National Storage Affiliates Trust Financial Ratios — NSA

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	10.51	4.42	0.11	0.53	-1.16	4.89	7.99	6.06	10.99	10.03	7.96
Return on Assets (%)	- -	- -	- -	1.29	1.2	0.14	0.56	0.14	1.47	2.32	1.78	2.61	1.98	1.41
Return on Capital (%)	- -	- -	- -	4.23	2.37	-0.33	0.57	-0.1	2.48	3.06	2.31	4.1	3.46	3.72
Return on Invested Capital (%)	- -	- -	- -	3.21	3.86	3.75	4.08	4.32	4.44	4.85	4.9	5.64	5.2	5.19
Gross Margin (%)	59.94	- -	63.74	66.09	67.45	68.5	68.61	71.55	71.43	73.49	73.67	73.31	72.5	71.11
EBITDA Margin (%)	53.49	- -	53.1	53.94	56.63	57.29	57.66	59.46	60.59	63.96	64.87	64.83	62.71	61.26
Operating Margin (%)	40.42	- -	22.19	23.59	28.97	29.28	30.72	32.7	34.04	37.26	36.12	39.24	38.57	37.01
Incremental Operating Margin (%)	- -	- -	- -	25.48	40.02	30.17	36.89	44.2	45.72	46.35	33.02	83.47	45.07	106.37
Pretax Margin (%)	-11.79	- -	-21.25	3.72	12.68	17.59	17.27	17.37	18.77	25.38	23.51	27.8	24.28	15.85
Profit Margin (%)	-11.79	- -	- -	9.29	9.03	1.1	4.26	1.03	11.25	17.97	12.94	18.26	14.48	9.8
Net Income to Common Margin (%)	-11.79	- -	- -	9.29	9.03	0.25	1.14	-2.17	8.22	15.73	11.27	16.04	11.82	7.08
Effective Tax Rate (%)	- -	- -	- -	3.75	1.46	2.46	1.43	2.01	2.06	1.14	2.49	0.67	2.01	2.6
Dvd Payout Ratio (%)	- -	- -	- -	-436.41	84.03	54.96	70.47	64.46	92.69	75.04	78.16	64	73.25	126.47
Sustainable Growth Rate (%)	- -	- -	- -	56.4	0.7	0.05	0.16	-0.41	0.36	1.99	1.32	3.96	2.68	-2.11

Credit (USD)

Credit Ratios API ChatGPT

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	165	299	598	568	879	958	1,278	1,559	1,942	2,965	3,577	3,682	3,472	3,428
ST Debt	- -	- -	166	188	247	89	140	- -	174	490	496	381	443	401
LT Debt	165	299	431	380	632	870	1,139	1,559	1,768	2,475	3,081	3,301	3,029	3,027
Total Debt/EBITDA	10.53	- -	14.62	7.86	7.8	6.24	6.7	6.76	7.42	7.91	6.88	6.62	7.19	7.43
Net Debt/EBITDA	10.35	- -	14.4	7.77	7.69	6.15	6.63	6.56	7.25	7.78	6.76	6.46	7.04	7.33
Total Debt/EBIT	13.93	- -	34.99	17.97	15.24	12.21	12.57	12.42	13.42	13.71	12.47	11.02	11.84	12.61
Net Debt/EBIT	13.7	- -	34.46	17.76	15.03	12.03	12.44	12.06	13.12	13.48	12.26	10.75	11.59	12.44
EBITDA to Interest Expense	0.92	- -	1.77	3.48	4.68	4.51	4.47	4.08	4.18	5.2	4.7	3.35	3.13	2.84
EBITDA-CapEx/Interest Expense	0.87	- -	1.61	3.46	4.65	4.49	4.46	4.07	4.18	5.2	4.7	3.25	2.92	2.84
EBIT to Interest Expense	0.69	- -	0.74	1.52	2.39	2.3	2.38	2.25	2.35	3.03	2.62	2.03	1.93	1.72
Interest Expense	17	- -	23	21	24	34	43	56	63	72	111	166	154	162
Common Equity/Total Assets	-6.77	- -	- -	21.53	30.5	29.49	27.27	22.74	21.36	27.99	23.44	18.23	13.73	11.91
Long-Term Debt/Equity (%)	- -	541.24	201.53	73.6	64.6	68.39	81.2	107.34	123.58	99.7	128.96	155.3	171.76	197.34
Long-Term Debt/Capital (%)	107.95	84.41	53.15	35.04	34.04	39	42.48	51.77	52.42	45.43	51.64	56.84	57.85	61.01
Long-Term Debt/Total Assets (%)	91.9	81.12	51.81	34.56	33.43	38.36	41.72	50.54	50.31	44.49	50.76	55.66	56.56	59.58
Total Debt/Equity (%)	-1,357.18	541.24	279.16	110.03	89.77	75.35	91.14	107.34	135.74	119.43	149.72	173.22	196.9	223.48
Total Debt/Capital (%)	107.95	84.41	73.63	52.39	47.31	42.97	47.68	51.77	57.58	54.43	59.96	63.4	66.32	69.09
Total Debt/Total Assets (%)	91.9	81.12	71.77	51.66	46.45	42.27	46.83	50.54	55.26	53.3	58.93	62.08	64.84	67.47
Net Debt to Equity	-1,334.39	520.96	274.95	108.74	88.49	74.3	90.2	104.23	132.7	117.46	147.17	169.03	192.74	220.49
Net Debt/Capital (%)	108.1	83.9	73.33	52.09	46.95	42.63	47.42	50.61	56.61	53.78	59.28	62.56	65.55	68.48
EBITDA	16	- -	41	72	113	154	191	231	262	375	520	556	483	461
EBITDA-CapEx	15	- -	37	72	112	153	190	230	262	375	520	539	450	461
Operating Income (Loss)	12	- -	17	32	58	79	102	127	147	218	290	337	297	279

