Extra Space Storage (EXR) FY2022 results: revenue $1.9 billion, up 22.0% on the year
Extra Space Storage Inc. (EXR) reported revenue of $1.9 billion for fiscal 2022, the year ended 31 December 2022, up 22.0% on the year before. Net income was $861 million, up 4.0%, and diluted earnings per share $6.41. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2023.
Revenue
$1.9 billion
+22.0% on the year
FY2015FY2022
Operating margin
54.6%
61.9% a year earlier
FY2015FY2022
Net income
$861 million
+4.0% on the year
FY2015FY2022
Diluted EPS
$6.41
+3.6% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
1,238
952
771
+30.0%
Capital expenditure
1,193
56.2
67.3
+2,022.3%
Free cash flow
44.9
896
704
-95.0%
Free cash flow margin
2.3%
56.8%
51.9%
Cash from investing
-1,648
-838
-955
Cash from financing
432
-167
241
Depreciation and amortisation
288
242
n/a
+19.2%
Share-based compensation
21.4
17.3
16.3
+23.6%
Buybacks
63.0
0.0
67.9
Dividends paid
805
601
468
+34.0%
Dividend per share
$6.00
$4.50
$0.90
+33.3%
Diluted shares, weighted
142m
140m
130m
+1.2%
Shares outstanding at period end
134m
134m
131m
-0.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
3,260
3,116
2,548
+4.6%
Non-controlling interest
819
669
388
+22.3%
Debt
7,331
5,958
5,746
+23.1%
Other liabilities
758
731
713
+3.7%
Total liabilities and equity
12,167
10,474
9,396
+16.2%
Fixed assets
42.8
29.1
n/a
+47.3%
Goodwill
171
0.0
n/a
Intangible assets
0.0
n/a
n/a
Cash and equivalents
92.9
71.1
109
+30.6%
Other assets
11,861
10,374
9,287
+14.3%
Total assets
12,167
10,474
9,396
+16.2%
10-K for the year ended 31 December 2022, filed 28 February 2023: the filing.