Extra Space Storage Inc. (EXR) Income Statement
EXR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsEXR revenue and net income
Where EXR's revenue goes
2025Each bar shows an amount and its share of revenue. EXR kept 28.8% of revenue as net income.
EXR profit margins
EXR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.2% | +19.8% | +19.6% | +15.6% |
| Gross profit | −62.3% | −14.6% | −1.2% | +5.0% |
| Operating income | +12.5% | +12.3% | +17.5% | +17.6% |
| Net income | +14.0% | +4.2% | +15.1% | +17.8% |
| EPS (diluted) | +13.9% | −9.7% | +4.5% | +11.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
EXR quarterly EPS vs estimates
Extra Space beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 27, 2026 (estimate $2.10).
EXR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.38B | $3.34B | $2.62B | $1.97B | $1.61B | $1.38B | $1.32B | $1.21B | $1.12B | $1.00B |
| Cost of revenue | $2.42B | $790.8M | $594.0M | $423.4M | $379.3M | $358.8M | $340.3M | $301.2M | $276.7M | $252.7M |
| Gross profit | $960.2M | $2.55B | $2.02B | $1.54B | $1.23B | $1.02B | $979.4M | $909.8M | $843.6M | $752.1M |
| Research & development | — | — | $0 | $0 | $1 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $186.3M | $282.1M | $223.3M | $174.9M | $121.0M | $124.9M | $114.5M | $97.4M | $93.4M | $90.7M |
| Total operating expenses | −$528.8M | $1.22B | $850.9M | $491.8M | $254.5M | $353.7M | $344.4M | $290.1M | $189.2M | $293.8M |
| Operating income | $1.49B | $1.32B | $1.17B | $1.05B | $976.0M | $666.1M | $635.0M | $619.7M | $541.6M | $449.8M |
| Interest income | $163.2M | $124.4M | $79.9M | $108.3M | $49.7M | $15.2M | $7.5M | $5.3M | $6.7M | $11.0M |
| Interest expense | $635.1M | $595.1M | $437.8M | $219.2M | $166.2M | $172.3M | $191.3M | $183.1M | $158.6M | $138.5M |
| Income before taxes | $1.06B | $933.7M | $872.0M | $942.1M | $898.1M | $531.4M | $462.4M | $456.3M | $517.8M | $412.9M |
| Income taxes | $41.6M | $33.5M | $21.6M | $20.9M | $20.3M | $13.8M | $11.3M | $9.2M | $3.6M | $15.8M |
| Net income | $974.0M | $854.7M | $803.2M | $860.7M | $827.6M | $481.8M | $420.0M | $415.3M | $479.0M | $366.1M |
| EBITDA | $2.41B | $2.27B | $1.80B | $1.37B | $1.11B | $894.9M | $864.9M | $812.4M | $750.2M | $661.4M |
| EPS (diluted) | $4.60 | $4.04 | $5.21 | $6.24 | $5.55 | $3.70 | $3.19 | $3.27 | $3.70 | $2.57 |
| Gross margin | 28.4% | 76.3% | 77.3% | 78.5% | 76.4% | 74.0% | 74.2% | 75.1% | 75.3% | 74.9% |
| Operating margin | 44.1% | 39.6% | 44.7% | 53.4% | 60.6% | 48.3% | 48.1% | 51.2% | 48.3% | 44.8% |
| Net margin | 28.8% | 25.6% | 30.7% | 43.8% | 51.4% | 34.9% | 31.8% | 34.3% | 42.8% | 36.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $874.2M | $856.0M | $918.4M | $777.6M | $841.6M | $839.9M | $840.7M | $854.8M | $827.9M | $814.5M | $814.0M | $763.1M |
| Cost of revenue | $434.7M | $256.2M | $1.48B | $470.1M | $244.6M | $225.5M | $124.7M | $226.5M | $216.5M | $206.4M | $139.3M | $204.3M |
| Gross profit | $439.5M | $599.9M | −$558.7M | $307.4M | $597.1M | $614.4M | $716.0M | $628.2M | $611.4M | $608.1M | $674.7M | $558.8M |
| Sales, general & admin | $47.3M | $46.5M | $51.9M | $43.5M | $45.0M | $61.1M | $158.7M | $39.8M | $39.9M | $60.3M | $116.3M | $37.4M |
