What is Extra Space Storage's MI — debt?

Extra Space Storage (EXR) reported MI — debt of $0 in Q4 2025.

How has Extra Space Storage's MI — debt changed year-over-year?

Extra Space Storage's MI — debt decreased by 100.0% year-over-year, from $4.2M to $0.

What does MI — debt mean?

The total outstanding debt obligations directly attributable to the real estate assets located within the Michigan segment. This represents the leverage profile specifically associated with properties in this geographic market.

Extra Space Storage EXR MI — Debt

Other geography segments

$205.37M+1.3%

$196.26M+29.2%

$78.64M-0.1%

$72.64M+17.9%

$65.37M+1,921%

$60.58M-14.8%

$46.81M-40.6%

$45.28M+3.8%

$35.85M+126%

$33.8M+114%

$32.76M+106%

$31.39M+13.8%

$30.34M0.0%

$26.92M-30.6%

$20.51M-7.2%

$17.02M-43.4%

$16.48M-32.9%

$14.49M-37.8%

$10.14M-2.4%

$8.37M-67.6%

$7.38M-25.6%

$6.85M-4.9%

$5.96M-3.6%

$5.69M0.0%

$4.58M-3.2%

$3.46M-3.6%

$0—

Similar metrics at other companies

WELLMichigan — SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances

$51.75M—

LINEMichigan — SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances

$0—

MAAReal Estate — Liabilities

$15.1M-27.4%

PSADetroit — Encumbrances

$0—

RITMCommercial Real Estate — Debt

$3.96B—

OHIMI — Real Estate And Accumulated Depreciation Carrying Amount Of Land

$1.54M-6.1%

Other financials

Income statement

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Revenue$856.0M+4.4%

Gross profit$617.7M+3.6%

Operating income$367.6M-5.4%

Net income$241.0M-11.0%

EPS (diluted)$1.14-10.9%

Balance sheet

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Cash & equivalents$143.4M+16.5%

Total debt$769.7M+9.2%

Total equity$13.3B-4.0%

Total assets$29.1B+0.4%

Cash flow

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Operating cash flow$489.9M+1.8%

CapEx$7.2M-9.2%

Free cash flow$482.6M+1.9%

Valuation

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Market cap$30.7B-0.7%

Enterprise value$31.32B-0.6%

P/E32.5×+0.9×

P/S9×-0.4×

Profitability

See full

Gross margin72.7%-1.4pp

Operating margin40.8%-1.2pp

Net margin27.7%-0.2pp

FCF margin54.4%-3.2pp

Returns & leverage

See full

Return on equity6.9%+0.5pp

Debt / equity0.1×0.0×

Where this comes from

Reported directly by Extra Space Storage in its filing.

Tagged under the XBRL concept srt:RealEstateAndAccumulatedDepreciationAmountOfEncumbrances.

The official record: Extra Space Storage’s 10-K, filed February 20, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Extra Space Storage's MI — debt?: Extra Space Storage (EXR) reported MI — debt of $0 in Q4 2025.
How has Extra Space Storage's MI — debt changed year-over-year?: Extra Space Storage's MI — debt decreased by 100.0% year-over-year, from $4.2M to $0.
What does MI — debt mean?: The total outstanding debt obligations directly attributable to the real estate assets located within the Michigan segment. This represents the leverage profile specifically associated with properties in this geographic market.