Financial Ratios Extra Space Storage Inc.

Stocks

EXR

US30225T1025

Specialized REITs

Market Closed - NYSE Other stock markets 21:00:03 15/07/2026 BST			After hours 00:56:38
144.64 ^USD	-0.59%		145.08	+0.30%

07-15	Jefferies Adjusts Extra Space Storage Price Target to $161 From $166, Maintains Buy Rating	MT
07-10	UBS Adjusts Price Target on Extra Space Storage to $163 From $158	MT

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Published financial data: EXTRA SPACE STORAGE INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	1.34B	1.65B	2.22B	2.8B	2.9B
Property Management Fee	66.26M	83.9M	102M	121M	129M
Other Revenues, Total	202M	227M	291M	414M	422M
Total Revenues	1.61B	1.97B	2.62B	3.34B	3.45B
Property Expenses	379M	450M	638M	791M	861M
Selling General & Admin Expenses, Total	121M	149M	179M	282M	313M
Depreciation & Amortization - (IS) - (Collected)	242M	288M	506M	783M	715M
Total Operating Expenses	742M	887M	1.32B	1.86B	1.89B
Operating Income (REIT / Utility Template)	868M	1.08B	1.29B	1.48B	1.56B
Interest Expense, Total	-166M	-219M	-438M	-595M	-635M
Interest and Investment Income	49.7M	69.42M	84.86M	124M	163M
Net Interest Expenses	-116M	-150M	-353M	-471M	-472M
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	751M	929M	939M	1.01B	1.09B
Total Merger & Related Restructuring Charges	-	-1.46M	-66.73M	-	-
Gain (Loss) on Sale of Investments	6.25M	-	-	-	54.52M
Gain (Loss) on Sale of Assets	141M	14.25M	-	-25.91M	-76.31M
Asset Writedown	-	-	-	-51.76M	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	898M	942M	872M	934M	1.06B
Income Tax Expense	20.32M	20.92M	21.56M	33.48M	41.56M
Earnings From Continuing Operations	878M	921M	850M	900M	1.02B
Net Income to Company	878M	921M	850M	900M	1.02B
Minority Interest	-50.11M	-60.47M	-47.26M	-45.55M	-48.54M
Net Income - (IS)	828M	861M	803M	855M	974M
Preferred Dividend and Other Adjustments	1.18M	1.2M	1.23M	1.5M	1.74M
Net Income to Common Incl Extra Items	826M	859M	802M	853M	972M
Net Income to Common Excl. Extra Items	826M	859M	802M	853M	972M
Per Share Items
Net EPS - Basic	6.2	6.41	4.74	4.03	4.59
Basic EPS - Continuing Operations	6.2	6.41	4.74	4.03	4.59
Basic Weighted Average Shares Outstanding	133M	134M	169M	212M	212M
Net EPS - Diluted	6.19	6.41	4.74	4.03	4.59
Diluted EPS - Continuing Operations	6.19	6.41	4.74	4.03	4.59
Diluted Weighted Average Shares Outstanding	140M	142M	169M	212M	212M
Normalized Basic EPS	3.14	3.88	3.19	2.77	2.97
Normalized Diluted EPS	2.99	3.67	3.19	2.77	2.97
Dividend Per Share	4.5	6	6.48	6.48	6.48
Payout Ratio	72.61	93.57	130.27	160.88	141.1
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	1.11B	1.36B	1.79B	2.26B	2.27B
EBITA	872M	1.09B	1.35B	1.6B	1.58B
EBIT	868M	1.08B	1.29B	1.48B	1.56B
EBITDAR	1.14B	1.41B	1.84B	2.32B	2.35B
Total Revenues (As Reported)	1.58B	1.92B	2.56B	3.26B	3.38B
Effective Tax Rate - (Ratio)	2.26	2.22	2.47	3.59	3.91
Current Domestic Taxes	24.54M	25.14M	32.55M	44.27M	47.23M
Total Current Taxes	24.54M	25.14M	32.55M	44.27M	47.23M
Deferred Domestic Taxes	904K	1.83M	-3.25M	-1.38M	3.65M
Total Deferred Taxes	904K	1.83M	-3.25M	-1.38M	3.65M
