NATIONAL STORAGE AFFILIATES (NSA) Fundamental Analysis & Valuation

NYSE:NSA • US6378701063

Current stock price

40.98 USD
+0.51 (+1.26%)
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This NSA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. NSA Profitability Analysis

1.1 Basic Checks

  • NSA had positive earnings in the past year.
  • NSA had a positive operating cash flow in the past year.
  • In the past 5 years NSA has always been profitable.
  • Each year in the past 5 years NSA had a positive operating cash flow.
NSA Yearly Net Income VS EBIT VS OCF VS FCFNSA 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 -1B -1.5B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 1.05%, NSA is doing worse than 67.86% of the companies in the same industry.
  • NSA's Return On Equity of 5.63% is in line compared to the rest of the industry. NSA outperforms 53.57% of its industry peers.
  • NSA has a Return On Invested Capital of 4.44%. This is comparable to the rest of the industry: NSA outperforms 53.57% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for NSA is in line with the industry average of 5.10%.
Industry RankSector Rank
ROA 1.05%
ROE 5.63%
ROIC 4.44%
ROA(3y)1.69%
ROA(5y)1.64%
ROE(3y)7.92%
ROE(5y)6.89%
ROIC(3y)4.5%
ROIC(5y)4.09%
NSA Yearly ROA, ROE, ROICNSA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2 4 6 8

1.3 Margins

  • NSA has a worse Profit Margin (7.07%) than 64.29% of its industry peers.
  • NSA's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 37.01%, NSA is in line with its industry, outperforming 57.14% of the companies in the same industry.
  • NSA's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 37.01%
PM (TTM) 7.07%
GM N/A
OM growth 3Y0.81%
OM growth 5Y1.69%
PM growth 3Y-14.35%
PM growth 5Y-2.92%
GM growth 3YN/A
GM growth 5YN/A
NSA Yearly Profit, Operating, Gross MarginsNSA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30

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1

2. NSA Health Analysis

2.1 Basic Checks

  • NSA has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, NSA has more shares outstanding
  • The number of shares outstanding for NSA has been increased compared to 5 years ago.
  • The debt/assets ratio for NSA is higher compared to a year ago.
NSA Yearly Shares OutstandingNSA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
NSA Yearly Total Debt VS Total AssetsNSA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.2 Solvency

  • NSA has an Altman-Z score of 0.59. This is a bad value and indicates that NSA is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of NSA (0.59) is worse than 75.00% of its industry peers.
  • NSA has a debt to FCF ratio of 12.36. This is a negative value and a sign of low solvency as NSA would need 12.36 years to pay back of all of its debts.
  • NSA's Debt to FCF ratio of 12.36 is fine compared to the rest of the industry. NSA outperforms 67.86% of its industry peers.
  • A Debt/Equity ratio of 3.60 is on the high side and indicates that NSA has dependencies on debt financing.
  • NSA has a worse Debt to Equity ratio (3.60) than 67.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.6
Debt/FCF 12.36
Altman-Z 0.59
ROIC/WACC0.6
WACC7.37%
NSA Yearly LT Debt VS Equity VS FCFNSA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B 3B

2.3 Liquidity

  • NSA has a Current Ratio of 0.43. This is a bad value and indicates that NSA is not financially healthy enough and could expect problems in meeting its short term obligations.
  • NSA has a worse Current ratio (0.43) than 64.29% of its industry peers.
  • A Quick Ratio of 0.43 indicates that NSA may have some problems paying its short term obligations.
  • NSA has a Quick ratio of 0.43. This is in the lower half of the industry: NSA underperforms 64.29% of its industry peers.
Industry RankSector Rank
Current Ratio 0.43
Quick Ratio 0.43
NSA Yearly Current Assets VS Current LiabilitesNSA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M

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

3

3. NSA Growth Analysis

3.1 Past

  • The earnings per share for NSA have decreased strongly by -39.47% in the last year.
  • Measured over the past 5 years, NSA shows a small growth in Earnings Per Share. The EPS has been growing by 7.09% on average per year.
  • The Revenue has decreased by -2.26% in the past year.
  • The Revenue has been growing by 11.74% on average over the past years. This is quite good.
EPS 1Y (TTM)-39.47%
EPS 3Y-11.63%
EPS 5Y7.09%
EPS Q2Q%53.33%
Revenue 1Y (TTM)-2.26%
Revenue growth 3Y-2.07%
Revenue growth 5Y11.74%
Sales Q2Q%-1.62%

