Extra Space StorageEXREarnings & Financial Report
Extra Space Storage Inc. is an American real estate investment trust headquartered in Cottonwood Heights, Utah that invests in self storage facilities. The company rents storage units, including climate controlled units, drive-up units, lockers, boat storage, RV storage and business storage under the brands Extra Space Storage, Life Storage, and Storage Express. As of March 28, 2024 the company owned and/or operated 3,714 locations in 43 states, and Washington, D.C. comprising approximately 2.
Revenue
$820.0M
Gross Profit
$596.4M
Operating Profit
$388.7M
Net Profit
$270.9M
Gross Margin
72.7%
Operating Margin
47.4%
Net Margin
33.0%
YoY Growth
2.6%
EPS
$1.28
Extra Space Storage Q1 FY2025 Financial Summary
Extra Space Storage reported revenue of $820.0M (up 2.6% YoY) for Q1 FY2025, with a net profit of $270.9M (up 27.1% YoY) (33.0% margin). Cost of goods sold was $223.6M, operating expenses totaled $207.7M.
Key Financial Metrics
| Total Revenue | $820.0M |
|---|---|
| Net Profit | $270.9M |
| Gross Margin | 72.7% |
| Operating Margin | 47.4% |
| Report Period | Q1 FY2025 |
Extra Space Storage Annual Revenue by Year
Extra Space Storage annual revenue history includes year-by-year totals (for example, 2025 revenue was $3.4B).
| Year | Annual Revenue |
|---|---|
| 2025 | $3.4B |
| 2024 | $3.3B |
| 2023 | $102.0M |
| 2022 | $83.9M |
Extra Space Storage Quarterly Revenue & Net Profit History
Extra Space Storage results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $856.0M | +4.4% | $241.0M | 28.2% |
| Q4 FY2025 | $857.5M | +4.3% | $287.4M | 33.5% |
| Q3 FY2025 | $858.5M | +4.1% | $166.0M | 19.3% |
| Q2 FY2025 | $841.6M | +3.8% | $249.7M | 29.7% |
| Q1 FY2025 | $820.0M | +2.6% | $270.9M | 33.0% |
| Q4 FY2024 | $821.9M | +3.0% | $262.5M | 31.9% |
| Q3 FY2024 | $824.8M | +10.3% | $193.2M | 23.4% |
| Q2 FY2024 | $810.7M | +58.5% | $185.9M | 22.9% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $810.7M | $824.8M | $821.9M | $820.0M | $841.6M | $858.5M | $857.5M | $856.0M |
| YoY Growth | 58.5% | 10.3% | 3.0% | 2.6% | 3.8% | 4.1% | 4.3% | 4.4% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $27.76B | $28.06B | $28.85B | $28.99B | $29.37B | $29.23B | $29.26B | $29.10B |
| Liabilities | $12.63B | $13.10B | $13.99B | $14.22B | $14.69B | $14.74B | $14.94B | $14.89B |
| Equity | $14.17B | $14.01B | $13.95B | $13.89B | $13.79B | $13.62B | $13.43B | N/A |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $545.2M | $468.4M | $1.89B | $481.4M | $543.9M | $457.1M | $1.85B |