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CubeSmart (CUBE) Financials

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$41.26 -0.01 (-0.02%)
Closing price 05/23/2025 03:59 PM Eastern
Extended Trading
$41.32 +0.05 (+0.13%)
As of 05/23/2025 07:45 PM Eastern
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Annual Income Statements for CubeSmart

Annual Income Statements for CubeSmart

This table shows CubeSmart's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders		 391 411 291 223 166 169 164 134 80 72
Consolidated Net Income / (Loss)		 392 412 292 231 168 171 165 136 88 79
Net Income / (Loss) Continuing Operations		 392 412 292 231 168 171 165 136 88 79
Total Pre-Tax Income 		392 412 292 231 168 171 165 136 88 79
Total Revenue		 971 953 912 769 607 570 544 499 457 398
Net Interest Income / (Expense)		 -95 -97 -97 -87 -79 -75 -64 -60 -53 -46
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 95 97 97 87 79 75 64 60 53 46
Long-Term Debt Interest Expense		 91 93 93 78 76 73 62 57 50 44
Other Interest Expense		 4.07 4.14 3.90 8.17 2.67 2.82 2.31 2.64 2.58 2.32
Total Non-Interest Income		 1,066 1,050 1,010 855 686 645 609 559 510 445
Other Service Charges		 155 138 130 115 98 92 80 70 60 52
Net Realized & Unrealized Capital Gains on Investments		 0.00 0.00 0.00 33 6.71 1.51 11 - - -
Other Non-Interest Income		 911 912 879 708 581 552 518 489 450 392
Total Non-Interest Expense		 583 553 658 532 422 412 378 363 367 337
Other Operating Expenses		 377 352 348 300 265 248 235 216 199 182
Depreciation Expense		 206 201 311 232 157 164 143 146 162 152
Nonoperating Income / (Expense), net		 3.66 12 39 -5.87 -18 13 -0.66 -0.51 -1.60 17
Net Income / (Loss) Attributable to Noncontrolling Interest		 -1.45 -0.86 -0.72 -0.54 0.17 1.65 -0.22 -0.27 -0.47 0.08
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 2.16 2.54 1.93 7.87 1.83 - 1.82 1.59 0.94 0.96
Basic Earnings per Share		 $1.73 $1.82 $1.29 $1.10 $0.85 $0.89 $0.89 $0.74 $0.45 $0.43
Weighted Average Basic Shares Outstanding		 226.35M 225.42M 224.93M 203.83M 194.15M 190.87M 184.65M 180.53M 178.25M 168.64M
Diluted Earnings per Share		 $1.72 $1.82 $1.29 $1.09 $0.85 $0.88 $0.88 $0.74 $0.45 $0.42
Weighted Average Diluted Shares Outstanding		 227.15M 226.24M 225.88M 205.01M 194.94M 191.58M 185.50M 181.45M 179.53M 170.19M
Weighted Average Basic & Diluted Shares Outstanding		 227.88M 224.95M 224.63M 224.00M 199.70M 193.58M 184.10M 181.50M 177.60M 166.80M
Cash Dividends to Common per Share		 $2.05 $1.98 $1.78 $1.45 $1.33 $1.29 $1.22 $1.11 $0.90 $0.69

Quarterly Income Statements for CubeSmart

This table shows CubeSmart's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 89 102 101 94 95 113 103 98 98 82 113
Consolidated Net Income / (Loss)		 89 102 101 94 95 113 103 98 98 82 113
Net Income / (Loss) Continuing Operations		 89 102 101 94 95 113 103 98 98 82 113
Total Pre-Tax Income 		89 102 101 94 95 113 103 98 98 82 113
Total Revenue		 246 244 247 242 237 241 244 236 232 236 237
Net Interest Income / (Expense)		 -27 -23 -24 -24 -24 -24 -24 -25 -25 -25 -25
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 27 23 24 24 24 24 24 25 25 25 25
Long-Term Debt Interest Expense		 26 22 23 23 23 23 23 24 24 24 24
Other Interest Expense		 1.22 1.04 0.99 1.02 1.03 1.03 1.03 1.04 1.04 1.01 0.97
Total Non-Interest Income		 273 268 271 266 261 265 268 261 257 261 261
Other Service Charges		 40 40 40 39 36 35 35 35 33 33 35
Other Non-Interest Income		 233 228 231 227 225 230 232 226 224 228 227
Total Non-Interest Expense		 158 144 147 149 143 136 142 140 136 155 170
Other Operating Expenses		 99 91 96 98 93 85 92 89 86 85 90
Depreciation Expense		 59 53 51 51 51 51 50 50 50 69 80
Nonoperating Income / (Expense), net		 1.19 1.23 1.14 0.51 0.78 7.50 1.02 1.57 2.28 0.66 47
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.91 -0.54 -0.40 -0.30 -0.21 -0.20 -0.21 -0.21 -0.24 -0.22 -0.18
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 0.45 0.54 0.55 0.52 0.54 0.67 0.64 0.62 0.61 0.53 0.73
Basic Earnings per Share		 $0.39 $0.44 $0.45 $0.42 $0.42 $0.50 $0.46 $0.43 $0.43 $0.36 $0.50
Weighted Average Basic Shares Outstanding		 228.66M 226.35M 226.17M 225.89M 225.77M 225.42M 225.47M 225.39M 225.29M 224.93M 225.02M
Diluted Earnings per Share		 $0.39 $0.45 $0.44 $0.41 $0.42 $0.51 $0.45 $0.43 $0.43 $0.36 $0.50
Weighted Average Diluted Shares Outstanding		 229.17M 227.15M 227.15M 226.62M 226.58M 226.24M 226.21M 226.28M 226.18M 225.88M 225.97M
Weighted Average Basic & Diluted Shares Outstanding		 227.95M 227.88M 226.15M 225.20M 224.97M 224.95M 224.86M 224.81M 224.68M 224.63M 224.57M
Cash Dividends to Common per Share		 $0.52 - $0.51 $0.51 $0.51 - $0.49 $0.49 $0.49 - $0.43

