What is Extra Space Storage, Inc.'s earnings per share (EPS)?

Extra Space Storage, Inc. (EXR) reported diluted earnings per share of $4.59 for fiscal year 2025. This represents a 13.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Extra Space Storage, Inc. (EXR) Financials

EXR

Trailing 12 months to June 30, 2026

Revenue $3.4B +4.2% YoY

Net Income $957.8M -1.9% YoY

EPS (Diluted) $4.53 -1.7% YoY

Free Cash Flow $1.5B +27.5% YoY

Market Cap $28.4B as of Oct 10, 2026

Price / Sales 8.3x on $3.4B revenue, trailing 12 months to June 30, 2026

Price / Earnings 29.7x on $957.8M net income, trailing 12 months to June 30, 2026

Price / Book 2.1x on $13.3B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EXR SEC filings page.

Extra Space Storage, Inc. (EXR) reported $3.4B in revenue over the twelve months to Jun 30, 2026, up 4.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI EXR FY2025 2026-10-03

The business converts revenue into cash, but reinvestment and leverage temper returns from its large asset base.

The key cash-conversion pattern is that FY2025 operating cash flow of $1.9B exceeded free cash flow of $1.3B, meaning reinvestment consumed a substantial slice of internally generated cash. That capital-intensity gap widened from $480M in FY2024 to $560M in FY2025, so cash generation remained high but less of it was available after investment.

Gross margin fell from 76.1% in FY2023 to 72.8% in FY2025. Yet operating margin recovered from 40.6% in FY2024 to 41.8% in FY2025, so the reported improvement came below gross profit rather than from a wider gross spread.

Debt-to-equity rose from 1.0x in FY2024 to 1.1x in FY2025. Return on assets improved from 3.0% to 3.3%, while equity fell from $13.9B to $13.4B, placing the higher return alongside a thinner equity base.

Financial Health Signals

Financial Health Score 43/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Extra Space Storage, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Extra Space Storage, Inc. scores 79/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Extra Space Storage, Inc. scores 68/100 on it among other REITs.

Leverage

Not available for Extra Space Storage, Inc., and counted as zero in the overall score.

Interest Cov.

Not available for Extra Space Storage, Inc., and counted as zero in the overall score.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Extra Space Storage, Inc. scores 76/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Extra Space Storage, Inc. scores 36/100 on it among other REITs.

Piotroski F-Score Partial

6/7

Extra Space Storage, Inc. passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.90x

For every $1 of reported earnings, Extra Space Storage, Inc. generates $1.90 in operating cash flow ($1.9B OCF vs $974.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$874.2M

YoY+3.9%

QoQ+2.1%

5Y CAGR+18.2%

Extra Space Storage, Inc. generated $874.2M in revenue in Q2 2026. This represents an increase of 3.9% from the same quarter a year earlier. Against the prior quarter it is up 2.1%.

EBITDA

$577.8M

YoY+4.8%

QoQ+4.4%

5Y CAGR+17.6%

Extra Space Storage, Inc.'s EBITDA was $577.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 4.8% from the same quarter a year earlier. Against the prior quarter it is up 4.4%.

Net Income

$263.5M

YoY+5.5%

QoQ+9.3%

5Y CAGR+9.4%

10Y CAGR+12.2%

Extra Space Storage, Inc. reported $263.5M in net income in Q2 2026. This represents an increase of 5.5% from the same quarter a year earlier. Against the prior quarter it is up 9.3%.

EPS (Diluted)

$1.25

YoY+5.9%

QoQ+9.6%

5Y CAGR0.0%

10Y CAGR+6.6%

Extra Space Storage, Inc. earned $1.25 per diluted share (EPS) in Q2 2026. This represents an increase of 5.9% from the same quarter a year earlier. Against the prior quarter it is up 9.6%.

Cash & Balance Sheet

Free Cash Flow

$499.6M

YoY+30.7%

QoQ+4.6%

Extra Space Storage, Inc. generated $499.6M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 30.7% from the same quarter a year earlier. Against the prior quarter it is up 4.6%.

