Smartstop Self Strge REIT (STSFF) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 8, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the STSFF SEC filings page.
Smartstop Self Strge REIT (STSFF) reported $294.0M in revenue over the twelve months to Mar 31, 2026, up 19.8% 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.
Revenue is expanding, but margin compression and heavier overhead leave cash generation doing more work than reported earnings.
From FY2022 to FY2025, revenue increased32.2% while operating income fell10.3% , indicating that incremental sales became less profitable rather than merely growing more slowly. In FY2025, operating cash flow of$84.97M alongside a net loss of$1.737M shows that non-cash charges and other operating adjustments supplied much of the cash despite weak bottom-line earnings.
The margin profile weakened at both layers: gross margin fell 7.8 percentage points from FY2022 to FY2025, while operating margin fell 10.0 percentage points. SG&A rose
The balance-sheet structure changed sharply in FY2025: total equity increased
Financial Health Signals
We do not publish a peer-relative financial health score for Smartstop Self Strge REIT, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Smartstop Self Strge REIT 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.
Smartstop Self Strge REIT 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.
Smartstop Self Strge REIT 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
Earnings & Revenue
Smartstop Self Strge REIT generated $78.3M in revenue in Q1 2026. This represents an increase of 19.7% from the same quarter a year earlier. Against the prior quarter it is down 0.2%.
Smartstop Self Strge REIT's EBITDA was $36.3M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.8% from the same quarter a year earlier. Against the prior quarter it is down 6.7%.
Smartstop Self Strge REIT reported $9.6M in net income in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is up 244.2%.
Not reported for Q1 2026.
Cash & Balance Sheet
Smartstop Self Strge REIT held $38.2M in cash against $1.1B in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Smartstop Self Strge REIT's gross margin was 57.3% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 6.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.9 percentage points.
Smartstop Self Strge REIT's operating margin was 20.7% in Q1 2026, reflecting core business profitability. This is down 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.3 percentage points.
Smartstop Self Strge REIT's net profit margin was 12.2% in Q1 2026, showing the share of revenue converted to profit. This is up 25.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.7 percentage points.
Smartstop Self Strge REIT's quarterly ROE was 0.8% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is up 3.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Capital Allocation
None of these metrics is reported for Q1 2026.
STSFF 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'25Filing | Q1'2510-Q | Q4'24Filing | Q3'2410-Q | Q2'24Filing |
|---|---|---|---|---|---|---|---|---|
| Revenue | $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% | $59.2M-0.7% |
| Gross Profit | $44.9M+6.9% | $48.0M+19.3% | $42.9M+9.9% | $39.6M+0.8% | $42.0M+13.0% | $40.2M | $39.0M | $39.3M |
| SG&A Expenses | $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% | $7.8M+8.8% |
| Operating Income | $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% | $17.7M-5.0% |
| EBITDA | $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% | $31.5M-6.9% |
| Interest Expense | $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% | $17.3M+16.0% |
| Income Tax | $331K-45.4% | $362K-7.4% | $615K+52.2% | $318K-8.4% | $606K+77.2% | $391Kn/m | $404Kn/m | $347Kn/m |
| Net Income | $9.6Mn/m | $2.8Mn/m | $5.2Mn/m | -$4.8Mn/m | -$8.4Mn/m | -$3.7M-256.7% | -$6.2M-308.8% | -$705K-116.5% |
| EPS (Basic) | N/A | N/A | $0.09 | -$0.16 | -$0.35 | N/A | -$0.26 | -$0.16 |
| EPS (Diluted) | N/A | N/A | $0.09 | -$0.16 | -$0.35 | N/A | -$0.26 | -$0.16 |
| Diluted Shares (Avg) | N/A | N/A | 55M | 54M | 24M | N/A | 24M | 24M |
Not reported in any period shown, so not listed: Cost of Revenue, R&D Expenses.
