EXTRA SPACE STORAGE INC (EXR) Stock Fundamental Analysis
USA - NYSE:EXR - US30225T1025 - REIT
142.82 USD
+1.35 (+0.95%)
142.82 USD
0 (0%)
We assign a fundamental rating of 4 out of 10 to EXR. EXR was compared to 29 industry peers in the Specialized REITs industry. There are concerns on the financial health of EXR while its profitability can be described as average. While showing a medium growth rate, EXR is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year EXR was profitable.
EXR had a positive operating cash flow in the past year.
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 of 3.32%. This is in the better half of the industry: EXR outperforms 65.52% of its industry peers.
Looking at the Return On Equity, with a value of 7.07%, EXR is in the better half of the industry, outperforming 65.52% of the companies in the same industry.
EXR has a Return On Invested Capital (4.02%) which is comparable to the rest of the industry.
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
With a decent Profit Margin value of 29.46%, EXR is doing good in the industry, outperforming 72.41% of the companies in the same industry.
In the last couple of years the Profit Margin of EXR has declined.
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.
In the last couple of years the Operating Margin of EXR has declined.
EXR has a Gross Margin of 71.25%. This is comparable to the rest of the industry: EXR outperforms 48.28% of its industry peers.
EXR's Gross Margin has been stable in the last couple of years.
| 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.
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.
The debt/assets ratio for EXR is higher compared to a year ago.
2.2 Solvency
EXR has an Altman-Z score of 1.35. This is a bad value and indicates that EXR is not financially healthy and even has some risk of bankruptcy.
EXR has a better Altman-Z score (1.35) than 62.07% of its industry peers.
The Debt to FCF ratio of EXR is 16.42, which is on the high side as it means it would take EXR, 16.42 years of fcf income to pay off all of its debts.
EXR's Debt to FCF ratio of 16.42 is in line compared to the rest of the industry. EXR outperforms 51.72% of its industry peers.
A Debt/Equity ratio of 0.94 indicates that EXR is somewhat dependend on debt financing.
EXR has a Debt to Equity ratio (0.94) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.94 | ||
| Debt/FCF | 16.42 | ||
| Altman-Z | 1.35 |
ROIC/WACC0.54
WACC7.49%
2.3 Liquidity
A Current Ratio of 0.30 indicates that EXR may have some problems paying its short term obligations.
With a Current ratio value of 0.30, EXR is not doing good in the industry: 82.76% of the companies in the same industry are doing better.
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.
EXR has a Quick ratio of 0.30. This is amonst the worse of the industry: EXR underperforms 82.76% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.3 | ||
| Quick Ratio | 0.3 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 10.29% over the past year.
EXR shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.33% yearly.
Looking at the last year, EXR shows a small growth in Revenue. The Revenue has grown by 4.83% in the last year.
EXR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 20.01% yearly.
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
EXR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.68% yearly.
Based on estimates for the next years, EXR will show a small growth in Revenue. The Revenue will grow by 3.58% on average per year.
EPS Next Y11.8%
EPS Next 2Y6.48%
EPS Next 3Y6.05%
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
A Price/Earnings ratio of 30.98 indicates a quite expensive valuation of EXR.
62.07% of the companies in the same industry are more expensive than EXR, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.86, EXR is valued at the same level.
Based on the Price/Forward Earnings ratio of 28.96, the valuation of EXR can be described as expensive.
EXR's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. EXR is cheaper than 62.07% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 23.29. EXR is valued slightly more expensive when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.98 | ||
| Fwd PE | 28.96 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as EXR.
EXR's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 38.56 | ||
| EV/EBITDA | 19.61 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.63
PEG (5Y)4.89
EPS Next 2Y6.48%
EPS Next 3Y6.05%
5. Dividend
5.1 Amount
EXR has a Yearly Dividend Yield of 4.71%, which is a nice return.
Compared to an average industry Dividend Yield of 5.94, 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 2.41.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.71% |
5.2 History
On average, the dividend of EXR grows each year by 12.75%, 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 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 2Y6.48%
EPS Next 3Y6.05%
142.82
+1.35 (+0.95%)
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 Change-1.4%
Ins Owners0.9%
Ins Owner Change0.71%
Market Cap30.31B
Analysts68.8
Price Target161.39 (13%)
Short Float %1.76%
Short Ratio3.16
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.71% |
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)-0.63%
PT rev (3m)-3.25%
EPS NQ rev (1m)0.38%
EPS NQ rev (3m)1.45%
EPS NY rev (1m)-6.82%
EPS NY rev (3m)1.55%
Revenue NQ rev (1m)0.11%
Revenue NQ rev (3m)0.46%
Revenue NY rev (1m)-0.49%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 30.98 | ||
| Fwd PE | 28.96 | ||
| P/S | 9.16 | ||
| P/FCF | 38.56 | ||
| P/OCF | 15.94 | ||
| P/B | 2.2 | ||
| P/tB | 2.23 | ||
| EV/EBITDA | 19.61 |
EPS(TTM)4.61
EY3.23%
EPS(NY)4.93
Fwd EY3.45%
FCF(TTM)3.7
FCFY2.59%
OCF(TTM)8.96
OCFY6.27%
SpS15.59
BVpS64.97
TBVpS64.07
PEG (NY)2.63
PEG (5Y)4.89
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 | 1.35 |
F-Score5
WACC7.49%
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 Y11.8%
EPS Next 2Y6.48%
EPS Next 3Y6.05%
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 Year51.03%
EBIT Next 3Y16.82%
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%