EXTRA SPACE STORAGE INC (EXR) Fundamental Analysis & Valuation

NYSE:EXR • US30225T1025

141.15 USD
-5.53 (-3.77%)
Last: Mar 11, 2026, 03:39 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This EXR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Overall EXR gets a fundamental rating of 4 out of 10. We evaluated EXR against 28 industry peers in the Specialized REITs industry. There are concerns on the financial health of EXR while its profitability can be described as average. EXR is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

6

1. EXR Profitability Analysis

1.1 Basic Checks

  • EXR had positive earnings in the past year.
  • EXR had a positive operating cash flow in the past year.
  • EXR had positive earnings in each of the past 5 years.
  • Each year in the past 5 years EXR had a positive operating cash flow.
EXR Yearly Net Income VS EBIT VS OCF VS FCFEXR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B 1.5B

1.2 Ratios

  • With a Return On Assets value of 3.32%, EXR perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
  • EXR has a Return On Equity of 7.24%. This is in the better half of the industry: EXR outperforms 64.29% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 4.18%, EXR is in line with its industry, outperforming 50.00% of the companies in the same industry.
  • EXR had an Average Return On Invested Capital over the past 3 years of 3.93%. This is in line with the industry average of 5.05%.
  • The last Return On Invested Capital (4.18%) for EXR is above the 3 year average (3.93%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.32%
ROE 7.24%
ROIC 4.18%
ROA(3y)3.07%
ROA(5y)4.83%
ROE(3y)6.31%
ROE(5y)14.36%
ROIC(3y)3.93%
ROIC(5y)5.06%
EXR Yearly ROA, ROE, ROICEXR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

1.3 Margins

  • EXR has a better Profit Margin (28.79%) than 64.29% of its industry peers.
  • EXR's Profit Margin has declined in the last couple of years.
  • The Operating Margin of EXR (44.09%) is better than 64.29% of its industry peers.
  • In the last couple of years the Operating Margin of EXR has declined.
  • Looking at the Gross Margin, with a value of 70.78%, EXR is in line with its industry, outperforming 50.00% of the companies in the same industry.
  • In the last couple of years the Gross Margin of EXR has remained more or less at the same level.
Industry RankSector Rank
OM 44.09%
PM (TTM) 28.79%
GM 70.78%
OM growth 3Y-6.5%
OM growth 5Y-1.6%
PM growth 3Y-13.62%
PM growth 5Y-4.09%
GM growth 3Y-1.86%
GM growth 5Y-0.3%
EXR Yearly Profit, Operating, Gross MarginsEXR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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2

2. EXR Health Analysis

2.1 Basic Checks

  • EXR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • EXR has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for EXR has been increased compared to 5 years ago.
  • The debt/assets ratio for EXR is higher compared to a year ago.
EXR Yearly Shares OutstandingEXR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
EXR Yearly Total Debt VS Total AssetsEXR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B 25B

2.2 Solvency

  • EXR has an Altman-Z score of 1.36. This is a bad value and indicates that EXR is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.36, EXR is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
  • The Debt to FCF ratio of EXR is 17.41, which is on the high side as it means it would take EXR, 17.41 years of fcf income to pay off all of its debts.
  • EXR has a Debt to FCF ratio of 17.41. This is comparable to the rest of the industry: EXR outperforms 50.00% of its industry peers.
  • EXR has a Debt/Equity ratio of 0.98. This is a neutral value indicating EXR is somewhat dependend on debt financing.
  • EXR has a better Debt to Equity ratio (0.98) than 60.71% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.98
Debt/FCF 17.41
Altman-Z 1.36
ROIC/WACC0.56
WACC7.52%
EXR Yearly LT Debt VS Equity VS FCFEXR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B

2.3 Liquidity

  • EXR has a Current Ratio of 0.34. This is a bad value and indicates that EXR is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of EXR (0.34) is worse than 71.43% of its industry peers.
  • A Quick Ratio of 0.34 indicates that EXR may have some problems paying its short term obligations.
  • EXR has a Quick ratio of 0.34. This is in the lower half of the industry: EXR underperforms 71.43% of its industry peers.
Industry RankSector Rank
Current Ratio 0.34
Quick Ratio 0.34
EXR Yearly Current Assets VS Current LiabilitesEXR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. EXR Growth Analysis

