Extra Space Storage Inc. (EXR) Financial Statements

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Extra Space Storage financial statements at a glance

Extra Space Storage reported revenue of $3.38 billion for fiscal year 2025 (ended December 31, 2025), up 3.7% from fiscal year 2024. Net income was $972.26 million, a net margin of 28.8%, and diluted earnings per share were $4.59.

At the end of fiscal year 2025 it had total assets of $29.26 billion, total liabilities of $14.94 billion and shareholders' equity of $13.43 billion, with cash and short-term investments of $138.92 million and total debt of $13.99 billion.

Its operations brought in $1.85 billion of cash; capital spending was $21.14 million, leaving free cash flow of $1.83 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

EXR logo

Extra Space Storage Inc.

EXRUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
3.38B
Prev Year: 3.26B
YoY: +3.7%
Operating Revenue
3.38B
Prev Year: 3.26B
YoY: +3.7%
Tax Rate for Calcs
0.039
Prev Year: 0
Tax Effect of Unusual Items
-849.8K
Prev Year: -2.30M
YoY: +63.1%
Weighted Average Shares (diluted)
211.85M
Prev Year: 211.58M
YoY: +0.1%
Weighted Average Shares (basic)
211.85M
Prev Year: 211.58M
YoY: +0.1%
Diluted EPS
4.59
Prev Year: 4.03
YoY: +13.9%
Basic EPS
4.59
Prev Year: 4.03
YoY: +13.9%
Otherunder Preferred Stock Dividend
1.74M
Prev Year: 1.50M
YoY: +16.3%
Gain on Sale of Business
54.52M
Prev Year: 13.73M
YoY: +297.1%
Cost of Revenue
987.02M
Prev Year: 905.45M
YoY: +9.0%
Gross Profit
2.39B
Prev Year: 2.35B
YoY: +1.7%
Operating Expense
901.52M
Prev Year: 950.42M
YoY: -5.1%
Selling General and Administrative
186.34M
Prev Year: 167.40M
YoY: +11.3%
General and Administrative Expense
186.34M
Prev Year: 167.40M
YoY: +11.3%
Other General and Administrative
186.34M
Prev Year: 167.40M
YoY: +11.3%
Depreciation Amortization Depletion
715.18M
Prev Year: 783.02M
YoY: -8.7%
Depreciation and amortization
715.18M
Prev Year: 783.02M
YoY: -8.7%
Operating Income
1.49B
Prev Year: 1.40B
YoY: +6.3%
Net Non Operating Interest Income Expense
-471.93M
Prev Year: -470.65M
YoY: -0.3%
Non-operating Interest Income
163.20M
Prev Year: 124.42M
YoY: +31.2%
Non-operating Interest Expense
635.13M
Prev Year: 595.07M
YoY: +6.7%
Other Income Expense
47.03M
Prev Year: 3.33M
YoY: +1310.9%
Gain on Sale of Securities
-76.31M
Prev Year: -25.91M
YoY: -194.6%
Equity in Earnings of Affiliates
68.81M
Prev Year: 67.27M
YoY: +2.3%
Special Income Charges
54.52M
Prev Year: -38.03M
YoY: +243.4%
Pre-tax Income
1.06B
Prev Year: 933.71M
YoY: +14.0%
Provision for Income Taxes
41.56M
Prev Year: 33.48M
YoY: +24.1%
Net Income Common Stockholders
972.26M
Prev Year: 853.19M
YoY: +14.0%
Net Income
974.00M
Prev Year: 854.68M
YoY: +14.0%
Net Income Including Non-Controlling Interests
1.02B
Prev Year: 900.23M
YoY: +13.6%
Net Income from Continuing Operations
1.02B
Prev Year: 900.23M
YoY: +13.6%
Noncontrolling Interests
-48.54M
Prev Year: -45.55M
YoY: -6.6%
Diluted NI Available to Com Stockholders
972.26M
Prev Year: 853.19M
YoY: +14.0%
Average Dilution Earnings
-
Total Operating Income as Reported
1.41B
Prev Year: 1.32B
YoY: +6.8%
Total Expenses
1.89B
Prev Year: 1.86B
YoY: +1.8%
Net Income from Continuing and Discontinued Operation
974.00M
Prev Year: 854.68M
YoY: +14.0%
Normalized Income
994.94M
Prev Year: 916.32M
YoY: +8.6%
Interest Income
163.20M
Prev Year: 124.42M
YoY: +31.2%
Interest Expense
635.13M
Prev Year: 595.07M
YoY: +6.7%
Net Interest Income
-471.93M
Prev Year: -470.65M
YoY: -0.3%
EBIT
1.70B
Prev Year: 1.53B
YoY: +11.1%
EBITDA
2.41B
Prev Year: 2.31B
YoY: +4.4%
Reconciled Cost of Revenue
987.02M
Prev Year: 905.45M
YoY: +9.0%
Reconciled Depreciation
715.18M
Prev Year: 783.02M
YoY: -8.7%
Net Income from Continuing Operation Net Minority Interest
974.00M
Prev Year: 854.68M
YoY: +14.0%
Total Unusual Items Excluding Goodwill
-21.79M
Prev Year: -63.94M
YoY: +65.9%
Total Unusual Items
-21.79M
Prev Year: -63.94M
YoY: +65.9%
Normalized EBITDA
2.44B
Prev Year: 2.38B
YoY: +2.5%
Values in USD

Extra Space Storage key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$3.4B$3.3B$2.6B$1.9B$1.6B
Gross profit$2.4B$2.4B$1.9B$1.5B$1.2B
Operating income$1.5B$1.4B$1.2B$1.0B$835.2M
Net income$972.3M$853.2M$802.0M$859.5M$826.5M
Diluted EPS$4.59$4.03$4.74$6.41$6.19
Total assets$29.3B$28.8B$27.5B$12.2B$10.5B
Total liabilities$14.9B$14.0B$12.0B$8.1B$6.7B
Shareholders' equity$13.4B$13.9B$14.4B$3.3B$3.1B
Cash and short-term investments$138.9M$138.2M$99.1M$92.9M$71.1M
Total debt$14.0B$13.0B$11.3B$7.6B$6.2B
Operating cash flow$1.9B$1.9B$1.4B$1.2B$952.4M
Capital spending$21.1M$20.5M$16.0M$22.8M$3.7M
Free cash flow$1.8B$1.9B$1.4B$1.2B$948.8M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Extra Space Storage's revenue in fiscal year 2025?

$3.38 billion, up 3.7% from $3.26 billion in fiscal year 2024.

How much profit does Extra Space Storage make?

Extra Space Storage reported net income of $972.26 million for fiscal year 2025 (28.8% of revenue); operating income was $1.49 billion.

How much cash and debt does Extra Space Storage have?

At the end of fiscal year 2025: cash and short-term investments of $138.92 million and total debt of $13.99 billion.

What is Extra Space Storage's free cash flow?

$1.83 billion in fiscal year 2025 (operating cash flow of $1.85 billion minus capital spending of $21.14 million).

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