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IntroductionThe concept of valuationRevenue and revenue growthVariable costsFixed costsProduction assets

Intrinsic value of Extra Space Storage Inc (EXR)

Previous Close$197.22
Intrinsic Value$41.38*
Upside potential  -79%
Previous Close
$197.22
Intrinsic Value
$41.38*
Potential        
-79%
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh41.38 41.38

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, D.C. and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %12.0NaN
Revenue, $1577NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m601NaN
Operating income, $m976NaN
EBITDA, $m1228NaN
Interest expense (income), $mNaN
Earnings before tax, $m817NaN
Tax expense, $m20NaN
Net income, $m797NaN

BALANCE SHEET

Cash and short-term investments, $m76NaN
Total assets, $m10474NaN
Adjusted assets (=assets-cash), $m10398NaN
Average production assets, $m240NaN
Working capital, $m-66NaN
Total debt, $m6316NaN
Total liabilities, $m7358NaN
Total equity, $m3116NaN
Debt-to-equity ratio2.027NaN
Adjusted equity ratio0.323NaN

CASH FLOW

Net income, $m797NaN
Depreciation, amort., depletion, $m252NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m952NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-720NaN
Free cash flow, $m1673NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-66
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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