SmartStop Self Storage REIT, Inc. (SMA) Financials

SMA

Trailing 12 months to June 30, 2026

Revenue $306.5M +21.1% YoY

Net Income $35.9M +276.5% YoY

Operating Cash Flow $110.3M +116.7% YoY

Gross Profit $183.4M +14.0% YoY

Market Cap $1.8B as of Sep 12, 2026

Price / Sales 5.8x on $306.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings 49.6x on $35.9M net income, trailing 12 months to June 30, 2026

Price / Book 1.5x on $1.2B equity, Q2 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 Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 7, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SMA SEC filings page.

SmartStop Self Storage REIT, Inc. (SMA) reported $306.5M in revenue over the twelve months to Jun 30, 2026, up 21.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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 SMA FY2025 2026-08-29

Growth is being absorbed by higher operating costs while asset expansion relies heavily on external financing rather than internally generated cash.

Revenue grew 18.6% in FY2025, but operating margin fell to 21.0%. That divergence, alongside SG&A rising to $38M from $30M, points to cost absorption—not simple volume-led operating leverage—as the main constraint.

Operating cash flow was $85.0M despite a net loss of $1.7M in FY2025. With depreciation and amortization at $73.2M, the gap indicates property-heavy accounting charges are a major reason cash generation exceeds reported earnings.

Debt-to-equity fell from 4.2x in FY2024 to 1.0x in FY2025, a capital-structure reset rather than earnings-driven deleveraging. Meanwhile, investing cash flow was -$381M and financing cash flow was $325M, indicating asset deployment was funded predominantly outside operating cash generation.

Financial Health Signals

Financial Health Score 34/100

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 SmartStop Self Storage REIT, Inc.'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. SmartStop Self Storage REIT, Inc. scores 48/100 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. SmartStop Self Storage REIT, Inc. scores 35/100 on it among other REITs.

Leverage

Not available for SmartStop Self Storage REIT, Inc., and counted as zero in the overall score.

Interest Cov.

SmartStop Self Storage REIT, Inc.'s operating income of $59.1M covered its interest expense of $59.9M 0.99 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and SmartStop Self Storage REIT, Inc. scores 43/100 among other REITs.

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. SmartStop Self Storage REIT, Inc. scores 51/100 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. SmartStop Self Storage REIT, Inc. scores 25/100 on it among other REITs.

Piotroski F-Score Partial

3/6

SmartStop Self Storage REIT, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

N/A

SmartStop Self Storage REIT, Inc. reported a net loss of $1.7M while generating $85.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

0.99x

SmartStop Self Storage REIT, Inc. earns $0.99 in operating income for every $1 of interest expense ($59.1M vs $59.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$79.3M

YoY+18.6%

QoQ+1.2%

5Y CAGR+13.4%

10Y CAGR+23.3%

SmartStop Self Storage REIT, Inc. generated $79.3M in revenue in Q2 2026. This represents an increase of 18.6% from the same quarter a year earlier. Against the prior quarter it is up 1.2%.

EBITDA

$37.6M

YoY+36.5%

QoQ+3.8%

5Y CAGR+12.0%

SmartStop Self Storage REIT, Inc.'s EBITDA was $37.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 36.5% from the same quarter a year earlier. Against the prior quarter it is up 3.8%.

Net Income

$11.2M

YoY+234.5%

QoQ+17.4%

SmartStop Self Storage REIT, Inc. reported $11.2M in net income in Q2 2026. This represents an increase of 234.5% from the same quarter a year earlier. Against the prior quarter it is up 17.4%.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$38.2M

YoY+1.2%

QoQ-0.1%

5Y CAGR+7.5%

10Y CAGR+11.8%

SmartStop Self Storage REIT, Inc. held $38.2M in cash against $1.1B in long-term debt as of Q2 2026.

Shares Outstanding

55M

YoY+78.3%

QoQ0.0%

SmartStop Self Storage REIT, Inc. had 55M shares outstanding in Q2 2026. This represents an increase of 78.3% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

60.1%

YoY+0.8pp

QoQ+2.8pp

SmartStop Self Storage REIT, Inc.'s gross margin was 60.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.8 percentage points.

