EXTRA SPACE STORAGE INC (EXR)
US30225T1025 - REIT
Overall EXR gets a fundamental rating of 4 out of 10. We evaluated EXR against 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 quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
EXR had positive earnings in the past year.
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
EXR has a Return On Assets of 2.89%. This is comparable to the rest of the industry: EXR outperforms 46.43% of its industry peers.
EXR has a Return On Equity of 5.66%. This is comparable to the rest of the industry: EXR outperforms 50.00% of its industry peers.
EXR has a Return On Invested Capital of 4.06%. This is in the lower half of the industry: EXR underperforms 64.29% of its industry peers.
EXR had an Average Return On Invested Capital over the past 3 years of 5.71%. This is in line with the industry average of 5.21%.
| 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 71.43% of its industry peers.
In the last couple of years the Profit Margin of EXR has declined.
EXR's Operating Margin of 44.21% is fine compared to the rest of the industry. EXR outperforms 64.29% of its industry peers.
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.
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 | 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
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.
Compared to 1 year ago, EXR has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.80, we must say that EXR is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of EXR (1.80) is better than 78.57% 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.
EXR has a better Debt to FCF ratio (8.97) than 78.57% of its industry peers.
A Debt/Equity ratio of 0.81 indicates that EXR is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.81, EXR is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | 8.97 | ||
| Altman-Z | 1.8 |
ROIC/WACC0.52
WACC7.76%
2.3 Liquidity
EXR has a Current 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.
The Current ratio of EXR (0.55) is worse than 71.43% 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.
EXR's Quick ratio of 0.55 is on the low side compared to the rest of the industry. EXR is outperformed by 71.43% of its industry peers.
| 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 -24.08%.
The Earnings Per Share has been growing by 8.60% on average over the past years. This is quite good.
The Revenue has grown by 33.05% in the past year. This is a very strong growth!
EXR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.43% yearly.
EPS 1Y (TTM)-24.08%
EPS 3Y10.11%
EPS 5Y8.6%
EPS Q2Q%-5.21%
Revenue 1Y (TTM)33.05%
Revenue growth 3Y23.59%
Revenue growth 5Y16.43%
Sales Q2Q%-4.97%
3.2 Future
EXR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.07% yearly.
The Revenue is expected to grow by 8.12% on average over the next years. This is quite good.
EPS Next Y-12.98%
EPS Next 2Y-0.85%
EPS Next 3Y1.82%
EPS Next 5Y3.07%
Revenue Next Year30.08%
Revenue Next 2Y15.43%
Revenue Next 3Y11.71%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 40.65 indicates a quite expensive valuation of EXR.
The rest of the industry has a similar Price/Earnings ratio as EXR.
EXR's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 28.96.
EXR is valuated quite expensively with a Price/Forward Earnings ratio of 34.56.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EXR is on the same level as its industry peers.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.82, EXR is valued a bit more expensive.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 40.65 | ||
| Fwd PE | 34.56 |
4.2 Price Multiples
EXR's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. EXR is more expensive than 75.00% of the companies in the same industry.
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 | 27.78 | ||
| EV/EBITDA | 21.91 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)4.73
EPS Next 2Y-0.85%
EPS Next 3Y1.82%
5. Dividend
5.1 Amount
EXR has a Yearly Dividend Yield of 3.97%. Purely for dividend investing, there may be better candidates out there.
EXR's Dividend Yield is comparable with the industry average which is at 4.54.
Compared to an average S&P500 Dividend Yield of 2.23, EXR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.97% |
5.2 History
The dividend of EXR is nicely growing with an annual growth rate of 12.53%!
EXR has been paying a dividend for at least 10 years, so it has 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 Years14
5.3 Sustainability
EXR pays out 161.48% 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.
DP161.48%
EPS Next 2Y-0.85%
EPS Next 3Y1.82%
EXTRA SPACE STORAGE INC
NYSE:EXR (11/22/2024, 10:42:44 AM)
167.865
+0.99 (+0.59%)
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 Cap35.58B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.97% |
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)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
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 | 40.65 | ||
| Fwd PE | 34.56 | ||
| 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)-24.08%
EPS 3Y10.11%
EPS 5Y
EPS Q2Q%
EPS Next Y-12.98%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)33.05%
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