EXTRA SPACE STORAGE INC (EXR)
US30225T1025 - REIT
Taking everything into account, EXR scores 4 out of 10 in our fundamental rating. EXR was compared to 28 industry peers in the Specialized REITs industry. There are concerns on the financial health of EXR while its profitability can be described as average. 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.
Each year in the past 5 years EXR has been profitable.
EXR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
EXR's Return On Assets of 2.89% is in line compared to the rest of the industry. EXR outperforms 42.86% of its industry peers.
EXR's Return On Equity of 5.66% is in line compared to the rest of the industry. EXR outperforms 50.00% of its industry peers.
EXR's Return On Invested Capital of 4.06% is on the low side compared to the rest of the industry. EXR is outperformed by 60.71% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EXR is in line with the industry average of 5.31%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.89% | ||
| ROE | 5.66% | ||
| ROIC | 4.06% |
ROA(3y)5.96%
ROA(5y)5.58%
ROE(3y)19.49%
ROE(5y)18.77%
ROIC(3y)5.71%
ROIC(5y)5.79%
1.3 Margins
The Profit Margin of EXR (25.41%) is better than 75.00% of its industry peers.
In the last couple of years the Profit Margin of EXR has declined.
Looking at the Operating Margin, with a value of 44.21%, EXR is in the better half of the industry, outperforming 67.86% of the companies in the same industry.
EXR's Operating Margin has been stable in the last couple of years.
The Gross Margin of EXR (72.75%) is comparable to the rest of the industry.
EXR's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 44.21% | ||
| PM (TTM) | 25.41% | ||
| GM | 72.75% |
OM growth 3Y0.37%
OM growth 5Y-0.37%
PM growth 3Y-4.06%
PM growth 5Y-2%
GM growth 3Y0.69%
GM growth 5Y0.07%
2. Health
2.1 Basic Checks
EXR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
EXR has more shares outstanding than it did 1 year ago.
The number of shares outstanding for EXR has been increased compared to 5 years ago.
Compared to 1 year ago, EXR has an improved debt to assets ratio.
2.2 Solvency
EXR has an Altman-Z score of 1.84. This is not the best score and indicates that EXR is in the grey zone with still only limited risk for bankruptcy at the moment.
EXR's Altman-Z score of 1.84 is fine compared to the rest of the industry. EXR outperforms 71.43% of its industry peers.
The Debt to FCF ratio of EXR is 8.97, which is on the high side as it means it would take EXR, 8.97 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 8.97, EXR is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
A Debt/Equity ratio of 0.81 indicates that EXR is somewhat dependend on debt financing.
The Debt to Equity ratio of EXR (0.81) is better than 75.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | 8.97 | ||
| Altman-Z | 1.84 |
ROIC/WACC0.54
WACC7.47%
2.3 Liquidity
A Current Ratio of 0.55 indicates that EXR may have some problems paying its short term obligations.
The Current ratio of EXR (0.55) is worse than 60.71% of its industry peers.
EXR has a Quick Ratio of 0.55. This is a bad value and indicates that EXR is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.55, EXR perfoms like the industry average, outperforming 42.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.55 | ||
| Quick Ratio | 0.55 |
3. Growth
3.1 Past
EXR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -31.81%.
EXR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.60% yearly.
EXR shows a strong growth in Revenue. In the last year, the Revenue has grown by 56.23%.
Measured over the past years, EXR shows a quite strong growth in Revenue. The Revenue has been growing by 16.43% on average per year.
EPS 1Y (TTM)-31.81%
EPS 3Y10.11%
EPS 5Y8.6%
EPS Q2Q%-20.67%
Revenue 1Y (TTM)56.23%
Revenue growth 3Y23.59%
Revenue growth 5Y16.43%
Sales Q2Q%58.16%
3.2 Future
The Earnings Per Share is expected to grow by 3.07% on average over the next years.
The Revenue is expected to grow by 8.12% on average over the next years. This is quite good.
EPS Next Y-10.24%
EPS Next 2Y0.44%
EPS Next 3Y3.21%
EPS Next 5Y3.07%
Revenue Next Year28.57%
Revenue Next 2Y14.81%
Revenue Next 3Y12.11%
Revenue Next 5Y8.12%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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
With a Price/Earnings ratio of 40.68, EXR can be considered very expensive at the moment.
EXR's Price/Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Earnings ratio of 31.77, EXR is valued a bit more expensive.
With a Price/Forward Earnings ratio of 34.12, EXR can be considered very expensive at the moment.
EXR's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of EXR to the average of the S&P500 Index (22.70), we can say EXR is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 40.68 | ||
| Fwd PE | 34.12 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EXR is valued a bit more expensive than the industry average as 75.00% of the companies are valued more cheaply.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of EXR is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 28.13 | ||
| EV/EBITDA | 22.43 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)4.73
EPS Next 2Y0.44%
EPS Next 3Y3.21%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.82%, EXR has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.35, EXR has a dividend in line with its industry peers.
EXR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.21.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.82% |
5.2 History
On average, the dividend of EXR grows each year by 12.53%, which is quite nice.
EXR has been paying a dividend for at least 10 years, so it has 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)12.53%
Div Incr Years14
Div Non Decr Years14
5.3 Sustainability
161.48% of the earnings are spent on dividend by EXR. This is not a sustainable payout ratio.
EXR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP161.48%
EPS Next 2Y0.44%
EPS Next 3Y3.21%
EXTRA SPACE STORAGE INC
NYSE:EXR (10/17/2024, 8:32:46 PM)
After market: 170.03 0 (0%)170.03
-2.09 (-1.21%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap36.03B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.82% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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EPS beat(8)
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EPS beat(12)
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EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
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Revenue beat(4)
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Revenue beat(8)
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Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 40.68 | ||
| Fwd PE | 34.12 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)4.73
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.89% | ||
| ROE | 5.66% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 44.21% | ||
| PM (TTM) | 25.41% | ||
| GM | 72.75% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.55 | ||
| Quick Ratio | 0.55 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)-31.81%
EPS 3Y10.11%
EPS 5Y
EPS Q2Q%
EPS Next Y-10.24%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)56.23%
Revenue growth 3Y23.59%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y