Operating Margin

22.6%

YoY+7.2pp

QoQ+1.8pp

5Y change+6.1pp

10Y change+113.5pp

SmartStop Self Storage REIT, Inc.'s operating margin was 22.6% in Q2 2026, reflecting core business profitability. This is up 7.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.8 percentage points.

Net Margin

14.2%

YoY+26.7pp

QoQ+2.0pp

5Y change+17.3pp

SmartStop Self Storage REIT, Inc.'s net profit margin was 14.2% in Q2 2026, showing the share of revenue converted to profit. This is up 26.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Return on Equity

1.0%

YoY+1.7pp

QoQ+0.1pp

5Y change+1.3pp

10Y change+4.2pp

SmartStop Self Storage REIT, Inc.'s ROE was 1.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Capital Allocation

None of these metrics is reported for Q2 2026.

SMA 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.

SMA 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
Revenue	$306.5M	$281.1M+18.6%	$237.0M+1.7%	$233.0M+9.6%	$212.6M+26.0%	$168.8M+36.1%	$124.0M+13.2%	$109.5M+36.2%	$80.4M+5.7%	$76.1M+67.5%	$45.4M+153.7%	$17.9M+3747.8%	$465K	$0
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$25.2M+3.0%	$24.5M+53.3%	$16.0M+136.5%	$6.8M+3934.1%	$167K	$0
Gross Profit	$183.4M	$172.5M+10.8%	$155.7M-1.8%	$158.5M+7.8%	$147.1M	N/A	N/A	N/A	$55.2M+6.9%	$51.6M+75.3%	$29.5M+164.1%	$11.2M+3643.2%	$298K	$0
SG&A Expenses	$37.7M	$38.2M+27.6%	$29.9M+9.1%	$27.5M-2.8%	$28.3M+21.4%	$23.3M+41.2%	$16.5M+57.4%	$10.5M+115.8%	$4.8M+40.2%	$3.5M+20.9%	$2.9M+79.7%	$1.6M+68.6%	$944K	$0
Operating Income	$65.7M	$59.1M-14.6%	$69.2M-2.0%	$70.6M+7.2%	$65.9M+299.0%	$16.5M+178.1%	-$21.1M-282.4%	$11.6M-28.3%	$16.2M+351.8%	$3.6M+124.0%	-$14.9M-193.7%	-$5.1M-125.0%	-$2.3M	$0
EBITDA	N/A	$132.3M+5.6%	$125.3M-4.2%	$130.9M+0.3%	$130.5M+86.7%	$69.9M+233.8%	$20.9M-60.3%	$52.7M+35.3%	$39.0M+5.2%	$37.0M+416.6%	$7.2M+77.7%	$4.0M+301.7%	-$2.0M	$0
Interest Expense	$52.3M	$59.9M-17.2%	$72.3M+17.0%	$61.8M+48.9%	$41.5M+24.3%	$33.4M-7.4%	$36.1M-4.0%	$37.6M+108.7%	$18.0M+10.1%	$16.4M+119.7%	$7.4M+156.0%	$2.9M+2387.3%	$117K	$0
Income Tax	$1.7M	$1.9M+28.1%	$1.5M+157.2%	-$2.6M-367.7%	-$555K+69.4%	-$1.8M+68.9%	-$5.8M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$35.9M	-$1.7M+70.5%	-$5.9M-150.5%	$11.6M-46.3%	$21.7M+210.8%	-$19.6M+61.8%	-$51.2M-104.0%	-$25.1M-574.5%	-$3.7M+75.2%	-$15.0M+42.6%	-$26.1M-192.1%	-$8.9M-273.0%	-$2.4M	$0
EPS (Basic)	N/A	N/A	-$0.78-500.0%	-$0.13-150.0%	$0.26+170.3%	-$0.37+59.3%	-$0.91	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	—	N/A	-$0.78-500.0%	-$0.13-150.0%	$0.26	-$0.37+59.3%	-$0.91	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	92M	79M+33.2%	60M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$79.3M+18.6%	$78.3M+19.7%	$78.4M+29.4%	$70.4M+17.1%	$66.8M+12.9%	$65.4M+14.7%	$60.6M+5.4%	$60.2M+2.5%
Gross Profit	$47.6M+20.3%	$44.9M+6.9%	$48.0M+19.3%	$42.9M+9.9%	$39.6M+0.8%	$42.0M+13.0%	$40.2M	$39.0M
SG&A Expenses	$9.9M-15.4%	$9.1M+16.4%	$8.2M+9.8%	$10.4M+44.7%	$11.7M+49.7%	$7.8M+5.7%	$7.5M+0.6%	$7.2M+14.9%
Operating Income	$17.9M+74.2%	$16.2M-5.9%	$18.8M+5.5%	$12.8M-27.8%	$10.3M-41.9%	$17.2M+7.7%	$17.8M+5.1%	$17.7M-2.4%
EBITDA	$37.6M+36.5%	$36.3M+6.8%	$38.8M+19.7%	$32.0M+0.6%	$27.6M-12.4%	$33.9M+14.4%	$32.4M+2.5%	$31.8M-4.6%
Interest Expense	$13.3M+10.9%	$13.1M-40.3%	$13.3M-31.2%	$12.5M-34.5%	$12.0M-30.4%	$22.0M+33.0%	$19.4M+19.1%	$19.1M+19.9%
Income Tax	$379K+19.2%	$331K-45.4%	$362K-7.4%	$615K+52.2%	$318K-8.4%	$606K+77.2%	$391K+123.1%	$404K+138.5%
Net Income	$11.2M+234.5%	$9.6M+213.9%	$9.8M+266.1%	$5.2M+184.0%	-$8.4M-1086.1%	-$8.4M-412.5%	$2.7M+13.7%	-$6.2M-308.8%
EPS (Basic)	N/A	N/A	N/A	$0.09+134.6%	-$0.160.0%	-$0.35-75.0%	-$0.04-300.0%	-$0.26-2500.0%
EPS (Diluted)	N/A	N/A	N/A	$0.09	-$0.16	-$0.35	-$0.04-300.0%	-$0.26-2500.0%
Diluted Shares (Avg)	N/A	N/A	N/A	55M	54M	24M	N/A	24M-75.1%

Not reported in any period shown, so not listed: Cost of Revenue, R&D Expenses.

SMA Balance Sheet

SMA 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
Total Assets	$2.4B+19.1%	$2.0B+7.7%	$1.9B-2.6%	$1.9B+20.3%	$1.6B+26.2%	$1.3B-2.2%	$1.3B+64.7%	$796.4M-2.6%	$817.5M+8.6%	$752.6M+289.0%	$193.4M+451.9%	$35.1M+17338.1%	$201K
Cash & Equivalents	$54.2M+134.6%	$23.1M-48.7%	$45.1M+14.2%	$39.5M+6.0%	$37.3M-48.8%	$72.7M+16.7%	$62.3M+506.3%	$10.3M+39.7%	$7.4M-50.9%	$15.0M-46.6%	$28.1M+330.3%	$6.5M+3149.3%	$201K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$70.0M+30.4%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M-31.6%	$78.4M	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.2B-16.0%	$1.4B+21.1%	$1.1B+1.8%	$1.1B-12.8%	$1.3B+16.1%	$1.1B+41.7%	$775.8M+85.2%	$418.9M+2.1%	$410.1M+23.8%	$331.2M+1155.9%	$26.4M+42.0%	$18.6M+9184.5%	$200K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$320.8M+1293.1%	$23.0M	N/A	N/A
Total Equity	$1.2B+262.4%	$325.7M-19.4%	$404.3M-13.5%	$467.4M+36.4%	$342.7M+87.0%	$183.2M-33.1%	$273.8M-20.7%	$345.3M-8.8%	$378.5M-7.8%	$410.7M+147.6%	$165.9M+1368.2%	$11.3M+1129721.6%	$1K
Retained Earnings	-$194.4M-4.7%	-$185.6M-11.0%	-$167.3M-1.7%	-$164.5M+3.7%	-$170.8M-20.8%	-$141.4M-62.4%	-$87.1M-39.7%	-$62.3M-6.3%	-$58.6M-34.0%	-$43.8M-147.5%	-$17.7M-638.1%	-$2.4M	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$2.4B+5.9%	$2.4B+14.5%	$2.4B+19.1%	$2.4B+23.4%	$2.3B+22.6%	$2.1B+12.1%	$2.0B+7.7%	$1.9B+2.4%
Cash & Equivalents	$38.2M+1.2%	$38.2M+8.6%	$54.2M+134.6%	$47.8M+30.3%	$37.7M+8.8%	$35.2M-10.2%	$23.1M-48.7%	$36.7M+7.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	N/A	N/A	N/A	$400K	$200K	$200K	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$70.0M+30.4%	$70.0M+30.4%	$70.0M+30.4%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%
Total Liabilities	$1.2B+17.9%	$1.2B-21.3%	$1.2B-16.0%	$1.1B-11.9%	$1.0B-13.9%	$1.5B+27.7%	$1.4B+21.1%	$1.3B+12.6%
Long-Term Debt	$1.1B	$1.1B	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.2B-4.9%	$1.2B+285.5%	$1.2B+262.4%	$1.2B+249.6%	$1.2B+232.6%	$303.0M-21.3%	$325.7M-19.4%	$343.9M-18.4%
Retained Earnings	-$173.6M+14.2%	-$184.8M+4.8%	-$194.4M-4.7%	-$197.2M-8.4%	-$202.4M-15.2%	-$194.1M-12.9%	-$185.6M-11.0%	-$182.0M-9.5%

