Fact based stock research
National Storage (ASX:NSR)

AU000000NSR2

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

National Storage stock research in summary

nationalstorageinvest.com.au

ANALYSIS: With an Obermatt Combined Rank of 34 (worse than 66% compared with investment alternatives), National Storage (REITs: Specialized, Australia) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of National Storage are a good value (attractively priced) with a consolidated Value Rank of 68 (better than 68% of alternatives) but show below-average growth (Growth Rank of 29), and are riskily financed (Safety Rank of 29), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 34, is a hold recommendation based on National Storage's financial characteristics. As the company National Storage's key financial metrics exhibit good value (Obermatt Value Rank of 68) but low growth (Obermatt Growth Rank of 29) and risky financing practices (Obermatt Safety Rank of 29), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 68% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	68
Growth Rank	29
Safety Rank	29
Combined Rank	34

Country	Australia
Industry	REITs: Specialized
Index	ASX 200, ASX 300
Size class	Small

This stock has achievements: Top 10 Stock.

27-Mar-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: National Storage

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	43	68	55	68
GROWTH
GROWTH	65	43	75	29
SAFETY
SAFETY	34	47	55	29
SENTIMENT
SENTIMENT	18	50	82	^new
360° VIEW
360° VIEW	19	54	92	^new

Most recent update of the stock research: 27-Mar-2025. Financial reporting date used for calculating ranks: 30-Jun-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better National Storage is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	43	68	55	68
GROWTH
GROWTH	65	43	75	29
SAFETY
SAFETY	34	47	55	29
COMBINED
COMBINED	47	76	85	34

Last update of combined financial performance: 27-Mar-2025. Stock analysis on combined financial performance: The higher the rank of National Storage the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 68 (better than 68% compared with alternatives), National Storage shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for National Storage. Expected dividend yields are higher than for 71% of comparable companies (a Dividend Yield rank of 71), making the stock attractive. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 78, which means that the stock price is lower compared with invested capital than for 78% of comparable investments. But in respect to sales and profits, the picture is reversed. Price-to-Sales is 34 which means that the stock price compared with what market professionals expect for future profits is higher than for 66% of comparable companies, indicating a low value concerning National Storage's sales levels. The Price-to-Profit ratio (also referred to as price-earnings (P/E) ratio) is also unfavorable for National Storage with a rank of 39. This means that the stock price, compared with what market professionals expect for future profits, is higher than for 61% of comparable companies, indicating a low value concerning National Storage's profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 68, is a buy recommendation based on National Storage's stock price compared with the company's operational size and dividend yields. The company seems confident that it can generate a reasonable return on invested capital, because it pays an above-average dividend while profits are below what you would expect for a company with this stock price. If you agree with this practice and believe that profits will return to higher levels, as the current dividend policy suggests, National Storage may be an attractive investment. If this is not the case, you may want to be careful with this stock as it is also expensive compared with its expected revenue levels. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	25	27	32	34
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	17	30	34	39
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	63	73	77	78
DIVIDEND YIELD
DIVIDEND YIELD	58	70	67	71
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	43	68	55	68

Last update of Value Rank: 27-Mar-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of National Storage; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 29 (better than 29% compared with alternatives), National Storage shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below-average for National Storage. While Sales Growth ranks at 56, professionals currently expect the company to grow more than 56% of its competitors, while all other growth ranks are below the market median. Profit Growth has a rank of 40, which means that, currently, professionals expect the company to grow its profits less than 60% of its competitors, and Capital Growth has a low rank of 19. Historic stock returns were also below average with a current Stock Returns rank of 33 which means that the stock returns have recently been below 67% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 29, is a hold recommendation for growth and momentum investors. If revenues are expected to increase, but all other growth indicators are negative, the company may be investing in future growth through means not visible in the balance sheet and thus not reflected in capital growth. The fact that Stock Returns have been below market doesn't mean that much, as it may be due to overly optimistic investor behavior in the past, which has been corrected to a more reasonable level recently. If that were the case, a positive Value Rank would be a reason to invest because the company is still expected to grow, while stock prices are now at a more reasonable level. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance isn't stellar here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	49	60	67	56
PROFIT GROWTH
PROFIT GROWTH	67	44	41	40
CAPITAL GROWTH
CAPITAL GROWTH	44	24	92	19
STOCK RETURNS
STOCK RETURNS	83	41	43	33
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	65	43	75	29

Last update of Growth Rank: 27-Mar-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of National Storage.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 29 (better than 29% compared with alternatives), the company National Storage has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of National Storage is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for National Storage. Leverage is at a rank of 61, meaning the company has a below-average debt-to-equity ratio. It has less debt than 61% of its competitors. Liquidity is also good at a rank of 53, meaning the company generates more profit to service its debt than 53% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 7, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 93% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 29 (worse than 71% compared with alternatives), National Storage has a financing structure that is riskier than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for National Storage. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with National Storage and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	63	69	60	61
REFINANCING
REFINANCING	28	22	43	7
LIQUIDITY
LIQUIDITY	39	55	55	53
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	34	47	55	29

Last update of Safety Rank: 27-Mar-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of National Storage and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	38	34	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	59	^new
PRO HOLDINGS
PRO HOLDINGS	94	98	96	^new
MARKET PULSE
MARKET PULSE	12	25	73	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	18	50	82	^new

Last update of Sentiment Rank: 27-Mar-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for National Storage.
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