Extra Space Storage Inc (EXR) - Net Assets
Based on the latest financial reports, Extra Space Storage Inc (EXR) has net assets worth $14.32 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($29.26 Billion) and total liabilities ($14.94 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check EXR financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $14.32 Billion |
| % of Total Assets | 48.95% |
| Annual Growth Rate | 27.91% |
| 5-Year Change | 278.34% |
| 10-Year Change | 451.74% |
| Growth Volatility | 148.1 |
Extra Space Storage Inc - Net Assets Trend (2002–2025)
This chart illustrates how Extra Space Storage Inc's net assets have evolved over time, based on quarterly financial data. Also explore Extra Space Storage Inc total assets for the complete picture of this company's asset base.
Annual Net Assets for Extra Space Storage Inc (2002–2025)
The table below shows the annual net assets of Extra Space Storage Inc from 2002 to 2025. For live valuation and market cap data, see market value of Extra Space Storage Inc.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $14.32 Billion | -3.60% |
| 2024-12-31 | $14.86 Billion | -3.60% |
| 2023-12-31 | $15.41 Billion | +277.95% |
| 2022-12-31 | $4.08 Billion | +7.72% |
| 2021-12-31 | $3.79 Billion | +28.94% |
| 2020-12-31 | $2.94 Billion | +0.49% |
| 2019-12-31 | $2.92 Billion | +4.89% |
| 2018-12-31 | $2.79 Billion | +2.26% |
| 2017-12-31 | $2.72 Billion | +4.92% |
| 2016-12-31 | $2.60 Billion | +9.42% |
| 2015-12-31 | $2.37 Billion | +22.79% |
| 2014-12-31 | $1.93 Billion | +0.02% |
| 2013-12-31 | $1.93 Billion | +25.01% |
| 2012-12-31 | $1.55 Billion | +43.92% |
| 2011-12-31 | $1.07 Billion | +14.34% |
| 2010-12-31 | $939.07 Million | -0.76% |
| 2009-12-31 | $946.22 Million | +1.33% |
| 2008-12-31 | $933.76 Million | +36.33% |
| 2007-12-31 | $684.90 Million | +0.91% |
| 2006-12-31 | $678.71 Million | +31.44% |
| 2005-12-31 | $516.36 Million | +94.81% |
| 2004-12-31 | $265.06 Million | +692.38% |
| 2003-12-31 | $33.45 Million | -32.80% |
| 2002-12-31 | $49.78 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Extra Space Storage Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 144917200000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $2.11 Million | 0.02% |
| Other Comprehensive Income | $-420.00K | 0.00% |
| Other Components | $14.88 Billion | 110.78% |
| Total Equity | $13.43 Billion | 100.00% |
Extra Space Storage Inc Competitors by Market Cap
The table below lists competitors of Extra Space Storage Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
VICI Properties Inc
NYSE:VICI
|
$30.00 Billion |
|
BeiGene, Ltd.
NASDAQ:ONC
|
$30.02 Billion |
|
Alcon AG
SW:ALC
|
$30.03 Billion |
|
Otis Worldwide Corp
NYSE:OTIS
|
$30.04 Billion |
|
Prudential plc
F:PRU2
|
$29.96 Billion |
|
United Airlines Holdings Inc
NASDAQ:UAL
|
$29.95 Billion |
|
Iron Mountain Incorporated
NYSE:IRM
|
$29.90 Billion |
|
Shenzhen Mindray Bio-Medical Electronics Co Ltd Class A
SHE:300760
|
$29.88 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Extra Space Storage Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 13,947,535,000 to 13,433,166,000, a change of -514,369,000 (-3.7%).
- Net income of 973,999,000 contributed positively to equity growth.
- Dividend payments of 1,374,298,000 reduced retained earnings.
- Share repurchases of 149,548,000 reduced equity.
