National Storage Affiliates Trust

EDGAR

Annual consolidated revenue for 2025: about USD 752.9M, using the latest reported figures. The previous period, 2024, was about USD 770.3M.

Watchlist

Latest quarter

Revenue

185 million USD

2026 Q1 · USD

Exact inputs and evidence

Operating cash flow

87.4 million USD

2026 Q1 · USD

Exact inputs and evidence
  • Operating Cash Flow: 87440000 USD Source
Cash and cash equivalents
27.6 million USD Source
Exact value

27648000 USD

Long-term debt including current maturities
Not available
Shares outstanding
77.1 million shares Source
Exact value

77137402 shares

Reported share-count change

0.90% · 687 thousand shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 76450466 shares · 2025-03-31· Source
  • 77137402 shares · 2026-03-31· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

750 million USD

2025-04-01 – 2026-03-31

Exact inputs and evidence
  • Revenue: 188842000 USD · 2025-04-01 – 2025-06-30 Source
  • Revenue: 188702000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 752929000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 565898000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 185401000 USD · 2026-01-01 – 2026-03-31 Source

Net income

78.6 million USD

2025-04-01 – 2026-03-31

Exact inputs and evidence
  • Net income: 19471000 USD · 2025-04-01 – 2025-06-30 Source
  • Net income: 18427000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 73784000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 50892000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 17780000 USD · 2026-01-01 – 2026-03-31 Source

Operating cash flow

340 million USD

2025-04-01 – 2026-03-31

Exact inputs and evidence
  • Operating cash flow: 165502000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 85626000 USD · 2025-01-01 – 2025-03-31 Source
  • Operating cash flow: 265690000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 165502000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 338501000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 265690000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 87440000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-05-05.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 10 of 11 periods available· newest 2025-12-31
  • Operating income: 4 of 11 periods available· newest 2018-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • capital expenditure: No compatible figures in this window
  • Total assets: 10 of 11 periods available· newest 2025-12-31
  • Total liabilities: 10 of 11 periods available· newest 2025-12-31
  • current assets: No compatible figures in this window
  • current liabilities: No compatible figures in this window
  • Cash and cash equivalents: 10 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • Shares outstanding: 10 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    -2.3%

    Prior period

    USD 770.34 million

    –

    Current period

    USD 752.93 million

    –

    Exact inputs and evidence

    752929000 − 770335000 = -17406000 USD

    770335000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    752929000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    -33.8%

    Prior period

    USD 111.52 million

    –

    Current period

    USD 73.78 million

    –

    Exact inputs and evidence

    73784000 − 111518000 = -37734000 USD

    111518000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    73784000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    -6.8%

    Prior period

    USD 363.07 million

    –

    Current period

    USD 338.5 million

    –

    Exact inputs and evidence

    338501000 − 363065000 = -24564000 USD

    363065000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    338501000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 752.93 million 100% of revenue
  • Operating costs Derived Unavailable An input is unavailable.
  • Operating income Unavailable An input is unavailable.
  • Tax, interest and other Derived Unavailable An input is unavailable.
  • Net income USD 73.78 million 9.8% of revenue

