CUBE
$39.35+2.00%
CubeSmartStock · Real EstateUS REITs · 0.5% of VNQRussell 1000 · 0.01% of IWBUS Stock Market · 0.01% of VTIRussell 3000 · 0.01% of IWV
CUBE financial statements
The full income statement, balance sheet, and cash-flow statement for CubeSmart (CUBE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 225.2M2024-09 226.2M2024-12 227.9M2025-03 228.0M2025-06 228.0M2025-09 228.0M2025-12 227.1M2026-03 226.4M2026-06 225.5M+0.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.12B+5.3% | 1.07B+1.5% | 1.05B+4.0% | 1.01B+22.7% | 823M+21.1% | ||
| Lease income | 957M+5.0% | 911M-0.1% | 912M+3.7% | 879M+24.2% | 708M+21.8% | |
| Cost of revenue | 351M+10.6% | 318M+7.8% | 295M+0.5% | 293M+16.3% | 252M+12.7% | |
| Selling, general & administrative | 64.7M+8.4% | 59.7M+4.6% | 57.0M+4.4% | 54.6M+14.3% | 47.8M+15.4% | |
| General & administrative | 64.7M+8.4% | 59.7M+4.6% | 57.0M+4.4% | 54.6M+14.3% | 47.8M+15.4% | |
| Other non-operating income | 2.72M+135.0% | 1.16M-81.6% | 6.28M+160.7% | -10.4M+4.3% | -10.8M-4407.5% | |
| Equity-method income | 2.46M-1.6% | 2.50M-58.9% | 6.08M-87.6% | 48.9M+93.4% | 25.3M+14099.4% | |
| 331M-15.5% | 392M-5.0% | 412M+41.0% | 292M+26.7% | 231M+37.7% | ||
| Net income to common | 334M-14.7% | 391M-4.8% | 411M+41.0% | 291M+30.3% | 223M+34.9% | |
| $1.46-15.1% | $1.72-5.5% | $1.82+41.1% | $1.29+18.3% | $1.09+28.2% | ||
| EPS (basic) | $1.46-15.6% | $1.73-4.9% | $1.82+41.1% | $1.29+17.3% | $1.10+29.4% | |
| Weighted-avg shares (basic) | 229M+1.0% | 226M+0.4% | 225M+0.2% | 225M+10.3% | 204M+5.0% | |
| Weighted-avg shares (diluted) | 229M+0.9% | 227M+0.4% | 226M+0.2% | 226M+10.2% | 205M+5.2% | |
| Dividends per share | $2.09+2.0% | $2.05+3.5% | $1.98+11.2% | $1.78+22.8% | $1.45+9.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 5.78M-91.9% | 71.6M+996.5% | 6.53M+7.6% | 6.06M-45.6% | 11.1M+210.1% | |
| 6.64B+3.9% | 6.39B+2.7% | 6.23B-1.6% | 6.33B-3.4% | 6.55B+37.0% | ||
| Operating lease right-of-use | 48.4M-2.1% | 49.4M-2.1% | 50.5M+2.0% | 49.5M-9.6% | 54.7M-1.0% | |
| Intangible assets | 7.79M-24.6% | 10.3M+472.1% | 1.81M+52.9% | 1.18M-98.9% | 109M+88.2% | |
| 3.86B+12.2% | 3.44B+2.9% | 3.34B-2.4% | 3.43B-3.4% | 3.55B+32.1% | ||
| Operating lease liability (total) | 49.6M-0.7% | 50.0M-0.7% | 50.3M+3.4% | 48.7M-9.9% | 54.0M+0.8% | |
| Finance lease liability (total) | 65.6M-0.1% | 65.7M-0.1% | 65.7M-0.1% | 65.8M-0.1% | 65.8M+0.3% | |
| 2.72B-5.3% | 2.87B+2.6% | 2.80B-1.0% | 2.83B-1.6% | 2.87B+56.7% | ||
| Common stock | 2.27M-0.2% | 2.28M+1.3% | 2.25M+0.1% | 2.25M+0.3% | 2.24M+13.4% | |
| Additional paid-in capital | 4.30B+0.4% | 4.29B+3.5% | 4.14B+0.4% | 4.13B+0.9% | 4.09B+45.7% | |
| Retained earnings | -1.59B-12.0% | -1.42B-5.2% | -1.35B-3.4% | -1.30B-6.8% | -1.22B-25.0% | |
