Question 1

What is Extra Space Storage's P/B ratio?

Accepted Answer

Extra Space Storage (EXR) P/B ratio is 2.4× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Extra Space Storage?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Extra Space Storage specifically, the relevant sector benchmark is the current sector median of 2.1×.

Question 5

Is Extra Space Storage's P/B ratio high or low?

Accepted Answer

Extra Space Storage's P/B ratio of 2.4× is below its own 5-year average of 4.6× and above the sector median of 2.1×. That places the current reading at the 39th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Extra Space Storage's historical P/B ratio range?

Accepted Answer

In the available daily series, Extra Space Storage (EXR) P/B ratio has ranged from a low of 0.5× in 2009 to a high of 10.6× in 2021. The 5-year average is 4.6× and the 5-year median is 2.5×.

Question 7

What was Extra Space Storage's P/B ratio in 2025?

Accepted Answer

Extra Space Storage (EXR) P/B ratio at the end of 2025 was 2.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Extra Space Storage's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$27.56B	$13.43B	2.1×	-0.2×	Dec 31, 2025
2024	$31.68B	$13.95B	2.3×	-0.1×	Dec 31, 2024
2023	$33.84B	$14.39B	2.4×	-3.7×	Dec 31, 2023
2022	$19.71B	$3.26B	6.0×	-3.7×	Dec 31, 2022
2021	$30.36B	$3.12B	9.7×	+3.8×	Dec 31, 2021
2020	$15.11B	$2.55B	5.9×	+0.6×	Dec 31, 2020
2019	$13.66B	$2.54B	5.4×	+0.6×	Dec 31, 2019
2018	$11.44B	$2.41B	4.7×	+0.1×	Dec 31, 2018
2017	$11.02B	$2.35B	4.7×	+0.4×	Dec 31, 2017
2016	$9.70B	$2.24B	4.3×	-0.9×	Dec 31, 2016
2015	$10.90B	$2.09B	5.2×	+1.3×	Dec 31, 2015
2014	$6.80B	$1.74B	3.9×	+1.2×	Dec 31, 2014
2013	$4.78B	$1.76B	2.7×	+0.1×	Dec 31, 2013
2012	$3.92B	$1.49B	2.6×	+0.5×	Dec 31, 2012
2011	$2.21B	$1.02B	2.2×	+0.4×	Dec 31, 2011
2010	$1.52B	$881.40M	1.7×	+0.6×	Dec 31, 2010
2009	$998.36M	$884.18M	1.1×	+0.2×	Dec 31, 2009
2008	$843.53M	$872.46M	1.0×	-0.5×	Dec 31, 2008
2007	$927.44M	$619.92M	1.5×	+0.0×	Dec 31, 2007
2006	$958.68M	$643.55M	1.5×	+0.3×	Dec 31, 2006
2005	$576.97M	$480.13M	1.2×	+0.4×	Dec 31, 2005
2004	$203.17M	$243.61M	0.8×	—	Dec 31, 2004


Ventas (VTR)	3.0×
Essex Property Trust (ESS)	2.9×
Federal Realty Investment Trust (FRT)	2.8×
Digital Realty Trust (DLR)	2.7×
Mid-America Apartment Communities (MAA)	2.6×
Camden Property Trust (CPT)	2.5×
Prologis (PLD)	2.3×
CoStar Group (CSGP)	2.1×
Equity Residential (EQR)	2.1×
Regency Centers (REG)	2.1×
AvalonBay Communities (AVB)	1.9×
Host Hotels & Resorts (HST)	1.9×
STAG Industrial (STAG)	1.9×
NNN REIT (NNN)	1.8×
Invitation Homes (INVH)	1.7×
BXP (BXP)	1.6×
Healthpeak Properties (DOC)	1.5×
Kimco Realty (KIM)	1.5×
Agree Realty (ADC)	1.4×
Realty Income (O)	1.4×
VICI Properties (VICI)	1.0×
Apartment Investment and Management (AIV)	0.8×
Medical Properties Trust (MPT)	0.6×
Alexandria Real Estate Equities (ARE)	0.6×
Arbor Realty Trust (ABR)	0.5×

P/B Ratio for Extra Space Storage (EXR)

P/B Ratio daily chart for Extra Space Storage (EXR)

Historical P/B Ratio for Extra Space Storage (EXR) from 2004 to 2025

About P/B Ratio at Extra Space Storage (EXR)

Extra Space Storage P/B Ratio by Year

Extra Space Storage P/B Ratio 2025: 2.1×

Extra Space Storage P/B Ratio 2024: 2.3×

Extra Space Storage P/B Ratio 2023: 2.4×

Extra Space Storage P/B Ratio 2022: 6.0×

Extra Space Storage P/B Ratio 2021: 9.7×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Extra Space Storage (EXR) Key Financials

P/B Ratio daily chart for Extra Space Storage (EXR)

Historical P/B Ratio for Extra Space Storage (EXR) from 2004 to 2025

About P/B Ratio at Extra Space Storage (EXR)

Extra Space Storage P/B Ratio by Year

Extra Space Storage P/B Ratio 2025: 2.1×

Extra Space Storage P/B Ratio 2024: 2.3×

Extra Space Storage P/B Ratio 2023: 2.4×

Extra Space Storage P/B Ratio 2022: 6.0×

Extra Space Storage P/B Ratio 2021: 9.7×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Extra Space Storage's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Extra Space Storage?

+Is Extra Space Storage's P/B ratio high or low?

+What is Extra Space Storage's historical P/B ratio range?

+What was Extra Space Storage's P/B ratio in 2025?

+Why does Extra Space Storage's P/B ratio change over time?

Extra Space Storage (EXR) Key Financials