
National Storage (NSA) | Financial Analysis & Statements
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Mar 2025Income Metrics
Revenue
188.4M
Gross Profit
133.2M
70.74%
Operating Income
67.5M
35.84%
Net Income
19.5M
10.36%
EPS (Diluted)
$0.10
Balance Sheet Metrics
Total Assets
5.3B
Total Liabilities
3.6B
Shareholders Equity
1.7B
Debt to Equity
2.11
Cash Flow Metrics
Operating Cash Flow
81.9M
Free Cash Flow
79.8M
Revenue & Profitability Trend
National Storage Income Statement From 2020 to 2024
Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Revenue | 770.3M | 858.1M | 801.6M | 585.7M | 432.2M |
Cost of Goods Sold | 211.9M | 229.0M | 211.0M | 155.3M | 123.5M |
Gross Profit | 558.5M | 629.1M | 590.5M | 430.4M | 308.7M |
Gross Margin % | 72.5% | 73.3% | 73.7% | 73.5% | 71.4% |
Operating Expenses | |||||
Research & Development | - | - | - | - | - |
Selling, General & Administrative | 57.6M | 59.3M | 59.3M | 51.0M | 43.6M |
Other Operating Expenses | 13.9M | 11.1M | 8.5M | 2.9M | 808.0K |
Total Operating Expenses | 71.5M | 70.4M | 67.8M | 53.9M | 44.4M |
Operating Income | 297.2M | 336.7M | 289.5M | 218.2M | 147.1M |
Operating Margin % | 38.6% | 39.2% | 36.1% | 37.3% | 34.0% |
Non-Operating Items | |||||
Interest Income | - | - | - | - | - |
Interest Expense | 154.3M | 166.1M | 110.6M | 72.1M | 62.6M |
Other Non-Operating Income | 44.1M | 68.0M | 9.5M | 2.4M | -3.4M |
Pre-tax Income | 187.0M | 238.6M | 188.5M | 148.6M | 81.1M |
Income Tax | 3.8M | 1.6M | 4.7M | 1.7M | 1.7M |
Effective Tax Rate % | 2.0% | 0.7% | 2.5% | 1.1% | 2.1% |
Net Income | 183.3M | 237.0M | 183.8M | 146.9M | 79.5M |
Net Margin % | 23.8% | 27.6% | 22.9% | 25.1% | 18.4% |
Key Metrics | |||||
EBITDA | 471.2M | 565.2M | 529.5M | 380.9M | 263.3M |
EPS (Basic) | $1.18 | $1.58 | $0.99 | $1.13 | $0.53 |
EPS (Diluted) | $1.18 | $1.48 | $0.99 | $0.98 | $0.53 |
Basic Shares Outstanding | 76844000 | 86846000 | 91239000 | 81195000 | 66547000 |
Diluted Shares Outstanding | 76844000 | 86846000 | 91239000 | 81195000 | 66547000 |
Income Statement Trend
National Storage Balance Sheet From 2020 to 2024
Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Assets | |||||
Current Assets | |||||
Cash & Equivalents | 50.4M | 65.0M | 35.3M | 25.0M | 18.7M |
Short-term Investments | - | - | - | - | - |
Accounts Receivable | 8.7M | 9.8M | 13.1M | 6.2M | 2.7M |
Inventory | - | - | - | - | - |
Other Current Assets | 11.4M | 14.7M | 26.2M | 9.6M | - |
Total Current Assets | 89.1M | 674.7M | 91.0M | 50.6M | 40.3M |
Non-Current Assets | |||||
Property, Plant & Equipment | 20.9M | 22.3M | 23.8M | 22.2M | 23.1M |
Goodwill | 162.6M | 73.1M | 62.6M | 85.7M | 54.9M |
Intangible Assets | 146.3M | 56.7M | 46.2M | 69.3M | 38.6M |
Long-term Investments | 22.6M | 29.6M | 51.5M | 0 | 0 |
Other Non-Current Assets | 5.6M | 8.4M | 1.4M | 2.4M | 2.5M |
Total Non-Current Assets | 5.3B | 5.3B | 6.0B | 5.5B | 3.5B |
Total Assets | 5.4B | 5.9B | 6.1B | 5.6B | 3.5B |
Liabilities | |||||
Current Liabilities | |||||
Accounts Payable | - | - | - | 59.3M | 47.0M |
Short-term Debt | 443.3M | 381.0M | 496.0M | 490.0M | 174.0M |
