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National Storage Affiliates NSA Business Segments — Net operating income

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Other financials

Income statement

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Revenue$185.4M-1.6%
Gross profit$133.4M+0.1%
Net income$17.8M+36.8%
EPS (diluted)$0.16+60.0%

Balance sheet

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Cash & equivalents$28.4M+40.6%
Total debt$3.7B-4.4%
Total equity$912.8M-11.7%
Total assets$5.0B-4.2%

Cash flow

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Operating cash flow$87.4M+2.1%
CapEx$10.5M+83.2%
Free cash flow$76.9M-3.7%

Valuation

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Market cap$3.47B-3.3%

Profitability

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Gross margin71.4%-0.8pp
Operating margin30.7%
Net margin10.5%+1.9pp
FCF margin39.6%-4.4pp

Returns & leverage

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Return on equity8.1%+2.4pp
Debt / equity+0.3×

Where this comes from

Reported directly by National Storage Affiliates in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The official record: National Storage Affiliates’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is National Storage Affiliates's business segments — net operating income?
National Storage Affiliates (NSA) reported business segments — net operating income of $121.77M in Q1 2026.
How has National Storage Affiliates's business segments — net operating income changed year-over-year?
National Storage Affiliates's business segments — net operating income increased by 0.5% year-over-year, from $121.12M to $121.77M.
What is the long-term trend for National Storage Affiliates's business segments — net operating income?
Over 3 years (2022 to 2025), National Storage Affiliates's business segments — net operating income has grown at a -4.7% compound annual growth rate (CAGR), from $562.92M to $486.85M.
What does business segments — net operating income mean?
Net operating income represents the profitability of the segment's real estate portfolio by subtracting property-level operating expenses from total rental and related revenues. It serves as a key indicator of the core operational efficiency and cash-generating capability of the self-storage properties before corporate-level costs and financing activities.