Last 46 quarters of trend data · Real Estate · Industrial & Storage REITs
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | — | 58.97 | 29.39 | 44.44 | 42.09 | 98.50 | 63.18 | 66.94 | 64.41 | 15.06 | 14.40 | 30.52 | 31.10 | 38.69 | 16.12 | 23.63 | 23.62 | 32.02 | 108.13 | 50.76 | 50.56 |
| — | -40.1% | -53.5% | -33.6% | -34.6% | +554.0% | +338.8% | +119.4% | +107.1% | -61.1% | -10.7% | +29.2% | +31.7% | +20.8% | -85.1% | -53.5% | -53.3% | -39.1% | +116.1% | -6.9% | +5.8% | |
| P/S Ratio | — | 3.92 | 2.90 | 3.07 | 3.24 | 3.99 | 3.83 | 4.71 | 4.07 | 6.90 | 6.80 | 5.29 | 3.54 | 4.47 | 3.88 | 4.55 | 5.71 | 7.59 | 13.55 | 12.12 | 11.75 |
| — | -1.8% | -24.3% | -34.8% | -20.4% | -42.1% | -43.7% | -10.9% | +15.0% | +54.2% | +75.3% | +16.2% | -38.0% | -41.1% | -71.4% | -62.4% | -51.4% | -23.6% | +154.5% | +135.5% | +151.1% | |
| P/B Ratio | — | 1.97 | 1.42 | 1.47 | 1.49 | 1.78 | 1.65 | 2.03 | 1.70 | 2.78 | 2.76 | 2.15 | 1.29 | 1.56 | 1.37 | 1.56 | 1.83 | 2.28 | 3.83 | 3.30 | 3.88 |
| — | +10.9% | -14.3% | -27.7% | -12.4% | -36.0% | -40.1% | -5.7% | +32.2% | +78.2% | +101.2% | +37.8% | -29.6% | -31.7% | -64.2% | -52.8% | -52.8% | -26.6% | +124.3% | +99.4% | +171.8% | |
| P/FCF | — | 9.47 | 9.26 | 6.60 | 8.32 | 9.43 | 9.81 | 13.48 | 9.76 | 15.30 | 17.14 | 11.14 | 7.77 | 9.32 | 9.65 | 8.71 | 10.95 | 14.12 | 28.12 | 21.01 | 22.58 |
| — | +0.4% | -5.6% | -51.0% | -14.8% | -38.4% | -42.8% | +21.0% | +25.6% | +64.2% | +77.7% | +27.9% | -29.0% | -34.0% | -65.7% | -58.5% | -51.5% | -33.0% | +128.7% | +114.4% | +136.3% | |
| EV / EBITDA | — | 13.50 | 11.75 | 12.14 | 12.61 | 13.92 | 12.99 | 14.16 | 13.54 | 17.69 | 16.80 | 14.95 | 8.27 | 9.55 | 8.55 | 9.24 | 10.14 | 11.93 | 18.71 | 17.19 | 17.16 |
| — | -3.0% | -9.6% | -14.3% | -6.9% | -21.3% | -22.7% | -5.3% | +63.7% | +85.2% | +96.6% | +61.8% | -18.4% | -19.9% | -54.3% | -46.2% | -40.9% | -24.0% | +70.5% | +60.5% | +68.1% | |
| EV / EBIT | — | 23.88 | 17.89 | 20.30 | 20.20 | 26.34 | 23.66 | 25.05 | 22.94 | 16.14 | 15.56 | 27.08 | 19.65 | 22.79 | 20.36 | 23.61 | 26.12 | 32.93 | 49.05 | 39.98 | 40.24 |
| — | -9.3% | -24.4% | -19.0% | -12.0% | +63.2% | +52.0% | -7.5% | +16.7% | -29.2% | -23.5% | +14.7% | -24.8% | -30.8% | -58.5% | -40.9% | -35.1% | -14.6% | +85.9% | +45.2% | +43.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | 22.2% | -28.7% | 70.7% | 70.5% | 70.7% | 72.5% | 72.8% | 72.6% | 72.1% | 73.6% | 22.3% | 73.6% | 72.7% | 79.3% | 73.1% | 73.2% | 73.5% | 77.8% | 73.8% | 73.6% |
| — | -68.7% | -139.6% | -2.9% | -2.8% | -1.9% | -1.5% | +226.3% | -1.4% | -0.7% | -7.1% | -69.5% | +0.6% | -1.2% | +1.9% | -1.0% | -0.6% | +2.4% | +0.6% | +4.4% | +4.0% | |
| Operating Margin | — | 38.2% | 38.5% | 37.6% | 36.2% | 35.8% | 38.8% | 39.5% | 37.8% | 38.2% | 40.4% | 39.0% | 67.0% | 65.6% | 67.3% | 65.7% | 65.9% | 66.1% | 65.8% | 65.3% | 64.7% |
| — | +6.7% | -0.9% | -4.9% | -4.3% | -6.2% | -4.0% | +1.3% | -43.6% | -41.7% | -39.9% | -40.7% | +1.7% | -0.8% | +2.1% | +0.7% | +1.8% | +5.5% | +5.7% | +7.4% | +6.2% | |
| Net Margin | — | 9.6% | 12.2% | 9.8% | 10.3% | 6.9% | 8.8% | 9.7% | 9.0% | 30.1% | 32.0% | 13.3% | 13.5% | 13.8% | 14.8% | 10.6% | 12.5% | 13.4% | 14.5% | 19.8% | 20.6% |
