EXR - NYSE
Extra Space Storage Inc.
$144.61
+1.6%Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, D.C. and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States.
At a Glance
Live SnapshotExtra Space Storage Inc. Fair Value Envelope
Owner Earnings Valuation Tool
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Historical Financial Data
Base year metrics used for projections
Projection Settings
Forecast period and terminal assumptions
DCF Valuation Summary
Calculation flow from present value to intrinsic value per share
Owner Earnings Projections
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.8B | $1.8B | $1.7B | $1.7B | $1.7B | $1.6B | $1.6B | $1.6B | $1.5B | $1.5B |
| Maintenance CapEx | -$4.1M | -$4.1M | -$4.0M | -$3.9M | -$3.8M | -$3.7M | -$3.7M | -$3.6M | -$3.5M | -$3.4M |
| Owner Earnings | $1.8B | $1.8B | $1.7B | $1.7B | $1.7B | $1.6B | $1.6B | $1.6B | $1.5B | $1.5B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $1.7B | $1.5B | $1.4B | $1.3B | $1.1B | $1.0B | $933.2M | $846.5M | $767.9M | $696.6M |
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Research Paths
Snapshot
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Value Model
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Statements
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Earnings Call
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Dividends
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Analyst Expectations
Review consensus spread and where estimate risk is concentrated.