Comprehensive Stock Comparison
Compare Extra Space Storage Inc. (EXR) vs Prologis, Inc. (PLD) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | EXR | 27.6% revenue growth vs PLD's 2.2% |
| Value | EXR | Lower P/E (31.7x vs 42.6x) |
| Quality / Margins | PLD | 36.7% net margin vs EXR's 28.9% |
| Stability / Safety | EXR | Beta 0.56 vs PLD's 0.85 |
| Dividends | EXR | 4.3% yield, 15-year raise streak, vs PLD's 2.6% |
| Momentum (1Y) | PLD | +18.3% vs EXR's +3.2% |
| Efficiency (ROA) | PLD | 3.3% ROA vs EXR's 3.3%, ROIC 3.8% vs 3.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Extra Space Storage is a real estate investment trust that owns and operates self-storage facilities across the United States. It generates revenue primarily through rental income from storage units — including boat, RV, and business storage — with property management fees contributing additional income. The company benefits from economies of scale as the second-largest self-storage operator in the U.S., leveraging its national brand recognition and sophisticated revenue management systems.
Prologis is a global owner and operator of logistics real estate — primarily warehouses and distribution centers — serving e-commerce and supply chain customers. It generates revenue primarily through rental income from long-term leases to logistics companies, retailers, and manufacturers, with property management and development services providing additional income. The company's competitive advantage lies in its massive scale — owning nearly 1 billion square feet of prime logistics space in key global markets — and its deep relationships with major logistics and e-commerce players.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
PLD leads in 2 of 6 categories (Financial Metrics, Total Returns). EXR leads in 2 (Valuation Metrics, Analyst Outlook). 2 tied.
Financial Metrics (TTM)
PLD is the larger business by revenue, generating $8.7B annually — 2.6x EXR's $3.3B. PLD is the more profitable business, keeping 36.7% of every revenue dollar as net income compared to EXR's 28.9%. On growth, PLD holds the edge at +8.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EXRExtra Space Stora… | PLDPrologis, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $3.3B | $8.7B |
| EBITDAEarnings before interest/tax | $2.1B | $6.7B |
| Net IncomeAfter-tax profit | $953M | $3.2B |
| Free Cash FlowCash after capex | $1.9B | $5.2B |
| Gross MarginGross profit ÷ Revenue | +67.7% | +67.7% |
| Operating MarginEBIT ÷ Revenue | +43.1% | +47.0% |
| Net MarginNet income ÷ Revenue | +28.9% | +36.7% |
| FCF MarginFCF ÷ Revenue | +57.2% | +59.3% |
| Rev. Growth (YoY)Latest quarter vs prior year | -9.0% | +8.7% |
| EPS Growth (YoY)Latest quarter vs prior year | -14.3% | -24.1% |
Valuation Metrics
At 35.6x trailing earnings, PLD trades at a 5% valuation discount to EXR's 37.5x P/E. Adjusting for growth (PEG ratio), PLD offers better value at 3.29x vs EXR's 8.40x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | EXRExtra Space Stora… | PLDPrologis, Inc. |
|---|---|---|
| Market CapShares × price | $32.1B | $132.4B |
| Enterprise ValueMkt cap + debt − cash | $44.9B | $162.6B |
| Trailing P/EPrice ÷ TTM EPS | 37.48x | 35.55x |
| Forward P/EPrice ÷ next-FY EPS est. | 31.65x | 42.61x |
| PEG RatioP/E ÷ EPS growth rate | 8.40x | 3.29x |
| EV / EBITDAEnterprise value multiple | 21.39x | 23.24x |
| Price / SalesMarket cap ÷ Revenue | 9.60x | 16.14x |
| Price / BookPrice ÷ Book value/share | 2.15x | 2.32x |
| Price / FCFMarket cap ÷ FCF | 17.17x | 26.95x |
Profitability & Efficiency
EXR delivers a 6.6% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $6 for PLD. PLD carries lower financial leverage with a 0.54x debt-to-equity ratio, signaling a more conservative balance sheet compared to EXR's 0.88x.
| Metric | EXRExtra Space Stora… | PLDPrologis, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +6.6% | +5.6% |
| ROA (TTM)Return on assets | +3.3% | +3.3% |
| ROICReturn on invested capital | +3.7% | +3.8% |
| ROCEReturn on capital employed | +5.0% | +4.8% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 0.88x | 0.54x |
| Net DebtTotal debt minus cash | $12.9B | $30.2B |
| Cash & Equiv.Liquid assets | $138M | $1.3B |
| Total DebtShort + long-term debt | $13.0B | $31.5B |
| Interest CoverageEBIT ÷ Interest expense | 2.22x | 5.27x |
Total Returns (with DRIP)
A $10,000 investment in PLD five years ago would be worth $16,053 today (with dividends reinvested), compared to $14,619 for EXR. Over the past 12 months, PLD leads with a +18.3% total return vs EXR's +3.2%. The 3-year compound annual growth rate (CAGR) favors PLD at 7.6% vs EXR's 1.2% — a key indicator of consistent wealth creation.
