📊 EXR Key Takeaways
Is Extra Space Storage Inc. (EXR) a Good Investment?
Extra Space Storage demonstrates strong operational performance with robust profitability metrics (41.8% operating margin, 28.8% net margin) and healthy free cash flow generation ($1.3B annually with 38.1% FCF margin). The company maintains conservative leverage (0.04x debt/equity ratio) and solid interest coverage (10.6x), providing financial flexibility and stability in the REIT sector.
Extra Space Storage shows strong underlying fundamentals with high operating and free cash flow generation, solid operating margins, and good interest coverage. The main caution is that reported revenue growth appears acquisition-driven rather than purely organic, so the quality and durability of post-merger earnings and cash flow should be monitored closely.
Why Buy Extra Space Storage Inc. Stock? EXR Key Strengths
- Exceptional operating efficiency with 41.8% operating margin and strong net profitability at 28.8%
- Robust free cash flow generation of $1.3B with healthy 38.1% FCF margin supports dividend sustainability
- Conservative capital structure with 0.04x debt/equity ratio and 10.6x interest coverage indicates low financial risk
- Substantial operating cash flow of $1.9B demonstrates consistent cash generation capability
- Large asset base of $29.3B with reasonable leverage profile for REITs
- Strong operating profitability with a 41.8% operating margin and 28.8% net margin
- Robust cash generation with $1.85B in operating cash flow and $1.29B in free cash flow
- Manageable financial burden indicated by 10.6x interest coverage and a large equity base relative to assets
EXR Stock Risks: Extra Space Storage Inc. Investment Risks
- Extraordinary revenue growth of +2508.6% YoY appears anomalous and warrants investigation for accounting changes or acquisition activity
- Modest ROE of 7.3% and ROA of 3.3% indicate capital efficiency challenges typical of capital-intensive real estate operations
- Low cash position of $138.9M relative to $29.3B total assets limits financial flexibility for opportunistic investments
- Real estate sector sensitivity to economic cycles, occupancy rates, and rental market conditions not fully reflected in current metrics
- Significant long-term debt of $560.6M requires ongoing service and refinancing monitoring
- Revenue growth of +2508.6% suggests a major acquisition or reporting step-change, which may reduce comparability and mask weaker organic trends
- Cash on hand is relatively modest at $138.92M compared with the size of the balance sheet
- Returns on assets and equity are only moderate for a REIT, which may signal limited incremental profitability from the larger asset base
Key Metrics to Watch
- Same-store NOI growth and occupancy rates for core portfolio
- Operating cash flow trend sustainability and FCF conversion quality
- Debt levels and leverage ratios as interest rate environment evolves
- Capital allocation strategy between dividends, debt reduction, and property acquisitions
- Same-store or organic revenue growth versus acquisition-driven growth
- Free cash flow after capital expenditures and interest coverage trend
Extra Space Storage Inc. (EXR) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The 38.1% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. The current ratio below 1.0x warrants monitoring of short-term liquidity.
EXR Profit Margin, ROE & Profitability Analysis
EXR vs Real Estate Sector: How Extra Space Storage Inc. Compares
How Extra Space Storage Inc. compares to Real Estate sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Extra Space Storage Inc. Stock Overvalued? EXR Valuation Analysis 2026
Based on fundamental analysis, Extra Space Storage Inc. appears fundamentally strong relative to the Real Estate sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Extra Space Storage Inc. Balance Sheet: EXR Debt, Cash & Liquidity
EXR Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Extra Space Storage Inc.'s revenue has grown significantly by 95% over the 5-year period, indicating strong business expansion. The most recent EPS of $4.74 reflects profitable operations.
EXR Revenue Growth, EPS Growth & YoY Performance
EXR Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $29.9M | $166.0M | $0.78 |
| Q2 2025 | $29.9M | $185.9M | $0.88 |
| Q1 2025 | $30.1M | $213.1M | $1.01 |
| Q3 2024 | $28.0M | $188.4M | $0.91 |
| Q2 2024 | $22.2M | $185.9M | $0.88 |
| Q1 2024 | $21.4M | $196.3M | $1.01 |
| Q3 2023 | $22.2M | $188.4M | $0.96 |
| Q2 2023 | $20.5M | $202.4M | $1.50 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Extra Space Storage Inc. Dividends, Buybacks & Capital Allocation
EXR SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Extra Space Storage Inc. (CIK: 0001289490)
📋 Recent SEC Filings
❓ Frequently Asked Questions about EXR
What is the AI rating for EXR?
Extra Space Storage Inc. (EXR) has a Combined AI Rating of BUY from Claude (BUY) and ChatGPT (BUY) with 76% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are EXR's key strengths?
Claude: Exceptional operating efficiency with 41.8% operating margin and strong net profitability at 28.8%. Robust free cash flow generation of $1.3B with healthy 38.1% FCF margin supports dividend sustainability. ChatGPT: Strong operating profitability with a 41.8% operating margin and 28.8% net margin. Robust cash generation with $1.85B in operating cash flow and $1.29B in free cash flow.
What are the risks of investing in EXR?
Claude: Extraordinary revenue growth of +2508.6% YoY appears anomalous and warrants investigation for accounting changes or acquisition activity. Modest ROE of 7.3% and ROA of 3.3% indicate capital efficiency challenges typical of capital-intensive real estate operations. ChatGPT: Revenue growth of +2508.6% suggests a major acquisition or reporting step-change, which may reduce comparability and mask weaker organic trends. Cash on hand is relatively modest at $138.92M compared with the size of the balance sheet.
What is EXR's revenue and growth?
Extra Space Storage Inc. reported revenue of $3.4B.
Does EXR pay dividends?
Extra Space Storage Inc. pays dividends, with $1,374.3M distributed to shareholders in the trailing twelve months.
Where can I find EXR SEC filings?
Official SEC filings for Extra Space Storage Inc. (CIK: 0001289490) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is EXR's EPS?
Extra Space Storage Inc. has a diluted EPS of $4.59.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is EXR a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Extra Space Storage Inc. has a BUY rating with 76% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is EXR stock overvalued or undervalued?
Valuation metrics for EXR: ROE of 7.3% (sector avg: 8%), net margin of 28.8% (sector avg: 20%). Compare these metrics with sector averages to assess valuation.
Should I buy EXR stock in 2026?
Our dual AI analysis gives Extra Space Storage Inc. a combined BUY rating for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is EXR's free cash flow?
Extra Space Storage Inc.'s operating cash flow is $1.9B, with capital expenditures of $561.7M. FCF margin is 38.1%.
How does EXR compare to other Real Estate stocks?
Vs Real Estate sector averages: Net margin 28.8% (avg: 20%), ROE 7.3% (avg: 8%), current ratio N/A (avg: 1.5).