National Storage Affiliates Trust (NSA)

NSA Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Rental Revenue	676.59	678.49	700.25	793.97	748.81	541.55
Property Management Fees	47	48.53	42.73	34.41	27.62	24.37
Other Revenue	29.54	18.58	11.29	37.24	32.88	25.04
Total Revenue	753.13	745.6	754.26	865.62	809.31	590.97
Revenue Growth (YoY	1.60%	-1.15%	-12.86%	6.96%	36.95%	36.64%
Property Expenses	170.82	179.57	181.32	196.35	203.77	150.61
Selling, General & Administrative	96.37	95.83	91.76	93.58	69.31	57.6
Depreciation & Amortization	185.75	189.32	189.86	221.99	233.16	158.31
Other Operating Expenses	14.1	16.29	13.87	11.63	2.15	2.85
Total Operating Expenses	467.04	481.01	476.8	523.55	508.39	369.37
Operating Income	286.09	264.59	277.47	342.07	300.93	221.59
Interest Expense	-159.83	-162.45	-154.26	-166.15	-110.6	-72.06
Other Non-Operating Income	-0.35	0.93	0.31	-1.02	-0.95	-0.91
EBT Excluding Unusual Items	125.91	103.08	123.52	174.9	189.38	148.63
Merger & Restructuring Charges	-20.03	-	-	-	-	-
Gain (Loss) on Sale of Assets	23.46	16.29	63.84	63.91	5.47	-
Other Unusual Items	-	-	-0.32	-0.24	-6.39	-
Pretax Income	129.34	119.38	187.04	238.58	188.45	148.63
Income Tax Expense	2.96	3.1	3.77	1.59	4.69	1.69
Earnings From Continuing Operations	126.38	116.27	183.27	236.99	183.77	146.94
Minority Interest in Earnings	-46.39	-42.49	-71.75	-80.32	-80.03	-41.68
Net Income	80	73.78	111.52	156.67	103.74	105.25
Preferred Dividends & Other Adjustments	20.65	20.52	20.49	19.08	13.48	13.16
Net Income to Common	59.35	53.27	91.03	137.59	90.25	92.09
Net Income Growth	25.23%	-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	1.12%	-0.27%	-47.38%	60.04%	-32.18%	101.99%
EPS (Basic)	0.77	0.70	1.18	1.58	0.99	1.13
EPS (Diluted)	0.77	0.69	1.18	1.48	0.99	0.98
EPS Growth	25.32%	-41.52%	-20.15%	49.39%	0.58%	85.57%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share	1.140	2.280	2.250	2.230	2.150	1.590
Dividend Growth	-49.78%	1.33%	0.90%	3.72%	35.22%	17.78%
Operating Margin	37.99%	35.49%	36.79%	39.52%	37.18%	37.50%
Profit Margin	7.88%	7.14%	12.07%	15.90%	11.15%	15.58%
EBITDA	471.96	453.91	467.32	564.06	534.08	379.91
EBITDA Margin	62.67%	60.88%	61.96%	65.16%	65.99%	64.28%
D&A For Ebitda	185.87	189.32	189.86	221.99	233.16	158.31
EBIT	286.09	264.59	277.47	342.07	300.93	221.59
EBIT Margin	37.99%	35.49%	36.79%	39.52%	37.18%	37.50%
Funds From Operations (FFO)	282.84	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	-	59.29%	56.50%	55.90%	55.30%	51.57%
Effective Tax Rate	2.29%	2.60%	2.01%	0.67%	2.49%	1.14%
Revenue as Reported	746.99	752.93	770.34	858.06	801.57	585.67

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 24, 2026

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