Cash & Debt

$695.2M

YoY+455.9%

QoQ+400.2%

5Y CAGR+65.5%

10Y CAGR+32.7%

Extra Space Storage, Inc. held $695.2M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$1.62

YoY0.0%

QoQ0.0%

5Y CAGR+10.1%

10Y CAGR+7.6%

Extra Space Storage, Inc. paid $1.62 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

211M

YoY-0.5%

QoQ0.0%

5Y CAGR+9.6%

10Y CAGR+5.3%

Extra Space Storage, Inc. had 211M shares outstanding in Q2 2026. This represents a decrease of 0.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Gross Margin

73.5%

YoY+0.5pp

QoQ+1.3pp

5Y change-3.0pp

Extra Space Storage, Inc.'s gross margin was 73.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.

Operating Margin

44.9%

YoY+0.4pp

QoQ+1.9pp

5Y change-7.1pp

Extra Space Storage, Inc.'s operating margin was 44.9% in Q2 2026, reflecting core business profitability. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.

Net Margin

30.1%

YoY+0.5pp

QoQ+2.0pp

5Y change-14.2pp

Extra Space Storage, Inc.'s net profit margin was 30.1% in Q2 2026, showing the share of revenue converted to profit. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Return on Equity

2.0%

YoY+0.2pp

QoQ+0.2pp

5Y change-3.7pp

10Y change-1.9pp

Extra Space Storage, Inc.'s ROE was 2.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.

Capital Allocation

Share Buybacks

YoY-100.0%

QoQ-100.0%

Extra Space Storage, Inc. repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.

Capital Expenditures

$86.8M

YoY-46.3%

QoQ+602.3%

Extra Space Storage, Inc. invested $86.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 46.3% from the same quarter a year earlier. Against the prior quarter it is up 602.3%.

R&D Spending

Not reported for Q2 2026.

