Extra Space Storage Inc. - Understand $exr stock

$EXR Market Cap: $34.77 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$3.233B

TTM

Gross Margin

74.42%

TTM

Net Earnings

$808.0M

TTM

Current Assets

$299.2M

Q3 2024

Current Liabilities

$1.095B

Q3 2024

Current Ratio

27.32%

Q3 2024

Total Assets

$28.06B

Q3 2024

Total Liabilities

$13.10B

Q3 2024

Book Value

$14.96B

Q3 2024

Cash

$88.93M

Q3 2024

P/E

43.02

Nov 29, 2024 EST

Free Cash Flow

$1.203B

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Revenue	$2.560B	$1.924B	$1.577B	$1.356B	$1.308B	$1.197B	$1.105B	$991.9M	$782.3M	$647.2M	$520.6M	$409.4M	$329.8M	$281.5M	$280.1M	$272.7M	$238.9M	$197.3M	$134.7M	$65.70M	$35.80M	$32.40M	$23.00M
YoY Change	33.06%	21.99%	16.31%	3.65%	9.35%	8.29%	11.41%	26.79%	20.88%	24.31%	27.17%	24.12%	17.17%	0.5%	2.71%	14.15%	21.08%	46.47%	105.02%	83.52%	10.49%	40.87%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Revenue	$2.560B	$1.924B	$1.577B	$1.356B	$1.308B	$1.197B	$1.105B	$991.9M	$782.3M	$647.2M	$520.6M	$409.4M	$329.8M	$281.5M	$280.1M	$272.7M	$238.9M	$197.3M	$134.7M	$65.70M	$35.80M	$32.40M	$23.00M
Cost Of Revenue	$612.0M	$435.3M	$368.6M	$360.6M	$336.1M	$291.7M	$272.0M	$250.0M	$204.0M	$172.4M	$140.0M	$114.0M	$95.48M	$86.17M	$94.40M	$89.60M	$77.80M	$64.60M	$47.00M	$26.10M	$14.90M	$11.60M	$8.200M
Gross Profit	$1.948B	$1.489B	$1.209B	$995.6M	$972.4M	$904.9M	$833.0M	$741.9M	$578.3M	$474.7M	$380.6M	$295.4M	$234.3M	$195.3M	$185.8M	$183.1M	$161.1M	$132.7M	$87.70M	$39.60M	$20.90M	$20.80M	$14.80M
Gross Profit Margin	76.09%	77.38%	76.63%	73.41%	74.32%	75.62%	75.39%	74.79%	73.93%	73.36%	73.11%	72.15%	71.05%	69.39%	66.33%	67.14%	67.43%	67.26%	65.11%	60.27%	58.38%	64.2%	64.35%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Selling, General & Admin	$179.2M	$148.5M	$121.0M	$124.9M	$114.5M	$97.40M	$93.40M	$94.70M	$67.80M	$60.90M	$54.20M	$50.50M	$49.70M	$44.40M	$40.20M	$39.40M	$36.70M	$35.60M	$24.10M	$12.50M	$8.300M	$5.900M	$6.800M
YoY Change	20.65%	22.77%	-3.13%	9.08%	17.56%	4.28%	-1.37%	39.68%	11.33%	12.36%	7.33%	1.61%	11.94%	10.45%	2.03%	7.36%	3.09%	47.72%	92.8%	50.6%	40.68%	-13.24%
% of Gross Profit	9.2%	9.98%	10.01%	12.55%	11.77%	10.76%	11.21%	12.77%	11.72%	12.83%	14.24%	17.1%	21.21%	22.73%	21.64%	21.52%	22.78%	26.83%	27.48%	31.57%	39.71%	28.37%	45.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$506.1M	$288.3M	$241.9M	$224.4M	$219.9M	$209.1M	$193.3M	$182.6M	$133.5M	$115.1M	$95.23M	$74.45M	$58.01M	$50.35M	$52.40M	$49.60M	$39.80M	$37.20M	$31.00M	$15.60M	$6.800M	$5.700M	$3.100M
YoY Change	75.52%	19.2%	7.79%	2.07%	5.17%	8.15%	5.88%	36.79%	15.97%	20.84%	27.91%	28.34%	15.22%	-3.91%	5.65%	24.62%	6.99%	20.0%	98.72%	129.41%	19.3%	83.87%