Annual Cash Flow Statements for CubeSmart

This table details how cash moves in and out of CubeSmart's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents		 69 -0.71 -4.39 7.09 -52 52 -2.68 -1.71 -77 60
Net Cash From Operating Activities		 631 611 591 449 351 332 304 292 263 217
Net Cash From Continuing Operating Activities		 631 611 591 449 351 332 304 292 263 217
Net Income / (Loss) Continuing Operations		 392 412 292 231 168 171 165 136 88 79
Consolidated Net Income / (Loss)		 392 412 292 231 168 171 165 136 88 79
Depreciation Expense		 210 205 315 240 159 166 146 148 164 154
Non-Cash Adjustments to Reconcile Net Income		 13 3.71 -41 -31 18 -6.65 -4.87 6.41 6.37 -15
Changes in Operating Assets and Liabilities, net		 16 -10 25 9.55 6.16 1.29 -1.94 1.57 4.08 -0.73
Net Cash From Investing Activities		 -174 -94 -49 -1,853 -511 -376 -322 -150 -559 -375
Net Cash From Continuing Investing Activities		 -174 -94 -49 -1,853 -511 -376 -322 -150 -559 -375
Purchase of Property, Leasehold Improvements and Equipment		 -44 -40 -41 -35 -50 -38 -28 -27 -30 -25
Purchase of Investment Securities		 -135 -70 -113 -1,900 -473 -221 -301 -138 -526 -370
Sale and/or Maturity of Investments		 5.45 16 106 111 19 11 25 16 8.11 20
Other Investing Activities, net		 -1.30 -0.02 -0.02 -28 -7.02 -128 -19 -0.30 -12 0.07
Net Cash From Financing Activities		 -388 -518 -547 1,411 108 96 15 -143 219 217
Net Cash From Continuing Financing Activities		 -388 -518 -547 1,411 108 96 15 -143 219 217
Issuance of Debt		 697 794 634 1,950 875 1,556 680 732 1,257 981
Issuance of Common Equity		 118 -0.28 4.88 966 121 196 132 30 136 234
Repayment of Debt		 -747 -870 -789 -1,234 -629 -1,376 -576 -700 -955 -899
Payment of Dividends		 -462 -442 -387 -274 -256 -244 -221 -195 -156 -113
Other Financing Activities, Net		 6.27 -0.07 -9.55 3.08 -2.47 -36 0.91 -9.93 15 15
Cash Interest Paid		 93 95 92 79 81 69 67 63 53 46

Quarterly Cash Flow Statements for CubeSmart

This table details how cash moves in and out of CubeSmart's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 -62 32 38 -0.34 -0.60 -1.68 -1.25 2.36 -0.14 0.72 0.10
Net Cash From Operating Activities		 146 165 145 171 150 142 170 162 137 145 162
Net Cash From Continuing Operating Activities		 146 165 145 171 150 142 170 162 137 145 162
Net Income / (Loss) Continuing Operations		 89 102 101 94 95 113 103 98 98 82 113
Consolidated Net Income / (Loss)		 89 102 101 94 95 113 103 98 98 82 113
Depreciation Expense		 60 54 52 52 52 52 51 51 51 70 81
Non-Cash Adjustments to Reconcile Net Income		 3.85 3.28 3.60 3.41 3.02 -2.29 2.61 2.49 0.91 0.66 -45
Changes in Operating Assets and Liabilities, net		 -6.65 5.71 -11 21 0.53 -20 13 10 -14 -8.30 13
Net Cash From Investing Activities		 -467 -101 -18 -20 -34 -35 -11 -22 -26 -18 19
Net Cash From Continuing Investing Activities		 -467 -101 -18 -20 -34 -35 -11 -22 -26 -18 19
Purchase of Property, Leasehold Improvements and Equipment		 -9.37 -10 -12 -11 -9.66 -8.21 -6.37 -14 -11 -14 -9.88
Purchase of Investment Securities		 -8.02 -90 -7.41 -10 -26 -36 -6.51 -9.65 -18 -6.91 -25
Sale and/or Maturity of Investments		 1.19 0.78 1.19 1.50 1.99 8.65 1.80 1.89 3.66 3.11 53
Other Investing Activities, net		 -451 -0.99 -0.01 -0.01 -0.31 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
Net Cash From Financing Activities		 259 -31 -89 -151 -117 -109 -160 -138 -111 -127 -181
Net Cash From Continuing Financing Activities		 259 -31 -89 -151 -117 -109 -160 -138 -111 -127 -181
Issuance of Debt		 578 85 202 197 214 180 159 235 220 133 205
Issuance of Common Equity		 -0.17 86 33 -0.04 -0.01 -0.05 -0.08 -0.06 -0.09 -0.01 5.05
Repayment of Debt		 -195 -85 -213 -236 -214 -178 -208 -264 -220 -163 -289
Payment of Dividends		 -119 -116 -115 -115 -115 -111 -111 -111 -110 -97 -97
Other Financing Activities, Net		 -3.78 -0.69 4.43 3.65 -1.12 -0.44 -0.82 1.71 -0.53 -0.35 -5.54
Cash Interest Paid		 32 15 31 15 32 15 32 16 32 17 34