EXR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EXR quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$3.4B	$3.4B+3.7%	$3.3B+27.2%	$2.6B+33.1%	$1.9B+22.0%	$1.6B+16.3%	$1.4B+3.6%	$1.3B+9.3%	$1.2B+8.3%	$1.1B+11.4%	$991.9M	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	$937.0M	$918.1M+10.4%	$831.6M+35.9%	$612.0M+40.6%	$435.3M+18.1%	$368.6M+2.2%	$360.6M+7.3%	$336.1M+15.2%	$291.7M+7.3%	$272.0M+8.8%	$250.0M+22.6%	$204.0M+18.3%	$172.4M+23.1%	$140.0M+22.8%	$114.0M+19.4%	$95.5M
Gross Profit	$2.5B	$2.5B+1.4%	$2.4B+24.5%	$1.9B+30.9%	$1.5B+23.2%	$1.2B+21.4%	$995.6M+2.4%	$972.4M+7.5%	$904.9M+8.6%	$833.0M+12.3%	$741.9M	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$189.2M	$186.3M+11.3%	$167.4M+14.3%	$146.4M+13.3%	$129.3M+26.5%	$102.2M+5.8%	$96.6M+8.0%	$89.4M+10.0%	$81.3M+2.9%	$79.0M-3.5%	$81.8M+20.7%	$67.8M+11.2%	$60.9M+12.3%	$54.2M+7.5%	$50.5M+1.6%	$49.7M
Operating Income	$1.4B	$1.4B+6.8%	$1.3B+13.1%	$1.2B+11.4%	$1.1B+7.6%	$976.0M+46.5%	$666.1M+4.9%	$635.0M+2.5%	$619.7M-5.3%	$654.4M+42.8%	$458.3M+55.5%	$294.7M+5.8%	$278.5M+30.4%	$213.5M+35.8%	$157.2M+36.2%	$115.5M
EBITDA	N/A	$2.1B+1.0%	$2.1B+25.7%	$1.7B+25.2%	$1.3B+9.9%	$1.2B	N/A	$854.8M+3.1%	$828.8M-2.2%	$847.7M+32.3%	$640.9M+49.7%	$428.1M+8.8%	$393.5M+27.5%	$308.7M+33.2%	$231.7M+33.5%	$173.5M
Interest Expense	N/A	N/A	N/A	$419.0M+91.2%	$219.2M+31.9%	$166.2M+868.9%	$17.2M-24.5%	$22.7M-87.3%	$178.4M+16.2%	$153.5M+15.0%	$133.5M+39.5%	$95.7M+17.6%	$81.3M+13.5%	$71.6M-0.3%	$71.8M+6.8%	$67.3M
Income Tax	$43.8M	$41.6M+24.1%	$33.5M+55.3%	$21.6M+3.0%	$20.9M+3.0%	$20.3M+47.2%	$13.8M+22.1%	$11.3M+22.3%	$9.2M+155.0%	$3.6M-77.1%	$15.8M+42.2%	$11.1M+47.3%	$7.6M-24.2%	$10.0M+84.4%	$5.4M+368.7%	$1.2M
Net Income	$957.8M	$974.0M+14.0%	$854.7M+6.4%	$803.2M-6.7%	$860.7M+4.0%	$827.6M+71.8%	$481.8M+14.7%	$420.0M+1.1%	$415.3M-13.3%	$479.0M+30.8%	$366.1M+93.2%	$189.5M+6.2%	$178.4M+3.6%	$172.1M+46.7%	$117.3M+132.5%	$50.4M
EPS (Basic)	N/A	$4.59+13.9%	$4.03-15.0%	$4.74-26.1%	$6.41+3.4%	$6.20+67.1%	$3.71+13.5%	$3.27-0.6%	$3.29-13.2%	$3.79+29.8%	$2.92+84.8%	$1.58+2.6%	$1.540.0%	$1.54+33.9%	$1.15+109.1%	$0.55
EPS (Diluted)	$4.53	$4.59+13.9%	$4.03-15.0%	$4.74-26.1%	$6.41+3.6%	$6.19+66.8%	$3.71+14.5%	$3.24-0.9%	$3.27-13.0%	$3.76+29.2%	$2.91+86.5%	$1.56+2.0%	$1.530.0%	$1.53+34.2%	$1.14+111.1%	$0.54
Diluted Shares (Avg)	N/A	212M+0.1%	212M+25.0%	169M+19.4%	142M+1.2%	140M+8.0%	130M-5.0%	136M+2.5%	133M-0.7%	134M+6.5%	126M-0.8%	127M+4.5%	121M+7.4%	113M+9.0%	104M+10.8%	94M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$874.2M+3.9%	$856.0M+4.4%	$857.5M+4.3%	$858.5M+4.1%	$841.6M+3.8%	$820.0M+2.6%	$821.9M+3.0%	$824.8M+10.3%
Cost of Revenue	$231.7M+1.8%	$238.3M+6.6%	$231.5M+4.7%	$235.5M+12.7%	$227.6M+15.6%	$223.6M+9.3%	$221.1M+13.4%	$209.0M+12.9%
Gross Profit	$642.4M+4.6%	$617.7M+3.6%	$626.0M+4.2%	$623.0M+1.2%	$614.0M0.0%	$596.4M+0.2%	$600.8M-0.3%	$615.8M+9.4%
SG&A Expenses	$47.3M+5.3%	$46.5M+1.2%	$51.9M+18.0%	$43.5M+9.4%	$45.0M+12.7%	$46.0M+5.2%	$44.0M+11.7%	$39.8M+6.3%
Operating Income	$392.2M+4.9%	$367.6M-5.4%	$370.9M-2.4%	$279.1M-7.8%	$374.0M+22.7%	$388.7M+15.8%	$380.0M+14.0%	$302.7M+1.0%
EBITDA	$577.8M+4.8%	$553.3M-2.8%	$551.0M-4.4%	$456.6M-8.3%	$551.2M+10.3%	$569.1M+6.8%	$576.2M+8.8%	$497.8M+10.1%
Income Tax	$12.1M+3.7%	$10.8M+20.0%	$9.0M+48.6%	$12.0M+10.2%	$11.6M+18.2%	$9.0M+33.4%	$6.0M+39.7%	$10.9M+56.4%
Net Income	$263.5M+5.5%	$241.0M-11.0%	$287.4M+9.5%	$166.0M-14.1%	$249.7M+34.4%	$270.9M+27.1%	$262.5M+21.4%	$193.2M+2.6%
EPS (Basic)	$1.25+5.9%	$1.14-10.9%	$1.36+9.7%	$0.78-14.3%	$1.18+34.1%	$1.28+26.7%	$1.24+29.2%	$0.91-5.2%
EPS (Diluted)	$1.25+5.9%	$1.14-10.9%	$1.36+9.7%	$0.78-14.3%	$1.18+34.1%	$1.28+26.7%	$1.24+29.2%	$0.91-5.2%
Diluted Shares (Avg)	220M+4.0%	220M+3.9%	N/A	221M+0.5%	212M+0.2%	212M-3.6%	N/A	220M+12.8%

Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.

