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Extra Space Storage EXR Operating margin

Operating margin at other companies

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47.5%-1.0pp

Other financials

Income statement

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Revenue$856.0M+4.4%
Gross profit$617.7M+3.6%
Operating income$367.6M-5.5%
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$30.4B-12.0%
Enterprise value$31.03B-11.7%
P/E32.2×-5.7×
P/S8.9×-1.6×

Profitability

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Gross margin72.7%-1.4pp
Net margin27.7%-0.2pp

Returns & leverage

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Return on equity6.9%+0.5pp
Debt / equity0.1×0.0×

Where this comes from

Calculated from Extra Space Storage’s reported figures.

Based on trailing twelve months.

The official record: Extra Space Storage’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Extra Space Storage's operating margin?
Extra Space Storage (EXR) reported operating margin of 40.8% in Q1 2026.
How has Extra Space Storage's operating margin changed year-over-year?
Extra Space Storage's operating margin decreased by 2.9% year-over-year, from 42% to 40.8%.
What is the long-term trend for Extra Space Storage's operating margin?
Over 4 years (2021 to 2025), Extra Space Storage's operating margin has grown at a -7.2% compound annual growth rate (CAGR), from 228.9% to 170.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.