ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. National Storage REIT's annualized return on invested capital (ROIC %) for the quarter that ended in Dec. 2025 was 3.09%.
As of today (2026-06-29), National Storage REIT's WACC % is 8.46%. National Storage REIT's ROIC % is 3.06% (calculated using TTM income statement data).
National Storage REIT earns returns that do not match up to its cost of capital. It will destroy value as it grows.
National Storage REIT (OTCPK:NTSGF) ROIC % Explanation
ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.
There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.
Why is ROIC % important?
Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, National Storage REIT's WACC % is 8.46%. National Storage REIT's ROIC % is 3.06% (calculated using TTM income statement data).
National Storage REIT earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Be Aware
Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
* 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 ROIC %, along with its competitors' market caps and ROIC % 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 ROIC % vs REITs Industry
For the REITs industry and Real Estate sector, National Storage REIT's ROIC % distribution charts can be found below:
* The bar in red indicates where National Storage REIT's ROIC % falls into.
Note:
The Operating Income data used here is two times the semi-annual (Dec. 2025) data.
The tax rate is limited to between 0% and 100%.
* 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 (NTSGF) has a ROIC % of 3.09% as of Dec. 2025. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on National Storage REIT and its competitors.
Is National Storage REIT's ROIC % too high?
National Storage REIT's current ROIC % is 3.09%. The REITs industry median ROIC % is 3.75. National Storage REIT's value of 3.09% is 17.5% below this industry median. Overall, National Storage REIT has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does National Storage REIT's ROIC % compare to PLD and PSA?
National Storage REIT's ROIC % of 3.09% can be compared against companies in the REITs industry. The industry median ROIC % is 3.75. National Storage REIT's value of 3.09% is 17.5% 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 ROIC % for a REITs company?
The median ROIC % among REITs companies is 3.75, based on 748 companies in the industry. Companies in the top quartile (top 25%) have a ROIC % significantly above this median, while those in the bottom quartile fall well below. However, ROIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Storage REIT's current ROIC % of 3.09% is 17.5% 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 ROIC % mean?
A high ROIC % can signal that a stock is expensive relative to its fundamentals. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on National Storage REIT and its competitors. For the REITs industry, the median ROIC % is 3.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Storage REIT's current ROIC % is 3.09%. 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?
National Storage REIT (NTSGF) has a current ROIC % of 3.09%. The stock's GF Value™ is $1.72, compared to a current price of $1.83 — trading 6.5% above its estimated fair value. The current ROIC % is 3.09% and 17.5% below the REITs industry median of 3.75. National Storage REIT's overall GF Score™ is 78/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROIC % calculated?
ROIC % is calculated from a company's financial statements. For National Storage REIT (NTSGF), the current ROIC % is 3.09% 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 (NTSGF) Overvalued in 2026?
Based on GuruFocus' analysis, National Storage REIT stock appears to be overvalued.
The current stock price of $1.83 is trading 6.5% above its estimated GF Value™ of $1.72.
Key valuation signals for NTSGF:
ROIC %: 3.09%
GF Value™: $1.72 vs. price of $1.83 (6.5% above fair value)
No single metric tells the full story. See the NTSGF 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.
78GF Score
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