| Metric | EXRExtra Space Stora… | PLDPrologis, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +15.3% | +10.5% |
| 1-Year ReturnPast 12 months | +3.2% | +18.3% |
| 3-Year ReturnCumulative with dividends | +3.5% | +24.7% |
| 5-Year ReturnCumulative with dividends | +46.2% | +60.5% |
| 10-Year ReturnCumulative with dividends | +140.5% | +340.5% |
| CAGR (3Y)Annualised 3-year return | +1.2% | +7.6% |
Risk & Volatility
EXR is the less volatile stock with a 0.56 beta — it tends to amplify market swings less than PLD's 0.85 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PLD currently trades 99.0% from its 52-week high vs EXR's 94.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | EXRExtra Space Stora… | PLDPrologis, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.56x | 0.85x |
| 52-Week HighHighest price in past year | $160.58 | $143.95 |
| 52-Week LowLowest price in past year | $121.03 | $85.35 |
| % of 52W HighCurrent price vs 52-week peak | +94.1% | +99.0% |
| RSI (14)Momentum oscillator 0–100 | 58.2 | 67.9 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 2.8M |
Analyst Outlook
Wall Street rates EXR as "Hold" and PLD as "Buy". Consensus price targets imply -0.7% upside for EXR (target: $150) vs -4.6% for PLD (target: $136). For income investors, EXR offers the higher dividend yield at 4.30% vs PLD's 2.63%.
| Metric | EXRExtra Space Stora… | PLDPrologis, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $150.00 | $136.00 |
| # AnalystsCovering analysts | 28 | 41 |
| Dividend YieldAnnual dividend ÷ price | +4.3% | +2.6% |
| Dividend StreakConsecutive years of raises | 15 | 11 |
| Dividend / ShareAnnual DPS | $6.50 | $3.74 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | 100 | 128.27 | +28.3% |
| Prologis, Inc. (PLD) | 100 | 146.91 | +46.9% |
Prologis, Inc. (PLD) returned +61% over 5 years vs Extra Space Storage… (EXR)'s +46%. A $10,000 investment in PLD 5 years ago would be worth $16,053 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | $795M | $3.3B | +320.1% |
| Prologis, Inc. (PLD) | $2.2B | $8.2B | +273.3% |
Extra Space Storage Inc.'s revenue grew from $795M (2015) to $3.3B (2024) — a 17.3% CAGR. Prologis, Inc.'s revenue grew from $2.2B (2015) to $8.2B (2024) — a 15.8% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | 23.8% | 25.6% | +7.4% |
| Prologis, Inc. (PLD) | 39.6% | 45.5% | +15.0% |
Extra Space Storage Inc.'s net margin went from 24% (2015) to 26% (2024). Prologis, Inc.'s net margin went from 40% (2015) to 45% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | 23.3 | 37.1 | +59.2% |
| Prologis, Inc. (PLD) | 21.1 | 26.4 | +25.1% |
Extra Space Storage Inc. has traded in a 23x–37x P/E range over 8 years; current trailing P/E is ~37x. Prologis, Inc. has traded in a 21x–51x P/E range over 8 years; current trailing P/E is ~36x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | 1.56 | 4.03 | +158.3% |
| Prologis, Inc. (PLD) | 1.64 | 4.01 | +144.5% |
Extra Space Storage Inc.'s EPS grew from $1.56 (2015) to $4.03 (2024) — a 11% CAGR. Prologis, Inc.'s EPS grew from $1.64 (2015) to $4.01 (2024) — a 10% CAGR.
Chart 6Free Cash Flow — 5 Years
Extra Space Storage Inc. generated $2B FCF in 2024 (+97% vs 2021). Prologis, Inc. generated $5B FCF in 2024 (+97% vs 2021).
EXR vs PLD: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is EXR or PLD a better buy right now?
Prologis, Inc. (PLD) offers the better valuation at 35.6x trailing P/E (42.6x forward), making it the more compelling value choice. Analysts rate Prologis, Inc. (PLD) a "Buy" — based on 41 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — EXR or PLD?
On trailing P/E, Prologis, Inc. (PLD) is the cheapest at 35.6x versus Extra Space Storage Inc. at 37.5x. On forward P/E, Extra Space Storage Inc. is actually cheaper at 31.7x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Prologis, Inc. wins at 3.94x versus Extra Space Storage Inc.'s 7.10x.
03Which is the better long-term investment — EXR or PLD?
Over the past 5 years, Prologis, Inc. (PLD) delivered a total return of +60.5%, compared to +46.2% for Extra Space Storage Inc. (EXR). A $10,000 investment in PLD five years ago would be worth approximately $16K today (assuming dividends reinvested). Over 10 years, the gap is even starker: PLD returned +340.5% versus EXR's +140.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — EXR or PLD?
By beta (market sensitivity over 5 years), Extra Space Storage Inc. (EXR) is the lower-risk stock at 0.56β versus Prologis, Inc.'s 0.85β — meaning PLD is approximately 51% more volatile than EXR relative to the S&P 500. On balance sheet safety, Prologis, Inc. (PLD) carries a lower debt/equity ratio of 54% versus 88% for Extra Space Storage Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — EXR or PLD?
Prologis, Inc. (PLD) is the more profitable company, earning 45.5% net margin versus 25.6% for Extra Space Storage Inc. — meaning it keeps 45.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PLD leads at 53.8% versus 39.6% for EXR. At the gross margin level — before operating expenses — EXR leads at 76.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is EXR or PLD more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Prologis, Inc. (PLD) is the more undervalued stock at a PEG of 3.94x versus Extra Space Storage Inc.'s 7.10x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Extra Space Storage Inc. (EXR) trades at 31.7x forward P/E versus 42.6x for Prologis, Inc. — 11.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for EXR: -0.7% to $150.00.
07Which pays a better dividend — EXR or PLD?
All stocks in this comparison pay dividends. Extra Space Storage Inc. (EXR) offers the highest yield at 4.3%, versus 2.6% for Prologis, Inc. (PLD).
08Is EXR or PLD better for a retirement portfolio?
For long-horizon retirement investors, Extra Space Storage Inc. (EXR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.56), 4.3% yield, +140.5% 10Y return). Both have compounded well over 10 years (EXR: +140.5%, PLD: +340.5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between EXR and PLD?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: EXR is a mid-cap income-oriented stock; PLD is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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