Extra Space Storage Inc. EXR

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Extra Space Storage Inc. ("we," "our," "us" or the "Company") is a fully integrated, self-administered and self-managed real estate investment trust ("REIT") formed as a Maryland corporation on April 30, 2004. We closed our initial public offering ("IPO") on August 17, 2004. Our common stock is traded on the New York Stock Exchange under the symbol "EXR."

We were formed to continue the business of Extra Space Storage LLC and its subsidiaries, which had engaged in the self-storage business since 1977. These companies were reorganized after the consummation of our IPO and various formation transactions. Our executive management team and board of directors have extensive experience and ownership positions in the Company.

Last close 143.41 2026-10-23
Market cap $30.30B 2026-06-30 share count
52-week range 125.71 - 158.88

Valuation FY2025 figures against the last close

P/S234.0x
P/E31.2x
P/FCF23.5x
EV/EBITDA14.2x
Dividend yield4.5%
Diluted EPS4.59

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $129.5M$120.9M$102.0M$83.9M$66.3M$52.1M$49.9M$41.8M$39.4M$39.8M
Cost of revenue $918.1M$831.6M$612.0M$435.3M$368.6M$360.6M$336.1M$291.7M$272.0M$250.0M
Gross profit -$788.7M-$710.7M-$510.1M-$351.4M-$302.3M-$308.5M-$286.2M-$249.9M-$232.6M-$210.2M
SG&A $186.3M$167.4M$146.4M$129.3M$102.2M$96.6M$89.4M$81.3M$79.0M$81.8M
Total operating expenses $1.89B$1.86B$1.39B$888.0M$742.2M$708.1M$674.7M$607.7M$563.4M$542.0M
Operating income $1.41B$1.32B$1.17B$1.05B$976.0M$666.1M$635.0M$619.7M$654.4M$458.3M
Interest expense ——$419.0M$219.2M$166.2M——$178.4M$153.5M$133.5M
Pre-tax income $940.8M$852.7M$817.2M$900.7M$859.5M$509.0M$451.2M$441.9M$502.5M$330.8M
Income tax $41.6M$33.5M$21.6M$20.9M$20.3M$13.8M$11.3M$9.2M$3.6M$15.8M
Net income $974.0M$854.7M$803.2M$860.7M$827.6M$481.8M$420.0M$415.3M$479.0M$366.1M
EPS, basic 4.594.034.746.416.203.713.273.293.792.92
EPS, diluted 4.594.034.746.416.193.713.243.273.762.91
Shares, diluted (wtd. avg.) 211.9M211.6M169.2M141.7M140.0M129.6M136.4M133.2M134.2M125.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $138.9M$138.2M$99.1M$92.9M$71.1M$109.1M$65.7M$72.7M$86.0M$57.7M
Property, plant and equipment $65.2M$50.4M$48.7M$42.8M$29.1M—————
Goodwill $170.8M$170.8M$170.8M$170.8M$0—————
Other intangibles $11.6M$32.2M$66.3M$0——————
Total assets $29.26B$28.85B$27.46B$12.17B$10.47B$9.40B$8.53B$7.85B$7.46B$7.09B
Total liabilities $14.94B$13.99B$12.04B$8.09B$6.69B$6.46B$5.61B$5.06B$4.74B$4.50B
Retained earnings -$1.45B-$899.3M-$379.0M-$135.9M-$128.2M-$354.9M-$301.0M-$262.9M-$253.3M-$339.3M
Total equity $13.43B$13.95B$15.41B$4.08B$3.79B$2.94B$2.92B$2.79B$2.72B$2.60B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.85B$1.89B$1.40B$1.24B$952.4M$771.2M$707.7M$677.8M$597.4M$539.3M
Depreciation and amortisation $715.2M$783.0M$506.1M$288.3M$241.9M—$219.9M$209.1M$193.3M$182.6M
Stock-based compensation $35.5M$29.0M$26.5M$21.4M$17.3M$16.3M$13.1M$11.2M$9.6M$8.0M
Capital expenditure $561.7M$479.1M$135.6M$1.19B——————
Investing cash flow -$814.2M-$1.65B-$1.82B-$1.65B-$837.5M-$955.4M-$621.6M-$443.9M-$353.1M-$1.05B
Financing cash flow -$1.04B-$202.3M$423.1M$431.9M-$166.7M$241.5M-$88.0M-$247.3M-$216.0M$460.8M
Dividends paid $1.37B$1.38B$1.05B$805.3M$601.0M$467.8M$458.1M$424.9M$393.0M$367.8M
Buybacks $149.5M$0$0$63.0M$0$67.9M$0$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001289490-26-000011.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B -500M 0 500M 1B Revenue, FY2016: 39.8M Gross profit, FY2016: -210.2M Net income, FY2016: 366.1M Revenue, FY2017: 39.4M Gross profit, FY2017: -232.6M Net income, FY2017: 479M Revenue, FY2018: 41.8M Gross profit, FY2018: -249.9M Net income, FY2018: 415.3M Revenue, FY2019: 49.9M Gross profit, FY2019: -286.2M Net income, FY2019: 420M Revenue, FY2020: 52.1M Gross profit, FY2020: -308.5M Net income, FY2020: 481.8M Revenue, FY2021: 66.3M Gross profit, FY2021: -302.3M Net income, FY2021: 827.6M Revenue, FY2022: 83.9M Gross profit, FY2022: -351.4M Net income, FY2022: 860.7M Revenue, FY2023: 102M Gross profit, FY2023: -510.1M Net income, FY2023: 803.2M Revenue, FY2024: 120.9M Gross profit, FY2024: -710.7M Net income, FY2024: 854.7M Revenue, FY2025: 129.5M Gross profit, FY2025: -788.7M Net income, FY2025: 974M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $39.8M $39.4M $41.8M $49.9M $52.1M $66.3M $83.9M $102.0M $120.9M $129.5M
Gross profit -$210.2M -$232.6M -$249.9M -$286.2M -$308.5M -$302.3M -$351.4M -$510.1M -$710.7M -$788.7M
Net income $366.1M $479.0M $415.3M $420.0M $481.8M $827.6M $860.7M $803.2M $854.7M $974.0M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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