Extra Space Storage Inc.

10-K & 10-Q Filings

Extra Space Storage Inc. is a Maryland corporation formed in 2004 and taxed as a real estate investment trust (REIT) under the Internal Revenue Code. The company is engaged in the self-storage business, owning, operating, managing, providing lending to, acquiring, developing, and redeveloping self-storage properties. Its primary assets are general partner and limited partner interests in the Extra Space Storage LP, an umbrella partnership REIT. The company's business strategy includes maximizing the performance of its stores, acquiring self-storage stores, and financing its growth through various means. Extra Space Storage operates in two segments: self-storage operations and tenant reinsurance. Its website is www.extraspace.com, and its common stock is traded on the New York Stock Exchange under the symbol "EXR."

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$329.83
409.40
520.61
647.15
782.27
991.88
1105.01
1196.60
1308.45
1356.21
1577.36
1924.17
2560.24
503.05
799.54
18.62%58.94%Cost of Revenue (-)
$95.48
114.03
140.01
172.42
203.97
250.00
271.97
291.69
336.05
360.62
368.61
435.34
612.04
117.17
204.52
16.75%74.55%Gross Profit (+)
$234.35
295.37
380.60
474.74
578.30
741.87
833.04
904.91
972.40
995.60
1208.75
1488.83
1948.21
385.88
595.02
19.30%54.20%Selling, General & Administrative (-)
$49.68
50.45
54.25
60.94
67.76
81.81
78.96
81.26
89.42
96.59
102.19
129.25
146.41
34.76
43.72
9.42%25.77%Depreciation & Amortization (-)
$58.01
74.45
95.23
115.08
133.46
182.56
193.30
209.05
219.86
224.44
241.88
288.32
506.05
78.49
196.97
19.78%150.94%Non-recurring Operating Expenses (-)
$2.14
1.55
Operating Expenses (-)
$118.87
138.13
167.12
196.27
283.65
292.03
291.43
316.01
338.65
347.53
232.80
452.68
778.07
122.34
259.19
16.95%111.86%Costs & Expenses (Total) (-)
$214.35
252.16
307.13
368.69
487.61
542.04
563.40
607.71
674.70
708.15
601.41
888.02
1390.10
239.51
463.71
16.86%93.61%Operating Income/Loss (+)
$115.48
157.24
213.48
278.47
294.66
449.84
541.61
619.70
634.96
666.14
975.95
1050.40
1170.14
263.54
335.83
21.29%27.43%Non-operating Income/Expense (+)
$8.31
12.68
3.25
12.15
15.81
19.04
19.13
19.74
18.74
15.19
49.70
69.42
139.69
29.74
38.58
26.51%29.71%Interest Expense (-)
$65.54
71.41
70.23
84.01
98.99
138.46
158.61
183.12
4.74
3.67
18.79
10.71
-9.89%Earnings before Tax (+)
$52.29
91.61
137.85
188.90
205.48
330.84
502.52
441.87
451.16
509.03
859.47
900.65
817.18
202.88
215.81
25.75%6.37%Tax Expense (-)
$-1.16
-5.41
-9.98
7.57
11.15
15.85
3.63
9.24
11.31
13.81
20.32
20.93
21.56
4.31
6.74
56.50%Income/Loss (Continuing Operations) (+)
$53.45
97.03
147.84
181.33
194.33
315.00
498.89
432.63
439.85
495.22
839.15
879.73
795.62
198.57
209.07
25.24%5.28%Profit/Loss (+)
$58.42
127.69
185.56
195.90
209.54
397.09
514.22
447.08
451.12
517.58
877.76
921.16
850.45
208.88
224.07
25.00%7.28%Net Income/Loss (NCI) (-)
$6.29
6.88
8.01
10.99
11.72
14.70
14.99
13.99
12.49
12.88
14.70
17.62
9.01
2.25
2.21
3.04%-2.04%Net Income/Loss (+)
$50.45
117.31
172.08
178.35
189.47
366.13
479.01
415.29
419.97
481.78
827.65
860.69
