National Storage Affiliates Trust (NSA) Financial Statements & Analysis

National Storage Affiliates Trust Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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National Storage Affiliates Trust income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	752.93	770.34	858.06	801.57	585.67	432.22	382.93	330.90	268.13
Cost of Revenue	406.87	211.85	228.99	211.03	155.27	123.49	106.46	103.88	84.46
Gross Profit	535.38	558.48	629.08	590.54	430.41	308.74	276.46	227.02	183.68
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-
Selling, General & Administrative	51.13	57.61	59.28	59.31	51.00	43.64	48.93	35.92	30.06
Operating Expenses	67.42	261.33	292.38	301.01	212.17	308.74	49.23	125.37	105.18
Operating Income	278.64	297.16	336.70	289.54	218.24	0.00	227.23	101.65	78.50
Other Income/Expense
Interest Income	-7.33	-16.08	7.55	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	162.45	154.26	166.15	110.60	72.06	62.60	56.46	42.72	34.07
Other Income/Expense	-159.27	-110.12	-98.12	-101.08	-69.62	81.15	-159.87	-44.51	-31.34
Income
Income Before Tax	119.38	187.04	238.58	188.45	148.63	81.15	67.36	57.14	47.16
Income Tax Expense	3.10	3.77	1.59	4.69	1.69	1.67	1.35	0.82	1.16
Net Income	53.32	91.07	137.65	103.74	105.25	48.61	3.98	14.11	2.96
Net Income - Continuous Operations	73.78	183.27	236.99	103.74	105.25	48.61	3.98	14.11	2.96
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	453.91	467.32	564.06	532.21	379.00	262.13	225.68	188.72	150.68
EBIT	264.59	277.47	342.07	300.93	221.59	144.96	-	-	-
Depreciation & Amortization	189.32	189.86	221.99	233.16	158.31	117.17	105.12	231.06	187.32
Earnings Per Share
Basic EPS	1.00	1.00	2.00	1.00	1.00	1.00	1.00	-	-
Diluted EPS	1.00	1.00	1.00	1.00	1.00	1.00	1.00	-	-
Basic Shares Outstanding	76.64	76.84	86.85	91.24	81.20	66.55	58.21	53.29	44.42
Diluted Shares Outstanding	76.64	76.84	146.02	91.24	134.54	66.61	58.21	53.29	44.42

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About National Storage Affiliates Trust Financial Statements

What was National Storage Affiliates Trust's revenue in fiscal 2025?

National Storage Affiliates Trust reported revenue of $752.93M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 2.3% from $770.34M a year earlier.

Is National Storage Affiliates Trust profitable?

Yes. National Storage Affiliates Trust earned net income of $53.32M in fiscal 2025, a net margin of 7.1%. In fiscal 2024 it earned $91.07M.

What is National Storage Affiliates Trust's operating margin?

National Storage Affiliates Trust's operating income was $278.64M on revenue of $752.93M in fiscal 2025, an operating margin of 37.0%, compared with 38.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition