EXTRA SPACE STORAGE INC (EXR) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:EXR - US30225T1025 - REIT
131.46 USD
+2.65 (+2.06%)
131.46 USD
0 (0%)
We assign a fundamental rating of 4 out of 10 to EXR. EXR was compared to 30 industry peers in the Specialized REITs industry. While EXR is still in line with the averages on profitability rating, there are concerns on its financial health. EXR is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year EXR was profitable.
In the past year EXR had a positive cash flow from operations.
EXR had positive earnings in each of the past 5 years.
Each year in the past 5 years EXR had a positive operating cash flow.
1.2 Ratios
The Return On Assets of EXR (3.24%) is better than 63.33% of its industry peers.
Looking at the Return On Equity, with a value of 6.96%, EXR is in line with its industry, outperforming 60.00% of the companies in the same industry.
EXR has a Return On Invested Capital (4.10%) which is comparable to the rest of the industry.
EXR had an Average Return On Invested Capital over the past 3 years of 4.86%. This is in line with the industry average of 4.77%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.24% | ||
| ROE | 6.96% | ||
| ROIC | 4.1% |
ROA(3y)4.31%
ROA(5y)5.19%
ROE(3y)12.69%
ROE(5y)16.69%
ROIC(3y)4.86%
ROIC(5y)5.36%
1.3 Margins
Looking at the Profit Margin, with a value of 28.35%, EXR is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
In the last couple of years the Profit Margin of EXR has declined.
The Operating Margin of EXR (43.52%) is better than 70.00% of its industry peers.
In the last couple of years the Operating Margin of EXR has declined.
EXR has a Gross Margin (70.74%) which is comparable to the rest of the industry.
In the last couple of years the Gross Margin of EXR has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 43.52% | ||
| PM (TTM) | 28.35% | ||
| GM | 70.74% |
OM growth 3Y-6.69%
OM growth 5Y-2.35%
PM growth 3Y-20.63%
PM growth 5Y-3.95%
GM growth 3Y-0.98%
GM growth 5Y-0.06%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), EXR is destroying value.
EXR has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, EXR has more shares outstanding
The debt/assets ratio for EXR is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.26, we must say that EXR is in the distress zone and has some risk of bankruptcy.
With a decent Altman-Z score value of 1.26, EXR is doing good in the industry, outperforming 63.33% of the companies in the same industry.
The Debt to FCF ratio of EXR is 15.11, which is on the high side as it means it would take EXR, 15.11 years of fcf income to pay off all of its debts.
EXR has a Debt to FCF ratio (15.11) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.95 indicates that EXR is somewhat dependend on debt financing.
EXR has a Debt to Equity ratio of 0.95. This is comparable to the rest of the industry: EXR outperforms 60.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.95 | ||
| Debt/FCF | 15.11 | ||
| Altman-Z | 1.26 |
ROIC/WACC0.56
WACC7.3%
2.3 Liquidity
EXR has a Current Ratio of 0.32. This is a bad value and indicates that EXR is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.32, EXR is doing worse than 80.00% of the companies in the same industry.
EXR has a Quick Ratio of 0.32. This is a bad value and indicates that EXR is not financially healthy enough and could expect problems in meeting its short term obligations.
EXR has a worse Quick ratio (0.32) than 80.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.32 | ||
| Quick Ratio | 0.32 |
3. Growth
3.1 Past
EXR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.47%, which is quite good.
Measured over the past 5 years, EXR shows a small growth in Earnings Per Share. The EPS has been growing by 6.33% on average per year.
EXR shows a small growth in Revenue. In the last year, the Revenue has grown by 3.38%.
EXR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 20.01% yearly.
EPS 1Y (TTM)8.47%
EPS 3Y-11.05%
EPS 5Y6.33%
EPS Q2Q%-14.29%
Revenue 1Y (TTM)3.38%
Revenue growth 3Y27.34%
Revenue growth 5Y20.01%
Sales Q2Q%3.48%
3.2 Future
EXR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.68% yearly.
The Revenue is expected to grow by 3.58% on average over the next years.
