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Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-09-09), Extra Space Storage's Intrinsic Value: Projected FCF is $125.18. The stock price of Extra Space Storage is $135.63. Therefore, Extra Space Storage's Price-to-Intrinsic-Value-Projected-FCF of today is 1.1.
The historical rank and industry rank for Extra Space Storage's Intrinsic Value: Projected FCF or its related term are showing as below:
EXR'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 0.98 Med: 1.49 Max: 2.78
Current: 1.08
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Extra Space Storage was 2.78. The lowest was 0.98. And the median was 1.49.
EXR's Price-to-Projected-FCF is ranked worse than 79.32% of 614
companies
in the REITs industry
Industry Median: 0.65
vs EXR: 1.08
Extra Space Storage (NYSE:EXR) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Extra Space Storage's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
135.63
/
125.18129903871
=
1.08
* 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 Intrinsic Value: Projected FCF Related Terms
Extra Space Storage Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Extra Space Storage's Intrinsic Value: Projected FCF 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.
Extra Space Storage Intrinsic Value: Projected FCF Chart
EXR vs EGP, CUBE, LINE: Intrinsic Value: Projected FCF Comparison
For the REIT - Industrial subindustry, Extra Space Storage's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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 Price-to-Projected-FCF vs REITs Industry
For the REITs industry and Real Estate sector, Extra Space Storage's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Extra Space Storage's Price-to-Projected-FCF falls into.
Extra Space Storage Intrinsic Value: Projected FCF Calculation
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* 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.
What does a Intrinsic Value: Projected FCF of $125.18 mean?
Extra Space Storage (EXR) has a Intrinsic Value: Projected FCF of $125.18 as of Sep. 09, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Extra Space Storage and its competitors. According to the industry distribution chart, Extra Space Storage ranks #487 out of 614 companies in the REITs industry, placing it in the top 79.3%.
Is Extra Space Storage's Intrinsic Value: Projected FCF too high?
Extra Space Storage's current Intrinsic Value: Projected FCF is $125.18. The REITs industry median Intrinsic Value: Projected FCF is 0.65. Extra Space Storage's value of $125.18 is 19158.5% above this industry median. Based on the distribution chart, Extra Space Storage ranks #487 out of 614 companies in the REITs industry, which is in the bottom quartile relative to peers. 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 Intrinsic Value: Projected FCF compare to EGP and CUBE?
According to the REITs industry distribution chart, Extra Space Storage ranks #487 out of 614 companies for Intrinsic Value: Projected FCF. This places Extra Space Storage in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 0.65. Extra Space Storage's value of $125.18 is 19158.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a REITs company?
The median Intrinsic Value: Projected FCF among REITs companies is 0.65, based on 614 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Extra Space Storage's current Intrinsic Value: Projected FCF of $125.18 is 19158.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Extra Space Storage and its competitors. For the REITs industry, the median Intrinsic Value: Projected FCF is 0.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Extra Space Storage's current Intrinsic Value: Projected FCF is $125.18. 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 (EXR) is currently considered Fairly Valued. The stock's GF Value™ is $145.06, compared to a current price of $135.63 — trading 6.5% below its estimated fair value. The current Intrinsic Value: Projected FCF is $125.18 and 19158.5% above the REITs industry median of 0.65. Extra Space Storage's overall GF Score™ is 92/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Extra Space Storage (EXR), the current Intrinsic Value: Projected FCF is $125.18 as of Sep. 09, 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 (EXR) Overvalued in 2026?
Based on GuruFocus' analysis, Extra Space Storage stock appears to be undervalued.
The current stock price of $135.63 is trading 6.5% below its estimated GF Value™ of $145.06.
GuruFocus considers Extra Space Storage to be Fairly Valued.
Key valuation signals for EXR:
Intrinsic Value: Projected FCF: $125.18
GF Value™: $145.06 vs. price of $135.63 (6.5% below fair value)
Industry Position: 19158.5% above the REITs median (#487 of 614)
No single metric tells the full story. See the EXR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 EXR
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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