EXTRA SPACE STORAGE INC (EXR) Stock Fundamental Analysis
NYSE:EXR - New York Stock Exchange, Inc. - US30225T1025 - REIT - Currency: USD
EXR gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 28 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.
In the past 5 years EXR has always been profitable.
In the past 5 years EXR always reported a positive cash flow from operatings.
1.2 Ratios
EXR has a Return On Assets (2.88%) which is in line with its industry peers.
EXR has a Return On Equity (5.76%) which is comparable to the rest of the industry.
Looking at the Return On Invested Capital, with a value of 4.12%, EXR is doing worse than 64.29% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for EXR is in line with the industry average of 5.22%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.88% | ||
| ROE | 5.76% | ||
| ROIC | 4.12% |
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
Looking at the Profit Margin, with a value of 24.96%, EXR is in the better half of the industry, outperforming 67.86% of the companies in the same industry.
EXR's Profit Margin has declined in the last couple of years.
With a decent Operating Margin value of 43.45%, EXR is doing good in the industry, outperforming 64.29% of the companies in the same industry.
EXR's Operating Margin has been stable in the last couple of years.
EXR has a Gross Margin of 72.71%. This is comparable to the rest of the industry: EXR outperforms 50.00% of its industry peers.
EXR's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 43.45% | ||
| PM (TTM) | 24.96% | ||
| GM | 72.71% |
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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), EXR is destroying value.
The number of shares outstanding for EXR has been increased compared to 1 year ago.
EXR has more shares outstanding than it did 5 years ago.
EXR has a better debt/assets ratio than last year.
2.2 Solvency
EXR has an Altman-Z score of 1.61. This is a bad value and indicates that EXR is not financially healthy and even has some risk of bankruptcy.
EXR has a Altman-Z score of 1.61. This is in the better half of the industry: EXR outperforms 71.43% of its industry peers.
The Debt to FCF ratio of EXR is 9.58, which is on the high side as it means it would take EXR, 9.58 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 9.58, EXR is in the better half of the industry, outperforming 78.57% of the companies in the same industry.
EXR has a Debt/Equity ratio of 0.82. This is a neutral value indicating EXR is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.82, EXR is doing good in the industry, outperforming 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 9.58 | ||
| Altman-Z | 1.61 |
ROIC/WACC0.53
WACC7.76%
2.3 Liquidity
EXR has a Current Ratio of 0.27. This is a bad value and indicates that EXR is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of EXR (0.27) is worse than 85.71% of its industry peers.
EXR has a Quick Ratio of 0.27. 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 (0.27) than 85.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.27 | ||
| Quick Ratio | 0.27 |
3. Growth
3.1 Past
EXR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -24.08%.
EXR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.60% yearly.
Looking at the last year, EXR shows a very strong growth in Revenue. The Revenue has grown by 42.46%.
The Revenue has been growing by 16.43% on average over the past years. This is quite good.
EPS 1Y (TTM)-24.08%
EPS 3Y10.11%
EPS 5Y8.6%
EPS Q2Q%-5.21%
Revenue 1Y (TTM)42.46%
Revenue growth 3Y23.59%
Revenue growth 5Y16.43%
Sales Q2Q%-4.97%
3.2 Future
Based on estimates for the next years, EXR will show a small growth in Earnings Per Share. The EPS will grow by 4.84% on average per year.
Based on estimates for the next years, EXR will show a quite strong growth in Revenue. The Revenue will grow by 8.04% on average per year.
EPS Next Y-14.86%
EPS Next 2Y-1.78%
EPS Next 3Y1.13%
EPS Next 5Y4.84%
Revenue Next Year30.47%
Revenue Next 2Y15.61%
Revenue Next 3Y11.39%
Revenue Next 5Y8.04%
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
Based on the Price/Earnings ratio of 37.29, the valuation of EXR can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of EXR is on the same level as its industry peers.
EXR is valuated rather expensively when we compare the Price/Earnings ratio to 28.46, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 32.31, EXR can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EXR is on the same level as its industry peers.
EXR is valuated cheaply when we compare the Price/Forward Earnings ratio to 92.56, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 37.29 | ||
| Fwd PE | 32.31 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of EXR indicates a slightly more expensive valuation: EXR is more expensive than 67.86% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of EXR indicates a slightly more expensive valuation: EXR is more expensive than 60.71% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 27.14 | ||
| EV/EBITDA | 20.22 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)4.34
EPS Next 2Y-1.78%
EPS Next 3Y1.13%
5. Dividend
5.1 Amount
EXR has a Yearly Dividend Yield of 4.28%, which is a nice return.
Compared to an average industry Dividend Yield of 4.83, EXR is paying slightly less dividend.
EXR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.28% |
5.2 History
On average, the dividend of EXR grows each year by 12.53%, which is quite nice.
EXR has paid a dividend for at least 10 years, which is a reliable track record.
EXR has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)12.53%
Div Incr Years14
Div Non Decr Years15
5.3 Sustainability
EXR pays out 170.20% of its income as dividend. This is not a sustainable payout ratio.
