Comprehensive Stock Comparison
Compare Extra Space Storage Inc. (EXR) vs CubeSmart (CUBE) 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 CUBE's 1.5% |
| Value | CUBE | Lower P/E (28.7x vs 31.7x), PEG 0.92 vs 7.10 |
| Quality / Margins | CUBE | 32.2% net margin vs EXR's 28.9% |
| Stability / Safety | CUBE | Beta 0.53 vs EXR's 0.56 |
| Dividends | CUBE | 4.9% yield, 15-year raise streak, vs EXR's 4.3% |
| Momentum (1Y) | CUBE | +4.7% vs EXR's +3.2% |
| Efficiency (ROA) | CUBE | 5.3% ROA vs EXR's 3.3%, ROIC 6.1% 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.
CubeSmart 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—with additional income from tenant insurance, truck rentals, and packing supplies—with property operations contributing over 90% of total revenue. The company's competitive advantage lies in its national brand recognition, technology-enabled customer experience, and strategic locations in high-demand metropolitan areas.
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
CUBE leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). EXR leads in 1 (Total Returns). 2 tied.
Financial Metrics (TTM)
EXR is the larger business by revenue, generating $3.3B annually — 3.0x CUBE's $1.1B. Profitability is closely matched — net margins range from 32.2% (CUBE) to 28.9% (EXR). On growth, CUBE holds the edge at +5.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EXRExtra Space Stora… | CUBECubeSmart |
|---|---|---|
| RevenueTrailing 12 months | $3.3B | $1.1B |
| EBITDAEarnings before interest/tax | $2.1B | $711M |
| Net IncomeAfter-tax profit | $953M | $357M |
| Free Cash FlowCash after capex | $1.9B | $651M |
| Gross MarginGross profit ÷ Revenue | +67.7% | +63.4% |
| Operating MarginEBIT ÷ Revenue | +43.1% | +41.7% |
| Net MarginNet income ÷ Revenue | +28.9% | +32.2% |
| FCF MarginFCF ÷ Revenue | +57.2% | +58.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -9.0% | +5.2% |
| EPS Growth (YoY)Latest quarter vs prior year | -14.3% | -18.2% |
Valuation Metrics
At 23.9x trailing earnings, CUBE trades at a 36% valuation discount to EXR's 37.5x P/E. Adjusting for growth (PEG ratio), CUBE offers better value at 0.76x vs EXR's 8.40x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | EXRExtra Space Stora… | CUBECubeSmart |
|---|---|---|
| Market CapShares × price | $32.1B | $9.4B |
| Enterprise ValueMkt cap + debt − cash | $44.9B | $12.4B |
| Trailing P/EPrice ÷ TTM EPS | 37.48x | 23.92x |
| Forward P/EPrice ÷ next-FY EPS est. | 31.65x | 28.70x |
| PEG RatioP/E ÷ EPS growth rate | 8.40x | 0.76x |
| EV / EBITDAEnterprise value multiple | 21.39x | 17.95x |
| Price / SalesMarket cap ÷ Revenue | 9.60x | 8.80x |
| Price / BookPrice ÷ Book value/share | 2.15x | 3.16x |
| Price / FCFMarket cap ÷ FCF | 17.17x | 14.87x |
Profitability & Efficiency
CUBE delivers a 12.5% return on equity — every $100 of shareholder capital generates $13 in annual profit, vs $7 for EXR. EXR carries lower financial leverage with a 0.88x debt-to-equity ratio, signaling a more conservative balance sheet compared to CUBE's 1.03x.
| Metric | EXRExtra Space Stora… | CUBECubeSmart |
|---|---|---|
| ROE (TTM)Return on equity | +6.6% | +12.5% |
| ROA (TTM)Return on assets | +3.3% | +5.3% |
| ROICReturn on invested capital | +3.7% | +6.1% |
| ROCEReturn on capital employed | +5.0% | +8.1% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 0.88x | 1.03x |
| Net DebtTotal debt minus cash | $12.9B | $3.0B |
| Cash & Equiv.Liquid assets | $138M | $72M |
| Total DebtShort + long-term debt | $13.0B | $3.1B |
| 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 $13,844 for CUBE. Over the past 12 months, CUBE leads with a +4.7% total return vs EXR's +3.2%. The 3-year compound annual growth rate (CAGR) favors EXR at 1.2% vs CUBE's 0.2% — a key indicator of consistent wealth creation.
| Metric | EXRExtra Space Stora… | CUBECubeSmart |
|---|---|---|
| YTD ReturnYear-to-date | +15.3% | +17.7% |
| 1-Year ReturnPast 12 months | +3.2% | +4.7% |
| 3-Year ReturnCumulative with dividends | +3.5% | +0.6% |
| 5-Year ReturnCumulative with dividends | +46.2% | +38.4% |
| 10-Year ReturnCumulative with dividends | +140.5% | +88.4% |
| CAGR (3Y)Annualised 3-year return | +1.2% | +0.2% |
Risk & Volatility
CUBE is the less volatile stock with a 0.53 beta — it tends to amplify market swings less than EXR's 0.56 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | EXRExtra Space Stora… | CUBECubeSmart |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.56x | 0.53x |
| 52-Week HighHighest price in past year | $160.58 | $44.13 |
| 52-Week LowLowest price in past year | $121.03 | $34.24 |
| % of 52W HighCurrent price vs 52-week peak | +94.1% | +93.2% |
| RSI (14)Momentum oscillator 0–100 | 58.2 | 63.9 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 2.0M |
Analyst Outlook
Wall Street rates EXR as "Hold" and CUBE as "Hold". Consensus price targets imply 1.5% upside for CUBE (target: $42) vs -0.7% for EXR (target: $150). For income investors, CUBE offers the higher dividend yield at 4.94% vs EXR's 4.30%.
