Extra Space Storage (EXR) FY2013 results: revenue $521 million, up 27.2% on the year
Extra Space Storage Inc. (EXR) reported revenue of $521 million for fiscal 2013, the year ended 31 December 2013, up 27.2% on the year before. Net income was $172 million, up 46.7%, and diluted earnings per share $1.53. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$521 million
+27.2% on the year
FY2008FY2013
Operating margin
41.0%
38.4% a year earlier
FY2008FY2013
Net income
$172 million
+46.7% on the year
FY2008FY2013
Diluted EPS
$1.53
+34.2% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
521
409
330
+27.2%
Cost of revenue
140
114
95.5
+22.8%
Gross profit
381
295
234
+28.9%
Gross margin
73.1%
72.1%
71.1%
Operating income
213
157
115
+35.8%
Operating margin
41.0%
38.4%
35.0%
Interest expense
71.6
71.8
67.3
-0.3%
Pre-tax income
138
91.6
52.3
+50.5%
Income tax
10.0
5.4
1.2
+84.4%
Effective tax rate
7.2%
5.9%
2.2%
Net income
172
117
50.4
+46.7%
Net margin
33.1%
28.7%
15.3%
Diluted EPS
$1.53
$1.14
$0.54
+34.2%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
271
216
144
+25.7%
Capital expenditure
6.5
3.8
n/a
+72.0%
Free cash flow
265
212
n/a
+24.8%
Free cash flow margin
50.9%
51.8%
n/a
Depreciation and amortisation
95.2
74.5
58.0
+27.9%
Share-based compensation
4.8
4.4
5.8
+10.6%
Dividends paid
163
88.3
52.0
+84.6%
Dividend per share
$1.45
$0.85
$0.56
+70.6%
Diluted shares, weighted
113m
107m
97m
+6.2%
Shares outstanding at period end
116m
111m
95m
+4.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,758
1,492
1,019
+17.9%
Non-controlling interest
173
53.5
54.8
+224.0%
Debt
1,958
1,574
1,359
+24.4%
Other liabilities
87.1
104
83.2
-16.2%
Total liabilities and equity
3,977
3,223
2,516
+23.4%
Cash and equivalents
127
30.8
26.5
+311.6%
Other assets
3,850
3,193
2,490
+20.6%
Total assets
3,977
3,223
2,516
+23.4%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.