Company / Operating Margin
Extra Space Storage Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
41.8%
FY2025
5-year range
40.6% / 54.6%
FY2021-FY2025
Trend
+3.0%
vs FY2024
Sector context
#24 of 70
Real Estate
What the data says
At 41.8%, Extra Space Storage's operating margin ranks #24 of 70 in the Real Estate sector. Operating Margin returned to growth in FY2025 after 2 years of decline, reaching 41.8%.
Based on SEC 10-K filings.
41.8% in FY2025 with a 5-year CAGR of -10.0%.
Declined from 45.7% to 41.8% over the past 2 years.
Real Estate sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -12.8pp
- 5-Year Change
- -10.0pp
- 10-Year Change
- -
Sector benchmark
#24 of 70 in Real EstateTop 34% of 70This company 41.8% Sector average 27.4%
▼
+52.6% above sector average
Key checks
Key Insights
- In FY2025, operating margin increased 3.0% year-over-year.
- Currently 14.4pp above the Real Estate sector average.
- Peak operating margin was recorded in FY2017.
- Lowest operating margin in the period was in FY2024.
Company context
Key Data Points
- Altman Z-Score 0.58 (distress zone, below 1.8 threshold)
- Strong profit margin: 28.4%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 41.8% | +3.0% |
| FY2024 | 40.6% | -11.1% |
| FY2023 | 45.7% | -16.3% |
| FY2022 | 54.6% | +12.5% |
| FY2021 | 48.5% | -6.3% |
| FY2020 | 51.8% | -12.5% |
| FY2019 | 59.2% | +28.2% |
| FY2018 | 46.2% | -22.0% |
| FY2017 | 59.2% | +28.2% |
| FY2016 | 46.2% | - |
As of FY2025 · SEC 10-K · Updated Jul 2, 2026