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CubeSmart

CUBE Clue Score60
United States Fiscal year ends December CIK 0001298675
$37.97 +1.23% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $37.97 −22.65% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income143.0Net income87.9EPS, diluted0.45Fiscal year 2017Revenue558.9Operating income195.7Net income134.3 +52.8%EPS, diluted0.74 +64.4%Fiscal year 2018Revenue597.9 +7.0%Net income163.9 +22.0%EPS, diluted0.88 +18.9%Fiscal year 2019Revenue643.9 +7.7%Net income170.8 +4.2%EPS, diluted0.88 +0.0%Fiscal year 2020Revenue679.2 +5.5%Net income167.6 −1.9%EPS, diluted0.85 −3.4%Fiscal year 2021Revenue822.6 +21.1%Net income230.8 +37.7%EPS, diluted1.09 +28.2%Fiscal year 2022Revenue1,009.6 +22.7%Net income292.5 +26.7%EPS, diluted1.29 +18.3%Fiscal year 2023Revenue1,050.3 +4.0%Net income412.4 +41.0%EPS, diluted1.82 +41.1%Fiscal year 2024Revenue1,066.2 +1.5%Net income391.9 −5.0%EPS, diluted1.72 −5.5%Fiscal year 2025Revenue1,123.1 +5.3%Net income331.3 −15.5%EPS, diluted1.46 −15.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 558.9 597.9 643.9 679.2 822.6 1,009.6 1,050.3 1,066.2 1,123.1
Growth +7.0% +7.7% +5.5% +21.1% +22.7% +4.0% +1.5% +5.3%
Operating income 143.0 195.7 n/a n/a n/a n/a n/a n/a n/a n/a
Net income 87.9 134.3 163.9 170.8 167.6 230.8 292.5 412.4 391.9 331.3
Growth +52.8% +22.0% +4.2% −1.9% +37.7% +26.7% +41.0% −5.0% −15.5%
EPS, diluted 0.45 0.74 0.88 0.88 0.85 1.09 1.29 1.82 1.72 1.46
Growth +64.4% +18.9% +0.0% −3.4% +28.2% +18.3% +41.1% −5.5% −15.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Fiscal year 2017Operating margin35.0%Net margin24.0%Free cash flow margin37.8%Fiscal year 2018Net margin27.4%Free cash flow margin12.8%Fiscal year 2019Net margin26.5%Free cash flow margin33.2%Fiscal year 2020Net margin24.7%Fiscal year 2021Net margin28.1%Fiscal year 2022Net margin29.0%Fiscal year 2023Net margin39.3%Fiscal year 2024Net margin36.8%Fiscal year 2025Net margin29.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a 35.0% n/a n/a n/a n/a n/a n/a n/a n/a
Net margin n/a 24.0% 27.4% 26.5% 24.7% 28.1% 29.0% 39.3% 36.8% 29.5%
Free cash flow margin n/a 37.8% 12.8% 33.2% n/a n/a n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow263.3Dividends paid−149.3Fiscal year 2017Operating cash flow291.9Capital expenditure−80.7Free cash flow211.3Dividends paid−195.0Fiscal year 2018Operating cash flow304.3Capital expenditure−227.5Free cash flow76.8 −63.6%Dividends paid−221.3Fiscal year 2019Operating cash flow331.8Capital expenditure−118.3Free cash flow213.5 +177.9%Dividends paid−243.9Fiscal year 2020Operating cash flow351.0Dividends paid−256.3Fiscal year 2021Operating cash flow449.2Dividends paid−273.8Fiscal year 2022Operating cash flow591.5Dividends paid−387.1Fiscal year 2023Operating cash flow611.1Dividends paid−442.2Fiscal year 2024Operating cash flow631.1Dividends paid−461.8Fiscal year 2025Operating cash flow608.5Buybacks−31.9Dividends paid−476.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 263.3 291.9 304.3 331.8 351.0 449.2 591.5 611.1 631.1 608.5
Capital expenditure n/a −80.7 −227.5 −118.3 n/a n/a n/a n/a n/a n/a
Free cash flow n/a 211.3 76.8 213.5 n/a n/a n/a n/a n/a n/a
Growth −63.6% +177.9%
Buybacks n/a n/a n/a n/a n/a n/a n/a n/a n/a −31.9
Dividends paid −149.3 −195.0 −221.3 −243.9 −256.3 −273.8 −387.1 −442.2 −461.8 −476.3

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash3.0Shareholders’ equity1,655.4Fiscal year 2017Cash5.3Shareholders’ equity1,629.1Fiscal year 2018Cash3.8Shareholders’ equity1,709.7Fiscal year 2019Cash54.9Shareholders’ equity1,799.3Fiscal year 2020Cash3.6Shareholders’ equity1,832.2Fiscal year 2021Cash11.1Shareholders’ equity2,871.6Fiscal year 2022Cash6.1Shareholders’ equity2,826.2Fiscal year 2023Cash6.5Shareholders’ equity2,798.8Fiscal year 2024Cash71.6Shareholders’ equity2,871.9Fiscal year 2025Cash5.8Shareholders’ equity2,719.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 3.0 5.3 3.8 54.9 3.6 11.1 6.1 6.5 71.6 5.8
Shareholders’ equity 1,655.4 1,629.1 1,709.7 1,799.3 1,832.2 2,871.6 2,826.2 2,798.8 2,871.9 2,719.4

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
n/a 35.0% n/a n/a n/a n/a n/a n/a n/a n/a
n/a 24.0% 27.4% 26.5% 24.7% 28.1% 29.0% 39.3% 36.8% 29.5%
n/a 37.8% 12.8% 33.2% n/a n/a n/a n/a n/a n/a
Spending
n/a 6.2% 6.3% 6.0% 6.1% 5.8% 5.4% 5.4% 5.6% 5.8%
n/a 14.4% 38.1% 18.4% n/a n/a n/a n/a n/a n/a
Returns
5.3% 8.2% 9.6% 9.5% 9.1% 8.0% 10.3% 14.7% 13.6% 12.2%
2.5% 3.8% 4.4% 4.2% 3.5% 3.5% 4.6% 6.6% 6.1% 5.0%
Balance and payout
50.6% 52.3% 52.8% 53.6% 56.3% 54.2% 54.2% 53.7% 53.8% 58.1%
169.8% 145.2% 135.0% 142.8% 152.9% 118.6% 132.4% 107.2% 117.8% 143.8%
n/a 92.3% 288.1% 114.2% n/a n/a n/a n/a n/a n/a