NATIONAL STORAGE AFFILIATES (NSA) Stock Fundamental Analysis
NYSE:NSA • US6378701063
35.02 USD
+0.55 (+1.6%)
At close: Feb 27, 2026
35.02 USD
0 (0%)
After Hours: 2/27/2026, 8:23:14 PM
Overall NSA gets a fundamental rating of 3 out of 10. We evaluated NSA against 28 industry peers in the Specialized REITs industry. While NSA is still in line with the averages on profitability rating, there are concerns on its financial health. NSA is valued expensive and it does not seem to be growing. Finally NSA also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
- NSA had positive earnings in the past year.
- In the past year NSA had a positive cash flow from operations.
- Of the past 5 years NSA 4 years were profitable.
- NSA had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
- NSA has a Return On Assets of 0.92%. This is in the lower half of the industry: NSA underperforms 67.86% of its industry peers.
- The Return On Equity of NSA (4.84%) is comparable to the rest of the industry.
- With a Return On Invested Capital value of 4.42%, NSA perfoms like the industry average, outperforming 53.57% of the companies in the same industry.
- NSA had an Average Return On Invested Capital over the past 3 years of 4.30%. This is in line with the industry average of 4.81%.
- The last Return On Invested Capital (4.42%) for NSA is above the 3 year average (4.30%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.92% | ||
| ROE | 4.84% | ||
| ROIC | 4.42% |
ROA(3y)1.84%
ROA(5y)1.63%
ROE(3y)7.87%
ROE(5y)6.49%
ROIC(3y)4.3%
ROIC(5y)3.88%
1.3 Margins
- NSA has a Profit Margin of 6.23%. This is in the lower half of the industry: NSA underperforms 64.29% of its industry peers.
- In the last couple of years the Profit Margin of NSA has declined.
- With a Operating Margin value of 37.10%, NSA perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
- In the last couple of years the Operating Margin of NSA has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.1% | ||
| PM (TTM) | 6.23% | ||
| GM | N/A |
OM growth 3Y1.16%
OM growth 5Y3.36%
PM growth 3Y-9.08%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NSA is destroying value.
- There is no outstanding debt for NSA. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
2.2 Solvency
- NSA has an Altman-Z score of 0.52. This is a bad value and indicates that NSA is not financially healthy and even has some risk of bankruptcy.
- Looking at the Altman-Z score, with a value of 0.52, NSA is doing worse than 64.29% of the companies in the same industry.
- The Debt to FCF ratio of NSA is 13.50, which is on the high side as it means it would take NSA, 13.50 years of fcf income to pay off all of its debts.
- NSA has a Debt to FCF ratio of 13.50. This is comparable to the rest of the industry: NSA outperforms 57.14% of its industry peers.
- NSA has a Debt/Equity ratio of 3.50. This is a high value indicating a heavy dependency on external financing.
- With a Debt to Equity ratio value of 3.50, NSA is not doing good in the industry: 67.86% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.5 | ||
| Debt/FCF | 13.5 | ||
| Altman-Z | 0.52 |
ROIC/WACC0.63
WACC7.02%
2.3 Liquidity
- A Current Ratio of 0.40 indicates that NSA may have some problems paying its short term obligations.
- NSA's Current ratio of 0.40 is on the low side compared to the rest of the industry. NSA is outperformed by 64.29% of its industry peers.
- A Quick Ratio of 0.40 indicates that NSA may have some problems paying its short term obligations.
- NSA has a worse Quick ratio (0.40) than 64.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 |
3. Growth
3.1 Past
- The earnings per share for NSA have decreased by -9.65% in the last year.
- Measured over the past years, NSA shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.02% on average per year.
EPS 1Y (TTM)-9.65%
EPS 3Y0.99%
EPS 5Y16.02%
EPS Q2Q%280%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-1.62%
3.2 Future
- Based on estimates for the next years, NSA will show a very negative growth in Earnings Per Share. The EPS will decrease by -17.60% on average per year.
- The Revenue is expected to grow by 4.40% on average over the next years.
EPS Next Y-34.69%
EPS Next 2Y-17.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year0.41%
Revenue Next 2Y1.91%
Revenue Next 3Y3.03%
Revenue Next 5Y4.4%
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 decreasing.
4. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 34.00 indicates a quite expensive valuation of NSA.
- The rest of the industry has a similar Price/Earnings ratio as NSA.
- NSA's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.10.
- Based on the Price/Forward Earnings ratio of 52.06, the valuation of NSA can be described as expensive.
- NSA's Price/Forward Earnings is on the same level as the industry average.
- NSA is valuated expensively when we compare the Price/Forward Earnings ratio to 28.06, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 34 | ||
| Fwd PE | 52.06 |
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 100.00% of the companies listed in the same industry.
- Based on the Price/Free Cash Flow ratio, NSA is valued cheaper than 100.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.69 | ||
| EV/EBITDA | 12.8 |
4.3 Compensation for Growth
- NSA's earnings are expected to decrease with -17.60% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)2.12
EPS Next 2Y-17.6%
EPS Next 3YN/A
5. Dividend
5.1 Amount
- NSA has a Yearly Dividend Yield of 6.61%, which is a nice return.
- Compared to an average industry Dividend Yield of 5.37, NSA pays a better dividend. On top of this NSA pays more dividend than 92.86% 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 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.61% |
5.2 History
- The dividend of NSA is nicely growing with an annual growth rate of 10.15%!
- NSA has been paying a dividend for at least 10 years, so it has a reliable track record.
- As NSA did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)10.15%
Div Incr Years9
Div Non Decr Years9
5.3 Sustainability
- NSA pays out 413.84% of its income as dividend. This is not a sustainable payout ratio.
