CubeSmart

CUBE Real Estate Reit Industrial

CubeSmart’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 5.33% from fiscal 2024. In the quarter to June 2026, revenue grew 1.48%, EPS grew 11.1%, free cash flow fell 5.25% and total debt rose 3.63%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten.

38.62 0.91 +2.41%
Market cap
$8.6B
P/E
25.8×
Fwd P/E
28.0×
Dividend yield
5.62%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

An Income Statement, also known as a Profit and Loss Statement, summarizes a company's revenues, expenses, and profits over a specific period. It highlights how revenue is transformed into net income, showcasing operational efficiency. Key components include total revenue, cost of goods sold (COGS), gross profit, operating expenses, and net profit. Businesses use the Income Statement to assess financial performance, make strategic decisions, and ensure profitability. Investors and stakeholders analyze it to gauge the company’s financial health and future growth potential.

Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
Revenue
1,123.11 1,066.23 1,050.33 1,009.62 822.56 679.18 643.92 597.94 558.94 510.04
Revenue Growth
5.33% 1.51% 4.03% 22.74% 21.11% 5.48% 7.69% 6.98% 9.59% 14.74%
Cost of Revenue
351.41 317.75 294.78 293.26 252.10 223.63 209.74 196.87 181.51 165.85
Gross Profit
771.71 748.48 755.55 716.36 570.46 455.54 434.18 401.08 377.44 344.19
SG&A Expenses
64.66 59.66 57.04 54.62 47.81 41.42 38.56 37.71 34.75 32.82
Operating Income
448.90 483.11 497.28 351.13 290.60 257.55 232.07 220.02 195.72 142.95
Non-operating Income/Expense
(117.58) (91.23) (84.84) (58.66) (59.79) (89.94) (61.30) (54.53) (60.10) (54.58)
Non-operating Interest Expenses
119.07 94.89 97.21 97.18 86.62 78.56 75.34 64.45 59.59 52.98
EBT
331.32 391.88 412.44 292.47 230.81 167.61 170.77 165.49 135.61 88.38
Income after Tax
331.32 391.88 412.44 292.47 230.81 167.61 170.77 165.49 135.61 88.38
Dividends (Preferred)
0.00 0.00 — 0.00 0.00 0.00 0.00 — — 7.98
Non-Controlling Interest
(2.46) 0.71 1.68 1.21 7.33 1.99 1.65 1.60 1.32 0.47
Net Income Common
333.78 391.18 410.76 291.26 223.48 165.62 169.12 163.89 134.29 79.92
EPS (Basic)
1.46 1.73 1.82 1.29 1.10 0.85 0.89 0.89 0.74 0.45
EPS (Diluted)
1.46 1.72 1.82 1.29 1.09 0.85 0.88 0.88 0.74 0.45
Shares (Basic, Weighted)
228.73 226.35 225.42 224.93 203.83 194.15 190.87 184.65 180.53 178.25
Shares (Diluted, Weighted)
229.16 227.15 226.24 225.88 205.01 194.94 191.58 185.50 181.45 179.53
Gross Margin
68.71% 70.20% 71.93% 70.95% 69.35% 67.07% 67.43% 67.08% 67.53% 67.48%
EBIT Margin
39.97% 45.31% 47.34% 34.78% 35.33% 37.92% 36.04% 36.80% 35.02% 28.03%
EBT margin
29.50% 36.75% 39.27% 28.97% 28.06% 24.68% 26.52% 27.68% 24.26% 17.33%
Net Profit Margin
29.72% 36.69% 39.11% 28.85% 27.17% 24.39% 26.26% 27.41% 24.03% 15.67%
Free Cash Flow Margin
45.77% 51.12% 52.28% 45.68% 31.98% (17.20%) 27.36% 10.40% 34.87% (30.40%)
EBITDA
712.02 692.88 702.65 665.64 530.82 416.79 398.44 365.68 344.03 307.39
EBIT
448.90 483.11 497.28 351.13 290.60 257.55 232.07 220.02 195.72 142.95
Income from Continuous Operations
331.32 391.88 412.44 292.47 230.81 167.61 170.77 165.49 135.61 88.38
Consolidated Net Income/Loss
331.32 391.89 412.44 292.47 230.81 167.61 170.77 165.49 135.61 88.38
EPS (Basic, from Continuous Ops)
1.45 1.73 1.83 1.30 1.13 0.86 0.89 0.90 0.75 0.50
EPS (Basic, Consolidated)
1.45 1.73 1.83 1.30 1.13 0.86 0.89 0.90 0.75 0.50
EPS (Diluted, from Cont. Ops)
1.45 1.73 1.82 1.29 1.13 0.86 0.89 0.89 0.75 0.49
Shares (Diluted, Average)
229.16 227.15 226.24 225.88 205.01 194.94 191.58 185.50 181.45 179.53
EPS (Diluted, Consolidated)
1.45 1.73 1.82 1.29 1.13 0.86 0.89 0.89 0.75 0.49
EBITDA Margin
63.40% 64.98% 66.90% 65.93% 64.53% 61.37% 61.88% 61.16% 61.55% 60.27%
Operating Cash Flow Margin
54.18% 59.19% 58.18% 58.58% 54.61% 51.69% 51.52% 50.90% 52.23% 51.62%

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In millions of $ except per-share values · columns are period end dates