Stock EXR EXTRA SPACE STORAGE INC.
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Financials Extra Space Storage Inc.

Equities

EXR

US30225T1025

Specialized REITs

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
133.5 USD -0.27% Intraday chart for Extra Space Storage Inc. +0.76% -16.75%
Apr. 22 Evercore ISI Adjusts Price Target on Extra Space Storage to $139 From $145 MT
Apr. 15 Extra Space Storage Plans Common Stock Offering of up to $800 Million; Shares Decline After Hours MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,679 14,973 30,357 19,711 33,874 28,245 - -
Enterprise Value (EV) 1 18,655 20,610 36,239 26,949 44,792 39,430 39,489 39,617
P/E ratio 32.6 x 31.2 x 36.6 x 23 x 33.8 x 30.5 x 28 x 25.4 x
Yield 3.37% 3.11% 1.98% 4.08% 4.04% 4.91% 5.13% 5.25%
Capitalization / Revenue 12.1 x 12.9 x 22.6 x 11.9 x 15.2 x 10 x 9.69 x 9.3 x
EV / Revenue 16.5 x 17.8 x 27 x 16.3 x 20.2 x 14 x 13.5 x 13 x
EV / EBITDA 21.9 x 23.1 x 29.8 x 20.1 x 26.7 x 17.1 x 16.5 x 15.9 x
EV / FCF 26,652,475 x - - 23,367,246 x - - - -
FCF Yield 0% - - 0% - - - -
Price to Book 5.63 x 5.97 x 9.74 x 6.05 x 2.35 x 2.1 x 2.11 x 2.23 x
Nbr of stocks (in thousands) 129,511 129,235 133,892 133,922 211,278 211,620 - -
Reference price 2 105.6 115.9 226.7 147.2 160.3 133.5 133.5 133.5
Announcement Date 2/18/20 2/22/21 2/23/22 2/22/23 2/27/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,130 1,158 1,341 1,655 2,223 2,815 2,915 3,039
EBITDA 1 853.6 890.6 1,218 1,339 1,676 2,302 2,391 2,488
EBIT 1 633.8 666.1 976 1,050 1,170 1,450 1,512 1,650
Operating Margin 56.08% 57.55% 72.78% 63.48% 52.65% 51.53% 51.87% 54.29%
Earnings before Tax (EBT) 1 451.2 509 859.5 900.7 817.2 1,106 1,126 1,241
Net income 1 420 481.8 827.6 860.7 803.2 970.3 1,062 1,167
Net margin 37.16% 41.62% 61.72% 52.01% 36.14% 34.47% 36.45% 38.4%
EPS 2 3.240 3.710 6.190 6.410 4.740 4.375 4.769 5.264
Free Cash Flow 699.9 - - 1,153 - - - -
FCF margin 61.93% - - 69.7% - - - -
FCF Conversion (EBITDA) 82% - - 86.15% - - - -
FCF Conversion (Net income) 166.66% - - 134% - - - -
Dividend per Share 2 3.560 3.600 4.500 6.000 6.480 6.556 6.853 7.003
Announcement Date 2/18/20 2/22/21 2/23/22 2/22/23 2/27/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 351.4 364.5 379.8 408 428.8 438.1 434 440.7 650.9 697 688.7 699.8 712 712.2 709.7
EBITDA 1 287.8 374 303.2 344.7 341.3 349.5 342 352.4 550.1 529.6 564.7 578.7 587.5 588.9 591.4
EBIT 1 226.3 311.8 235.3 275.7 269.9 269.6 263.5 273.3 299.8 333.5 348.6 366.6 368.3 371.8 392.7
Operating Margin 64.4% 85.52% 61.95% 67.56% 62.93% 61.53% 60.73% 62.02% 46.06% 47.84% 50.62% 52.39% 51.73% 52.21% 55.33%
Earnings before Tax (EBT) 1 198.3 279 211.8 243.3 231.7 213.9 202.9 208 190.8 215.5 225.4 243.4 257.3 251.1 242
Net income 1 188.3 268.4 203.6 232.1 220.7 204.3 196.3 202.4 188.4 216.1 218.5 235.8 243.7 244.3 238.8
Net margin 53.59% 73.63% 53.6% 56.89% 51.48% 46.62% 45.24% 45.92% 28.94% 31.01% 31.72% 33.69% 34.22% 34.3% 33.65%
EPS 2 1.400 2.000 1.438 1.626 1.650 1.520 1.460 1.500 0.9600 1.020 0.9970 1.053 1.097 1.086 1.075
Dividend per Share 2 1.250 1.250 1.500 1.500 1.500 1.500 1.620 1.620 1.620 1.620 1.635 1.658 1.670 1.670 1.709
Announcement Date 10/27/21 2/23/22 5/3/22 8/2/22 11/1/22 2/22/23 5/2/23 8/3/23 11/7/23 2/27/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,976 5,637 5,882 7,239 10,918 11,185 11,244 11,372
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.829 x 6.33 x 4.83 x 5.407 x 6.513 x 4.858 x 4.703 x 4.57 x
Free Cash Flow 700 - - 1,153 - - - -
ROE (net income / shareholders' equity) 17% 18.9% 29.2% 27% 9.1% 6.83% 7.62% 7.54%
ROA (Net income/ Total Assets) 5.13% 5.37% 8.33% 7.6% 4.05% 3.85% 4% 4.7%
Assets 1 8,190 8,964 9,935 11,325 19,812 25,183 26,541 24,825
Book Value Per Share 2 18.80 19.40 23.30 24.30 68.10 63.70 63.20 59.80
Cash Flow per Share 2 - - - 8.740 8.290 8.950 9.300 -
Capex 1 53.7 67.3 1,290 84.9 116 147 95.9 156
Capex / Sales 4.75% 5.81% 96.16% 5.13% 5.23% 5.23% 3.29% 5.12%
Announcement Date 2/18/20 2/22/21 2/23/22 2/22/23 2/27/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Extra Space Storage Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
133.5 USD
Average target price
155.8 USD
Spread / Average Target
+16.70%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Self-Storage REITs
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  4. Financials Extra Space Storage Inc.