Crown Castle Inc. (CCI) vs Extra Space Storage Inc. (EXR)
A side-by-side comparison of Crown Castle Inc. and Extra Space Storage Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — CCI vs EXR
growth of $100 · dividends reinvested · last 10yCCI vs EXR: by the numbers
- •CCI is the larger company ($31.93B vs $28.88B market cap).
- •EXR converts more revenue to profit (27.96% vs 25.83% net margin).
- •EXR grew revenue faster over the past five years (18.58% vs -7.20% CAGR).
- •CCI pays the higher dividend yield (5.62% vs 4.71%).
Metrics side by side
Valuation
| Metric | CCI | EXR |
|---|---|---|
| P/E ratio | 29.70 | 30.58 |
| Forward P/E | 37.88 | 29.60 |
| P/S ratio | 7.67 | 8.43 |
| P/B ratio | N/A | 2.18 |
| EV / EBITDA | 20.36 | 19.23 |
| FCF yield | 7.54% | 6.05% |
For REITs like Crown Castle Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Extra Space Storage Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | CCI | EXR |
|---|---|---|
| Gross margin | 63.19% | 23.00% |
| Operating margin | 47.74% | 43.37% |
| Net margin | 25.83% | 27.96% |
| ROE | N/A | 7.22% |
| ROIC | 9.63% | 5.09% |
Dividends
| Metric | CCI | EXR |
|---|---|---|
| Dividend yield | 5.62% | 4.71% |
| Payout ratio | 172.76% | 144.97% |
Crown Castle Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Extra Space Storage Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | CCI | EXR |
|---|---|---|
| Revenue CAGR (5Y) | -7.20% | 18.58% |
| EPS CAGR (5Y) | -15.45% | 4.35% |
| FCF CAGR (5Y) | 7.90% | 16.09% |
| Total return CAGR (5Y) | -12.59% | -2.12% |
Frequently asked
- Which has grown faster, CCI or EXR?
- Over the past five years, EXR grew revenue faster — CCI at a -7.20% CAGR versus EXR at 18.58%.
- Does CCI or EXR pay a bigger dividend?
- CCI yields 5.62% and EXR yields 4.71% based on trailing dividends and the latest price.
- Is CCI or EXR more profitable?
- EXR runs the higher net margin — CCI at 25.83% versus EXR at 27.96%.
- How have CCI and EXR total returns compared?
- Over the past 10 years, CCI delivered 2.11% and EXR delivered 9.65% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Crown Castle & Extra Space Storage appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.