NSA (National Storage Affiliates Trust) Scaled Net Operating Assets: 0.96 (As of Mar. 2026)


NSA National Storage Affiliates Trust NSA
81 GF Score
Price $44.84
GF Value $40.60
Valuation Fairly Valued
! 11 Warning Signs
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What is National Storage Affiliates Trust Scaled Net Operating Assets?

National Storage Affiliates Trust NSA +0.90% 81 Scaled Net Operating Assets is 0.96 as of Mar. 2026. GuruFocus rates NSA with a GF Score™ of 81/100 and a GF Value™ of $40.60 (Fairly Valued). The stock has 11 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

National Storage Affiliates Trust's operating assets for the quarter that ended in Mar. 2026 was $5,006.1 Mil. National Storage Affiliates Trust's operating liabilities for the quarter that ended in Mar. 2026 was $119.5 Mil. National Storage Affiliates Trust's Total Assets for the quarter that ended in Dec. 2025 was $5,080.1 Mil. Therefore, National Storage Affiliates Trust's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.96.


National Storage Affiliates Trust Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for National Storage Affiliates Trust's Scaled Net Operating Assets 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 Affiliates Trust Scaled Net Operating Assets Chart

National Storage Affiliates Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.54 1.07 0.95 0.87 0.92

National Storage Affiliates Trust Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.96 0.96 0.96 0.96 0.96

NSA vs LXP, COLD, SMA: Scaled Net Operating Assets Comparison

For the REIT - Industrial subindustry, National Storage Affiliates Trust's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Affiliates Trust Scaled Net Operating Assets vs REITs Industry

For the REITs industry and Real Estate sector, National Storage Affiliates Trust's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where National Storage Affiliates Trust's Scaled Net Operating Assets falls into.


NSA
81GF Score
National Storage Affiliates Trust NSA
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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National Storage Affiliates Trust Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

National Storage Affiliates Trust's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(5056.787-118.61)/5354.462
=0.92

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=5080.115 - 23.328
=5056.787

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3546.332 - 3026.822 - 400.9
=118.61

National Storage Affiliates Trust's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(5006.11-119.513)/5080.115
=0.96

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=5033.758 - 27.648
=5006.11

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3558.669 - 3026.756 - 412.4
=119.513

* 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 Scaled Net Operating Assets of 0.96 mean?
National Storage Affiliates Trust (NSA) has a Scaled Net Operating Assets of 0.96 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on National Storage Affiliates Trust and its competitors.
Is National Storage Affiliates Trust's Scaled Net Operating Assets too high?
National Storage Affiliates Trust's current Scaled Net Operating Assets is 0.96. Overall, National Storage Affiliates Trust has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does National Storage Affiliates Trust's Scaled Net Operating Assets compare to LXP and COLD?
National Storage Affiliates Trust's Scaled Net Operating Assets of 0.96 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 Scaled Net Operating Assets for a REITs company?
A good Scaled Net Operating Assets depends on the REITs industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on National Storage Affiliates Trust and its competitors. National Storage Affiliates Trust's current Scaled Net Operating Assets is 0.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Storage Affiliates Trust stock overvalued right now?
Based on GuruFocus' analysis, National Storage Affiliates Trust (NSA) is currently considered Fairly Valued. The stock's GF Value™ is $40.60, compared to a current price of $44.84 — trading 10.4% above its estimated fair value. The current Scaled Net Operating Assets is 0.96. National Storage Affiliates Trust's overall GF Score™ is 81/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For National Storage Affiliates Trust (NSA), the current Scaled Net Operating Assets is 0.96 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 National Storage Affiliates Trust (NSA) Overvalued in 2026?

Based on GuruFocus' analysis, National Storage Affiliates Trust stock appears to be overvalued. The current stock price of $44.84 is trading 10.4% above its estimated GF Value™ of $40.60. GuruFocus considers National Storage Affiliates Trust to be Fairly Valued.

Key valuation signals for NSA:

  • Scaled Net Operating Assets: 0.96
  • GF Value™: $40.60 vs. price of $44.84 (10.4% above fair value)
  • GF Score™: 81/100 with 11 warning signs

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


National Storage Affiliates Trust Business Description

Industry Real EstateREITs
Other Exchanges NSApA.PFD:USANSAT34:Brazil
Address 8400 East Prentice Avenue, 9th Floor, Greenwood Village, CO, USA, 80111
National Storage Affiliates Trust Trust is a real estate investment trust. The company owns, operates, and acquires self-storage properties located within the metropolitan statistical areas throughout the United States. With the help of property management platform, the company manages and controls the day-to-day operations and affairs of consolidated properties and unconsolidated real estate ventures under the iStorage, SecurCare, RightSpace, Northwest and Move It brands.
81GF Score

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

$44.84
Price
$40.60
GF Value