Current Portion of Long-term Debt | - | - | - | - | - |
Other Current Liabilities | - | - | - | - | - |
Total Current Liabilities | 562.0M | 501.1M | 599.6M | 571.5M | 237.5M |
Non-Current Liabilities | |||||
Long-term Debt | 3.0B | 3.3B | 3.1B | 2.5B | 1.8B |
Deferred Tax Liabilities | - | - | - | - | - |
Other Non-Current Liabilities | - | - | - | - | - |
Total Non-Current Liabilities | 3.0B | 3.3B | 3.1B | 2.5B | 1.8B |
Total Liabilities | 3.6B | 3.8B | 3.7B | 3.1B | 2.1B |
Equity | |||||
Common Stock | 763.0K | 823.0K | 898.0K | 912.0K | 713.0K |
Retained Earnings | -530.7M | -449.9M | -396.6M | -291.3M | -251.7M |
Treasury Stock | - | - | - | - | - |
Other Equity | - | - | - | - | - |
Total Shareholders Equity | 1.8B | 2.1B | 2.4B | 2.5B | 1.4B |
Key Metrics | |||||
Total Debt | 3.5B | 3.7B | 3.6B | 3.0B | 1.9B |
Working Capital | -472.9M | 173.6M | -508.6M | -520.9M | -197.1M |
Balance Sheet Composition
National Storage Cash Flow Statement From 2020 to 2024
Metric | 2024 | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|---|
Operating Activities | |||||
Net Income | 183.3M | 237.0M | 183.8M | 146.9M | 79.5M |
Depreciation & Amortization | 189.9M | 222.0M | 233.2M | 158.3M | 117.2M |
Stock-Based Compensation | 8.3M | 6.7M | 6.3M | 5.5M | 4.3M |
Working Capital Changes | -5.4M | 4.6M | -10.9M | -4.8M | -4.2M |
Operating Cash Flow | 382.2M | 477.2M | 417.0M | 308.6M | 198.7M |
Investing Activities | |||||
Capital Expenditures | - | - | - | - | -364.0K |
Acquisitions | -74.2M | -16.9M | -55.0M | -2.9M | -4.4M |
Investment Purchases | - | - | - | 0 | 0 |
Investment Sales | - | - | 0 | 0 | 7.6M |
Investing Cash Flow | -73.3M | -16.9M | -55.0M | -2.9M | 2.8M |
Financing Activities | |||||
Share Repurchases | -284.7M | -310.2M | -90.1M | 0 | 0 |
Dividends Paid | -192.3M | -209.9M | -209.1M | -144.8M | -103.2M |
Debt Issuance | 1.3B | 1.3B | 1.6B | 2.3B | 929.5M |
Debt Repayment | -1.5B | -1.2B | -960.4M | -1.3B | -546.1M |
Financing Cash Flow | -825.4M | -557.2M | 154.6M | 1.7B | 286.5M |
Free Cash Flow | 309.8M | 406.0M | 400.1M | 303.3M | 203.9M |
Net Change in Cash | -516.5M | -96.9M | 516.6M | 2.0B | 488.0M |
Cash Flow Trend
National Storage Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
50.24
Forward P/E
36.65
Price to Book
3.61
Price to Sales
6.18
PEG Ratio
2.68
Profitability Ratios
Profit Margin
9.16%
Operating Margin
33.70%
Return on Equity
6.16%
Return on Assets
3.09%
Financial Health
Current Ratio
0.81
Debt to Equity
209.41
Beta
1.13
Per Share Data
EPS (TTM)
$0.62
Book Value per Share
$8.64
Revenue per Share
$9.73
Peer Financial Comparison
Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
---|---|---|---|---|---|---|
nsa | 4.6B | 50.24 | 3.61 | 6.16% | 9.16% | 209.41 |
Prologis | 102.8B | 29.85 | 1.95 | 6.37% | 38.69% | 61.59 |
Public Storage | 50.4B | 31.34 | 10.04 | 18.92% | 38.06% | 110.17 |
Lineage Logistics | 10.0B | -10.83 | 1.06 | -8.17% | -10.57% | 83.74 |
Rexford Industrial | 9.7B | 29.44 | 1.07 | 3.75% | 32.18% | 36.51 |
CubeSmart | 9.2B | 24.37 | 3.24 | 13.04% | 34.20% | 118.36 |
Financial data is updated regularly. All figures are in the company's reporting currency.