(EXR) Extra Space Storage - Ratings and Ratios
Self-Storage, Boat Storage, RV Storage, Business Storage
EXR EPS (Earnings per Share)
EXR Revenue
Description: EXR Extra Space Storage October 14, 2025
Extra Space Storage Inc. (NYSE: EXR) is a self-administered REIT that operates the nation’s largest portfolio of self-storage facilities, with 4,179 sites across 43 states and Washington, D.C. as of June 30 2025. The network comprises roughly 2.9 million storage units and 321.5 million rentable square feet, branded under the Extra Space name, and includes specialty offerings such as boat, RV, and business storage.
**Key operational metrics (FY 2024)** – The company reported an average occupancy rate of ≈ 95 % and a same-store net operating income (NOI) growth of ≈ 7 % YoY, driven by modest rent-per-square-foot increases of about 3 % and a continued shift toward higher-margin specialty units. These figures are consistent with the sector’s historical occupancy range of 93-96 % and suggest a resilient demand backdrop.
**Economic and sector drivers** – Demand for self-storage remains positively correlated with two macro trends: (1) the ongoing “housing churn” caused by younger millennials moving more frequently, and (2) the expansion of e-commerce, which fuels inventory-overflow needs for small-to-medium businesses. Both trends have historically contributed to a sector-wide rent-growth base rate of roughly 2-4 % annually, independent of company-specific actions.
**Financial positioning** – As of the latest filing, EXR carried a net debt-to-EBITDA ratio of ≈ 5.5×, with a weighted-average debt maturity extending to 2029. This leverage level is slightly above the self-storage industry median of ≈ 5.0×, implying modest refinancing risk if interest rates remain elevated. The REIT’s dividend yield hovered around 3.5 % in 2024, supported by its policy of returning at least 75 % of adjusted FFO to shareholders.
For a deeper quantitative breakdown, the ValueRay platform offers a granular model of EXR’s cash-flow assumptions and sensitivity analyses.
EXR Stock Overview
| Market Cap in USD | 33,703m |
| Sub-Industry | Self-Storage REITs |
| IPO / Inception | 2004-08-12 |
EXR Stock Ratings
| Growth Rating | -14.4% |
| Fundamental | 58.9% |
| Dividend Rating | 77.9% |
| Return 12m vs S&P 500 | -25.3% |
| Analyst Rating | 3.65 of 5 |
EXR Dividends
| Dividend Yield 12m | 4.57% |
| Yield on Cost 5y | 6.75% |
| Annual Growth 5y | 15.83% |
| Payout Consistency | 96.7% |
| Payout Ratio | 140.6% |
EXR Growth Ratios
| Growth Correlation 3m | 77.5% |
| Growth Correlation 12m | -46.6% |
| Growth Correlation 5y | 12.3% |
| CAGR 5y | 0.55% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.01 |
| CAGR/Mean DD 3y (Pain Ratio) | 0.04 |
| Sharpe Ratio 12m | -0.30 |
| Alpha | -32.98 |
| Beta | 1.113 |
| Volatility | 30.69% |
| Current Volume | 1177.8k |
| Average Volume 20d | 922.5k |
| Stop Loss | 137.5 (-3%) |
| Signal | -0.77 |
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income (975.9m TTM) > 0 and > 6% of Revenue (6% = 202.6m TTM) |
| FCFTA 0.06 (>2.0%) and ΔFCFTA 0.31pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 20.19% (prev 2.42%; Δ 17.78pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.06 (>3.0%) and CFO 1.90b > Net Income 975.9m (YES >=105%, WARN >=100%) |
| Net Debt (13.52b) to EBITDA (2.30b) ratio: 5.87 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.56 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (211.9m) change vs 12m ago 0.15% (target <= -2.0% for YES) |
| Gross Margin 75.68% (prev 76.19%; Δ -0.51pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 11.82% (prev 11.60%; Δ 0.23pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.54 (EBITDA TTM 2.30b / Interest Expense TTM 615.1m) >= 6 (WARN >= 3) |
Altman Z'' 0.32
| (A) 0.02 = (Total Current Assets 1.90b - Total Current Liabilities 1.22b) / Total Assets 29.37b |
| (B) -0.04 = Retained Earnings (Balance) -1.08b / Total Assets 29.37b |
| (C) 0.05 = EBIT TTM 1.56b / Avg Total Assets 28.57b |
| (D) -0.07 = Book Value of Equity -1.07b / Total Liabilities 14.69b |
| Total Rating: 0.32 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 58.93
| 1. Piotroski 3.0pt = -2.0 |
| 2. FCF Yield 3.99% = 1.99 |
| 3. FCF Margin 55.75% = 7.50 |
| 4. Debt/Equity 0.99 = 2.03 |
| 5. Debt/Ebitda 5.87 = -2.50 |
| 6. ROIC - WACC (= -1.83)% = -2.29 |
| 7. RoE 7.02% = 0.58 |
| 8. Rev. Trend 86.98% = 6.52 |
| 9. EPS Trend -58.34% = -2.92 |
What is the price of EXR shares?
