NATIONAL STORAGE AFFILIATES (NSA) Stock Fundamental Analysis
NYSE:NSA - New York Stock Exchange, Inc. - US6378701063 - REIT - Currency: USD
Taking everything into account, NSA scores 3 out of 10 in our fundamental rating. NSA was compared to 30 industry peers in the Specialized REITs industry. NSA has a medium profitability rating, but doesn't score so well on its financial health evaluation. NSA does not seem to be growing, but still is valued expensively. Finally NSA also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year NSA was profitable.
NSA had a positive operating cash flow in the past year.
NSA had positive earnings in each of the past 5 years.
Each year in the past 5 years NSA had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 0.86%, NSA is doing worse than 66.67% of the companies in the same industry.
NSA's Return On Equity of 4.35% is in line compared to the rest of the industry. NSA outperforms 50.00% of its industry peers.
The Return On Invested Capital of NSA (4.45%) is comparable to the rest of the industry.
NSA had an Average Return On Invested Capital over the past 3 years of 4.30%. This is in line with the industry average of 5.25%.
The last Return On Invested Capital (4.45%) for NSA is above the 3 year average (4.30%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.86% | ||
| ROE | 4.35% | ||
| ROIC | 4.45% |
ROA(3y)1.84%
ROA(5y)1.63%
ROE(3y)7.87%
ROE(5y)6.49%
ROIC(3y)4.3%
ROIC(5y)3.88%
1.3 Margins
NSA has a Profit Margin (5.90%) which is comparable to the rest of the industry.
In the last couple of years the Profit Margin of NSA has declined.
With a Operating Margin value of 37.99%, NSA perfoms like the industry average, outperforming 56.67% of the companies in the same industry.
In the last couple of years the Operating Margin of NSA has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.99% | ||
| PM (TTM) | 5.9% | ||
| GM | N/A |
OM growth 3Y1.16%
OM growth 5Y3.36%
PM growth 3Y-9.08%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NSA is destroying value.
The number of shares outstanding for NSA has been reduced compared to 1 year ago.
NSA has more shares outstanding than it did 5 years ago.
The debt/assets ratio for NSA is higher compared to a year ago.
2.2 Solvency
NSA has an Altman-Z score of 0.50. This is a bad value and indicates that NSA is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.50, NSA is doing worse than 73.33% of the companies in the same industry.
NSA has a debt to FCF ratio of 15.29. This is a negative value and a sign of low solvency as NSA would need 15.29 years to pay back of all of its debts.
NSA's Debt to FCF ratio of 15.29 is in line compared to the rest of the industry. NSA outperforms 53.33% of its industry peers.
A Debt/Equity ratio of 3.31 is on the high side and indicates that NSA has dependencies on debt financing.
NSA's Debt to Equity ratio of 3.31 is on the low side compared to the rest of the industry. NSA is outperformed by 70.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.31 | ||
| Debt/FCF | 15.29 | ||
| Altman-Z | 0.5 |
ROIC/WACC0.64
WACC7.01%
2.3 Liquidity
NSA has a Current Ratio of 0.37. This is a bad value and indicates that NSA is not financially healthy enough and could expect problems in meeting its short term obligations.
NSA has a Current ratio of 0.37. This is in the lower half of the industry: NSA underperforms 73.33% of its industry peers.
NSA has a Quick Ratio of 0.37. This is a bad value and indicates that NSA is not financially healthy enough and could expect problems in meeting its short term obligations.
NSA's Quick ratio of 0.37 is on the low side compared to the rest of the industry. NSA is outperformed by 73.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.37 | ||
| Quick Ratio | 0.37 |
3. Growth
3.1 Past
NSA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -69.11%.
Measured over the past 5 years, NSA shows a small growth in Earnings Per Share. The EPS has been growing by 6.27% on average per year.
Looking at the last year, NSA shows a decrease in Revenue. The Revenue has decreased by -9.89% in the last year.
NSA shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.71% yearly.
EPS 1Y (TTM)-69.11%
EPS 3Y6.27%
EPS 5YN/A
EPS Q2Q%-84.62%
Revenue 1Y (TTM)-9.89%
Revenue growth 3Y9.57%
Revenue growth 5Y14.71%
Sales Q2Q%-13.6%
3.2 Future
The Earnings Per Share is expected to decrease by -5.85% on average over the next years.
NSA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.55% yearly.
EPS Next Y-30.3%
EPS Next 2Y-13.82%
EPS Next 3Y-5.85%
EPS Next 5YN/A
Revenue Next Year-2.49%
Revenue Next 2Y0.5%
Revenue Next 3Y2.35%
Revenue Next 5Y4.55%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
NSA is valuated quite expensively with a Price/Earnings ratio of 52.94.
Compared to the rest of the industry, the Price/Earnings ratio of NSA is on the same level as its industry peers.
NSA is valuated expensively when we compare the Price/Earnings ratio to 28.05, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 36.89, the valuation of NSA can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NSA is on the same level as its industry peers.
NSA's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 37.67.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 52.94 | ||
| Fwd PE | 36.89 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, NSA is valued cheaply inside the industry as 93.33% of the companies are valued more expensively.
100.00% of the companies in the same industry are more expensive than NSA, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.66 | ||
| EV/EBITDA | 12.09 |
4.3 Compensation for Growth
NSA's earnings are expected to decrease with -5.85% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-13.82%
EPS Next 3Y-5.85%
5. Dividend
5.1 Amount
NSA has a Yearly Dividend Yield of 7.25%, which is a nice return.
NSA's Dividend Yield is rather good when compared to the industry average which is at 5.63. NSA pays more dividend than 96.67% of the companies in the same industry.
