CubeSmart (CUBE) vs Extra Space Storage Inc (EXR)

CubeSmart and Extra Space Storage Inc are both Reit Industrial companies. Extra Space Storage Inc is the larger, with a market value of $29.2B against $8.5B — 3.4× the size. CubeSmart trades at the lower P/E: 25.9× against 29.4×. Extra Space Storage Inc grew revenue faster over the last twelve months: 4.16% against 3.86%. CubeSmart has the higher net margin (29.4% vs 27.8%) and the higher return on invested capital (4.67% vs 3.25%). Both pay a dividend; Extra Space Storage Inc yields more (4.51% vs 4.48%). Across the 23 metrics below, CubeSmart leads on 13 and Extra Space Storage Inc on 10.

Valuation

Metric CUBE EXR Reit Industrial median
P/E 25.90 29.44 28.30
P/S 7.55 8.16 8.16
P/B 3.30 1.98 1.89
Price to free cash flow 16.88 21.44 21.44
EV/EBITDA 17.02 19.10 17.97
EV/Sales 10.59 11.92 11.71
Earnings yield 3.86% 3.40% 3.38%
Free cash flow yield 5.92% 4.66% 2.71%

Profitability

Metric CUBE EXR Reit Industrial median
Gross margin 67.83% 70.78% 73.76%
Operating margin 39.85% 40.91% 39.85%
Net margin 29.41% 27.79% 28.04%
Free cash flow margin 44.71% 38.07% 13.63%
Return on equity 12.28% 6.64% 6.83%
Return on assets 5.03% 3.25% 3.45%
Return on invested capital 4.67% 3.25% 2.92%

Growth

Metric CUBE EXR Reit Industrial median
Revenue growth (TTM) 3.86% 4.16% 3.86%
EPS growth (last fiscal year) (15.12%) 13.90% —
Revenue growth, 5-year CAGR 10.58% 20.02% 13.33%
Net income growth, 5-year CAGR 15.05% 15.12% 9.91%

Health

Metric CUBE EXR Reit Industrial median
Debt to equity 1.34 0.96 0.84
Current ratio 0.07 1.56 0.78
Net debt to EBITDA 4.76 6.12 4.76

Dividend

Metric CUBE EXR Reit Industrial median
Dividend yield 4.48% 4.51% 3.14%
Payout ratio 1.10 1.18 1.14

Size

Metric CUBE EXR Reit Industrial median
Market cap 8.51b 29.18b 8.24b

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