Cash

  • Operating cash flow USD 338.5 million 45% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 9%20%71%
  • 2017 28%71%
  • 2018 26%69%
  • 2019 Not shown: operating income or net income is not reported.
  • 2020 Not shown: operating income or net income is not reported.
  • 2021 Not shown: operating income or net income is not reported.
  • 2022 Not shown: operating income or net income is not reported.
  • 2023 Not shown: operating income or net income is not reported.
  • 2024 Not shown: operating income or net income is not reported.
  • 2025 Not shown: operating income or net income is not reported.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-31199046000 141390000 Derived 57656000 39691000 Derived 17965000 Unavailable
Source
2017 2017-01-01 – 2017-12-31268130000 189630000 Derived 78500000 75539000 Derived 2961000 Unavailable
Source
2018 2018-01-01 – 2018-12-31330896000 229242000 Derived 101654000 87545000 Derived 14109000 Unavailable
Source
2019 2019-01-01 – 2019-12-31387896000 UnavailableUnavailableUnavailable3983000 Unavailable
Source
2020 2020-01-01 – 2020-12-31432222000 UnavailableUnavailableUnavailable48609000 Unavailable
Source
2021 2021-01-01 – 2021-12-31585671000 UnavailableUnavailableUnavailable105253000 Unavailable
Source
2022 2022-01-01 – 2022-12-31801569000 UnavailableUnavailableUnavailable103737000 Unavailable
Source
2023 2023-01-01 – 2023-12-31858063000 UnavailableUnavailableUnavailable156669000 Unavailable
Source
2024 2024-01-01 – 2024-12-31770335000 UnavailableUnavailableUnavailable111518000 Unavailable
Source
2025 2025-01-01 – 2025-12-31752929000 UnavailableUnavailableUnavailable73784000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 752.9M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.926.7M695.0M463.4M231.7M0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue199046000
2017Revenue268130000
2018Revenue330896000
2019Revenue387896000
2020Revenue432222000
2021Revenue585671000
2022Revenue801569000
2023Revenue858063000
2024Revenue770335000
2025Revenue752929000

Revenue growth

Change in revenue from the same financial period one year earlier.

-2.3% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.41%27%13%-0%-14%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over yearNo prior comparable period
2017Year over year34.7%
2018Year over year23.4%
2019Year over year17.2%
2020Year over year11.4%
2021Year over year35.5%
2022Year over year36.9%
2023Year over year7%
2024Year over year-10.2%
2025Year over year-2.3%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 30.7% 2018
Net margin 9.8% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.33.2%24.9%16.6%8.3%0.0%20162021-12-312025-12-31
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin29%
2017Operating margin29.3%
2018Operating margin30.7%
2019-12-31Operating marginNot reported
2020-12-31Operating marginNot reported
2021-12-31Operating marginNot reported
2022-12-31Operating marginNot reported
2023-12-31Operating marginNot reported
2024-12-31Operating marginNot reported
2025-12-31Operating marginNot reported
2016Net margin9%
2017Net margin1.1%
2018Net margin4.3%
2019Net margin1%
2020Net margin11.2%
2021Net margin18%
2022Net margin12.9%
2023Net margin18.3%
2024Net margin14.5%
2025Net margin9.8%
2016Free cash flow marginNot reported
2017Free cash flow marginNot reported
2018Free cash flow marginNot reported
2019Free cash flow marginNot reported
2020Free cash flow marginNot reported
2021Free cash flow marginNot reported
2022Free cash flow marginNot reported
2023Free cash flow marginNot reported
2024Free cash flow marginNot reported
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD 338.5M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.479.4M359.5M239.7M119.8M0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow94646000
2017Operating cash flow124288000
2018Operating cash flow161796000
2019Operating cash flow196651000
2020Operating cash flow220654000
2021Operating cash flow331349000
2022Operating cash flow443847000
2023Operating cash flow441576000
2024Operating cash flow363065000
2025Operating cash flow338501000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Not enough comparable data to show this history.
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flowUnavailable
2017Free cash flowUnavailable
2018Free cash flowUnavailable
2019Free cash flowUnavailable
2020Free cash flowUnavailable
2021Free cash flowUnavailable
2022Free cash flowUnavailable
2023Free cash flowUnavailable
2024Free cash flowUnavailable
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

69.8% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.75%57%38%19%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets48.3%
2017Liabilities / assets43.9%
2018Liabilities / assets48.6%
2019Liabilities / assets52.9%
2020Liabilities / assets59.3%
2021Liabilities / assets55.4%
2022Liabilities / assets60.6%
2023Liabilities / assets64.2%
2024Liabilities / assets67.1%
2025Liabilities / assets69.8%

Current assets to current liabilities

Current assets divided by current liabilities.