Annual Balance Sheets for CubeSmart

This table presents CubeSmart's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets		 6,394 6,225 6,326 6,548 4,778 4,030 3,753 3,545 3,475 3,104
Cash and Due from Banks		 72 6.53 6.06 11 3.59 55 3.76 5.27 2.97 63
Restricted Cash		 6.10 1.69 2.86 2.18 2.64 3.58 2.72 3.89 7.89 25
Trading Account Securities		 92 98 106 120 92 91 96 91 99 97
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 6,038 5,951 6,048 6,098 4,506 3,774 3,601 3,409 3,327 2,873
Intangible Assets		 2.73 4.00 5.18 2.32 - - - - - -
Other Assets		 184 163 158 315 171 101 49 35 37 44
Total Liabilities & Shareholders' Equity		 6,394 6,225 6,326 6,548 4,778 4,030 3,753 3,545 3,475 3,104
Total Liabilities		 3,440 3,344 3,428 3,550 2,688 2,160 1,981 1,856 1,759 1,393
Short-Term Debt		 0.00 18 61 210 118 0.00 196 82 43 -
Other Short-Term Payables		 120 116 326 - 227 203 211 199 143 124
Long-Term Debt		 2,987 2,905 2,935 2,936 2,247 1,932 1,552 1,553 1,552 1,252
Other Long-Term Liabilities		 334 306 106 403 95 25 23 22 20 18
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Redeemable Noncontrolling Interest		 51 60 57 108 249 62 56 54 54 66
Total Equity & Noncontrolling Interests		 2,903 2,821 2,840 2,890 1,841 1,807 1,716 1,635 1,661 1,645
Total Preferred & Common Equity		 2,872 2,799 2,826 2,872 1,832 1,799 1,710 1,629 1,655 1,643
Total Common Equity		 2,872 2,799 2,826 2,872 1,832 1,799 1,710 1,629 1,655 1,643
Common Stock		 4,288 4,144 4,128 4,091 2,808 2,677 2,503 2,358 2,316 2,233
Retained Earnings		 -1,416 -1,345 -1,301 -1,218 -975 -877 -792 -729 -659 -585
Accumulated Other Comprehensive Income / (Loss)		 -0.33 -0.41 -0.49 -0.57 -0.63 -0.73 -1.03 0.00 -1.85 -4.98
Noncontrolling Interest		 31 22 14 19 8.63 7.99 6.77 6.24 5.86 1.53

Quarterly Balance Sheets for CubeSmart

This table presents CubeSmart's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 6,740 6,192 6,184 6,209 6,233 6,281 6,291 6,371
Cash and Due from Banks		 11 44 5.66 5.59 8.03 9.22 5.51 5.18
Restricted Cash		 5.00 1.85 1.61 2.03 1.87 1.93 3.27 3.02
Trading Account Securities		 76 92 94 96 100 101 104 108
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 6,446 5,878 5,912 5,939 5,957 5,990 6,014 6,077
Intangible Assets		 2.42 3.05 3.36 3.68 4.28 4.59 4.91 1.72
Other Assets		 200 174 168 163 162 174 160 176
Total Liabilities & Shareholders' Equity		 6,740 6,192 6,184 6,209 6,233 6,281 6,291 6,371
Total Liabilities		 3,817 3,320 3,337 3,347 3,360 3,402 3,404 3,447
Short-Term Debt		 382 0.00 11 18 15 63 61 86
Other Short-Term Payables		 340 116 346 319 333 111 111 -
Long-Term Debt		 2,987 2,874 2,874 2,905 2,905 2,904 2,935 2,935
Other Long-Term Liabilities		 108 329 106 105 106 322 295 424
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 49 66 56 58 52 63 66 59
Total Equity & Noncontrolling Interests		 2,874 2,806 2,791 2,804 2,821 2,816 2,822 2,866
Total Preferred & Common Equity		 2,844 2,786 2,770 2,782 2,807 2,801 2,808 2,852
Total Common Equity		 2,844 2,786 2,770 2,782 2,807 2,801 2,808 2,852
Common Stock		 4,290 4,198 4,157 4,147 4,140 4,135 4,131 4,124
Retained Earnings		 -1,446 -1,412 -1,386 -1,365 -1,332 -1,333 -1,323 -1,272
Accumulated Other Comprehensive Income / (Loss)		 -0.31 -0.35 -0.37 -0.39 -0.43 -0.45 -0.47 -0.51
Noncontrolling Interest		 30 21 21 22 14 14 14 14

