What is CubeSmart's earnings per share (EPS)?

CubeSmart (CUBE) reported diluted earnings per share of $1.46 for fiscal year 2025. This represents a -15.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

CubeSmart (CUBE) Financials

CUBE

Trailing 12 months to March 31, 2026

Revenue $1.1B +5.0% YoY

Net Income $325.3M -15.7% YoY

EPS (Diluted) $1.43 -14.9% YoY

Operating Cash Flow $611.0M -2.6% YoY

Market Cap $8.5B as of Oct 2, 2026

Price / Sales 7.5x on $1.1B revenue, trailing 12 months to March 31, 2026

Price / Earnings 26.1x on $325.3M net income, trailing 12 months to March 31, 2026

Price / Book 3.2x on $2.6B equity, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 1, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 1, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CUBE SEC filings page.

CubeSmart (CUBE) reported $1.1B in revenue over the twelve months to Mar 31, 2026, up 5.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CUBE FY2025 2026-09-05

Cash generation remains resilient as margin compression, higher interest costs, and heavier investment increasingly compete with shareholder distributions.

From FY2023 to FY2025, net margin fell from 39.3% to 29.5%, while operating cash flow stayed nearly flat; earnings weakened more than the cash economics. Depreciation rose from $205.4M to $263.1M, helping explain why cash held up better than reported profit.

Revenue rose 5.3% in FY2025 while gross margin narrowed to 68.7%. That pairing points to cost or mix pressure, rather than growth flowing cleanly through to profit. Interest expense also rose 25.8% as debt-to-equity reached 1.4x, making financing a larger drag.

Investing cash outflow widened from $174.0M in FY2024 to $571.3M in FY2025, showing a much heavier deployment of cash outside daily operations. With operating cash flow at $608.5M and dividends at $476.3M, distributions consumed most internally generated cash before that investment.

Financial Health Signals

Financial Health Score 41/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of CubeSmart's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. CubeSmart scores 84/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. CubeSmart scores 34/100 on it among other REITs.

Leverage

Not available for CubeSmart, and counted as zero in the overall score.

Interest Cov.

Not available for CubeSmart, and counted as zero in the overall score.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. CubeSmart scores 88/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. CubeSmart scores 38/100 on it among other REITs.

Piotroski F-Score Partial

5/7

CubeSmart passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.84x

For every $1 of reported earnings, CubeSmart generates $1.84 in operating cash flow ($608.5M OCF vs $331.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$281.9M

YoY+3.3%

QoQ-0.3%

5Y CAGR+8.3%

CubeSmart generated $281.9M in revenue in Q1 2026. This represents an increase of 3.3% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.

Net Income

$82.8M

YoY-6.8%

QoQ+6.5%

5Y CAGR+13.8%

10Y CAGR+18.0%

CubeSmart reported $82.8M in net income in Q1 2026. This represents a decrease of 6.8% from the same quarter a year earlier. Against the prior quarter it is up 6.5%.

EPS (Diluted)

$0.36

YoY-7.7%

QoQ+2.9%

5Y CAGR+11.4%

10Y CAGR+16.2%

CubeSmart earned $0.36 per diluted share (EPS) in Q1 2026. This represents a decrease of 7.7% from the same quarter a year earlier. Against the prior quarter it is up 2.9%.

EBITDA

Not reported for Q1 2026.

Cash & Balance Sheet

Cash & Debt

$7.3M

YoY-32.5%

QoQ+25.5%

5Y CAGR+14.7%

10Y CAGR+10.2%

CubeSmart held $7.3M in cash as of Q1 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.53

YoY+1.9%

QoQ0.0%

5Y CAGR+9.3%

CubeSmart paid $0.53 per share in dividends in Q1 2026. This represents an increase of 1.9% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

226M

YoY-0.7%

QoQ-0.3%

5Y CAGR+2.4%

10Y CAGR+2.5%

CubeSmart had 226M shares outstanding in Q1 2026. This represents a decrease of 0.7% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.

Free Cash Flow

Not reported for Q1 2026.

Margins & Returns

Gross Margin

68.0%

YoY-1.6pp

QoQ-0.6pp

5Y change+0.5pp

CubeSmart's gross margin was 68.0% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.

