Extra Balance Sheet Analysis

EXR Stock

USD 133.28 0.54 0.41%

Most accounts from Extra Space's balance sheet are interrelated and interconnected. However, analyzing balance sheet accounts one by one will only give a small insight into Extra Space Storage current financial condition. On the other hand, looking into the entire matrix of balance sheet accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Extra Space Valuation and Extra Space Correlation analysis.

At this time, Extra Space's Other Stockholder Equity is relatively stable compared to the past year. As of 04/23/2024, Total Liabilities is likely to grow to about 12.6 B, though Other Current Liabilities is likely to grow to (655.3 M).

Net Receivables Accounts Payable

	2021	2022	2023	2024 (projected)
Other Liabilities	291.5M	144.0M	165.6M	173.9M
Total Stockholder Equity	3.1B	3.3B	14.4B	15.1B

Other Liab Total Stockholder Equity

Extra Space balance sheet Correlations

	Total Assets	Common Stock Shares Outstanding	Other Current Liab	Total Stockholder Equity	Other Liab	Accounts Payable	Cash	Other Assets	Long Term Debt	Other Stockholder Equity	Total Liab	Common Stock	Property Plant Equipment	Short Long Term Debt Total	Total Current Liabilities	Property Plant And Equipment Net	Net Debt	Retained Earnings	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Non Current Liabilities Total	Property Plant And Equipment Gross	Total Current Assets
Total Assets		0.44	-0.89	0.98	0.53	1.0	0.4	0.95	0.97	0.98	0.97	-0.27	0.88	0.97	0.76	-0.15	0.97	-0.49	1.0	0.92	0.42	0.89	-0.31	0.97	-0.15	0.93
Common Stock Shares Outstanding	0.44		-0.16	0.32	0.4	0.47	0.61	0.29	0.56	0.33	0.55	-0.86	0.7	0.53	0.32	-0.19	0.53	-0.53	0.45	0.31	0.58	0.35	-0.82	0.55	-0.19	0.23
Other Current Liab	-0.89	-0.16		-0.97	-0.21	-0.87	-0.19	-0.85	-0.75	-0.97	-0.75	0.04	-0.57	-0.76	-0.52	0.08	-0.76	0.49	-0.89	-0.89	-0.21	-0.71	0.12	-0.77	0.08	-0.99
Total Stockholder Equity	0.98	0.32	-0.97		0.39	0.96	0.31	0.93	0.89	1.0	0.89	-0.19	0.75	0.89	0.66	-0.1	0.89	-0.5	0.97	0.93	0.33	0.83	-0.26	0.9	-0.1	0.99
Other Liab	0.53	0.4	-0.21	0.39		0.55	0.45	0.62	0.6	0.39	0.65	-0.21	0.68	0.64	0.77	-0.18	0.64	-0.11	0.53	0.25	0.45	0.66	-0.17	0.62	-0.18	0.3
Accounts Payable	1.0	0.47	-0.87	0.96	0.55		0.42	0.95	0.97	0.96	0.98	-0.3	0.89	0.98	0.78	-0.14	0.98	-0.49	1.0	0.91	0.44	0.91	-0.34	0.98	-0.14	0.92
Cash	0.4	0.61	-0.19	0.31	0.45	0.42		0.39	0.47	0.32	0.48	-0.48	0.54	0.46	0.43	-0.36	0.46	-0.32	0.4	0.2	1.0	0.43	-0.45	0.46	-0.36	0.3
Other Assets	0.95	0.29	-0.85	0.93	0.62	0.95	0.39		0.9	0.93	0.92	-0.12	0.79	0.92	0.86	-0.09	0.92	-0.32	0.95	0.84	0.41	0.96	-0.17	0.9	-0.09	0.9
Long Term Debt	0.97	0.56	-0.75	0.89	0.6	0.97	0.47	0.9		0.89	1.0	-0.34	0.96	1.0	0.8	-0.2	1.0	-0.44	0.97	0.87	0.48	0.9	-0.36	1.0	-0.2	0.81