Normalized Net Income	419M	520M	539M	587M	630M
Interest on Long-Term Debt	2.81M	4.02M	4.48M	4.72M	4.47M
Supplemental Operating Expense Items
Advertising Expense	18.79M	19.28M	32.8M	50.52M	56.18M
Marketing Expenses	-	-	-	64.15M	70.22M
Selling and Marketing Expenses	18.79M	19.28M	32.8M	115M	126M
General and Administrative Expenses	102M	129M	146M	167M	186M
Net Rental Expense, Total	37.41M	43.5M	47.44M	58.59M	82.08M
Imputed Operating Lease Interest Expense	7.98M	10.95M	17.52M	22.84M	30.71M
Imputed Operating Lease Depreciation	29.43M	32.56M	29.91M	35.75M	51.37M
Maintenance & Repair Expenses, Total	-	-	-	55.1M	61.21M
Stock-Based Comp., G&A Exp. (Total)	17.3M	21.38M	26.64M	28.99M	35.04M
Stock-Based Comp., Other (Total)	-	1K	-	-	499K
Total Stock-Based Compensation	17.3M	21.39M	26.64M	28.99M	35.54M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Gross Property Plant And Equipment	10.78B	12.24B	27.11B	28.31B	29.78B
Accumulated Depreciation	-1.74B	-1.99B	-2.31B	-2.98B	-3.98B
Net Property Plant And Equipment	9.04B	10.24B	24.8B	25.34B	25.8B
Land Held For Development Or Sale	3.23M	-	-	-	-
Total Real Estate Assets	9.05B	10.24B	24.8B	25.34B	25.8B
Cash And Equivalents	71.13M	92.87M	99.06M	138M	139M
Other Receivables	38.07M	152M	145M	136M	148M
Investment In Debt and Equity Securities	300M	300M	300M	300M	300M
Goodwill	-	171M	171M	171M	171M
Other Intangibles, Total	36.74M	21.57M	148M	22.47M	11.59M
Notes Receivable (Collected)	381M	492M	595M	1.24B	1.5B
Mortgage Loans	-	-	-	-	-
Restricted Cash	5.07M	4.87M	6.02M	5.08M	4.26M
Other Current Assets, Total	-	50.32M	85.15M	137M	103M
Trading Asset Securities, Total	271K	54.84M	26.18M	15.73M	3.36M
Deferred Charges Long-Term	-	4.85M	9.79M	7.55M	15.34M
Other Long-Term Assets, Total	596M	582M	1.07B	1.33B	1.07B
Total Assets	10.47B	12.17B	27.46B	28.85B	29.26B
Liabilities
Current Portion of Long-Term Debt	-	-	648M	781M	1.33B
Current Portion of Leases	31.86M	37.15M	41.52M	53.96M	59.42M
Short-Term Borrowings	-	-	-	-	680M
Long-Term Debt	6B	7.33B	10.37B	11.54B	11.22B
Long-Term Leases	326M	337M	339M	794M	842M
Trust Preferred Securities (BS)	-	-	-	-	-
Accounts Payable, Total	142M	172M	335M	347M	358M
Current Income Taxes Payable	-	-	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	63.58M	67.35M	71.07M	75.32M	73.7M
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non-Current	-	-	-	-	-
Other Non Current Liabilities	127M	144M	235M	396M	374M
Total Liabilities	6.69B	8.09B	12.04B	13.99B	14.94B
Common Stock, Total	1.34M	1.34M	2.11M	2.12M	2.11M
Additional Paid In Capital	3.29B	3.35B	14.75B	14.83B	14.88B
Retained Earnings	-128M	-136M	-379M	-899M	-1.45B
Comprehensive Income and Other	-42.55M	48.8M	17.44M	12.81M	-420K
Total Common Equity	3.12B	3.26B	14.39B	13.95B	13.43B
Minority Interest	669M	819M	1.02B	912M	891M
Total Equity	3.79B	4.08B	15.41B	14.86B	14.32B
Total Liabilities And Equity	10.47B	12.17B	27.46B	28.85B	29.26B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	134M	135M	212M	212M	211M
ECS Total Common Shares Outstanding	134M	134M	211M	212M	211M
Book Value / Share	23.27	24.34	68.11	65.79	63.62