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

SMA Cash Flow Statement

SMA 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
Operating Cash Flow	$110.3M	$85.0M+32.7%	$64.0M-12.5%	$73.2M-16.7%	$87.9M+49.6%	$58.8M+119.5%	$26.8M+174.1%	$9.8M-46.8%	$18.4M-7.9%	$19.9M+2379.7%	-$874K+30.2%	-$1.3M-274.4%	-$334K	$0
Depreciation & Amortization	N/A	$73.2M+30.5%	$56.1M-6.8%	$60.2M-6.8%	$64.6M+21.1%	$53.4M+26.9%	$42.1M+2.4%	$41.1M+80.2%	$22.8M-31.8%	$33.5M+51.5%	$22.1M+142.3%	$9.1M+3444.6%	$257K	$0
Stock-Based Compensation	N/A	$16.6M+216.1%	$5.3M0.0%	$5.3M+32.5%	$4.0M+36.5%	$2.9M+67.2%	$1.7M+329.8%	$405K+437.3%	$75K+121.6%	$34K	N/A	N/A	N/A	N/A
Investing Cash Flow	-$193.6M	-$380.8M-110.4%	-$180.9M-69160.3%	$262K+100.1%	-$205.2M-70.7%	-$120.2M-315.1%	-$29.0M+91.7%	-$347.8M-10839.0%	-$3.2M+94.5%	-$57.5M+88.7%	-$508.4M	N/A	N/A	N/A
Financing Cash Flow	$85.3M	$325.2M+243.0%	$94.8M+243.4%	-$66.1M-155.1%	$120.1M+367.6%	$25.7M+86.9%	$13.7M-96.5%	$392.2M+3227.4%	-$12.5M-140.1%	$31.3M-93.7%	$498.9M	N/A	N/A	N/A
Dividends Paid	$88.6M	$74.8M+100.2%	$37.4M-7.9%	$40.6M-17.8%	$49.4M+88.8%	$26.2M+36.5%	$19.2M+5.2%	$18.2M+3.6%	$17.6M+5.4%	$16.7M+46.8%	$11.4M+658.3%	$1.5M+847.8%	$158K	$0

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$19.7M+145.8%	$24.2M+129.7%	$14.4M+35.4%	$52.1M+139.4%	$8.0M-53.6%	$10.6M-26.8%	$10.6M+136.8%	$21.7M-7.1%
Depreciation & Amortization	$19.8M+14.1%	$20.0M+20.0%	$20.0M+37.3%	$19.2M+36.5%	$17.3M+25.3%	$16.7M+22.2%	$14.6M-0.5%	$14.1M-7.3%
Stock-Based Compensation	N/A	$2.8M+123.2%	N/A	N/A	N/A	$1.2M+9.8%	N/A	N/A
Investing Cash Flow	-$32.3M+80.5%	-$16.0M+77.2%	-$29.7M+70.5%	-$115.6M-72.2%	-$165.1M-1213.8%	-$70.3M-11445.0%	-$100.6M-3019.6%	-$67.1M-356.5%
Financing Cash Flow	$13.4M-91.6%	-$23.2M-133.0%	$20.3M-73.1%	$74.8M+55.0%	$159.7M+1998.0%	$70.4M+439.8%	$75.7M+833.1%	$48.2M+781.8%
Dividends Paid	$22.3M+13.7%	$21.8M+102.4%	$22.2M+107.5%	$22.2M+148.3%	$19.6M+120.0%	$10.8M+22.5%	$10.7M+22.9%	$9.0M+6.1%

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

SMA 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.