3.2 Future

  • NSA is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.40% yearly.
  • NSA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.40% yearly.
EPS Next Y-2.51%
EPS Next 2Y0.68%
EPS Next 3Y5.4%
EPS Next 5YN/A
Revenue Next Year-0.67%
Revenue Next 2Y0.84%
Revenue Next 3Y2.62%
Revenue Next 5Y4.4%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • 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.
NSA Yearly Revenue VS EstimatesNSA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M 800M
NSA Yearly EPS VS EstimatesNSA Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 0.5 1

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3

4. NSA Valuation Analysis

4.1 Price/Earnings Ratio

  • NSA is valuated quite expensively with a Price/Earnings ratio of 59.39.
  • NSA's Price/Earnings ratio is a bit more expensive when compared to the industry. NSA is more expensive than 60.71% of the companies in the same industry.
  • NSA's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.91.
  • With a Price/Forward Earnings ratio of 60.92, NSA can be considered very expensive at the moment.
  • NSA's Price/Forward Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 23.68. NSA is valued rather expensively when compared to this.
Industry RankSector Rank
PE 59.39
Fwd PE 60.92
NSA Price Earnings VS Forward Price EarningsNSA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NSA indicates a rather cheap valuation: NSA is cheaper than 89.29% of the companies listed in the same industry.
  • NSA's Price/Free Cash Flow ratio is rather cheap when compared to the industry. NSA is cheaper than 100.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.47
EV/EBITDA 13.9
NSA Per share dataNSA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)8.38
EPS Next 2Y0.68%
EPS Next 3Y5.4%

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

7

5. NSA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 6.15%, NSA is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.65, NSA pays a better dividend. On top of this NSA pays more dividend than 82.14% of the companies listed in the same industry.
  • NSA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 6.15%

5.2 History

  • On average, the dividend of NSA grows each year by 10.06%, which is quite nice.
  • NSA has been paying a dividend for at least 10 years, so it has a reliable track record.
  • NSA has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)10.06%
Div Incr Years10
Div Non Decr Years10
NSA Yearly Dividends per shareNSA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • NSA pays out 366.83% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of NSA is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP366.83%
EPS Next 2Y0.68%
EPS Next 3Y5.4%
NSA Yearly Income VS Free CF VS DividendNSA 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 -1B -1.5B
NSA Dividend Payout.NSA Dividend Payout, showing the Payout Ratio.NSA Dividend Payout.PayoutRetained Earnings

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NSA Fundamentals: All Metrics, Ratios and Statistics

NATIONAL STORAGE AFFILIATES

NYSE:NSA (4/9/2026, 7:50:19 PM)

After market: 40.98 0 (0%)

