📊 EXR Key Takeaways
Is EXR a Good Investment? Thesis Analysis
Extra Space Storage demonstrates strong operational performance with robust profitability metrics (41.8% operating margin, 28.8% net margin) and healthy free cash flow generation ($1.3B annually with 38.1% FCF margin). The company maintains conservative leverage (0.04x debt/equity ratio) and solid interest coverage (10.6x), providing financial flexibility and stability in the REIT sector.
Why Buy EXR? Key Strengths
- Exceptional operating efficiency with 41.8% operating margin and strong net profitability at 28.8%
- Robust free cash flow generation of $1.3B with healthy 38.1% FCF margin supports dividend sustainability
- Conservative capital structure with 0.04x debt/equity ratio and 10.6x interest coverage indicates low financial risk
- Substantial operating cash flow of $1.9B demonstrates consistent cash generation capability
- Large asset base of $29.3B with reasonable leverage profile for REITs
EXR Investment Risks to Consider
- Extraordinary revenue growth of +2508.6% YoY appears anomalous and warrants investigation for accounting changes or acquisition activity
- Modest ROE of 7.3% and ROA of 3.3% indicate capital efficiency challenges typical of capital-intensive real estate operations
- Low cash position of $138.9M relative to $29.3B total assets limits financial flexibility for opportunistic investments
- Real estate sector sensitivity to economic cycles, occupancy rates, and rental market conditions not fully reflected in current metrics
- Significant long-term debt of $560.6M requires ongoing service and refinancing monitoring
Key Metrics to Watch
- Same-store NOI growth and occupancy rates for core portfolio
- Operating cash flow trend sustainability and FCF conversion quality
- Debt levels and leverage ratios as interest rate environment evolves
- Capital allocation strategy between dividends, debt reduction, and property acquisitions
EXR Financial Metrics
💡 AI Analyst Insight
The 38.1% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. The current ratio below 1.0x warrants monitoring of short-term liquidity.
EXR Profitability Ratios
EXR vs Default Sector
How Extra Space Storage Inc. compares to Default sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is EXR Overvalued or Undervalued?
Based on fundamental analysis, Extra Space Storage Inc. has mixed fundamental signals relative to the Default sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
EXR Balance Sheet & Liquidity
EXR 5-Year Financial Trend & Growth Analysis
5-Year Trend Summary: Extra Space Storage Inc.'s revenue has grown significantly by 95% over the 5-year period, indicating strong business expansion. The most recent EPS of $4.74 reflects profitable operations.
EXR Growth Metrics (YoY)
EXR Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $29.9M | $166.0M | $0.78 |
| Q2 2025 | $29.9M | $185.9M | $0.88 |
| Q1 2025 | $30.1M | $213.1M | $1.01 |
| Q3 2024 | $28.0M | $188.4M | $0.91 |
| Q2 2024 | $22.2M | $185.9M | $0.88 |
| Q1 2024 | $21.4M | $196.3M | $1.01 |
| Q3 2023 | $22.2M | $188.4M | $0.96 |
| Q2 2023 | $20.5M | $202.4M | $1.50 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
EXR Capital Allocation
EXR SEC 10-K & 10-Q Filing Analysis
Access official SEC EDGAR filings for Extra Space Storage Inc. (CIK: 0001289490)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Mar 16, 2026 | 4 | xslF345X05/wk-form4_1773696400.xml | View → |
| Mar 3, 2026 | 4 | xslF345X05/wk-form4_1772590769.xml | View → |
| Mar 3, 2026 | 4 | xslF345X05/wk-form4_1772590709.xml | View → |
| Mar 3, 2026 | 4 | xslF345X05/wk-form4_1772590624.xml | View → |
| Mar 3, 2026 | 4 | xslF345X05/wk-form4_1772590475.xml | View → |
❓ Frequently Asked Questions about EXR
What is the AI rating for EXR?
Extra Space Storage Inc. (EXR) has an AI rating of BUY with 75% confidence, based on fundamental analysis of SEC EDGAR filings.
What are EXR's key strengths?
Claude: Exceptional operating efficiency with 41.8% operating margin and strong net profitability at 28.8%. Robust free cash flow generation of $1.3B with healthy 38.1% FCF margin supports dividend sustainability.
What are the risks of investing in EXR?
Claude: Extraordinary revenue growth of +2508.6% YoY appears anomalous and warrants investigation for accounting changes or acquisition activity. Modest ROE of 7.3% and ROA of 3.3% indicate capital efficiency challenges typical of capital-intensive real estate operations.
What is EXR's revenue and growth?
Extra Space Storage Inc. reported revenue of $3.4B.
Does EXR pay dividends?
Extra Space Storage Inc. pays dividends, with $1,374.3M distributed to shareholders in the trailing twelve months.
Where can I find EXR SEC filings?
Official SEC filings for Extra Space Storage Inc. (CIK: 0001289490) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is EXR's EPS?
Extra Space Storage Inc. has a diluted EPS of $4.59.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is EXR a good stock to buy right now?
Based on our AI fundamental analysis in March 2026, Extra Space Storage Inc. has a BUY rating with 75% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is EXR stock overvalued or undervalued?
Valuation metrics for EXR: ROE of 7.3% (sector avg: 15%), net margin of 28.8% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy EXR stock in 2026?
Our dual AI analysis gives Extra Space Storage Inc. a combined BUY rating for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is EXR's free cash flow?
Extra Space Storage Inc.'s operating cash flow is $1.9B, with capital expenditures of $561.7M. FCF margin is 38.1%.
How does EXR compare to other Default stocks?
Vs Default sector averages: Net margin 28.8% (avg: 12%), ROE 7.3% (avg: 15%), current ratio N/A (avg: 1.8).