Extra Space Storage Inc

EXR Real Estate Reit Industrial

Extra Space Storage Inc’s revenue for fiscal 2025 (year ended December 2025) was $3.4 billion, up 3.70% from fiscal 2024.

Revenue
+3.65%
EPS
+50.0%
Free cash flow
−27.7%
Total debt
+3.90%

Quarter to September 2026, against a year earlier

159.98 1.06 −0.66%
Market cap
$34.9B
P/E
32.5×
Fwd P/E
32.6×
Dividend yield
4.05%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Extra Space Storage Inc (EXR) Operating margin

Alert me on Operating margin

Extra Space Storage Inc's operating margin over the twelve months to 30 September 2026 was 43.8%, up 2.0 percentage points from fiscal 2025 (41.8%). Over the past ten years it has ranged from 37.7% (fiscal 2015) to 61.9% (fiscal 2021); the current reading is higher than 27% of that period. That is above the Reit Industrial industry median of 40.6% and above the Real Estate sector median of 17.8%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 41.8% 1.20
FY2024 40.6% (5.07)
FY2023 45.7% (8.89)
FY2022 54.6% (7.28)
FY2021 61.9% 12.75
FY2020 49.1% 0.59
FY2019 48.5% (3.26)
FY2018 51.8% (7.43)
FY2017 59.2% 13.01
FY2016 46.2% 8.54

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 44.0% (0.82)
Jun 2026 44.9% 1.92
Mar 2026 42.9% (0.31)
Dec 2025 43.3% 10.74
43 more quarters

Against its own ten years

Low 37.7% High 61.9%
Ten-year median 48.5%
Current reading's percentile 33

Operating margin against peers

Company Operating margin
PLD Prologis, Inc. compare 54.8%
EXR Extra Space Storage Inc 43.8%
TRNO Terreno Realty Corporation compare 41.6%
FR First Industrial Realty Trust, Inc. compare 41.6%
CUBE CubeSmart compare 40.8%
EGP EastGroup Properties, Inc. compare 40.8%
PSA Public Storage compare 40.5%
REXR Rexford Industrial Realty, Inc. compare 39.9%
LINE Lineage, Inc. compare 3.57%
Reit Industrial industry median 40.6%
Real Estate sector median 17.8%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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