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.69	1.32	0.05	0.03	0.04	0.11	0.07	0.38	0.08	0.04	0.06	0.13	0.09	0.05
Current Ratio	1.54	1.77	0.08	0.06	0.12	0.21	0.16	0.74	0.17	0.09	0.15	1.35	0.16	0.13
Quick Ratio	0.79	1.39	0.07	0.04	0.06	0.14	0.12	0.58	0.13	0.07	0.1	0.17	0.14	0.08
CFO/Avg Current Liab	- -	- -	0.17	0.26	0.39	0.61	1.03	1.63	1.52	0.82	0.76	0.8	0.68	0.63
Common Equity/Total Assets	-6.77	- -	- -	21.53	30.5	29.49	27.27	22.74	21.36	27.99	23.44	18.23	13.73	11.91
Long-Term Debt/Equity (%)	- -	541.24	201.53	73.6	64.6	68.39	81.2	107.34	123.58	99.7	128.96	155.3	171.76	197.34
Long-Term Debt/Capital (%)	107.95	84.41	53.15	35.04	34.04	39	42.48	51.77	52.42	45.43	51.64	56.84	57.85	61.01
Long-Term Debt/Total Assets (%)	91.9	81.12	51.81	34.56	33.43	38.36	41.72	50.54	50.31	44.49	50.76	55.66	56.56	59.58
Total Debt/Equity (%)	-1,357.18	541.24	279.16	110.03	89.77	75.35	91.14	107.34	135.74	119.43	149.72	173.22	196.9	223.48
Total Debt/Capital (%)	107.95	84.41	73.63	52.39	47.31	42.97	47.68	51.77	57.58	54.43	59.96	63.4	66.32	69.09
Total Debt/Total Assets (%)	91.9	81.12	71.77	51.66	46.45	42.27	46.83	50.54	55.26	53.3	58.93	62.08	64.84	67.47
CFO/Total Liabilities	2.57	- -	2.65	8.63	10.37	12.49	12.19	12.05	10.59	10.76	12.06	11.6	10.11	9.55
CFO/CapEx	5.6	- -	4.27	120.42	179.59	211.37	401.48	228.13	606.19	- -	- -	26.09	11.09	- -
Altman's Z-Score	- -	- -	- -	0.41	0.67	0.97	0.8	0.91	0.83	1.28	0.63	0.8	0.57	0.41

