3.9% | -3.7% | +40.0% | +16.7% | +10.7% | +26.5% | -16.3% | -10.8% | -22.1% | -35.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Extra Space Storage Inc.'s operating margin was 35.9% in Q3 2025, down 8.5 pp QoQ and up 0.5 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 43.0% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 46.2% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.3% | 39.5% | 70.9% | 73.1% | 85.2% | 73.5% | 73.8% | 74.7% | 82.9% | 73.2% | 76.3% | 75.4% | 80.6% |
| — | -46.2% | -3.9% | -2.0% | +2.8% | +0.4% | -3.3% | -1.0% | +2.9% | -2.9% | -0.4% | -0.2% | -0.3% | |
| Operating Margin | 39.6% | 35.9% | 44.4% | 46.3% | 45.2% | 35.4% | 36.8% | 41.2% | 41.0% | 39.3% | 52.1% | 51.3% | 52.1% |
| — | +1.4% | +20.7% | +12.3% | +10.4% | -9.9% | -29.3% | -19.7% | -21.3% | -25.7% | -8.3% | -1.2% | -27.1% | |
| Net Margin | 25.6% | 21.9% | 29.7% | 32.2% | 31.2% | 22.6% | 22.5% | 26.2% | 26.6% | 24.7% | 38.6% | 38.2% | 39.5% |
| — | -3.1% | +32.2% | +23.3% | +17.6% | -8.6% | -41.8% | -31.6% | -32.7% | -42.9% | -19.3% | -14.9% | -35.8% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.6% | 1.2% | 1.7% | 1.8% | 1.8% | 1.3% | 1.2% | 1.4% | 1.4% | 1.9% | 5.0% | 4.8% | 5.0% |
| — | -9.1% | +38.8% | +31.7% | +26.2% | -33.3% | -75.6% | -71.3% | -72.2% | -65.3% | -15.9% | -8.8% | -32.9% | |
| ROA | 3.0% | 0.6% | 0.9% | 0.9% | 0.9% | 0.7% | 0.7% | 0.8% | 0.8% | 0.9% | 1.7% | 1.6% | 1.7% |
| — | -16.0% | +27.2% | +20.7% | +17.5% | -26.7% | -59.3% | -52.0% | -53.9% | -51.1% | -22.9% | -16.3% | -35.9% | |
| ROIC | 3.7% | 0.7% | 1.0% | 1.0% | 1.0% | 0.8% | 0.9% | 0.9% | 0.9% | 1.2% | 1.8% | 1.7% | 1.8% |
| — | -11.7% | +16.8% | +10.6% | +10.3% | -28.3% | -51.4% | -44.7% | -47.0% | -37.1% | -12.5% | -3.1% | -27.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Extra Space Storage Inc.'s Debt/EBITDA ratio is 29.9x, up from 24.8x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 31.0% YoY to 1.31x, strengthening the short-term liquidity position. Debt/Equity has risen for 9 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.88 | 0.94 | 0.93 | 0.90 | 0.88 | 0.82 | 0.77 | 0.74 | 0.73 | 0.72 | 1.91 | 1.88 | 1.85 |
| — | +15.2% | +20.0% | +20.3% | +20.1% | +13.7% | -59.5% | -60.3% | -60.6% | -59.5% | +12.4% | +16.3% | +13.4% | |
| Debt / EBITDA | 6.20 | 29.92 | 24.76 | 23.28 | 22.82 | 24.58 | 23.47 | 21.38 | 21.47 | 24.76 | 21.91 | 22.12 | 21.96 |
| — | +21.7% | +5.5% | +8.9% | +6.3% | -0.7% | +7.1% | -3.4% | -2.2% | +16.9% | +14.0% | +7.2% | +31.5% | |
| Current Ratio | 0.93 | 1.31 | 1.56 | 1.23 | 0.93 | 1.00 | 1.06 | 1.00 | 0.85 | 0.93 | 1.46 | 2.21 | 0.67 |
| — | +31.0% | +47.7% | +23.4% | +9.0% | +7.6% | -27.5% | -55.0% | +27.8% | +33.9% | +109.0% | +99.8% | -19.8% | |
| Quick Ratio | 0.93 | 1.31 | 1.56 | 1.23 | 0.93 | 1.00 | 1.06 | 1.00 | 0.85 | 0.93 | 1.46 | 2.21 | 0.67 |
| — | +31.0% | +47.7% | +23.4% | +9.0% | +7.6% | -27.5% | -55.0% | +27.8% | +33.9% | +109.0% | +99.8% | -19.8% | |
| Interest Coverage | 2.22 | 0.37 | 2.37 | 2.53 | 2.54 | 1.97 | 2.06 | 2.34 | 2.38 | 2.29 | 3.16 | 3.29 | 3.70 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonExtra Space Storage Inc.'s current P/E is 37.5x. The average P/E over the last 4 quarters is 33.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Extra Space Storage Inc.'s current operating margin is 39.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Extra Space Storage Inc.'s business trajectory between earnings reports.