WallStSmart

Extra Space Storage Inc (EXR)vsFirst Industrial Realty Trust Inc (FR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Extra Space Storage Inc generates 374% more annual revenue ($3.45B vs $727.56M). FR leads profitability with a 34.0% profit margin vs 28.3%. EXR appears more attractively valued with a PEG of 3.44. EXR earns a higher WallStSmart Score of 57/100 (C).

EXR

Buy

57

out of 100

Grade: C

Growth: 6.7Profit: 7.5Value: 5.3Quality: 5.0
Piotroski: 3/9Altman Z: 0.90

FR

Buy

55

out of 100

Grade: C

Growth: 7.3Profit: 8.0Value: 5.3Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

EXRFair Value (-0.9%)

Margin of Safety

-0.9%

Fair Value

$141.15

Current Price

$130.26

$10.89 premium

UndervaluedFair: $141.15Overvalued
FRFair Value (-2.0%)

Margin of Safety

-2.0%

Fair Value

$58.19

Current Price

$57.00

$1.19 premium

UndervaluedFair: $58.19Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

EXR3 strengths · Avg: 9.0/10
Operating MarginProfitability
44.5%10/10

Strong operational efficiency at 44.5%

Profit MarginProfitability
28.3%9/10

Keeps 28 of every $100 in revenue as profit

Price/BookValuation
2.0x8/10

Reasonable price relative to book value

FR3 strengths · Avg: 9.3/10
Profit MarginProfitability
34.0%10/10

Keeps 34 of every $100 in revenue as profit

Operating MarginProfitability
42.1%10/10

Strong operational efficiency at 42.1%

Price/BookValuation
2.8x8/10

Reasonable price relative to book value

Areas to Watch

EXR4 concerns · Avg: 3.5/10
P/E RatioValuation
29.6x4/10

Moderate valuation

Revenue GrowthGrowth
4.6%4/10

4.6% revenue growth

Return on EquityProfitability
7.0%3/10

ROE of 7.0% — below average capital efficiency

Debt/EquityHealth
1.003/10

Elevated debt levels

FR3 concerns · Avg: 2.7/10
P/E RatioValuation
32.5x4/10

Premium valuation, high expectations priced in

PEG RatioValuation
3.742/10

Expensive relative to growth rate

Free Cash FlowQuality
$-508.18M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : EXR

The strongest argument for EXR centers on Operating Margin, Profit Margin, Price/Book. Profitability is solid with margins at 28.3% and operating margin at 44.5%.

Bull Case : FR

The strongest argument for FR centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 34.0% and operating margin at 42.1%.

Bear Case : EXR

The primary concerns for EXR are P/E Ratio, Revenue Growth, Return on Equity.

Bear Case : FR

The primary concerns for FR are P/E Ratio, PEG Ratio, Free Cash Flow.

Key Dynamics to Monitor

EXR profiles as a value stock while FR is a mature play — different risk/reward profiles.

EXR carries more volatility with a beta of 1.24 — expect wider price swings.

FR is growing revenue faster at 7.7% — sustainability is the question.

EXR generates stronger free cash flow (362M), providing more financial flexibility.

Bottom Line

EXR scores higher overall (57/100 vs 55/100), backed by strong 28.3% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Extra Space Storage Inc

REAL ESTATE · REIT - INDUSTRIAL · USA

Extra Space Storage is a real estate investment trust headquartered in Cottonwood Heights, Utah that invests in self storage units.

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First Industrial Realty Trust Inc

REAL ESTATE · REIT - INDUSTRIAL · USA

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated industrial real estate owner, operator, and developer with a history of providing industry-leading customer service to multinational corporations and regional clients.

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