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Extra Space Storage Income Statement

Revenue, expenses, and profitability over time

Extra Space Storage generated $3.4B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $944.1M with a 27.66% net margin. Gross margin stands at 72.67% and operating margin at 40.76%. Diluted EPS is $4.46, which grew 0.0% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$3.4BGross Profit (TTM)$2.5BOperating Income (TTM)$1.4BNet Income (TTM)$944.1MEps Diluted (TTM)$4.46
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$31.7B
P/E Ratio33.62
ROE6.94%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$196.2M$180.4M$177.3M$177.5M$180.1M$185.8M
General and administrative$44M$46M$45M$43.5M$51.9M$46.5M
Tenant reinsurance$18.2M$17.1M$16.9M$17.8M$17M$17.9M
Total operating expenses$479.6M$467M$466.8M$474.2M$480.5M$488.5M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$1.24$1.28$1.18$0.78$1.36$1.14
Diluted earnings per share$1.24$1.28$1.18$0.78$1.36$1.14
Weighted-average shares, basic211.6M211.9M211.9M212M211.9M210.9M
Weighted-average shares, diluted211.6M212.1M211.9M221.3M211.9M220.3M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments$18.8M$19.9M$16.3M$15.7M$16.9M$15.8M
Interest income$34.7M$39M$42M$43.6M$38.6M$39.5M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$600.8M$596.4M$614M$623M$626M$617.7M
Operating income$380M$388.7M$374M$279.1M$370.9M$367.6M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$265.1M$274M$258.1M$161M$247.7M$247.2M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$6M$9M$11.6M$12M$9M$10.8M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$262.5M$270.9M$249.7M$166M$287.4M$241M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization Of Debt Discount Premium$11.2M$11.3M$11.8M$12.1M$12.4M$12.6M
Cash dividend per common share (in dollars per share)—$1.62$1.62$1.62—$1.62
Direct premiums earned$83.7M$84.7M$88.6M$90.3M$89.3M$89.1M
Equity in earnings of unconsolidated real estate ventures - gain on sale of a joint venture interest—$0———$207K
Gain on real estate assets held for sale and sold, net—$35.8M-$864K-$105.1M-$6.1M$0
Interest Expense, Excluding Amortization Of Debt Discount (Premium)$138.5M$142.4M$146.1M$149.7M$149.4M$147.3M
Lease Income$707.2M$704.4M$721M$735.6M$734.2M$733.2M
Minority Interest In Net Income Loss Operating Partnerships And Other$14.1M$13.3M$12.3M$7.3M$12.7M$10.8M
Noncontrolling Interest in Net Income (Loss) Preferred Unit Holders, Redeemable$1.2M$724K$723K$724K$723K$673K
Revenue From Contract With Customer Excluding Assessed Tax$31M$30.9M$32M$32.5M$34M$33.7M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$221.1M$223.6M$227.6M$235.5M$231.5M$238.3M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$821.9M$820M$841.6M$858.5M$857.5M$856M