EXTRA SPACE STORAGE INC (EXR)
US30225T1025 - REIT
EXR gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals 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. Finally EXR also has an excellent dividend rating.
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
The Return On Assets of EXR (2.92%) is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 5.57%, EXR is in line with its industry, outperforming 46.43% of the companies in the same industry.
EXR's Return On Invested Capital of 3.63% is on the low side compared to the rest of the industry. EXR is outperformed by 64.29% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EXR is in line with the industry average of 5.04%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.92% | ||
| ROE | 5.57% | ||
| ROIC | 3.63% |
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
With a decent Profit Margin value of 31.32%, EXR is doing good in the industry, outperforming 78.57% of the companies in the same industry.
In the last couple of years the Profit Margin of EXR has declined.
EXR has a better Operating Margin (48.31%) than 75.00% of its industry peers.
EXR's Operating Margin has been stable in the last couple of years.
EXR has a Gross Margin (73.80%) which 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 | 48.31% | ||
| PM (TTM) | 31.32% | ||
| GM | 73.8% |
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.
Compared to 1 year ago, EXR has more shares outstanding
Compared to 5 years ago, EXR has more shares outstanding
The debt/assets ratio for EXR has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.51, we must say that EXR is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of EXR (1.51) is better than 71.43% of its industry peers.
EXR has a debt to FCF ratio of 11.41. This is a negative value and a sign of low solvency as EXR would need 11.41 years to pay back of all of its debts.
The Debt to FCF ratio of EXR (11.41) is better than 67.86% of its industry peers.
EXR has a Debt/Equity ratio of 0.77. This is a neutral value indicating EXR is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.77, EXR is doing good in the industry, outperforming 75.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | 11.41 | ||
| Altman-Z | 1.51 |
ROIC/WACC0.43
WACC8.38%
2.3 Liquidity
EXR has a Current Ratio of 0.56. This is a bad value and indicates that EXR is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.56, EXR is not doing good in the industry: 64.29% of the companies in the same industry are doing better.
A Quick Ratio of 0.56 indicates that EXR may have some problems paying its short term obligations.
EXR has a worse Quick ratio (0.56) than 60.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.56 | ||
| Quick Ratio | 0.56 |
3. Growth
3.1 Past
EXR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -21.84%.
EXR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.60% yearly.
EXR shows a strong growth in Revenue. In the last year, the Revenue has grown by 33.06%.
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)-21.84%
EPS 3Y10.11%
EPS 5Y8.6%
EPS growth Q2Q-32.89%
Revenue 1Y (TTM)33.06%
Revenue growth 3Y23.59%
Revenue growth 5Y16.43%
Revenue growth Q2Q57.45%
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 6.75% on average per year.
The Revenue is expected to grow by 8.16% on average over the next years. This is quite good.
EPS Next Y-10.65%
EPS Next 2Y-0.5%
EPS Next 3Y1.64%
EPS Next 5Y6.75%
Revenue Next Year28.52%
Revenue Next 2Y15.48%
Revenue Next 3Y12.53%
Revenue Next 5Y8.16%
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
EXR is valuated quite expensively with a Price/Earnings ratio of 27.26.
60.71% of the companies in the same industry are more expensive than EXR, based on the Price/Earnings ratio.
EXR is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 25.25, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 30.51, 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 rather expensively when we compare the Price/Forward Earnings ratio to 21.67, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 27.26 | ||
| Fwd PE | 30.51 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EXR is valued a bit more expensive than the industry average as 78.57% of the companies are valued more cheaply.
The rest of the industry has a similar Price/Free Cash Flow ratio as EXR.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 29.51 | ||
| EV/EBITDA | 22.45 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)3.17
EPS Next 2Y-0.5%
EPS Next 3Y1.64%
5. Dividend
5.1 Amount
EXR has a Yearly Dividend Yield of 4.83%, which is a nice return.
EXR's Dividend Yield is a higher than the industry average which is at 5.04.
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 | 4.83% |
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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)12.53%
Div Incr Years14
Div Non Decr Years14
5.3 Sustainability
EXR pays out 130.48% 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.
DP130.48%
EPS Next 2Y-0.5%
EPS Next 3Y1.64%
EXTRA SPACE STORAGE INC
NYSE:EXR (4/24/2024, 7:04:00 PM)
After market: 134.64 0 (0%)134.64
+1.36 (+1.02%)
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 Cap28.49B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.83% |
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)
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Min EPS beat(4)
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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)
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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 | 27.26 | ||
| Fwd PE | 30.51 | ||
| 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)3.17
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.92% | ||
| ROE | 5.57% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 48.31% | ||
| PM (TTM) | 31.32% | ||
| GM | 73.8% | ||
| 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 Turnover0.09
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.77 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.56 | ||
| Quick Ratio | 0.56 | ||
| 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)
Growth
EPS 1Y (TTM)-21.84%
EPS 3Y10.11%
EPS 5Y
EPS growth Q2Q
EPS Next Y-10.65%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)33.06%
Revenue growth 3Y23.59%
Revenue growth 5Y
Revenue growth 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