First Industrial Realty Trust, Inc. (FR) vs Public Storage (PSA)

First Industrial Realty Trust, Inc. and Public Storage are both Reit Industrial companies. Public Storage is the larger, with a market value of $53.2B against $8.4B — 6.3× the size. First Industrial Realty Trust, Inc. trades at the lower P/E: 22.3× against 27.4×. First Industrial Realty Trust, Inc. grew revenue faster over the last twelve months: 8.44% against 2.97%. First Industrial Realty Trust, Inc. has the higher net margin (47.9% vs 37.7%) and the lower return on invested capital (3.71% vs 7.20%). Both pay a dividend; Public Storage yields more (4.22% vs 2.57%). Across the 23 metrics below, Public Storage leads on 14 and First Industrial Realty Trust, Inc. on 9.

Valuation

Metric FR PSA Reit Industrial median
P/E 22.32 27.45 28.30
P/S 10.68 10.36 8.16
P/B 2.83 10.26 1.89
Price to free cash flow 78.34 19.63 21.44
EV/EBITDA 20.09 17.97 17.97
EV/Sales 13.91 12.45 11.71
Earnings yield 4.48% 3.64% 3.38%
Free cash flow yield 1.28% 5.09% 2.71%

Profitability

Metric FR PSA Reit Industrial median
Gross margin 73.76% 72.51% 73.76%
Operating margin 41.59% 45.25% 39.85%
Net margin 47.94% 37.74% 28.04%
Free cash flow margin 13.63% 52.76% 13.63%
Return on equity 13.00% 36.68% 6.83%
Return on assets 6.48% 9.08% 3.45%
Return on invested capital 3.71% 7.20% 2.92%

Growth

Metric FR PSA Reit Industrial median
Revenue growth (TTM) 8.44% 2.97% 3.86%
EPS growth (last fiscal year) (13.82%) (15.32%) —
Revenue growth, 5-year CAGR 10.17% 10.60% 13.33%
Net income growth, 5-year CAGR 4.76% 7.62% 9.91%

Health

Metric FR PSA Reit Industrial median
Debt to equity 0.89 1.10 0.84
Current ratio 1.44 0.66 0.78
Net debt to EBITDA 4.87 2.92 4.76

Dividend

Metric FR PSA Reit Industrial median
Dividend yield 2.57% 4.22% 3.14%
Payout ratio 0.51 0.43 1.14

Size

Metric FR PSA Reit Industrial median
Market cap 8.41b 53.17b 8.24b

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