Comprehensive Stock Comparison
Compare Americold Realty Trust, Inc. (COLD) vs Extra Space Storage Inc. (EXR) 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 COLD's -2.4% |
| Quality / Margins | EXR | 28.9% net margin vs COLD's -4.4% |
| Stability / Safety | EXR | Beta 0.56 vs COLD's 0.89, lower leverage |
| Dividends | EXR | 4.3% yield; 15-year raise streak; COLD pays no meaningful dividend |
| Momentum (1Y) | EXR | +3.2% vs COLD's -37.6% |
| Efficiency (ROA) | EXR | 3.3% ROA vs COLD's -1.4%, ROIC 3.7% vs 0.1% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Americold is a real estate investment trust that owns and operates temperature-controlled warehouses — primarily for food products — across North America, Australia, and New Zealand. It generates revenue primarily through rental income from long-term leases with food producers, processors, and retailers, supplemented by value-added services like inventory management. Its competitive advantage lies in its massive scale as the world's largest publicly traded refrigerated warehouse REIT, creating a network effect with strategic locations near key transportation hubs.
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.
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
EXR leads in 5 of 6 categories (Financial Metrics, Profitability & Efficiency). COLD leads in 1 (Valuation Metrics).
Financial Metrics (TTM)
EXR and COLD operate at a comparable scale, with $3.3B and $2.6B in trailing revenue. EXR is the more profitable business, keeping 28.9% of every revenue dollar as net income compared to COLD's -4.4%. On growth, COLD holds the edge at -1.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | COLDAmericold Realty … | EXRExtra Space Stora… |
|---|---|---|
| RevenueTrailing 12 months | $2.6B | $3.3B |
| EBITDAEarnings before interest/tax | $375M | $2.1B |
| Net IncomeAfter-tax profit | -$115M | $953M |
| Free Cash FlowCash after capex | -$205M | $1.9B |
| Gross MarginGross profit ÷ Revenue | +23.9% | +67.7% |
| Operating MarginEBIT ÷ Revenue | +0.3% | +43.1% |
| Net MarginNet income ÷ Revenue | -4.4% | +28.9% |
| FCF MarginFCF ÷ Revenue | -7.9% | +57.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | -1.2% | -9.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -138.5% | -14.3% |
Valuation Metrics
On an enterprise value basis, EXR's 21.4x EV/EBITDA is more attractive than COLD's 21.8x.
| Metric | COLDAmericold Realty … | EXRExtra Space Stora… |
|---|---|---|
| Market CapShares × price | $3.8B | $32.1B |
| Enterprise ValueMkt cap + debt − cash | $8.2B | $44.9B |
| Trailing P/EPrice ÷ TTM EPS | -33.48x | 37.48x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 31.65x |
| PEG RatioP/E ÷ EPS growth rate | — | 8.40x |
| EV / EBITDAEnterprise value multiple | 21.83x | 21.39x |
| Price / SalesMarket cap ÷ Revenue | 1.47x | 9.60x |
| Price / BookPrice ÷ Book value/share | 1.31x | 2.15x |
| Price / FCFMarket cap ÷ FCF | — | 17.17x |
Profitability & Efficiency
EXR delivers a 6.6% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $-4 for COLD. EXR carries lower financial leverage with a 0.88x debt-to-equity ratio, signaling a more conservative balance sheet compared to COLD's 1.54x. On the Piotroski fundamental quality scale (0–9), EXR scores 5/9 vs COLD's 1/9, reflecting solid financial health.
| Metric | COLDAmericold Realty … | EXRExtra Space Stora… |
|---|---|---|
| ROE (TTM)Return on equity | -3.9% | +6.6% |
| ROA (TTM)Return on assets | -1.4% | +3.3% |
| ROICReturn on invested capital | +0.1% | +3.7% |
| ROCEReturn on capital employed | +0.1% | +5.0% |
| Piotroski ScoreFundamental quality 0–9 | 1 | 5 |
| Debt / EquityFinancial leverage | 1.54x | 0.88x |
| Net DebtTotal debt minus cash | $4.4B | $12.9B |
| Cash & Equiv.Liquid assets | $137M | $138M |
| Total DebtShort + long-term debt | $4.5B | $13.0B |
| Interest CoverageEBIT ÷ Interest expense | — | 2.22x |
Total Returns (with DRIP)
A $10,000 investment in EXR five years ago would be worth $14,619 today (with dividends reinvested), compared to $5,057 for COLD. Over the past 12 months, EXR leads with a +3.2% total return vs COLD's -37.6%. The 3-year compound annual growth rate (CAGR) favors EXR at 1.2% vs COLD's -18.2% — a key indicator of consistent wealth creation.
