Extra Space Storage Inc.
Income Statement
| Line Item | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.31B | $2.14B | $1.97B | $1.70B | $1.46B | $1.26B | $1.11B | $985.5M |
| Rental Revenue | $2.07B | $1.93B | $1.77B | $1.53B | $1.32B | $1.13B | $1.00B | $885.3M |
| Tenant Reimbursement | $169.5M | $158.4M | $145.4M | $126.7M | $108.9M | $94.9M | $86.2M | $77.5M |
| Management Fees | $10.6M | $9.5M | $8.7M | $7.8M | $6.7M | $5.8M | $5.2M | $4.7M |
| Other | $56.5M | $49.8M | $43.2M | $36.5M | $29.9M | $24.5M | $20.0M | $18.0M |
| Cost of Revenue | $291.7M | $272.0M | $250.0M | $204.0M | $172.4M | $140.0M | $114.0M | $95.5M |
| Gross Profit | $2.01B | $1.87B | $1.72B | $1.50B | $1.29B | $1.12B | $998.7M | $890.0M |
| Gross Margin | 87.3% | 87.3% | 87.3% | 88.0% | 88.2% | 88.9% | 89.8% | 90.3% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $81.3M | $79.0M | $81.8M | $67.8M | $60.9M | $54.2M | $50.5M | $49.7M |
| Operating Income | $619.7M | $654.4M | $458.3M | $294.7M | $278.5M | $213.5M | $157.2M | $115.5M |
| Operating Margin | 26.9% | 30.5% | 23.3% | 17.3% | 19.1% | 16.9% | 14.1% | 11.7% |
| Interest Expense | $178.4M | $153.5M | $133.5M | $95.7M | $81.3M | $71.6M | $71.9M | $67.3M |
| Pretax Income | $441.9M | $502.5M | $330.8M | $205.5M | $188.9M | $137.9M | $91.6M | $52.3M |
| Income Tax Expense | $9.2M | $3.6M | $15.8M | $11.1M | $7.6M | $10.0M | $5.4M | $1.2M |
| Net Income | $415.3M | $479.0M | $366.1M | $189.5M | $178.4M | $172.1M | $117.3M | $50.4M |
| Net Margin | 18.0% | 22.4% | 18.6% | 11.2% | 12.2% | 13.7% | 10.5% | 5.1% |
| EPS (Basic) | $3.29 | $3.79 | $2.92 | $1.58 | $1.54 | $1.54 | $1.15 | $0.55 |
| EPS (Diluted) | $3.27 | $3.76 | $2.91 | $1.56 | $1.53 | $1.53 | $1.14 | $0.54 |
| Shares Outstanding (Basic) | 126.1M | 126.0M | 125.1M | 119.8M | 115.7M | 111.3M | 101.8M | 91.3M |
| Shares Outstanding (Diluted) | 133.2M | 134.2M | 125.9M | 126.9M | 121.4M | 113.1M | 103.8M | 93.6M |
| Dividends Per Share | $3.36 | $3.12 | $2.93 | $2.24 | $1.81 | $1.45 | $0.85 | $0.56 |