NSA Q4 2025 Earnings — National Storage Affiliates Trust Revenue & Financial Results | Market Cap Arena

NSANational Storage Affiliates Trust

$3B

Q4 2025 Earnings

Real Estate REIT - Industrial

Income Statement

Revenue

$187M-1.6% YoY

Gross Profit

-$54M-28.7% margin

Operating Income

$72M38.5% margin

Net Income

$23M12.2% margin

EPS (Diluted)

$0.24

QoQ Revenue Growth

-0.9%

Cash Flow

Operating Cash Flow

$73M

Free Cash Flow

$59M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$5.1B

Total Liabilities

$3.5B

Stockholders' Equity

$946M

Cash & Equivalents

$23M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$187M	$190M	-1.6%
Gross Profit	-$54M	$138M	-139.0%
Operating Income	$72M	$74M	-2.5%
Net Income	$23M	$17M	+36.8%

Revenue Segments

Tenant Warranty Protection

$14M39%

Tenant Insurance And Protection Plan Fees And Commissions

$11M31%

Property Management, Call Center, And Platform Fees

$9M27%

Retail Products And Supplies

$700,0002%

Acquisition Fees

$200,0001%