| Accumulated other comprehensive income | -249K+24.5% | -330K+19.7% | -411K+16.3% | -491K+13.9% | -570K+9.8% | |
| Non-controlling interest | 26.5M-14.1% | 30.8M+42.0% | 21.7M+53.1% | 14.2M-23.8% | 18.6M+115.4% | |
| Total equity incl. non-controlling | 2.75B-5.4% | 2.90B+2.9% | 2.82B-0.7% | 2.84B-1.7% | 2.89B+57.0% | |
| Total liabilities & equity | 6.64B+3.9% | 6.39B+2.7% | 6.23B-1.6% | 6.33B-3.4% | 6.55B+37.0% | |
| Common shares issued | 227M-0.2% | 228M+1.3% | 225M+0.1% | 225M+0.3% | 224M+13.4% | |
| Common shares outstanding | 227M-0.2% | 228M+1.3% | 225M+0.1% | 225M+0.3% | 224M+13.4% | |
| Shares outstanding (cover) | 227M-0.3% | 228M+1.3% | 225M+0.1% | 225M+0.3% | 224M+12.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 609M-3.6% | 631M+3.3% | 611M+3.3% | 591M+31.7% | 449M+28.0% | ||
| Depreciation & amortization | 263M+25.4% | 210M+2.1% | 205M-34.7% | 315M+35.5% | 232M+48.2% | |
| Share-based compensation | 11.5M+0.5% | 11.5M+13.9% | 10.1M+11.1% | 9.08M+12.3% | 8.09M+13.3% | |
| -571M-228.4% | -174M-85.4% | -93.8M-92.4% | -48.8M+97.4% | -1.85B-262.2% | ||
| Capital expenditure | 49.7M+17.7% | 42.2M+88.1% | 22.4M-74.8% | 89.0M-41.3% | 152M-63.7% | |
| Free cash flow | 559M-5.1% | 589M+0.0% | 589M+17.2% | 502M+68.8% | 298M+544.5% | |
| Acquisitions | 0.00-100.0% | 57.2M | 0.00 | 0.00-100.0% | 1.68B | |
| -105M+73.0% | -388M+25.2% | -518M+5.3% | -547M-138.8% | 1.41B+1203.7% | ||
| Long-term debt issued | 444M | 0.00 | 0.00 | 0.00-100.0% | 1.04B+134.0% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | -452K-100.4% | 118M+42951.4% | -276K-105.7% | 4.88M-99.5% | 966M+699.9% | |
| Common stock repurchased | 31.9M | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 476M+3.1% | 462M+4.4% | 442M+14.2% | 387M+41.4% | 274M+6.9% | |
| Net change in cash | -67.4M-197.1% | 69.4M+9908.8% | -708K+83.9% | -4.39M-162.0% | 7.09M+113.6% | |
| Interest paid | 107M+15.4% | 92.6M-3.0% | 95.5M+3.5% | 92.3M+16.6% | 79.1M-2.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 8.19B-16.2% | 9.76B-6.3% | 10.4B+15.3% | 9.04B-29.1% | 12.7B+89.9% | |
| P/E | 24.7×-0.8% | 24.9×-8.8% | 27.3×-22.4% | 35.2×-36.3% | 55.2×+37.9% | |
| P/S | 7.3×-20.4% | 9.2×-8.1% | 10.0×+7.0% | 9.3×-39.9% | 15.5×+56.8% | |
| P/B | 3.0×-11.5% | 3.4×-8.4% | 3.7×+17.1% | 3.2×-28.6% | 4.4×+21.2% | |
| P/FCF | 14.6×-11.7% | 16.6×-20.1% | 20.7×-13.3% | 23.9×-44.1% | 42.8× | |
| Earnings yield | 4.0%+0.8% | 4.0%+9.6% | 3.7%+28.8% | 2.8%+56.9% | 1.8%-27.5% | |
| FCF yield | 6.8%+13.2% | 6.0%+25.1% | 4.8%+15.4% | 4.2%+78.9% | 2.3% | |
| Dividend yield | 5.8%+21.2% | 4.8%+12.0% | 4.3%-3.4% | 4.4%+73.6% | 2.5%-35.6% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: CUBE’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all CUBE filings on SEC EDGAR → Not investment advice.