National Storage Affiliates TrustNSAEarnings & Financial Report
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
Revenue
$190.1M
Gross Profit
$137.9M
Operating Profit
$27.6M
Net Profit
$16.7M
Gross Margin
72.5%
Operating Margin
14.5%
Net Margin
8.8%
YoY Growth
-11.7%
EPS
$0.19
National Storage Affiliates Trust Q4 FY2024 Financial Summary
National Storage Affiliates Trust reported revenue of $190.1M (down 11.7% YoY) for Q4 FY2024, with a net profit of $16.7M (down 75.8% YoY) (8.8% margin). Cost of goods sold was $52.2M, operating expenses totaled $110.3M.
Key Financial Metrics
| Total Revenue | $190.1M |
|---|---|
| Net Profit | $16.7M |
| Gross Margin | 72.5% |
| Operating Margin | 14.5% |
| Report Period | Q4 FY2024 |
National Storage Affiliates Trust Annual Revenue by Year
National Storage Affiliates Trust annual revenue history includes year-by-year totals (for example, 2025 revenue was $752.9M).
| Year | Annual Revenue |
|---|---|
| 2025 | $752.9M |
| 2024 | $770.3M |
| 2023 | $858.1M |
| 2022 | $801.6M |
National Storage Affiliates Trust Quarterly Revenue & Net Profit History
National Storage Affiliates Trust results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $187.0M | -1.6% | $22.9M | 12.2% |
| Q3 FY2025 | $188.7M | -2.5% | $18.4M | 9.8% |
| Q2 FY2025 | $188.8M | -0.8% | $19.5M | 10.3% |
| Q1 FY2025 | $188.4M | -4.0% | $13.0M | 6.9% |
| Q4 FY2024 | $190.1M | -11.7% | $16.7M | 8.8% |
| Q3 FY2024 | $193.6M | -11.6% | $18.7M | 9.7% |
| Q2 FY2024 | $190.4M | -11.6% | $17.1M | 9.0% |
| Q1 FY2024 | $196.1M | -5.7% | $59.0M | 30.1% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $196.1M | $190.4M | $193.6M | $190.1M | $188.4M | $188.8M | $188.7M | $187.0M |
| YoY Growth | -5.7% | -11.6% | -11.6% | -11.7% | -4.0% | -0.8% | -2.5% | -1.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $5.37B | $5.32B | $5.39B | $5.35B | $5.26B | $5.18B | $5.14B | $5.08B |
| Liabilities | $3.42B | $3.50B | $3.59B | $3.59B | $3.56B | $3.54B | $3.56B | $3.55B |
| Equity | $1.28B | $1.19B | $986.9M | $1.08B | $1.03B | $1.00B | $973.1M | $946.0M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $94.0M | $83.2M | $105.7M | $363.1M | $85.6M | $79.9M | $100.2M | $338.5M |