Smartstop Self S Financials

STSFF

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Smartstop Self S (STSFF) financial statements, including the 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 STSFF FY2025 2026-04-22

STSFF’s results are driven less by reported earnings than by asset-heavy cash flow and a deleveraging balance-sheet reset.

Across FY2023-FY2025, operating cash flow remained positive while net income remained negative, showing that large depreciation charges are a bigger driver of reported losses than day-to-day cash generation. The more important FY2025 shift is balance-sheet repair: debt-to-equity fell to 1.0x from 4.2x, and lower interest expense helped narrow the loss even as operating margin slipped.

FY2025 dividends paid of $74.8M consumed most of operating cash flow of $85.0M, leaving little internally generated cash for reinvestment. That helps explain why the far larger investing outflow was paired with heavy financing inflows: the business is still funding expansion with outside capital, not just with what operations throw off.

FY2025 revenue reached $281.1M but gross margin compressed to 61.4%, and SG&A also climbed, which means higher volume did not translate into better core economics. Because EBITDA stayed relatively steady, the pressure looks more like a squeeze from operating costs and mix than a collapse in cash earning capacity.

Financial Health Signals

Financial health score pending refresh

We are recalculating Smartstop Self S's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

3/6

Smartstop Self S 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

-48.92x

For every $1 of reported earnings, Smartstop Self S generates $-48.92 in operating cash flow ($85.0M OCF vs -$1.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

1.0x

Smartstop Self S earns $1.0 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

$281.1M

YoY+18.6%

5Y CAGR+17.8%

10Y CAGR+31.7%

Smartstop Self S generated $281.1M in revenue in fiscal year 2025. This represents an increase of 18.6% from the prior year.

EBITDA

$132.3M

YoY+5.6%

5Y CAGR+44.6%

10Y CAGR+41.8%

Smartstop Self S's EBITDA was $132.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.6% from the prior year.

Net Income

-$1.7M

YoY+70.5%

Smartstop Self S reported -$1.7M in net income in fiscal year 2025. This represents an increase of 70.5% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$54.2M

YoY+134.6%

5Y CAGR-5.7%

10Y CAGR+6.8%

Smartstop Self S held $54.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

55M

Smartstop Self S had 55M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

61.4%

YoY-4.3pp

10Y CAGR-0.9pp

Smartstop Self S's gross margin was 61.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.3 percentage points from the prior year.

Operating Margin

21.0%

YoY-8.2pp

5Y CAGR+38.1pp

10Y CAGR+49.4pp

Smartstop Self S's operating margin was 21.0% in fiscal year 2025, reflecting core business profitability. This is down 8.2 percentage points from the prior year.

Net Margin

-0.6%

YoY+1.9pp

5Y CAGR+40.7pp

10Y CAGR+49.3pp

Smartstop Self S's net profit margin was -0.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.9 percentage points from the prior year.

Return on Equity

-0.1%

YoY+1.7pp

5Y CAGR+27.8pp

10Y CAGR+5.2pp

Smartstop Self S's ROE was -0.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

STSFF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$281.1M+18.6%	$237.0M+1.7%	$233.0M+9.6%	$212.6M+26.0%	$168.8M+36.1%	$124.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$172.5M+10.8%	$155.7M-1.8%	$158.5M+7.8%	$147.1M	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$38.2M+27.6%	$29.9M+9.1%	$27.5M-2.8%	$28.3M+21.4%	$23.3M+41.2%	$16.5M
Operating Income	$59.1M-14.6%	$69.2M-2.0%	$70.6M+7.2%	$65.9M+299.0%	$16.5M+178.1%	-$21.1M
Interest Expense	$59.9M-17.2%	$72.3M+17.0%	$61.8M+48.9%	$41.5M+24.3%	$33.4M-7.4%	$36.1M
Income Tax	$1.9M+28.1%	$1.5M+157.2%	-$2.6M-367.7%	-$555K+69.4%	-$1.8M+68.9%	-$5.8M
Net Income	-$1.7M+70.5%	-$5.9M-150.5%	$11.6M-46.3%	$21.7M+210.8%	-$19.6M+61.8%	-$51.2M
EPS (Diluted)	N/A	$-0.78-500.0%	$-0.13-150.0%	$0.26+170.3%	$-0.37+59.3%	$-0.91

