How does Extra Space Storage (EXR) make money?

Extra Space Storage (EXR) generates revenue primarily from Self Storage Operations, which accounted for 89.1% of total revenue in TTM through Q2 2026. The company reported $3.43B in revenue and converted 28% of it into net profit, equivalent to roughly $958M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Extra Space Storage (EXR)?

Extra Space Storage (EXR) reported a gross profit margin of 23% in TTM through Q2 2026, equivalent to $788M in gross profit on $3.43B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Extra Space Storage (EXR)?

Extra Space Storage (EXR) reported an operating profit margin of 43.4% in TTM through Q2 2026, equivalent to $1.49B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Extra Space Storage (EXR)?

Extra Space Storage (EXR) reported a net profit margin of 28% in TTM through Q2 2026, equivalent to $958M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Extra Space Storage (EXR) profitable?

Yes. Extra Space Storage (EXR) reported $958M in net income for TTM through Q2 2026, with a net profit margin of 28%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Extra Space Storage (EXR) spend on capital expenditures?

Extra Space Storage (EXR) spent $105M on capital expenditures (CapEx) during TTM through Q2 2026, roughly 3.1% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Extra Space Storage (EXR) generate?

Extra Space Storage (EXR) generated $1.75B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 51.2%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What are the main business segments of Extra Space Storage (EXR)?

Extra Space Storage (EXR) reports revenue across 2 reportable product segments, led by Self Storage Operations at 89.1% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Extra Space Storage Makes Money: 2026 Visual Revenue Map

Extra Space Storage (EXR) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 28, 2026).

Extra Space Storage discloses geographic revenue only in annual filings. to view the full breakdown.

Extra Space Storage (EXR) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Extra Space Storage (EXR), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Self Storage Operations	$3.05B	89.1%
Tenant Reinsurance	$372M	10.9%
Total	$3.43B	100%

Self Storage Operations$3.05B
Tenant Reinsurance$372M
Total$3.43B

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Extra Space Storage (EXR) reports revenue across 2 reportable product segments; the largest segment was Self Storage Operations at 89.1%, followed by Tenant Reinsurance (10.9%).

Frequently asked questions

Data & methodology

Extra Space Storage (EXR) Key Financials

Charts, filings, and peer comparison for every metric

Income Statement

Balance Sheet

Profitability

Operating Margin43.4%

Cash Flow

Capital Return

Forecast & Valuation

Operations

Employees8.4K

Trains Company Knowledge

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

EXR Overview

Counters