NSA - National Storage Affiliates Trust
Price:
--
--
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CONSENSUS:
Hold
DETAILS
|
PRICE TARGET:
$35.50
DETAILS
HIGH:
$42.00
LOW:
$32.00
MEDIAN:
$33.00
CONSENSUS:
$35.50
DOWNSIDE:
16.88%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||
| Revenue | 752.9 | 770.3 | 858.1 | 801.6 | 585.7 | 432.2 | 382.9 | 330.9 | 268.1 | 199.0 | 133.9 | 77.0 | 40.2 | 29.3 |
| Cost of Revenue | 406.9 | 211.9 | 229.0 | 211.0 | 155.3 | 123.5 | 106.5 | 103.9 | 84.5 | 64.8 | 45.4 | 27.9 | 18.2 | 11.7 |
| Gross Profit | 346.1 | 558.5 | 629.1 | 590.5 | 430.4 | 308.7 | 276.5 | 227.0 | 183.7 | 134.2 | 88.5 | 49.1 | 22.0 | 17.6 |
| Operating Expenses | ||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 51.1 | 57.6 | 59.3 | 59.3 | 51.0 | 43.6 | 48.9 | 35.9 | 30.1 | 21.5 | 16.3 | 9.9 | 4.7 | 2.8 |
| Other Expenses | 16.3 | 203.7 | 233.1 | 241.7 | 161.2 | 265.1 | 0.3 | (0.1) | (0.1) | (0.5) | (0.3) | (1.3) | 0 | 0.0 |
| Operating Expenses | 67.4 | 261.3 | 292.4 | 301.0 | 212.2 | 308.7 | 49.2 | 125.4 | 105.2 | 76.6 | 56.9 | 32.0 | 14.1 | 5.7 |
| Operating Income | ||||||||||||||
| Operating Income | 278.6 | 297.2 | 336.7 | 289.5 | 218.2 | 0 | 227.2 | 101.7 | 78.5 | 57.7 | 31.6 | 17.1 | 7.9 | 11.8 |
| Interest Expense | 162.4 | 154.3 | 166.1 | 110.6 | 72.1 | 62.6 | 56.5 | 42.7 | 34.1 | 24.1 | 20.8 | 23.0 | 0 | 17.1 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19.6 | 0 |
| Profitability | ||||||||||||||
| EBITDA | 471.1 | 531.2 | 626.7 | 532.2 | 379.0 | 260.9 | 225.7 | 188.7 | 150.7 | 112.7 | 72.2 | 40.9 | 17.3 | 15.7 |
| EBIT | 281.8 | 341.3 | 404.7 | 299.1 | 220.7 | 143.7 | 120.6 | 99.9 | 81.2 | 49.3 | 25.8 | 6.7 | 7.9 | 13.6 |
| Income Before Tax | 119.4 | 187.0 | 238.6 | 188.5 | 148.6 | 81.1 | 67.4 | 57.1 | 47.2 | 24.9 | 4.8 | (16.4) | (11.7) | (3.5) |
| Income Tax Expense | 3.1 | 3.8 | 1.6 | 4.7 | 1.7 | 1.7 | 1.4 | 0.8 | 1.2 | 13.6 | (2.0) | (16.4) | 0 | 0 |
| Net Income | 73.8 | 111.5 | 156.7 | 103.7 | 105.3 | 48.6 | 4.0 | 14.1 | 3.0 | 18.0 | 12.4 | 0 | (1.3) | (3.5) |
| Per Share Data | ||||||||||||||
| EPS (Basic) | 0.70 | 1.18 | 2.48 | 0.99 | 1.13 | 0.53 | 1.13 | 0.26 | 0.01 | 0.60 | 0.80 | – | -0.06 | -0.17 |
| EPS (Diluted) | 0.70 | 1.18 | 1.48 | 0.99 | 1.09 | 0.53 | 1.13 | 0.26 | 0.01 | 0.31 | 0.19 | – | -0.06 | -0.17 |
