Friday 6 November 2026 Export CUBE’s income statement to Excel — free account

CubeSmart

CubeSmart’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 5.33% from fiscal 2024.

Revenue: +3.12%
EPS: +16.1%
Free cash flow: −5.37%
Total debt: +3.13%

Quarter to September 2026, against a year earlier

45.23 0.14 −0.31%

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Market cap: $10.2B
P/E: 29.8×
Fwd P/E: 27.9×
Dividend yield: 4.68%
F-score: 4/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

CubeSmart (CUBE) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Self-storage segment	1,123	100.00%
Gross margin		68.71%
Operating margin		39.97%
Pre-tax margin		29.50%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022
Self-storage segment	1,123 100.00%	1,066 100.00%	1,050 100.00%	1,010 100.00%
Revenue	1,123	1,066	1,050	1,010

Gross profit by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022
Self-storage segment	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡
	‡	‡	‡	‡
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	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
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	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
AFFO a share	Q3 FY2026	$0.66	$0.65	+1.54%
Consolidated physical occupancy	Q3 FY2026	89.7%	88.6%	—
Consolidated rentable square feet	Q3 FY2026	48.5M	48.2M	+0.62%
Consolidated stores	Q3 FY2026	662.00	660.00	+0.30%
Customers across the portfolio	Q2 FY2026	819.0K	—	—
FFO a share	Q3 FY2026	$0.66	$0.65	+1.54%
Properties	Q2 FY2026	1.5K	—	—
Properties in existing ventures	Q2 FY2026	48.00	—	—
Realized annual rent per occupied square foot	Q3 FY2026	$22.81	$22.99	−0.78%
Same-store average occupancy	Q3 FY2026	90.5%	89.9%	—
Same-store physical occupancy	Q3 FY2026	89.9%	89.0%	—
Same-store portfolio stores	Q3 FY2026	623.00	606.00	+2.81%
Same-store total rentable square feet	Q3 FY2026	45.2M	43.8M	+3.35%
Stores added to third-party management platform	Q3 FY2026	32.00	46.00	−30.43%
Third-party managed rentable square feet	Q3 FY2026	58.2M	56.6M	+2.83%
Third-party managed store count	Q3 FY2026	882.00	863.00	+2.20%
Total owned square feet	Q2 FY2026	48.5M	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025
AFFO a share	‡	‡	‡	‡	‡
Consolidated physical occupancy	‡	‡	‡	‡	‡
Consolidated rentable square feet	‡	‡	‡	‡	‡
Consolidated stores	‡	‡	‡	‡	‡
Customers across the portfolio	‡	‡	‡	‡	‡
FFO a share	‡	‡	‡	‡	‡
Properties	‡	‡	‡	‡	‡
Properties in existing ventures	‡	‡	‡	‡	‡
Realized annual rent per occupied square foot	‡	‡	‡	‡	‡
Same-store average occupancy	‡	‡	‡	‡	‡
Same-store physical occupancy	‡	‡	‡	‡	‡
Same-store portfolio stores	‡	‡	‡	‡	‡
Same-store total rentable square feet	‡	‡	‡	‡	‡
Stores added to third-party management platform	‡	‡	‡	‡	‡
Third-party managed rentable square feet	‡	‡	‡	‡	‡
Third-party managed store count	‡	‡	‡	‡	‡
Total owned square feet	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.