Net Margin

29.3%

YoY-3.2pp

QoQ+1.9pp

5Y change+6.4pp

CubeSmart's net profit margin was 29.3% in Q1 2026, showing the share of revenue converted to profit. This is down 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.9 percentage points.

Return on Equity

3.1%

YoY0.0pp

QoQ+0.3pp

5Y change+0.8pp

10Y change+2.2pp

CubeSmart's ROE was 3.1% in Q1 2026, measuring profit generated per dollar of shareholder equity. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.

Operating Margin

Not reported for Q1 2026.

Capital Allocation

Share Buybacks

$33.4M

CubeSmart spent $33.4M on share buybacks in Q1 2026, returning capital to shareholders by reducing shares outstanding.

R&D Spending

Not reported for Q1 2026.

Capital Expenditures

Not reported for Q1 2026.

CUBE Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CUBE quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.1B	$1.1B+5.3%	$1.1B+1.5%	$1.1B+4.0%	$1.0B+22.7%	$822.6M+21.1%	$679.2M+5.5%	$643.9M+7.7%	$597.9M+7.0%	$558.9M	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	$358.5M	$351.4M+10.6%	$317.8M+7.8%	$294.8M+0.5%	$293.3M+16.3%	$252.1M+12.7%	$223.6M+63.8%	$136.5M-30.7%	$196.9M+8.5%	$181.5M+9.4%	$165.8M+8.3%	$153.2M+15.4%	$132.7M+12.2%	$118.2M+14.2%	$103.5M+18.2%	$87.6M
Gross Profit	$773.5M	$771.7M+3.1%	$748.5M-0.9%	$755.6M+5.5%	$716.4M+25.6%	$570.5M+25.2%	$455.5M-10.2%	$507.4M+26.5%	$401.1M+6.3%	$377.4M	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$65.8M	$64.7M+8.4%	$59.7M+4.6%	$57.0M+4.4%	$54.6M+14.3%	$47.8M+15.4%	$41.4M+7.4%	$38.6M+2.2%	$37.7M+8.5%	$34.7M+5.9%	$32.8M+15.7%	$28.4M-0.2%	$28.4M-3.9%	$29.6M+13.1%	$26.1M+5.8%	$24.7M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$195.7M+36.9%	$143.0M+32.5%	$107.9M+32.3%	$81.5M+49.8%	$54.4M+128.9%	$23.8M-35.3%	$36.8M
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$341.4M+12.0%	$304.8M+17.4%	$259.7M+24.6%	$208.4M+24.9%	$166.8M+24.8%	$133.6M+35.3%	$98.7M
Interest Expense	$117.8M	$114.1M+25.6%	$90.8M-2.4%	$93.1M-0.2%	$93.3M+18.9%	$78.4M+3.4%	$75.9M+4.6%	$72.5M+16.7%	$62.1M+9.1%	$57.0M+13.0%	$50.4M+15.2%	$43.7M-6.6%	$46.8M+15.8%	$40.4M+0.3%	$40.3M+23.0%	$32.8M
Net Income	$325.3M	$331.3M-15.5%	$391.9M-5.0%	$412.4M+41.0%	$292.5M+26.7%	$230.8M+37.7%	$167.6M-1.9%	$170.8M+4.2%	$163.9M+22.0%	$134.3M+52.8%	$87.9M+13.1%	$77.7M+194.6%	$26.4M-36.4%	$41.4M+2181.1%	$1.8M+556.5%	-$398K
EPS (Basic)	N/A	$1.46-15.6%	$1.73-4.9%	$1.82+41.1%	$1.29+17.3%	$1.10+29.4%	$0.85-4.5%	$0.890.0%	$0.89+20.3%	$0.74+64.4%	$0.45+4.7%	$0.43+207.1%	$0.14-46.2%	$0.26+966.7%	-$0.03-50.0%	-$0.02
EPS (Diluted)	$1.43	$1.46-15.1%	$1.72-5.5%	$1.82+41.1%	$1.29+18.3%	$1.09+28.2%	$0.85-3.4%	$0.880.0%	$0.88+18.9%	$0.74+64.4%	$0.45+7.1%	$0.42+200.0%	$0.14-46.2%	$0.26+966.7%	-$0.03-50.0%	-$0.02
Diluted Shares (Avg)	N/A	229M+0.9%	227M+0.4%	226M+0.2%	226M+10.2%	205M+5.2%	195M+1.8%	192M+3.3%	185M+2.2%	181M+1.1%	180M+5.5%	170M+12.8%	151M+9.5%	138M+10.6%	125M+20.9%	103M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$281.9M+3.3%	$282.7M+5.6%	$285.1M+5.2%	$282.3M+6.0%	$273.0M+4.4%	$267.7M+1.0%	$270.9M+1.1%	$266.2M+2.1%
Cost of Revenue	$90.1M+8.6%	$88.6M+17.0%	$90.8M+11.0%	$89.0M+7.1%	$82.9M+7.7%	$75.7M+6.3%	$81.9M+5.6%	$83.1M+11.1%
Gross Profit	$191.9M+0.9%	$194.1M+1.1%	$194.2M+2.8%	$193.3M+5.6%	$190.1M+3.1%	$192.0M-1.0%	$189.0M-0.7%	$183.1M-1.5%
SG&A Expenses	$17.2M+7.0%	$17.2M+13.4%	$16.5M+15.7%	$14.9M+1.9%	$16.1M+2.8%	$15.2M+8.4%	$14.3M+1.5%	$14.6M+2.1%
Interest Expense	$29.8M+14.3%	$29.5M+31.9%	$29.4M+29.1%	$29.1M+27.8%	$26.1M+13.9%	$22.4M-1.1%	$22.8M-2.0%	$22.8M-3.3%
Net Income	$82.8M-6.8%	$77.7M-23.7%	$82.4M-18.4%	$82.4M-12.5%	$88.7M-6.4%	$101.9M-9.9%	$101.0M-2.1%	$94.2M-4.2%
EPS (Basic)	$0.36-7.7%	$0.34-24.4%	$0.36-20.0%	$0.36-14.3%	$0.39-7.1%	$0.45-10.0%	$0.45-2.2%	$0.42-2.3%
EPS (Diluted)	$0.36-7.7%	$0.35-20.5%	$0.36-18.2%	$0.36-12.2%	$0.39-7.1%	$0.44-12.0%	$0.44-2.2%	$0.41-4.7%
Diluted Shares (Avg)	228M-0.4%	N/A	229M+0.9%	229M+1.2%	229M+1.1%	N/A	227M+0.4%	227M+0.2%

Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA, Income Tax.

CUBE Balance Sheet

CUBE quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$6.6B+3.9%	$6.4B+2.7%	$6.2B-1.6%	$6.3B-3.4%	$6.5B+37.0%	$4.8B+18.6%	$4.0B+7.4%	$3.8B+5.9%	$3.5B+2.0%	$3.5B+11.9%	$3.1B+11.4%	$2.8B+18.1%	$2.4B+9.7%	$2.2B+14.6%	$1.9B
Cash & Equivalents	$5.8M-91.9%	$71.6M+996.5%	$6.5M+7.6%	$6.1M-45.6%	$11.1M+210.1%	$3.6M-93.5%	$54.9M+1357.4%	$3.8M-28.5%	$5.3M+77.2%	$3.0M-95.3%	$62.9M+2067.1%	$2.9M-8.7%	$3.2M-29.3%	$4.5M-50.4%	$9.1M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$9.7M-6.5%	$10.4M+16.0%	$8.9M+12.8%	$7.9M-2.6%	$8.1M+39.7%	$5.8M-8.7%	$6.4M+12.6%	$5.7M+3.2%	$5.5M+24.0%	$4.4M-63.4%	$12.1M+185.7%	$4.2M-14.5%	$5.0M-51.4%	$10.2M+177.7%	$3.7M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$3.9B+12.2%	$3.4B+2.9%	$3.3B-2.4%	$3.4B-3.4%	$3.5B+32.1%	$2.7B+24.4%	$2.2B+9.1%	$2.0B+6.7%	$1.9B+5.5%	$1.8B+26.3%	$1.4B+8.3%	$1.3B+4.7%	$1.2B+10.5%	$1.1B+33.9%	$830.9M
Total Equity	$2.7B-5.3%	$2.9B+2.6%	$2.8B-1.0%	$2.8B-1.6%	$2.9B+56.7%	$1.8B+1.8%	$1.8B+5.2%	$1.7B+4.9%	$1.6B-1.6%	$1.7B+0.7%	$1.6B+13.5%	$1.4B+32.6%	$1.1B+10.4%	$989.8M+3.5%	$955.9M
Retained Earnings	-$1.6B-12.0%	-$1.4B-5.2%	-$1.3B-3.4%	-$1.3B-6.8%	-$1.2B-25.0%	-$974.8M-11.2%	-$876.6M-10.7%	-$791.9M-8.6%	-$729.3M-10.7%	-$658.6M-12.6%	-$584.7M-12.6%	-$519.2M-17.8%	-$440.8M-7.5%	-$410.2M-19.9%	-$342.0M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$6.6B-2.1%	$6.6B+3.9%	$6.8B+9.1%	$6.7B+8.5%	$6.7B+8.6%	$6.4B+2.7%	$6.2B-0.7%	$6.2B-1.5%
Cash & Equivalents	$7.3M-32.5%	$5.8M-91.9%	$108.4M+149.1%	$8.7M+54.5%	$10.8M+92.4%	$71.6M+996.5%	$43.5M+441.9%	$5.7M-38.7%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$8.9M-1.8%	$9.7M-6.5%	$9.8M-0.3%	$9.9M+7.5%	$9.1M+15.0%	$10.4M+16.0%	$9.9M+15.2%	$9.2M+20.1%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$3.9B+2.0%	$3.9B+12.2%	$3.9B+17.6%	$3.8B+14.5%	$3.8B+14.1%	$3.4B+2.9%	$3.3B-1.2%	$3.3B-1.9%
Total Equity	$2.6B-6.9%	$2.7B-5.3%	$2.8B-0.1%	$2.8B+1.6%	$2.8B+2.2%	$2.9B+2.6%	$2.8B-0.8%	$2.8B-1.1%
Retained Earnings	-$1.7B-14.6%	-$1.6B-12.0%	-$1.5B-7.4%	-$1.5B-6.9%	-$1.4B-5.9%	-$1.4B-5.2%	-$1.4B-6.0%	-$1.4B-4.0%

Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

CUBE Cash Flow Statement

CUBE quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$611.0M	$608.5M-3.6%	$631.1M+3.3%	$611.1M+3.3%	$591.5M+31.7%	$449.2M+28.0%	$351.0M+5.8%	$331.8M+9.0%	$304.3M+4.3%	$291.9M+10.9%	$263.3M+21.2%	$217.3M+30.9%	$166.0M+16.2%	$142.9M+20.6%	$118.4M+40.4%	$84.3M
Depreciation & Amortization	N/A	$263.1M+25.4%	$209.8M+2.1%	$205.4M-34.7%	$314.5M+35.5%	$232.0M+48.2%	$156.6M-4.3%	$163.5M+14.1%	$143.3M-1.6%	$145.7M-10.0%	$161.9M+6.6%	$151.8M+19.7%	$126.8M+12.9%	$112.3M+2.3%	$109.8M+77.2%	$62.0M
Stock-Based Compensation	N/A	$11.5M+0.5%	$11.5M+13.9%	$10.1M+11.1%	$9.1M+12.3%	$8.1M+13.3%	$7.1M+6.7%	$6.7M+20.1%	$5.6M-0.3%	$5.6M+15.2%	$4.8M+30.3%	$3.7M+114.5%	$1.7M-69.1%	$5.6M+23.5%	$4.5M+42.0%	$3.2M
Capital Expenditures	N/A	N/A	$42.2M	N/A	N/A	N/A	N/A	$118.3M-48.0%	$227.5M+182.1%	$80.7M	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	$588.9M	N/A	N/A	N/A	N/A	$213.5M+177.9%	$76.8M-63.6%	$211.3M	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$125.7M	-$571.3M-228.4%	-$174.0M-85.4%	-$93.8M-92.4%	-$48.8M+97.4%	-$1.9B-262.2%	-$511.4M-36.1%	-$375.7M-16.6%	-$322.3M-114.4%	-$150.3M+73.1%	-$559.3M-49.3%	-$374.6M+28.3%	-$522.7M-84.7%	-$282.9M-4.0%	-$271.9M+38.5%	-$442.1M
Financing Cash Flow	-$491.6M	-$104.6M+73.0%	-$387.7M+25.2%	-$518.0M+5.3%	-$547.1M-138.8%	$1.4B+1203.7%	$108.2M+12.9%	$95.9M+528.6%	$15.2M+110.6%	-$143.3M-165.3%	$219.4M+1.0%	$217.3M-39.0%	$356.4M+156.9%	$138.7M-6.8%	$148.9M-58.7%	$361.0M
Dividends Paid	$478.3M	$476.3M+3.1%	$461.8M+4.4%	$442.2M+14.2%	$387.1M+41.4%	$273.8M+6.9%	$256.3M+5.1%	$243.9M+10.2%	$221.3M+13.5%	$195.0M+30.6%	$149.3M+39.4%	$107.1M+41.2%	$75.8M+28.2%	$59.2M+48.8%	$39.8M+42.8%	$27.8M
Share Buybacks	N/A	$31.9M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	$148.8M+1.7%	$136.5M-17.1%	$168.2M+15.7%	$157.5M-7.8%	$146.3M-2.6%	$164.7M+15.7%	$145.4M-14.4%	$170.9M+5.2%
Depreciation & Amortization	$62.5M+3.5%	$67.1M+24.8%	$66.7M+30.2%	$66.5M+30.3%	$60.4M+16.7%	$53.8M+4.2%	$51.2M+2.5%	$51.0M+1.3%
Stock-Based Compensation	$3.3M+2.4%	N/A	N/A	N/A	$3.2M+13.4%	N/A	N/A	N/A
Investing Cash Flow	-$21.7M+95.4%	-$58.4M+42.3%	-$21.6M-17.8%	-$24.1M-18.3%	-$467.3M-1265.7%	-$101.1M-186.5%	-$18.3M-65.1%	-$20.3M+7.1%
