NSA Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	677.23	678.49	700.25	793.97	748.81	541.55
Property Management Fees	48	48.53	42.73	34.41	27.62	24.37
Other Revenue	24.32	18.58	11.29	37.24	32.88	25.04
Total Revenue	749.54	745.6	754.26	865.62	809.31	590.97
Revenue Growth (YoY	0.97%	-1.15%	-12.86%	6.96%	36.95%	36.64%
Property Expenses	174.05	179.57	181.32	196.35	203.77	150.61
Selling, General & Administrative	96.73	95.83	91.76	93.58	69.31	57.6
Depreciation & Amortization	187.34	189.32	189.86	221.99	233.16	158.31
Other Operating Expenses	14.91	16.29	13.87	11.63	2.15	2.85
Total Operating Expenses	473.04	481.01	476.8	523.55	508.39	369.37
Operating Income	276.51	264.59	277.47	342.07	300.93	221.59
Interest Expense	-161.23	-162.45	-154.26	-166.15	-110.6	-72.06
Other Non-Operating Income	0.27	0.93	0.31	-1.02	-0.95	-0.91
EBT Excluding Unusual Items	115.55	103.08	123.52	174.9	189.38	148.63
Merger & Restructuring Charges	-9.98	-	-	-	-	-
Gain (Loss) on Sale of Assets	21.33	16.29	63.84	63.91	5.47	-
Other Unusual Items	-	-	-0.32	-0.24	-6.39	-
Pretax Income	126.9	119.38	187.04	238.58	188.45	148.63
Income Tax Expense	2.46	3.1	3.77	1.59	4.69	1.69
Earnings From Continuing Operations	124.44	116.27	183.27	236.99	183.77	146.94
Minority Interest in Earnings	-45.87	-42.49	-71.75	-80.32	-80.03	-41.68
Net Income	78.57	73.78	111.52	156.67	103.74	105.25
Preferred Dividends & Other Adjustments	20.56	20.52	20.49	19.08	13.48	13.16
Net Income to Common	58.01	53.27	91.03	137.59	90.25	92.09
Net Income Growth	28.95%	-41.48%	-33.84%	52.45%	-2.00%	159.65%
Basic Shares Outstanding	77	77	77	87	91	81
Diluted Shares Outstanding	77	77	77	146	91	135
Shares Change	1.24%	-0.27%	-47.38%	60.04%	-32.18%	101.99%
EPS (Basic)	0.76	0.70	1.18	1.58	0.99	1.13
EPS (Diluted)	0.75	0.69	1.18	1.48	0.99	0.98
EPS Growth	518.78%	-41.52%	-20.15%	49.39%	0.58%	85.57%
Dividend Per Share	2.280	2.280	2.250	2.230	2.150	1.590
Dividend Growth	0.89%	1.33%	0.90%	3.72%	35.22%	17.78%
Operating Margin	36.89%	35.49%	36.79%	39.52%	37.18%	37.50%
Profit Margin	7.74%	7.14%	12.07%	15.90%	11.15%	15.58%
EBITDA	463.85	453.91	467.32	564.06	534.08	379.91
EBITDA Margin	61.88%	60.88%	61.96%	65.16%	65.99%	64.28%
D&A For Ebitda	187.34	189.32	189.86	221.99	233.16	158.31
EBIT	276.51	264.59	277.47	342.07	300.93	221.59
EBIT Margin	36.89%	35.49%	36.79%	39.52%	37.18%	37.50%
Funds From Operations (FFO)	290.03	295.01	304.12	341.53	353.89	255.39
FFO Per Share	-	2.18	2.40	2.67	2.74	2.24
Adjusted Funds From Operations (AFFO)	-	295.01	304.12	341.53	353.89	255.39
FFO Payout Ratio	60.44%	59.29%	56.50%	55.90%	55.30%	51.57%
Effective Tax Rate	1.94%	2.60%	2.01%	0.67%	2.49%	1.14%
Revenue as Reported	749.98	752.93	770.34	858.06	801.57	585.67

SEC Filings: 10-K · 10-Q