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CubeSmart (CUBE)

NYSE Real Estate Industrial REITs S&P MidCap 400
$45.02
-0.35 (-0.77%)
Close of Nov 06, 2026 · end-of-day data
Source: CubeSmart's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 02, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$558.94M$597.94M$643.91M$679.18M$822.56M$1.01B$1.05B$1.07B$1.12B
Cost of revenue$181.51M$196.87M$209.74M$223.63M$252.10M$293.26M$294.78M$317.75M$351.40M
Gross profit$377.44M$401.08M$434.18M$455.54M$570.46M$716.36M$755.55M$748.48M$771.71M
Operating income$195.72M————————
Interest expense$56.95M$62.13M———————
Net income$134.29M$163.89M$169.12M$165.62M$223.48M$291.26M$410.76M$391.18M$333.78M
EBITDA$341.40M————————
EPS (basic)$0.74$0.89$0.89$0.85$1.10$1.29$1.82$1.73$1.46
EPS (diluted)$0.74$0.88$0.88$0.85$1.09$1.29$1.82$1.72$1.46
Diluted shares181.45M185.50M191.58M194.94M205.01M225.88M226.24M227.15M229.16M
Gross margin67.5%67.1%67.4%67.1%69.4%71.0%71.9%70.2%68.7%
Operating margin35.0%————————
Net margin24.0%27.4%26.3%24.4%27.2%28.8%39.1%36.7%29.7%

Balance sheet

fiscal years · USD
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$5.27M$3.76M$54.86M$3.59M$11.14M$6.06M$6.53M$71.56M$5.78M
Total assets$3.55B$3.75B$4.03B$4.78B$6.55B$6.33B$6.23B$6.39B$6.64B
Total liabilities$1.86B$1.98B$2.16B$2.69B$3.55B$3.43B$3.34B$3.44B$3.86B
Shareholders' equity$1.63B$1.71B$1.80B$1.83B$2.87B$2.83B$2.80B$2.87B$2.72B

Cash flow

fiscal years · USD
Fiscal yearFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$291.91M$304.33M$331.77M$351.03M$449.19M$591.47M$611.14M$631.07M$608.51M
Capital expenditures$80.65M$227.52M$118.30M————$42.20M—
Free cash flow$211.26M$76.82M$213.47M$351.03M$449.19M$591.47M$611.14M$588.87M$608.51M
Investing cash flow-$150.30M-$322.26M-$375.66M-$511.44M-$1.85B-$48.77M-$93.82M-$173.96M-$571.32M
Financing cash flow-$143.32M$15.25M$95.86M$108.20M$1.41B-$547.09M-$518.03M-$387.67M-$104.62M
Dividends paid$195.01M$221.33M$243.86M$256.25M$273.84M$387.11M$442.22M$461.77M$476.31M
Share buybacks————————$31.92M
Stock-based compensation$5.59M$5.57M$6.69M$7.14M$8.09M$9.08M$10.09M$11.49M$11.54M
Depreciation & amortization$145.68M$143.35M$163.55M$156.57M$232.05M$314.51M$205.38M$209.77M$263.12M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.