Realizing that vertical cavity surface emitting lasers (VCSELs) are continuously breaking higher bandwidth limits, it is essential to understand their basic material constituting properties and extract their physical characteristics, in order to fine tune their high-speed performance. Throughout the past decade, the device performance was continuously optimized towards higher bandwidths, faster data rates, and efficient operation. Therefore, for a successful further optimization of their dynamic characteristics, the extraction of a reliable set of their physical parameters becomes indispensable. Consequently, the main objective of this work is to provide accurate physical parameter values of cutting-edge high-speed VCSELs. The extraction process of these set of parameters is based on the novel intrinsic and extrinsic dynamic models that were recently developed by our research group. For the intrinsic dynamics, the advanced split carrier reservoir multimode model is employed. Furthermore, the pure intrinsic modulation response is de-embedded from the total measured device response using our recently proposed novel parasitic-network model. Moreover, the extraction of these device physical parameters is based on the device’s performance indicators, such as the relaxation oscillation frequencies and damping coefficients obtained by fitting the intrinsic model to the measured modulation data. Furthermore, since these performance indicators can be expressed in terms of a combination of these physical parameters, a precise estimation of their values and their possible ranges, along with a carefully designed fitting process, is crucial. Consequently, for extracting a reliable set of data, the accurate prior estimation of these parameters was conducted based on the device physical structure and reported material properties, leading to the establishment of an accurate set of parameters along with their possible ranges. These final calculations are based on simple device geometrical considerations, reported physical and material properties and device static performance measurements. Finally, the estimated values and their ranges are further validated by comparing them to ones in standard literature.