National Storage Affiliates Trust (NSA)

NSA Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Rental Revenue	727.91	793.97	748.81	541.55	394.66	354.86
Property Management Fees	39.56	34.41	27.62	24.37	23.04	20.74
Other Revenue	19.45	37.24	32.88	25.04	14.79	7.33
Total Revenue	786.92	865.62	809.31	590.97	432.49	382.93
Revenue Growth (YoY	-8.39%	6.96%	36.95%	36.64%	12.94%	16.22%
Property Expenses	202.42	215.35	203.77	150.61	120.11	106.46
Selling, General & Administrative	75.23	74.58	69.31	57.6	49.44	49.23
Depreciation & Amortization	195.69	221.99	233.16	158.31	117.17	105.12
Other Operating Expenses	13.09	11.63	2.15	2.85	0.81	1.55
Total Operating Expenses	486.43	523.55	508.39	369.37	287.53	262.36
Operating Income	300.49	342.07	300.93	221.59	144.96	120.56
Interest Expense	-160.36	-166.15	-110.6	-72.06	-62.6	-56.46
Other Non-Operating Income	-0.24	-1.02	-0.95	-0.91	-1.21	0.45
EBT Excluding Unusual Items	139.89	174.9	189.38	148.63	81.15	64.55
Gain (Loss) on Sale of Assets	127.75	63.91	5.47	-	-	2.81
Other Unusual Items	-0.32	-0.24	-6.39	-	-	-
Pretax Income	266.22	238.58	188.45	148.63	81.15	67.36
Income Tax Expense	1.03	1.59	4.69	1.69	1.67	1.35
Earnings From Continuing Operations	265.2	236.99	183.77	146.94	79.48	66.01
Minority Interest in Earnings	-101.38	-80.32	-80.03	-41.68	-30.87	-62.03
Net Income	163.82	156.67	103.74	105.25	48.61	3.98
Preferred Dividends & Other Adjustments	20.49	19.08	13.48	13.16	13.14	12.43
Net Income to Common	143.33	137.59	90.25	92.09	35.47	-8.44
Net Income Growth	37.77%	51.03%	-1.44%	116.53%	1120.41%	-71.77%
Basic Shares Outstanding	78	87	91	81	67	58
Diluted Shares Outstanding	93	146	91	135	67	58
Shares Change (YoY)	-30.19%	60.04%	-32.18%	101.99%	14.43%	9.22%
EPS (Basic)	1.83	1.58	0.99	1.13	0.53	-0.15
EPS (Diluted)	1.83	1.48	0.99	0.98	0.53	-0.15
EPS Growth	71.81%	49.39%	0.58%	85.57%	-	-
Dividend Per Share	2.240	2.230	2.150	1.590	1.350	1.270
Dividend Growth	0.90%	3.72%	35.22%	17.78%	6.30%	9.48%
Operating Margin	38.19%	39.52%	37.18%	37.50%	33.52%	31.48%
Profit Margin	18.21%	15.90%	11.15%	15.58%	8.20%	-2.20%
Free Cash Flow Margin	47.90%	51.01%	54.84%	56.07%	51.02%	51.35%
EBITDA	496.18	564.06	534.08	379.91	262.13	225.68
EBITDA Margin	63.05%	65.16%	65.99%	64.29%	60.61%	58.94%
D&A For Ebitda	195.69	221.99	233.16	158.31	117.17	105.12
EBIT	300.49	342.07	300.93	221.59	144.96	120.56
EBIT Margin	38.19%	39.52%	37.18%	37.50%	33.52%	31.48%
Funds From Operations (FFO)	307.74	341.53	353.89	255.39	166.91	139.15
FFO Per Share	-	2.67	2.74	2.24	1.69	1.53
Adjusted Funds From Operations (AFFO)	-	341.53	353.89	255.39	166.91	139.15
FFO Payout Ratio	56.67%	55.90%	55.30%	51.57%	54.01%	53.57%
Effective Tax Rate	0.39%	0.67%	2.49%	1.14%	2.06%	2.01%
Revenue as Reported	795.63	858.06	801.57	585.67	432.22	387.9

Source: S&P Capital IQ. Real Estate template. Financial Sources.