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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
XPLR Infrastructure, LP is the larger business by last-quarter revenue ($249.0M vs $187.0M, roughly 1.3× National Storage Affiliates Trust). National Storage Affiliates Trust runs the higher net margin — 12.2% vs 11.2%, a 1.0% gap on every dollar of revenue. On growth, National Storage Affiliates Trust posted the faster year-over-year revenue change (-1.6% vs -15.3%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $-88.0M). Over the past eight quarters, XPLR Infrastructure, LP's revenue compounded faster (-1.6% CAGR vs -2.4%).
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.
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
NSA vs XIFR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $249.0M |
| Net Profit | $22.9M | $28.0M |
| Gross Margin | 72.5% | — |
| Operating Margin | 20.2% | -19.3% |
| Net Margin | 12.2% | 11.2% |
| Revenue YoY | -1.6% | -15.3% |
| Net Profit YoY | 36.8% | 124.3% |
| EPS (diluted) | $0.23 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $187.0M | $249.0M | ||
| Q3 25 | $188.7M | $315.0M | ||
| Q2 25 | $188.8M | $342.0M | ||
| Q1 25 | $188.4M | $282.0M | ||
| Q4 24 | $190.1M | $294.0M | ||
| Q3 24 | $193.6M | $319.0M | ||
| Q2 24 | $190.4M | $360.0M | ||
| Q1 24 | $196.1M | $257.0M |
| Q4 25 | $22.9M | $28.0M | ||
| Q3 25 | $18.4M | $-37.0M | ||
| Q2 25 | $19.5M | $79.0M | ||
| Q1 25 | $13.0M | $-98.0M | ||
| Q4 24 | $16.7M | $-115.0M | ||
| Q3 24 | $18.7M | $-40.0M | ||
| Q2 24 | $17.1M | $62.0M | ||
| Q1 24 | $59.0M | $70.0M |
| Q4 25 | 72.5% | — | ||
| Q3 25 | 70.7% | — | ||
| Q2 25 | 70.5% | — | ||
| Q1 25 | 70.7% | — | ||
| Q4 24 | 72.5% | — | ||
| Q3 24 | 72.8% | — | ||
| Q2 24 | 72.6% | — | ||
| Q1 24 | 72.1% | — |
| Q4 25 | 20.2% | -19.3% | ||
| Q3 25 | 15.8% | 1.6% | ||
| Q2 25 | 16.5% | 26.3% | ||
| Q1 25 | 11.0% | -82.6% | ||
| Q4 24 | 14.5% | -188.1% | ||
| Q3 24 | 15.8% | 15.4% | ||
| Q2 24 | 17.2% | 18.3% | ||
| Q1 24 | 48.9% | -8.2% |
| Q4 25 | 12.2% | 11.2% | ||
| Q3 25 | 9.8% | -11.7% | ||
| Q2 25 | 10.3% | 23.1% | ||
| Q1 25 | 6.9% | -34.8% | ||
| Q4 24 | 8.8% | -39.1% | ||
| Q3 24 | 9.7% | -12.5% | ||
| Q2 24 | 9.0% | 17.2% | ||
| Q1 24 | 30.1% | 27.2% |
| Q4 25 | $0.23 | — | ||
| Q3 25 | $0.17 | $-0.40 | ||
| Q2 25 | $0.19 | $0.84 | ||
| Q1 25 | $0.10 | $-1.05 | ||
| Q4 24 | $0.19 | — | ||
| Q3 24 | $0.18 | $-0.43 | ||
| Q2 24 | $0.16 | $0.66 | ||
| Q1 24 | $0.65 | $0.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $23.3M | $960.0M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | $946.0M | $10.9B |
| Total Assets | $5.1B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $960.0M | ||
| Q3 25 | $26.3M | $711.0M | ||
| Q2 25 | $26.1M | $880.0M | ||
| Q1 25 | $19.3M | $1.5B | ||
| Q4 24 | $50.4M | $283.0M | ||
| Q3 24 | $69.9M | $290.0M | ||
| Q2 24 | $59.0M | $281.0M | ||
| Q1 24 | $64.2M | $245.0M |
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $946.0M | $10.9B | ||
| Q3 25 | $973.1M | $11.0B | ||
| Q2 25 | $1.0B | $11.3B | ||
| Q1 25 | $1.0B | $12.6B | ||
| Q4 24 | $1.1B | $12.9B | ||
| Q3 24 | $986.9M | $13.6B | ||
| Q2 24 | $1.2B | $13.9B | ||
| Q1 24 | $1.3B | $14.0B |
| Q4 25 | $5.1B | $19.6B | ||
| Q3 25 | $5.1B | $19.1B | ||
| Q2 25 | $5.2B | $20.5B | ||
| Q1 25 | $5.3B | $21.4B | ||
| Q4 24 | $5.4B | $20.3B | ||
| Q3 24 | $5.4B | $20.9B | ||
| Q2 24 | $5.3B | $21.7B | ||
| Q1 24 | $5.4B | $22.3B |
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $338.5M | $186.0M |
| Free Cash FlowOCF − Capex | $299.8M | $-88.0M |
| FCF MarginFCF / Revenue | 160.3% | -35.3% |
| Capex IntensityCapex / Revenue | 20.7% | 110.0% |
| Cash ConversionOCF / Net Profit | 14.79× | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $338.5M | $186.0M | ||
| Q3 25 | $100.2M | $231.0M | ||
| Q2 25 | $79.9M | $232.0M | ||
| Q1 25 | $85.6M | $90.0M | ||
| Q4 24 | $363.1M | $283.0M | ||
| Q3 24 | $105.7M | $208.0M | ||
| Q2 24 | $83.2M | $231.0M | ||
| Q1 24 | $94.0M | $78.0M |
| Q4 25 | $299.8M | $-88.0M | ||
| Q3 25 | $88.0M | $-283.0M | ||
| Q2 25 | $73.8M | $151.0M | ||
| Q1 25 | $79.9M | $1.0M | ||
| Q4 24 | $344.4M | $231.0M | ||
| Q3 24 | $101.8M | $152.0M | ||
| Q2 24 | $79.5M | $162.0M | ||
| Q1 24 | $88.6M | $14.0M |
| Q4 25 | 160.3% | -35.3% | ||
| Q3 25 | 46.6% | -89.8% | ||
| Q2 25 | 39.1% | 44.2% | ||
| Q1 25 | 42.4% | 0.4% | ||
| Q4 24 | 181.2% | 78.6% | ||
| Q3 24 | 52.6% | 47.6% | ||
| Q2 24 | 41.7% | 45.0% | ||
| Q1 24 | 45.2% | 5.4% |
| Q4 25 | 20.7% | 110.0% | ||
| Q3 25 | 6.5% | 163.2% | ||
| Q2 25 | 3.2% | 23.7% | ||
| Q1 25 | 3.0% | 31.6% | ||
| Q4 24 | 9.8% | 17.7% | ||
| Q3 24 | 2.0% | 17.6% | ||
| Q2 24 | 1.9% | 19.2% | ||
| Q1 24 | 2.7% | 24.9% |
| Q4 25 | 14.79× | 6.64× | ||
| Q3 25 | 5.44× | — | ||
| Q2 25 | 4.10× | 2.94× | ||
| Q1 25 | 6.59× | — | ||
| Q4 24 | 21.70× | — | ||
| Q3 24 | 5.65× | — | ||
| Q2 24 | 4.88× | 3.73× | ||
| Q1 24 | 1.59× | 1.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NSA
Segment breakdown not available.
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
