National Storage Affiliates Trust
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $752.9M | $770.3M | $858.1M | $801.6M | $585.7M |
| Cost of revenue | $217.5M | $211.9M | $229.0M | $211.0M | $155.3M |
| Interest expense | $162.4M | $154.3M | $166.1M | $110.6M | $72.1M |
| Pretax income | $119.4M | $187.0M | $238.6M | $188.5M | $148.6M |
| Income tax expense | $3.1M | $3.8M | $1.6M | $4.7M | $1.7M |
| Net income | $73.8M | $111.5M | $156.7M | $103.7M | $105.3M |
| Balance Sheet | |||||
| Cash and equivalents | $23.3M | $50.4M | $65.0M | $35.3M | $25.0M |
| Total assets | $5.1B | $5.4B | $5.9B | $6.1B | $5.6B |
| Total liabilities | $3.5B | $3.6B | $3.8B | $3.7B | $3.1B |
| Total debt | $3.4B | $3.4B | $3.7B | $3.6B | $2.9B |
| Stockholders' equity | $946.0M | $1.1B | $1.4B | $1.6B | $1.8B |
| Cash Flow Statement | |||||
| Cash from operations | $338.5M | $363.1M | $441.6M | $443.8M | $331.3M |
| Depreciation and amortization | $189.3M | $189.9M | $222.0M | $233.2M | $158.3M |
| Stock-based compensation | $12.2M | $8.3M | $6.7M | $6.3M | $5.5M |
| Capital expenditure | $561,000 | $1.9M | $1.3M | $928,000 | $426,000 |
| Free cash flow | $337.9M | $361.1M | $440.3M | $442.9M | $330.9M |
| Dividends paid | $174.9M | $171.8M | $190.9M | $195.7M | $131.7M |
| Share repurchases | $0 | $275.2M | $310.2M | $90.1M | $0 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 77.2M · Free float 75.9%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.