- NSA's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP413.84%
EPS Next 2Y-17.6%
EPS Next 3YN/A
35.02
+0.55 (+1.6%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-25 2026-02-25/amc
Earnings (Next)05-04 2026-05-04/amc
Inst Owners100.26%
Inst Owner Change5.33%
Ins Owners8%
Ins Owner Change0%
Market Cap2.70B
Revenue(TTM)N/A
Net Income(TTM)47.11M
Analysts53.04
Price Target33.19 (-5.23%)
Short Float %9.75%
Short Ratio4.9
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.61% |
Yearly Dividend2.42
Dividend Growth(5Y)10.15%
DP413.84%
Div Incr Years9
Div Non Decr Years9
Ex-Date03-13 2026-03-13 (0.57)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.67%
Min EPS beat(2)-8.98%
Max EPS beat(2)-4.37%
EPS beat(4)0
Avg EPS beat(4)-17.89%
Min EPS beat(4)-43.42%
Max EPS beat(4)-4.37%
EPS beat(8)3
Avg EPS beat(8)26.9%
EPS beat(12)4
Avg EPS beat(12)17.2%
EPS beat(16)4
Avg EPS beat(16)4.38%
Revenue beat(2)2
Avg Revenue beat(2)2.87%
Min Revenue beat(2)2.22%
Max Revenue beat(2)3.53%
Revenue beat(4)3
Avg Revenue beat(4)-0.3%
Min Revenue beat(4)-8.32%
Max Revenue beat(4)3.53%
Revenue beat(8)7
Avg Revenue beat(8)0.79%
Revenue beat(12)11
Avg Revenue beat(12)1.36%
Revenue beat(16)15
Avg Revenue beat(16)2.19%
PT rev (1m)-1.32%
PT rev (3m)-3.67%
EPS NQ rev (1m)-6.59%
EPS NQ rev (3m)-6.59%
EPS NY rev (1m)-3.28%
EPS NY rev (3m)2.53%
Revenue NQ rev (1m)0.17%
Revenue NQ rev (3m)1.78%
Revenue NY rev (1m)0.23%
Revenue NY rev (3m)0.89%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 34 | ||
| Fwd PE | 52.06 | ||
| P/S | 3.56 | ||
| P/FCF | 10.69 | ||
| P/OCF | 7.79 | ||
| P/B | 2.77 | ||
| P/tB | 3.27 | ||
| EV/EBITDA | 12.8 |
EPS(TTM)1.03
EY2.94%
EPS(NY)0.67
Fwd EY1.92%
FCF(TTM)3.28
FCFY9.36%
OCF(TTM)4.49
OCFY12.83%
SpS9.82
BVpS12.64
TBVpS10.71
PEG (NY)N/A
PEG (5Y)2.12
Graham Number17.12
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.92% | ||
| ROE | 4.84% | ||
| ROCE | 5.6% | ||
| ROIC | 4.42% | ||
| ROICexc | 4.45% | ||
| ROICexgc | 4.59% | ||
| OM | 37.1% | ||
| PM (TTM) | 6.23% | ||
| GM | N/A | ||
| FCFM | 33.36% |
ROA(3y)1.84%
ROA(5y)1.63%
ROE(3y)7.87%
ROE(5y)6.49%
ROIC(3y)4.3%
ROIC(5y)3.88%
ROICexc(3y)4.34%
ROICexc(5y)3.91%
ROICexgc(3y)4.44%
ROICexgc(5y)3.99%
ROCE(3y)5.44%
ROCE(5y)4.91%
ROICexgc growth 3Y13.51%
ROICexgc growth 5Y6.59%
ROICexc growth 3Y12.74%
ROICexc growth 5Y6.15%
OM growth 3Y1.16%
OM growth 5Y3.36%
PM growth 3Y-9.08%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.5 | ||
| Debt/FCF | 13.5 | ||
| Debt/EBITDA | 7.22 | ||
| Cap/Depr | 49.09% | ||
| Cap/Sales | 12.39% | ||
| Interest Coverage | 1.8 | ||
| Cash Conversion | 73.39% | ||
| Profit Quality | 535.32% | ||
| Current Ratio | 0.4 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 0.52 |
F-Score3
WACC7.02%
ROIC/WACC0.63
Cap/Depr(3y)113.11%
Cap/Depr(5y)407.79%
Cap/Sales(3y)31.49%
Cap/Sales(5y)110.85%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-9.65%
EPS 3Y0.99%
EPS 5Y16.02%
EPS Q2Q%280%
EPS Next Y-34.69%
EPS Next 2Y-17.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-1.62%
Revenue Next Year0.41%
Revenue Next 2Y1.91%
Revenue Next 3Y3.03%
Revenue Next 5Y4.4%
EBIT growth 1Y-9.67%
EBIT growth 3Y10.84%
EBIT growth 5Y18.56%
EBIT Next Year43.46%
EBIT Next 3Y14.23%
EBIT Next 5Y11.81%
FCF growth 1Y-31.1%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-21.67%
OCF growth 3Y3.09%
OCF growth 5Y13.05%
NATIONAL STORAGE AFFILIATES / NSA 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.
What is the profitability of NSA stock?
NATIONAL STORAGE AFFILIATES (NSA) has a profitability rating of 4 / 10.
What are the PE and PB ratios of NATIONAL STORAGE AFFILIATES (NSA) stock?
The Price/Earnings (PE) ratio for NATIONAL STORAGE AFFILIATES (NSA) is 34 and the Price/Book (PB) ratio is 2.77.
Is the dividend of NATIONAL STORAGE AFFILIATES sustainable?
The dividend rating of NATIONAL STORAGE AFFILIATES (NSA) is 7 / 10 and the dividend payout ratio is 413.84%.