# Extra Space Storage Inc (EXR) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Real Estate / Specialty REITs. Price $156.23, market value $34.5 billion.

## Valuation
- **P/E (trailing): 31.8×** (5-yr avg 28.6×, 3-yr avg 30.9×). Extra Space Storage Inc trades at 31.8× trailing earnings, close to its own five-year average of 28.6×. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 32.3×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 2.32**. A PEG of 2.32 means the P/E is high relative to expected earnings growth; the price already assumes a lot.
- **Price / sales: 34.7×**. Each dollar of revenue is priced at 34.7×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 2.5×**. The shares trade at 2.5× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 15.4×**. Enterprise value is 15.4× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Earnings yield: 3.1%**. The inverse of the P/E: 3.1% of the price is earned each year.

## Profitability
- **Operating margin: 153.4%**. 153.4% of revenue is left after running the business, an exceptional level.
- **Return on equity: 7.3%**. 7.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 8.7%**. Return on all capital, debt included, is 8.7%.
- **Return on assets: 3.6%**. Each dollar of assets produces 3.6% of profit.

## Growth
- **Revenue growth (1 yr): 7.1%** (3-yr 15.6%/yr, 5-yr 20.0%/yr). Revenue grew 7.1% over the last year, against 20.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 13.9%** (3-yr -10.5%/yr, 5-yr 4.3%/yr). Earnings per share rose 13.9%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 206.2%/yr**. Free cash flow has compounded at 206.2% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.04**. Debt is 0.04 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.2×**. It would take 0.2 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 2.19**. A Z-score of 2.19 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 4.15%** ($6.48 per share, trailing). Extra Space Storage Inc yields 4.15%, an income-level yield.
- **Payout ratio: 141%**. The dividend exceeds earnings (141% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 16**. 16 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 12.5%/yr** (1-yr 0.0%). The dividend has compounded at 12.5% a year over five years, doubling roughly every 6 years at that pace.
- **Shareholder yield: 5.5%**. Dividends plus net buybacks return 5.5% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (20 analysts). 20 analysts cover Extra Space Storage Inc; the consensus is buy, with an average price target of $157.40 (+1% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 20.9%** (YTD 22.5%, 3-mo 4.2%). The shares are up 20.9% over twelve months including dividends.
- **From 52-week high: -1.7%** (24.3% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 81**. An RSI of 81 is in overbought territory; short-term pullbacks are common from here.
- **Beta (1 yr): 0.32** (volatility 23%). Beta of 0.32 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=EXR · Page: https://foliofundamentals.com/stocks/exr

Not investment advice.