803.20
196.30
213.11
25.94%8.56%Net Income/Loss (Common) (+)
$50.45
117.31
172.08
178.35
189.47
366.13
479.01
415.29
419.97
481.78
827.65
860.69
803.20
196.30
213.11
25.94%8.56%EPS (Basic)
$0.55
1.15
1.54
1.54
1.58
2.92
3.79
3.29
3.27
3.71
6.20
6.41
4.74
1.46
1.01
19.66%-30.82%EPS (Diluted)
$0.54
1.14
1.53
1.53
1.56
2.91
3.76
3.27
3.24
3.71
6.19
6.41
4.74
1.46
1.01
19.84%-30.82%Weighted Avg Shares (Basic)
92.10
102.29
111.35
115.71
119.82
125.09
125.97
126.09
128.20
129.54
133.37
134.05
169.22
134.51
211.28
5.20%57.07%Weighted Avg Shares (Diluted)
96.68
106.52
113.11
121.44
126.92
125.95
134.16
133.16
136.43
129.58
140.02
141.68
169.22
142.94
220.02
4.78%53.92%Cash
$26.48
30.79
126.72
47.66
75.80
43.86
55.68
57.50
65.75
109.12
71.13
92.87
99.06
47.95
50.82
11.62%5.97%Securities & Long-term Investments
$2263.80
3098.04
3724.67
4221.41
5792.32
6850.02
7202.52
7617.16
7696.86
7893.80
8834.65
9997.98
25627.49
10592.06
25560.71
22.41%141.32%Property, Plant & Equipment (Net)
$130.41
106.31
88.13
85.71
103.01
79.57
70.09
125.33
264.64
252.17
227.95
221.72
1298.86
827.10
1288.97
21.11%55.84%Other Assets
$95.56
94.66
37.62
47.33
100.29
118.00
126.84
48.00
505.12
1140.75
1340.75
1854.89
430.85
665.56
579.62
13.37%-12.91%Assets (Total)
$2516.25
3223.48
3977.14
4402.11
6071.41
7091.45
7455.14
7847.98
8532.38
9395.85
10474.48
12167.46
27456.26
12132.67
27480.12
22.04%126.50%Accounts Payable
$45.08
52.30
60.60
65.52
82.69
101.39
96.09
101.46
111.38
130.01
142.28
171.68
334.52
178.16
338.03
18.18%89.74%Debt (Non-current)
$1359.25
1574.28
1958.19
2379.66
3418.43
4188.90
4436.77
4780.59
5321.27
6009.79
5957.75
7331.46
11016.75
7331.80
11157.55
19.05%52.18%Other Liabilities
$38.16
51.57
26.46
44.95
197.68
204.99
198.47
180.51
178.03
319.92
588.47
586.04
691.05
590.01
695.56
27.30%17.89%Liabilities (Total)
$1442.49
1678.15
2045.24
2490.12
3698.80
4495.28
4731.33
5062.56
5610.68
6459.72
6688.50
8089.18
12042.31
8099.97
12191.14
19.34%50.51%Retained Earnings
$-264.09
-235.06
-226.00
-257.74
-337.57
-339.26
-253.28
-262.90
-301.05
-354.90
-128.25
-135.87
-379.01
-159.56
-510.15
-219.73%AOCI
$-7.94
-14.27
10.16
-1.48
-6.35
16.77
33.29
34.65
-28.97
-99.09
-42.55
48.80
17.43
35.08
28.19
-19.64%Shareholder's Equity
$1073.76
1545.33
1931.89
1911.98
2372.60
2596.17
2723.81
2785.42
2921.69
2936.12
3785.98
4078.27
15413.95
4032.70
15288.98
24.86%279.13%Liabilities & Equity
$2516.25
3223.48
3977.14
4402.11
6071.41
7091.45
7455.14
7847.98
8532.38
9395.85
10474.48
12167.46
27456.26
12132.67
27480.12
22.04%126.50%Net Income/Loss
$58.42
127.69
185.56
195.90
209.54
397.09
514.22
447.08
451.12
517.58
877.76
921.16
850.45
208.88
224.07
25.00%7.28%Depreciation & Amortization
$65.36
79.52
101.44
121.27
142.14
195.48
205.58
223.34
231.85
235.00
254.33
298.99
543.79
81.56
211.68
19.31%159.55%Increase/Decrease in Working Capital
$-7.62
-25.41
-12.45
-10.13
-9.43
-8.67
28.87
-15.46
-0.71
-17.93
22.43
-36.10
0.56
9.50
-23.15
-343.67%Share-based Compensation
$5.76
4.36
4.82
4.98
6.05
8.04
9.56
11.18
13.05
16.28
17.30
21.39
26.64
5.50
5.91
13.62%7.51%Adjustments to Reconcile Net Income