Tangible Book Value	3.08B	3.07B	14.07B	13.75B	13.25B
Tangible Book Value Per Share	23	22.9	66.61	64.88	62.75
Total Debt	6.36B	7.71B	11.4B	13.17B	14.13B
Net Debt	6.28B	7.56B	11.28B	13.02B	13.99B
Debt Equivalent Oper. Leases	299M	348M	380M	469M	657M
Minority Interest, Total (Incl. Fin. Div)	669M	819M	1.02B	912M	891M
Equity Method Investments, Total	457M	582M	1.07B	1.33B	1.07B
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	2.15B	2.36B	4.9B	4.99B	5.14B
Buildings, Total	8.23B	9.43B	21.66B	22.34B	23.23B
Machinery, Total	-	42.81M	48.7M	50.36M	65.15M
Full Time Employees	4.31K	4.78K	7.62K	8.01K	8.39K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	828M	861M	803M	855M	974M
Depreciation, Depletion & Amortization	235M	269M	441M	663M	690M
Amortization of Goodwill and Intangible Assets - (CF)	4.78M	13.98M	59.81M	115M	21.18M
Total Depreciation, Depletion & Amortization	239M	283M	501M	778M	711M
Amortization of Deferred Charges, Total	13.02M	13.92M	43.11M	65.7M	63.69M
(Gain) Loss On Sale of Asset - (CF)	-141M	-14.25M	-	25.91M	76.31M
Total Asset Writedown	-	-	-	51.76M	-
(Income) Loss On Equity Investments - (CF)	784K	13.16M	20.06M	17.02M	-25.3M
Stock-Based Compensation (CF)	17.3M	21.39M	26.64M	22.91M	35.54M
Change in Accounts Receivable	-	-	-	-	-
Change in Accounts Payable	10.95M	29.03M	35.03M	964K	7.3M
Change in Other Net Operating Assets (Collected)	-33.38M	7.08M	-35.59M	56.79M	-21.15M
Other Operating Activities	17.43M	23.96M	9.35M	13.99M	28.87M
Cash from Operations	952M	1.24B	1.4B	1.89B	1.85B
Acquisition of Real Estate Assets, Total	-1.29B	-1.38B	-437M	-800M	-1.09B
Sale of Real Estate Assets, Total	573M	39.37M	2.13M	125M	368M
Net Sale / Acquisition of Real Estate Assets	-720M	-1.34B	-435M	-675M	-722M
Cash Acquisitions	-	-157M	-1.18B	-	-
Investment in Marketable and Equity Securities, Total	-23.07M	-119M	-180M	-287M	164M
Other Investing Activities, Total	-94.02M	-35.56M	-20.81M	-686M	-256M
Cash from Investing	-838M	-1.65B	-1.82B	-1.65B	-814M
Long-Term Debt Issued, Total	5.71B	5.58B	8.66B	9.99B	17.83B
Total Debt Issued	5.71B	5.58B	8.66B	9.99B	17.83B
Long-Term Debt Repaid, Total	-5.5B	-4.21B	-7.09B	-8.72B	-17.25B
Total Debt Repaid	-5.5B	-4.21B	-7.09B	-8.72B	-17.25B
Issuance of Common Stock	278M	-	-	365K	-
Repurchase of Common Stock	-	-63.01M	-	-	-150M
Common Dividends Paid	-601M	-805M	-1.05B	-1.38B	-1.37B
Common & Preferred Stock Dividends Paid	-601M	-805M	-1.05B	-1.38B	-1.37B
Other Financing Activities, Total	-50.58M	-76.23M	-105M	-89.14M	-96.76M
Cash from Financing	-167M	432M	423M	-202M	-1.04B
Net Change in Cash	-51.82M	21.54M	7.35M	38.22M	-123K
Supplemental Items
Cash Interest Paid	152M	197M	339M	499M	565M
Cash Income Tax Paid (Refund)	26.25M	18.96M	22.75M	33.77M	35.29M
Net Debt Issued / Repaid	207M	1.38B	1.57B	1.26B	585M
Levered Free Cash Flow	622M	714M	1.12B	730M	1.14B
Unlevered Free Cash Flow	715M	842M	1.36B	1.04B	1.48B
Change In Net Working Capital	82.83M	119M	-35.07M	676M	223M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	5.46	5.96	4.07	3.29	3.35
Return on Total Capital	5.65	6.19	4.2	3.39	3.46
