The leading self-storage company in the United States is Public Storage, which generated over 2.5 billion dollars in revenue in 2017, over twice as much as the second largest company, Extra Space Storage. Both companies boast over 100 million square feet of rental space across the United States. However, neither company operates in every state in the union; a distinction that goes to U-Haul, Inc.
Although its revenue has grown steadily in the last couple years, Public Storage has seen a declining market capitalization value since 2015, decreasing from about 43 billion U.S. dollars to about 36 billion dollars in 2017. In addition, the company’s debt has skyrocketed from 391 million dollars in 2016 to over 1.4 billion dollars in 2017. Public Storage’s debt to total assets ratio has grown from 2 percent in 2015 to about 4.4 percent in 2017.
Founded in 1977 in Billings, Montana, Extra Space Storage is now the second largest self-storage company in the United States. In contrast to Public Storage, Extra Space Storage has seen a relatively stable market capitalization value over the last several years, combined with a rapidly growing net income. However, the company’s debt has also ballooned to over 4.5 billion dollars as of 2017.