| Metric | COLDAmericold Realty … | EXRExtra Space Stora… |
|---|---|---|
| YTD ReturnYear-to-date | +3.5% | +15.3% |
| 1-Year ReturnPast 12 months | -37.6% | +3.2% |
| 3-Year ReturnCumulative with dividends | -45.3% | +3.5% |
| 5-Year ReturnCumulative with dividends | -49.4% | +46.2% |
| 10-Year ReturnCumulative with dividends | +13.5% | +140.5% |
| CAGR (3Y)Annualised 3-year return | -18.2% | +1.2% |
Risk & Volatility
EXR is the less volatile stock with a 0.56 beta — it tends to amplify market swings less than COLD's 0.89 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. EXR currently trades 94.1% from its 52-week high vs COLD's 58.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | COLDAmericold Realty … | EXRExtra Space Stora… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.89x | 0.56x |
| 52-Week HighHighest price in past year | $23.05 | $160.58 |
| 52-Week LowLowest price in past year | $10.10 | $121.03 |
| % of 52W HighCurrent price vs 52-week peak | +58.1% | +94.1% |
| RSI (14)Momentum oscillator 0–100 | 58.8 | 58.2 |
| Avg Volume (50D)Average daily shares traded | 4.3M | 1.1M |
Analyst Outlook
Wall Street rates COLD as "Buy" and EXR as "Hold". Consensus price targets imply 5.4% upside for COLD (target: $14) vs -0.7% for EXR (target: $150). EXR is the only dividend payer here at 4.30% yield — a key consideration for income-focused portfolios.
| Metric | COLDAmericold Realty … | EXRExtra Space Stora… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $14.11 | $150.00 |
| # AnalystsCovering analysts | 19 | 28 |
| Dividend YieldAnnual dividend ÷ price | — | +4.3% |
| Dividend StreakConsecutive years of raises | 1 | 15 |
| Dividend / ShareAnnual DPS | — | $6.50 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Americold Realty Tr… (COLD) | 100 | 38.65 | -61.4% |
| Extra Space Storage… (EXR) | 100 | 128.27 | +28.3% |
Extra Space Storage… (EXR) returned +46% over 5 years vs Americold Realty Tr… (COLD)'s -49%. A $10,000 investment in EXR 5 years ago would be worth $14,619 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Americold Realty Tr… (COLD) | $1.5B | $2.6B | +74.6% |
| Extra Space Storage… (EXR) | $1.0B | $3.3B | +232.2% |
Americold Realty Trust, Inc.'s revenue grew from $1.5B (2016) to $2.6B (2025) — a 6.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Americold Realty Tr… (COLD) | 0.3% | -4.4% | -1430.1% |
| Extra Space Storage… (EXR) | 36.4% | 25.6% | -29.7% |
Americold Realty Trust, Inc.'s net margin went from 0% (2016) to -4% (2025).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Americold Realty Tr… (COLD) | 82.4 | 311.1 | +277.5% |
| Extra Space Storage… (EXR) | 23.3 | 37.1 | +59.2% |
Americold Realty Trust, Inc. has traded in a 82x–311x P/E range over 3 years; current trailing P/E is ~-33x. Extra Space Storage Inc. has traded in a 23x–37x P/E range over 8 years; current trailing P/E is ~37x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Americold Realty Tr… (COLD) | -0.35 | -0.4 | -14.3% |
| Extra Space Storage… (EXR) | 2.91 | 4.03 | +38.5% |
Americold Realty Trust, Inc.'s EPS grew from $-0.35 (2016) to $-0.40 (2025).
Chart 6Free Cash Flow — 5 Years
Americold Realty Trust, Inc. generated $0M FCF in 2025 (+100% vs 2021). Extra Space Storage Inc. generated $2B FCF in 2024 (+97% vs 2021).
COLD vs EXR: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is COLD or EXR a better buy right now?
Extra Space Storage Inc. (EXR) offers the better valuation at 37.5x trailing P/E (31.7x forward), making it the more compelling value choice. Analysts rate Americold Realty Trust, Inc. (COLD) a "Buy" — based on 19 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 is the better long-term investment — COLD or EXR?
Over the past 5 years, Extra Space Storage Inc. (EXR) delivered a total return of +46.2%, compared to -49.4% for Americold Realty Trust, Inc. (COLD). A $10,000 investment in EXR five years ago would be worth approximately $15K today (assuming dividends reinvested). Over 10 years, the gap is even starker: EXR returned +140.5% versus COLD's +13.5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — COLD or EXR?
By beta (market sensitivity over 5 years), Extra Space Storage Inc. (EXR) is the lower-risk stock at 0.56β versus Americold Realty Trust, Inc.'s 0.89β — meaning COLD is approximately 59% more volatile than EXR relative to the S&P 500. On balance sheet safety, Extra Space Storage Inc. (EXR) carries a lower debt/equity ratio of 88% versus 154% for Americold Realty Trust, Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — COLD or EXR?
Extra Space Storage Inc. (EXR) is the more profitable company, earning 25.6% net margin versus -4.4% for Americold Realty Trust, Inc. — meaning it keeps 25.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EXR leads at 39.6% versus 0.3% for COLD. 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.
05Is COLD or EXR more undervalued right now?
Analyst consensus price targets imply the most upside for COLD: 5.4% to $14.11.
06Which pays a better dividend — COLD or EXR?
In this comparison, EXR (4.3% yield) pays a dividend. COLD does not pay a meaningful dividend and should not be held primarily for income.
07Is COLD or EXR 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%, COLD: +13.5%), 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.
08What are the main differences between COLD and EXR?
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: COLD is a small-cap quality compounder stock; EXR is a mid-cap income-oriented stock. EXR pays a dividend while COLD does not, making them suitable for different income and tax situations. 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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