Extra Space Storage (EXR) FY2024 results: revenue $3.3 billion, up 27.2% on the year
Extra Space Storage Inc. (EXR) reported revenue of $3.3 billion for fiscal 2024, the year ended 31 December 2024, up 27.2% on the year before. Net income was $855 million, up 6.4%, and diluted earnings per share $4.03. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.
Revenue
$3.3 billion
+27.2% on the year
FY2017FY2024
Operating margin
40.6%
45.7% a year earlier
FY2017FY2024
Net income
$855 million
+6.4% on the year
FY2017FY2024
Diluted EPS
$4.03
-15.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,887
1,402
1,238
+34.6%
Capital expenditure
479
136
1,193
+253.3%
Free cash flow
1,408
1,267
44.9
+11.2%
Free cash flow margin
43.2%
49.5%
2.3%
Cash from investing
-1,647
-1,818
-1,648
Cash from financing
-202
423
432
Depreciation and amortisation
783
506
288
+54.7%
Share-based compensation
29.0
26.5
21.4
+9.5%
Buybacks
0.0
0.0
63.0
Dividends paid
1,375
1,046
805
+31.4%
Dividend per share
$6.48
$6.48
$6.00
0.0%
Diluted shares, weighted
212m
169m
142m
+25.0%
Shares outstanding at period end
212m
211m
134m
+0.3%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
13,948
14,391
3,260
-3.1%
Non-controlling interest
912
1,023
819
-10.9%
Debt
12,322
11,017
7,331
+11.8%
Other liabilities
1,667
1,026
758
+62.5%
Total liabilities and equity
28,848
27,456
12,167
+5.1%
Fixed assets
50.4
48.7
42.8
+3.4%
Goodwill
171
171
171
0.0%
Intangible assets
32.2
66.3
0.0
-51.4%
Cash and equivalents
138
99.1
92.9
+39.5%
Other assets
28,456
27,071
11,861
+5.1%
Total assets
28,848
27,456
12,167
+5.1%
10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.