Annual Metrics And Ratios for CubeSmart

This table displays calculated financial ratios and metrics derived from CubeSmart's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 1.91% 4.46% 18.71% 26.56% 6.53% 4.78% 8.96% 9.25% 14.71% 21.49%
EBITDA Growth		 -1.23% 6.51% 19.20% 38.26% 6.27% 4.10% 9.62% 11.80% 17.82% 33.66%
EBIT Growth		 -2.96% 57.54% 7.30% 27.46% 17.35% -4.76% 22.05% 51.29% 45.53% 89.94%
NOPAT Growth		 -2.96% 57.54% 7.30% 27.46% 17.35% -4.76% 22.05% 51.29% 45.53% 89.94%
Net Income Growth		 -4.98% 41.02% 26.71% 37.71% -1.85% 3.19% 22.03% 53.45% 12.21% 194.94%
EPS Growth		 -5.49% 41.09% 18.35% 28.24% -3.41% 0.00% 18.92% 64.44% 7.14% 200.00%
Operating Cash Flow Growth		 3.26% 3.33% 31.68% 27.96% 5.81% 9.01% 4.26% 10.88% 21.17% 30.86%
Free Cash Flow Firm Growth		 -48.74% -2.72% 134.71% -210.34% -278.70% -333.13% -123.23% 147.45% -13.85% 38.94%
Invested Capital Growth		 2.36% -1.53% -4.07% 37.92% 17.20% 8.01% 5.86% 0.40% 11.78% 10.82%
Revenue Q/Q Growth		 0.29% 0.53% 4.19% 4.65% 6.33% -6.07% 7.57% 1.93% 3.51% 3.75%
EBITDA Q/Q Growth		 -0.46% 0.88% 4.30% 6.55% 4.61% -6.39% 10.93% 2.83% 4.16% 7.03%
EBIT Q/Q Growth		 -1.26% 6.42% 11.57% -2.41% 11.28% -13.77% 19.82% 9.97% 9.57% 28.36%
NOPAT Q/Q Growth		 -1.26% 6.42% 11.57% -2.41% 11.28% -13.77% 19.82% 9.97% 9.57% 28.36%
Net Income Q/Q Growth		 -2.79% 8.12% 13.86% 1.59% 0.27% -3.46% 5.60% 10.43% -10.79% 69.16%
EPS Q/Q Growth		 -3.37% 8.98% 13.16% 0.00% 0.00% -4.35% 4.76% 12.12% -15.09% 75.00%
Operating Cash Flow Q/Q Growth		 3.68% -0.44% 7.01% 5.41% 3.32% 0.65% 0.50% 2.83% 2.11% 3.66%
Free Cash Flow Firm Q/Q Growth		 -42.75% -7.24% 140.92% -214.80% -589.13% -2.33% -218.89% -37.56% 47.02% 24.43%
Invested Capital Q/Q Growth		 3.37% 0.18% -0.87% 36.96% 17.79% 2.43% 3.31% 0.99% -1.59% 6.02%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 61.56% 63.52% 62.30% 62.04% 56.80% 56.94% 57.31% 56.96% 55.66% 54.19%
EBIT Margin		 39.97% 41.97% 27.83% 30.79% 30.58% 27.76% 30.54% 27.26% 19.69% 15.52%
Profit (Net Income) Margin		 40.34% 43.27% 32.05% 30.03% 27.60% 29.96% 30.42% 27.16% 19.34% 19.77%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.94% 103.09% 115.17% 97.52% 90.26% 107.92% 99.60% 99.62% 98.22% 127.38%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 6.61% 6.84% 4.22% 4.47% 4.50% 4.32% 4.86% 4.10% 2.87% 2.19%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.74% 7.26% 5.47% 4.25% 3.66% 5.00% 4.82% 4.07% 2.76% 3.59%
Return on Net Nonoperating Assets (RNNOA)		 6.82% 7.43% 5.70% 4.61% 3.97% 5.06% 4.71% 3.86% 2.29% 2.71%
Return on Equity (ROE)		 13.43% 14.27% 9.92% 9.07% 8.47% 9.38% 9.56% 7.96% 5.16% 4.91%
Cash Return on Invested Capital (CROIC)		 4.28% 8.39% 8.38% -27.41% -11.34% -3.38% -0.83% 3.70% -8.25% -8.07%
Operating Return on Assets (OROA)		 6.15% 6.38% 3.95% 4.18% 4.22% 4.07% 4.55% 3.88% 2.74% 2.10%
Return on Assets (ROA)		 6.21% 6.57% 4.54% 4.08% 3.81% 4.39% 4.54% 3.86% 2.69% 2.67%
Return on Common Equity (ROCE)		 13.06% 13.90% 9.59% 8.39% 7.76% 9.04% 9.22% 7.68% 4.97% 4.72%
Return on Equity Simple (ROE_SIMPLE)		 13.65% 14.74% 10.35% 8.04% 9.15% 9.49% 9.68% 8.32% 5.34% 4.79%
Net Operating Profit after Tax (NOPAT)		 388 400 254 237 186 158 166 136 90 62
NOPAT Margin		 39.97% 41.97% 27.83% 30.79% 30.58% 27.76% 30.54% 27.26% 19.69% 15.52%
Net Nonoperating Expense Percent (NNEP)		 -0.12% -0.42% -1.25% 0.21% 0.84% -0.68% 0.04% 0.03% 0.11% -1.40%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 60.03% 58.03% 72.17% 69.21% 69.42% 72.24% 69.46% 72.74% 80.31% 84.48%
Earnings before Interest and Taxes (EBIT)		 388 400 254 237 186 158 166 136 90 62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 598 605 568 477 345 325 312 284 254 216
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 3.33 3.56 2.92 3.61 3.12 2.82 2.50 2.46 2.14 2.29
Price to Tangible Book Value (P/TBV)		 3.34 3.57 2.93 3.62 3.12 2.82 2.50 2.46 2.14 2.29
Price to Revenue (P/Rev)		 9.86 10.46 9.06 13.50 9.40 8.89 7.85 8.03 7.75 9.44
Price to Earnings (P/E)		 24.47 24.27 28.37 46.42 34.46 29.96 26.07 29.87 44.32 52.48
Dividend Yield		 4.82% 4.47% 4.84% 2.84% 4.55% 4.93% 5.32% 5.00% 4.57% 3.16%
Earnings Yield		 4.09% 4.12% 3.52% 2.15% 2.90% 3.34% 3.84% 3.35% 2.26% 1.91%
Enterprise Value to Invested Capital (EV/IC)		 2.12 2.23 1.92 2.22 1.87 1.84 1.73 1.71 1.57 1.69
Enterprise Value to Revenue (EV/Rev)		 12.93 13.60 12.41 17.74 13.71 12.30 11.17 11.41 11.35 12.54
Enterprise Value to EBITDA (EV/EBITDA)		 21.01 21.42 19.92 28.59 24.13 21.59 19.49 20.03 20.39 23.13
Enterprise Value to EBIT (EV/EBIT)		 32.36 32.41 44.58 57.60 44.83 44.30 36.57 41.86 57.65 80.78
Enterprise Value to NOPAT (EV/NOPAT)		 32.36 32.41 44.58 57.60 44.83 44.30 36.57 41.86 57.65 80.78
Enterprise Value to Operating Cash Flow (EV/OCF)		 19.91 21.22 19.14 30.35 23.71 21.13 19.97 19.52 19.70 22.99
