Extra Space Storage (Extra Space Storage) EBIT : $1,310 Mil (TTM As of Dec. 2023)

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What is Extra Space Storage EBIT?

Extra Space Storage's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $372 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $1,310 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Extra Space Storage's annualized ROC % for the quarter that ended in Dec. 2023 was 4.99%. Extra Space Storage's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 521.99%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Extra Space Storage's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 3.32%.

Extra Space Storage EBIT Historical Data

The historical data trend for Extra Space Storage's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Extra Space Storage EBIT Chart

Extra Space Storage Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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653.70

703.69

1,064.27

1,161.25

1,309.83

Extra Space Storage Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															297.81	293.29	307.67	336.93	371.95

Competitive Comparison of Extra Space Storage's EBIT

For the REIT - Industrial subindustry, Extra Space Storage's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Extra Space Storage's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Extra Space Storage's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Extra Space Storage's EV-to-EBIT falls into.

Extra Space Storage EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,310 Mil.

Extra Space Storage (NYSE:EXR) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Extra Space Storage's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	1384.104 * ( 1 - 1.86% )	/	( (27208.363	+	27208.541)	/ 2 )
=	1358.3596656	/	27208.452
=	4.99 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	27625.818	-	499.569	-	( 216.121	-	max(0, 1122.569	-	1040.455	+	216.121	))
=	27208.363

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	27456.262	-	405.587	-	( 99.062	-	max(0, 1087.587	-	929.721	+	99.062	))
=	27208.541

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Extra Space Storage's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1487.804	/	( ( (294.109 + max(-266.546, 0))	+	(275.938 + max(-179.697, 0)) )	/	2 )
=	1487.804	/	( ( 294.109	+	275.938 )	/	2 )
=	1487.804	/	285.0235
=	521.99 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(131.614	+	0	+	101.409)	-	(499.569	+	0	+	0)
=	-266.546

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(134.716	+	0	+	91.174)	-	(405.587	+	0	+	0)
=	-179.697

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Extra Space Storage's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	1309.833	/	39475.357
	=	3.32 %

Extra Space Storage EBIT Related Terms

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Extra Space Storage (Extra Space Storage) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Extra Space Storage Inc (NYSE:EXR) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

FG8:Germany E1XR34:Brazil

Address

2795 East Cottonwood Parkway, Suite 300, Salt Lake City, UT, USA, 84121

Website

http://www.extraspace.com

Extra Space Storage is a fully integrated real estate investment trust that owns, operates, and manages almost 2,400 self-storage properties in 41 states, with over 180 million net rentable square feet of storage space. Of these properties, approximately one half is wholly owned, while some facilities are owned through joint ventures and others are owned by third parties and managed by Extra Space Storage in exchange for a management fee.

Executives

Joseph Saffire	director	6467 MAIN STREET, WILLIAMSVILLE NY 14221
Joseph D Margolis	director	C/O ARSENAL REAL ESTATE FUNDS, 117 ON THE GREEN, 67 PARK PLACE EAST, MORRISTOWN NJ 07960
Joseph J Bonner	director	2795 E COTTONWOOD PARKWAY, SUITE 300, SALT LAKE CITY UT 84121
Mark G Barberio	director	19 WIK STREET, WILLIAMSVILLE NY 14221
Sue Harnett	director	P.O. BOX 195115, SAN JUAN PR 00919-5115
Jennifer Blouin	director	2795 E COTTONWOOD PARKWAY, SUITE 300, SALT LAKE CITY UT 84121
Matthew T Herrington	officer: EVP & COO	2795 E COTTONWOOD PARKWAY, SUITE 300, SALT LAKE CITY UT 84121
Gwyn Goodson Mcneal	officer: EVP/Chief Legal Officer	2795 E COTTONWOOD PARKWAY, SUITE 400, SALT LAKE CITY UT 84121
Samrat Sondhi	officer: SVP Operations	2795 E COTTONWOOD PARKWAY, SUITE 400, SALT LAKE CITY UT 84121
Jefferson Scott Shreve	director	2795 E COTTONWOOD PARKWAY, SUITE 300, SALT LAKE CITY UT 84121
Kenneth M. Woolley	director	2795 EAST COTTONWOOD PARKWAY, SUITE 400, SALT LAKE CITY UT 84121
P Scott Stubbs	officer: Senior VP Accounting	2795 EAST COTTONWOOD PARKWAY, SALT LAKE CITY UT 84121
Diane Olmstead	director	2795 E COTTONWOOD PARKWAY, SUITE 400, SALT LAKE CITY UT 84121
Spencer Kirk	director, officer: Chief Executive Officer	2795 EAST COTTONWOOD PARKWAY, SUITE 400, SALT LAKE CITY UT 84121
William N Springer	officer: EVP, Assets & 3rd Party Mgmt	2795 E COTTONWOOD PARKWAY, SUITE 300, SALT LAKE CITY UT 84121