% of Gross Profit	25.98%	19.37%	20.01%	22.54%	22.61%	23.1%	23.2%	24.61%	23.08%	24.24%	25.02%	25.21%	24.76%	25.78%	28.2%	27.09%	24.71%	28.03%	35.35%	39.39%	32.54%	27.4%	20.95%
Operating Expenses	$685.3M	$436.9M	$362.9M	$349.4M	$334.4M	$306.5M	$286.7M	$277.2M	$201.2M	$176.1M	$149.5M	$124.9M	$107.8M	$96.80M	$92.60M	$89.00M	$76.50M	$72.70M	$55.10M	$27.90M	$15.10M	$11.60M	$9.800M
YoY Change	56.86%	20.39%	3.85%	4.49%	9.1%	6.91%	3.43%	37.77%	14.25%	17.79%	19.7%	15.86%	11.36%	4.54%	4.04%	16.34%	5.23%	31.94%	97.49%	84.77%	30.17%	18.37%
Operating Profit	$1.170B	$1.050B	$976.0M	$666.1M	$635.0M	$619.7M	$654.4M	$458.3M	$294.7M	$278.5M	$213.5M	$157.2M	$115.5M	$90.82M	$93.20M	$94.10M	$84.60M	$60.00M	$32.60M	$11.70M	$5.800M	$9.200M	$5.000M
YoY Change	11.4%	7.63%	46.51%	4.91%	2.46%	-5.3%	42.79%	55.54%	5.81%	30.44%	35.77%	36.17%	27.16%	-2.56%	-0.96%	11.23%	41.0%	84.05%	178.63%	101.72%	-36.96%	84.0%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Interest Expense	$419.0M	-$108.3M	-$77.87M	-$134.7M	-$172.5M	$178.4M	$153.5M	$133.5M	$95.68M	$81.33M	$71.63M	$71.85M	$67.30M	$64.12M	-$56.40M	-$54.90M	-$47.30M	-$43.80M	-$37.80M	-$26.90M	-$16.80M	-$12.90M	-$11.40M
YoY Change	-486.85%	39.1%	-42.19%	-21.91%	-196.67%	16.24%	15.01%	39.5%	17.65%	13.54%	-0.31%	6.76%	4.97%	-213.68%	2.73%	16.07%	7.99%	15.87%	40.52%	60.12%	30.23%	13.16%
% of Operating Profit	35.81%	-10.31%	-7.98%	-20.22%	-27.17%	28.79%	23.46%	29.12%	32.47%	29.21%	33.55%	45.69%	58.28%	70.6%	-60.52%	-58.34%	-55.91%	-73.0%	-115.95%	-229.91%	-289.66%	-140.22%	-228.0%
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Pretax Income	$817.2M	$900.7M	$859.5M	$509.0M	$451.2M	$441.9M	$502.5M	$330.8M	$205.5M	$188.9M	$137.9M	$91.61M	$52.29M	$30.78M	$43.40M	$43.90M	$35.30M	$15.90M	-$5.400M	-$17.70M	-$15.20M	-$5.700M	-$3.900M
YoY Change	-9.27%	4.79%	68.84%	12.83%	2.1%	-12.07%	51.89%	61.01%	8.77%	37.03%	50.48%	75.2%	69.87%	-29.07%	-1.14%	24.36%	122.01%	-394.44%	-69.49%	16.45%	166.67%	46.15%
Income Tax	$21.56M	$20.93M	$20.32M	$13.81M	$11.31M	$9.244M	$3.625M	$15.85M	$11.15M	$7.570M	$9.984M	$5.413M	$1.155M	$4.162M	$4.300M	$500.0K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
% Of Pretax Income	2.64%	2.32%	2.36%	2.71%	2.51%	2.09%	0.72%	4.79%	5.43%	4.01%	7.24%	5.91%	2.21%	13.52%	9.91%	1.14%	0.0%	0.0%
Net Earnings	$803.2M	$860.7M	$827.6M	$481.8M	$420.0M	$415.3M	$479.0M	$366.1M	$189.5M	$178.4M	$172.1M	$117.3M	$50.45M	$33.37M	$32.00M	$35.80M	$31.70M	$14.90M	-$5.000M	-$18.50M	-$17.90M	-$9.500M	-$4.900M
YoY Change	-6.68%	3.99%	71.79%	14.72%	1.13%	-13.3%	30.83%	93.23%	6.23%	3.65%	46.69%	132.53%	51.16%	4.29%	-10.61%	12.93%	112.75%	-398.0%	-72.97%	3.35%	88.42%	93.88%
