National Storage REITASX:NSR 56 ROE % is 42.53% as of Dec. 2025, which is 500% above its 10-year median of 7.09. 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. Among 939 REITs companies, National Storage REIT ranks worse than 64.86% on this metric.
The historical rank and industry rank for National Storage REIT's ROE % or its related term are showing as below:
ASX:NSR'
s ROE % Range Over the Past 10 Years
Min: -4.61 Med: 7.09 Max: 324.93
Current: 3.95
During the past 12 years, National Storage REIT's highest ROE % was 324.93%. The lowest was -4.61%. And the median was 7.09%.
ASX:NSR's ROE % is ranked worse than 64.86% of 939
companies
in the REITs industry
Industry Median: 6.13
vs ASX:NSR: 3.95
National Storage REIT (ASX:NSR) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is two times the semi-annual (Dec. 2025) net income data. The Revenue data used here is two times the semi-annual (Dec. 2025) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
* 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.
For the REIT - Industrial subindustry, National Storage REIT's ROE %, along with its competitors' market caps and ROE % 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.
National Storage REIT ROE % vs REITs Industry
For the REITs industry and Real Estate sector, National Storage REIT's ROE % distribution charts can be found below:
* The bar in red indicates where National Storage REIT's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is two times the semi-annual (Dec. 2025) net income data.
ROE % is displayed in the 30-year financial page.
National Storage REIT (ASX:NSR) has a ROE % of 42.53% as of Dec. 2025. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on National Storage REIT and its competitors. This is 500% above median its historical median of 7.09. According to the industry distribution chart, National Storage REIT ranks #609 out of 939 companies in the REITs industry, placing it in the top 64.9%.
Is National Storage REIT's ROE % too high?
National Storage REIT's current ROE % of 42.53% is 500% above median its 10-year median of 7.09. The REITs industry median ROE % is 6.13. National Storage REIT's value of 42.53% is 593.8% above this industry median. Based on the distribution chart, National Storage REIT ranks #609 out of 939 companies in the REITs industry, which is below the industry midpoint. 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 ROE % compare to PLD and PSA?
According to the REITs industry distribution chart, National Storage REIT ranks #609 out of 939 companies for ROE %. This places National Storage REIT in the lower half of its industry. The industry median ROE % is 6.13. National Storage REIT's value of 42.53% is 593.8% above this benchmark. While the company's 10-year median is 7.09 vs. the industry median of 6.13, National Storage REIT 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 ROE % for a REITs company?
The median ROE % among REITs companies is 6.13, based on 939 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Storage REIT's current ROE % of 42.53% is 593.8% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on National Storage REIT and its competitors. For the REITs industry, the median ROE % is 6.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Storage REIT's current ROE % is 42.53%, which is 500% above median its own 10-year median of 7.09. 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 ROE % is 42.53%, which is 500% above median its 10-year median of 7.09 and 593.8% above the REITs industry median of 6.13. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For National Storage REIT (ASX:NSR), the current ROE % is 42.53% 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:
ROE %: 42.53% (500% above median its 10-year median of 7.09)
GF Value™: A$2.62 vs. price of A$2.79 (6.5% above fair value)
Industry Position: 593.8% above the REITs median (#609 of 939)
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 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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