Extra Space Storage (EXR) FY2012 results: revenue $409 million, up 24.1% on the year
Extra Space Storage Inc. (EXR) reported revenue of $409 million for fiscal 2012, the year ended 31 December 2012, up 24.1% on the year before. Net income was $117 million, up 132.5%, and diluted earnings per share $1.14. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$409 million
+24.1% on the year
FY2008FY2012
Operating margin
38.4%
35.0% a year earlier
FY2008FY2012
Net income
$117 million
+132.5% on the year
FY2008FY2012
Diluted EPS
$1.14
+111.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
409
330
281
+24.1%
Cost of revenue
114
95.5
86.2
+19.4%
Gross profit
295
234
195
+26.0%
Gross margin
72.1%
71.1%
69.4%
Operating income
157
115
90.8
+36.2%
Operating margin
38.4%
35.0%
32.3%
Interest expense
71.8
67.3
64.1
+6.8%
Pre-tax income
91.6
52.3
30.8
+75.2%
Income tax
5.4
1.2
4.2
+368.7%
Effective tax rate
5.9%
2.2%
13.5%
Net income
117
50.4
26.3
+132.5%
Net margin
28.7%
15.3%
9.4%
Diluted EPS
$1.14
$0.54
$0.30
+111.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
216
144
105
+49.7%
Capital expenditure
3.8
n/a
n/a
Free cash flow
212
n/a
n/a
Free cash flow margin
51.8%
n/a
n/a
Cash from investing
n/a
n/a
-83.7
Cash from financing
n/a
n/a
-106
Depreciation and amortisation
74.5
58.0
50.3
+28.3%
Share-based compensation
4.4
5.8
4.6
-24.3%
Dividends paid
88.3
52.0
35.0
+69.7%
Dividend per share
$0.85
$0.56
$0.40
+51.8%
Diluted shares, weighted
107m
97m
92m
+10.2%
Shares outstanding at period end
111m
95m
88m
+16.8%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,492
1,019
881
+46.4%
Non-controlling interest
53.5
54.8
57.7
-2.4%
Debt
1,574
1,359
1,249
+15.8%
Other liabilities
104
83.2
60.3
+24.8%
Total liabilities and equity
3,223
2,516
2,248
+28.1%
Cash and equivalents
30.8
26.5
46.8
+16.2%
Other assets
3,193
2,490
2,202
+28.2%
Total assets
3,223
2,516
2,248
+28.1%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.