- Other comprehensive income decreased equity by 13,226,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $974.00 Million | +7.25% |
| Dividends Paid | $1.37 Billion | -10.23% |
| Share Repurchases | $149.55 Million | -1.11% |
| Other Comprehensive Income | $-13.23 Million | -0.1% |
| Other Changes | $48.70 Million | +0.36% |
| Total Change | $- | -3.69% |
Book Value vs Market Value Analysis
This analysis compares Extra Space Storage Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.24x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 18.92x to 2.24x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2002-12-31 | $7.51 | $142.02 | x |
| 2003-12-31 | $-1.23 | $142.02 | x |
| 2004-12-31 | $15.94 | $142.02 | x |
| 2005-12-31 | $13.53 | $142.02 | x |
| 2006-12-31 | $10.85 | $142.02 | x |
| 2007-12-31 | $8.79 | $142.02 | x |
| 2008-12-31 | $10.65 | $142.02 | x |
| 2009-12-31 | $9.71 | $142.02 | x |
| 2010-12-31 | $9.58 | $142.02 | x |
| 2011-12-31 | $11.11 | $142.02 | x |
| 2012-12-31 | $14.00 | $142.02 | x |
| 2013-12-31 | $15.74 | $142.02 | x |
| 2014-12-31 | $14.31 | $142.02 | x |
| 2015-12-31 | $16.46 | $142.02 | x |
| 2016-12-31 | $17.82 | $142.02 | x |
| 2017-12-31 | $17.52 | $142.02 | x |
| 2018-12-31 | $18.13 | $142.02 | x |
| 2019-12-31 | $18.62 | $142.02 | x |
| 2020-12-31 | $19.66 | $142.02 | x |
| 2021-12-31 | $27.04 | $142.02 | x |
| 2022-12-31 | $28.78 | $142.02 | x |
| 2023-12-31 | $85.04 | $142.02 | x |
| 2024-12-31 | $65.92 | $142.02 | x |
| 2025-12-31 | $63.41 | $142.02 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Extra Space Storage Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.25%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 28.84%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 2.18x
- Recent ROE (7.25%) is above the historical average (7.07%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | -34.68% | -30.24% | 0.09x | 12.08x | $-12.29 Million |
| 2003 | 0.00% | -50.55% | 0.12x | 0.00x | $-17.82 Million |
| 2004 | -7.58% | -27.99% | 0.09x | 3.07x | $-42.82 Million |
| 2005 | -1.03% | -3.69% | 0.09x | 2.96x | $-52.98 Million |
| 2006 | 2.31% | 7.54% | 0.12x | 2.59x | $-49.48 Million |
| 2007 | 5.82% | 15.11% | 0.12x | 3.31x | $-25.90 Million |
| 2008 | 5.37% | 17.16% | 0.12x | 2.63x | $-40.36 Million |
| 2009 | 3.62% | 11.40% | 0.12x | 2.72x | $-56.44 Million |
| 2010 | 2.99% | 9.35% | 0.13x | 2.55x | $-61.81 Million |
| 2011 | 4.70% | 15.30% | 0.13x | 2.34x | $-56.93 Million |
| 2012 | 7.86% | 27.91% | 0.13x | 2.16x | $-31.87 Million |
| 2013 | 9.79% | 32.33% | 0.13x | 2.26x | $-3.77 Million |
| 2014 | 10.27% | 27.12% | 0.15x | 2.55x | $4.61 Million |
| 2015 | 9.07% | 23.84% | 0.13x | 2.91x | $-19.43 Million |
| 2016 | 16.31% | 36.44% | 0.14x | 3.16x | $141.64 Million |
| 2017 | 20.38% | 42.76% | 0.15x | 3.17x | $243.94 Million |
| 2018 | 17.21% | 34.29% | 0.15x | 3.25x | $173.92 Million |
| 2019 | 16.53% | 31.82% | 0.15x | 3.36x | $165.97 Million |
| 2020 | 18.91% | 34.95% | 0.15x | 3.69x | $227.00 Million |
| 2021 | 21.86% | 51.42% | 0.15x | 2.77x | $449.05 Million |
| 2022 | 21.10% | 43.79% | 0.16x | 2.98x | $452.86 Million |
| 2023 | 5.58% | 30.71% | 0.10x | 1.91x | $-635.89 Million |
| 2024 | 6.13% | 25.61% | 0.12x | 2.07x | $-540.07 Million |
| 2025 | 7.25% | 28.84% | 0.12x | 2.18x | $-369.32 Million |
Industry Comparison
This section compares Extra Space Storage Inc's net assets metrics with peer companies in the REIT - Industrial industry.
Industry Context
- Industry: REIT - Industrial
- Average net assets among peers: $1,300,806,979
- Average return on equity (ROE) among peers: 1.85%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Extra Space Storage Inc (EXR) | $14.32 Billion | -34.68% | 1.04x | $29.99 Billion |
| Americold Realty Trust (COLD) | $185.87 Million | -0.33% | 11.88x | $3.44 Billion |
| CubeSmart (CUBE) | $1.04 Billion | 0.18% | 1.07x | $9.12 Billion |
| EastGroup Properties Inc (EGP) | $358.24 Million | 6.59% | 0.96x | $10.01 Billion |
| First Industrial Realty Trust Inc (FR) | $1.07 Billion | -0.69% | 1.49x | $7.81 Billion |
| Innovative Industrial Properties Inc (IIPR) | $1.96 Billion | 7.87% | 0.23x | $1.43 Billion |
| Industrial Logistics Properties Trust (ILPT) | $1.04 Billion | 11.53% | 0.84x | $375.26 Million |
| Lineage, Inc. Common Stock (LINE) | $4.54 Billion | -9.94% | 2.61x | $8.46 Billion |
| LXP Industrial Trust (LXP) | $1.51 Billion | 6.17% | 1.50x | $2.82 Billion |
| Modiv Inc (MDV) | $194.81K | -4.76% | 0.03x | $152.69 Million |
About Extra Space Storage Inc
Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2025, the Company owned and/or operated 4,281 self-storage stores in 43 states and Washington, D.C. The Company's stores comprise approximately 2.9 million units and approximately 330.4 million square feet of rentable space operating under t… Read more