EPS Next Y12.64%
EPS Next 2Y6.78%
EPS Next 3Y6.24%
EPS Next 5Y6.68%
Revenue Next Year1.52%
Revenue Next 2Y3.03%
Revenue Next 3Y4.51%
Revenue Next 5Y3.58%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 29.34, the valuation of EXR can be described as expensive.
EXR's Price/Earnings is on the same level as the industry average.
EXR's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.47.
The Price/Forward Earnings ratio is 26.50, which means the current valuation is very expensive for EXR.
The rest of the industry has a similar Price/Forward Earnings ratio as EXR.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.42, EXR is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 29.34 | ||
| Fwd PE | 26.5 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of EXR is on the same level as its industry peers.
The rest of the industry has a similar Price/Free Cash Flow ratio as EXR.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 32.67 | ||
| EV/EBITDA | 18.62 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates EXR does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)2.32
PEG (5Y)4.63
EPS Next 2Y6.78%
EPS Next 3Y6.24%
5. Dividend
5.1 Amount
EXR has a Yearly Dividend Yield of 5.03%, which is a nice return.
EXR's Dividend Yield is comparable with the industry average which is at 6.15.
Compared to an average S&P500 Dividend Yield of 2.41, EXR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.03% |
5.2 History
The dividend of EXR is nicely growing with an annual growth rate of 12.75%!
EXR has paid a dividend for at least 10 years, which is a reliable track record.
EXR has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)12.75%
Div Incr Years0
Div Non Decr Years15
5.3 Sustainability
EXR pays out 145.22% of its income as dividend. This is not a sustainable payout ratio.
The dividend of EXR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP145.22%
EPS Next 2Y6.78%
EPS Next 3Y6.24%
131.46
+2.65 (+2.06%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners98.94%
Inst Owner Change0.07%
Ins Owners0.9%
Ins Owner Change-0.04%
Market Cap27.90B
Revenue(TTM)3.34B
Net Income(TTM)947.44M
Analysts69.6
Price Target160.25 (21.9%)
Short Float %1.88%
Short Ratio3.57
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.03% |
Yearly Dividend6.5
Dividend Growth(5Y)12.75%
DP145.22%
Div Incr Years0
Div Non Decr Years15
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-17.3%
Min EPS beat(2)-35.64%
Max EPS beat(2)1.04%
EPS beat(4)3
Avg EPS beat(4)1.35%
Min EPS beat(4)-35.64%
Max EPS beat(4)23.64%
EPS beat(8)5
Avg EPS beat(8)-2.01%
EPS beat(12)8
Avg EPS beat(12)1.62%
EPS beat(16)12
Avg EPS beat(16)5.31%
Revenue beat(2)0
Avg Revenue beat(2)-6.46%
Min Revenue beat(2)-6.61%
Max Revenue beat(2)-6.31%
Revenue beat(4)0
Avg Revenue beat(4)-7.35%
Min Revenue beat(4)-8.65%
Max Revenue beat(4)-6.31%
Revenue beat(8)0
Avg Revenue beat(8)-6.42%
Revenue beat(12)2
Avg Revenue beat(12)-1.84%
Revenue beat(16)6
Avg Revenue beat(16)3.36%
PT rev (1m)-0.39%