| — | +39.0% | +39.1% | +1.1% | +15.1% | -77.1% | -72.5% | -27.6% | -33.9% | +117.9% | +116.2% | +25.5% | +8.7% | +3.3% | +2.0% | -46.3% | -39.5% | -20.6% | -7.7% | +60.9% | +106.5% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | 1.2% | 1.5% | 1.1% | 1.2% | 0.8% | 0.9% | 1.0% | 0.9% | 2.9% | 3.2% | 1.3% | 1.2% | 1.2% | 1.3% | 0.9% | 1.0% | 1.0% | 1.1% | 1.5% | 1.8% |
| — | +57.1% | +56.5% | +10.7% | +29.0% | -74.1% | -70.9% | -19.7% | -26.3% | +139.9% | +148.8% | +43.2% | +23.1% | +19.5% | +20.0% | -41.6% | -43.1% | -27.0% | -16.6% | +55.8% | +131.8% | |
| ROA | — | 0.4% | 0.4% | 0.4% | 0.4% | 0.2% | 0.3% | 0.3% | 0.3% | 1.0% | 1.1% | 0.5% | 0.5% | 0.5% | 0.5% | 0.4% | 0.4% | 0.5% | 0.5% | 0.7% | 0.8% |
| — | +43.5% | +43.8% | +2.2% | +16.8% | -76.6% | -72.7% | -26.4% | -33.1% | +121.1% | +121.5% | +26.3% | +8.4% | +4.8% | +2.0% | -47.7% | -42.2% | -22.4% | -4.9% | +74.9% | +139.8% | |
| ROIC | — | 1.1% | 1.1% | 1.1% | 1.0% | 1.0% | 1.1% | 1.1% | 1.0% | 1.0% | 1.1% | 1.1% | 1.8% | 1.7% | 1.8% | 1.8% | 1.8% | 1.7% | 1.8% | 1.8% | 1.8% |
| — | +10.2% | +1.9% | -4.4% | -3.4% | -4.4% | -4.3% | +3.7% | -42.5% | -40.4% | -37.9% | -40.0% | +1.9% | +0.7% | +1.6% | -2.4% | -2.9% | +3.0% | +9.4% | +17.3% | +23.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | 2.33 | 2.23 | 2.17 | 2.09 | 2.04 | 1.97 | 1.92 | 1.87 | 1.70 | 1.73 | 1.80 | 1.54 | 1.53 | 1.50 | 1.44 | 1.27 | 1.20 | 1.19 | 0.98 | 1.27 |
| — | +14.4% | +13.5% | +13.0% | +12.1% | +19.9% | +13.7% | +6.8% | +21.4% | +11.4% | +15.7% | +24.6% | +21.4% | +26.6% | +25.4% | +46.5% | -0.0% | -5.2% | -15.4% | -27.8% | -6.7% | |
| Debt / EBITDA | — | 29.38 | 28.89 | 29.08 | 29.55 | 29.83 | 28.48 | 27.80 | 28.56 | 27.06 | 26.11 | 27.40 | 18.11 | 19.01 | 17.94 | 17.83 | 16.65 | 16.53 | 17.83 | 15.89 | 16.92 |
| — | -1.5% | +1.4% | +4.6% | +3.5% | +10.2% | +9.1% | +1.5% | +57.7% | +42.3% | +45.5% | +53.7% | +8.8% | +15.0% | +0.6% | +12.2% | -1.6% | -9.5% | -10.6% | -18.1% | -15.3% | |
| Current Ratio | — | 0.10 | 0.11 | 0.11 | 0.13 | 0.09 | 0.16 | 0.22 | 0.31 | 0.47 | 1.35 | 0.11 | 0.13 | 0.11 | 0.15 | 0.13 | 0.17 | 0.10 | 0.09 | 1.49 | 0.92 |
| — | +12.6% | -30.2% | -50.0% | -58.2% | -80.6% | -88.2% | +103.2% | +132.1% | +321.8% | +786.9% | -14.7% | -19.1% | +8.1% | +71.6% | -91.5% | -82.1% | -88.0% | -89.3% | +446.1% | +328.3% | |
| Quick Ratio | — | 0.10 | 0.11 | 0.11 | 0.13 | 0.09 | 0.16 | 0.22 | 0.31 | 0.47 | 1.35 | 0.11 | 0.13 | 0.11 | 0.15 | 0.13 | 0.17 | 0.10 | 0.09 | 1.49 | 0.92 |
| — | +12.6% | -30.2% | -50.0% | -58.2% | -80.6% | -88.2% | +103.2% | +132.1% | +321.8% | +786.9% | -14.7% | -19.1% | +8.1% | +71.6% | -91.5% | -82.1% | -88.0% | -89.3% | +446.1% | +328.3% | |
| Interest Coverage | — | 1.74 | 1.94 | 1.74 | 1.75 | 1.51 | 1.70 | 1.77 | 1.88 | 3.52 | 3.35 | 1.81 | 2.15 | 2.13 | 2.42 | 2.67 | 3.02 | 2.93 | 3.20 | 3.28 | 3.10 |
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Includes 30+ ratios · 46 years · Updated daily
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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 National Storage Affiliates Trust's business trajectory between earnings reports.