Enterprise Value to Free Cash Flow (EV/FCFF)		 49.98 26.44 22.46 0.00 0.00 0.00 0.00 46.39 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.01 1.01 1.03 1.05 1.13 1.03 0.99 0.97 0.93 0.73
Long-Term Debt to Equity		 1.01 1.01 1.01 0.98 1.07 1.03 0.88 0.92 0.90 0.73
Financial Leverage		 1.01 1.02 1.04 1.08 1.09 1.01 0.98 0.95 0.83 0.76
Leverage Ratio		 2.16 2.17 2.18 2.23 2.22 2.14 2.11 2.06 1.92 1.83
Compound Leverage Factor		 2.18 2.24 2.51 2.17 2.01 2.31 2.10 2.05 1.89 2.34
Debt to Total Capital		 50.28% 50.36% 50.83% 51.20% 53.08% 50.82% 49.64% 49.18% 48.19% 42.25%
Short-Term Debt to Total Capital		 0.00% 0.31% 1.03% 3.42% 2.64% 0.00% 5.56% 2.46% 1.31% 0.00%
Long-Term Debt to Total Capital		 50.28% 50.05% 49.80% 47.78% 50.44% 50.82% 44.09% 46.72% 46.88% 42.25%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.38% 1.41% 1.21% 2.06% 5.79% 1.84% 1.78% 1.82% 1.82% 2.28%
Common Equity to Total Capital		 48.34% 48.23% 47.95% 46.74% 41.13% 47.34% 48.58% 49.00% 49.99% 55.47%
Debt to EBITDA		 4.99 4.83 5.27 6.60 6.86 5.95 5.60 5.75 6.27 5.80
Net Debt to EBITDA		 4.86 4.81 5.26 6.57 6.84 5.77 5.58 5.72 6.23 5.39
Long-Term Debt to EBITDA		 4.99 4.80 5.16 6.16 6.51 5.95 4.98 5.46 6.10 5.80
Debt to NOPAT		 7.69 7.31 11.80 13.29 12.73 12.21 10.52 12.01 17.74 20.24
Net Debt to NOPAT		 7.49 7.29 11.76 13.23 12.70 11.84 10.48 11.94 17.61 18.83
Long-Term Debt to NOPAT		 7.69 7.26 11.56 12.40 12.10 12.21 9.34 11.41 17.25 20.24
Noncontrolling Interest Sharing Ratio		 2.81% 2.66% 3.37% 7.56% 8.29% 3.64% 3.56% 3.55% 3.73% 3.71%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 251 490 504 -1,453 -468 -124 -29 123 -259 -227
Operating Cash Flow to CapEx		 1,448.25% 1,533.48% 1,434.45% 1,297.92% 704.08% 883.09% 1,101.63% 1,066.24% 887.28% 879.82%
Free Cash Flow to Firm to Interest Expense		 2.65 5.05 5.19 -16.77 -5.96 -1.64 -0.44 2.06 -4.89 -4.94
Operating Cash Flow to Interest Expense		 6.65 6.29 6.09 5.19 4.47 4.40 4.72 4.90 4.97 4.72
Operating Cash Flow Less CapEx to Interest Expense		 6.19 5.88 5.66 4.79 3.83 3.90 4.29 4.44 4.41 4.18
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.15 0.15 0.14 0.14 0.14 0.15 0.15 0.14 0.14 0.14
Fixed Asset Turnover		 0.16 0.16 0.15 0.15 0.15 0.15 0.16 0.15 0.15 0.14
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 5,940 5,804 5,894 6,144 4,455 3,801 3,519 3,325 3,311 2,963
Invested Capital Turnover		 0.17 0.16 0.15 0.15 0.15 0.16 0.16 0.15 0.15 0.14
Increase / (Decrease) in Invested Capital		 137 -90 -250 1,689 654 282 195 13 349 289
Enterprise Value (EV)		 12,564 12,966 11,322 13,633 8,324 7,010 6,076 5,698 5,187 4,995
Market Capitalization		 9,573 9,970 8,263 10,374 5,708 5,066 4,273 4,012 3,542 3,763
Book Value per Share		 $12.70 $12.45 $12.58 $14.13 $9.38 $9.30 $9.18 $9.01 $9.19 $9.52
Tangible Book Value per Share		 $12.69 $12.43 $12.56 $14.11 $9.38 $9.30 $9.18 $9.01 $9.19 $9.52
Total Capital		 5,940 5,804 5,894 6,144 4,455 3,801 3,519 3,325 3,311 2,963
Total Debt		 2,987 2,923 2,996 3,146 2,365 1,932 1,747 1,635 1,596 1,252
Total Long-Term Debt		 2,987 2,905 2,935 2,936 2,247 1,932 1,552 1,553 1,552 1,252
Net Debt		 2,909 2,915 2,987 3,132 2,358 1,873 1,741 1,626 1,585 1,164
Capital Expenditures (CapEx)		 44 40 41 35 50 38 28 27 30 25
Net Nonoperating Expense (NNE)		 -3.66 -12 -39 5.87 18 -13 0.66 0.51 1.60 -17
Net Nonoperating Obligations (NNO)		 2,987 2,923 2,996 3,146 2,365 1,932 1,747 1,635 1,596 1,252
Total Depreciation and Amortization (D&A)		 210 205 315 240 159 166 146 148 164 154
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.73 $1.82 $1.29 $1.10 $0.85 $0.89 $0.89 $0.74 $0.45 $0.43
Adjusted Weighted Average Basic Shares Outstanding		 226.35M 225.42M 224.93M 203.83M 194.15M 190.87M 184.65M 180.53M 178.25M 168.64M
Adjusted Diluted Earnings per Share		 $1.72 $1.82 $1.29 $1.09 $0.85 $0.88 $0.88 $0.74 $0.45 $0.42
Adjusted Weighted Average Diluted Shares Outstanding		 227.15M 226.24M 225.88M 205.01M 194.94M 191.58M 185.50M 181.45M 179.53M 170.19M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 227.88M 224.95M 224.63M 224.00M 199.70M 193.58M 187.16M 182.28M 180.17M 175.73M
Normalized Net Operating Profit after Tax (NOPAT)		 272 280 178 166 130 111 116 96 68 46
Normalized NOPAT Margin		 27.98% 29.38% 19.48% 21.55% 21.40% 19.43% 21.38% 19.26% 14.78% 11.44%
Pre Tax Income Margin		 40.34% 43.27% 32.05% 30.03% 27.60% 29.96% 30.42% 27.16% 19.34% 19.77%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 4.09 4.12 2.61 2.73 2.36 2.10 2.58 2.28 1.70 1.34
NOPAT to Interest Expense		 4.09 4.12 2.61 2.73 2.36 2.10 2.58 2.28 1.70 1.34
EBIT Less CapEx to Interest Expense		 3.63 3.71 2.19 2.33 1.73 1.60 2.15 1.82 1.14 0.81
NOPAT Less CapEx to Interest Expense		 3.63 3.71 2.19 2.33 1.73 1.60 2.15 1.82 1.14 0.81
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 117.83% 107.22% 132.36% 118.64% 152.89% 142.80% 133.84% 143.80% 176.32% 143.61%
Augmented Payout Ratio		 117.83% 107.22% 132.36% 118.64% 152.89% 142.80% 133.84% 143.80% 176.32% 143.61%

