EXR Extra Space Storage
FY2025 10-K
Extra Space Storage (EXR) filed its fiscal year 2025 10-K annual report with the SEC on Feb 20, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Fully integrated self-administered REIT owning/managing 4,281 self-storage stores totaling 330.4 million square feet as of Dec 31, 2025
- • Emphasis on growth of management services: 1,856 third-party managed stores expanding footprint and low capital requirement
Management Discussion & Analysis
- • Revenue $3,378M, up 3.7% YoY; property rental revenue $2,895M (+3.3% YoY), tenant reinsurance $353M (+6.0% YoY), management fees $129M (+7.1% YoY)
- • Operating expenses $1,889M (+1.8% YoY); net income $974M vs $855M; Funds from Operations (FFO) $1,753M vs $1,677M; same-store NOI $1,885M (-1.7%)
Risk Factors
- • Tenant reinsurance business regulatory risk: potential suspension or fines from broad discretion of state/federal insurance regulators
- • Macroeconomic exposure: rising interest rates and housing market downturns reducing demand for rental space in operated markets
Financial SummaryXBRL
Revenue
$129M
Net Income
$974M
Operating Margin
1091.1%
Net Margin
752.3%
ROE
7.3%
Total Assets
$29.3B
EPS (Diluted)
$4.59
Operating Cash Flow
$1.9B
Source: XBRL data from Extra Space Storage FY2025 10-K filing on SEC EDGAR. All figures in USD.
Other Extra Space Storage Annual Reports
Get deeper insights on Extra Space Storage
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.