EXR Balance Sheet

EXR quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$29.3B+1.4%	$28.8B+5.1%	$27.5B+125.7%	$12.2B+16.2%	$10.5B+11.5%	$9.4B+10.1%	$8.5B+8.7%	$7.8B+5.2%	$7.5B+5.2%	$7.1B+16.8%	$6.1B+38.6%	$4.4B+10.2%	$4.0B+23.4%	$3.2B+28.0%	$2.5B
Cash & Equivalents	$138.9M+0.5%	$138.2M+39.5%	$99.1M+6.7%	$92.9M+30.6%	$71.1M-34.8%	$109.1M+66.0%	$65.7M+14.3%	$57.5M+3.3%	$55.7M+27.0%	$43.9M-42.1%	$75.8M+59.0%	$47.7M-62.4%	$126.7M+311.6%	$30.8M+16.2%	$26.5M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$142.1M+9.5%	$129.7M-3.7%	$134.7M+56.8%	$85.9M+3.5%	$83.0M	N/A	N/A	N/A	N/A	N/A	$46.8M+46.4%	$31.9M+21.6%	$26.3M+32.2%	$19.9M+28.0%	$15.5M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$170.8M0.0%	$170.8M0.0%	$170.8M0.0%	$170.8M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$14.9B+6.8%	$14.0B+16.2%	$12.0B+48.9%	$8.1B+20.9%	$6.7B+3.5%	$6.5B+15.1%	$5.6B+10.8%	$5.1B+6.9%	$4.7B+5.4%	$4.5B+21.5%	$3.7B+49.7%	$2.5B+20.8%	$2.0B+21.9%	$1.7B+16.2%	$1.4B
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$604.3M	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$13.4B-3.7%	$13.9B-3.1%	$14.4B+341.5%	$3.3B+4.6%	$3.1B+22.3%	$2.5B+0.3%	$2.5B+5.2%	$2.4B+2.7%	$2.4B+4.7%	$2.2B+7.5%	$2.1B+20.2%	$1.7B-1.2%	$1.8B+17.9%	$1.5B+46.4%	$1.0B
Retained Earnings	-$1.4B-61.1%	-$899.3M-137.3%	-$379.0M-179.0%	-$135.9M-5.9%	-$128.2M+63.9%	-$354.9M-17.9%	-$301.0M-14.5%	-$262.9M-3.8%	-$253.3M+25.3%	-$339.3M-0.5%	-$337.6M-31.0%	-$257.7M-14.0%	-$226.0M+3.9%	-$235.1M+11.0%	-$264.1M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$29.7B+1.0%	$29.1B+0.4%	$29.3B+1.4%	$29.2B+4.2%	$29.4B+5.8%	$29.0B+5.5%	$28.8B+5.1%	$28.1B+1.6%
Cash & Equivalents	$695.2M+455.9%	$139.0M+16.2%	$138.9M+0.5%	$111.9M+25.9%	$125.0M+62.5%	$119.6M+135.3%	$138.2M+39.5%	$88.9M-58.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$114.7M-15.0%	$115.4M-0.6%	$142.1M+9.5%	$133.1M+18.0%	$134.8M-17.8%	$116.1M-15.4%	$129.7M-3.7%	$112.7M-14.3%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$170.8M0.0%	$170.8M0.0%	$170.8M0.0%	$170.8M0.0%	$170.8M0.0%	$170.8M0.0%	$170.8M0.0%	$170.8M0.0%
Total Liabilities	$15.5B+5.4%	$14.9B+4.7%	$14.9B+6.8%	$14.7B+12.5%	$14.7B+16.3%	$14.2B+16.6%	$14.0B+16.2%	$13.1B+8.7%
Total Equity	$13.3B-3.9%	$13.3B-4.0%	$13.4B-3.7%	$13.6B-2.8%	$13.8B-2.7%	$13.9B-2.9%	$13.9B-3.1%	$14.0B-3.6%
Retained Earnings	-$1.6B-51.6%	-$1.6B-59.6%	-$1.4B-61.1%	-$1.3B-53.2%	-$1.1B-61.1%	-$972.7M-90.7%	-$899.3M-137.3%	-$817.9M-223.4%

Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

EXR Cash Flow Statement

EXR quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$1.9B	$1.9B-2.0%	$1.9B+34.6%	$1.4B+13.3%	$1.2B+30.0%	$952.4M+23.5%	$771.2M+9.0%	$707.7M+4.4%	$677.8M+13.5%	$597.4M+10.8%	$539.3M+46.8%	$367.3M+8.8%	$337.6M+24.4%	$271.3M+25.7%	$215.9M+49.7%	$144.2M
Depreciation & Amortization	N/A	$715.2M-8.7%	$783.0M+54.7%	$506.1M+75.5%	$288.3M+19.2%	$241.9M	N/A	$219.9M+5.2%	$209.1M+8.2%	$193.3M+5.9%	$182.6M+36.8%	$133.5M+16.0%	$115.1M+20.8%	$95.2M+27.9%	$74.5M+28.3%	$58.0M
Stock-Based Compensation	N/A	$35.5M+22.6%	$29.0M+9.5%	$26.5M+23.8%	$21.4M+23.6%	$17.3M+6.3%	$16.3M+24.7%	$13.1M+16.8%	$11.2M+16.9%	$9.6M+18.8%	$8.0M+32.9%	$6.1M+21.5%	$5.0M+3.4%	$4.8M+10.6%	$4.4M-24.3%	$5.8M
Capital Expenditures	$363.1M	$561.7M+17.3%	$479.1M+253.3%	$135.6M-88.6%	$1.2B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	$1.5B	$1.3B-8.5%	$1.4B+11.2%	$1.3B+2723.0%	$44.9M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$375.7M	-$814.2M+50.6%	-$1.6B+9.4%	-$1.8B-10.3%	-$1.6B-96.8%	-$837.5M+12.3%	-$955.4M-53.7%	-$621.6M-40.0%	-$443.9M-25.7%	-$353.1M+66.3%	-$1.0B+35.5%	-$1.6B-187.8%	-$564.9M	N/A	N/A	N/A
Financing Cash Flow	-$954.2M	-$1.0B-412.2%	-$202.3M-147.8%	$423.1M-2.0%	$431.9M+359.0%	-$166.7M-169.0%	$241.5M+374.4%	-$88.0M+64.4%	-$247.3M-14.5%	-$216.0M-146.9%	$460.8M-64.2%	$1.3B+767.4%	$148.3M	N/A	N/A	N/A
Dividends Paid	$1.4B	$1.4B-0.1%	$1.4B+31.4%	$1.0B+29.9%	$805.3M+34.0%	$601.0M+28.5%	$467.8M+2.1%	$458.1M+7.8%	$424.9M+8.1%	$393.0M+6.9%	$367.8M+36.6%	$269.3M+28.2%	$210.1M+28.9%	$163.0M+84.6%	$88.3M+69.7%	$52.0M
Share Buybacks	$142.4M	$149.5M	$0	$0-100.0%	$63.0M	$0-100.0%	$67.9M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$586.4M+7.8%	$489.9M+1.8%	$367.8M-9.9%	$457.1M-2.4%	$543.9M-0.3%	$481.4M+3.4%	$408.3M+12.0%	$468.4M+14.7%
Depreciation & Amortization	$185.6M+4.7%	$185.8M+3.0%	$180.1M-8.2%	$177.5M-9.0%	$177.3M-9.0%	$180.4M-8.4%	$196.2M0.0%	$195.0M+28.0%
Stock-Based Compensation	N/A	$7.6M+6.1%	N/A	N/A	N/A	$7.2M+21.2%	N/A	N/A
Capital Expenditures	$86.8M-46.3%	$12.4M-89.4%	$251.0M-2.7%	$12.9M-91.8%	$161.7M+485.1%	$117.1M+233.7%	$258.1M+263.5%	$158.2M+751.7%
Free Cash Flow	$499.6M+30.7%	$477.5M+31.1%	$116.8M-22.2%	$444.2M+43.2%	$382.1M-26.2%	$364.3M-15.4%	$150.2M-48.8%	$310.1M-20.5%
Investing Cash Flow	-$128.3M+52.9%	-$47.5M+86.1%	-$116.6M+84.9%	-$83.4M+26.0%	-$272.2M+43.6%	-$342.0M-21.3%	-$769.4M-322.3%	-$112.7M+91.2%
Financing Cash Flow	$98.4M+137.0%	-$442.1M-177.0%	-$224.3M-154.7%	-$386.2M-12.6%	-$266.0M-631.0%	-$159.6M+31.5%	$410.1M+236.5%	-$342.8M-133.0%
Dividends Paid	$342.0M-0.6%	$342.8M-0.4%	$342.4M-0.5%	$343.8M+0.1%	$343.9M+0.1%	$344.2M0.0%	$344.0M+0.5%	$343.4M+29.4%
Share Buybacks	$0-100.0%	$1.4M	$140.9M	$0	$8.6M	$0	$0	$0

