• Extra Space Storage Inc average debt/equity ratio for 2023 was 1.27, a 24.4% decline from 2022.
• Extra Space Storage Inc average debt/equity ratio for 2022 was 1.68, a 4.35% decline from 2021.
• Extra Space Storage Inc average debt/equity ratio for 2021 was 1.61, a 14.81% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.