| Metric | EXRExtra Space Stora… | CUBECubeSmart |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $150.00 | $41.75 |
| # AnalystsCovering analysts | 28 | 29 |
| Dividend YieldAnnual dividend ÷ price | +4.3% | +4.9% |
| Dividend StreakConsecutive years of raises | 15 | 15 |
| Dividend / ShareAnnual DPS | $6.50 | $2.03 |
| 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 | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | 100 | 134.72 | +34.7% |
| CubeSmart (CUBE) | 100 | 122.4 | +22.4% |
Extra Space Storage… (EXR) returned +46% over 5 years vs CubeSmart (CUBE)'s +38%. A $10,000 investment in EXR 5 years ago would be worth $14,619 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | $795M | $3.3B | +320.1% |
| CubeSmart (CUBE) | $445M | $1.1B | +139.9% |
Extra Space Storage Inc.'s revenue grew from $795M (2015) to $3.3B (2024) — a 17.3% CAGR. CubeSmart's revenue grew from $445M (2015) to $1.1B (2024) — a 10.2% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | 23.8% | 25.6% | +7.4% |
| CubeSmart (CUBE) | 17.5% | 36.7% | +109.9% |
Extra Space Storage Inc.'s net margin went from 24% (2015) to 26% (2024). CubeSmart's net margin went from 17% (2015) to 37% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | 23.3 | 37.1 | +59.2% |
| CubeSmart (CUBE) | 39.1 | 24.9 | -36.3% |
Extra Space Storage Inc. has traded in a 23x–37x P/E range over 8 years; current trailing P/E is ~37x. CubeSmart has traded in a 25x–72x P/E range over 8 years; current trailing P/E is ~24x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Extra Space Storage… (EXR) | 1.56 | 4.03 | +158.3% |
| CubeSmart (CUBE) | 0.42 | 1.72 | +309.5% |
Extra Space Storage Inc.'s EPS grew from $1.56 (2015) to $4.03 (2024) — a 11% CAGR. CubeSmart's EPS grew from $0.42 (2015) to $1.72 (2024) — a 17% CAGR.
Chart 6Free Cash Flow — 5 Years
Extra Space Storage Inc. generated $2B FCF in 2024 (+97% vs 2021). CubeSmart generated $631M FCF in 2024 (+40% vs 2021).
EXR vs CUBE: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is EXR or CUBE a better buy right now?
CubeSmart (CUBE) offers the better valuation at 23.9x trailing P/E (28.7x forward), making it the more compelling value choice. Analysts rate Extra Space Storage Inc. (EXR) a "Hold" — based on 28 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 CUBE?
On trailing P/E, CubeSmart (CUBE) is the cheapest at 23.9x versus Extra Space Storage Inc. at 37.5x. On forward P/E, CubeSmart is actually cheaper at 28.7x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: CubeSmart wins at 0.92x versus Extra Space Storage Inc.'s 7.10x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — EXR or CUBE?
Over the past 5 years, Extra Space Storage Inc. (EXR) delivered a total return of +46.2%, compared to +38.4% for CubeSmart (CUBE). 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 CUBE's +88.4%. 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 CUBE?
By beta (market sensitivity over 5 years), CubeSmart (CUBE) is the lower-risk stock at 0.53β versus Extra Space Storage Inc.'s 0.56β — meaning EXR is approximately 6% more volatile than CUBE relative to the S&P 500. On balance sheet safety, Extra Space Storage Inc. (EXR) carries a lower debt/equity ratio of 88% versus 103% for CubeSmart — giving it more financial flexibility in a downturn.
05Which has better profit margins — EXR or CUBE?
CubeSmart (CUBE) is the more profitable company, earning 36.7% net margin versus 25.6% for Extra Space Storage Inc. — meaning it keeps 36.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CUBE leads at 45.3% 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 CUBE 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, CubeSmart (CUBE) is the more undervalued stock at a PEG of 0.92x versus Extra Space Storage Inc.'s 7.10x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, CubeSmart (CUBE) trades at 28.7x forward P/E versus 31.7x for Extra Space Storage Inc. — 2.9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CUBE: 1.5% to $41.75.
07Which pays a better dividend — EXR or CUBE?
All stocks in this comparison pay dividends. CubeSmart (CUBE) offers the highest yield at 4.9%, versus 4.3% for Extra Space Storage Inc. (EXR).
08Is EXR or CUBE 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%, CUBE: +88.4%), 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 CUBE?
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. 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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