NSA
National Storage Affiliates Trust
NYSE: NSA · REAL ESTATE · REIT - INDUSTRIAL
$41.47
-1.03% today
Updated 2026-04-29
Market cap
$6.10B
P/E ratio
60.10
P/S ratio
8.18x
EPS (TTM)
$0.69
Dividend yield
5.44%
52W range
$27 – $44
Volume
1.9M
National Storage Affiliates Trust (NSA) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.28M | $40.16M | $76.97M | $133.92M | $199.05M | $268.13M | $330.90M | $382.93M | $432.22M | $585.67M | $801.57M | $858.06M | $770.34M | $752.93M |
| Revenue growth (YoY) | — | +37.2% | +91.6% | +74.0% | +48.6% | +34.7% | +23.4% | +15.7% | +12.9% | +35.5% | +36.9% | +7.0% | -10.2% | -2.3% |
| Cost of revenue | $11.73M | $18.20M | $27.91M | $45.41M | $64.80M | $84.45M | $103.88M | $106.46M | $123.49M | $155.26M | $211.03M | $228.99M | $211.85M | $406.87M |
| Gross profit | $17.55M | $21.97M | $49.06M | $88.51M | $134.25M | $183.68M | $227.02M | $276.46M | $308.74M | $430.41M | $590.54M | $629.08M | $558.48M | $346.06M |
| Gross margin | 59.9% | 54.7% | 63.7% | 66.1% | 67.4% | 68.5% | 68.6% | 72.2% | 71.4% | 73.5% | 73.7% | 73.3% | 72.5% | 46.0% |
| R&D | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $1.89M | $4.66M | $8.19M | $16.27M | $21.53M | $30.06M | $35.92M | $43.73M | $43.64M | $51.00M | $59.31M | $59.28M | $57.61M | $51.13M |
| Operating income | $11.84M | $7.93M | $17.08M | $31.59M | $57.66M | $78.50M | $101.65M | $227.23M | $146.17M | $218.24M | $289.54M | $336.69M | $297.16M | $278.64M |
| Operating margin | 40.4% | 19.8% | 22.2% | 23.6% | 29.0% | 29.3% | 30.7% | 59.3% | 33.8% | 37.3% | 36.1% | 39.2% | 38.6% | 37.0% |
| EBITDA | $15.66M | $17.31M | $40.87M | $72.24M | $112.72M | $150.68M | $188.72M | $225.68M | $260.92M | $379.00M | $532.21M | $626.72M | $531.15M | $471.14M |
| EBITDA margin | 53.5% | 43.1% | 53.1% | 53.9% | 56.6% | 56.2% | 57.0% | 58.9% | 60.4% | 64.7% | 66.4% | 73.0% | 69.0% | 62.6% |
| EBIT | $11.84M | $7.93M | $17.08M | $31.59M | $-25.99M | $-36.64M | $-42.34M | $120.56M | $143.74M | $220.69M | $299.05M | $404.73M | $341.30M | $281.82M |
| Interest expense | $17.05M | $0.00 | $23.03M | $20.78M | $24.11M | $34.07M | $42.72M | $56.46M | $62.59M | $72.06M | $110.60M | $166.15M | $154.26M | $162.44M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-3.45M | $-1.25M | $-16.36M | $12.44M | $17.96M | $2.96M | $14.11M | $3.98M | $48.61M | $105.25M | $103.74M | $156.67M | $111.52M | $73.78M |
| Net income growth (YoY) | — | +63.7% | -1205.4% | +176.1% | +44.4% | -83.5% | +376.5% | -71.8% | +1120.4% | +116.5% | -1.4% | +51.0% | -28.8% | -33.8% |
| Profit margin | -11.8% | -3.1% | -21.3% | 9.3% | 9.0% | 1.1% | 4.3% | 1.0% | 11.2% | 18.0% | 12.9% | 18.3% | 14.5% | 9.8% |