Other Stockholder Equity	0.98	0.33	-0.97	1.0	0.39	0.96	0.32	0.93	0.89		0.89	-0.2	0.76	0.89	0.65	-0.1	0.89	-0.52	0.97	0.92	0.33	0.82	-0.27	0.9	-0.1	0.99
Total Liab	0.97	0.55	-0.75	0.89	0.65	0.98	0.48	0.92	1.0	0.89		-0.34	0.96	1.0	0.83	-0.19	1.0	-0.45	0.97	0.85	0.49	0.91	-0.36	1.0	-0.19	0.82
Common Stock	-0.27	-0.86	0.04	-0.19	-0.21	-0.3	-0.48	-0.12	-0.34	-0.2	-0.34		-0.49	-0.32	-0.12	0.0	-0.32	0.59	-0.27	-0.16	-0.46	-0.16	0.99	-0.34	0.0	-0.13
Property Plant Equipment	0.88	0.7	-0.57	0.75	0.68	0.89	0.54	0.79	0.96	0.76	0.96	-0.49		0.96	0.77	-0.26	0.96	-0.44	0.88	0.74	0.54	0.82	-0.48	0.96	-0.26	0.65
Short Long Term Debt Total	0.97	0.53	-0.76	0.89	0.64	0.98	0.46	0.92	1.0	0.89	1.0	-0.32	0.96		0.83	-0.19	1.0	-0.45	0.97	0.86	0.48	0.9	-0.34	1.0	-0.19	0.82
Total Current Liabilities	0.76	0.32	-0.52	0.66	0.77	0.78	0.43	0.86	0.8	0.65	0.83	-0.12	0.77	0.83		-0.05	0.83	-0.19	0.76	0.62	0.44	0.92	-0.13	0.79	-0.05	0.59
Property Plant And Equipment Net	-0.15	-0.19	0.08	-0.1	-0.18	-0.14	-0.36	-0.09	-0.2	-0.1	-0.19	0.0	-0.26	-0.19	-0.05		-0.19	0.0	-0.15	-0.1	-0.36	-0.09	-0.05	-0.2	1.0	-0.07
Net Debt	0.97	0.53	-0.76	0.89	0.64	0.98	0.46	0.92	1.0	0.89	1.0	-0.32	0.96	1.0	0.83	-0.19		-0.45	0.97	0.86	0.47	0.9	-0.34	1.0	-0.19	0.82
Retained Earnings	-0.49	-0.53	0.49	-0.5	-0.11	-0.49	-0.32	-0.32	-0.44	-0.52	-0.45	0.59	-0.44	-0.45	-0.19	0.0	-0.45		-0.49	-0.42	-0.31	-0.16	0.62	-0.47	0.0	-0.51
Non Current Assets Total	1.0	0.45	-0.89	0.97	0.53	1.0	0.4	0.95	0.97	0.97	0.97	-0.27	0.88	0.97	0.76	-0.15	0.97	-0.49		0.91	0.42	0.89	-0.31	0.98	-0.15	0.93
Non Currrent Assets Other	0.92	0.31	-0.89	0.93	0.25	0.91	0.2	0.84	0.87	0.92	0.85	-0.16	0.74	0.86	0.62	-0.1	0.86	-0.42	0.91		0.22	0.78	-0.22	0.86	-0.1	0.9
Cash And Short Term Investments	0.42	0.58	-0.21	0.33	0.45	0.44	1.0	0.41	0.48	0.33	0.49	-0.46	0.54	0.48	0.44	-0.36	0.47	-0.31	0.42	0.22		0.44	-0.43	0.48	-0.36	0.32
Net Receivables	0.89	0.35	-0.71	0.83	0.66	0.91	0.43	0.96	0.9	0.82	0.91	-0.16	0.82	0.9	0.92	-0.09	0.9	-0.16	0.89	0.78	0.44		-0.19	0.89	-0.09	0.77
Common Stock Total Equity	-0.31	-0.82	0.12	-0.26	-0.17	-0.34	-0.45	-0.17	-0.36	-0.27	-0.36	0.99	-0.48	-0.34	-0.13	-0.05	-0.34	0.62	-0.31	-0.22	-0.43	-0.19		-0.36	-0.05	-0.21
Non Current Liabilities Total	0.97	0.55	-0.77	0.9	0.62	0.98	0.46	0.9	1.0	0.9	1.0	-0.34	0.96	1.0	0.79	-0.2	1.0	-0.47	0.98	0.86	0.48	0.89	-0.36		-0.2	0.83
Property Plant And Equipment Gross	-0.15	-0.19	0.08	-0.1	-0.18	-0.14	-0.36	-0.09	-0.2	-0.1	-0.19	0.0	-0.26	-0.19	-0.05	1.0	-0.19	0.0	-0.15	-0.1	-0.36	-0.09	-0.05	-0.2		-0.07
Total Current Assets	0.93	0.23	-0.99	0.99	0.3	0.92	0.3	0.9	0.81	0.99	0.82	-0.13	0.65	0.82	0.59	-0.07	0.82	-0.51	0.93	0.9	0.32	0.77	-0.21	0.83	-0.07