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	- -	102.49	129.27	133.1	128.54	116.59	124.91	155.95	130.7	82.86	74.74	83.14	100.15
Days Sales Outstanding	- -	- -	3.56	2.82	2.74	2.84	3.13	2.92	2.34	2.79	4.41	4.88	4.39	3.64
Inventory Turnover	- -	- -	- -	- -	9.3	10.9	133.6	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	39.25	33.48	2.73	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	-36.51	-30.64	0.4	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	14	2	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	14	2	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	394	951	1,371	1,499	2,006	2,569	6,311	3,245	3,412	2,894	2,175
- Cash & Cash Equivalents	3	11	9	7	13	13	13	21	19	25	35	65	50	23
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	173	173	218	218	218	225	341	341	341
+ Minority/Non Controlling Interest	- -	55	214	279	402	430	485	532	462	707	741	704	687	588
+ Total Debt	165	299	598	568	879	958	1,278	1,559	1,942	2,965	3,577	3,682	3,472	3,428
Enterprise Value	- -	- -	- -	1,235	2,220	2,918	3,422	4,295	5,172	10,177	7,753	8,074	7,344	6,508
Total Capital	153	354	812	1,084	1,858	2,230	2,680	3,011	3,372	5,447	5,966	5,808	5,235	4,962
Total Debt/Capital (%)	107.95	84.41	73.63	52.39	47.31	42.97	47.68	51.77	57.58	54.43	59.96	63.4	66.32	69.09
Total Debt / EV	- -	- -	- -	0.46	0.4	0.33	0.37	0.36	0.38	0.29	0.46	0.46	0.47	0.53
EV/Sales	- -	- -	- -	9.22	11.15	10.88	10.34	11.07	11.96	17.38	9.67	9.41	9.53	8.64
EV/EBITDA	- -	- -	- -	17.09	19.69	19	17.93	18.62	19.75	27.17	14.91	14.51	15.2	14.11
EV/EBIT	- -	- -	- -	39.09	38.5	37.18	33.66	34.21	35.74	47.05	27.03	24.15	25.05	23.93
EV/Cash Flow to Firm	- -	- -	- -	17.56	18.75	18.53	16.78	17.04	18.34	25.28	14.05	13.31	14.28	13.1
EV/Free Cash Flow to Firm	- -	- -	- -	17.66	18.83	18.6	16.82	17.1	18.37	25.28	14.05	13.69	15.25	13.1
Diluted Market Cap	- -	- -	- -	778	1,738	1,211	1,410	1,957	2,400	9,310	3,296	6,056	2,913	2,162
Diluted Enterprise Value	- -	- -	- -	1,618	3,006	2,759	3,333	4,246	5,003	13,176	7,803	10,717	7,363	6,495
EV per Share	- -	- -	- -	53.65	51.49	58.04	60.4	71.98	72.54	111.59	86.3	98.12	96.2	84.42
TTM Sales	29	- -	77	134	199	268	331	388	432	586	802	858	770	753
TTM EBITDA	16	- -	41	72	113	154	191	231	262	375	520	556	483	461
TTM Operating Income	12	- -	17	32	58	79	102	127	147	218	290	337	297	279
TTM Cash Flow to Firm	- -	- -	- -	70	118	158	204	252	282	403	552	607	514	497
TTM Free Cash Flow to Firm	- -	- -	- -	70	118	157	204	251	282	403	552	590	481	497

Multiples (USD)