NSA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.25% |
5.2 History
The dividend of NSA is nicely growing with an annual growth rate of 10.15%!
NSA has paid a dividend for at least 10 years, which is a reliable track record.
NSA has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)10.15%
Div Incr Years9
Div Non Decr Years9
5.3 Sustainability
NSA pays out 426.96% of its income as dividend. This is not a sustainable payout ratio.
NSA's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP426.96%
EPS Next 2Y-13.82%
EPS Next 3Y-5.85%
NYSE:NSA (7/28/2025, 10:35:05 AM)
31.235
-0.16 (-0.53%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners96.52%
Inst Owner Change-0.07%
Ins Owners8.05%
Ins Owner Change-1.69%
Market Cap2.39B
Analysts51.82
Price Target38.49 (23.23%)
Short Float %6.14%
Short Ratio3.76
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.25% |
Yearly Dividend2.42
Dividend Growth(5Y)10.15%
DP426.96%
Div Incr Years9
Div Non Decr Years9
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-29.11%
Min EPS beat(2)-43.42%
Max EPS beat(2)-14.79%
EPS beat(4)1
Avg EPS beat(4)-23.05%
Min EPS beat(4)-45.37%
Max EPS beat(4)11.39%
EPS beat(8)4
Avg EPS beat(8)26.58%
EPS beat(12)4
Avg EPS beat(12)10.44%
EPS beat(16)4
Avg EPS beat(16)0.8%
Revenue beat(2)1
Avg Revenue beat(2)-3.47%
Min Revenue beat(2)-8.32%
Max Revenue beat(2)1.39%
Revenue beat(4)3
Avg Revenue beat(4)-0.92%
Min Revenue beat(4)-8.32%
Max Revenue beat(4)2.49%
Revenue beat(8)7
Avg Revenue beat(8)0.53%
Revenue beat(12)11
Avg Revenue beat(12)1.87%
Revenue beat(16)15
Avg Revenue beat(16)2.58%
PT rev (1m)-0.7%
PT rev (3m)-3.34%
EPS NQ rev (1m)1.62%
EPS NQ rev (3m)11.6%
EPS NY rev (1m)0.21%
EPS NY rev (3m)11.58%
Revenue NQ rev (1m)-1.18%
Revenue NQ rev (3m)-2.56%
Revenue NY rev (1m)-1.16%
Revenue NY rev (3m)-2.06%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 52.94 | ||
| Fwd PE | 36.89 | ||
| P/S | 3.13 | ||
| P/FCF | 10.66 | ||
| P/OCF | 6.74 | ||
| P/B | 2.31 | ||
| P/tB | 2.71 | ||
| EV/EBITDA | 12.09 |
EPS(TTM)0.59
EY1.89%
EPS(NY)0.85
Fwd EY2.71%
FCF(TTM)2.93
FCFY9.38%
OCF(TTM)4.64
OCFY14.85%
SpS9.97
BVpS13.52
TBVpS11.52
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.86% | ||
| ROE | 4.35% | ||
| ROCE | 5.64% | ||
| ROIC | 4.45% | ||
| ROICexc | 4.47% | ||
| ROICexgc | 4.62% | ||
| OM | 37.99% | ||
| PM (TTM) | 5.9% | ||
| GM | N/A | ||
| FCFM | 29.39% |
ROA(3y)1.84%
ROA(5y)1.63%
ROE(3y)7.87%
ROE(5y)6.49%
ROIC(3y)4.3%
ROIC(5y)3.88%
ROICexc(3y)4.34%
ROICexc(5y)3.91%
ROICexgc(3y)4.44%
ROICexgc(5y)3.99%
ROCE(3y)5.44%
ROCE(5y)4.91%
ROICexcg growth 3Y13.51%
ROICexcg growth 5Y6.59%
ROICexc growth 3Y12.74%
ROICexc growth 5Y6.15%
OM growth 3Y1.16%
OM growth 5Y3.36%
PM growth 3Y-9.08%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.31 | ||
| Debt/FCF | 15.29 | ||
| Debt/EBITDA | 7.13 | ||
| Cap/Depr | 68.48% | ||
| Cap/Sales | 17.12% | ||
| Interest Coverage | 1.94 | ||
| Cash Conversion | 73.84% | ||
| Profit Quality | 498.22% | ||
| Current Ratio | 0.37 | ||
| Quick Ratio | 0.37 | ||
| Altman-Z | 0.5 |
F-Score4
WACC7.01%
ROIC/WACC0.64
Cap/Depr(3y)113.11%
Cap/Depr(5y)407.79%
Cap/Sales(3y)31.49%
Cap/Sales(5y)110.85%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-69.11%
EPS 3Y6.27%
EPS 5YN/A
EPS Q2Q%-84.62%
EPS Next Y-30.3%
EPS Next 2Y-13.82%
EPS Next 3Y-5.85%
EPS Next 5YN/A
Revenue 1Y (TTM)-9.89%
Revenue growth 3Y9.57%
Revenue growth 5Y14.71%
Sales Q2Q%-13.6%
Revenue Next Year-2.49%
Revenue Next 2Y0.5%
Revenue Next 3Y2.35%
Revenue Next 5Y4.55%
EBIT growth 1Y-12.49%
EBIT growth 3Y10.84%
EBIT growth 5Y18.56%
EBIT Next Year47.74%
EBIT Next 3Y17.27%
EBIT Next 5Y13.98%
FCF growth 1Y802.28%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-20.03%
OCF growth 3Y3.09%
OCF growth 5Y13.05%