Financing Cash Flow	-$127.9M-149.4%	-$182.6M-484.3%	-$46.2M+48.1%	-$134.8M+10.6%	$259.1M+322.3%	-$31.3M+71.2%	-$89.0M+44.3%	-$150.9M-9.2%
Dividends Paid	$121.1M+1.7%	$119.1M+2.8%	$119.1M+3.2%	$119.1M+3.3%	$119.0M+3.3%	$115.9M+4.7%	$115.4M+4.3%	$115.3M+4.3%
Share Buybacks	$33.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

CUBE Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CUBE quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	68.7%-1.5pp	70.2%-1.7pp	71.9%+1.0pp	71.0%+1.6pp	69.3%+2.3pp	67.1%-11.7pp	78.8%+11.7pp	67.1%-0.5pp	67.5%	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	35.0%	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	29.5%-7.3pp	36.8%-2.5pp	39.3%+10.3pp	29.0%+0.9pp	28.1%+3.4pp	24.7%-1.8pp	26.5%-0.9pp	27.4%+3.4pp	24.0%	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	12.2%-1.5pp	13.7%-1.1pp	14.7%+4.4pp	10.3%+2.3pp	8.0%-1.1pp	9.2%-0.3pp	9.5%-0.1pp	9.6%+1.3pp	8.2%+2.9pp	5.3%+0.6pp	4.7%+2.9pp	1.8%-2.0pp	3.8%+3.6pp	0.2%+0.2pp	0.0%
Return on Assets	5.0%-1.1pp	6.1%-0.5pp	6.6%+2.0pp	4.6%+1.1pp	3.5%0.0pp	3.5%-0.7pp	4.2%-0.1pp	4.4%+0.6pp	3.8%+1.3pp	2.5%0.0pp	2.5%+1.6pp	0.9%-0.8pp	1.8%+1.7pp	0.1%+0.1pp	0.0%
Debt-to-Equity	1.42+0.2x	1.200.0x	1.190.0x	1.210.0x	1.24-0.2x	1.47+0.3x	1.200.0x	1.160.0x	1.14+0.1x	1.06+0.2x	0.850.0x	0.89-0.2x	1.130.0x	1.12+0.3x	0.87
Asset Turnover	0.170.0x	0.170.0x	0.170.0x	0.160.0x	0.130.0x	0.140.0x	0.160.0x	0.160.0x	0.16	N/A	N/A	N/A	N/A	N/A	N/A
FCF Margin	N/A	55.2%	N/A	N/A	N/A	N/A	33.1%+20.3pp	12.8%-24.9pp	37.8%	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Gross Margin	68.0%-1.6pp	68.7%-3.0pp	68.1%-1.6pp	68.5%-0.3pp	69.6%-0.9pp	71.7%-1.4pp	69.8%-1.3pp	68.8%-2.5pp
Net Margin	29.3%-3.2pp	27.5%-10.6pp	28.9%-8.4pp	29.2%-6.2pp	32.5%-3.8pp	38.1%-4.6pp	37.3%-1.2pp	35.4%-2.3pp
Return on Equity	3.1%0.0pp	2.9%-0.7pp	3.0%-0.7pp	2.9%-0.5pp	3.1%-0.3pp	3.5%-0.5pp	3.6%-0.1pp	3.4%-0.1pp
Return on Assets	1.3%-0.1pp	1.2%-0.4pp	1.2%-0.4pp	1.2%-0.3pp	1.3%-0.2pp	1.6%-0.2pp	1.6%0.0pp	1.5%0.0pp
Debt-to-Equity	1.47+0.1x	1.42+0.2x	1.40+0.2x	1.36+0.2x	1.34+0.1x	1.200.0x	1.190.0x	1.200.0x
Asset Turnover	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x

