Extra Space Financials Overview

EXR Stock

USD 145.09 0.51 0.35%

Reviewing Extra Space's financial data starts with how earnings translate into cash and how leverage compares to asset quality. Extra Space generated $3.38 billion in revenue and $1.02 billion in net income, a profit margin of 27.14%. The balance sheet carries $138.92 million in cash against $14.97 billion in total debt. Extra Space Storage shows moderate financial flexibility with thin profitability across liquidity, leverage, and earnings quality. Return on assets remains in positive territory, consistent with the company's business model and scale.

Cash Flow Balance Sheet Income Statement

Macro event markers

Housing Crash

Credit Downgrade

Yuan Drop

Covid

Interest Hikes

Balance Sheet Account Activities

Long Term Debt stood at $12.01 billion as of December 31, 2025. Meanwhile, Other Stockholder Equity is near current levels at $14.88 billion, while Cash remains stable at $138.92 million.

Total Assets Other Assets Common Stock Shares Outstanding Total Stockholder Equity

Add Fundamental

Key Financial Indicators for Extra Space

Operating Margin

44.0%

Short Term Coverage Ratios

2.15

Short Long Term Debt Total

15.72 billion

Other Current Liab

90.95 million

Price Earnings Ratio

17.63

For Extra Space, balance-sheet leverage, cash flow conversion, and margin trends together define its current financial health. How well Extra Space pays suppliers, services interest, and allocates excess cash reflects operational discipline. Extra Space Storage posted $0.67 in Cash Per Share, $9.07 in Free Cash Flow Per Share, and a Cash Ratio of 0.09 for the reported period.

Net Working Capital

$251.16 million

Extra Space Stock Summary

Extra Space is commonly compared to AvalonBay Communities, Equity Residential, VICI Properties, Iron Mountain, and Public Storage. Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the SP 500. The Company is the second largest owner andor operator of self-storage stores in the United States and is the largest self-storage management company in the United States. Extra Space operates under REITIndustrial classification in the United States and is traded on New York Stock Exchange. It employs 4309 people.

Specialization	Real Estate, Equity Real Estate Investment Trusts (REITs)
Instrument	USA Stock View All
Exchange	New York Stock Exchange
ISIN	US30225T1025
Business Address	2795 East Cottonwood
Sector	Specialized REITs
Industry	Real Estate
Benchmark	Dow Jones Industrial
Website	www.extraspace.com
Phone	801 365 4600
Trading Currency	USD - US Dollar
Reporting Currency	USD - US Dollar

The sections below quantify Extra Space's operating performance, leverage, and cash generation from reported data. The accounts are organized by statement type: what Extra Space owns and owes, what it earns, and what cash it actually generates. These accounts outline the financial structure that underpins Extra Space Storage current market valuation.

Key Financial Ratios

Extra Space's ratios strip out scale differences so that profitability and leverage can be benchmarked against sector peers and Extra Space Storage own historical baselines.

	Return On Equity TTM	0.0683
	Return On Asset TTM	0.0338
	Profit Margin TTM	0.27
	Operating Margin TTM	0.44
	Target Price	152.35

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Key Balance Sheet Accounts

Extra Space's financial position at any reporting date is captured by the interplay between assets and obligations. This line, along with other equity and liability accounts, reveals the funding behind Extra Space's operations. The full breakdown of Extra Space's financing structure follows below.

		2022	2023	2024	2025	2026 (projected)
Inventory		81.3M	-699.2M	26.2M	23.6M	24.7M

Financial Ratio Analysis

ROE stood at 0.07 as of December 31, 2025. Related reported metric: Return On Asset TTM at 1.98% as of December 31, 2025.

Core Fundamental Drivers

Extra Space's fundamental indicators are interdependent - margins, leverage, and asset efficiency reinforce the overall financial profile. Extra Space Storage reports revenue of 3.38 B, a price-to-earnings ratio of 35.2, and an operating margin of 43.98% on a trailing twelve-month basis, compared to 29.0% in the last reported annual period.

	2023	2024	2025	2026 (projected)
Gross Profit	2.0B	2.5B	960.2M	701.5M
Total Revenue	2.6B	3.3B	3.4B	3.5B

Gross Profit Total Revenue

Key Balance Sheet Account Correlations

The correlation matrix above maps how Extra Space's balance sheet accounts move relative to each other across reporting periods. High positive values identify accounts driven by the same underlying forces; negative values flag natural offsets - look for strong inverse pairs, as they often point to built-in hedges or structural trade-offs in Extra Space's operations. Relationships between total assets and total liabilities reveal how changes in leverage affect the overall financial position.

