EXTRA SPACE STORAGE INC (EXR) Stock Fundamental Analysis
NYSE:EXR - US30225T1025 - REIT
145 USD
+0.12 (+0.08%)
145 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. While EXR is still in line with the averages on profitability rating, there are concerns on its financial health. 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.
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
EXR has a better Return On Assets (3.32%) than 65.52% of its industry peers.
EXR has a better Return On Equity (7.07%) than 65.52% of its industry peers.
With a Return On Invested Capital value of 4.02%, EXR perfoms like the industry average, outperforming 44.83% of the companies in the same industry.
EXR had an Average Return On Invested Capital over the past 3 years of 4.86%. This 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.
The Operating Margin of EXR (43.33%) is better than 68.97% of its industry peers.
In the last couple of years the Operating Margin of EXR has declined.
The Gross Margin of EXR (71.25%) 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 | 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
EXR has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for EXR has been increased compared to 1 year ago.
Compared to 5 years ago, EXR has more shares outstanding
Compared to 1 year ago, EXR has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.37, we must say that EXR is in the distress zone and has some risk of bankruptcy.
EXR's Altman-Z score of 1.37 is fine compared to the rest of the industry. EXR outperforms 65.52% of its industry peers.
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 in line with 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 | 1.37 |
ROIC/WACC0.54
WACC7.48%
2.3 Liquidity
A Current Ratio of 0.30 indicates that EXR may have some problems paying its short term obligations.
EXR has a worse Current ratio (0.30) 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
The Earnings Per Share has grown by an nice 10.29% over the past year.
The Earnings Per Share has been growing slightly by 6.33% on average over the past years.
The Revenue has been growing slightly by 4.83% in the past year.
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
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 Y19.98%
EPS Next 2Y9.4%
EPS Next 3Y9.11%
EPS Next 5Y6.68%
Revenue Next Year2.42%
Revenue Next 2Y2.83%
Revenue Next 3Y3.98%
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
EXR is valuated quite expensively with a Price/Earnings ratio of 31.45.
Based on the Price/Earnings ratio, EXR is valued a bit cheaper than the industry average as 62.07% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 27.03. EXR is around the same levels.
Based on the Price/Forward Earnings ratio of 27.85, the valuation of EXR can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EXR indicates a somewhat cheap valuation: EXR is cheaper than 62.07% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.54, EXR is valued a bit more expensive.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 31.45 | ||
| Fwd PE | 27.85 |
4.2 Price Multiples
EXR's Enterprise Value to EBITDA is on the same level as the industry average.
EXR's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 39.15 | ||
| EV/EBITDA | 19.95 |
4.3 Compensation for Growth
EXR's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.57
PEG (5Y)4.97
EPS Next 2Y9.4%
EPS Next 3Y9.11%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.51%, EXR is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.89, 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 2.45.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.51% |
5.2 History
On average, the dividend of EXR grows each year by 12.75%, 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)12.75%
Div Incr Years0
Div Non Decr Years15
5.3 Sustainability
141.12% 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.
DP141.12%
EPS Next 2Y9.4%
EPS Next 3Y9.11%
145
+0.12 (+0.08%)
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 Change0.69%
Market Cap30.78B
Analysts68.8
Price Target161.33 (11.26%)
Short Float %1.59%
Short Ratio2.75
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.51% |
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)-2.83%
PT rev (3m)-3.28%
EPS NQ rev (1m)-0.21%
EPS NQ rev (3m)1.11%
EPS NY rev (1m)8.99%
EPS NY rev (3m)15.26%
Revenue NQ rev (1m)0.22%
Revenue NQ rev (3m)-0.7%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)0.62%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 31.45 | ||
| Fwd PE | 27.85 | ||
| P/S | 9.3 | ||
| P/FCF | 39.15 | ||
| P/OCF | 16.18 | ||
| P/B | 2.23 | ||
| P/tB | 2.26 | ||
| EV/EBITDA | 19.95 |
EPS(TTM)4.61
EY3.18%
EPS(NY)5.21
Fwd EY3.59%
FCF(TTM)3.7
FCFY2.55%
OCF(TTM)8.96
OCFY6.18%
SpS15.59
BVpS64.97
TBVpS64.07
PEG (NY)1.57
PEG (5Y)4.97
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 | 1.37 |
F-Score5
WACC7.48%
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 Year2.42%
Revenue Next 2Y2.83%
Revenue Next 3Y3.98%
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%