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
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16
P/E ratio
24.86 24.63 26.24 30.50 52.21 39.08 35.37 32.24 38.05 59.16
Piotroski F-Score
4 5 6 7 6 3 6 5 7 5
P/S ratio
7.34 9.10 10.25 8.76 14.10 9.61 9.33 8.86 9.22 9.30
P/FCF ratio
16.04 17.79 19.61 19.19 44.10 0.00 34.10 85.17 26.43 0.00
P/Operating CF
60.41 58.90 75.66 61.04 109.18 78.43 83.55 75.93 75.49 78.79
P/B ratio
3.00 3.34 3.82 3.12 4.01 3.54 3.32 3.09 3.15 2.86
Price to Tangible BV
3.00 3.34 3.82 3.12 4.01 3.54 3.32 3.09 3.15 2.86
EV/Sales
10.36 11.82 13.03 11.72 17.91 13.08 12.24 11.77 12.13 12.41
EV/EBITDA
16.35 18.20 19.47 17.78 27.75 21.31 19.78 19.25 19.70 20.59
EV/Operating CF
19.13 19.98 22.39 20.01 32.80 25.31 23.76 23.13 23.22 24.04
EV/FCF
22.64 23.13 24.92 25.66 56.01 (76.05) 44.73 113.16 34.78 (40.83)
Quick Ratio
0.04 0.34 0.04 0.04 0.07 0.04 0.42 0.04 0.06 0.12
Current Ratio
0.04 0.34 0.04 0.04 0.07 0.04 0.42 0.04 0.06 0.12
Net Debt/EBITDA
4.76 4.20 4.15 4.49 5.90 5.66 4.70 4.76 4.73 5.16
Debt/Assets
51.22% 46.71% 46.95% 47.36% 48.04% 49.49% 47.94% 46.55% 46.12% 45.92%
Debt/Equity
1.24 1.03 1.04 1.05 1.09 1.28 1.07 1.02 1.00 0.96
Asset Turnover
0.17 0.17 0.17 0.16 0.15 0.15 0.17 0.16 0.16 0.16
Operating CF/Net income
1.82 1.61 1.49 2.03 2.01 2.12 1.96 1.86 2.17 3.29
Capex/Depreciation
(0.36) (0.41) (0.30) (0.41) (0.77) (2.94) (0.94) (1.66) (0.65) (2.54)
Interest Coverage
3.77 5.09 5.12 3.61 3.36 3.28 3.08 3.41 3.28 2.70
ROE
11.82% 13.67% 14.51% 10.17% 9.45% 9.08% 9.60% 9.78% 8.15% 4.83%
ROA
5.12% 6.20% 6.55% 4.52% 3.95% 3.76% 4.35% 4.49% 3.83% 2.43%
ROIC
4.57% 5.20% 5.42% 3.77% 3.02% 3.83% 3.94% 3.98% 3.75% 2.75%
Return on Tangible Assets
5.42% 6.65% 7.13% 4.99% 3.78% 3.80% 4.58% 4.74% 4.10% 2.46%
Average Days of Receivables
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Research and Development Expense of Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Selling, General and Administrative Expense of Revenue
5.76% 5.60% 5.43% 5.41% 5.81% 6.10% 5.99% 6.31% 6.22% 6.44%
Intangible Assets out of Total Assets
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Share Based Compensation of Revenue
1.03% 1.08% 0.96% 0.90% 0.98% 1.05% 1.04% 0.93% 1.00% 0.95%
Graham Net Nets
(0.47) (0.35) (0.32) (0.39) (0.31) (0.45) (0.36) (0.38) (0.37) (0.38)
Graham Number
19.79 22.41 22.64 19.14 18.65 13.55 13.77 13.64 12.36 9.71
Earnings Yield
4.02% 4.06% 3.81% 3.28% 1.92% 2.56% 2.83% 3.10% 2.63% 1.69%
Free Cash Flow Yield
6.23% 5.62% 5.10% 5.21% 2.27% (1.79%) 2.93% 1.17% 3.78% (3.27%)
Revenue per Share
4.91 4.71 4.66 4.49 4.04 3.50 3.37 3.24 3.10 2.86
Operating CF per Share
2.66 2.79 2.71 2.63 2.20 1.81 1.74 1.65 1.62 1.48
Capex per Share
(0.41) (0.38) (0.28) (0.58) (0.91) (2.41) (0.81) (1.31) (0.54) (2.35)
Free Cash Flow per Share
2.25 2.41 2.44 2.05 1.29 (0.60) 0.92 0.34 1.08 (0.87)
Cash per Share
0.04 0.34 0.04 0.04 0.07 0.03 0.31 0.04 0.05 0.06
Shareholders Equity per Share
12.01 12.82 12.51 12.63 14.18 9.48 9.47 9.30 9.06 9.32
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
12.01 12.82 12.51 12.63 14.18 9.48 9.47 9.30 9.06 9.32
Free Cash Flow
514.05 545.10 549.09 461.23 263.03 (116.81) 176.20 62.20 194.91 (155.04)
Working Capital
(219.43) (151.92) (193.20) (205.46) (186.67) (152.91) (79.44) (143.43) (134.19) (82.90)
Capital Expenditures
(94.47) (85.98) (62.04) (130.24) (186.15) (467.84) (155.57) (242.14) (97.01) (418.31)
Net Current Asset Value
(3,887.05) (3,413.84) (3,396.27) (3,476.52) (3,644.60) (2,931.06) (2,163.77) (2,030.04) (1,900.81) (1,802.92)
EV/EBIT
25.93 26.10 27.51 33.71 50.70 34.49 33.96 31.99 34.63 44.28
Capex to Sales
0.08 0.08 0.06 0.13 0.23 0.69 0.24 0.40 0.17 0.82
Price to Operating Income
18.37 20.08 21.65 25.20 39.92 25.34 25.89 24.08 26.32 33.19
Other line items
Depreciation/Fixed assets
0.04 0.03 0.03 0.05 0.04 0.04 0.04 0.04 0.04 0.05
Cash ROIC
8.35% 9.14% 9.55% 7.89% 4.35% (2.77%) 4.64% 1.79% 5.94% (4.74%)
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover
1.53 1.47 1.42 1.42 1.40 1.51 1.46 1.34 1.53 1.86
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Days of Payables
238.55 263.72 249.40 266.83 289.54 259.74 239.95 277.95 288.25 206.36
Days of Inventory on Hand
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Average Payables
229.62 215.50 207.90 207.18 179.56 148.51 143.90 146.63 118.55 89.40
Average Assets
6,518.69 6,309.60 6,275.43 6,436.95 5,663.11 4,403.84 3,891.26 3,649.15 3,510.18 3,289.60
Average Common Equity
2,824.29 2,861.60 2,830.46 2,865.27 2,365.50 1,824.09 1,761.89 1,675.91 1,648.30 1,653.03

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Columns are period end dates