Stocktoria

Extra Space Storage Inc. EXR

NYSE · reit · Real Estate Investment Trusts · website · IPO 2004-08-12

Extra Space Storage Inc. statistics & valuation

Market cap$31.3B
P / E32.2×
P / S9.3×
P / B2.2×
Dividend yield4.39%
Net margin28.8%
Return on equity6.8%
Graham number -44.1%$83.56

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($83.56); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
36.90% 43.30% 34.70% 32.10% 35.50% 52.50% 44.70% 31.40% 26.20% 28.80% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
46.20% 59.20% 51.80% 48.50% 49.10% 61.90% 54.60% 45.70% 40.60% 41.80% 2016201720182019202020212022202320242025
Return on equity (%)
14.10% 17.60% 14.90% 14.40% 16.40% 21.90% 21.10% 5.20% 5.80% 6.80% 2016201720182019202020212022202320242025
Shares outstanding
125.9M 134.2M 133.2M 136.4M 131.4M 140.0M 141.7M 211.3M 212.0M 211.9M 2016201720182019202020212022202320242025
Net debt ($)
$548.6M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
5.20% 6.40% 5.30% 4.90% 5.10% 7.90% 7.10% 2.90% 3.00% 3.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.22× 2016201720182019202020212022202320242025
EPS ($)
$2.91 $3.76 $3.27 $3.24 $3.71 $6.19 $6.41 $4.74 $4.03 $4.59 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Extra Space Storage Inc. trades at about 32.5× earnings — near its 10-year norm (10-year range 22.2×–38.2×, median 30.5×).

22.2× 38.2×

Shaded band = 10-year range (22.2×–38.2×); dot = today's 32.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin41.8%40.6%45.7%54.6%61.9%49.1%48.5%51.8%59.2%46.2%
Net margin28.8%26.2%31.4%44.7%52.5%35.5%32.1%34.7%43.3%36.9%
Return on assets3.3%3.0%2.9%7.1%7.9%5.1%4.9%5.3%6.4%5.2%
Return on equity6.8%5.8%5.2%21.1%21.9%16.4%14.4%14.9%17.6%14.1%
Debt / equity————————0.22×—

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.