National Storage REIT
NSR.AXReal EstateASXREIT - Industrial
Scan Results
Daily timeframeNational Storage REIT is the largest self-storage provider in Australia and New Zealand. Valued at $4.26B, NSR.AX is a mid-cap name in its sector. With over 290 centres providing tailored storage solutions to over 100,000 residential and commercial customers.
Market Cap
$4.26B
Beta
0.44
P/E (TTM)
279.00
P/E (Fwd)
21.46
EPS (TTM)
$0.01
EPS (Fwd)
$0.13
ROE
6.1%
ROA
2.6%
Cash
$286.1M
Total Debt
$2.42B
Free CF
$37.5M
52W Change
19.7%
Annual Financials
Cash vs Debt
The company holds $286.1M in cash, though total debt stands at $2.42B. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. Annual free cash flow of $37.5M supports ongoing capital allocation decisions and provides a cushion against unexpected expenses or downturns. ROE of 6.1% points to modest capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 2.6% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $268.9M (2022) to $358.0M (2025), reflecting a 33% increase over the period.
The relatively low beta of 0.44 suggests NSR.AX is a less volatile holding compared to the broader index. National Storage REIT carries a heavier debt load relative to its cash position, which introduces financial risk that investors should weigh. The elevated P/E ratio means the stock is priced for significant future growth. If earnings disappoint, the price correction could be sharp. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence National Storage REIT's trajectory.