National Storage REIT (ASX:NSR) ROCE %: 4.12% (As of Dec. 2025)


ASX:NSR National Storage REIT ASX:NSR
56 GF Score
Price A$2.79
GF Value A$2.62
Valuation Fairly Valued
! 11 Warning Signs
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What is National Storage REIT ROCE %?

National Storage REIT ASX:NSR 56 ROCE % is 4.12% as of Dec. 2025. GuruFocus rates ASX:NSR with a GF Score™ of 56/100 and a GF Value™ of A$2.62 (Fairly Valued). The stock has 11 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. National Storage REIT's annualized ROCE % for the quarter that ended in Dec. 2025 was 4.12%.

National Storage REIT  (ASX:NSR) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

National Storage REIT ROCE % Related Terms

National Storage REIT ROCE % Historical Data

* Premium members only.

The historical data trend for National Storage REIT's ROCE % 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.

National Storage REIT ROCE % Chart

National Storage REIT Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.94 18.59 9.02 6.12 6.03

National Storage REIT Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
ROCE % 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 4.84 7.39 5.13 7.17 4.12
ASX:NSR
56GF Score
National Storage REIT ASX:NSR
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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National Storage REIT ROCE % Calculation

National Storage REIT's annualized ROCE % for the fiscal year that ended in Jun. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Jun. 2025 )  (A: Jun. 2024 )(A: Jun. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Jun. 2025 )  (A: Jun. 2024 )(A: Jun. 2025 )
=311.9/( ( (5166.741 - 151.267) + (5797.3 - 469.6) )/ 2 )
=311.9/( (5015.474+5327.7)/ 2 )
=311.9/5171.587
=6.03 %

National Storage REIT's ROCE % of for the quarter that ended in Dec. 2025 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=229.2/( ( (5797.3 - 469.6) + (6209.6 - 416.3) )/ 2 )
=229.2/( ( 5327.7 + 5793.3 )/ 2 )
=229.2/5560.5
=4.12 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2025) 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 4.12% mean?
National Storage REIT (ASX:NSR) has a ROCE % of 4.12% as of Dec. 2025.
Is National Storage REIT's ROCE % too high?
National Storage REIT's current ROCE % is 4.12%. The REITs industry median ROCE % is 5.21. National Storage REIT's value of 4.12% is 20.9% below this industry median. Overall, National Storage REIT has a GF Score™ of 56/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Storage REIT's ROCE % compare to PLD and PSA?
National Storage REIT's ROCE % of 4.12% can be compared against companies in the REITs industry. The industry median ROCE % is 5.21. National Storage REIT's value of 4.12% is 20.9% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a REITs company?
The median ROCE % among REITs companies is 5.21, based on 757 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Storage REIT's current ROCE % of 4.12% is 20.9% below 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the REITs industry, the median ROCE % is 5.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Storage REIT's current ROCE % is 4.12%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Storage REIT stock overvalued right now?
Based on GuruFocus' analysis, National Storage REIT (ASX:NSR) is currently considered Fairly Valued. The stock's GF Value™ is A$2.62, compared to a current price of A$2.79 — trading 6.5% above its estimated fair value. The current ROCE % is 4.12% and 20.9% below the REITs industry median of 5.21. National Storage REIT's overall GF Score™ is 56/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For National Storage REIT (ASX:NSR), the current ROCE % is 4.12% as of Dec. 2025. 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 National Storage REIT (ASX:NSR) Overvalued in 2026?

Based on GuruFocus' analysis, National Storage REIT stock appears to be overvalued. The current stock price of A$2.79 is trading 6.5% above its estimated GF Value™ of A$2.62. GuruFocus considers National Storage REIT to be Fairly Valued.

Key valuation signals for ASX:NSR:

  • ROCE %: 4.12%
  • GF Value™: A$2.62 vs. price of A$2.79 (6.5% above fair value)
  • GF Score™: 56/100 with 11 warning signs
  • Industry Position: 20.9% below the REITs median

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

National Storage REIT Business Description

Industry Real EstateREITs
Address 1 Eagle Street, Level 16, Brisbane, QLD, AUS, 4000
National Storage REIT is the largest self-storage operator in Australia and New Zealand. Majority of its income is derived from rents. Additional revenue streams come from ancillary products and services such as packaging materials, locks, and insurance. The REIT owns most of the centers it operates, and leases roughly a dozen of the sites secured under long-term agreements. The self-storage industry is fragmented, with three large players in National Storage, the listed Abacus Storage King, and privately owned Kennards, accounting for about one-third of the market. The rest are independent operators, with a single center or a small state-based portfolio of assets. Besides organic rent increases, the company's key growth drivers are acquisitions and developments.
56GF Score

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

A$2.79
Price
A$2.62
GF Value