Net Earnings / Revenue	31.37%	44.73%	52.47%	35.52%	32.1%	34.71%	43.35%	36.91%	24.22%	27.56%	33.05%	28.65%	15.3%	11.86%	11.42%	13.13%	13.27%	7.55%	-3.71%	-28.16%	-50.0%	-29.32%	-21.3%
Basic Earnings Per Share	$4.74	$6.41	$6.20	$3.71	$3.27	$3.29	$3.79	$2.92	$1.58	$1.54	$1.54	$1.15	$0.55	$0.30
Diluted Earnings Per Share	$4.74	$6.41	$6.19	$3.71	$3.24	$3.27	$3.76	$2.91	$1.56	$1.53	$1.53	$1.14	$0.54	$0.30	$351.3K	$434.5K	$448.4K	$251.3K	-$140.8K	-$1.209M	-$632.5K	-$335.7K	-$173.1K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Cash & Short-Term Investments	$99.06M	$92.87M	$71.13M	$109.1M	$65.70M	$57.50M	$55.70M	$43.90M	$75.80M	$47.70M	$126.7M	$30.80M	$26.50M	$46.80M	$132.0M	$64.00M	$17.40M	$70.80M	$28.70M	$24.30M	$11.70M	$6.500M
YoY Change	6.67%	30.57%	-34.81%	66.06%	14.26%	3.23%	26.88%	-42.08%	58.91%	-62.35%	311.36%	16.23%	-43.38%	-64.55%	106.25%	267.82%	-75.42%	146.69%	18.11%	107.69%	80.0%
Cash & Equivalents	$99.06M	$92.87M	$71.13M	$109.1M	$65.70M	$57.50M	$55.70M	$43.90M	$75.80M	$47.70M	$126.7M	$30.80M	$26.50M	$46.80M	$132.0M	$64.00M	$17.40M	$70.80M	$28.70M	$24.30M	$11.70M	$6.500M
Short-Term Investments
Other Short-Term Assets	$85.15M								$11.50M	$8.900M	$8.400M	$7.900M	$5.300M	$6.900M	$5.200M	$5.800M	$5.200M	$5.100M	$5.100M	$2.300M	$800.0K
YoY Change									29.21%	5.95%	6.33%	49.06%	-23.19%	32.69%	-10.34%	11.54%	1.96%	0.0%	121.74%	187.5%
Inventory
Prepaid Expenses
Receivables								$16.60M	$49.00M	$43.70M	$39.60M	$31.00M	$34.10M	$22.60M	$20.20M	$22.50M	$15.90M	$25.30M	$31.90M	$2.500M	$2.100M	$3.800M
Other Receivables								$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$318.9M	$92.87M	$71.13M	$109.1M	$65.70M	$57.50M	$55.70M	$60.50M	$136.3M	$100.3M	$174.7M	$69.70M	$65.90M	$76.30M	$157.4M	$92.30M	$38.50M	$101.2M	$65.70M	$29.10M	$14.60M	$10.30M
YoY Change	243.42%	30.57%	-34.81%	66.06%	14.26%	3.23%	-7.93%	-55.61%	35.89%	-42.59%	150.65%	5.77%	-13.63%	-51.52%	70.53%	139.74%	-61.96%	54.03%	125.77%	99.32%	41.75%
Property, Plant & Equipment	$24.83B	$10.26B	$9.063B	$8.146B	$7.962B	$7.492B	$7.132B	$6.770B	$5.700B	$4.145B	$3.646B	$2.937B	$2.224B	$1.937B	$2.013B	$1.962B	$1.807B	$1.393B	$1.192B	$684.5M	$355.0M	$306.9M
YoY Change	141.97%	13.24%	11.25%	2.32%	6.27%	5.04%	5.35%	18.77%	37.51%	13.71%	24.14%	32.06%	14.8%	-3.77%	2.62%	8.59%	29.67%	16.92%	74.07%	92.82%	15.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$1.372B	$948.6M	$1.177B	$991.3M	$338.1M	$125.3M	$75.90M	$79.60M	$106.6M	$89.30M	$91.70M	$109.9M	$134.0M	$144.2M	$136.0M	$139.2M	$117.0M	$88.10M	$90.90M	$6.200M	$8.400M	$9.100M
YoY Change	44.6%	-19.37%	18.68%	193.2%	169.83%	65.09%	-4.65%	-25.33%	19.37%	-2.62%	-16.56%	-17.99%	-7.07%	6.03%	-2.3%	18.97%	32.8%	-3.08%	1366.13%	-26.19%	-7.69%