Quarterly Metrics And Ratios for CubeSmart

This table displays calculated financial ratios and metrics derived from CubeSmart's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 3.48% 1.17% 1.44% 2.63% 2.44% 2.14% 2.98% 5.15% 7.92% 18.38% 6.94%
EBITDA Growth		 1.45% -1.77% -0.69% -1.62% -0.82% 3.47% 3.82% 7.01% 12.54% 18.24% 0.92%
EBIT Growth		 -6.93% -4.70% -2.20% -3.15% -1.66% 29.60% 52.55% 65.59% 102.96% 47.72% -25.02%
NOPAT Growth		 -6.93% -4.70% -2.20% -3.15% -1.66% 29.60% 52.55% 65.59% 102.96% 47.72% -25.02%
Net Income Growth		 -6.44% -9.94% -2.06% -4.17% -3.15% 37.68% -9.14% 67.74% 155.95% 76.47% 25.25%
EPS Growth		 -7.14% -11.76% -2.22% -4.65% -2.33% 41.67% -10.00% 65.38% 152.94% 71.43% 16.28%
Operating Cash Flow Growth		 -2.55% 15.72% -14.35% 5.23% 9.83% -1.84% 4.66% 5.73% 4.57% 36.45% 29.15%
Free Cash Flow Firm Growth		 -317.94% -118.45% -42.81% -18.90% -29.37% -40.91% 118.30% 116.86% 117.11% 120.30% -126.54%
Invested Capital Growth		 8.77% 2.36% -0.79% -1.96% -1.67% -1.53% -2.57% -2.67% -2.92% -4.07% 32.53%
Revenue Q/Q Growth		 0.58% -1.15% 1.95% 2.09% -1.66% -0.89% 3.14% 1.91% -1.96% -0.07% 5.31%
EBITDA Q/Q Growth		 -4.21% 1.60% 4.31% -0.07% -7.25% 2.72% 3.34% 0.73% -3.24% 3.06% 6.52%
EBIT Q/Q Growth		 -13.02% 0.86% 6.55% -0.43% -10.94% 3.51% 5.52% 1.10% 17.37% 21.85% 14.54%
NOPAT Q/Q Growth		 -13.02% 0.86% 6.55% -0.43% -10.94% 3.51% 5.52% 1.10% 17.37% 21.85% 14.54%
Net Income Q/Q Growth		 -12.90% 0.93% 7.18% -0.71% -16.16% 9.76% 4.87% 0.35% 19.19% -27.56% 93.60%
EPS Q/Q Growth		 -13.33% 2.27% 7.32% -2.38% -17.65% 13.33% 4.65% 0.00% 19.44% -28.00% 92.31%
Operating Cash Flow Q/Q Growth		 -11.14% 13.25% -14.90% 13.79% 2.84% -16.18% 4.55% 18.78% -5.70% -10.62% 5.62%
Free Cash Flow Firm Q/Q Growth		 -1,060.31% -124.82% -30.09% 8.27% -1.78% -23.07% -0.87% -5.70% -17.82% 123.82% 8.67%
Invested Capital Q/Q Growth		 5.92% 3.37% 0.26% -0.92% -0.32% 0.18% -0.92% -0.63% -0.17% -0.87% -1.02%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 60.21% 63.22% 61.50% 60.11% 61.41% 65.11% 62.82% 62.70% 63.43% 64.27% 62.32%
EBIT Margin		 35.63% 41.20% 40.38% 38.64% 39.62% 43.75% 41.89% 40.94% 41.27% 34.48% 28.28%
Profit (Net Income) Margin		 36.12% 41.71% 40.85% 38.85% 39.95% 46.85% 42.31% 41.61% 42.25% 34.76% 47.95%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 101.36% 101.22% 101.14% 100.55% 100.83% 107.10% 101.00% 101.62% 102.38% 100.81% 169.57%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 5.78% 6.82% 6.78% 6.44% 6.51% 7.13% 6.77% 6.50% 6.42% 5.23% 4.75%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.82% 6.86% 6.82% 6.46% 6.54% 7.38% 6.80% 6.55% 6.50% 5.25% 6.53%
Return on Net Nonoperating Assets (RNNOA)		 6.33% 6.95% 6.88% 6.60% 6.73% 7.56% 6.97% 6.88% 6.82% 5.47% 6.55%
Return on Equity (ROE)		 12.11% 13.76% 13.65% 13.04% 13.24% 14.69% 13.73% 13.38% 13.25% 10.69% 11.29%
Cash Return on Invested Capital (CROIC)		 -2.08% 4.28% 7.61% 8.81% 8.52% 8.39% 9.01% 8.46% 8.03% 8.38% -23.62%
Operating Return on Assets (OROA)		 5.39% 6.34% 6.30% 5.98% 6.08% 6.64% 6.30% 6.06% 6.02% 4.89% 4.42%
Return on Assets (ROA)		 5.46% 6.42% 6.37% 6.02% 6.13% 7.12% 6.36% 6.16% 6.16% 4.93% 7.49%
Return on Common Equity (ROCE)		 11.78% 13.37% 13.29% 12.69% 12.87% 14.30% 13.41% 13.02% 12.85% 10.33% 10.36%
Return on Equity Simple (ROE_SIMPLE)		 13.56% 0.00% 14.47% 14.63% 14.71% 0.00% 13.59% 13.99% 12.54% 0.00% 9.01%
Net Operating Profit after Tax (NOPAT)		 88 101 100 94 94 106 102 97 96 82 67
NOPAT Margin		 35.63% 41.20% 40.38% 38.64% 39.62% 43.75% 41.89% 40.94% 41.27% 34.48% 28.28%
Net Nonoperating Expense Percent (NNEP)		 -0.04% -0.04% -0.04% -0.02% -0.03% -0.25% -0.03% -0.05% -0.07% -0.02% -1.78%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 64.37% 58.80% 59.62% 61.36% 60.38% 56.25% 58.11% 59.06% 58.73% 65.52% 71.72%
Earnings before Interest and Taxes (EBIT)		 88 101 100 94 94 106 102 97 96 82 67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 148 154 152 146 146 157 153 148 147 152 147
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.38 3.33 4.31 3.63 3.62 3.56 2.93 3.42 3.49 2.92 2.91
Price to Tangible Book Value (P/TBV)		 3.38 3.34 4.32 3.63 3.62 3.57 2.93 3.43 3.50 2.93 2.91
Price to Revenue (P/Rev)		 9.81 9.86 12.40 10.41 10.49 10.46 8.66 10.18 10.55 9.06 9.48
Price to Earnings (P/E)		 24.92 24.47 29.87 24.88 24.67 24.27 21.61 24.55 27.96 28.37 32.58
Dividend Yield		 4.86% 4.82% 3.79% 4.48% 4.47% 4.47% 5.37% 4.46% 4.22% 4.84% 4.65%
Earnings Yield		 4.01% 4.09% 3.35% 4.02% 4.05% 4.12% 4.63% 4.07% 3.58% 3.52% 3.07%
Enterprise Value to Invested Capital (EV/IC)		 2.07 2.12 2.60 2.27 2.26 2.23 1.93 2.16 2.19 1.92 1.92
Enterprise Value to Revenue (EV/Rev)		 13.32 12.93 15.41 13.47 13.61 13.60 11.80 13.41 13.85 12.41 13.00
Enterprise Value to EBITDA (EV/EBITDA)		 21.74 21.01 24.84 21.60 21.60 21.42 18.64 21.22 22.01 19.92 20.89
Enterprise Value to EBIT (EV/EBIT)		 34.18 32.36 37.95 32.88 32.76 32.41 29.76 37.02 42.56 44.58 50.02
Enterprise Value to NOPAT (EV/NOPAT)		 34.18 32.36 37.95 32.88 32.76 32.41 29.76 37.02 42.56 44.58 50.02
Enterprise Value to Operating Cash Flow (EV/OCF)		 20.80 19.91 24.52 20.54 20.90 21.22 18.23 20.81 21.55 19.14 20.60