| Shares Outstanding | 76.6 | 76.8 | 86.8 | 91.2 | 81.2 | 66.5 | 58.2 | 53.3 | 44.4 | 29.9 | 15.5 | 20 | 20 | 20 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 23.6 | 50.4 | 65.0 | 35.3 | 25.0 | 18.7 | 24.3 | 13.2 | 13.4 | 12.6 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 18.0 | 26.9 | 22.1 | 22.7 | 13.1 | 2.7 | 10.3 | 3.4 | 4.5 | 3.6 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (14.3) | 1.6 | 13.9 |
| Other Current Assets | 0 | 11.7 | 587.7 | 33.0 | 2.9 | 18.9 | (34.6) | 7.4 | 7.0 | 4.6 |
| Total Current Assets | 41.7 | 89.1 | 674.7 | 91.0 | 50.6 | 40.3 | 0 | 16.4 | 18.0 | 29.3 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 20.6 | 24.0 | 25.0 | 25.4 | 24.4 | 3,220.4 | 25.2 | 22.6 | 6.5 | 1.7 |
| Goodwill | 0 | 8.2 | 8.2 | 8.2 | 8.2 | 8.2 | 0 | 5.8 | 5.8 | 5.8 |
| Intangible Assets | 107.1 | 146.3 | 56.7 | 46.2 | 69.3 | 38.6 | 0 | 16.3 | 19.6 | 23.0 |
| Long-Term Investments | 4,839.3 | 246.2 | 211.4 | 227.4 | 188.2 | 202.5 | 0 | 245.1 | 89.1 | 81.5 |
| Other Non-Current Assets | (4,946.4) | 4,840.7 | 4,955.9 | 5,671.8 | 5,221.9 | 3.6 | (52.2) | 75.1 | 52.6 | 44.7 |
| Total Non-Current Assets | 20.6 | 5,265.4 | 5,257.1 | 5,979.0 | 5,512.0 | 3,473.2 | 0 | 2,712.9 | 2,248.8 | 1,862.8 |
| Total Assets | 5,080.1 | 5,354.5 | 5,931.8 | 6,070.0 | 5,562.6 | 3,513.6 | 3,084.2 | 2,729.3 | 2,266.7 | 1,892.1 |
| Current Liabilities | ||||||||||
| Account Payables | 0 | 0 | 0 | 0 | 59.3 | 47.0 | 0 | 33.1 | 24.5 | 21.6 |
| Short-Term Debt | 376.7 | 443.3 | 381 | 496 | 490 | 0 | 39.5 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 20.0 | 27.4 | 23.2 | 22.2 | 0 | 0 | 15.7 | 12.7 | 12.5 |
| Other Current Liabilities | 0 | 98.7 | 92.8 | 80.4 | 0 | 0 | (39.5) | (33.1) | (24.5) | (21.6) |
| Total Current Liabilities | 376.7 | 562.0 | 501.1 | 599.6 | 571.5 | 49.0 | 0 | 188.4 | 125.6 | 280.6 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 3,030.7 | 3,005.8 | 3,277.2 | 3,055.2 | 2,450.9 | 1,994.9 | 1,494.6 | 0 | 0 | 632.5 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (999.1) | (781.1) | (386.0) |
| Other Non-Current Liabilities | 98.7 | 0.5 | 3.5 | 0.5 | 33.8 | 16.4 | (1,534.7) | 1,122.9 | 856.9 | 255.7 |
| Total Non-Current Liabilities | 3,169.7 | 3,029.1 | 3,304.8 | 3,081.4 | 2,508.7 | 2,034.1 | 0 | 1,138.6 | 869.6 | 632.5 |