Click cells to compare fundamentals

Extra Space Account Relationship Matchups

Extra Space balance sheet Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	8.5B	9.4B	10.5B	12.2B	27.5B	28.8B
Other Current Liab	45.3M	47.1M	63.6M	67.4M	(689.8M)	(655.3M)
Other Liab	96.5M	272.8M	291.5M	144.0M	165.6M	173.9M
Accounts Payable	111.4M	130.0M	142.3M	171.7M	334.5M	351.2M
Cash	65.7M	109.1M	71.1M	92.9M	99.1M	65.3M
Other Assets	159.2M	9.3B	9.7B	11.0B	24.6B	25.8B
Long Term Debt	4.9B	4.8B	5.4B	7.3B	10.3B	10.9B
Total Liab	5.6B	6.5B	6.7B	8.1B	12.0B	12.6B
Common Stock	1.3M	1.3M	1.3M	1.3M	2.1M	2.6M
Net Debt	5.3B	5.9B	6.1B	7.5B	11.3B	11.9B
Retained Earnings	(301.0M)	(354.9M)	(128.2M)	(135.9M)	(379.0M)	(360.1M)
Total Current Assets	70.7M	128.0M	76.2M	92.9M	929.7M	976.2M
Short Term Debt	158M	949M	535M	945M	689.8M	464.8M
Other Current Assets	(70.7M)	(128.0M)	(495.4M)	55.2M	(838.5M)	(796.6M)
Intangible Assets	134.9M	137.1M	147.0M	21.6M	147.6M	91.0M
Net Tangible Assets	2.5B	2.5B	3.1B	3.1B	3.5B	2.3B
Long Term Debt Total	4.9B	4.8B	6.0B	7.5B	8.6B	9.0B
Capital Surpluse	2.9B	3.0B	3.3B	3.3B	3.8B	2.6B

Pair Trading with Extra Space

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Extra Space position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Extra Space will appreciate offsetting losses from the drop in the long position's value.

The ability to find closely correlated positions to Extra Space could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Extra Space when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Extra Space - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Extra Space Storage to buy it.

The correlation of Extra Space is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Extra Space moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Extra Space Storage moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Extra Space can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

When determining whether Extra Space Storage is a strong investment it is important to analyze Extra Space's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Extra Space's future performance. For an informed investment choice regarding Extra Stock, refer to the following important reports:

How To Invest In Extra

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Is Extra Stock a good investment?

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What is Extra Space's Net Worth?

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Check out Extra Space Valuation and Extra Space Correlation analysis.

You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.

Complementary Tools for Extra Stock analysis

When running Extra Space's price analysis, check to measure Extra Space's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Extra Space is operating at the current time. Most of Extra Space's value examination focuses on studying past and present price action to predict the probability of Extra Space's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Extra Space's price. Additionally, you may evaluate how the addition of Extra Space to your portfolios can decrease your overall portfolio volatility.

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Is Extra Space's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Extra Space. If investors know Extra will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Extra Space listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.

Quarterly Earnings Growth

(0.35)

Dividend Share

6.48

Earnings Share

4.74

Revenue Per Share

15.454

Quarterly Revenue Growth

0.572

The market value of Extra Space Storage is measured differently than its book value, which is the value of Extra that is recorded on the company's balance sheet. Investors also form their own opinion of Extra Space's value that differs from its market value or its book value, called intrinsic value, which is Extra Space's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Extra Space's market value can be influenced by many factors that don't directly affect Extra Space's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.

Please note, there is a significant difference between Extra Space's value and its price as these two are different measures arrived at by different means. Investors typically determine if Extra Space is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Extra Space's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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Extra Balance Sheet Analysis

Extra Space balance sheet Correlations

Extra Space Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Extra Space balance sheet Accounts

Pair Trading with Extra Space

Complementary Tools for Extra Stock analysis

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Accounts Payable	+ 1.0	Total Assets
Non Current Assets Total	+ 1.0	Total Assets
Other Stockholder Equity	+ 1.0	Total Stockholder Equity
Non Current Assets Total	+ 1.0	Accounts Payable
Cash And Short Term Investments	+ 1.0	Cash
Total Liab	+ 1.0	Long Term Debt

Total Current Assets	- 0.99	Other Current Liab
Other Stockholder Equity	- 0.97	Other Current Liab
Total Stockholder Equity	- 0.97	Other Current Liab
Non Currrent Assets Other	- 0.89	Other Current Liab
Non Current Assets Total	- 0.89	Other Current Liab
Other Current Liab	- 0.89	Total Assets