Extra Space StorageMEX:EXR 92 ROC (Joel Greenblatt) % is 212.10% as of Mar. 2026, which is 30% below its 10-year median of 300.91. GuruFocus rates MEX:EXR with a GF Score™ of 92/100 and a GF Value™ of MXN2,591.09. The stock has 9 warning signs investors should review. Among 588 REITs companies, Extra Space Storage ranks better than 52.55% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Extra Space Storage's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 212.10%.
The historical rank and industry rank for Extra Space Storage's ROC (Joel Greenblatt) % or its related term are showing as below:
MEX:EXR'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 215.47 Med: 300.91 Max: 484.7
Current: 215.47
During the past 13 years, Extra Space Storage's highest ROC (Joel Greenblatt) % was 484.70%. The lowest was 215.47%. And the median was 300.91%.
MEX:EXR's ROC (Joel Greenblatt) % is ranked better than 52.55% of 588
companies
in the REITs industry
Industry Median: 178.7
vs MEX:EXR: 215.47
Extra Space Storage's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -5.40% per year.
Extra Space Storage (MEX:EXR) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Extra Space Storage ROC (Joel Greenblatt) % Related Terms
Extra Space Storage ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Extra Space Storage's ROC (Joel Greenblatt) % 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.
MEX:EXR vs EGP, LINE, CUBE: ROC (Joel Greenblatt) % Comparison
For the REIT - Industrial subindustry, Extra Space Storage's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Extra Space Storage's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Extra Space Storage's ROC (Joel Greenblatt) % falls into.
Extra Space Storage ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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 ROC (Joel Greenblatt) % of 212.10% mean?
Extra Space Storage (MEX:EXR) has a ROC (Joel Greenblatt) % of 212.10% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Extra Space Storage and its competitors. This is 30% below median its historical median of 300.91. Over the past decade, Extra Space Storage's ROC (Joel Greenblatt) % has ranged from 215.47 to 484.70. According to the industry distribution chart, Extra Space Storage ranks #279 out of 588 companies in the REITs industry, placing it in the top 47.4%.
Is Extra Space Storage's ROC (Joel Greenblatt) % too high?
Extra Space Storage's current ROC (Joel Greenblatt) % of 212.10% is 30% below median its 10-year median of 300.91. Over the past 10 years, this metric has ranged from a low of 215.47 to a high of 484.70. The REITs industry median ROC (Joel Greenblatt) % is 178.70. Extra Space Storage's value of 212.10% is 18.7% above this industry median. Based on the distribution chart, Extra Space Storage ranks #279 out of 588 companies in the REITs industry, which is above the industry midpoint. Overall, Extra Space Storage has a GF Score™ of 92/100, reflecting its overall financial health beyond just this single metric.
How does Extra Space Storage's ROC (Joel Greenblatt) % compare to EGP and LINE?
According to the REITs industry distribution chart, Extra Space Storage ranks #279 out of 588 companies for ROC (Joel Greenblatt) %. This puts Extra Space Storage in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 178.70. Extra Space Storage's value of 212.10% is 18.7% above this benchmark. Historically, Extra Space Storage's own ROC (Joel Greenblatt) % has ranged from 215.47 to 484.70 over the past decade. While the company's 10-year median is 300.91 vs. the industry median of 178.70, Extra Space Storage has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 178.70, based on 588 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Extra Space Storage's current ROC (Joel Greenblatt) % of 212.10% is 18.7% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Extra Space Storage and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 178.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Extra Space Storage's current ROC (Joel Greenblatt) % is 212.10%, which is 30% below median its own 10-year median of 300.91. 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 ROC (Joel Greenblatt) % of 212.10%. The stock's GF Value™ is MXN2,591.09, compared to a current price of MXN2,607.33 — trading 0.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 212.10%, which is 30% below median its 10-year median of 300.91 and 18.7% above the REITs industry median of 178.70. 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 ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Extra Space Storage (MEX:EXR), the current ROC (Joel Greenblatt) % is 212.10% 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 (MEX:EXR) Overvalued in 2026?
Based on GuruFocus' analysis, Extra Space Storage stock appears to be overvalued.
The current stock price of MXN2,607.33 is trading 0.6% above its estimated GF Value™ of MXN2,591.09.
Key valuation signals for MEX:EXR:
ROC (Joel Greenblatt) %: 212.10% (30% below median its 10-year median of 300.91)
GF Value™: MXN2,591.09 vs. price of MXN2,607.33 (0.6% above fair value)
Industry Position: 18.7% above the REITs median (#279 of 588)
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 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 MEX:EXR
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:EXR has been successfully added to your 
