Extra Space Storage vs Smartstop Self Storage Reit
Extra Space Storage is the larger business, with $3.38bn of revenue in fiscal 2025 against $281m for Smartstop Self Storage Reit (12.0 times as much). Smartstop Self Storage Reit grew faster (18.6% against 3.7%). Extra Space Storage kept more of each dollar of sales as profit: a net margin of 28.8% against -3.1%. Extra Space Storage carries less debt relative to equity (11.1% against 93.6%).
| Latest fiscal year | Extra Space StorageEXR, 2025 | Smartstop Self Storage ReitSMA, 2025 |
|---|---|---|
| Revenue | $3.38bn | $281m |
| Revenue growth | 3.7% | 18.6% |
| Net income | $974m | −$8.8m |
| Operating margin | 41.8% | 21.0% |
| Net margin | 28.8% | -3.1% |
| Return on equity | 7.1% | -1.2% |
| Free cash flow | $1.29bn | $85.0m |
| Cash | $139m | $54.2m |
| Total debt | $1.49bn | $1.10bn |
| Debt to equity | 11.1% | 93.6% |
| Dividend per share | $6.48 | — |
| Dividend yield | 4.2% | 4.3% |
| Share buybacks | $150m | — |
| Employees | 8,012 | 1,000 |
| Market value | $32.50bn | $2.03bn |
| Price vs our value range | — | — |
| Moat score | 70 (Moderate) | 16 (Weak) |
| Insider trades, 12 months | 0 buys, 2 sales | 2 buys, 10 sales |