Extra Space Storage (FRA:FG8) EBIT: €1,440 Mil (TTM As of Mar. 2026)

What is Extra Space Storage EBIT?

Extra Space Storage FRA:FG8 +0.47% 92 EBIT is €1,440 Mil as of Mar. 2026. GuruFocus rates FRA:FG8 with a GF Score™ of 92/100 and a GF Value™ of €127.23 (Fairly Valued). The stock has 9 warning signs investors should review.

Extra Space Storage's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €366 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €1,440 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 Mar. 2026 was 4.96%. Extra Space Storage's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 213.30%.

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 Mar. 2026 was 3.57%.

Extra Space Storage (FRA:FG8) 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 Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	1271.732 * ( 1 - 4.1% )	/	( (24504.54	+	24662.259)	/ 2 )
=	1219.590988	/	24583.3995
=	4.96 %

where

	Invested Capital		(Q: Dec. 2025 )
=	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	))
=	24991.495	-	368.317	-	( 118.638	-	max(0, 1413.613	-	1617.888	+	118.638	))
=	24504.54

	Invested Capital		(Q: Mar. 2026 )
=	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	))
=	25170.955	-	388.473	-	( 120.223	-	max(0, 1385.386	-	1564.611	+	120.223	))
=	24662.259

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Extra Space Storage's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1463.796	/	( ( (680.92 + max(-155.641, 0))	+	(691.616 + max(-205.718, 0)) )	/	2 )
=	1463.796	/	( ( 680.92	+	691.616 )	/	2 )
=	1463.796	/	686.268
=	213.30 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(121.37	+	0	+	91.306)	-	(368.317	+	0	+	0)
=	-155.641

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(99.804	+	0	+	82.952)	-	(388.473	+	0	+	0.00099999999997635)
=	-205.718

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) 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: Mar. 2026 )
	=	1439.74	/	40304.257
	=	3.57 %

* 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.

Extra Space Storage EBIT Related Terms

Extra Space Storage EBIT Historical Data

* Premium members only.

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

Extra Space Storage EBIT Chart

Extra Space Storage Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

EBIT

Get a 7-Day Free Trial

941.88

1,096.22

1,201.12

1,459.99

1,451.14

Extra Space Storage Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
EBIT	Get a 7-Day Free Trial															414.06	374.76	296.27	402.76	365.95

FRA:FG8 vs EGP, LINE, CUBE: EBIT Comparison

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 EV-to-EBIT vs 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.

Save Embed

92GF Score

Extra Space Storage Inc FRA:FG8

EBIT is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,440 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of €1,440 Mil mean?

Extra Space Storage (FRA:FG8) has a EBIT of €1,440 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Extra Space Storage.

Is Extra Space Storage's EBIT too high?

Extra Space Storage's current EBIT is €1,440 Mil. Overall, Extra Space Storage has a GF Score™ of 92/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Extra Space Storage's EBIT compare to EGP and LINE?

Extra Space Storage's EBIT of €1,440 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good EBIT for a REITs company?

A good EBIT depends on the REITs industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high EBIT mean?

A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Extra Space Storage. Extra Space Storage's current EBIT is €1,440 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Extra Space Storage stock overvalued right now?

Based on GuruFocus' analysis, Extra Space Storage (FRA:FG8) is currently considered Fairly Valued. The stock's GF Value™ is €127.23, compared to a current price of €128.90 — trading 1.3% above its estimated fair value. The current EBIT is €1,440 Mil. Extra Space Storage's overall GF Score™ is 92/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is EBIT calculated?

EBIT is calculated from a company's financial statements. For Extra Space Storage (FRA:FG8), the current EBIT is €1,440 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Extra Space Storage (FRA:FG8) Overvalued in 2026?

Based on GuruFocus' analysis, Extra Space Storage stock appears to be overvalued. The current stock price of €128.90 is trading 1.3% above its estimated GF Value™ of €127.23. GuruFocus considers Extra Space Storage to be Fairly Valued.

Key valuation signals for FRA:FG8:

EBIT: €1,440 Mil
GF Value™: €127.23 vs. price of €128.90 (1.3% above fair value)
GF Score™: 92/100 with 9 warning signs

No single metric tells the full story. See the FRA:FG8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Extra Space Storage Business Description

Industry Real Estate REITs

Comparable Companies EGP LINE CUBE FR REXR PSA STAG TRNO COLD NSA PLD LSE:SGRO SGX:A17U MEX:FIBRAPL14 XBRU:WDP LSE:LMP LSE:BBOX SGX:M44U TSE:3283 SGX:ME8U

Other Exchanges EXR:USA 0IJV:UK 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 more than 4,200 self-storage properties in 43 states, with over 330 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.

92GF Score

Get the complete analysis for FRA:FG8

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€128.90

Price

€127.23

GF Value

View FRA:FG8 Analysis

See EBIT data for all stocks →