EXR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP170.2%
EPS Next 2Y-1.78%
EPS Next 3Y1.13%
EXTRA SPACE STORAGE INC
NYSE:EXR (1/31/2025, 8:04:00 PM)
After market: 154 0 (0%)154
-0.71 (-0.46%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners99.5%
Inst Owner Change0.39%
Ins Owners0.96%
Ins Owner Change-0.66%
Market Cap32.64B
Analysts66.09
Price Target177.9 (15.52%)
Short Float %1.6%
Short Ratio3.41
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.28% |
Yearly Dividend6.06
Dividend Growth(5Y)12.53%
DP170.2%
Div Incr Years14
Div Non Decr Years15
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.86%
Min EPS beat(2)-19.64%
Max EPS beat(2)13.92%
EPS beat(4)2
Avg EPS beat(4)-5.37%
Min EPS beat(4)-19.64%
Max EPS beat(4)13.92%
EPS beat(8)5
Avg EPS beat(8)1.75%
EPS beat(12)9
Avg EPS beat(12)6.63%
EPS beat(16)13
Avg EPS beat(16)11.97%
Revenue beat(2)0
Avg Revenue beat(2)-6.17%
Min Revenue beat(2)-7.05%
Max Revenue beat(2)-5.29%
Revenue beat(4)0
Avg Revenue beat(4)-5.48%
Min Revenue beat(4)-7.05%
Max Revenue beat(4)-4.26%
Revenue beat(8)2
Avg Revenue beat(8)0.91%
Revenue beat(12)6
Avg Revenue beat(12)6.94%
Revenue beat(16)10
Avg Revenue beat(16)10.05%
PT rev (1m)-0.17%
PT rev (3m)-0.69%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.16%
EPS NY rev (1m)0%
EPS NY rev (3m)-5.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)7.97%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.48%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 37.29 | ||
| Fwd PE | 32.31 | ||
| P/S | 10.1 | ||
| P/FCF | 27.14 | ||
| P/OCF | 17.71 | ||
| P/B | 2.33 | ||
| P/tB | 2.37 | ||
| EV/EBITDA | 20.22 |
EPS(TTM)4.13
EY2.68%
EPS(NY)4.77
Fwd EY3.09%
FCF(TTM)5.67
FCFY3.68%
OCF(TTM)8.7
OCFY5.65%
SpS15.25
BVpS66.09
TBVpS65.1
PEG (NY)N/A
PEG (5Y)4.34
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.88% | ||
| ROE | 5.76% | ||
| ROCE | 5.21% | ||
| ROIC | 4.12% | ||
| ROICexc | 4.13% | ||
| ROICexgc | 4.16% | ||
| OM | 43.45% | ||
| PM (TTM) | 24.96% | ||
| GM | 72.71% | ||
| FCFM | 37.21% |
ROA(3y)5.96%
ROA(5y)5.58%
ROE(3y)19.49%
ROE(5y)18.77%
ROIC(3y)5.71%
ROIC(5y)5.79%
ROICexc(3y)5.75%
ROICexc(5y)5.84%
ROICexgc(3y)5.88%
ROICexgc(5y)5.96%
ROCE(3y)7.23%
ROCE(5y)7.33%
ROICexcg growth 3Y-14.18%
ROICexcg growth 5Y-9.78%
ROICexc growth 3Y-14.1%
ROICexc growth 5Y-9.62%
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%
F-Score6
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 9.58 | ||
| Debt/EBITDA | 5.27 | ||
| Cap/Depr | 81.85% | ||
| Cap/Sales | 19.82% | ||
| Interest Coverage | 2.74 | ||
| Cash Conversion | 84.27% | ||
| Profit Quality | 149.07% | ||
| Current Ratio | 0.27 | ||
| Quick Ratio | 0.27 | ||
| Altman-Z | 1.61 |
F-Score6
WACC7.76%
ROIC/WACC0.53
Cap/Depr(3y)366.11%
Cap/Depr(5y)292.21%
Cap/Sales(3y)56.86%
Cap/Sales(5y)46.21%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-24.08%
EPS 3Y10.11%
EPS 5Y8.6%
EPS Q2Q%-5.21%
EPS Next Y-14.86%
EPS Next 2Y-1.78%
EPS Next 3Y1.13%
EPS Next 5Y4.84%
Revenue 1Y (TTM)42.46%
Revenue growth 3Y23.59%
Revenue growth 5Y16.43%
Sales Q2Q%-4.97%
Revenue Next Year30.47%
Revenue Next 2Y15.61%
Revenue Next 3Y11.39%
Revenue Next 5Y8.04%
EBIT growth 1Y21.05%
EBIT growth 3Y24.05%
EBIT growth 5Y16%
EBIT Next Year80.54%
EBIT Next 3Y24.61%
EBIT Next 5Y16.06%
FCF growth 1Y281.47%
FCF growth 3Y36.86%
FCF growth 5Y38.95%
OCF growth 1Y57.43%
OCF growth 3Y22.06%
OCF growth 5Y15.65%