3.1 Past

  • EXR shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.75%.
  • The Earnings Per Share has been growing slightly by 4.45% on average over the past years.
  • Looking at the last year, EXR shows a small growth in Revenue. The Revenue has grown by 3.70% in the last year.
  • EXR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 20.02% yearly.
EPS 1Y (TTM)5.75%
EPS 3Y-10.05%
EPS 5Y4.45%
EPS Q2Q%9.68%
Revenue 1Y (TTM)3.7%
Revenue growth 3Y20.63%
Revenue growth 5Y20.02%
Sales Q2Q%3.82%

3.2 Future

  • The Earnings Per Share is expected to grow by 5.69% on average over the next years.
  • Based on estimates for the next years, EXR will show a small growth in Revenue. The Revenue will grow by 3.58% on average per year.
EPS Next Y5.93%
EPS Next 2Y5.13%
EPS Next 3Y6.4%
EPS Next 5Y5.69%
Revenue Next Year6.68%
Revenue Next 2Y5.57%
Revenue Next 3Y3.21%
Revenue Next 5Y3.58%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
EXR Yearly Revenue VS EstimatesEXR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B
EXR Yearly EPS VS EstimatesEXR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6

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3

4. EXR Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 30.68, EXR can be considered very expensive at the moment.
  • Based on the Price/Earnings ratio, EXR is valued a bit cheaper than 64.29% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of EXR to the average of the S&P500 Index (26.25), we can say EXR is valued inline with the index average.
  • EXR is valuated quite expensively with a Price/Forward Earnings ratio of 28.97.
  • EXR's Price/Forward Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.39, EXR is valued at the same level.
Industry RankSector Rank
PE 30.68
Fwd PE 28.97
EXR Price Earnings VS Forward Price EarningsEXR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as EXR.
  • EXR's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 39.23
EV/EBITDA 19.99
EXR Per share dataEXR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • EXR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)5.18
PEG (5Y)6.89
EPS Next 2Y5.13%
EPS Next 3Y6.4%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. EXR Dividend Analysis

5.1 Amount

  • EXR has a Yearly Dividend Yield of 4.39%, which is a nice return.
  • Compared to an average industry Dividend Yield of 5.33, EXR has a dividend in line with its industry peers.
  • EXR's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 4.39%

5.2 History

  • On average, the dividend of EXR grows each year by 12.62%, which is quite nice.
  • EXR has paid a dividend for at least 10 years, which is a reliable track record.
  • EXR has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)12.62%
Div Incr Years0
Div Non Decr Years15
EXR Yearly Dividends per shareEXR Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • 141.35% of the earnings are spent on dividend by EXR. This is not a sustainable payout ratio.
  • The dividend of EXR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP141.35%
EPS Next 2Y5.13%
EPS Next 3Y6.4%
EXR Yearly Income VS Free CF VS DividendEXR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M 1B
EXR Dividend Payout.EXR Dividend Payout, showing the Payout Ratio.EXR Dividend Payout.PayoutRetained Earnings

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EXR Fundamentals: All Metrics, Ratios and Statistics

EXTRA SPACE STORAGE INC

NYSE:EXR (3/11/2026, 3:39:08 PM)

