CubeSmart: financial statements

CUBENYSEReal estate · Real Estate Investment TrustsREIT

Price

$44.91

November 13, 2026Market cap $10.2B

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  • The full history: 9 fiscal years, from 2017
  • The estimated fair value, with its range and its certainty
  • The full analysis, 18 a month
  • More questions to the chat on its filings
  • Excel with every year
  • An email when it reports, changes its dividend or an officer buys

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Financial statements

Each fiscal year's income statement, balance sheet and cash flow as the company filed them, and the latest quarters.

2023–2025 fiscal years

Click a line to see it on the chart.

Revenue

+3.4% a year over 2 years

Line202320242025Average a year
Revenue $1.1B$1.1B$1.1B+3.4%
Cost of revenue $295M$318M$351M+9.2%
Gross profit $756M$748M$772M+1.1%
Net income $411M$391M$334M-9.8%
Earnings per share $1.82$1.72$1.46-10.4%
Earnings per share, basic $1.82$1.73$1.46-10.4%
Margins
Gross margin 71.9%70.2%68.7%
Net margin 39.1%36.7%29.7%

Financial statements

CUBE's revenue, profits and cash flows from 2017 to 2022, 6 more fiscal years

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Amounts are in dollars as the company filed them in its annual reports (10-K or 20-F). Those reporting in another currency are converted at each fiscal year-end rate. Shares and earnings per share are adjusted for splits.

Debt and obligations

What the company owes beyond the loans on its balance sheet, and when it pays, from the notes to its annual report: debt maturities, leases, pension plans, goodwill by segment, and how it gets to the tax it pays.

$115M Leases

Leases

Dec 31, 2025

Operating leases

$50M

Finance leases

$66M

The liability is the present value of the rent still to pay, at December 31, 2025. It is not counted in the ladder's debt. The filing

Claims ahead of shareholders

What stands between the business and its shareholders besides the debt, and the financial assets on the other side, from the latest balance sheet.

$73M securities and stakes

Besides its debt, no other claim large enough to list ranks ahead of the shares.

On the other side, it holds $73M of long-term securities and stakes in other companies, at the value in its accounts, about 0.7% of the market value.

On the other side

at Jun 30, 2026
$73M

From the balance sheet of June 30, 2026. The retirement and environmental lines and the pension deficit come from the latest annual report when the quarter's filing does not state them, each with its own date. Market value at the price of November 13, 2026. A line is listed when it is at least 0.5% of the market value. A description of the balance sheet, not a valuation.

The full analysis

What do CubeSmart's filings show?

These are CubeSmart's figures from its filings. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about CUBE's financials

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How much revenue did CUBE have in 2025?

CubeSmart had revenue of $1.1B and net income of $334M in fiscal 2025, a net margin of 29.7%.

How much debt does CUBE have?

On December 31, 2025 CubeSmart had total assets of $6.6B, debt of – and shareholders' equity of $2.7B.

Where are the figures from?

From CubeSmart's annual and quarterly reports to the SEC, read from the structured data (XBRL) it files itself.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

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The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.