Thursday 15 October 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. 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.

38.74 1.03 +2.73%

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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

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 7.29

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	—	1	—	—	1	—	—	—	—

Insider Ownership 1.58%

Capital & Financial Ratios $m

Market Cap 8,560.00

Revenue 1,136.19

Net Income 332.35

Free Cash Flow 508.04

Net Debt 3,459.43

Current Ratio 0.07

Debt/Equity 1.34

P/E ratio 25.83

Fwd P/E 28.00

P/S ratio 7.53

P/B ratio 3.29

Past 5Y EPS Growth 11.43%

This Y EPS Growth 7.46%

Next Y EPS Growth 1.71%

Next Y revenue growth 0.97%

Next 5Y EPS Growth 3.46%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 18.66%

10-year low 10-year high

P/S against its own 10 years 2.99%

10-year low 10-year high

P/B against its own 10 years 42.16%

10-year low 10-year high

EV/Sales against its own 10 years 3.80%

10-year low 10-year high

EV/FCF against its own 10 years 20.05%

10-year low 10-year high

Dividends

Payout Ratio 1.46

Annual Dividend Rate 2.12

Annual Dividend Yield 5.62%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.12	0.53 0.53 0.53 0.53
2025	2.08	0.52 0.52 0.52 0.52
2024	1.53	0.51 0.51 0.51
2023	1.98	0.49 0.49 0.49 0.51
2022	1.78	0.43 0.43 0.43 0.49
2021	1.45	0.34 0.34 0.34 0.43
2020	1.33	0.33 0.33 0.33 0.34
2019	1.29	0.32 0.32 0.32 0.33
2018	1.22	0.30 0.30 0.30 0.32
2017	1.11	0.27 0.27 0.27 0.30
2016	0.90	0.21 0.21 0.21 0.27

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	8	78	10	17
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	8	78	10	17

	2023	2024	2025	Q'26
Payables	201	230	230	242
ST’ Debt	—	—	—	—
Other	—	—	—	—
	201	230	230	242

Compound Annual Growth %

	10y	5y	3y
Sales	9.71%	10.58%	3.61%
Cash Flow	10.85%	11.63%	0.95%
Earnings	16.63%	15.05%	4.65%
Book Value	5.26%	8.33%	(1.12%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	282	286	—	—	—
’25	273	282	285	283	1,123
’24	261	266	271	268	1,066
’23	257	261	268	265	1,050
’22	239	249	261	261	1,010
’21	189	199	213	222	823
’20	164	164	173	179	679

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	149	144	—	—	—
’25	146	157	168	136	609
’24	150	171	145	165	631
’23	137	162	170	142	611
’22	131	154	162	145	591
’21	98	119	126	106	449
’20	81	108	79	83	351

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	138	135	—	—	—
’25	137	143	154	80	514
’24	120	159	133	132	545
’23	126	148	163	112	549
’22	83	115	132	131	461
’21	90	77	82	13	263
’20	60	25	58	(260)	(117)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.36	0.39	—	—	—
’25	0.39	0.36	0.36	0.34	1.46
’24	0.42	0.41	0.44	0.45	1.72
’23	0.43	0.43	0.45	0.50	1.82
’22	0.17	0.26	0.50	0.36	1.29
’21	0.21	0.24	0.43	0.21	1.09
’20	0.20	0.20	0.24	0.22	0.85