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 49.98 33.99 25.48 26.27 26.44 21.16 25.17 26.85 22.46 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.15 1.01 1.00 1.01 1.02 1.01 1.02 1.03 1.04 1.03 1.03
Long-Term Debt to Equity		 1.02 1.01 1.00 1.01 1.01 1.01 1.01 1.01 1.02 1.01 1.00
Financial Leverage		 1.09 1.01 1.01 1.02 1.03 1.02 1.02 1.05 1.05 1.04 1.00
Leverage Ratio		 2.24 2.16 2.16 2.18 2.17 2.17 2.17 2.20 2.19 2.18 2.15
Compound Leverage Factor		 2.27 2.19 2.19 2.19 2.19 2.33 2.20 2.23 2.24 2.20 3.65
Debt to Total Capital		 53.55% 50.28% 50.02% 50.32% 50.53% 50.36% 50.40% 50.76% 50.93% 50.83% 50.82%
Short-Term Debt to Total Capital		 6.08% 0.00% 0.00% 0.18% 0.32% 0.31% 0.26% 1.08% 1.04% 1.03% 1.45%
Long-Term Debt to Total Capital		 47.47% 50.28% 50.02% 50.14% 50.21% 50.05% 50.14% 49.68% 49.89% 49.80% 49.37%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.25% 1.38% 1.52% 1.35% 1.38% 1.41% 1.14% 1.33% 1.35% 1.21% 1.22%
Common Equity to Total Capital		 45.20% 48.34% 48.47% 48.33% 48.09% 48.23% 48.46% 47.91% 47.72% 47.95% 47.96%
Debt to EBITDA		 5.61 4.99 4.78 4.79 4.84 4.83 4.86 4.99 5.12 5.27 5.54
Net Debt to EBITDA		 5.59 4.86 4.71 4.78 4.83 4.81 4.85 4.97 5.11 5.26 5.53
Long-Term Debt to EBITDA		 4.98 4.99 4.78 4.78 4.81 4.80 4.84 4.89 5.02 5.16 5.39
Debt to NOPAT		 8.83 7.69 7.31 7.29 7.34 7.31 7.77 8.71 9.91 11.80 13.27
Net Debt to NOPAT		 8.79 7.49 7.19 7.28 7.32 7.29 7.74 8.68 9.88 11.76 13.24
Long-Term Debt to NOPAT		 7.83 7.69 7.31 7.27 7.29 7.26 7.73 8.52 9.70 11.56 12.90
Noncontrolling Interest Sharing Ratio		 2.74% 2.81% 2.66% 2.71% 2.77% 2.66% 2.39% 2.70% 2.95% 3.37% 8.29%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -420 -36 146 208 193 196 255 257 273 332 -1,393
Operating Cash Flow to CapEx		 1,561.59% 1,577.56% 1,204.71% 1,497.21% 1,554.99% 1,732.99% 2,665.80% 1,149.65% 1,226.06% 1,055.09% 1,641.45%
Free Cash Flow to Firm to Interest Expense		 -15.36 -1.54 6.14 8.77 8.04 8.29 10.51 10.46 11.02 13.50 -56.11
Operating Cash Flow to Interest Expense		 5.36 7.03 6.13 7.18 6.27 6.02 7.01 6.60 5.53 5.90 6.54
Operating Cash Flow Less CapEx to Interest Expense		 5.01 6.59 5.62 6.70 5.87 5.67 6.74 6.03 5.08 5.34 6.14
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.15 0.15 0.16 0.15 0.15 0.15 0.15 0.15 0.15 0.14 0.16
Fixed Asset Turnover		 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.16 0.15 0.15 0.17
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 6,292 5,940 5,747 5,732 5,785 5,804 5,793 5,847 5,884 5,894 5,946
Invested Capital Turnover		 0.16 0.17 0.17 0.17 0.16 0.16 0.16 0.16 0.16 0.15 0.17
Increase / (Decrease) in Invested Capital		 507 137 -46 -115 -98 -90 -153 -160 -177 -250 1,460
Enterprise Value (EV)		 13,047 12,564 14,924 13,002 13,053 12,966 11,187 12,615 12,872 11,322 11,386
Market Capitalization		 9,614 9,573 12,008 10,047 10,058 9,970 8,211 9,581 9,805 8,263 8,300
Book Value per Share		 $12.48 $12.70 $12.37 $12.31 $12.37 $12.45 $12.49 $12.47 $12.50 $12.58 $12.70
Tangible Book Value per Share		 $12.47 $12.69 $12.36 $12.30 $12.35 $12.43 $12.47 $12.45 $12.48 $12.56 $12.70
Total Capital		 6,292 5,940 5,747 5,732 5,785 5,804 5,793 5,847 5,884 5,894 5,946
Total Debt		 3,370 2,987 2,874 2,885 2,923 2,923 2,920 2,968 2,996 2,996 3,021
Total Long-Term Debt		 2,987 2,987 2,874 2,874 2,905 2,905 2,905 2,904 2,935 2,935 2,935
Net Debt		 3,354 2,909 2,829 2,877 2,916 2,915 2,910 2,957 2,988 2,987 3,013
Capital Expenditures (CapEx)		 9.37 10 12 11 9.66 8.21 6.37 14 11 14 9.88
Net Nonoperating Expense (NNE)		 -1.19 -1.23 -1.14 -0.51 -0.78 -7.50 -1.02 -1.57 -2.28 -0.66 -47
Net Nonoperating Obligations (NNO)		 3,370 2,987 2,874 2,885 2,923 2,923 2,920 2,968 2,996 2,996 3,021
Total Depreciation and Amortization (D&A)		 60 54 52 52 52 52 51 51 51 70 81
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.39 $0.44 $0.45 $0.42 $0.42 $0.50 $0.46 $0.43 $0.43 $0.36 $0.50
Adjusted Weighted Average Basic Shares Outstanding		 228.66M 226.35M 226.17M 225.89M 225.77M 225.42M 225.47M 225.39M 225.29M 224.93M 225.02M
Adjusted Diluted Earnings per Share		 $0.39 $0.45 $0.44 $0.41 $0.42 $0.51 $0.45 $0.43 $0.43 $0.36 $0.50
Adjusted Weighted Average Diluted Shares Outstanding		 229.17M 227.15M 227.15M 226.62M 226.58M 226.24M 226.21M 226.28M 226.18M 225.88M 225.97M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 227.95M 227.88M 226.15M 225.20M 224.97M 224.95M 224.86M 224.81M 224.68M 224.63M 224.57M
Normalized Net Operating Profit after Tax (NOPAT)		 61 70 70 66 66 74 71 68 67 57 47
Normalized NOPAT Margin		 24.94% 28.84% 28.27% 27.05% 27.73% 30.62% 29.32% 28.66% 28.89% 24.13% 19.79%
Pre Tax Income Margin		 36.12% 41.71% 40.85% 38.85% 39.95% 46.85% 42.31% 41.61% 42.25% 34.76% 47.95%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.20 4.30 4.21 3.94 3.93 4.47 4.21 3.93 3.87 3.32 2.70
NOPAT to Interest Expense		 3.20 4.30 4.21 3.94 3.93 4.47 4.21 3.93 3.87 3.32 2.70
EBIT Less CapEx to Interest Expense		 2.86 3.85 3.70 3.46 3.53 4.12 3.95 3.36 3.42 2.76 2.30
NOPAT Less CapEx to Interest Expense		 2.86 3.85 3.70 3.46 3.53 4.12 3.95 3.36 3.42 2.76 2.30
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 120.68% 117.83% 113.24% 111.47% 109.19% 107.22% 112.32% 105.84% 113.87% 132.36% 139.98%
Augmented Payout Ratio		 120.68% 117.83% 113.24% 111.47% 109.19% 107.22% 112.32% 105.84% 113.87% 132.36% 139.98%

