Extra Space Storage (MEX:EXR) Operating Income: MXN27,307 Mil (TTM As of Jun. 2026)

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MEX:EXR Extra Space Storage Inc MEX:EXR
93 GF Score
Price MXN2,608.00
GF Value MXN2,576.61
! 8 Warning Signs
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What is Extra Space Storage Operating Income?

Extra Space Storage MEX:EXR 93 Operating Income is MXN27,307 Mil as of Jun. 2026. GuruFocus rates MEX:EXR with a GF Score™ of 93/100 and a GF Value™ of MXN2,576.61. The stock has 8 warning signs investors should review.

Extra Space Storage's Operating Income for the three months ended in Jun. 2026 was MXN6,843 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was MXN27,307 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Extra Space Storage's Operating Income for the three months ended in Jun. 2026 was MXN6,843 Mil. Extra Space Storage's Revenue for the three months ended in Jun. 2026 was MXN15,253 Mil. Therefore, Extra Space Storage's Operating Margin % for the quarter that ended in Jun. 2026 was 44.86%.

Warning Sign:

Extra Space Storage Inc operating margin has been in a 5-year decline. The average rate of decline per year is -3.2%.

Extra Space Storage's 5-Year average Growth Rate for Operating Margin % was -3.20% per year.

Operating Income or EBIT 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 Jun. 2026 was 5.15%. Extra Space Storage's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 220.93%.


Extra Space Storage  (MEX:EXR) Operating Income Explanation

1. Operating Income or EBIT 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 Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=27372.876 * ( 1 - 4.19% )/( (514135.395 + 504315.901)/ 2 )
=26225.9524956/509225.648
=5.15 %

where

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))
=524740.21 - 8098.522 - ( 2506.293 - max(0, 28881.208 - 32617.53+2506.293))
=514135.395

Invested Capital(Q: Jun. 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))
=517545.942 - 9079.221 - ( 12130.039 - max(0, 37294.254 - 41445.074+12130.039))
=504315.901

Note: The Operating Income data used here is four times the quarterly (Jun. 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 Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=31226.94/( ( (14418.153 + max(-4288.59, 0)) + (13850.318 + max(-5094.079, 0)) )/ 2 )
=31226.94/( ( 14418.153 + 13850.318 )/ 2 )
=31226.94/14134.2355
=220.93 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2080.613 + 0 + 1729.318) - (8098.522 + 0 + -0.0010000000038417)
=-4288.59

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2001.034 + 0 + 1984.108) - (9079.221 + 0 + 0)
=-5094.079

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Extra Space Storage's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=6843.219/15253.078
=44.86 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Extra Space Storage Operating Income Related Terms


Extra Space Storage Operating Income Historical Data

* Premium members only.

The historical data trend for Extra Space Storage's Operating Income 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 Operating Income Chart

Extra Space Storage Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 17,133.15 20,231.02 20,994.99 29,219.44 26,810.51

Extra Space Storage Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7,057.82 7,048.72 6,787.25 6,627.97 6,843.22
MEX:EXR
93GF Score
Extra Space Storage Inc MEX:EXR
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Extra Space Storage Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN27,307 Mil.

* 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of MXN27,307 Mil mean?
Extra Space Storage (MEX:EXR) has a Operating Income of MXN27,307 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Extra Space Storage and its competitors.
Is Extra Space Storage's Operating Income too high?
Extra Space Storage's current Operating Income is MXN27,307 Mil. Overall, Extra Space Storage has a GF Score™ of 93/100, reflecting its overall financial health beyond just this single metric.
How does Extra Space Storage's Operating Income compare to EGP and CUBE?
Extra Space Storage's Operating Income of MXN27,307 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 Operating Income for a REITs company?
A good Operating Income depends on the REITs industry context. However, Operating Income 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 Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Extra Space Storage and its competitors. Extra Space Storage's current Operating Income is MXN27,307 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?
Extra Space Storage (MEX:EXR) has a current Operating Income of MXN27,307 Mil. The stock's GF Value™ is MXN2,576.61, compared to a current price of MXN2,608.00 — trading 1.2% above its estimated fair value. The current Operating Income is MXN27,307 Mil. Extra Space Storage's overall GF Score™ is 93/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Extra Space Storage (MEX:EXR), the current Operating Income is MXN27,307 Mil as of Jun. 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 (MEX:EXR) Overvalued in 2026?

Based on GuruFocus' analysis, Extra Space Storage stock appears to be overvalued. The current stock price of MXN2,608.00 is trading 1.2% above its estimated GF Value™ of MXN2,576.61.

Key valuation signals for MEX:EXR:

  • Operating Income: MXN27,307 Mil
  • GF Value™: MXN2,576.61 vs. price of MXN2,608.00 (1.2% above fair value)
  • GF Score™: 93/100 with 8 warning signs

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


Extra Space Storage Business Description

Industry Real EstateREITs
Other Exchanges EXR:USA0IJV:UKFG8:Germany
Address 2795 East Cottonwood Parkway, Suite 300, Salt Lake City, UT, USA, 84121
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.
93GF Score

Get the complete analysis for MEX:EXR

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

MXN2,608.00
Price
MXN2,576.61
GF Value