Not reported in any period shown, so not listed: Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
CubeSmart CUBE	FY2025	$1.1B	$331.3M	29.5%	$8.5B	41/100
EastGroup Properties Inc. EGP	FY2025	$721.3M	$257.5M	35.7%	$10.6B	43/100
First Industrial Realty Trust, Inc. FR	FY2025	$727.1M	$247.4M	34.0%	$7.9B	48/100
STAG INDUSTRIAL, INC. STAG	FY2025	$845.2M	$273.5M	32.4%	$6.9B	54/100
Terreno Realty Corporation TRNO	FY2025	$476.4M	$403.0M	84.6%	$7.0B	51/100
National Storage Affiliates Trust NSA	FY2025	$752.9M	$73.8M	9.8%	$3.4B	31/100

Where CubeSmart Ranks

Frequently Asked Questions

What is CubeSmart's annual revenue?

CubeSmart (CUBE) reported $1.1B in total revenue for fiscal year 2025. This represents a 5.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is CubeSmart's revenue growing?

CubeSmart (CUBE) revenue grew by 5.3% year-over-year, from $1.1B to $1.1B in fiscal year 2025.

Is CubeSmart profitable?

Yes, CubeSmart (CUBE) reported a net income of $331.3M in fiscal year 2025, with a net profit margin of 29.5%.

What is CubeSmart's gross margin?

CubeSmart (CUBE) had a gross margin of 68.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is CubeSmart's net profit margin?

CubeSmart (CUBE) had a net profit margin of 29.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does CubeSmart pay dividends?

Yes, CubeSmart (CUBE) paid $2.09 per share in dividends during fiscal year 2025.

What is CubeSmart's return on equity (ROE)?

CubeSmart (CUBE) has a return on equity of 12.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is CubeSmart's operating cash flow?

CubeSmart (CUBE) generated $608.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are CubeSmart's total assets?

CubeSmart (CUBE) had $6.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Does CubeSmart buy back shares?

Yes, CubeSmart (CUBE) spent $31.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does CubeSmart have outstanding?

CubeSmart (CUBE) had 227M shares outstanding as of fiscal year 2025.

What is CubeSmart's debt-to-equity ratio?

CubeSmart (CUBE) had a debt-to-equity ratio of 1.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is CubeSmart's return on assets (ROA)?

CubeSmart (CUBE) had a return on assets of 5.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is CubeSmart's P/E ratio?

CubeSmart (CUBE) trades at 26.1x earnings, its market capitalization divided by net income of $325.3M net income, trailing 12 months to March 31, 2026. The market capitalization is $8.5B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is CubeSmart's price-to-sales ratio?

CubeSmart (CUBE) trades at 7.5x sales, its market capitalization divided by revenue of $1.1B revenue, trailing 12 months to March 31, 2026. The market capitalization is $8.5B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is CubeSmart's Piotroski F-Score?

CubeSmart (CUBE) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are CubeSmart's earnings high quality?

CubeSmart (CUBE) has an earnings quality ratio of 1.84x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is CubeSmart?

CubeSmart (CUBE) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.