CubeSmart is a real estate investment trust that acquires, owns, and manages self-storage facilities throughout the United States. The company's real estate portfolio is composed of buildings with numerous enclosed storage areas for both residential and commercial customers to rent mainly on a month-by-month basis.
It is a $8.55B real estate company. Revenue grew 4.0% over the last year, it keeps 29¢ of every dollar of sales as profit, and its net debt equals ~5.9 years of free cash flow. It trades at 25.6× earnings — around the middle of its own history.
- Website
- cubesmart.com
- Location
- Malvern, PA
- Employees
- 3 121
- Sector
- Real Estate
- Founded
- 2004
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Health lags behind.
Valuation64
- P/E vs own history34th pct · 20/25
- FCF yield7.0% · 20/25
- P/S7.5x · 12/25
- EV/EBITDA17.3x · 12/25
Growth57
- Revenue CAGR8.1% · 12/25
- Net income CAGR10.5% · 20/25
- EPS CAGR ~5Y11.4% · 20/25
- Fwd implied growth1.6% · 5/25
Profitability67
- ROIC5.4% · 5/25
- ROE12.4% · 12/25
- Net margin29.4% · 25/25
- Operating margin39.5% · 25/25
Health10
- Altman Zn/a · 0/25
- Current ratio0.10 · 0/25
- Interest coverage3.8x · 10/25
- Net cash / debtD/A 53% · 0/25
Quality60
- Piotroski F4/9 · 10/25
- Beneish M-2.61 · 25/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 1.8% · 25/25
Moat50
- ROIC >12% years2/9 yrs · 0/25
- Median gross margin69.4% · 25/25
- FCF-positive yearsn/a · 0/25
- Worst-year net marginworst 24.4% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2023FinancialBest year on record$411M net income
- FY2022FinancialRevenue crossed $1B$1.01B for the year
- 2021AcquisitionThe company acquired Storage West for $1.7 billion
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialPositive free cash flow every year since10-year streak
- Sep 14, 2011MilestoneThe company changed its name to CubeSmart
- 2004FoundedThe company was founded in July 2004 as U-Store-It Trust
- 2004IPOThe company became a public company via an initial public offering
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (67.8%)
- Strongly profitable — 29.4% net margin
- Strong cash conversion — FCF is 52.6% of revenue
Watch-outs
- Net debt equals ~5.9 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+4.0% YoY
- Profitable — makes more than it spends$334M TTM
- Profit growing — earnings are higher than last year+4.1% YoY
- Generates cash — cash left after running and investing$598M TTM
- Debt under control — could handle its obligations~5.9y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$8.55B market cap
- Not printing shares — share count not ballooning — you keep your slice+17.6% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distresshealth score 10/100
- Pays a dividend — returns cash to shareholdersyield 5.61%
- Valuation not extreme — price not wildly above earningsP/E 25.6
Peer comparisonCubeSmart vs 6 largest real estate peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| CUBE this company | $8.6B | 25.6 | +4.0% | 29.4% | Strained |
| WELL Welltower Inc. | $162.5B | 108.1 | +37.6% | 12.1% | Strained |
| PLD Prologis, Inc. | $123.1B | 29.8 | +7.3% | 45.8% | Strained |
| EQIX Equinix, Inc. | $101.2B | 66.0 | +9.6% | 15.6% | Strained |
| AMT American Tower Corporation | $84.5B | 25.0 | +14.2% | 31.1% | Strained |
| DLR Digital Realty Trust, Inc. | $66.6B | 83.0 | +17.4% | 11.8% | Strained |
| SPG Simon Property Group, Inc. | $64.7B | 14.0 | +15.0% | 66.5% | Strained |
Head-to-head: CUBE vs WELL · CUBE vs PLD · CUBE vs EQIX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/CUBE
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of CUBE on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $37.97 · market cap $8.55B.