Not enough comparable data to show this history.
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Current assets / current liabilitiesNot reportedNo source recorded
2017-12-31Current assets / current liabilitiesNot reportedNo source recorded
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019-12-31Current assets / current liabilitiesNot reportedNo source recorded
2020-12-31Current assets / current liabilitiesNot reportedNo source recorded
2021-12-31Current assets / current liabilitiesNot reportedNo source recorded
2022-12-31Current assets / current liabilitiesNot reportedNo source recorded
2023-12-31Current assets / current liabilitiesNot reportedNo source recorded
2024-12-31Current assets / current liabilitiesNot reportedNo source recorded
2025-12-31Current assets / current liabilitiesNot reportedNo source recorded

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 17.97 million
Exact value

Exact value: 17965000 USD

2016-01-01 – 2016-12-31: 17965000 USD Inspect Net Income Open source
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USD 94.65 million
Exact value

Exact value: 94646000 USD

2016-01-01 – 2016-12-31: 94646000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2017 2017-01-01 – 2017-12-31
USD 2.96 million
Exact value

Exact value: 2961000 USD

2017-01-01 – 2017-12-31: 2961000 USD Inspect Net Income Open source
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USD 124.29 million
Exact value

Exact value: 124288000 USD

2017-01-01 – 2017-12-31: 124288000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2018 2018-01-01 – 2018-12-31
USD 14.11 million
Exact value

Exact value: 14109000 USD

2018-01-01 – 2018-12-31: 14109000 USD Inspect Net Income Open source
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USD 161.8 million
Exact value

Exact value: 161796000 USD

2018-01-01 – 2018-12-31: 161796000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2019 2019-01-01 – 2019-12-31
USD 3.98 million
Exact value

Exact value: 3983000 USD

2019-01-01 – 2019-12-31: 3983000 USD Inspect Net Income Open source
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USD 196.65 million
Exact value

Exact value: 196651000 USD

2019-01-01 – 2019-12-31: 196651000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2020 2020-01-01 – 2020-12-31
USD 48.61 million
Exact value

Exact value: 48609000 USD

2020-01-01 – 2020-12-31: 48609000 USD Inspect Net Income Open source
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USD 220.65 million
Exact value

Exact value: 220654000 USD

2020-01-01 – 2020-12-31: 220654000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2021 2021-01-01 – 2021-12-31
USD 105.25 million
Exact value

Exact value: 105253000 USD

2021-01-01 – 2021-12-31: 105253000 USD Inspect Net Income Open source
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USD 331.35 million
Exact value

Exact value: 331349000 USD

2021-01-01 – 2021-12-31: 331349000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2022 2022-01-01 – 2022-12-31
USD 103.74 million
Exact value

Exact value: 103737000 USD

2022-01-01 – 2022-12-31: 103737000 USD Inspect Net Income Open source
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USD 443.85 million
Exact value

Exact value: 443847000 USD

2022-01-01 – 2022-12-31: 443847000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2023 2023-01-01 – 2023-12-31
USD 156.67 million
Exact value

Exact value: 156669000 USD

2023-01-01 – 2023-12-31: 156669000 USD Inspect Net Income Open source
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USD 441.58 million
Exact value

Exact value: 441576000 USD

2023-01-01 – 2023-12-31: 441576000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2024 2024-01-01 – 2024-12-31
USD 111.52 million
Exact value

Exact value: 111518000 USD

2024-01-01 – 2024-12-31: 111518000 USD Inspect Net Income Open source
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USD 363.07 million
Exact value

Exact value: 363065000 USD

2024-01-01 – 2024-12-31: 363065000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2025 2025-01-01 – 2025-12-31
USD 73.78 million
Exact value

Exact value: 73784000 USD

2025-01-01 – 2025-12-31: 73784000 USD Inspect Net Income Open source
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USD 338.5 million
Exact value

Exact value: 338501000 USD

2025-01-01 – 2025-12-31: 338501000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

62 filings · 3,358 latest values · 3,358 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001618563, 1618563, edgar:1618563

Also known as NATIONAL STORAGE AFFILIATES TRUST, National Storage Affiliates Trust