NATIONAL STORAGE AFFILIATES (NSA) Fundamental Analysis & Valuation

NYSE:NSA • US6378701063

Current stock price

40.29 USD
+1.26 (+3.23%)
Last:

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

  • In the past year NSA was profitable.
  • NSA had a positive operating cash flow in the past year.
  • In the past 5 years NSA has always been profitable.
  • NSA had a positive operating cash flow in each of the past 5 years.
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

  • NSA has a Return On Assets of 1.05%. This is in the lower half of the industry: NSA underperforms 67.86% of its industry peers.
  • 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.
  • The Return On Invested Capital of NSA (4.44%) is comparable to the rest of the industry.
  • NSA had an Average Return On Invested Capital over the past 3 years of 4.50%. This 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 Profit Margin of 7.07%. This is in the lower half of the industry: NSA underperforms 64.29% of its industry peers.
  • NSA's Profit Margin has declined in the last couple of years.
  • NSA's Operating Margin of 37.01% is in line compared to the rest of the industry. NSA outperforms 57.14% of its industry peers.
  • In the last couple of years the Operating Margin of NSA has grown nicely.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

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
  • NSA has more shares outstanding than it did 5 years ago.
  • NSA has a worse debt/assets ratio than last year.
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 0.57. This is a bad value and indicates that NSA is not financially healthy and even has some risk of bankruptcy.
  • With a Altman-Z score value of 0.57, NSA is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
  • The Debt to FCF ratio of NSA is 12.36, which is on the high side as it means it would take NSA, 12.36 years of fcf income to pay off all of its debts.
  • NSA has a better Debt to FCF ratio (12.36) than 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 0.57
ROIC/WACC0.59
WACC7.49%
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

  • A Current Ratio of 0.43 indicates that NSA may have some problems paying 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's Quick ratio of 0.43 is on the low side compared to the rest of the industry. NSA is outperformed by 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.
  • Looking at the last year, NSA shows a decrease in Revenue. The Revenue has decreased by -2.26% in the last year.
  • Measured over the past years, NSA shows a quite strong growth in Revenue. The Revenue has been growing by 11.74% on average per year.
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

  • Based on estimates for the next years, NSA will show a small growth in Earnings Per Share. The EPS will grow by 5.40% on average per year.
  • Based on estimates for the next years, NSA will show a small growth in Revenue. The Revenue will grow by 4.40% on average per year.
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

  • Based on the Price/Earnings ratio of 58.39, the valuation of NSA can be described as expensive.
  • Based on the Price/Earnings ratio, NSA is valued a bit more expensive than 60.71% of the companies in the same industry.
  • NSA is valuated expensively when we compare the Price/Earnings ratio to 26.21, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 59.90, the valuation of NSA can be described as expensive.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of NSA is on the same level as its industry peers.
  • When comparing the Price/Forward Earnings ratio of NSA to the average of the S&P500 Index (23.10), we can say NSA is valued expensively.
Industry RankSector Rank
PE 58.39
Fwd PE 59.9
NSA Price Earnings VS Forward Price EarningsNSA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • 89.29% of the companies in the same industry are more expensive than NSA, based on the Enterprise Value to EBITDA ratio.
  • 100.00% of the companies in the same industry are more expensive than NSA, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 11.28
EV/EBITDA 13.66
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)8.24
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.
  • Compared to an average S&P500 Dividend Yield of 1.89, NSA pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.15%

5.2 History

  • The dividend of NSA is nicely growing with an annual growth rate of 10.06%!
  • NSA has been paying a dividend for at least 10 years, so it has a reliable track record.
  • NSA has not decreased their dividend for at least 10 years, which is a reliable track record.
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.
  • NSA's earnings are growing slower than its dividend. 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 (4/8/2026, 3:00:06 PM)

40.29

+1.26 (+3.23%)

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 Cap3.11B
Revenue(TTM)752.93M
Net Income(TTM)53.26M
Analysts67.06
Price Target36.42 (-9.61%)
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 58.39
Fwd PE 59.9
P/S 4.13
P/FCF 11.28
P/OCF 9.18
P/B 3.28
P/tB 3.89
EV/EBITDA 13.66
EPS(TTM)0.69
EY1.71%
EPS(NY)0.67
Fwd EY1.67%
FCF(TTM)3.57
FCFY8.87%
OCF(TTM)4.39
OCFY10.9%
SpS9.76
BVpS12.27
TBVpS10.37
PEG (NY)N/A
PEG (5Y)8.24
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 0.57
F-Score4
WACC7.49%
ROIC/WACC0.59
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%.