STSFF Balance Sheet
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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'25Filing | Q1'2510-Q | Q4'24Filing | Q3'2410-Q | Q2'24Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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% | $1.9B-0.9% |
| Cash & Equivalents | $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% | $34.7M+1.8% |
| Accounts Receivable | N/A | N/A | $400K | $200K | $200K | N/A | N/A | N/A |
| Goodwill | $70.0M+30.4% | $70.0M+30.4% | $53.6M0.0% | $53.6M0.0% | $53.6M0.0% | $53.6M0.0% | $53.6M0.0% | $53.6M0.0% |
| Total Liabilities | $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% | $1.2B+5.9% |
| Long-Term Debt | $1.1B | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $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% | $365.8M-16.4% |
| Retained Earnings | -$184.8Mn/m | -$194.4Mn/m | -$197.2Mn/m | -$202.4Mn/m | -$194.1Mn/m | -$185.6Mn/m | -$182.0Mn/m | -$175.7Mn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
STSFF Cash Flow 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'25Filing | Q1'2510-Q | Q4'24Filing | Q3'2410-Q | Q2'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $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% | $17.3M-41.3% |
| Depreciation & Amortization | $20.0M+20.0% | $20.0M+37.2% | $19.2M+36.5% | $17.3M+25.3% | $16.7M+22.2% | $14.6M-0.5% | $14.1M-7.3% | $13.8M-9.2% |
| Stock-Based Compensation | $2.8M+123.2% | N/A | N/A | N/A | $1.2M+9.8% | N/A | N/A | N/A |
| Investing Cash Flow | -$16.0Mn/m | -$29.7Mn/m | -$115.6Mn/m | -$165.1Mn/m | -$70.3Mn/m | -$100.6Mn/m | -$67.1Mn/m | -$12.6M-132.2% |
| Financing Cash Flow | -$23.2M-133.0% | $20.3M-73.1% | $74.8M+55.0% | $159.7Mn/m | $70.4Mn/m | $75.7M+833.1% | $48.2Mn/m | -$8.4Mn/m |
| Dividends Paid | $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% | $8.9M+1.8% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
STSFF 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'25Filing | Q1'2510-Q | Q4'24Filing | Q3'2410-Q | Q2'24Filing |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.3%-6.8pp | 61.2%-5.1pp | 60.9%-4.0pp | 59.3%-7.2pp | 64.1%-1.0pp | 66.3% | 64.8% | 66.5% |
| Operating Margin | 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 | 29.9%-1.4pp |
| Net Margin | 12.2%+25.1pp | 3.5%+9.6pp | 7.4%+17.8pp | -7.2%-6.0pp | -12.8%-10.0pp | -6.1%-10.2pp | -10.3%-15.4pp | -1.2%-8.4pp |
| Return on Equity | 0.8%+3.6pp | 0.2%+1.4pp | 0.4%+2.2pp | -0.4%-0.2pp | -2.8%-2.3pp | -1.1%-1.7pp | -1.8%-2.5pp | -0.2%-1.2pp |
| Return on Assets | 0.4%+0.8pp | 0.1%+0.3pp | 0.2%+0.5pp | -0.2%-0.2pp | -0.4%-0.3pp | -0.2%-0.3pp | -0.3%-0.5pp | 0.0%-0.3pp |
| Debt-to-Equity | 0.94 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Liabilities-to-Equity | 0.99-3.8x | 0.98-3.2x | 0.92-2.7x | 0.82-2.4x | 4.83+1.9x | 4.21+1.4x | 3.64+1.0x | 3.17+0.7x |
| 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.
Where Smartstop Self Strge REIT Ranks
Frequently Asked Questions
Smartstop Self Strge REIT (STSFF) 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.
Smartstop Self Strge REIT (STSFF) revenue grew by 18.6% year-over-year, from $237.0M to $281.1M in fiscal year 2025.
Yes, Smartstop Self Strge REIT (STSFF) reported a net income of $12.8M over the trailing 12 months to March 31, 2026. In fiscal year 2025 it reported a net loss of $1.7M, with a net profit margin of -0.6%.
Smartstop Self Strge REIT (STSFF) had EBITDA of $132.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Smartstop Self Strge REIT (STSFF) had a gross margin of 61.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Smartstop Self Strge REIT (STSFF) had an operating margin of 21.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Smartstop Self Strge REIT (STSFF) had a net profit margin of -0.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Smartstop Self Strge REIT (STSFF) has a return on equity of -0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Smartstop Self Strge REIT (STSFF) generated $85.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Smartstop Self Strge REIT (STSFF) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.
Smartstop Self Strge REIT (STSFF) had a liabilities-to-equity ratio of 0.98 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Smartstop Self Strge REIT (STSFF) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Smartstop Self Strge REIT (STSFF) 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.
Smartstop Self Strge REIT (STSFF) 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.
Smartstop Self Strge REIT (STSFF) 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.