$85.74
88.19
85.70
141.68
157.79
142.17
83.15
230.72
256.56
253.65
74.68
316.98
552.02
72.77
241.48
16.79%231.84%Net Cash (Operating)
$144.16
215.88
271.26
337.58
367.33
539.26
597.38
677.79
707.69
771.23
952.44
1238.14
1402.47
281.65
465.56
20.88%65.30%Capital Expenditure
$253.09
607.43
-358.38
531.90
387.64
1086.80
398.53
504.40
410.98
394.54
1293.18
1533.64
436.89
67.99
133.48
4.65%96.32%Net Cash (Investing)
$-251.92
-606.94
-366.98
-564.95
-1625.66
-1032.04
-369.56
-443.90
-621.63
-955.43
-837.54
-1648.46
-1818.26
-86.34
-282.07
-226.70%Increase/Decrease in Debt
$
-87.66
246.25
-533.13
-750.07
-1122.44
1325.62
214.51
205.27
1266.27
206.69
1376.41
1574.02
2.54
132.28
5101.69%Increase/Decrease in Equity
$124.77
428.25
203.91
-2.21
438.64
107.38
-25.62
79.10
198.90
36.30
267.06
-72.33
-39.42
-6.08
-5.02
17.40%Interest Expenses
$61.73
65.69
65.51
75.22
89.51
122.27
136.20
159.47
174.16
159.60
152.17
197.07
338.55
78.66
107.76
15.24%37.00%Dividends Paid
$60.15
97.50
176.28
229.23
293.81
398.81
425.01
458.16
492.36
501.38
640.09
863.10
1105.99
234.07
360.44
27.46%53.99%Net Cash (Financing)
$87.49
395.36
191.66
148.31
1286.47
460.83
-215.99
-247.25
-88.01
241.47
-166.71
431.86
423.13
-242.60
-233.18
14.04%3.88%Cash Taxes Paid
$0.67
0.83
1.92
3.42
1.78
14.86
5.65
0.73
10.36
5.18
26.25
18.96
22.75
1.91
1.54
34.23%-19.42%Increase/Decrease in Cash
$-20.27
4.30
95.94
-79.06
28.14
-31.94
11.82
-13.35
-1.96
57.28
-51.81
21.54
7.35
-47.29
-49.70
-5.08%Cash (Beginning)
$46.75
26.48
30.79
126.72
47.66
75.80
43.86
86.04
72.69
70.73
128.01
76.19
97.73
97.73
105.08
6.34%7.52%Cash (Ending)
$26.48
30.79
126.72
47.66
75.80
43.86
55.68
72.69
70.73
128.01
76.19
97.73
105.08
50.44
55.39
12.17%9.80%NOPAT
$115.48
157.24
213.48
278.47
294.66
449.84
541.61
619.70
634.96
666.14
975.95
1050.40
1170.14
263.54
335.83
21.29%27.43%Gross Margin %
71.05%
72.15%
73.11%
73.36%
73.93%
74.79%
75.39%
75.62%
74.32%
73.41%
76.63%
77.38%
76.09%
76.71%
74.42%
Operating Margin %
35.01%
38.41%
41.01%
43.03%
37.67%
45.35%
49.01%
51.79%
48.53%
49.12%
61.87%
54.59%
45.70%
52.39%
42.00%
NOPAT Margin %
35.01%
38.41%
41.01%
43.03%
37.67%
45.35%
49.01%
51.79%
48.53%
49.12%
61.87%
54.59%
45.70%
52.39%
42.00%
Net Margin %
15.30%
28.65%
33.05%
27.56%
24.22%
36.91%
43.35%
34.71%
32.10%
35.52%
52.47%
44.73%
31.37%
39.02%
26.65%
ROA
4.59%
4.88%
5.37%
6.33%
4.85%
6.34%
7.26%
7.90%
7.44%
7.09%
9.32%
8.63%
4.26%
2.17%
1.22%
ROE
10.75%
10.18%
11.05%
14.56%
12.42%
17.33%
19.88%
22.25%
21.73%
22.69%
25.78%
25.76%
7.59%
6.54%
2.20%
Equity Multiplier
2.34
2.09
2.06
2.30
2.56
2.73
2.74
2.82
2.92
3.20
2.77
2.98
1.78
3.01
1.80
Debt/Equity Ratio
1.27
1.02
1.01
1.24
1.44
1.61
1.63
1.72
1.82
2.05
1.57
1.80
0.71
1.82
0.73
Dividend Payout Ratio %
52.09%
62.01%
82.57%
82.32%
99.71%
88.66%
78.47%
73.93%
77.54%
75.27%
65.59%
82.17%
94.52%
88.82%
107.33%
Total Payout
$-2.89
-177.40
-208.37
839.78
694.74
1536.14
-738.79
324.02
262.34
-641.59
318.50
-243.91
-90.06
316.26
340.94
7.80%Payout Ratio %
-2.51%
-112.82%
-97.61%
301.57%
235.78%
341.49%
-136.41%
52.29%
41.32%
-96.32%
32.64%
-23.22%
-7.70%
120.00%
101.52%