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$78.3M-0.2%	$78.4M+11.4%	$70.4M+5.4%	$66.8M+2.1%	$65.4M+7.9%	$60.6M+0.8%	$60.2M+1.7%	$59.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$44.9M-6.5%	$48.0M+12.0%	$42.9M+8.2%	$39.6M-5.6%	$42.0M+4.4%	$40.2M+3.2%	$39.0M-0.8%	$39.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$9.1M+11.0%	$8.2M-21.1%	$10.4M-10.8%	$11.7M+49.0%	$7.8M+4.7%	$7.5M+4.0%	$7.2M-7.7%	$7.8M
Operating Income	$16.2M-13.8%	$18.8M+47.3%	$12.8M+24.5%	$10.3M-40.5%	$17.2M-3.4%	$17.8M+0.8%	$17.7M+0.1%	$17.7M
Interest Expense	$13.1M-1.4%	$13.3M+6.4%	$12.5M+4.1%	$12.0M-45.4%	$22.0M+13.7%	$19.4M+1.4%	$19.1M+10.5%	$17.3M
Income Tax	$331K-8.6%	$362K-41.1%	$615K+93.4%	$318K-47.5%	$606K+55.0%	$391K-3.2%	$404K+16.4%	$347K
Net Income	$9.6M+53.5%	$6.2M+19.4%	$5.2M+208.9%	-$4.8M+42.9%	-$8.4M-413.9%	$2.7M+143.1%	-$6.2M-782.3%	-$705K
EPS (Diluted)	N/A	N/A	$0.09+156.3%	$-0.16+54.3%	$-0.35	N/A	$-0.26-62.5%	$-0.16

STSFF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.4B+19.1%	$2.0B+7.7%	$1.9B-2.6%	$1.9B+20.3%	$1.6B+26.2%	$1.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$54.2M+134.6%	$23.1M-48.7%	$45.1M+14.2%	$39.5M+6.0%	$37.3M-48.8%	$72.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$70.0M+30.4%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M
Total Liabilities	$1.2B-16.0%	$1.4B+21.1%	$1.1B+1.8%	$1.1B-12.8%	$1.3B+16.1%	$1.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	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
Retained Earnings	-$194.4M-4.7%	-$185.6M-11.0%	-$167.3M-1.7%	-$164.5M+3.7%	-$170.8M-20.8%	-$141.4M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$2.4B-0.4%	$2.4B+1.7%	$2.4B+3.8%	$2.3B+8.9%	$2.1B+3.5%	$2.0B+5.4%	$1.9B+3.2%	$1.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$38.2M-29.5%	$54.2M+13.4%	$47.8M+26.7%	$37.7M+7.2%	$35.2M+52.2%	$23.1M-37.0%	$36.7M+5.8%	$34.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$400K+100.0%	$200K0.0%	$200K	N/A	N/A	N/A
Goodwill	$70.0M0.0%	$70.0M+30.4%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M0.0%	$53.6M
Total Liabilities	$1.2B0.0%	$1.2B+4.6%	$1.1B+10.2%	$1.0B-31.7%	$1.5B+6.8%	$1.4B+9.6%	$1.3B+7.7%	$1.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.1B	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.2B-1.1%	$1.2B-1.8%	$1.2B-1.2%	$1.2B+301.6%	$303.0M-7.0%	$325.7M-5.3%	$343.9M-6.0%	$365.8M
Retained Earnings	-$184.8M+4.9%	-$194.4M+1.4%	-$197.2M+2.6%	-$202.4M-4.3%	-$194.1M-4.5%	-$185.6M-2.0%	-$182.0M-3.5%	-$175.7M