EXR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

EXR quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	72.8%-1.7pp	74.5%-1.6pp	76.1%-1.3pp	77.4%+0.8pp	76.6%+3.2pp	73.4%-0.9pp	74.3%-1.3pp	75.6%+0.2pp	75.4%+0.6pp	74.8%	N/A	N/A	N/A	N/A	N/A
Operating Margin	41.8%+1.2pp	40.6%-5.1pp	45.7%-8.9pp	54.6%-7.3pp	61.9%+12.8pp	49.1%+0.6pp	48.5%-3.3pp	51.8%-7.4pp	59.2%+13.0pp	46.2%	N/A	N/A	N/A	N/A	N/A
Net Margin	28.8%+2.6pp	26.2%-5.1pp	31.4%-13.4pp	44.7%-7.7pp	52.5%+17.0pp	35.5%+3.4pp	32.1%-2.6pp	34.7%-8.6pp	43.4%+6.4pp	36.9%	N/A	N/A	N/A	N/A	N/A
Return on Equity	7.2%+1.1pp	6.1%+0.5pp	5.6%-20.8pp	26.4%-0.2pp	26.6%+7.7pp	18.9%+2.4pp	16.5%-0.7pp	17.2%-3.2pp	20.4%+4.1pp	16.3%+7.2pp	9.1%-1.2pp	10.3%+0.5pp	9.8%+1.9pp	7.9%+2.9pp	5.0%
Return on Assets	3.3%+0.4pp	3.0%0.0pp	2.9%-4.1pp	7.1%-0.8pp	7.9%+2.8pp	5.1%+0.2pp	4.9%-0.4pp	5.3%-1.1pp	6.4%+1.3pp	5.2%+2.0pp	3.1%-1.0pp	4.1%-0.3pp	4.3%+0.7pp	3.6%+1.6pp	2.0%
Debt-to-Equity	1.11+0.1x	1.00+0.2x	0.84-1.6x	2.48+0.3x	2.15-0.4x	2.54+0.3x	2.21+0.1x	2.10+1.8x	0.26-1.7x	2.00+0.2x	1.77+0.3x	1.42+0.3x	1.160.0x	1.12-0.3x	1.42
Asset Turnover	0.120.0x	0.110.0x	0.09-0.1x	0.160.0x	0.150.0x	0.140.0x	0.150.0x	0.150.0x	0.150.0x	0.14	N/A	N/A	N/A	N/A	N/A
FCF Margin	38.1%-5.1pp	43.2%-6.2pp	49.5%+47.2pp	2.3%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	73.5%+0.5pp	72.2%-0.6pp	73.0%-0.1pp	72.6%-2.1pp	73.0%-2.8pp	72.7%-1.7pp	73.1%-2.4pp	74.7%-0.6pp
Operating Margin	44.9%+0.4pp	42.9%-4.5pp	43.3%-3.0pp	32.5%-4.2pp	44.4%+6.8pp	47.4%+5.4pp	46.2%+4.4pp	36.7%-3.4pp
Net Margin	30.1%+0.5pp	28.1%-4.9pp	33.5%+1.6pp	19.3%-4.1pp	29.7%+6.7pp	33.0%+6.4pp	31.9%+4.9pp	23.4%-1.8pp
Return on Equity	2.0%+0.2pp	1.8%-0.1pp	2.1%+0.3pp	1.2%-0.2pp	1.8%+0.5pp	1.9%+0.5pp	1.9%+0.4pp	1.4%+0.1pp
Return on Assets	0.9%0.0pp	0.8%-0.1pp	1.0%+0.1pp	0.6%-0.1pp	0.9%+0.2pp	0.9%+0.1pp	0.9%+0.1pp	0.7%0.0pp
Debt-to-Equity	1.17+0.1x	1.12+0.1x	1.11+0.1x	1.08+0.1x	1.07+0.2x	1.02+0.2x	1.00+0.2x	0.94+0.1x
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x
FCF Margin	57.1%+11.8pp	55.8%+11.3pp	13.6%-4.7pp	51.7%+14.1pp	45.4%-18.4pp	44.4%-9.4pp	18.3%-18.5pp	37.6%-14.5pp