SMA 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
Gross Margin	61.4%-4.3pp	65.7%-2.3pp	68.0%-1.1pp	69.2%	N/A	N/A	N/A	68.6%+0.8pp	67.8%+3.0pp	64.8%+2.5pp	62.3%-1.7pp	64.0%	N/A
Operating Margin	21.0%-8.2pp	29.2%-1.1pp	30.3%-0.7pp	31.0%+21.2pp	9.8%+26.8pp	-17.1%-27.6pp	10.6%-9.5pp	20.1%+15.4pp	4.7%+37.5pp	-32.8%-4.5pp	-28.3%	-485.0%	N/A
Net Margin	-0.6%+1.9pp	-2.5%-7.5pp	5.0%-5.2pp	10.2%+21.8pp	-11.6%+29.7pp	-41.3%-18.4pp	-22.9%-18.3pp	-4.6%+15.1pp	-19.7%+37.8pp	-57.5%-7.6pp	-49.9%	-515.0%	N/A
Return on Equity	-0.1%+1.7pp	-1.8%-4.7pp	2.9%-1.8pp	4.6%+10.3pp	-5.7%+22.2pp	-28.0%-18.8pp	-9.2%-8.1pp	-1.1%+2.9pp	-4.0%+2.4pp	-6.4%-1.0pp	-5.4%+15.8pp	-21.2%-21.2pp	0.0%
Return on Assets	-0.1%+0.2pp	-0.3%-0.9pp	0.6%-0.5pp	1.1%+2.3pp	-1.2%+2.8pp	-4.0%-2.1pp	-1.9%-1.4pp	-0.5%+1.4pp	-1.8%+1.6pp	-3.5%+1.1pp	-4.6%+2.2pp	-6.8%-6.8pp	0.0%
Debt-to-Equity	0.98-3.2x	4.21+1.4x	2.80+0.4x	2.38-1.3x	3.72-2.3x	6.00+3.2x	2.83+1.6x	1.21+0.1x	1.08+0.3x	0.78+0.6x	0.14-1.5x	1.64-198.4x	200.00
Asset Turnover	0.120.0x	0.120.0x	0.120.0x	0.110.0x	0.100.0x	0.100.0x	0.080.0x	0.100.0x	0.090.0x	0.060.0x	0.09+0.1x	0.010.0x	0.00

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	60.1%+0.8pp	57.3%-6.8pp	61.2%-5.1pp	60.9%-4.0pp	59.3%-7.2pp	64.1%-1.0pp	66.3%	64.8%
Operating Margin	22.6%+7.2pp	20.7%-5.6pp	24.0%-5.4pp	18.1%-11.3pp	15.4%-14.5pp	26.3%-1.7pp	29.4%-0.1pp	29.4%-1.5pp
Net Margin	14.2%+26.7pp	12.2%+25.1pp	12.5%+8.1pp	7.4%+17.8pp	-12.5%-11.3pp	-12.8%-10.0pp	4.4%+0.3pp	-10.3%-15.4pp
Return on Equity	1.0%+1.7pp	0.8%+3.6pp	0.8%0.0pp	0.4%+2.2pp	-0.7%-0.5pp	-2.8%-2.3pp	0.8%+0.2pp	-1.8%-2.5pp
Return on Assets	0.5%+0.8pp	0.4%+0.8pp	0.4%+0.3pp	0.2%+0.5pp	-0.4%-0.3pp	-0.4%-0.3pp	0.1%0.0pp	-0.3%-0.5pp
Debt-to-Equity	0.97+0.2x	0.94-3.9x	0.98-3.2x	0.92-2.7x	0.82-2.4x	4.83+1.9x	4.21+1.4x	3.64+1.0x
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x