Balance Sheet Account Relationship Matchups

Financial Metrics, Fundamentals & Methodology

Extra Space is best evaluated by comparing cash generation capacity with funding needs and reinvestment demands. Profitability remains modest. Overall market capitalization tier is large-cap. Extra Space financial statements report revenue of 3.38 billion, positive EPS of 4.46, operating margin of 43.98%, current ratio of 2.59 as of the latest reporting period.

Extra Space Storage metrics are compiled from periodic company reporting and market reference feeds and normalized before display. Analyst projections are included when active coverage applies. Financial statement fields are presented under issuer-reported GAAP or IFRS accounting conventions.

Editorial review and methodology oversight provided by: Rifka Kats, Member of Macroaxis Editorial Board

Total Assets	Other Assets
Common Stock Shares Outstanding	Liabilities And Stockholders Equity
Other Current Liab	Total Stockholder Equity
Other Liab	Accounts Payable
Cash	Long Term Debt
Other Stockholder Equity	Total Liab
Preferred Stock Total Equity	Common Stock
Property Plant Equipment	Short Long Term Debt Total
Total Current Liabilities	Property Plant And Equipment Net
Net Debt	Retained Earnings
Non Current Assets Total	Non Current Assets Other
Cash And Short Term Investments	Net Receivables
Common Stock Total Equity	Non Current Liabilities Total
Other Current Assets	Property Plant And Equipment Gross
Total Current Assets	Short Term Debt
Inventory	Short Term Investments
Accumulated Other Comprehensive Income	Intangible Assets
Net Tangible Assets	Total Permanent Equity
Noncontrolling Interest In Consolidated Entity	Good Will
Retained Earnings Total Equity	Long Term Debt Total
Capital Surplus	Additional Paid In Capital
Deferred Long Term Liab	Long Term Investments
Treasury Stock	Non Current Liabilities Other
Temporary Equity Redeemable Noncontrolling Interests	Current Deferred Revenue
Short Long Term Debt	Cash And Equivalents
Net Invested Capital	Net Working Capital
Capital Stock	Capital Lease Obligations

	Total Assets	Accounts Payable	Cash	Total Liab	Common Stock	Net Debt	Retained Earnings	Net Receivables	Inventory	Intangible Assets	Capital Surplus
Total Assets		1.0	0.65	0.99	-0.24	0.98	-0.83	0.94	0.09	0.29	0.98
Accounts Payable	1.0		0.66	0.99	-0.27	0.99	-0.82	0.94	0.06	0.29	0.98
Cash	0.65	0.66		0.67	-0.42	0.65	-0.51	0.61	-0.11	0.33	0.6
Total Liab	0.99	0.99	0.67		-0.28	1.0	-0.83	0.94	0.0	0.33	0.94
Common Stock	-0.24	-0.27	-0.42	-0.28		-0.26	0.2	-0.14	0.09	-0.42	-0.15
Net Debt	0.98	0.99	0.65	1.0	-0.26		-0.85	0.95	0.01	0.33	0.94
Retained Earnings	-0.83	-0.82	-0.51	-0.83	0.2	-0.85		-0.9	-0.24	-0.26	-0.84
Net Receivables	0.94	0.94	0.61	0.94	-0.14	0.95	-0.9		0.03	0.13	0.92
Inventory	0.09	0.06	-0.11	0.0	0.09	0.01	-0.24	0.03		0.26	0.2
Intangible Assets	0.29	0.29	0.33	0.33	-0.42	0.33	-0.26	0.13	0.26		0.23
Capital Surplus	0.98	0.98	0.6	0.94	-0.15	0.94	-0.84	0.92	0.2	0.23

Accounts Payable	+ 1.0	Total Assets
Net Debt	+ 1.0	Total Liab
Total Liab	+ 0.99	Total Assets
Total Liab	+ 0.99	Accounts Payable
Net Debt	+ 0.99	Accounts Payable
Net Debt	+ 0.98	Total Assets

Net Receivables	- 0.9	Retained Earnings
Retained Earnings	- 0.85	Net Debt
Capital Surplus	- 0.84	Retained Earnings
Retained Earnings	- 0.83	Total Liab
Retained Earnings	- 0.83	Total Assets
Retained Earnings	- 0.82	Accounts Payable

Extra Space Financials Overview

Balance Sheet Account Activities

Key Financial Indicators for Extra Space

Net Working Capital

Extra Space Stock Summary

Key Financial Ratios

Key Balance Sheet Accounts

Financial Ratio Analysis

Core Fundamental Drivers

Key Balance Sheet Account Correlations

Balance Sheet Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Financial Metrics, Fundamentals & Methodology