Other Assets	$6.021M	$4.867M	$5.068M	$18.90M	$5.000M	$15.20M	$30.40M	$13.90M	$32.50M	$26.60M	$43.30M	$40.30M	$44.80M	$49.30M	$58.30M	$55.20M	$53.80M	$58.60M	$34.50M	$13.30M	$4.700M	$5.100M
YoY Change	23.71%	-3.97%	-73.19%	278.0%	-67.11%	-50.0%	118.71%	-57.23%	22.18%	-38.57%	7.44%	-10.04%	-9.13%	-15.44%	5.62%	2.6%	-8.19%	69.86%	159.4%	182.98%	-7.84%
Total Long-Term Assets	$27.14B	$12.07B	$10.40B	$9.287B	$8.467B	$7.791B	$7.405B	$7.031B	$5.935B	$4.282B	$3.802B	$3.154B	$2.452B	$2.174B	$2.250B	$2.199B	$2.016B	$1.569B	$1.355B	$719.4M	$369.2M	$322.0M
YoY Change	124.75%	16.06%	12.02%	9.69%	8.68%	5.2%	5.33%	18.46%	38.62%	12.61%	20.57%	28.64%	12.8%	-3.41%	2.34%	9.08%	28.5%	15.81%	88.28%	94.85%	14.66%
Total Assets	$27.46B	$12.17B	$10.47B	$9.396B	$8.532B	$7.848B	$7.461B	$7.091B	$6.071B	$4.382B	$3.977B	$3.224B	$2.518B	$2.250B	$2.408B	$2.291B	$2.054B	$1.670B	$1.420B	$748.5M	$383.8M	$332.3M
YoY Change
Accounts Payable	$334.5M	$171.7M	$142.3M	$130.0M	$111.4M	$101.5M	$96.10M	$101.4M	$82.70M	$65.50M	$60.60M	$52.30M	$46.40M	$35.20M	$33.40M	$35.10M	$31.30M	$10.80M	$13.30M	$3.400M	$27.10M	$23.30M
YoY Change	94.85%	20.66%	9.45%	16.7%	9.75%	5.62%	-5.23%	22.61%	26.26%	8.09%	15.87%	12.72%	31.82%	5.39%	-4.84%	12.14%	189.81%	-18.8%	291.18%	-87.45%	16.31%
Accrued Expenses	$236.5M	$229.0M	$233.4M	$263.5M	$274.8M													$4.000M	$3.400M	$1.800M	$1.200M	$1.100M
YoY Change	3.27%	-1.85%	-11.44%	-4.11%														17.65%	88.89%	50.0%	9.09%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$700.0K	$2.100M	$3.800M	$5.800M	$7.000M	$6.300M	$3.000M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change									-100.0%	-66.67%	-44.74%	-34.48%	-17.14%	11.11%	110.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$571.0M	$400.7M	$375.6M	$393.5M	$386.2M	$101.5M	$96.10M	$103.1M	$84.90M	$66.90M	$63.40M	$56.10M	$52.20M	$42.20M	$41.80M	$40.90M	$31.70M	$17.60M	$18.30M	$5.200M	$28.30M	$24.40M
YoY Change	42.5%	6.67%	-4.54%	1.89%	280.49%	5.62%	-6.79%	21.44%	26.91%	5.52%	13.01%	7.47%	23.7%	0.96%	2.2%	29.02%	80.11%	-3.83%	251.92%	-81.63%	15.98%
Long-Term Debt	$11.16B	$7.477B	$6.026B	$5.746B	$5.047B	$4.812B	$4.554B	$4.306B	$3.536B	$2.350B	$1.958B	$1.578B	$1.364B	$1.247B	$1.403B	$1.287B	$1.320B	$948.2M	$866.8M	$473.0M	$273.8M	$231.0M
YoY Change	49.26%	24.09%	4.86%	13.87%	4.88%	5.65%	5.76%	21.8%	50.46%	20.0%	24.13%	15.69%	9.37%	-11.13%	9.03%	-2.5%	39.19%	9.39%	83.26%	72.75%	18.53%
Other Long-Term Liabilities	$310.9M	$211.5M	$287.2M	$319.9M	$178.0M	$149.6M	$86.80M	$76.10M	$67.50M	$48.00M	$20.20M	$44.40M	$27.90M	$21.60M	$16.60M	$16.40M	$17.70M	$25.30M	$18.80M	$5.200M	$37.50M	$27.00M
YoY Change	47.04%	-26.37%	-10.22%	79.72%	18.98%	72.35%	14.06%	12.74%	40.63%	137.62%	-54.5%	59.14%	29.17%	30.12%	1.22%	-7.34%	-30.04%	34.57%	261.54%	-86.13%	38.89%