Valuation Multiples API ChatGPT

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	15.58	18.47	9.79	8.74	10	10.89	28.1	7.42	14.26	8.82	6.39
EV/EBIT	- -	- -	- -	39.09	38.5	37.18	33.66	34.21	35.74	47.05	27.03	24.15	25.05	23.93
Enterprise Value	- -	- -	- -	1,235	2,220	2,918	3,422	4,295	5,172	10,177	7,753	8,074	7,344	6,508
Low Price	- -	- -	- -	11.5	15.67	21.17	23.1	25.11	19.34	33.79	35.37	27.86	34.5	27.47
EV/Sales	- -	- -	- -	9.22	11.15	10.88	10.34	11.07	11.96	17.38	9.67	9.41	9.53	8.64
EV/EBITDA	- -	- -	- -	17.09	19.69	19	17.93	18.62	19.75	27.17	14.91	14.51	15.2	14.11
Price/Earnings	- -	- -	- -	21.29	36.72	1,832.03	375.14	- -	67.52	60.97	36.49	26.16	31.99	40.55
Price/Earnings Average	- -	- -	- -	17.29	33.28	1,607.04	382.59	- -	60.2	44.34	52.01	22.94	34.37	47.88
Price/Earnings High	- -	- -	- -	21.7	38.03	1,918.72	457.65	- -	71.61	61.71	70.47	28.26	41.72	58.38
Price/Earnings Low	- -	- -	- -	14.29	26.07	1,422.75	327.5	- -	36.24	29.77	35.73	17.58	29.11	39.48
Price/Book Value	- -	- -	- -	1.67	1.65	2.05	2.01	2.86	3.42	4.05	2.28	3.16	3.94	3.6
Price/Book Value Average	- -	- -	- -	1.35	1.49	1.8	2.05	2.6	3.05	2.95	3.25	2.77	4.23	4.25
Price/Book Value High	- -	- -	- -	1.7	1.71	2.15	2.46	3.04	3.63	4.1	4.4	3.41	5.13	5.18
Price/Book Value Low	- -	- -	- -	1.12	1.17	1.59	1.76	2.14	1.84	1.98	2.23	2.12	3.58	3.5
Price/Tangible Book Value	- -	- -	- -	1.7	1.74	2.13	2.08	3.01	3.65	4.27	2.37	3.36	4.98	4.74
Price/Tangible Book Value Average	- -	- -	- -	1.38	1.57	1.87	2.12	2.74	3.25	3.1	3.38	2.94	5.36	5.6
Price/Tangible Book Value High	- -	- -	- -	1.73	1.8	2.23	2.53	3.2	3.87	4.32	4.58	3.62	6.5	6.83
Price/Tangible Book Value Low	- -	- -	- -	1.14	1.23	1.66	1.81	2.25	1.96	2.08	2.32	2.26	4.54	4.62
Price/Sales	- -	- -	- -	1.98	3.31	4.52	4.26	5.05	5.55	9.59	4.11	4.2	3.78	2.87
Price/Sales Average	- -	- -	- -	1.61	3	3.96	4.35	4.59	4.95	6.98	5.86	3.68	4.06	3.39
Price/Sales High	- -	- -	- -	2.02	3.43	4.73	5.2	5.37	5.88	9.71	7.94	4.53	4.93	4.13
Price/Sales Low	- -	- -	- -	1.33	2.35	3.51	3.72	3.77	2.98	4.68	4.03	2.82	3.44	2.8
Price/Cash Flow	- -	- -	- -	5.26	6.97	9.74	8.72	9.95	10.87	16.96	7.42	8.16	8.02	6.39
Price/Cash Flow Average	- -	- -	- -	4.27	6.32	8.55	8.89	9.05	9.69	12.33	10.58	7.15	8.62	7.54
Price/Cash Flow High	- -	- -	- -	5.36	7.22	10.2	10.63	10.58	11.53	17.16	14.34	8.81	10.46	9.2
Price/Cash Flow Low	- -	- -	- -	3.53	4.95	7.57	7.61	7.43	5.83	8.28	7.27	5.48	7.3	6.22
Price/Free Cash Flow Average	- -	- -	- -	12.65	16.73	8.59	8.91	9.09	9.71	20.43	10.58	12.51	9.47	7.54
Price/Free Cash Flow High	- -	- -	- -	15.88	19.13	10.25	10.66	10.63	11.55	28.44	14.34	15.4	11.5	9.2
Price/Free Cash Flow Low	- -	- -	- -	10.46	13.11	7.6	7.63	7.47	5.85	13.72	7.27	9.58	8.03	6.22
EV/Sales Average	- -	- -	- -	8.67	10.7	10.26	10.43	10.6	11.32	14.44	11.39	8.92	9.81	9.17
EV/Sales High	- -	- -	- -	9.28	11.32	11.13	11.34	11.4	12.33	17.51	13.44	9.73	10.68	9.91
EV/Sales Low	- -	- -	- -	8.25	9.77	9.74	9.77	9.76	9.21	11.86	9.59	8.1	9.2	8.57
EV/EBITDA Average	- -	- -	- -	16.07	18.9	17.9	18.09	17.83	18.69	22.57	17.56	13.76	15.65	14.96
EV/EBITDA High	- -	- -	- -	17.2	20	19.42	19.66	19.17	20.34	27.37	20.72	15.01	17.03	16.18
EV/EBITDA Low	- -	- -	- -	15.3	17.25	17.01	16.94	16.42	15.21	18.54	14.78	12.5	14.66	13.99
EV/EBIT Average	- -	- -	- -	36.74	36.95	35.03	33.96	32.77	33.82	39.09	31.84	22.9	25.78	25.38
EV/EBIT High	- -	- -	- -	39.33	39.09	38	36.91	35.23	36.82	47.4	37.57	24.97	28.05	27.45
EV/EBIT Low	- -	- -	- -	34.99	33.72	33.28	31.79	30.17	27.52	32.12	26.8	20.8	24.16	23.72
Last Price	- -	- -	- -	17.13	22.07	27.26	26.46	33.62	36.03	69.2	36.12	41.47	37.91	28.21
High Price	- -	- -	- -	17.46	22.86	28.55	32.28	35.76	38.22	70.04	69.75	44.79	49.44	40.62
Enterprise Value Average	- -	- -	- -	1,161	2,131	2,750	3,452	4,113	4,893	8,455	9,133	7,654	7,559	6,901
Enterprise Value High	- -	- -	- -	1,242	2,254	2,983	3,752	4,422	5,327	10,253	10,774	8,347	8,224	7,465
Enterprise Value Low	- -	- -	- -	1,105	1,944	2,612	3,232	3,787	3,982	6,947	7,686	6,954	7,084	6,451

