EXTRA SPACE STORAGE INC (EXR) Stock Fundamental Analysis
USA - NYSE:EXR - US30225T1025 - REIT
143.18 USD
-0.24 (-0.17%)
143.18 USD
0 (0%)
Taking everything into account, EXR scores 4 out of 10 in our fundamental rating. EXR was compared to 29 industry peers in the Specialized REITs industry. EXR has a medium profitability rating, but doesn't score so well on its financial health evaluation. 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.
EXR had a positive operating cash flow in the past year.
Each year in the past 5 years EXR has been profitable.
In the past 5 years EXR always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.32%, EXR is in the better half of the industry, outperforming 65.52% of the companies in the same industry.
EXR's Return On Equity of 7.07% is fine compared to the rest of the industry. EXR outperforms 65.52% of its industry peers.
EXR has a Return On Invested Capital (4.02%) which is in line with its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for EXR is in line with the industry average of 4.79%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.32% | ||
| ROE | 7.07% | ||
| ROIC | 4.02% |
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 29.46%, EXR is in the better half of the industry, outperforming 72.41% of the companies in the same industry.
EXR's Profit Margin has declined in the last couple of years.
EXR has a Operating Margin of 43.33%. This is in the better half of the industry: EXR outperforms 68.97% of its industry peers.
EXR's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 71.25%, EXR is in line with its industry, outperforming 48.28% of the companies in the same 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 | 43.33% | ||
| PM (TTM) | 29.46% | ||
| GM | 71.25% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so EXR is destroying value.
The number of shares outstanding for EXR has been increased compared to 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 a worse debt to assets ratio.
2.2 Solvency
EXR has an Altman-Z score of 1.36. This is a bad value and indicates that EXR is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.36, EXR is in the better half of the industry, outperforming 62.07% of the companies in the same industry.
EXR has a debt to FCF ratio of 16.42. This is a negative value and a sign of low solvency as EXR would need 16.42 years to pay back of all of its debts.
EXR has a Debt to FCF ratio (16.42) which is comparable to the rest of the industry.
EXR has a Debt/Equity ratio of 0.94. This is a neutral value indicating EXR is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.94, EXR perfoms like the industry average, outperforming 58.62% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.94 | ||
| Debt/FCF | 16.42 | ||
| Altman-Z | 1.36 |
ROIC/WACC0.54
WACC7.45%
2.3 Liquidity
EXR has a Current Ratio of 0.30. 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 (0.30) is worse than 82.76% of its industry peers.
EXR has a Quick Ratio of 0.30. 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 Quick ratio, with a value of 0.30, EXR is doing worse than 82.76% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.3 |
3. Growth
3.1 Past
EXR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.29%, 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 4.83%.
Measured over the past years, EXR shows a very strong growth in Revenue. The Revenue has been growing by 20.01% on average per year.
EPS 1Y (TTM)10.29%
EPS 3Y-11.05%
EPS 5Y6.33%
EPS Q2Q%-0.84%
Revenue 1Y (TTM)4.83%
Revenue growth 3Y27.34%
Revenue growth 5Y20.01%
Sales Q2Q%3.43%
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 6.68% on average per year.
The Revenue is expected to grow by 3.58% on average over the next years.
EPS Next Y19.98%
EPS Next 2Y9.4%
EPS Next 3Y9.11%
EPS Next 5Y6.68%
Revenue Next Year1.92%
Revenue Next 2Y2.95%
Revenue Next 3Y4.49%
Revenue Next 5Y3.58%
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 stable.
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
The Price/Earnings ratio is 31.06, which means the current valuation is very expensive for EXR.
The rest of the industry has a similar Price/Earnings ratio as EXR.
EXR is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.20, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 27.50 indicates a quite expensive valuation of EXR.
Based on the Price/Forward Earnings ratio, EXR is valued a bit cheaper than 65.52% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.70, EXR is valued a bit more expensive.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 31.06 | ||
| Fwd PE | 27.5 |
4.2 Price Multiples
EXR's Enterprise Value to EBITDA is on the same level as the industry average.
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 | 38.66 | ||
| EV/EBITDA | 19.78 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.55
PEG (5Y)4.9
EPS Next 2Y9.4%
EPS Next 3Y9.11%
5. Dividend
5.1 Amount
EXR has a Yearly Dividend Yield of 4.37%, which is a nice return.
EXR's Dividend Yield is comparable with the industry average which is at 5.99.
Compared to an average S&P500 Dividend Yield of 2.38, EXR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.37% |
5.2 History
The dividend of EXR is nicely growing with an annual growth rate of 12.75%!
