Extra Space Storage (EXR) FY2015 results: revenue $782 million, up 20.9% on the year
Extra Space Storage Inc. (EXR) reported revenue of $782 million for fiscal 2015, the year ended 31 December 2015, up 20.9% on the year before. Net income was $189 million, up 6.2%, and diluted earnings per share $1.56. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$782 million
+20.9% on the year
FY2008FY2015
Operating margin
37.7%
43.0% a year earlier
FY2008FY2015
Net income
$189 million
+6.2% on the year
FY2008FY2015
Diluted EPS
$1.56
+2.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
782
647
521
+20.9%
Cost of revenue
204
172
140
+18.3%
Gross profit
578
475
381
+21.8%
Gross margin
73.9%
73.4%
73.1%
Operating income
295
278
213
+5.8%
Operating margin
37.7%
43.0%
41.0%
Interest expense
95.7
81.3
71.6
+17.6%
Pre-tax income
205
189
138
+8.8%
Income tax
11.1
7.6
10.0
+47.3%
Effective tax rate
5.4%
4.0%
7.2%
Net income
189
178
172
+6.2%
Net margin
24.2%
27.6%
33.1%
Diluted EPS
$1.56
$1.53
$1.53
+2.0%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
367
338
271
+8.8%
Capital expenditure
26.9
23.5
6.5
+14.5%
Free cash flow
340
314
265
+8.4%
Free cash flow margin
43.5%
48.5%
50.9%
Cash from investing
-1,626
-565
n/a
Cash from financing
1,286
148
n/a
+767.4%
Depreciation and amortisation
133
115
95.2
+16.0%
Share-based compensation
6.1
5.0
4.8
+21.5%
Dividends paid
269
210
163
+28.2%
Dividend per share
$2.24
$1.81
$1.45
+23.8%
Diluted shares, weighted
127m
121m
113m
+4.5%
Shares outstanding at period end
124m
116m
116m
+6.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,089
1,737
1,758
+20.2%
Non-controlling interest
284
175
173
+62.4%
Debt
3,536
2,350
1,958
+50.5%
Other liabilities
163
120
87.1
+35.7%
Total liabilities and equity
6,071
4,382
3,977
+38.6%
Cash and equivalents
75.8
47.7
127
+59.0%
Other assets
5,996
4,334
3,850
+38.3%
Total assets
6,071
4,382
3,977
+38.6%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.