40.98

+0.51 (+1.26%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-25
Earnings (Next)05-04
Inst Owners103.04%
Inst Owner Change0%
Ins Owners7.98%
Ins Owner Change0%
Market Cap3.16B
Revenue(TTM)752.93M
Net Income(TTM)53.26M
Analysts67.06
Price Target36.42 (-11.13%)
Short Float %8.45%
Short Ratio2.75
Dividend
Industry RankSector Rank
Dividend Yield 6.15%
Yearly Dividend2.55
Dividend Growth(5Y)10.06%
DP366.83%
Div Incr Years10
Div Non Decr Years10
Ex-Date03-13
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)14.79%
Min EPS beat(2)-4.37%
Max EPS beat(2)33.95%
EPS beat(4)1
Avg EPS beat(4)-5.7%
Min EPS beat(4)-43.42%
Max EPS beat(4)33.95%
EPS beat(8)3
Avg EPS beat(8)-0.54%
EPS beat(12)5
Avg EPS beat(12)20.06%
EPS beat(16)5
Avg EPS beat(16)8.33%
Revenue beat(2)2
Avg Revenue beat(2)1.69%
Min Revenue beat(2)1.16%
Max Revenue beat(2)2.22%
Revenue beat(4)3
Avg Revenue beat(4)-0.35%
Min Revenue beat(4)-8.32%
Max Revenue beat(4)3.53%
Revenue beat(8)7
Avg Revenue beat(8)0.59%
Revenue beat(12)11
Avg Revenue beat(12)1.03%
Revenue beat(16)15
Avg Revenue beat(16)1.9%
PT rev (1m)9.75%
PT rev (3m)8.1%
EPS NQ rev (1m)2.94%
EPS NQ rev (3m)-32.1%
EPS NY rev (1m)0%
EPS NY rev (3m)3.74%
Revenue NQ rev (1m)-1.76%
Revenue NQ rev (3m)-0.57%
Revenue NY rev (1m)-1.07%
Revenue NY rev (3m)-0.73%
Valuation
Industry RankSector Rank
PE 59.39
Fwd PE 60.92
P/S 4.2
P/FCF 11.47
P/OCF 9.34
P/B 3.34
P/tB 3.95
EV/EBITDA 13.9
EPS(TTM)0.69
EY1.68%
EPS(NY)0.67
Fwd EY1.64%
FCF(TTM)3.57
FCFY8.72%
OCF(TTM)4.39
OCFY10.71%
SpS9.76
BVpS12.27
TBVpS10.37
PEG (NY)N/A
PEG (5Y)8.38
Graham Number13.8
Profitability
Industry RankSector Rank
ROA 1.05%
ROE 5.63%
ROCE 5.61%
ROIC 4.44%
ROICexc 4.46%
ROICexgc 4.6%
OM 37.01%
PM (TTM) 7.07%
GM N/A
FCFM 36.59%
ROA(3y)1.69%
ROA(5y)1.64%
ROE(3y)7.92%
ROE(5y)6.89%
ROIC(3y)4.5%
ROIC(5y)4.09%
ROICexc(3y)4.53%
ROICexc(5y)4.12%
ROICexgc(3y)4.66%
ROICexgc(5y)4.22%
ROCE(3y)5.69%
ROCE(5y)5.18%
ROICexgc growth 3Y5.39%
ROICexgc growth 5Y5.96%
ROICexc growth 3Y4.92%
ROICexc growth 5Y5.59%
OM growth 3Y0.81%
OM growth 5Y1.69%
PM growth 3Y-14.35%
PM growth 5Y-2.92%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.15
Health
Industry RankSector Rank
Debt/Equity 3.6
Debt/FCF 12.36
Debt/EBITDA 7.28
Cap/Depr 33.29%
Cap/Sales 8.37%
Interest Coverage 1.78
Cash Conversion 72.34%
Profit Quality 517.24%
Current Ratio 0.43
Quick Ratio 0.43
Altman-Z 0.59
F-Score4
WACC7.37%
ROIC/WACC0.6
Cap/Depr(3y)46.99%
Cap/Depr(5y)326.84%
Cap/Sales(3y)11.82%
Cap/Sales(5y)88.77%
Profit Quality(3y)344.63%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-39.47%
EPS 3Y-11.63%
EPS 5Y7.09%
EPS Q2Q%53.33%
EPS Next Y-2.51%
EPS Next 2Y0.68%
EPS Next 3Y5.4%
EPS Next 5YN/A
Revenue 1Y (TTM)-2.26%
Revenue growth 3Y-2.07%
Revenue growth 5Y11.74%
Sales Q2Q%-1.62%
Revenue Next Year-0.67%
Revenue Next 2Y0.84%
Revenue Next 3Y2.62%
Revenue Next 5Y4.4%
EBIT growth 1Y-6.23%
EBIT growth 3Y-1.27%
EBIT growth 5Y13.63%
EBIT Next Year56.78%
EBIT Next 3Y19.11%
EBIT Next 5YN/A
FCF growth 1Y12.36%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-6.77%
OCF growth 3Y-8.64%
OCF growth 5Y8.94%

NATIONAL STORAGE AFFILIATES / NSA Fundamental Analysis FAQ

What is the fundamental rating for NSA stock?

ChartMill assigns a fundamental rating of 3 / 10 to NSA.


What is the valuation status for NSA stock?

ChartMill assigns a valuation rating of 3 / 10 to NATIONAL STORAGE AFFILIATES (NSA). This can be considered as Overvalued.


How profitable is NATIONAL STORAGE AFFILIATES (NSA) stock?

NATIONAL STORAGE AFFILIATES (NSA) has a profitability rating of 4 / 10.


What is the expected EPS growth for NATIONAL STORAGE AFFILIATES (NSA) stock?

The Earnings per Share (EPS) of NATIONAL STORAGE AFFILIATES (NSA) is expected to decline by -2.51% in the next year.


Can you provide the dividend sustainability for NSA stock?

The dividend rating of NATIONAL STORAGE AFFILIATES (NSA) is 7 / 10 and the dividend payout ratio is 366.83%.