Extra Space Storage Inc (EXR) vs Prologis, Inc. (PLD)

Extra Space Storage Inc and Prologis, Inc. are both Reit Industrial companies. Prologis, Inc. is the larger, with a market value of $124.6B against $34.9B — 3.6× the size. Prologis, Inc. trades at the lower P/E: 28.0× against 31.9×. Prologis, Inc. grew revenue faster over the last twelve months: 7.16% against 4.05%. Prologis, Inc. has the higher net margin (45.5% vs 29.9%) and the lower return on invested capital (3.38% vs 3.52%). Both pay a dividend; Extra Space Storage Inc yields more (4.08% vs 3.32%). Across the 23 metrics below, Prologis, Inc. leads on 12 and Extra Space Storage Inc on 11.

Valuation

Metric EXR PLD Reit Industrial median
P/E 31.90 28.01 28.01
P/S 9.63 12.82 8.69
P/B 2.43 1.99 1.81
Price to free cash flow 20.35 44.39 25.37
EV/EBITDA 20.54 21.02 19.45
EV/Sales 13.45 16.51 11.77
Earnings yield 3.13% 3.57% 3.26%
Free cash flow yield 4.91% 2.25% 2.70%

Profitability

Metric EXR PLD Reit Industrial median
Gross margin 70.94% 74.33% 73.76%
Operating margin 43.78% 54.83% 40.64%
Net margin 29.91% 45.45% 30.04%
Free cash flow margin 47.30% 28.89% 20.13%
Return on equity 7.36% 7.25% 7.41%
Return on assets 3.57% 4.21% 3.98%
Return on invested capital 3.52% 3.38% 3.45%

Growth

Metric EXR PLD Reit Industrial median
Revenue growth (TTM) 4.05% 7.16% 4.61%
EPS growth (last fiscal year) 13.90% (8.95%) (2.22%)
Revenue growth, 5-year CAGR 20.02% 14.64% 14.64%
Net income growth, 5-year CAGR 15.12% 17.66% 12.19%

Health

Metric EXR PLD Reit Industrial median
Debt to equity 0.97 0.61 0.82
Current ratio 0.25 0.81 0.91
Net debt to EBITDA 6.12 5.31 4.82

Dividend

Metric EXR PLD Reit Industrial median
Dividend yield 4.08% 3.32% 4.08%
Payout ratio 1.31 0.93 1.11

Size

Metric EXR PLD Reit Industrial median
Market cap 34.92b 124.64b 7.74b

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