CUBE
CubeSmart
NYSE: CUBE · REAL ESTATE · REIT - INDUSTRIAL
$39.71
+0.28% today
Updated 2026-04-29
Market cap
$9.07B
P/E ratio
27.12
P/S ratio
8.06x
EPS (TTM)
$1.46
Dividend yield
5.35%
52W range
$34 – $42
Volume
2.4M
CubeSmart (CUBE) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $213.11M | $229.17M | $236.40M | $217.29M | $216.83M | $237.60M | $283.08M | $318.39M | $376.96M | $444.52M | $510.04M | $558.94M | $597.94M | $655.04M | $679.36M | $822.56M | $1.01B | $1.05B | $1.07B | $1.12B |
| Revenue growth (YoY) | — | +7.5% | +3.2% | -8.1% | -0.2% | +9.6% | +19.1% | +12.5% | +18.4% | +17.9% | +14.7% | +9.6% | +7.0% | +9.5% | +3.7% | +21.1% | +22.7% | +4.0% | +1.5% | +5.3% |
| Cost of revenue | $69000.00 | $59000.00 | $99.18M | $93.94M | $93.70M | $99.16M | $110.82M | $118.22M | $132.70M | $153.17M | $165.85M | $181.51M | $196.87M | $198.24M | $206.73M | $252.10M | $293.26M | $294.78M | $317.75M | $867.71M |
| Gross profit | $213.04M | $229.11M | $137.22M | $123.34M | $123.13M | $138.44M | $172.25M | $200.17M | $244.26M | $291.35M | $344.19M | $377.44M | $401.08M | $456.80M | $472.62M | $570.46M | $716.36M | $755.55M | $748.48M | $255.40M |
| Gross margin | 100.0% | 100.0% | 58.0% | 56.8% | 56.8% | 58.3% | 60.9% | 62.9% | 64.8% | 65.5% | 67.5% | 67.5% | 67.1% | 69.7% | 69.6% | 69.4% | 71.0% | 71.9% | 70.2% | 22.7% |
| R&D | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $22.29M | $21.97M | $24.96M | $22.57M | $25.41M | $24.69M | $26.13M | $29.56M | $28.42M | $28.37M | $32.82M | $34.74M | $37.71M | $38.56M | $41.42M | $47.81M | $54.62M | $57.04M | $59.66M | $64.66M |
| Operating income | $39.17M | $38.49M | $34.67M | $29.94M | $34.78M | $45.53M | $32.25M | $58.30M | $81.54M | $107.89M | $142.95M | $195.72M | $220.02M | $406.74M | $414.30M | $290.60M | $351.13M | $497.27M | $483.12M | $448.90M |
| Operating margin | 18.4% | 16.8% | 14.7% | 13.8% | 16.0% | 19.2% | 11.4% | 18.3% | 21.6% | 24.3% | 28.0% | 35.0% | 36.8% | 62.1% | 61.0% | 35.3% | 34.8% | 47.3% | 45.3% | 40.0% |
| EBITDA | $105.17M | $110.71M | $112.25M | $100.78M | $97.72M | $113.75M | $146.12M | $170.61M | $208.36M | $260.01M | $306.97M | $339.54M | $363.47M | $406.74M | $414.30M | $522.65M | $661.74M | $710.88M | $688.82M | $703.57M |
| EBITDA margin | 49.4% | 48.3% | 47.5% | 46.4% | 45.1% | 47.9% | 51.6% | 53.6% | 55.3% | 58.5% | 60.2% | 60.7% | 60.8% | 62.1% | 61.0% | 63.5% | 65.5% | 67.7% | 64.6% | 62.6% |
| EBIT | $38.45M | $38.49M | $34.67M | $29.94M | $34.78M | $45.53M | $32.25M | $53.54M | $79.35M | $108.23M | $-60.54M | $-24.10M | $-16.68M | $243.19M | $257.73M | $290.60M | $351.13M | $505.50M | $483.12M | $445.42M |
| Interest expense | $46.13M | $55.88M | $52.01M | $47.61M | $44.26M | $38.23M | $40.72M | $40.42M | $46.80M | $43.74M | $50.40M | $56.95M | $62.13M | $72.53M | $75.89M | $78.45M | $93.28M | $97.29M | $90.82M | $114.10M |
| Income tax | $49.63M | — | $83.90M | $30.88M | $42.17M | $45.65M | $37.14M | $8.24M | $40.13M | $44.14M | $49.27M | $57.76M | $7.60M | $86.72M | $77.82M | $100.24M | $93.28M | $1.68M | $391.18M | — |
| Effective tax rate | 120.8% | 0.0% | 96.8% | 103.1% | 121.3% | 100.9% | 95.3% | 16.6% | 60.3% | 36.2% | 35.9% | 30.1% | 4.4% | 33.9% | 32.0% | 31.0% | 24.3% | 0.4% | 50.0% | 0.0% |
| Net income | $-8.55M | $-13.08M | $2.79M | $-937000.00 | $-7.39M | $-398000.00 | $1.82M | $41.45M | $26.38M | $77.71M | $87.91M | $134.29M | $163.89M | $169.12M | $165.62M | $223.48M | $291.26M | $410.76M | $391.18M | $333.78M |
| Net income growth (YoY) | — | -52.9% | +121.4% | -133.6% | -689.0% | +94.6% | +556.5% | +2181.1% | -36.4% | +194.6% | +13.1% | +52.8% | +22.0% | +3.2% | -2.1% | +34.9% | +30.3% | +41.0% | -4.8% | -14.7% |
| Profit margin | -4.0% | -5.7% | 1.2% | -0.4% | -3.4% | -0.2% | 0.6% | 13.0% | 7.0% | 17.5% | 17.2% | 24.0% | 27.4% | 25.8% | 24.4% | 27.2% | 28.8% | 39.1% | 36.7% | 29.7% |