Overview
Extra Space Storage Inc.
Latest 10-K: FY2025, filed Feb 20, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $3.38B
- 3.7%YoYup from FY2024
- TotalRevenue
- Gross profit
- $2.46B
- 1.4%YoYup from FY2024
- GrossProfit
- Operating income
- $1.41B
- 6.8%YoYup from FY2024
- OperatingIncome
- Net income
- $0.97B
- 14.0%YoYup from FY2024
- NetIncome
- Diluted EPS
- $4.59
- 13.9%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 211.9M
- 0.1%YoYup from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Extra Space Storage Inc. reported revenue of $3.38B for fiscal 2025, up 3.7% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Operating margin was 41.8% and net margin was 28.8%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $4.59, up 13.9% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 30, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $3.38B3.7%up Benchmark median 6.4% | $3.26B27.2%up Benchmark median 4.5% | $2.56B33.1%up Benchmark median 4.8% | $1.92B22.0%up Benchmark median 10.3% | $1.58B16.3%up Benchmark median 13.8% | 21.0% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $2.46B1.4%up Benchmark median 6.8% | $2.43B24.5%up Benchmark median 5.5% | $1.95B30.9%up Benchmark median 5.2% | $1.49B23.2%up Benchmark median 8.3% | $1.21B21.4%up Benchmark median 15.7% | 19.4% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $1.41B6.8%up Benchmark median 7.3% | $1.32B13.1%up Benchmark median 7.4% | $1.17B11.4%up Benchmark median 4.9% | $1.05B7.6%up Benchmark median 7.5% | $0.98B46.5%up Benchmark median 23.5% | 9.7% Benchmark median 7.2% |
| Net Income | $974.00M14.0%up Benchmark median 4.8% | $854.68M6.4%up Benchmark median 5.7% | $803.20M6.7%down Benchmark median 1.9% | $860.69M4.0%up Benchmark median 1.3% | $827.65M71.8%up Benchmark median 33.9% | 4.2% Benchmark median 4.1% |
| EPS (Diluted) | $4.5913.9%up Benchmark median 6.2% | $4.0315.0%down Benchmark median 7.9% | $4.7426.1%down Benchmark median 1.9% | $6.413.6%up Benchmark median 1.5% | $6.1966.8%up Benchmark median 34.8% | -7.2% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $29.26B1.4%up Benchmark median 5.6% | $28.85B5.1%up Benchmark median 3.4% | $27.46B125.7%up Benchmark median 4.1% | $12.17B16.2%up Benchmark median 2.2% | $10.47B11.5%up Benchmark median 6.7% | 29.3% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $14.94B6.8%up Benchmark median 6.4% | $13.99B16.2%up Benchmark median 1.9% | $12.04B48.9%up Benchmark median 2.9% | $8.09B20.9%up Benchmark median 2.0% | $6.69B3.5%up Benchmark median 5.2% | 22.3% Benchmark median 4.4% |
| Stockholders' Equity | $14.32B3.6%down Benchmark median 6.8% | $14.86B3.6%down Benchmark median 5.4% | $15.41B278.0%up Benchmark median 7.3% | $4.08B7.7%up Benchmark median 2.5% | $3.79B28.9%up Benchmark median 9.0% | 39.5% Benchmark median 6.1% |
| Cash & Equivalents | $138.92M0.5%up Benchmark median 5.2% | $138.22M39.5%up Benchmark median 1.9% | $99.06M6.7%up Benchmark median 6.7% | $92.87M30.6%up Benchmark median -8.6% | $71.13M34.8%down Benchmark median -2.9% | 18.2% Benchmark median 2.0% |
| Total Debt | — | $500.00M† Benchmark median 0.2% | — | — | — | — Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.85B2.0%down Benchmark median 6.3% | $1.89B34.6%up Benchmark median 4.8% | $1.40B13.3%up Benchmark median 9.9% | $1.24B30.0%up Benchmark median -0.7% | $0.95B23.5%up Benchmark median 10.7% | 18.1% Benchmark median 7.0% |
| Capital Expenditures | $0.56B17.3%up Benchmark median 5.4% | $0.48B253.3%up Benchmark median 2.8% | $0.14B88.6%down Benchmark median 11.3% | $1.19B Benchmark median 14.0% | — | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $1.29B8.5%down Benchmark median 7.3% | $1.41B11.2%up Benchmark median 6.1% | $1.27B2723.0%up Benchmark median 8.8% | $0.04B Benchmark median -11.3% | — | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
3.5%
Wall Street
on net earnings
FY2024 2.7%
4.7%
Value investor
on free cash flow
FY2024 4.4%
Gap +1.2 pts: Value-investor figure 1.2 points higher
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 28.4×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
51.9%
Wall Street
on book equity
FY2024 46.9%
51.3%
Value investor
on tangible book
FY2024 46.4%
Gap −0.6 pts: Value-investor figure 0.6 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 1.9×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
6.7%
Wall Street
ROE: net income ÷ equity
FY2024 5.6%
4.7%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 4.4%
Gap −2.0 pts: Value-investor figure 2.0 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
63.0%
Wall Street
EBITDA margin
FY2024 64.7%
38.1%
Value investor
Free-cash-flow margin
FY2024 43.2%
Gap −24.9 pts: Value-investor figure 24.9 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Interest cover
How many times earnings pay the year's interest
475.9×
Wall Street
EBITDA ÷ interest
FY2024 446.1×
316.0×
Value investor
EBIT ÷ interest
FY2024 280.3×
Gap −159.9×: Value-investor figure 159.9 lower
How it’s calculated
Wall Street · EBITDA ÷ interest
EBITDA ÷ interest expense
ebitda_interest_coverage (ratio table)
Value investor · EBIT ÷ interest
Operating income ÷ interest expense
interest_coverage (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on EXR yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on EXR and publish the result to your public profile.
Cite this page
Data as of Oct 30, 2026. Canonical address: https://valuein.biz/data/EXR
Valuein. (2026, October 30). Extra Space Storage Inc. (EXR) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/EXR
@misc{valuein_exr_2026,
author = {{Valuein}},
title = {Extra Space Storage Inc. (EXR) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/EXR}},
note = {Data as of 2026-10-30; source: SEC EDGAR filings}
}10-K filed Feb 20, 2026 · accession 0001289490-26-000011
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing
Index names are trademarks of their owners; Valuein is not affiliated with or endorsed by any index provider.