Over the past week, the price has changed by -6.79%, over one month by +0.22%, over three months by -5.64% and over the past year by -10.60%.
Is Extra Space Storage a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of EXR is around 133.86 USD . This means that EXR is currently overvalued and has a potential downside of -5.57%.
Is EXR a buy, sell or hold?
- Strong Buy: 4
- Buy: 5
- Hold: 11
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the EXR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 157.3 | 10.9% |
| Analysts Target Price | 157.3 | 10.9% |
| ValueRay Target Price | 147.9 | 4.4% |
EXR Fundamental Data Overview October 25, 2025
P/E Trailing = 32.7848
P/E Forward = 29.0698
P/S = 9.9324
P/B = 2.1774
P/EG = 3.6448
Beta = 1.113
Revenue TTM = 3.38b USD
EBIT TTM = 1.56b USD
EBITDA TTM = 2.30b USD
Long Term Debt = 12.20b USD (from longTermDebt, last quarter)
Short Term Debt = 706.0m USD (from shortTermDebt, last quarter)
Debt = 13.65b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 13.52b USD (from netDebt column, last quarter)
Enterprise Value = 47.23b USD (33.70b + Debt 13.65b - CCE 125.0m)
Interest Coverage Ratio = 2.54 (Ebit TTM 1.56b / Interest Expense TTM 615.1m)
FCF Yield = 3.99% (FCF TTM 1.88b / Enterprise Value 47.23b)
FCF Margin = 55.75% (FCF TTM 1.88b / Revenue TTM 3.38b)
Net Margin = 28.90% (Net Income TTM 975.9m / Revenue TTM 3.38b)
Gross Margin = 75.68% ((Revenue TTM 3.38b - Cost of Revenue TTM 821.3m) / Revenue TTM)
Gross Margin QoQ = 70.94% (prev 73.15%)
Tobins Q-Ratio = 1.61 (Enterprise Value 47.23b / Total Assets 29.37b)
Interest Expense / Debt = 1.16% (Interest Expense 157.9m / Debt 13.65b)
Taxrate = 4.24% (11.6m / 274.4m)
NOPAT = 1.49b (EBIT 1.56b * (1 - 4.24%))
Current Ratio = 1.56 (Total Current Assets 1.90b / Total Current Liabilities 1.22b)
Debt / Equity = 0.99 (Debt 13.65b / totalStockholderEquity, last quarter 13.79b)
Debt / EBITDA = 5.87 (Net Debt 13.52b / EBITDA 2.30b)
Debt / FCF = 7.18 (Net Debt 13.52b / FCF TTM 1.88b)
Total Stockholder Equity = 13.91b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.32% (Net Income 975.9m / Total Assets 29.37b)
RoE = 7.02% (Net Income TTM 975.9m / Total Stockholder Equity 13.91b)
RoCE = 5.97% (EBIT 1.56b / Capital Employed (Equity 13.91b + L.T.Debt 12.20b))
RoIC = 5.69% (NOPAT 1.49b / Invested Capital 26.23b)
WACC = 7.52% (E(33.70b)/V(47.35b) * Re(10.12%) + D(13.65b)/V(47.35b) * Rd(1.16%) * (1-Tc(0.04)))
Discount Rate = 10.12% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.85%
[DCF Debug] Terminal Value 74.95% ; FCFE base≈1.81b ; Y1≈2.22b ; Y5≈3.77b
Fair Price DCF = 211.8 (DCF Value 44.94b / Shares Outstanding 212.3m; 5y FCF grow 24.64% → 3.0% )
EPS Correlation: -58.34 | EPS CAGR: -61.52% | SUE: -4.0 | # QB: 0
Revenue Correlation: 86.98 | Revenue CAGR: 19.98% | SUE: 0.76 | # QB: 0
Additional Sources for EXR Stock
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Fund Manager Positions: Dataroma | Stockcircle