141.15

-5.53 (-3.77%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-19
Earnings (Next)04-27
Inst Owners103.22%
Inst Owner Change3.67%
Ins Owners0.91%
Ins Owner Change3.39%
Market Cap29.80B
Revenue(TTM)3.38B
Net Income(TTM)972.26M
Analysts67.5
Price Target153.66 (8.86%)
Short Float %2.39%
Short Ratio3.62
Dividend
Industry RankSector Rank
Dividend Yield 4.39%
Yearly Dividend6.5
Dividend Growth(5Y)12.62%
DP141.35%
Div Incr Years0
Div Non Decr Years15
Ex-Date03-16
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-10.28%
Min EPS beat(2)-35.64%
Max EPS beat(2)15.09%
EPS beat(4)3
Avg EPS beat(4)1.03%
Min EPS beat(4)-35.64%
Max EPS beat(4)23.64%
EPS beat(8)6
Avg EPS beat(8)1.95%
EPS beat(12)8
Avg EPS beat(12)2.64%
EPS beat(16)12
Avg EPS beat(16)3.64%
Revenue beat(2)0
Avg Revenue beat(2)-6.67%
Min Revenue beat(2)-6.72%
Max Revenue beat(2)-6.61%
Revenue beat(4)0
Avg Revenue beat(4)-7.07%
Min Revenue beat(4)-8.65%
Max Revenue beat(4)-6.31%
Revenue beat(8)0
Avg Revenue beat(8)-6.72%
Revenue beat(12)1
Avg Revenue beat(12)-3.69%
Revenue beat(16)5
Avg Revenue beat(16)1.75%
PT rev (1m)-0.66%
PT rev (3m)-2.08%
EPS NQ rev (1m)-0.86%
EPS NQ rev (3m)-1.88%
EPS NY rev (1m)-0.12%
EPS NY rev (3m)-1.9%
Revenue NQ rev (1m)-0.7%
Revenue NQ rev (3m)0.85%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)0.69%
Valuation
Industry RankSector Rank
PE 30.68
Fwd PE 28.97
P/S 8.82
P/FCF 39.23
P/OCF 16.11
P/B 2.22
P/tB 2.25
EV/EBITDA 19.99
EPS(TTM)4.6
EY3.26%
EPS(NY)4.87
Fwd EY3.45%
FCF(TTM)3.6
FCFY2.55%
OCF(TTM)8.76
OCFY6.21%
SpS16
BVpS63.62
TBVpS62.76
PEG (NY)5.18
PEG (5Y)6.89
Graham Number81.15
Profitability
Industry RankSector Rank
ROA 3.32%
ROE 7.24%
ROCE 5.29%
ROIC 4.18%
ROICexc 4.2%
ROICexgc 4.23%
OM 44.09%
PM (TTM) 28.79%
GM 70.78%
FCFM 22.49%
ROA(3y)3.07%
ROA(5y)4.83%
ROE(3y)6.31%
ROE(5y)14.36%
ROIC(3y)3.93%
ROIC(5y)5.06%
ROICexc(3y)3.95%
ROICexc(5y)5.09%
ROICexgc(3y)3.99%
ROICexgc(5y)5.18%
ROCE(3y)4.98%
ROCE(5y)6.4%
ROICexgc growth 3Y-16.44%
ROICexgc growth 5Y-6.25%
ROICexc growth 3Y-15.75%
ROICexc growth 5Y-6.11%
OM growth 3Y-6.5%
OM growth 5Y-1.6%
PM growth 3Y-13.62%
PM growth 5Y-4.09%
GM growth 3Y-1.86%
GM growth 5Y-0.3%
F-Score6
Asset Turnover0.12
Health
Industry RankSector Rank
Debt/Equity 0.98
Debt/FCF 17.41
Debt/EBITDA 6
Cap/Depr 152.47%
Cap/Sales 32.28%
Interest Coverage 2.64
Cash Conversion 83.94%
Profit Quality 78.14%
Current Ratio 0.34
Quick Ratio 0.34
Altman-Z 1.36
F-Score6
WACC7.52%
ROIC/WACC0.56
Cap/Depr(3y)113.64%
Cap/Depr(5y)270.58%
Cap/Sales(3y)24.63%
Cap/Sales(5y)45.48%
Profit Quality(3y)108.68%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)5.75%
EPS 3Y-10.05%
EPS 5Y4.45%
EPS Q2Q%9.68%
EPS Next Y5.93%
EPS Next 2Y5.13%
EPS Next 3Y6.4%
EPS Next 5Y5.69%
Revenue 1Y (TTM)3.7%
Revenue growth 3Y20.63%
Revenue growth 5Y20.02%
Sales Q2Q%3.82%
Revenue Next Year6.68%
Revenue Next 2Y5.57%
Revenue Next 3Y3.21%
Revenue Next 5Y3.58%
EBIT growth 1Y6.28%
EBIT growth 3Y12.79%
EBIT growth 5Y18.1%
EBIT Next Year55.66%
EBIT Next 3Y17.79%
EBIT Next 5Y13.42%
FCF growth 1Y-30.15%
FCF growth 3YN/A
FCF growth 5Y15.06%
OCF growth 1Y-1.97%
OCF growth 3Y14.33%
OCF growth 5Y19.13%

EXTRA SPACE STORAGE INC / EXR FAQ

What is the fundamental rating for EXR stock?

ChartMill assigns a fundamental rating of 4 / 10 to EXR.


What is the valuation status of EXTRA SPACE STORAGE INC (EXR) stock?

ChartMill assigns a valuation rating of 2 / 10 to EXTRA SPACE STORAGE INC (EXR). This can be considered as Overvalued.


What is the profitability of EXR stock?

EXTRA SPACE STORAGE INC (EXR) has a profitability rating of 6 / 10.


What is the earnings growth outlook for EXTRA SPACE STORAGE INC?

The Earnings per Share (EPS) of EXTRA SPACE STORAGE INC (EXR) is expected to grow by 5.93% in the next year.


Is the dividend of EXTRA SPACE STORAGE INC sustainable?

The dividend rating of EXTRA SPACE STORAGE INC (EXR) is 6 / 10 and the dividend payout ratio is 141.35%.