Return On Equity %	26.12	23.43	8.73	5.95	7.01
Return on Common Equity	29.18	26.96	9.09	6.02	7.1
Margin Analysis
Gross Profit Margin %	76.44	77.12	75.6	76.31	75.03
SG&A Margin	7.52	7.56	6.85	8.45	9.07
EBITDA Margin %	68.77	69.3	68.54	67.7	65.83
EBITA Margin %	54.19	55.61	51.68	47.83	45.82
EBIT Margin %	53.89	54.9	49.39	44.4	45.2
Income From Continuing Operations Margin %	54.53	46.86	32.52	26.97	29.67
Net Income Margin %	51.42	43.79	30.71	25.61	28.26
Net Avail. For Common Margin %	51.34	43.73	30.67	25.56	28.21
Normalized Net Income Margin	26.05	26.47	20.63	17.57	18.28
Levered Free Cash Flow Margin	38.62	36.31	42.95	21.87	33.16
Unlevered Free Cash Flow Margin	44.41	42.83	51.97	31.2	42.95
Asset Turnover
Asset Turnover	0.16	0.17	0.13	0.12	0.12
Fixed Assets Turnover	0.19	0.2	0.15	0.13	0.13
Short Term Liquidity
Current Ratio	2.09	3.07	0.87	1.33	0.76
Quick Ratio	0.46	1.09	0.25	0.23	0.12
Operating Cash Flow to Current Liabilities	4.01	4.48	1.28	1.5	0.74
Average Days Payable Outstanding	131.01	127.41	144.77	157.6	149.31
Long Term Solvency
Total Debt/Equity	167.86	188.96	73.97	88.63	98.68
Total Debt / Total Capital	62.67	65.39	42.52	46.99	49.67
LT Debt/Equity	167.02	188.04	69.5	83.01	84.21
Long-Term Debt / Total Capital	62.35	65.08	39.95	44.01	42.38
Total Liabilities / Total Assets	63.86	66.48	43.86	48.49	51.05
EBIT / Interest Expense	5.22	4.92	2.95	2.49	2.45
EBITDA / Interest Expense	6.89	6.41	4.2	3.9	3.7
(EBITDA - Capex) / Interest Expense	6.86	6.31	4.17	3.86	3.67
Total Debt / EBITDA	5.55	5.48	6.2	5.68	6.01
Net Debt / EBITDA	5.49	5.38	6.13	5.61	5.95
Total Debt / (EBITDA - Capex)	5.57	5.57	6.25	5.73	6.07
Net Debt / (EBITDA - Capex)	5.51	5.47	6.18	5.66	6.01
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	16.77	22.11	33.04	27.64	3.68
Gross Profit, 1 Yr. Growth %	20.65	23.2	30.42	26.03	2.07
EBITDA, 1 Yr. Growth %	23.92	23.13	31.58	26.07	1.01
EBITA, 1 Yr. Growth %	29.68	25.3	23.65	18.14	-0.25
EBIT, 1 Yr. Growth %	29.4	24.38	19.71	14.73	6.1
Earnings From Cont. Operations, 1 Yr. Growth %	69.59	4.94	-7.68	5.85	13.59
Net Income, 1 Yr. Growth %	71.79	3.99	-6.68	6.41	13.96
Diluted EPS Before Extra, 1 Yr. Growth %	66.96	3.45	-26.04	-14.97	13.88
Normalized Net Income, 1 Yr. Growth %	47.12	24.09	3.67	8.73	9.02
Net Property, Plant and Equip., 1 Yr. Growth %	11.16	12.85	142.17	2.17	1.87
Total Assets, 1 Yr. Growth %	11.48	16.16	125.65	5.07	1.44
Common Equity, 1 Yr. Growth %	22.32	4.59	341.49	-3.08	-3.69
Tangible Book Value, 1 Yr. Growth %	22.34	-1.06	358.81	-2.26	-3.59
Cash From Operations, 1 Yr. Growth %	23.5	30	13.27	34.58	-1.97
Capital Expenditures, 1 Yr. Growth %	-48.41	524	-29.95	28.26	3.05
Levered Free Cash Flow, 1 Yr. Growth %	97.7	42.98	57.36	-35.02	58.44
Unlevered Free Cash Flow, 1 Yr. Growth %	74.77	42.11	61.42	-23.37	43.33
Dividend Per Share, 1 Yr. Growth %	25	33.33	8	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	10.44	19.41	27.46	30.31	14.8
Gross Profit, 2 Yr. CAGR %	12.08	21.92	26.76	28.51	13.11
EBITDA, 2 Yr. CAGR %	13.13	23.38	27.11	28.55	12.51
EBITA, 2 Yr. CAGR %	15.7	27.47	20.72	20.86	8.09
