Companies / Real Estate
EXR
Extra Space Storage
Self-Storage REITs
Self-Storage REITsAnalysis in progress
In progress
We are decoding this company's strategy and relationships
New analyses are published every weekday. Founding members get them first.
Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health60
Growth62
Profitability80
Cash generationn/a
Balance sheetn/a
Dilution control37
Key ratios and five-year financials
Latest quarter revenue YoY (2026-09-30)6.8%Revenue growth (FY)7.1%Revenue CAGR (3y)15.6%Gross margin-609.1%Operating margin1091.1%Net margin752.3%Free cash flow margin995.1%R&D / revenue—Stock comp / revenue27.4%Net debt / operating cash flow—Current ratio—Diluted share count change0.1%
| Fiscal year ending | FY 2021-12 | FY 2022-12 | FY 2023-12 | FY 2024-12 | FY 2025-12 |
|---|---|---|---|---|---|
| Revenue | $66M | $84M | $102M | $121M | $129M |
| Gross profit | -$302M | -$351M | -$510M | -$711M | -$789M |
| Operating income | $976M | $1.1B | $1.2B | $1.3B | $1.4B |
| Net income | $828M | $861M | $803M | $855M | $974M |
| Operating cash flow | $952M | $1.2B | $1.4B | $1.9B | $1.9B |
| Capital expenditure | — | $1.2B | $136M | $479M | $562M |
| Free cash flow | $952M | $45M | $1.3B | $1.4B | $1.3B |
| Stock-based comp | $17M | $21M | $26M | $29M | $36M |
| Buybacks | $0 | $63M | $0 | $0 | $150M |
| Dividends | $601M | $805M | $1.0B | $1.4B | $1.4B |
| Cash | $71M | $93M | $99M | $138M | $139M |
| Total debt | — | — | — | $500M | — |
| Equity | $3.1B | $3.3B | $14.4B | $13.9B | $13.4B |
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