Frequently Asked Questions About CubeSmart's Financials

When does CubeSmart's financial year end?

According to the most recent income statement we have on file, CubeSmart's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has CubeSmart's net income changed over the last 9 years?

CubeSmart's net income appears to be on an upward trend, with a most recent value of $391.89 million in 2024, rising from $78.76 million in 2015. The previous period was $412.44 million in 2023. See where experts think CubeSmart is headed by visiting CubeSmart's forecast page.

How has CubeSmart revenue changed over the last 9 years?

Over the last 9 years, CubeSmart's total revenue changed from $398.46 million in 2015 to $971.34 million in 2024, a change of 143.8%.

How much debt does CubeSmart have?

CubeSmart's total liabilities were at $3.44 billion at the end of 2024, a 2.9% increase from 2023, and a 146.9% increase since 2015.

How much cash does CubeSmart have?

In the past 9 years, CubeSmart's cash and equivalents has ranged from $2.97 million in 2016 to $71.56 million in 2024, and is currently $71.56 million as of their latest financial filing in 2024.

How has CubeSmart's book value per share changed over the last 9 years?

Over the last 9 years, CubeSmart's book value per share changed from 9.52 in 2015 to 12.70 in 2024, a change of 33.3%.


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This page (NYSE:CUBE) was last updated on 5/25/2025 by MarketBeat.com Staff
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