CubeSmart (CUBE) vs First Industrial Realty Trust, Inc. (FR)

CubeSmart and First Industrial Realty Trust, Inc. are both Reit Industrial companies. CubeSmart and First Industrial Realty Trust, Inc. are of similar size ($8.5B and $8.4B). First Industrial Realty Trust, Inc. trades at the lower P/E: 22.3× against 25.9×. First Industrial Realty Trust, Inc. grew revenue faster over the last twelve months: 8.44% against 3.86%. First Industrial Realty Trust, Inc. has the higher net margin (47.9% vs 29.4%) and the lower return on invested capital (3.71% vs 4.67%). Both pay a dividend; CubeSmart yields more (4.48% vs 2.57%). Across the 23 metrics below, First Industrial Realty Trust, Inc. leads on 12 and CubeSmart on 11.

Valuation

Metric CUBE FR Reit Industrial median
P/E 25.90 22.32 28.30
P/S 7.55 10.68 8.16
P/B 3.30 2.83 1.89
Price to free cash flow 16.88 78.34 21.44
EV/EBITDA 17.02 20.09 17.97
EV/Sales 10.59 13.91 11.71
Earnings yield 3.86% 4.48% 3.38%
Free cash flow yield 5.92% 1.28% 2.71%

Profitability

Metric CUBE FR Reit Industrial median
Gross margin 67.83% 73.76% 73.76%
Operating margin 39.85% 41.59% 39.85%
Net margin 29.41% 47.94% 28.04%
Free cash flow margin 44.71% 13.63% 13.63%
Return on equity 12.28% 13.00% 6.83%
Return on assets 5.03% 6.48% 3.45%
Return on invested capital 4.67% 3.71% 2.92%

Growth

Metric CUBE FR Reit Industrial median
Revenue growth (TTM) 3.86% 8.44% 3.86%
EPS growth (last fiscal year) (15.12%) (13.82%) —
Revenue growth, 5-year CAGR 10.58% 10.17% 13.33%
Net income growth, 5-year CAGR 15.05% 4.76% 9.91%

Health

Metric CUBE FR Reit Industrial median
Debt to equity 1.34 0.89 0.84
Current ratio 0.07 1.44 0.78
Net debt to EBITDA 4.76 4.87 4.76

Dividend

Metric CUBE FR Reit Industrial median
Dividend yield 4.48% 2.57% 3.14%
Payout ratio 1.10 0.51 1.14

Size

Metric CUBE FR Reit Industrial median
Market cap 8.51b 8.41b 8.24b

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