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Screener / SEC EDGAR /CIK 0001289490 /10-K filed Feb 20, 2026, compared with Feb 28, 2025 /Numbers from the XBRL of the 10-Ks
Real estate peers:
INVHCSGPDOCCCIEXRBXP
NYSE Real estate · REIT

Extra Space Storage EXR

EXR quote by TradingView

Extra Space Storage Inc. (“we,” “our,” “us” or the “Company”) is a fully integrated, self-administered and self-managed real estate investment trust (“REIT”) formed as a Maryland corporation on April 30, 2004. 10-K, Item 1

Employees
8,393
Headquarters
Salt Lake City, UT
CEO
Joseph D. Margolis
Next results
around Feb 18, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $3.4B through the costs to a net profit of $974.0M · income statement of the 10-K

42% operating margin
Revenue to Gross profit: $2.5BRevenue to Cost of revenue: $918.1MGross profit to Operating profit: $1.4BGross profit to Operating expenses: $1.0BOperating profit to Net profit: $974.0MOperating profit to Tax & other: $438.7M Revenue: $3.4B REVENUE $3.4B +4% Y/Y Gross profit: $2.5B · 73% margin GROSS PROFIT $2.5B 73% margin Cost of revenue: $918.1M · 27% of revenue COST OF REVENUE $918.1M 27% of revenue Operating profit: $1.4B · 42% margin OPERATING PROFIT $1.4B 42% margin · +7% Y/Y Operating expenses: $1.0B · 31% of revenue OPERATING EXPENSES $1.0B 31% of revenue Net profit: $974.0M · 29% margin NET PROFIT $974.0M 29% margin · +14% Y/Y Tax & other: $438.7M · 13% of revenue TAX & OTHER $438.7M 13% of revenue
Gross profit $2.5B 73% margin
Operating profit $1.4B 42% margin · +7% Y/Y
Net profit $974.0M 29% margin · +14% Y/Y
The full income statement, year by year

EXR among Real estate peers

Six ratios from the latest 10-K. Each corner is the share of 28 peers the company is above, not a score.

Compare
Revenue growth: 3.7%, above 29% of 28 peers (their median 5.2%) REVENUE GROWTH 3.7% · above 29% Operating margin: 43.8%, above 53% of 17 peers (their median 36.0%) OPERATING MARGIN 43.8% · above 53% Net margin: 29.9%, above 64% of 28 peers (their median 21.6%) NET MARGIN 29.9% · above 64% FCF margin: 44.7%, above 82% of 11 peers (their median 12.3%) FCF MARGIN 44.7% · above 82% Return on capital: 10.5%, above 90% of 10 peers (their median 5.4%) RETURN ON CAPITAL 10.5% · above 90%
EXR Peer median Below the median

What changed

6 new risk paragraphs. 10-K filed Feb 20, 2026 against Feb 28, 2025.

Risk factors
6 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
10 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

10 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 10 checks found nothing to note

  • Receivables +9.5% vs revenue +3.7% (+5.8 pts)
  • Cash from operations $1.9B vs net income $974.0M (FY ending Dec 31, 2025)
  • Same auditor in both 10-Ks: Ernst & Young LLP
7 more checks with nothing to note
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Purchase Price Allocation
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

6 paragraphs in Risk Factors that were not in the 10-K filed Feb 28, 2025. Quoted as filed.

All 6 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
    The use of, or inability to take advantage of the benefits of, artificial intelligence by us presents risks and challenges that may adversely impact our business and operating results or may adversely impact the demand for storage with the Company. We have begun and may continue to use artificial intelligence and machine learning…

New risk paragraphs, against peers

Latest 10-K of each, Real estate companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$1.9B$2.6B$3.3B$3.4B
Net income$860.7M$803.2M$854.7M$974.0M
Operating cash flow$1.2B$1.4B$1.9B$1.9B
Free cash flow$44.9M$1.3B$1.4B$1.3B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$3.4B ▲ 3.7% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Extra Space Storage, Salt Lake City, UT · from the 10-K filed Feb 20, 2026

Extra Space Storage Inc. (“we,” “our,” “us” or the “Company”) is a fully integrated, self-administered and self-managed real estate investment trust (“REIT”) formed as a Maryland corporation on April 30, 2004. We closed our initial public offering (“IPO”) on August 17, 2004. Our common stock is traded on the New York Stock Exchange under the symbol “EXR.” We were formed to continue the business of Extra Space Storage LLC and its subsidiaries, which had engaged in the self-storage business since 1977. These companies were reorganized after the consummation of our IPO and various formation transactions.

Headquarters
Salt Lake City, UT
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 27, 2026
Incorporated in
MD

Employees, at the top of the page: "As of December 31, 2025, we had 8,393 employees and believe our relationship with our employees is good" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Feb 20, 2026 (open at SEC), compared with the 10-K filed Feb 28, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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