EBIT, 2 Yr. CAGR %	15.97	26.87	22.02	17.19	9.82
Earnings From Cont. Operations, 2 Yr. CAGR %	39.49	33.41	-1.57	-1.14	9.65
Net Income, 2 Yr. CAGR %	40.38	33.66	-1.49	-0.35	10.12
Diluted EPS Before Extra, 2 Yr. CAGR %	38.37	31.42	-12.53	-20.7	-1.59
Normalized Net Income, 2 Yr. CAGR %	27.71	35.12	13.43	6.17	8.08
Net Property, Plant and Equip., 2 Yr. CAGR %	6.65	12.2	65.31	57.29	2
Total Assets, 2 Yr. CAGR %	10.8	13.8	61.9	53.98	3.24
Common Equity, 2 Yr. CAGR %	10.77	13.11	114.89	106.86	-3.38
Tangible Book Value, 2 Yr. CAGR %	10.76	10.38	113.06	111.76	-2.96
Cash From Operations, 2 Yr. CAGR %	16.01	26.7	21.35	23.47	14.86
Capital Expenditures, 2 Yr. CAGR %	-31.35	79.41	109.07	-5.21	14.96
Levered Free Cash Flow, 2 Yr. CAGR %	11.27	50.66	50	1.12	0.87
Unlevered Free Cash Flow, 2 Yr. CAGR %	8.71	43.47	51.46	11.22	4.37
Dividend Per Share, 2 Yr. CAGR %	12.43	29.1	20	3.92	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	9.95	14.2	23.79	27.52	20.58
Gross Profit, 3 Yr. CAGR %	10.59	15.67	24.69	27.45	18.8
EBITDA, 3 Yr. CAGR %	10.86	16.35	26.05	26.76	18.39
EBITA, 3 Yr. CAGR %	12.52	18.82	26.18	19.85	13.04
EBIT, 3 Yr. CAGR %	12.87	18.71	24.43	19.54	13.02
Earnings From Cont. Operations, 3 Yr. CAGR %	25.22	26.87	18	0.85	3.54
Net Income, 3 Yr. CAGR %	25.84	27.02	18.57	1.08	4.21
Diluted EPS Before Extra, 3 Yr. CAGR %	23.69	25.58	8.5	-13.35	-10.53
Normalized Net Income, 3 Yr. CAGR %	21.43	26.49	23.7	11.84	6.59
Net Property, Plant and Equip., 3 Yr. CAGR %	6.56	8.8	45	40.81	36.07
Total Assets, 3 Yr. CAGR %	10.1	12.56	42.97	40.17	33.98
Common Equity, 3 Yr. CAGR %	8.89	8.67	78.09	64.79	60.33
Tangible Book Value, 3 Yr. CAGR %	8.62	6.91	77.48	64.32	62.87
Cash From Operations, 3 Yr. CAGR %	12.01	20.5	22.06	25.61	14.33
Capital Expenditures, 3 Yr. CAGR %	-5.22	43.27	31.13	77.65	-2.54
Levered Free Cash Flow, 3 Yr. CAGR %	2.45	12.44	52.87	13.5	16.99
Unlevered Free Cash Flow, 3 Yr. CAGR %	2.01	11.65	49.22	20.68	20.7
Dividend Per Share, 3 Yr. CAGR %	10.23	19.01	21.64	12.92	2.6
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	9.88	11.9	16.64	20.39	20.11
Gross Profit, 5 Yr. CAGR %	10.35	12.44	16.79	21.06	20.45
EBITDA, 5 Yr. CAGR %	10.85	12.67	17.15	21.18	20.45
EBITA, 5 Yr. CAGR %	11.78	13.86	17.15	19.63	18.61
EBIT, 5 Yr. CAGR %	12.62	14.14	16.44	18.1	18.37
Earnings From Cont. Operations, 5 Yr. CAGR %	17.19	12.37	13.72	14.82	14.59
Net Income, 5 Yr. CAGR %	17.72	12.43	14.1	15.27	15.12
Diluted EPS Before Extra, 5 Yr. CAGR %	16.33	11.23	7.68	4.49	4.35
Normalized Net Income, 5 Yr. CAGR %	17.21	19.01	18.17	17.93	17.2
Net Property, Plant and Equip., 5 Yr. CAGR %	6.12	7.59	27.11	26.09	25.97
Total Assets, 5 Yr. CAGR %	8.11	10.28	28.46	27.59	25.51
Common Equity, 5 Yr. CAGR %	6.78	6.76	42.92	40.58	39.45
Tangible Book Value, 5 Yr. CAGR %	6.75	5.6	42.4	40.52	39.4
Cash From Operations, 5 Yr. CAGR %	12.05	15.69	15.65	21.68	19.13
Capital Expenditures, 5 Yr. CAGR %	-5.93	23.9	30.06	21.45	24.41
Levered Free Cash Flow, 5 Yr. CAGR %	9.28	8.36	14.21	7.77	29.45
Unlevered Free Cash Flow, 5 Yr. CAGR %	8.87	8.52	15.07	11.48	29.34
Dividend Per Share, 5 Yr. CAGR %	8.96	13.97	14.04	12.73	12.47