Extra Space Storage (EXR) FY2017 results: revenue $1.1 billion, up 11.4% on the year
Extra Space Storage Inc. (EXR) reported revenue of $1.1 billion for fiscal 2017, the year ended 31 December 2017, up 11.4% on the year before. Net income was $479 million, up 30.8%, and diluted earnings per share $3.76. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$1.1 billion
+11.4% on the year
FY2010FY2017
Operating margin
59.2%
46.2% a year earlier
FY2010FY2017
Net income
$479 million
+30.8% on the year
FY2010FY2017
Diluted EPS
$3.76
+29.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,105
992
782
+11.4%
Cost of revenue
272
250
204
+8.8%
Gross profit
833
742
578
+12.3%
Gross margin
75.4%
74.8%
73.9%
Operating income
654
458
295
+42.8%
Operating margin
59.2%
46.2%
37.7%
Interest expense
154
133
95.7
+15.0%
Pre-tax income
503
331
205
+51.9%
Income tax
3.6
15.8
11.1
-77.1%
Effective tax rate
0.7%
4.8%
5.4%
Net income
479
366
189
+30.8%
Net margin
43.3%
36.9%
24.2%
Diluted EPS
$3.76
$2.91
$1.56
+29.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
597
539
367
+10.8%
Capital expenditure
31.7
23.3
26.9
+36.4%
Free cash flow
566
516
340
+9.6%
Free cash flow margin
51.2%
52.0%
43.5%
Cash from investing
-353
-1,049
-1,626
Cash from financing
-216
461
1,286
Depreciation and amortisation
193
183
133
+5.9%
Share-based compensation
9.6
8.0
6.1
+18.8%
Dividends paid
393
368
269
+6.9%
Dividend per share
$3.12
$2.93
$2.24
+6.5%
Diluted shares, weighted
134m
126m
127m
+6.5%
Shares outstanding at period end
126m
126m
124m
+0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,351
2,245
2,089
+4.7%
Non-controlling interest
373
351
284
+6.2%
Debt
4,554
4,306
3,536
+5.8%
Other liabilities
177
189
163
-6.3%
Total liabilities and equity
7,455
7,091
6,071
+5.1%
Cash and equivalents
55.7
43.9
75.8
+27.0%
Other assets
7,399
7,048
5,996
+5.0%
Total assets
7,455
7,091
6,071
+5.1%
10-K for the year ended 31 December 2017, filed 26 February 2019: the filing.