| Total Liabilities | 3,546.3 | 3,591.1 | 3,806.0 | 3,681.0 | 3,080.1 | 2,083.1 | 1,632.1 | 1,327.0 | 995.2 | 913.0 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.8 | 0.8 | 0.8 | 0.9 | 0.9 | 0.7 | 0.6 | 0.6 | 0.5 | 0.4 |
| Retained Earnings | (652.2) | (530.7) | (449.9) | (396.6) | (291.3) | 0 | (197.1) | (114.1) | (55.7) | (8.7) |
| Accumulated Other Comprehensive Income | 4.4 | 15.5 | 21.1 | 40.5 | (19.6) | (300.8) | 0 | 13.6 | 12.3 | 9.0 |
| Total Stockholders' Equity | 946.0 | 1,076.0 | 1,422.2 | 1,648.2 | 1,775.2 | 969.0 | 919.6 | 916.8 | 841.0 | 577.1 |
| Total Liabilities & Equity | 5,080.1 | 5,354.5 | 5,931.8 | 6,070.0 | 5,562.6 | 3,513.6 | 3,084.2 | 2,729.3 | 2,266.7 | 1,892.1 |
| Debt Metrics | ||||||||||
| Total Debt | 3,427.7 | 3,472.0 | 3,682.4 | 3,576.9 | 2,964.9 | 2,019.6 | 1,558.7 | 1,278.1 | 958.1 | 879.0 |
| Net Debt | 3,404.1 | 3,421.6 | 3,617.4 | 3,541.6 | 2,939.9 | 2,000.9 | 1,534.4 | 1,264.9 | 944.7 | 866.4 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 122.5 | 183.3 | 237.0 | 183.8 | 146.9 | 79.5 | 66.0 | 56.3 | 46.0 | 24.9 |
| Depreciation & Amortization | 189.3 | 189.9 | 222.0 | 233.2 | 158.3 | 117.2 | 105.1 | 89.1 | 75.1 | 55.1 |
| Stock-Based Compensation | 12.2 | 8.3 | 6.7 | 6.3 | 5.5 | 4.3 | 4.5 | 3.8 | 3.8 | 2.6 |
| Change in Working Capital | 3.5 | (0.1) | 16.8 | 5.6 | 3.6 | 3.2 | 3.4 | 2.2 | (2.9) | 10.2 |
| Other Non-Cash Items | 11.0 | (18.3) | (40.9) | 15.0 | 17.1 | 16.5 | 1.5 | 1.1 | 0.6 | (0.0) |
| Operating Cash Flow | 338.5 | 363.1 | 441.6 | 443.8 | 331.3 | 220.7 | 196.7 | 161.8 | 124.3 | 95.1 |
| Investing Activities | ||||||||||
| Capital Expenditure | (38.7) | (20.6) | (35.5) | (43.7) | (28.0) | (16.8) | (21.5) | (19.4) | (15.2) | (11.9) |
| Acquisitions | 0 | (74.2) | (16.9) | (55.0) | (2.9) | (4.4) | (6.6) | (165.6) | (15.3) | (102.9) |
| Purchases of Investments | 0 | 0 | 0 | (551.4) | 0 | 0 | (12.7) | (479.4) | (406.9) | (615.5) |
| Sales/Maturities of Investments | 0 | 0 | 0 | 11.0 | 0 | 7.6 | 5.4 | 5.3 | 17.5 | 4.8 |
| Other Investing Activities | 58.5 | 552.9 | 213.6 | 55.0 | (1,967.2) | (512.5) | (357.7) | (329.4) | (378.8) | (528.0) |
| Investing Cash Flow | 19.9 | 425.4 | 161.1 | (584.2) | (1,998.0) | (509.7) | (393.0) | (514.5) | (409.3) | (642.9) |
| Financing Activities | ||||||||||
| Net Debt Issuance | (47.5) | (209.5) | 108.2 | 611.6 | 1,026.3 | 383.4 | 260.4 | 315.3 | 81.8 | 253.9 |
