Question 1

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

Accepted Answer

Extra Space Storage (EXR) P/E ratio is 33.9× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

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

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Extra Space Storage specifically, the relevant sector benchmark is the current sector median of 28.1×.

Question 5

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

Accepted Answer

Extra Space Storage's P/E ratio of 33.9× is above its own 5-year average of 32.7× and above the sector median of 28.1×. That places the current reading at the 51th 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/E ratio range?

Accepted Answer

In the available daily series, Extra Space Storage (EXR) P/E ratio has ranged from a low of 7.4× in 2009 to a high of 1158.0× in 2006. The 5-year average is 32.7× and the 5-year median is 31.7×.

Question 7

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

Accepted Answer

Extra Space Storage (EXR) P/E ratio at the end of 2025 was 28.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$27.6B	$974M	28.3×	-8.8×	Dec 31, 2025
2024	$31.7B	$854M	37.1×	-5.1×	Dec 31, 2024
2023	$33.8B	$803M	42.1×	+19.2×	Dec 31, 2023
2022	$19.7B	$860M	22.9×	-13.8×	Dec 31, 2022
2021	$30.4B	$826M	36.7×	+5.3×	Dec 31, 2021
2020	$15.1B	$481M	31.4×	-1.2×	Dec 31, 2020
2019	$13.7B	$419M	32.6×	+5.0×	Dec 31, 2019
2018	$11.4B	$415M	27.6×	+4.6×	Dec 31, 2018
2017	$11B	$478M	23.1×	-3.5×	Dec 31, 2017
2016	$9.7B	$365M	26.5×	-31.2×	Dec 31, 2016
2015	$10.9B	$189M	57.7×	+19.4×	Dec 31, 2015
2014	$6.8B	$178M	38.3×	+10.4×	Dec 31, 2014
2013	$4.78B	$172M	27.9×	-5.6×	Dec 31, 2013
2012	$3.92B	$117M	33.4×	-10.4×	Dec 31, 2012
2011	$2.21B	$50.4M	43.9×	-13.9×	Dec 31, 2011
2010	$1.52B	$26.3M	57.8×	+25.9×	Dec 31, 2010
2009	$998M	$31.3M	31.9×	+12.5×	Dec 31, 2009
2008	$844M	$43.4M	19.4×	-7.4×	Dec 31, 2008
2007	$927M	$34.6M	26.8×	-37.6×	Dec 31, 2007
2006	$959M	$14.9M	64.4×	—	Dec 31, 2006
2005	$577M	-$4.97M	—	—	Dec 31, 2005
2004	$203M	-$18.5M	—	—	Dec 31, 2004


Realty Income (O)	49.4×
Digital Realty Trust (DLR)	45.1×
Weyerhaeuser (WY)	44.4×
Agree Realty (ADC)	41.1×
Mid-America Apartment Communities (MAA)	36.5×
Tanger (SKT)	31.0×
CBRE Group (CBRE)	30.4×
Prologis (PLD)	30.0×
STAG Industrial (STAG)	28.2×
American Tower (AMT)	28.0×
Camden Property Trust (CPT)	26.4×
BXP (BXP)	26.0×
Invitation Homes (INVH)	25.8×
Public Storage (PSA)	25.0×
Kimco Realty (KIM)	24.5×
UDR (UDR)	22.5×
Regency Centers (REG)	22.1×
NNN REIT (NNN)	20.5×
AvalonBay Communities (AVB)	20.0×
SBA Communications (SBAC)	17.9×
Host Hotels & Resorts (HST)	13.1×
Simon Property Group (SPG)	12.9×
Arbor Realty Trust (ABR)	12.6×
VICI Properties (VICI)	9.4×
Apartment Investment and Management (AIV)	1.0×

P/E Ratio for Extra Space Storage (EXR) 2006-2026

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

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

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

Extra Space Storage P/E Ratio by Year

Extra Space Storage P/E Ratio 2025: 28.3×

Extra Space Storage P/E Ratio 2024: 37.1×

Extra Space Storage P/E Ratio 2023: 42.1×

Extra Space Storage P/E Ratio 2022: 22.9×

Extra Space Storage P/E Ratio 2021: 36.7×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Extra Space Storage (EXR) Key Financials