Extra Space Storage Inc (EXR) vs First Industrial Realty Trust, Inc. (FR)

Extra Space Storage Inc and First Industrial Realty Trust, Inc. are both Reit Industrial companies. Extra Space Storage Inc is the larger, with a market value of $34.9B against $7.4B — 4.7× the size. First Industrial Realty Trust, Inc. trades at the lower P/E: 20.1× against 32.5×. First Industrial Realty Trust, Inc. grew revenue faster over the last twelve months: 8.55% against 4.05%. First Industrial Realty Trust, Inc. has the higher net margin (46.1% vs 29.9%) and the higher return on invested capital (3.68% vs 3.52%). Both pay a dividend; Extra Space Storage Inc yields more (4.05% vs 3.60%). Across the 22 metrics below, First Industrial Realty Trust, Inc. leads on 14 and Extra Space Storage Inc on 8.

Valuation

Metric EXR FR Reit Industrial median
P/E 32.52 20.10 29.08
P/S 9.69 9.25 8.75
P/B 2.45 2.50 1.88
Price to free cash flow 31.87 n/m 27.37
EV/EBITDA 20.64 18.18 19.77
EV/Sales 13.51 12.60 11.83
Earnings yield 3.08% 4.97% 3.06%
Free cash flow yield 3.14% (0.33%) 2.68%

Profitability

Metric EXR FR Reit Industrial median
Gross margin 70.94% 73.75% 73.76%
Operating margin 43.78% 41.57% 40.64%
Net margin 29.89% 46.10% 30.03%
Free cash flow margin 30.41% (3.03%) 18.60%
Return on equity 7.36% 12.74% 7.37%
Return on assets 3.57% 6.28% 3.98%
Return on invested capital 3.52% 3.68% 3.18%

Growth

Metric EXR FR Reit Industrial median
Revenue growth (TTM) 4.05% 8.55% 4.61%
EPS growth (last fiscal year) 13.90% (13.82%) (2.22%)
Revenue growth, 5-year CAGR 20.02% 10.17% 14.64%
Net income growth, 5-year CAGR 15.12% 4.76% 12.19%

Health

Metric EXR FR Reit Industrial median
Debt to equity 0.97 0.92 0.82
Current ratio 0.25 1.06 0.91
Net debt to EBITDA 6.12 4.87 4.82

Dividend

Metric EXR FR Reit Industrial median
Dividend yield 4.05% 3.60% 4.05%
Payout ratio 1.32 0.72 1.15

Size

Metric EXR FR Reit Industrial median
Market cap 34.92b 7.39b 7.97b

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