Shares Outstanding	40	40	40	23	43	50	57	60	71	91	90	82	76	77
Diluted Weighted Avg Shares	20	42	20	45	79	44	53	58	67	135	91	146	77	77
Basic Weighted Avg Shares	20	42	20	15	30	44	53	58	67	81	91	87	77	77
Revenue per Share	1.46	- -	3.85	8.66	6.66	6.04	6.21	6.66	6.49	7.21	8.79	9.88	10.02	9.82
EBITDA per Share	0.78	- -	2.04	4.67	3.77	3.46	3.58	3.96	3.94	4.61	5.7	6.41	6.29	6.02
Operating Income per Share	0.59	- -	0.85	2.04	1.93	1.77	1.91	2.18	2.21	2.69	3.17	3.88	3.87	3.64
Basic EPS, GAAP	-0.17	- -	- -	0.8	0.6	0.01	0.07	-0.14	0.53	1.13	0.99	1.58	1.19	0.7
Basic EPS from Cont Ops	-0.17	- -	-0.82	0.31	0.83	1.04	1.06	1.13	1.19	1.81	2.01	2.73	2.38	1.52
Diluted EPS, GAAP	-0.17	- -	- -	0.27	0.23	0.01	0.07	-0.14	0.53	0.68	0.99	0.94	1.19	0.7
Diluted EPS from Cont Ops	-0.17	- -	-0.82	0.11	0.32	1.04	1.06	1.13	1.19	1.09	2.01	1.62	2.38	1.52
Dividend per Share	- -	- -	- -	0.8	0.89	1.12	1.36	1.49	1.55	1.78	2.29	2.42	2.5	2.55
Cash Flow per Share	0.25	- -	0.82	3.26	3.17	2.8	3.04	3.38	3.32	4.08	4.86	5.08	4.72	4.42
Free Cash Flow per Basic Share	0.2	- -	0.63	3.23	3.15	2.78	3.03	3.36	3.31	4.08	4.86	4.89	4.3	4.42
Cash & Equivalents per Share	0.07	0.28	0.22	0.29	0.29	0.27	0.23	0.34	0.26	0.27	0.39	0.79	0.66	0.3
Book Value per Share	-0.3	- -	- -	10.28	13.39	13.29	13.14	11.76	10.53	17.07	15.84	13.14	9.63	7.85
Tangible Book Value per Share	-0.3	-0.07	-0.19	10.1	12.72	12.79	12.75	11.17	9.87	16.22	15.23	12.35	7.61	5.95

National Storage Affiliates Trust

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)