Extra Space Storage Inc（EXR）の決算・業績分析
Extra Space Storage Incの2025年有価証券報告書をAI分析。売上高$129M(+7.1%)。営業利益$1.4B。Real Estate。
目次
Extra Space Storage Incの2025年度 業績サマリー
Extra Space Storage Inc（証券コード: EXR）の2025年度決算・業績分析。売上高は$129M（前年比+7.1%）。営業利益は$1.4B（前年比+6.8%）。純利益は$974M（前年比+14.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Extra Space Storage Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue surged 26.6% YoY to $84M (XBRL), driven by leasing efficiency and rental rate management.
- Operating income rose 7.6% YoY to $1.1B (XBRL), with an extraordinary operating margin of 1251.9% (XBRL).
- Net income grew 4.0% YoY to $861M (XBRL), supported by strong profitability and a 1025.8% net margin (XBRL).
- Shareholder returns totaled $868M (XBRL), including $805M in dividends and $63M in share repurchases.
Extra Space Storage Incの売上高変化の要因
- •Total revenue reached $84M (XBRL), reflecting a 26.6% YoY increase. Growth was driven by leasing available units, revenue management systems, and tenant payment reliability (10-K). While self-storage operations and tenant reinsurance are identified as revenue segments (10-K), segment-specific revenue figures are not disclosed (XBRL). Historical data shows a 5-year revenue CAGR of 19.6% (XBRL), with FY2024 revenue surpassing $102M (XBRL) in the provided time series.
Extra Space Storage Incの営業利益変化の要因
- •Operating income increased 7.6% YoY to $1.1B (XBRL), with an operating margin of 1251.9% (XBRL). Net income rose 4.0% YoY to $861M (XBRL), translating to a net margin of 1025.8% (XBRL). Gross profit data is unavailable (XBRL). Efficiency metrics show an asset turnover of 0.00x (XBRL), suggesting underutilization of assets, though this may reflect the nature of long-term real estate investments.
Extra Space Storage Incの事業リスクと対応
Real estate market risks, including economic downturns, unemployment, or natural disasters, could reduce occupancy and rental rates (10-K).
Difficulty re-leasing units quickly or at expected rates may harm revenue (10-K).
Uninsured losses or rising insurance deductibles could threaten financial stability (10-K).
Legal disputes and settlement costs may impact operating results (10-K).
Regulatory scrutiny of tenant reinsurance operations risks fines or operational restrictions (10-K).
Extra Space Storage Incの今後の見通し・業績予想
Extra Space Storage Incの事業内容
Extra Space Storage Inc. (EXR) operates a self-storage business, generating revenue through rental income, tenant reinsurance, management fees, and bridge lending (10-K). Key products include storage unit rentals, reinsurance of tenant goods, third-party store management, and financing for self-storage owners (10-K). Competitive advantages include economies of scale from managing 4,011 stores, advanced technology systems, and a bridge lending program (10-K). No significant customer concentration or explicit competitors are mentioned (10-K).
Extra Space Storage IncのAI業績分析レポート（2024年度）
Extra Space Storage Inc. (EXR) FY2024 Annual Report Analysis
Highlights
Business Overview
Extra Space Storage Inc. operates a self-storage business, generating revenue through rental income, tenant reinsurance, management fees, and bridge lending (10-K). Key products include storage unit rentals, reinsurance of tenant goods, third-party store management, and financing for self-storage owners (10-K). Competitive advantages include economies of scale from managing 4,011 stores, advanced technology systems, and a bridge lending program (10-K). No significant customer concentration or explicit competitors are mentioned (10-K).
Revenue Analysis
Total revenue reached $84M (XBRL), reflecting a 26.6% YoY increase. Growth was driven by leasing available units, revenue management systems, and tenant payment reliability (10-K). While self-storage operations and tenant reinsurance are identified as revenue segments (10-K), segment-specific revenue figures are not disclosed (XBRL). Historical data shows a 5-year revenue CAGR of 19.6% (XBRL), with FY2024 revenue surpassing $102M (XBRL) in the provided time series.
Profitability Analysis
Operating income increased 7.6% YoY to $1.1B (XBRL), with an operating margin of 1251.9% (XBRL). Net income rose 4.0% YoY to $861M (XBRL), translating to a net margin of 1025.8% (XBRL). Gross profit data is unavailable (XBRL). Efficiency metrics show an asset turnover of 0.00x (XBRL), suggesting underutilization of assets, though this may reflect the nature of long-term real estate investments.
Balance Sheet Analysis
Equity rose to 52.4% (XBRL), with a debt-to-equity ratio of 0.84x (XBRL). Total assets grew from $8.5B in FY2020 (XBRL) to $27.5B in FY2024 (XBRL). Cash reserves stood at $71M (XBRL). No details on long-term debt, geographic asset distribution, or credit facilities are provided (XBRL).
Cash Flow Analysis
Operating cash flow reached $1.2B (XBRL), but free cash flow was negative at $-410M (XBRL). Investing cash flow totaled $-1.6B (XBRL), likely reflecting capital expenditures or acquisitions (though specific details are not disclosed). Financing cash flow was $432M (XBRL), driven by $805M in dividends paid (XBRL) and $63M in share repurchases (XBRL).
Working Capital Analysis
Receivables Days: 586 days (XBRL). Asset Turnover: 0.00x (XBRL). No data on inventory or payables days is available (XBRL).
Risks
Outlook
Management highlights competitive markets, seasonal occupancy fluctuations, and reliance on revenue management systems as key trends impacting future results (10-K). Historical revenue growth suggests continued expansion, with FY2025 revenue projected at $102M (XBRL). Economic conditions and tenant payment reliability remain critical factors (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 42M | 50M | 52M | 66M | 84M | 102M |
| Operating Income | 620M | 635M | 666M | 976M | 1.1B | 1.2B |
| Net Income | 415M | 420M | 482M | 828M | 861M | 803M |
| Total Assets | 8.5B | 9.4B | 10.5B | 12.2B | 27.5B | 28.8B |
| Total Equity | 2.5B | 2.5B | 3.1B | 3.3B | 14.4B | 13.9B |
| Operating Cash Flow | 678M | 708M | 771M | 952M | 1.2B | 1.4B |
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