Not reported in any period shown, so not listed: Current Ratio.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Extra Space Storage, Inc. EXR	FY2025	$3.4B	$974.0M	28.8%	$28.4B	43/100
Public Storage PSA	FY2025	$4.8B	$1.8B	37.0%	$54.2B	37/100
PROLOGIS, INC. PLD	FY2025	$8.8B	$3.3B	37.9%	$123.1B	73/100
REXFORD INDUSTRIAL REALTY, INC. REXR	FY2025	$1.0B	$219.8M	21.9%	$8.2B	51/100
Lineage, Inc. LINE	FY2025	$5.4B	-$113.0M	-2.1%	$7.8B	40/100
CubeSmart CUBE	FY2025	$1.1B	$331.3M	29.5%	$8.5B	41/100

Where Extra Space Storage, Inc. Ranks

Frequently Asked Questions

What is Extra Space Storage, Inc.'s annual revenue?

Extra Space Storage, Inc. (EXR) reported $3.4B in total revenue for fiscal year 2025. This represents a 3.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Extra Space Storage, Inc.'s revenue growing?

Extra Space Storage, Inc. (EXR) revenue grew by 3.7% year-over-year, from $3.3B to $3.4B in fiscal year 2025.

Is Extra Space Storage, Inc. profitable?

Yes, Extra Space Storage, Inc. (EXR) reported a net income of $974.0M in fiscal year 2025, with a net profit margin of 28.8%.

What is Extra Space Storage, Inc.'s EBITDA?

Extra Space Storage, Inc. (EXR) had EBITDA of $2.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Extra Space Storage, Inc.'s gross margin?

Extra Space Storage, Inc. (EXR) had a gross margin of 72.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Extra Space Storage, Inc.'s operating margin?

Extra Space Storage, Inc. (EXR) had an operating margin of 41.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Extra Space Storage, Inc.'s net profit margin?

Extra Space Storage, Inc. (EXR) had a net profit margin of 28.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Extra Space Storage, Inc. pay dividends?

Yes, Extra Space Storage, Inc. (EXR) paid $6.48 per share in dividends during fiscal year 2025.

What is Extra Space Storage, Inc.'s return on equity (ROE)?

Extra Space Storage, Inc. (EXR) has a return on equity of 7.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Extra Space Storage, Inc.'s free cash flow?

Extra Space Storage, Inc. (EXR) generated $1.3B in free cash flow during fiscal year 2025. This represents a -8.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Extra Space Storage, Inc.'s operating cash flow?

Extra Space Storage, Inc. (EXR) generated $1.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Extra Space Storage, Inc.'s total assets?

Extra Space Storage, Inc. (EXR) had $29.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Extra Space Storage, Inc.'s capital expenditures?

Extra Space Storage, Inc. (EXR) invested $561.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Extra Space Storage, Inc. buy back shares?

Yes, Extra Space Storage, Inc. (EXR) spent $149.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Extra Space Storage, Inc. have outstanding?

Extra Space Storage, Inc. (EXR) had 211M shares outstanding as of fiscal year 2025.

What is Extra Space Storage, Inc.'s debt-to-equity ratio?

Extra Space Storage, Inc. (EXR) had a debt-to-equity ratio of 1.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Extra Space Storage, Inc.'s return on assets (ROA)?

Extra Space Storage, Inc. (EXR) had a return on assets of 3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Extra Space Storage, Inc.'s P/E ratio?

Extra Space Storage, Inc. (EXR) trades at 29.7x earnings, its market capitalization divided by net income of $957.8M net income, trailing 12 months to June 30, 2026. The market capitalization is $28.4B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Extra Space Storage, Inc.'s price-to-sales ratio?

Extra Space Storage, Inc. (EXR) trades at 8.3x sales, its market capitalization divided by revenue of $3.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $28.4B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Extra Space Storage, Inc.'s Piotroski F-Score?

Extra Space Storage, Inc. (EXR) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Extra Space Storage, Inc.'s earnings high quality?

Extra Space Storage, Inc. (EXR) has an earnings quality ratio of 1.90x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Extra Space Storage, Inc.?

Extra Space Storage, Inc. (EXR) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.