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)12.75%
Div Incr Years0
Div Non Decr Years15
5.3 Sustainability
EXR pays out 141.12% 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.
DP141.12%
EPS Next 2Y9.4%
EPS Next 3Y9.11%
143.18
-0.24 (-0.17%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners99.69%
Inst Owner Change-1.39%
Ins Owners0.9%
Ins Owner Change0.73%
Market Cap30.39B
Analysts68.8
Price Target161.39 (12.72%)
Short Float %1.63%
Short Ratio2.91
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.37% |
Yearly Dividend6.5
Dividend Growth(5Y)12.75%
DP141.12%
Div Incr Years0
Div Non Decr Years15
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.34%
Min EPS beat(2)1.04%
Max EPS beat(2)23.64%
EPS beat(4)3
Avg EPS beat(4)5.35%
Min EPS beat(4)-19.64%
Max EPS beat(4)23.64%
EPS beat(8)6
Avg EPS beat(8)6.42%
EPS beat(12)9
Avg EPS beat(12)4.81%
EPS beat(16)13
Avg EPS beat(16)8.4%
Revenue beat(2)0
Avg Revenue beat(2)-7.48%
Min Revenue beat(2)-8.65%
Max Revenue beat(2)-6.31%
Revenue beat(4)0
Avg Revenue beat(4)-7.46%
Min Revenue beat(4)-8.65%
Max Revenue beat(4)-6.31%
Revenue beat(8)1
Avg Revenue beat(8)-2.58%
Revenue beat(12)3
Avg Revenue beat(12)0.16%
Revenue beat(16)7
Avg Revenue beat(16)5.19%
PT rev (1m)-2.8%
PT rev (3m)-3.25%
EPS NQ rev (1m)0.17%
EPS NQ rev (3m)1.45%
EPS NY rev (1m)8.99%
EPS NY rev (3m)15.26%
Revenue NQ rev (1m)0.28%
Revenue NQ rev (3m)0.46%
Revenue NY rev (1m)-0.42%
Revenue NY rev (3m)0.13%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 31.06 | ||
| Fwd PE | 27.5 | ||
| P/S | 9.19 | ||
| P/FCF | 38.66 | ||
| P/OCF | 15.98 | ||
| P/B | 2.2 | ||
| P/tB | 2.23 | ||
| EV/EBITDA | 19.78 |
EPS(TTM)4.61
EY3.22%
EPS(NY)5.21
Fwd EY3.64%
FCF(TTM)3.7
FCFY2.59%
OCF(TTM)8.96
OCFY6.26%
SpS15.59
BVpS64.97
TBVpS64.07
PEG (NY)1.55
PEG (5Y)4.9
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.32% | ||
| ROE | 7.07% | ||
| ROCE | 5.09% | ||
| ROIC | 4.02% | ||
| ROICexc | 4.04% | ||
| ROICexgc | 4.07% | ||
| OM | 43.33% | ||
| PM (TTM) | 29.46% | ||
| GM | 71.25% | ||
| FCFM | 23.76% |
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%
ROICexcg growth 3Y-15.49%
ROICexcg 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-Score5
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.94 | ||
| Debt/FCF | 16.42 | ||
| Debt/EBITDA | 5.91 | ||
| Cap/Depr | 149% | ||
| Cap/Sales | 33.73% | ||
| Interest Coverage | 2.59 | ||
| Cash Conversion | 87.14% | ||
| Profit Quality | 80.65% | ||
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.3 | ||
| Altman-Z | 1.36 |
F-Score5
WACC7.45%
ROIC/WACC0.54
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)10.29%
EPS 3Y-11.05%
EPS 5Y6.33%
EPS Q2Q%-0.84%
EPS Next Y19.98%
EPS Next 2Y9.4%
EPS Next 3Y9.11%
EPS Next 5Y6.68%
Revenue 1Y (TTM)4.83%
Revenue growth 3Y27.34%
Revenue growth 5Y20.01%
Sales Q2Q%3.43%
Revenue Next Year1.92%
Revenue Next 2Y2.95%
Revenue Next 3Y4.49%
Revenue Next 5Y3.58%
EBIT growth 1Y2.75%
EBIT growth 3Y18.82%
EBIT growth 5Y17.19%
EBIT Next Year51.1%
EBIT Next 3Y17.19%
EBIT Next 5Y12.01%
FCF growth 1Y399.44%
FCF growth 3YN/A
FCF growth 5Y29.67%
OCF growth 1Y54.98%
OCF growth 3Y25.61%
OCF growth 5Y21.68%