Extra Space Storage (EXR) 10-K Summary — Year Ended Dec 31, 2024
Extra Space Storage Inc. filed its annual report. The filing includes a business overview, risk factors, and management discussion of financial results.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
Extra Space Storage Inc. filed its annual report. The filing includes a business overview, risk factors, and management discussion of financial results.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$120.9M
Revenue reported for the fiscal year.
Operating income
$1.3B
Income from operations reported for the year.
Net income
$854.7M
Net income reported for the year.
Operating cash flow
$1.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $66.3M | n/a |
| Dec 31, 2022 | $83.9M | +26.6% |
| Dec 31, 2023 | $102M | +21.6% |
| Dec 31, 2024 | $120.9M | +18.5% |
Business overview
The company is a real estate investment trust that acquires and operates self-storage properties. It manages its stores and may refinance or leverage acquisitions.
Financial performance
Revenue has grown over the recent periods. The company reported operating income, net income, and operating cash flow for the latest annual period. These metrics indicate the financial direction for the year.
Material risks
The filing lists risk factors under Item 1A, but no specific risks are described in the provided context. The company's risk factors are referenced but not detailed in the supplied excerpt.
Liquidity and capital
The company intends to use leverage in its capital structure, considering various factors such as interest rates, flexibility, and debt service coverage. Indebtedness may be secured or unsecured, recourse or non-recourse, and may involve cross-collateralization.
What to watch
Investors should monitor the company's debt maturity schedule and refinancing activities in the next filing.