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	23.65	22.83	25.22	27.97	19.61	31.44	36.82	33.17	39.80	34.24	Analyst estimates 2026–2028 Powerpack
	High	33.52	29.79	33.18	36.32	35.77	57.34	57.23	48.93	55.14	44.13
People
People	Employees	2,136	2,508	2,815	3,011	3,111	2,892	2,804	3,040	3,104	3,121
	Revenue/emp, $m	0.24	0.22	0.21	0.21	0.22	0.28	0.36	0.35	0.34	0.36
Income, $m
Income, $m	Revenue	510	559	598	644	679	823	1,010	1,050	1,066	1,123
	Gross margin, %	67.48	67.53	67.08	67.43	67.07	69.35	70.95	71.93	70.20	68.71
	EBT	88	136	165	171	168	231	292	412	392	331
	EBT margin, %	17.33	24.26	27.68	26.52	24.68	28.06	28.97	39.27	36.75	29.50
	Net income	88	136	165	171	168	231	292	412	392	331
	Depreciation	164	148	146	166	159	240	315	205	210	263
Per share, $
Per share, $	Revenue	2.86	3.10	3.24	3.37	3.50	4.04	4.49	4.66	4.71	4.91
	Earnings	0.45	0.74	0.89	0.89	0.85	1.10	1.29	1.82	1.73	1.46
	Cash flow	1.48	1.62	1.65	1.74	1.81	2.20	2.63	2.71	2.79	2.66
	Capex	(2.35)	(0.54)	(1.31)	(0.81)	(2.41)	(0.91)	(0.58)	(0.28)	(0.38)	(0.41)
	Free cash flow	(0.87)	1.08	0.34	0.92	(0.60)	1.29	2.05	2.44	2.41	2.25
	Book value	9.32	9.06	9.30	9.47	9.48	14.18	12.63	12.51	12.82	12.01
	Shares, m	178	181	185	191	194	204	225	225	226	229
Valuation, ×
Valuation, ×	P/E	59.16	38.05	32.24	35.37	39.08	52.21	30.50	26.24	24.63	24.86
	P/S	9.30	9.22	8.86	9.33	9.61	14.10	8.76	10.25	9.10	7.34
	P/B	2.86	3.15	3.09	3.32	3.54	4.01	3.12	3.82	3.34	3.00
	EV/Sales	12.41	12.13	11.77	12.24	13.08	17.91	11.72	13.03	11.82	10.36
	EV/FCF	(40.83)	34.78	113.16	44.73	(76.05)	56.01	25.66	24.92	23.13	22.64
Cash, $m
Cash, $m	Operating cash flow	263	292	304	332	351	449	591	611	631	609
	Capex	(418)	(97)	(242)	(156)	(468)	(186)	(130)	(62)	(86)	(94)
	Free cash flow	(155)	195	62	176	(117)	263	461	549	545	514
Balance, $m
Balance, $m	Working capital	(83)	(134)	(143)	(79)	(153)	(187)	(205)	(193)	(152)	(219)
	Total debt	1,596	1,635	1,747	1,932	2,365	3,146	2,996	2,923	2,987	3,403
	Net debt	1,585	1,626	1,741	1,873	2,358	3,132	2,987	2,915	2,909	3,393
	Shareholders’ equity	1,661	1,635	1,716	1,807	1,841	2,890	2,840	2,821	2,903	2,746
Returns, %
Returns, %	ROA	2.43	3.83	4.49	4.35	3.76	3.95	4.52	6.55	6.20	5.12
	ROIC	2.75	3.75	3.98	3.94	3.83	3.02	3.77	5.42	5.20	4.57
	ROE	4.83	8.15	9.78	9.60	9.08	9.45	10.17	14.51	13.67	11.82

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EGP EastGroup Properties, Inc.	$10.6B	33.9×	34.0×	+9.05% (above 0%: growing)	+16.53% (above 0%: growing)	+447.46% (above 0%: growing)	73.78%	40.76%	Compare
CUBE CubeSmart	$8.6B	25.8×	28.0×	+1.48% (above 0%: growing)	+11.11% (above 0%: growing)	−5.25% (below 0%: shrinking)	66.48%	40.97%
REXR Rexford Industrial Realty, Inc.	$8.4B	— (loss-making)	27.3×	−1.60% (below 0%: shrinking)	n/m	+30.62% (above 0%: growing)	77.10%	41.60%	Compare
FR First Industrial Realty Trust, Inc.	$8.2B	21.5×	26.9×	+8.20% (above 0%: growing)	+38.10% (above 0%: growing)	+183.07% (above 0%: growing)	75.40%	45.08%	Compare
LINE Lineage, Inc.	$7.9B	— (loss-making)	— (loss-making)	+0.81% (above 0%: growing)	n/m	+91.92% (above 0%: growing)	31.23%	3.97%	Compare
TRNO Terreno Realty Corporation	$7.1B	17.4×	32.9×	+11.12% (above 0%: growing)	−40.00% (below 0%: shrinking)	−173.91% (below 0%: shrinking)	76.25%	41.77%	Compare
STAG Stag Industrial, Inc.	$7.0B	27.6×	33.3×	+8.08% (above 0%: growing)	+3.70% (above 0%: growing)	−536.34% (below 0%: shrinking)	79.93%	37.04%	Compare
COLD Americold Realty Trust Inc.	$4.0B	— (loss-making)	— (loss-making)	+1.87% (above 0%: growing)	n/m	+63.81% (above 0%: growing)	32.08%	(43.42%)	Compare
LXP LXP Industrial Trust	$3.6B	61.0×	614×	+0.45% (above 0%: growing)	n/m	−175.97% (below 0%: shrinking)	81.64%	16.08%	Compare
Median of peers	$7.5B	27.6×	33.1×	+4.98%	+10.12%	+47.22%	75.83%	38.90%

All 15 Reit Industrial stocks →

CubeSmart (CUBE) key facts

Concern: Net income was $331.3 million, or $1.46 per share (basic), a net margin of 29.7%.
Strength: CubeSmart’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 5.33% from fiscal 2024.
CubeSmart (CUBE) is a Reit Industrial company in the Real Estate sector, listed on the New York Stock Exchange.
As of October 14, 2026, CUBE traded at $37.71, a market capitalization of $8.6 billion.
At that price the stock trades at 25.8× trailing-twelve-month earnings and 7.5× sales; its P/E is higher than 19% of its own readings over the past ten years.
CubeSmart pays an annual dividend of $2.12 per share, a yield of 5.62%, with a payout ratio of 146.2%.
Return on equity was 11.8% and debt-to-equity 1.34.
Its Piotroski F-score is 4 out of 9 for fiscal 2025.