| Total operating expenses | $47.3M | $232.3M | −$1.01B | $28.3M | $223.1M | $225.7M | $335.9M | $325.5M | $306.6M | $272.3M | $341.2M | $259.0M |
| Operating income | $392.2M | $367.6M | $447.2M | $279.1M | $374.0M | $388.7M | $380.0M | $302.7M | $304.8M | $335.8M | $333.5M | $299.8M |
| Interest income | — | $39.5M | $38.6M | $43.6M | $42.0M | $39.0M | $34.7M | $34.9M | $31.2M | $23.6M | $22.2M | $22.1M |
| Interest expense | $159.5M | $159.9M | $426.3M | $749.8M | $157.9M | $153.7M | $149.6M | $153.9M | $148.0M | $143.6M | $140.2M | $131.1M |
| Income before taxes | −$783.8M | $263.2M | $371.1M | $124.8M | $274.4M | $293.9M | $283.8M | $213.8M | $205.3M | $230.8M | $231.7M | $205.8M |
| Income taxes | −$1.06B | $10.8M | $74.2M | −$53.2M | $11.6M | $9.0M | $6.0M | $10.9M | $9.8M | $6.7M | $4.3M | $6.9M |
| Net income | $263.5M | $241.0M | $283.5M | $169.9M | $249.7M | $270.9M | $262.5M | $192.8M | $185.9M | $213.1M | $216.1M | $188.3M |
| EBITDA | $522.3M | $608.9M | $977.4M | $1.05B | $609.5M | $553.3M | $552.0M | $588.5M | $571.5M | $547.8M | $553.0M | $521.3M |
| EPS (diluted) | $2.15 | $1.14 | $1.36 | $0.78 | $1.18 | $1.28 | $1.24 | $0.91 | $0.88 | $1.01 | $1.02 | $1.23 |
| Gross margin | 50.3% | 70.1% | −60.8% | 39.5% | 70.9% | 73.1% | 85.2% | 73.5% | 73.8% | 74.7% | 82.9% | 73.2% |
| Operating margin | 44.9% | 42.9% | 48.7% | 35.9% | 44.4% | 46.3% | 45.2% | 35.4% | 36.8% | 41.2% | 41.0% | 39.3% |
| Net margin | 30.1% | 28.2% | 30.9% | 21.9% | 29.7% | 32.2% | 31.2% | 22.6% | 22.5% | 26.2% | 26.6% | 24.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in EXR's financial statements (latest annual report filed February 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
EXR financial results
In fiscal year 2025 (ended December 31, 2025), Extra Space reported revenue of $3.4 billion, up 1.2% from the year before. It had net income of $974.0 million (up 14.0%), a net profit margin of 28.8%. Diluted earnings per share came to $4.60. Over five years revenue grew at an average rate of 19.6% a year.
See the EXR stock overview for the latest quote and news, or the EXR chart for price history and technical indicators.
EXR income statement FAQ
What is Extra Space's annual revenue?
Extra Space reported total revenue of $3.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 1.2% from $3.3 billion the previous year.
Is Extra Space profitable?
Yes. Extra Space reported net income of $974.0 million in fiscal 2025, a net profit margin of 28.8%; its operating margin was 44.1%.
What is Extra Space's gross margin?
Extra Space's gross margin was 28.4% in fiscal 2025: for every $100 of revenue, Extra Space kept $28 after the direct cost of its products and services.
How fast is Extra Space growing?
Revenue grew 19.6% a year on average over the last five fiscal years, from $1.4 billion to $3.4 billion.
What are Extra Space's earnings per share?
Extra Space earned $4.60 per diluted share in fiscal 2025, compared with $4.04 a year earlier.
When will Extra Space report its next earnings?
Extra Space is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Extra Space's fiscal year end?
Extra Space's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 20, 2026.