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Real Estate Self-Storage REITs Salt Lake City, Utah Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$3.4B
                    3y CAGR +20.6%
                    
                    P93
                    
                    +3.7%
                    
                    Net income
                    FY2025
                
$974.0M
                    Net margin +28.8%
                    
                    P67
                    
                    +14.0%
                    
                    Total assets
                    FY2025
                
$29.3B
                    ROA +3.3%
                    
                    P45
                    
                    +1.4%
                    
                    Operating cash flow
                    FY2025
                
$1.9B
                    
                    -2.0%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

24 accounts · 5 years

Total assets $29.3B

Total liabilities $14.9B

Shareholders equity $13.4B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	4.1%	4.2%	3.9%	4.8%	4.5%
Accounts Receivable	4.2%	4.0%	5.3%	4.5%	—
Other Current Assets	15.3%	16.9%	23.3%	21.5%	10.1%
Property,Plant and Equipment	1.9%	1.5%	1.9%	2.2%	0.0%
Operating Lease Assets	21.7%	21.2%	8.9%	11.5%	14.5%
Goodwill	5.1%	5.2%	6.7%	8.9%	—
Intangible Assets	0.3%	1.0%	2.6%	7.5%	8.3%
Other Noncurrent Assets	15.3%	16.9%	23.3%	21.5%	10.1%
Total Assets	866.4%	885.7%	1072.4%	632.3%	664.1%
Liabilities
Operating Lease Liabilities	22.5%	21.7%	9.2%	11.9%	14.8%
Other Current Liabilities	15.3%	16.5%	15.0%	15.1%	18.5%
Total Current Liabilities	442.3%	429.5%	470.4%	420.4%	424.0%
Long Term Debt	0.0%	0.0%	0.0%	0.0%	0.0%
Operating Lease Liabilities Noncurrent	22.5%	21.7%	9.2%	11.9%	14.8%
Deferred Tax Liabilities	0.0%	1.9%	2.3%	2.2%	2.6%
Other Noncurrent Liabilities	15.3%	16.5%	15.0%	15.1%	18.5%
Total Liabilities	442.3%	429.5%	470.4%	420.4%	424.0%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.1%	0.1%	0.1%	0.1%	0.1%
Additional Paid In Capital	440.6%	455.4%	576.1%	173.9%	208.3%
Retained Earnings	-42.9%	-27.6%	-14.8%	-7.1%	-8.1%
Accumulated Other Comprehensive Income	-0.0%	0.4%	0.7%	2.5%	-2.7%
Total Stockholders Equity	397.7%	428.2%	562.1%	169.4%	197.6%
Total Liabilitiesand Equity	866.4%	885.7%	1072.4%	632.3%	664.1%

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $3.4B

Operating income $1.4B

Net income $974.0M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	27.2%	25.5%	23.9%	22.6%	23.4%
Expenses Selling,General and Administrative	5.5%	5.1%	5.7%	6.7%	6.5%
Expenses Depreciation and Amortization	21.2%	24.0%	19.8%	15.0%	15.3%
Expenses Share Based Compensation	1.1%	0.9%	1.0%	1.1%	1.1%
Expenses Operating Expenses	55.9%	57.0%	54.3%	46.2%	47.1%
Other Income Expense Operating Income	41.8%	40.6%	45.7%	54.6%	61.9%
Other Income Expense Interest Income	4.8%	3.8%	3.3%	3.6%	3.2%
Other Income Expense Interest Expense	0.1%	0.1%	16.4%	11.4%	10.5%
Other Income Expense Income Before Tax	27.9%	26.2%	31.9%	46.8%	54.5%
Income Tax Income Tax Expense	1.2%	1.0%	0.8%	1.1%	1.3%
net Income net Income	28.8%	26.2%	31.4%	44.7%	52.5%
net Income Comprehensive Income	28.4%	26.1%	30.1%	49.5%	56.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	6.3%	6.5%	6.6%	7.0%	8.5%
Earnings Per Share Weighted Average Shares Diluted	6.3%	6.5%	6.6%	7.4%	8.9%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 5 years

Operating cash flow $1.9B

Investing cash flow $-814.2M

Financing cash flow $-1.0B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	28.8%	26.2%	31.4%	44.7%	52.5%
Operating Activities Depreciation and Amortization	21.2%	24.0%	19.8%	15.0%	15.3%
Operating Activities Stock Based Compensation	1.1%	0.9%	1.0%	1.1%	1.1%
Operating Activities Deferred Income Taxes	0.1%	-0.0%	-0.1%	0.1%	0.1%
Operating Activities Changes In Operating Assets and Liabilities	-1.3%	1.9%	-0.1%	0.4%	-0.6%
Operating Activities Other Non Cash Items	-1.3%	1.9%	-0.1%	0.4%	-0.6%
Operating Activities net Cash From Operating Activities	54.8%	58.0%	54.8%	64.3%	60.4%
Investing Activities net Cash From Investing Activities	-24.1%	-50.6%	-71.0%	-85.7%	-53.1%
Financing Activities Proceeds From Debt	479.1%	266.7%	277.8%	269.6%	361.8%
Financing Activities Repayment of Debt	510.7%	267.9%	276.9%	218.7%	348.7%
Financing Activities Repurchase of Common Stock	4.4%	0.0%	0.0%	3.3%	0.0%
Financing Activities Dividends Paid	40.7%	42.2%	40.9%	41.9%	38.1%
Financing Activities net Cash From Financing Activities	-30.7%	-6.2%	16.5%	22.4%	-10.6%
Cash Reconciliation Effect of Exchange Rate On Cash	4.2%	4.4%	4.1%	5.1%	4.8%
Cash Reconciliation net Change In Cash	-0.0%	1.2%	0.3%	1.1%	-3.3%
Cash Reconciliation Cash At Beginning of Period	4.2%	4.4%	4.1%	5.1%	4.8%
Cash Reconciliation Cash At End of Period	4.2%	4.4%	4.1%	5.1%	4.8%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+72.8%	+74.5%	+76.1%	+77.4%	+76.6%
Operating margin	+41.8%	+40.6%	+45.7%	+54.6%	+61.9%
Net margin	+28.8%	+26.2%	+31.4%	+44.7%	+52.5%
FCF margin	—	—	—	—	—
Growth
Revenue CAGR (3y)	+20.6%	+27.3%	+23.6%	+13.7%	+9.6%
Returns
ROE	+7.3%	+6.1%	+5.6%	+26.4%	+26.6%
ROA	+3.3%	+3.0%	+2.9%	+7.1%	+7.9%
ROIC	+10.2%	+9.2%	+8.0%	+32.4%	+31.3%
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	0.02x	0.02x	0.02x	0.02x	—
Leverage
D/E	1.11x	1.00x	0.84x	2.48x	2.15x
Interest coverage	315.97x	280.25x	2.79x	4.79x	5.87x
Efficiency
Asset turnover	0.12x	0.11x	0.09x	0.16x	0.15x
Cash conversion cycle	—	—	—	—	—

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