Thursday 15 October 2026
Export CUBE’s income statement to Excel — free account
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%
Follow CUBE
| 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 |
| 11.82% | 13.67% | 14.51% | 10.17% | 9.45% | 9.08% | 9.60% | 9.78% | 8.15% | 4.83% | |
| 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 |
Columns are period end dates