Extra Space Storage Inc. (EXR) closed fiscal year 2025 with a gross margin of 72.8 % and a net margin of 28.8 %.
Extra Space Storage Inc. (EXR) closed fiscal year 2025 with a gross margin of 72.8 % and a net margin of 28.8 %. The same year shows an EBITDA margin of 63.0 % and an EBIT margin of 41.8 %. The free cash flow margin was 38.1 %. Against the previous year the gross margin moved −1.7 pp and the net margin +2.6 pp. Across the period the gross margin ranges between 68.3 % in 2009 and 77.4 % in 2022. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 69.01 % | 68.25 % | 69.39 % | 71.05 % | 72.15 % | 73.11 % | 73.36 % | 73.93 % | 74.79 % | — | 75.62 % | 74.32 % | 73.41 % | — | 77.38 % | 76.09 % | 74.47 % | 72.82 % |
| EBITDA margin (%) | 52.08 % | 44.37 % | 50.15 % | 52.60 % | 56.59 % | 59.30 % | 60.81 % | 54.73 % | 64.61 % | 76.71 % | 69.26 % | 65.33 % | 65.83 % | 77.21 % | 69.57 % | 65.47 % | 64.67 % | 63.00 % |
| EBIT margin (%) | 33.90 % | 25.66 % | 32.26 % | 35.01 % | 38.41 % | 41.01 % | 43.03 % | 37.67 % | 46.21 % | 59.22 % | 51.79 % | 48.53 % | 49.12 % | 61.87 % | 54.59 % | 45.70 % | 40.63 % | 41.83 % |
| Net margin (%) | 13.12 % | 11.41 % | 9.35 % | 15.30 % | 28.65 % | 33.05 % | 27.56 % | 24.22 % | 36.91 % | 43.35 % | 34.71 % | 32.10 % | 35.52 % | 52.47 % | 44.73 % | 31.37 % | 26.24 % | 28.84 % |
| FCF margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 2.33 % | 49.48 % | 43.24 % | 38.15 % |