Total Long-Term Liabilities	$11.47B	$7.688B	$6.313B	$6.066B	$5.225B	$4.961B	$4.641B	$4.382B	$3.603B	$2.398B	$1.978B	$1.622B	$1.392B	$1.269B	$1.420B	$1.303B	$1.338B	$973.5M	$885.6M	$478.2M	$311.3M	$258.0M
YoY Change	49.2%	21.79%	4.07%	16.11%	5.31%	6.9%	5.9%	21.63%	50.27%	21.2%	21.97%	16.56%	9.7%	-10.64%	8.93%	-2.56%	37.39%	9.93%	85.19%	53.61%	20.66%
Total Liabilities	$13.07B	$8.908B	$7.358B	$6.848B	$5.992B	$5.434B	$5.110B	$4.847B	$3.982B	$2.645B	$2.219B	$1.732B	$1.499B	$1.368B	$1.523B	$1.412B	$1.434B	$1.026B	$940.1M	$504.9M	$362.1M	$304.8M
YoY Change	46.67%	21.06%	7.45%	14.28%	10.27%	6.34%	5.44%	21.7%	50.58%	19.2%	28.12%	15.55%	9.51%	-10.17%	7.87%	-1.53%	39.74%	9.17%	86.2%	39.44%	18.8%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Basic Shares Outstanding	169.2M shares	134.1M shares	133.4M shares	129.5M shares	128.2M shares	126.1M shares	126.0M shares	125.1M shares	119.8M shares	115.7M shares	111.3M shares	101.8M shares	91.30M shares	87.32M shares
Diluted Shares Outstanding	169.2M shares	141.7M shares	140.0M shares	129.6M shares	136.4M shares	133.2M shares	134.2M shares	125.9M shares	126.9M shares	121.4M shares	113.1M shares	103.8M shares	93.63M shares	92.05M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $34.765 Billion

About Extra Space Storage Inc.

Extra Space Storage, Inc. is a real estate investment trust. The company is headquartered in Salt Lake City, Utah and currently employs 7,618 full-time employees. The company went IPO on 2004-08-12. The company owns, operates, manages, acquires, develops and redevelops professionally managed self-storage properties (stores) located throughout the United States. Its interest in its stores is held through its operating partnership, Extra Space Storage LP (the Operating Partnership). The company owns and/or operates 3,812 self-storage stores in 42 states and Washington, D.C. Its stores comprise approximately 2.6 million units and approximately 292.1 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands. The company offers customers a selection of storage units, including boat storage, recreational vehicle (RV) storage and business storage. Its Self-storage operations segment include rental operations of wholly owned stores. Its Tenant reinsurance segment include the reinsurance of risks relating to the loss of goods stored by tenants in its stores.

Industry: Real Estate Investment Trusts Peers: AMERICAN TOWER CORP /MA/ DIGITAL REALTY TRUST, INC. EQUINIX INC Gaming & Leisure Properties, Inc. IRON MOUNTAIN INC Public Storage SBA COMMUNICATIONS CORP VICI PROPERTIES INC. WEYERHAEUSER CO