PT rev (3m)-1.33%
EPS NQ rev (1m)-0.21%
EPS NQ rev (3m)2.08%
EPS NY rev (1m)-0.24%
EPS NY rev (3m)-6.12%
Revenue NQ rev (1m)0.12%
Revenue NQ rev (3m)0.32%
Revenue NY rev (1m)0.1%
Revenue NY rev (3m)-0.87%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 29.34 | ||
| Fwd PE | 26.5 | ||
| P/S | 8.35 | ||
| P/FCF | 32.67 | ||
| P/OCF | 14.76 | ||
| P/B | 2.05 | ||
| P/tB | 2.08 | ||
| EV/EBITDA | 18.62 |
EPS(TTM)4.48
EY3.41%
EPS(NY)4.96
Fwd EY3.77%
FCF(TTM)4.02
FCFY3.06%
OCF(TTM)8.91
OCFY6.78%
SpS15.75
BVpS64.16
TBVpS63.28
PEG (NY)2.32
PEG (5Y)4.63
Graham Number80.42
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.24% | ||
| ROE | 6.96% | ||
| ROCE | 5.19% | ||
| ROIC | 4.1% | ||
| ROICexc | 4.12% | ||
| ROICexgc | 4.15% | ||
| OM | 43.52% | ||
| PM (TTM) | 28.35% | ||
| GM | 70.74% | ||
| FCFM | 25.55% |
ROA(3y)4.31%
ROA(5y)5.19%
ROE(3y)12.69%
ROE(5y)16.69%
ROIC(3y)4.86%
ROIC(5y)5.36%
ROICexc(3y)4.89%
ROICexc(5y)5.4%
ROICexgc(3y)4.99%
ROICexgc(5y)5.5%
ROCE(3y)6.15%
ROCE(5y)6.79%
ROICexgc growth 3Y-15.49%
ROICexgc growth 5Y-8.59%
ROICexc growth 3Y-15.27%
ROICexc growth 5Y-8.37%
OM growth 3Y-6.69%
OM growth 5Y-2.35%
PM growth 3Y-20.63%
PM growth 5Y-3.95%
GM growth 3Y-0.98%
GM growth 5Y-0.06%
F-Score6
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.95 | ||
| Debt/FCF | 15.11 | ||
| Debt/EBITDA | 5.9 | ||
| Cap/Depr | 141.76% | ||
| Cap/Sales | 31.02% | ||
| Interest Coverage | 2.64 | ||
| Cash Conversion | 86.5% | ||
| Profit Quality | 90.14% | ||
| Current Ratio | 0.32 | ||
| Quick Ratio | 0.32 | ||
| Altman-Z | 1.26 |
F-Score6
WACC7.3%
ROIC/WACC0.56
Cap/Depr(3y)221.95%
Cap/Depr(5y)275.25%
Cap/Sales(3y)37.71%
Cap/Sales(5y)44.84%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8.47%
EPS 3Y-11.05%
EPS 5Y6.33%
EPS Q2Q%-14.29%
EPS Next Y12.64%
EPS Next 2Y6.78%
EPS Next 3Y6.24%
EPS Next 5Y6.68%
Revenue 1Y (TTM)3.38%
Revenue growth 3Y27.34%
Revenue growth 5Y20.01%
Sales Q2Q%3.48%
Revenue Next Year1.52%
Revenue Next 2Y3.03%
Revenue Next 3Y4.51%
Revenue Next 5Y3.58%
EBIT growth 1Y3.53%
EBIT growth 3Y18.82%
EBIT growth 5Y17.19%
EBIT Next Year51.03%
EBIT Next 3Y16.82%
EBIT Next 5Y12.01%
FCF growth 1Y-0.03%
FCF growth 3YN/A
FCF growth 5Y29.67%
OCF growth 1Y42.36%
OCF growth 3Y25.61%
OCF growth 5Y21.68%
EXTRA SPACE STORAGE INC / EXR FAQ
What is the fundamental rating for EXR stock?
ChartMill assigns a fundamental rating of 4 / 10 to EXR.
Can you provide the valuation status for EXTRA SPACE STORAGE INC?
ChartMill assigns a valuation rating of 2 / 10 to EXTRA SPACE STORAGE INC (EXR). This can be considered as Overvalued.
What is the profitability of EXR stock?
EXTRA SPACE STORAGE INC (EXR) has a profitability rating of 5 / 10.
What are the PE and PB ratios of EXTRA SPACE STORAGE INC (EXR) stock?
The Price/Earnings (PE) ratio for EXTRA SPACE STORAGE INC (EXR) is 29.34 and the Price/Book (PB) ratio is 2.05.
Can you provide the financial health for EXR stock?
The financial health rating of EXTRA SPACE STORAGE INC (EXR) is 1 / 10.