Extra Space Storage (Extra Space Storage) Gross Margin % : 72.90% (As of Dec. 2023)

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What is Extra Space Storage Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Extra Space Storage's Gross Profit for the three months ended in Dec. 2023 was $582 Mil. Extra Space Storage's Revenue for the three months ended in Dec. 2023 was $798 Mil. Therefore, Extra Space Storage's Gross Margin % for the quarter that ended in Dec. 2023 was 72.90%.

The historical rank and industry rank for Extra Space Storage's Gross Margin % or its related term are showing as below:

EXR' s Gross Margin % Range Over the Past 10 Years
Min: 71.46 Med: 73.35 Max: 75.63
Current: 73.8

During the past 13 years, the highest Gross Margin % of Extra Space Storage was 75.63%. The lowest was 71.46%. And the median was 73.35%.

EXR's Gross Margin % is ranked better than
60.25% of 634 companies
in the REITs industry
Industry Median: 68.745 vs EXR: 73.80

Extra Space Storage had a gross margin of 72.90% for the quarter that ended in Dec. 2023 => Durable competitive advantage

The 5-Year average Growth Rate of Gross Margin for Extra Space Storage was 0.60% per year.

Extra Space Storage Gross Margin % Historical Data

The historical data trend for Extra Space Storage's Gross Margin % 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 Gross Margin % Chart

Extra Space Storage Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

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72.07

71.46

74.76

75.63

73.80

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
Gross Margin %	Get a 7-Day Free Trial															76.08	74.90	75.73	72.69	72.90

Competitive Comparison of Extra Space Storage's Gross Margin %

For the REIT - Industrial subindustry, Extra Space Storage's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Extra Space Storage's Gross Margin % distribution charts can be found below:

* The bar in red indicates where Extra Space Storage's Gross Margin % falls into.

Extra Space Storage Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

Extra Space Storage's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )	=	Gross Profit (A: Dec. 2023 )	/	Revenue (A: Dec. 2023 )
	=	1889.3	/	2560.244
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(2560.244 - 670.91)	/	2560.244
	=	73.80 %

Extra Space Storage's Gross Margin for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	581.6	/	797.774
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(797.774 - 216.212)	/	797.774
	=	72.90 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Extra Space Storage (NYSE:EXR) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Extra Space Storage had a gross margin of 72.90% for the quarter that ended in Dec. 2023 => Durable competitive advantage

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

Extra Space Storage Gross Margin % 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 » Gross Margin %

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