# Extra Space Storage, Inc. (EXR) — Stock CV

Extra Space Storage, Inc. is a $28.4B real estate company. Revenue grew 4.2% over the last year, and it keeps 28¢ of every dollar of sales as profit. It trades at 29.7× earnings — around the middle of its own history.

> Extra Space Storage is a fully integrated real estate investment trust that owns, operates, and manages more than 4,200 self-storage properties in 43 states, with over 330 million net rentable square feet of storage space.

## Identity

- **Ticker**: EXR
- **Sector**: Real Estate
- **Industry**: Real Estate Investment Trusts
- **Headquarters**: SALT LAKE CITY, UT
- **Employees**: 8 393
- **Website**: http://www.extraspace.com
- **Market cap**: $28.4B
- **Last price**: $134.65
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $3.45B
- **Net income**: $958M
- **Free cash flow**: $1.90B
- **P/E**: 29.7
- **Revenue growth (YoY)**: 4.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 64 |
| Growth | 42 |
| Profitability | 60 |
| Health | 16 |
| Quality | 60 |
| Moat | 70 |

## Qualifications (beginner checklist) — 7 of 11 passed

- [x] Revenue growing — +4.2% YoY
- [x] Profitable — $958M TTM
- [ ] Profit growing — -8.9% YoY
- [x] Generates cash — $1.90B TTM
- [ ] Debt under control — current ratio 0.76
- [x] Established company — $28.4B market cap
- [ ] Not printing shares — +63.5% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 16/100
- [x] Pays a dividend — yield 4.82%
- [x] Valuation not extreme — P/E 29.7

## Experience (career milestones)

- **FY2025** — Best year on record: $974M net income
- **FY2018** — Revenue crossed $1B: $1.20B for the year
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Positive free cash flow every year since: 10-year streak

## Strengths

- High gross margin (70.8%)
- Strongly profitable — 27.8% net margin
- Strong cash conversion — FCF is 55.2% of revenue

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.58B | $828M | $952M |
| FY2022 | $1.92B | $861M | $1.24B |
| FY2023 | $2.56B | $803M | $1.40B |
| FY2024 | $3.26B | $855M | $1.89B |
| FY2025 | $3.38B | $974M | $1.85B |

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Source: https://stockcv.com/EXR — derived from company filings; may be delayed or incomplete. Information, not investment advice.