STSFF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$85.0M+32.7%	$64.0M-12.5%	$73.2M-16.7%	$87.9M+49.6%	$58.8M+119.5%	$26.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$380.8M-110.4%	-$180.9M-69160.3%	$262K+100.1%	-$205.2M-70.7%	-$120.2M-315.1%	-$29.0M
Financing Cash Flow	$325.2M+243.0%	$94.8M+243.4%	-$66.1M-155.1%	$120.1M+367.6%	$25.7M+86.9%	$13.7M
Dividends Paid	$74.8M+100.2%	$37.4M-7.9%	$40.6M-17.8%	$49.4M+88.8%	$26.2M+36.5%	$19.2M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$24.2M+68.8%	$14.4M-72.4%	$52.1M+550.3%	$8.0M-24.1%	$10.6M-0.5%	$10.6M-51.2%	$21.7M+26.0%	$17.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$16.0M+46.1%	-$29.7M+74.3%	-$115.6M+30.0%	-$165.1M-134.9%	-$70.3M+30.1%	-$100.6M-49.9%	-$67.1M-434.0%	-$12.6M
Financing Cash Flow	-$23.2M-214.2%	$20.3M-72.8%	$74.8M-53.2%	$159.7M+127.0%	$70.4M-7.0%	$75.7M+56.9%	$48.2M+673.2%	-$8.4M
Dividends Paid	$21.8M-1.6%	$22.2M-0.2%	$22.2M+13.2%	$19.6M+82.1%	$10.8M+0.9%	$10.7M+19.5%	$9.0M+0.3%	$8.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

STSFF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	61.4%-4.3pp	65.7%-2.3pp	68.0%-1.1pp	69.2%	N/A	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%
Net Margin	-0.6%+1.9pp	-2.5%-7.5pp	5.0%-5.2pp	10.2%+21.8pp	-11.6%+29.7pp	-41.3%
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%
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%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.98-3.2	4.21+1.4	2.80+0.4	2.38-1.3	3.72-2.3	6.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	57.3%-3.9pp	61.2%+0.3pp	60.9%+1.6pp	59.3%-4.8pp	64.1%-2.2pp	66.3%+1.5pp	64.8%-1.6pp	66.5%
Operating Margin	20.7%-3.3pp	24.0%+5.8pp	18.1%+2.8pp	15.4%-11.0pp	26.3%-3.1pp	29.4%0.0pp	29.4%-0.5pp	29.9%
Net Margin	12.2%+4.3pp	8.0%+0.5pp	7.4%+14.6pp	-7.2%+5.7pp	-12.8%-17.3pp	4.4%+14.8pp	-10.3%-9.2pp	-1.2%
Return on Equity	0.8%+0.3pp	0.5%+0.1pp	0.4%+0.8pp	-0.4%+2.4pp	-2.8%-3.6pp	0.8%+2.6pp	-1.8%-1.6pp	-0.2%
Return on Assets	0.4%+0.1pp	0.3%+0.0pp	0.2%+0.4pp	-0.2%+0.2pp	-0.4%-0.5pp	0.1%+0.5pp	-0.3%-0.3pp	-0.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.94-0.0	0.98+0.1	0.92+0.1	0.82-4.0	4.83+0.6	4.21+0.6	3.64+0.5	3.17
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Smartstop Self S's annual revenue?

Smartstop Self S (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.

How fast is Smartstop Self S's revenue growing?

Smartstop Self S (STSFF) revenue grew by 18.6% year-over-year, from $237.0M to $281.1M in fiscal year 2025.

Is Smartstop Self S profitable?

No, Smartstop Self S (STSFF) reported a net income of -$1.7M in fiscal year 2025, with a net profit margin of -0.6%.

What is Smartstop Self S's EBITDA?

Smartstop Self S (STSFF) had EBITDA of $132.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Smartstop Self S's gross margin?

Smartstop Self S (STSFF) 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 S's operating margin?

Smartstop Self S (STSFF) 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 S's net profit margin?

Smartstop Self S (STSFF) 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 S's return on equity (ROE)?

Smartstop Self S (STSFF) 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 S's operating cash flow?

Smartstop Self S (STSFF) generated $85.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Smartstop Self S's total assets?

Smartstop Self S (STSFF) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Smartstop Self S have outstanding?

Smartstop Self S (STSFF) had 55M shares outstanding as of fiscal year 2025.

What is Smartstop Self S's debt-to-equity ratio?

Smartstop Self S (STSFF) 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 S's return on assets (ROA)?

Smartstop Self S (STSFF) 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 S's Piotroski F-Score?

Smartstop Self S (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.

Are Smartstop Self S's earnings high quality?

Smartstop Self S (STSFF) has an earnings quality ratio of -48.92x, considered mixed 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.

Can Smartstop Self S cover its interest payments?

Smartstop Self S (STSFF) has an interest coverage ratio of 1.0x, 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.