| Stock Repurchased | 0 | (284.7) | (310.2) | (90.1) | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | (195.4) | (192.3) | (209.9) | (209.1) | (144.8) | (103.2) | (86.9) | (72.5) | (50.0) | (26.7) |
| Other Financing Activities | (142.6) | (138.9) | (145.3) | (157.8) | (109.7) | (77.2) | (84.7) | (66.9) | (60.7) | (54.1) |
| Financing Cash Flow | (385.5) | (825.4) | (557.2) | 154.6 | 1,672.9 | 286.5 | 204.3 | 352.6 | 286.1 | 553.7 |
| Cash Position | ||||||||||
| Net Change in Cash | (27.1) | (36.9) | 45.5 | 14.3 | 6.2 | (2.6) | 7.9 | (0.0) | 1.1 | 5.9 |
| Cash at Beginning | 50.8 | 87.7 | 42.2 | 27.9 | 21.7 | 24.3 | 16.4 | 16.4 | 15.3 | 6.7 |
| Cash at End | 23.6 | 50.8 | 87.7 | 42.2 | 27.9 | 21.7 | 24.3 | 16.4 | 16.4 | 12.6 |
| Free Cash Flow | 299.8 | 342.5 | 406.0 | 400.1 | 303.3 | 203.9 | 175.2 | 142.4 | 109.0 | 83.1 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||||
| Revenue | 752.9 | 770.3 | 858.1 | 801.6 | 585.7 | 432.2 | 382.9 | 330.9 | 268.1 | 199.0 | 133.9 | 77.0 | 40.2 | 29.3 |
| Gross Profit | 346.1 | 558.5 | 629.1 | 590.5 | 430.4 | 308.7 | 276.5 | 227.0 | 183.7 | 134.2 | 88.5 | 49.1 | 22.0 | 17.6 |
| Operating Income | 278.6 | 297.2 | 336.7 | 289.5 | 218.2 | 0 | 227.2 | 101.7 | 78.5 | 57.7 | 31.6 | 17.1 | 7.9 | 11.8 |
| Net Income | 73.8 | 111.5 | 156.7 | 103.7 | 105.3 | 48.6 | 4.0 | 14.1 | 3.0 | 18.0 | 12.4 | 0 | (1.3) | (3.5) |
| EPS (Diluted) | 0.70 | 1.18 | 1.48 | 0.99 | 1.09 | 0.53 | 1.13 | 0.26 | 0.01 | 0.31 | 0.19 | – | -0.06 | -0.17 |
| Balance Sheet | ||||||||||||||
| Cash & Equivalents | 23.6 | 50.4 | 65.0 | 35.3 | 25.0 | 18.7 | 24.3 | 13.2 | 13.4 | 12.6 | ||||
| Total Assets | 5,080.1 | 5,354.5 | 5,931.8 | 6,070.0 | 5,562.6 | 3,513.6 | 3,084.2 | 2,729.3 | 2,266.7 | 1,892.1 | ||||
| Total Debt | 3,427.7 | 3,472.0 | 3,682.4 | 3,576.9 | 2,964.9 | 2,019.6 | 1,558.7 | 1,278.1 | 958.1 | 879.0 | ||||
| Stockholders' Equity | 946.0 | 1,076.0 | 1,422.2 | 1,648.2 | 1,775.2 | 969.0 | 919.6 | 916.8 | 841.0 | 577.1 | ||||
| Cash Flow | ||||||||||||||
| Operating Cash Flow | 338.5 | 363.1 | 441.6 | 443.8 | 331.3 | 220.7 | 196.7 | 161.8 | 124.3 | 95.1 | ||||
| Capital Expenditure | (38.7) | (20.6) | (35.5) | (43.7) | (28.0) | (16.8) | (21.5) | (19.4) | (15.2) | (11.9) | ||||
| Free Cash Flow | 299.8 | 342.5 | 406.0 | 400.1 | 303.3 | 203.9 | 175.2 | 142.4 | 109.0 | 83.1 | ||||