Shurgard Self Storage Ltd
F:S8V
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Income Statement
Earnings Waterfall
Shurgard Self Storage Ltd
Income Statement
Shurgard Self Storage Ltd
| Dec-2019 | Jun-2020 | Dec-2020 | Jun-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Jun-2023 | Dec-2023 | Jun-2024 | Dec-2024 | Jun-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||
| Interest Expense |
19
|
18
|
18
|
19
|
20
|
21
|
21
|
20
|
23
|
25
|
36
|
51
|
|
| Revenue |
257
N/A
|
263
+3%
|
271
+3%
|
283
+4%
|
300
+6%
|
318
+6%
|
335
+6%
|
348
+4%
|
358
+3%
|
373
+4%
|
407
+9%
|
440
+8%
|
|
| Gross Profit | |||||||||||||
| Cost of Revenue |
(92)
|
(94)
|
(97)
|
(98)
|
(97)
|
(100)
|
(103)
|
(106)
|
(109)
|
(114)
|
(124)
|
(135)
|
|
| Gross Profit |
165
N/A
|
169
+3%
|
175
+3%
|
185
+6%
|
203
+10%
|
218
+7%
|
232
+7%
|
242
+4%
|
249
+3%
|
259
+4%
|
282
+9%
|
305
+8%
|
|
| Operating Income | |||||||||||||
| Operating Expenses |
(20)
|
55
|
(21)
|
(25)
|
(31)
|
(34)
|
(37)
|
(38)
|
(42)
|
(46)
|
(53)
|
(58)
|
|
| Selling, General & Administrative |
(21)
|
(22)
|
(21)
|
(25)
|
(31)
|
(34)
|
(38)
|
(40)
|
(42)
|
(46)
|
(47)
|
(50)
|
|
| Research & Development |
2
|
(0)
|
2
|
2
|
2
|
3
|
4
|
4
|
4
|
5
|
5
|
5
|
|
| Depreciation & Amortization |
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(5)
|
|
| Other Operating Expenses |
0
|
79
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(2)
|
(7)
|
(7)
|
|
| Operating Income |
144
N/A
|
355
+146%
|
154
-57%
|
160
+4%
|
172
+8%
|
184
+7%
|
196
+6%
|
204
+4%
|
208
+2%
|
212
+2%
|
229
+8%
|
247
+8%
|
|
| Pre-Tax Income | |||||||||||||
| Interest Income Expense |
63
|
0
|
246
|
270
|
452
|
701
|
565
|
290
|
274
|
301
|
296
|
467
|
|
| Non-Reccuring Items |
(2)
|
(2)
|
(0)
|
0
|
0
|
0
|
1
|
0
|
(1)
|
(2)
|
0
|
1
|
|
| Total Other Income |
0
|
(19)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
3
|
0
|
0
|
|
| Pre-Tax Income |
206
N/A
|
335
+63%
|
399
+19%
|
430
+8%
|
625
+45%
|
885
+42%
|
762
-14%
|
493
-35%
|
481
-2%
|
514
+7%
|
525
+2%
|
715
+36%
|
|
| Net Income | |||||||||||||
| Tax Provision |
(56)
|
(88)
|
(109)
|
(138)
|
(177)
|
(213)
|
(186)
|
32
|
53
|
(107)
|
(122)
|
(148)
|
|
| Income from Continuing Operations |
150
|
247
|
290
|
292
|
448
|
672
|
576
|
526
|
534
|
406
|
404
|
567
|
|
| Income to Minority Interest |
(1)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
|
| Net Income (Common) |
149
N/A
|
247
+65%
|
289
+17%
|
292
+1%
|
447
+53%
|
671
+50%
|
574
-14%
|
525
-9%
|
533
+2%
|
406
-24%
|
403
-1%
|
566
+41%
|
|
| EPS (Diluted) |
1.67
N/A
|
2.76
+65%
|
3.25
+18%
|
3.27
+1%
|
5
+53%
|
7.4
+48%
|
6.45
-13%
|
5.87
-9%
|
5.89
+0%
|
4.14
-30%
|
4.11
-1%
|
5.74
+40%
|
|
