Is Extra Space Storage (EXR) overvalued or fairly valued?

MarketChacha shows Extra Space Storage's valuation in context — a trailing P/E of about 32.4, a forward P/E of about 29.4, a price-to-book of about 2.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Extra Space Storage's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.95×) from reported figures — education, not a rating.

What is Extra Space Storage's revenue?

Extra Space Storage reported revenue of $129.5M for FY2025, with net profit of $974.0M, per official filings.

What is the share price of Extra Space Storage (EXR)?

Extra Space Storage last traded at $141.05 (+2.1% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Extra Space Storage

EXR · NYSE · Real Estate · United States

Snapshot

TickerEXR

ExchangeNYSE

SectorReal Estate

IndustryREIT - Industrial

CountryUnited States

Employees8,393

HeadquartersSalt Lake City, United States

Websitewww.extraspace.com

Filings tracked19

About Extra Space Storage

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of June 30, 2026, the Company owned and/or operated 4,410 self-storage stores in 42 states and Washington, D.C. The Company's stores comprise approximately 3.0 million units and approximately 341.0 million square feet of rentable space operating under the Extra Space brand. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage, and business storage. It is the largest operator of self-storage properties in the United States. Extra Space Storage Inc. was incorporated in 1977 in Maryland, USA.

Who owns it

Insiders0.9%
Institutions99.1%
Public & other0.0%

1,148 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.10.86%
Vanguard Portfolio Management LLC8.81%
Vanguard Capital Management LLC6.54%
State Street Corporation6.42%
Cohen & Steers Inc.6.10%
NORGES BANK4.40%
Capital Research Global Investors2.98%
Geode Capital Management, LLC2.91%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 56.3 points over the period — profitability is trending down.

Cash conversion1.95×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Operating margin trend1147.4% → 1091.1%

Margin has compressed by about 56.3 points over the period — profitability is trending down.

Return on equity7.3%

Latest ROE of 7.3% is on the low side — the business earns a modest return on shareholder capital.

Growth qualityrev 13% · PAT 10%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

One-off items3 of last 3 yrs

Recent reported profit includes sizeable one-off / non-operating items — the underlying operating trend may differ from the headline.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $744.6M · EPS 1.17

Est. earnings growth -13.7%

Next fiscal year

Rev $3.1B · EPS 4.83

Est. earnings growth +3.9%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$129.5M

ROE

7.3%

Revenue CAGR (2y)

+12.7%

Profit CAGR (2y)

+10.1%

EPS (FY2025)

4.59

Net profit (FY2025)

$974.0M

Ask MarketChacha about EXR

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Financials

Yearly

Period	Revenue	Net profit	EPS	ROE
FY2025	$129.5M	$974.0M*	4.59	7.3%
FY2024	$120.9M	$854.7M*	4.03	6.1%
FY2023	$102.0M	$803.2M*	4.74	5.6%

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Quarterly

Period	Revenue	Net profit	EPS
2026Q2	$34.9M	$263.5M*	1.25
2026Q1	$33.7M	$241.0M*	1.14
2025Q3	$32.5M	$166.0M*	0.78
2025Q2	$32.0M	$249.7M*	1.18
2025Q1	$30.9M	$270.9M*	1.28
2024Q3	$29.9M	$193.2M*	0.91
2024Q2	$29.9M	$185.9M*	0.88
2024Q1	$30.1M	$213.1M*	1.01
2023Q3	$28.0M	$188.3M*	0.96
2023Q2	$22.2M	$202.4M*	1.50
2023Q1	$21.4M	$196.3M*	1.46

* Net profit includes one-off / non-operating items (e.g. a settlement or accounting gain), so it doesn’t reflect operating performance — net margin is hidden for that period.

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC8/24/2026material
10-Q filing
SEC7/31/2026
8-K — Results of operations, Exhibits
SEC7/28/2026material
8-K — Material agreement, Material financial obligation, Exhibits
SEC7/6/2026material
8-K — Other events, Exhibits
SEC6/25/2026material
8-K — Shareholder vote results
SEC5/15/2026material
10-Q filing
SEC5/1/2026
8-K — Results of operations, Exhibits
SEC4/28/2026material
10-K filing
SEC2/20/2026
8-K — Results of operations, Exhibits
SEC2/19/2026material
8-K — Executive/director change, Reg FD disclosure, Exhibits
SEC1/5/2026material

2025

10-Q filing
SEC10/31/2025
8-K — Results of operations, Exhibits
SEC10/29/2025material
8-K — Material agreement, Material financial obligation, Exhibits
SEC8/26/2025material
8-K — Material agreement, Material financial obligation, Exhibits
SEC8/8/2025material
8-K — Other events, Exhibits
SEC8/7/2025material
8-K — Other events, Exhibits
SEC8/6/2025material
10-Q filing
SEC8/1/2025
8-K — Results of operations, Exhibits
SEC7/30/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.