Not reported in any period shown, so not listed: 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
SmartStop Self Storage REIT, Inc. SMA	FY2025	$281.1M	-$1.7M	-0.6%	$1.8B	34/100
LXP Industrial Trust LXP	FY2025	$350.2M	$113.2M	32.3%	$3.6B	37/100
Americold Realty Trust, Inc. COLD	FY2025	$2.6B	-$115.3M	-4.4%	$4.2B	32/100
National Storage Affiliates Trust NSA	FY2025	$752.9M	$73.8M	9.8%	$3.4B	31/100
Terreno Realty Corporation TRNO	FY2025	$476.4M	$403.0M	84.6%	$7.1B	51/100
STAG INDUSTRIAL, INC. STAG	FY2025	$845.2M	$273.5M	32.4%	$7.2B	54/100

Where SmartStop Self Storage REIT, Inc. Ranks

Frequently Asked Questions

What is SmartStop Self Storage REIT, Inc.'s annual revenue?

SmartStop Self Storage REIT, Inc. (SMA) reported $281.1M in total revenue for fiscal year 2025. This represents a 18.6% 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 SmartStop Self Storage REIT, Inc.'s revenue growing?

SmartStop Self Storage REIT, Inc. (SMA) revenue grew by 18.6% year-over-year, from $237.0M to $281.1M in fiscal year 2025.

Is SmartStop Self Storage REIT, Inc. profitable?

No, SmartStop Self Storage REIT, Inc. (SMA) reported a net income of -$1.7M in fiscal year 2025, with a net profit margin of -0.6%.

What is SmartStop Self Storage REIT, Inc.'s EBITDA?

SmartStop Self Storage REIT, Inc. (SMA) had EBITDA of $132.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is SmartStop Self Storage REIT, Inc.'s gross margin?

SmartStop Self Storage REIT, Inc. (SMA) had a gross margin of 61.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is SmartStop Self Storage REIT, Inc.'s operating margin?

SmartStop Self Storage REIT, Inc. (SMA) had an operating margin of 21.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is SmartStop Self Storage REIT, Inc.'s net profit margin?

SmartStop Self Storage REIT, Inc. (SMA) had a net profit margin of -0.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is SmartStop Self Storage REIT, Inc.'s return on equity (ROE)?

SmartStop Self Storage REIT, Inc. (SMA) has a return on equity of -0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is SmartStop Self Storage REIT, Inc.'s operating cash flow?

SmartStop Self Storage REIT, Inc. (SMA) generated $85.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are SmartStop Self Storage REIT, Inc.'s total assets?

SmartStop Self Storage REIT, Inc. (SMA) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does SmartStop Self Storage REIT, Inc. have outstanding?

SmartStop Self Storage REIT, Inc. (SMA) had 55M shares outstanding as of fiscal year 2025.

What is SmartStop Self Storage REIT, Inc.'s debt-to-equity ratio?

SmartStop Self Storage REIT, Inc. (SMA) had a debt-to-equity ratio of 0.98 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is SmartStop Self Storage REIT, Inc.'s return on assets (ROA)?

SmartStop Self Storage REIT, Inc. (SMA) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is SmartStop Self Storage REIT, Inc.'s P/E ratio?

SmartStop Self Storage REIT, Inc. (SMA) trades at 49.6x earnings, its market capitalization divided by net income of $35.9M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is SmartStop Self Storage REIT, Inc.'s price-to-sales ratio?

SmartStop Self Storage REIT, Inc. (SMA) trades at 5.8x sales, its market capitalization divided by revenue of $306.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is SmartStop Self Storage REIT, Inc.'s Piotroski F-Score?

SmartStop Self Storage REIT, Inc. (SMA) has a Piotroski F-Score of 3 out of 6 computable signals; 3 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 SmartStop Self Storage REIT, Inc.'s earnings high quality?

SmartStop Self Storage REIT, Inc. (SMA) reported a net loss of $1.7M while generating $85.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.

Can SmartStop Self Storage REIT, Inc. cover its interest payments?

SmartStop Self Storage REIT, Inc. (SMA) has an interest coverage ratio of 0.99x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is SmartStop Self Storage REIT, Inc.?

SmartStop Self Storage REIT, Inc. (SMA) scores 34 out of 100 on our Financial Health Score, indicating weak 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.