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 $29.2B against $8.4B — 3.5× the size. First Industrial Realty Trust, Inc. trades at the lower P/E: 22.3× against 29.4×. First Industrial Realty Trust, Inc. grew revenue faster over the last twelve months: 8.44% against 4.16%. First Industrial Realty Trust, Inc. has the higher net margin (47.9% vs 27.8%) and the higher return on invested capital (3.71% vs 3.25%). Both pay a dividend; Extra Space Storage Inc yields more (4.51% vs 2.57%). Across the 23 metrics below, Extra Space Storage Inc leads on 12 and First Industrial Realty Trust, Inc. on 11.

Valuation

Metric EXR FR Reit Industrial median
P/E 29.44 22.32 28.30
P/S 8.16 10.68 8.16
P/B 1.98 2.83 1.89
Price to free cash flow 21.44 78.34 21.44
EV/EBITDA 19.10 20.09 17.97
EV/Sales 11.92 13.91 11.71
Earnings yield 3.40% 4.48% 3.38%
Free cash flow yield 4.66% 1.28% 2.71%

Profitability

Metric EXR FR Reit Industrial median
Gross margin 70.78% 73.76% 73.76%
Operating margin 40.91% 41.59% 39.85%
Net margin 27.79% 47.94% 28.04%
Free cash flow margin 38.07% 13.63% 13.63%
Return on equity 6.64% 13.00% 6.83%
Return on assets 3.25% 6.48% 3.45%
Return on invested capital 3.25% 3.71% 2.92%

Growth

Metric EXR FR Reit Industrial median
Revenue growth (TTM) 4.16% 8.44% 3.86%
EPS growth (last fiscal year) 13.90% (13.82%) —
Revenue growth, 5-year CAGR 20.02% 10.17% 13.33%
Net income growth, 5-year CAGR 15.12% 4.76% 9.91%

Health

Metric EXR FR Reit Industrial median
Debt to equity 0.96 0.89 0.84
Current ratio 1.56 1.44 0.78
Net debt to EBITDA 6.12 4.87 4.76

Dividend

Metric EXR FR Reit Industrial median
Dividend yield 4.51% 2.57% 3.14%
Payout ratio 1.18 0.51 1.14

Size

Metric EXR FR Reit Industrial median
Market cap 29.18b 8.41b 8.24b

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