CubeSmart (CUBE)

CUBE Income Statement

Revenue, expenses, and profitability analysis

CUBE Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	1.132B	281.929M	282.691M	285.080M	282.303M	273.036M	267.726M	270.890M	266.209M
Cost of Goods Sold	997.717M	212.944M	538.409M	90.848M	155.516M	82.934M	75.748M	81.868M	83.097M
Gross Profit	134.286M	68.985M	-255.718M	194.232M	126.787M	190.102M	191.978M	189.022M	183.112M
Gross Profit Margin	24.5%	24.5%	-90.5%	68.1%	44.9%	69.6%	71.7%	69.8%	68.8%
Total Operating Expenses	-312.969M	-44.249M	-366.811M	83.194M	14.897M	75.224M	67.892M	65.475M	65.657M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	70.648M	17.189M	22.056M	16.506M	14.897M	16.068M	15.151M	14.265M	14.622M
Operating Income (EBIT)	447.255M	113.234M	111.093M	111.038M	111.890M	114.878M	124.086M	123.547M	117.455M
Operating Margin	40.2%	40.2%	39.3%	38.9%	39.6%	42.1%	46.3%	45.6%	44.1%
Income Before Tax (EBT)	325.459M	82.887M	77.724M	82.416M	82.432M	88.745M	101.891M	100.950M	94.186M
Interest Income	—	—	—	—	—	—	—	—	—
Interest Expense	60.425M	30.896M	29.529M	—	—	—	—	—	—
Other Income/Expense	-121.933M	-30.484M	-33.369M	-28.622M	-29.458M	-26.133M	-22.195M	-22.597M	-23.269M
Net Income	327.472M	82.887M	78.695M	82.930M	82.960M	89.197M	101.892M	100.797M	93.964M
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit Margin	29.4%	29.4%	27.8%	29.1%	29.4%	32.7%	38.1%	37.2%	35.3%
EBITDA	707.129M	175.084M	173.072M	179.742M	179.231M	175.222M	154.632M	174.757M	168.490M
EBITDA Margin	62.1%	62.1%	61.2%	63.0%	63.5%	64.2%	57.8%	64.5%	63.3%
Depreciation & Amortization	262.912M	61.438M	65.819M	67.946M	67.709M	60.377M	52.741M	51.210M	51.035M
EPS Basic	1.42	0.36	0.34	0.36	0.36	0.39	0.45	0.45	0.42
EPS Diluted	1.42	0.36	0.34	0.36	0.36	0.39	0.45	0.44	0.41
Shares Outstanding	227.809M	227.809M	228.727M	228.731M	228.700M	228.663M	227.581M	226.166M	225.886M
Diluted Shares Outstanding	228.206M	228.206M	229.160M	229.237M	229.273M	229.169M	228.440M	227.149M	226.618M

CUBE Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	1.123B	1.066B	1.050B	1.010B	822.564M	679.355M	655.037M	597.944M
Cost of Goods Sold	867.707M	317.750M	294.780M	293.260M	252.104M	206.734M	198.239M	196.866M
Gross Profit	255.403M	748.481M	755.554M	716.364M	570.460M	472.621M	456.798M	401.078M
Gross Profit Margin	22.7%	70.2%	71.9%	71.0%	69.4%	69.6%	69.7%	67.1%
Total Operating Expenses	-193.496M	265.366M	258.279M	365.233M	279.858M	58.323M	50.060M	181.062M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.28
Selling, General & Administrative	64.655M	85.663M	57.041M	77.023M	68.809M	58.323M	50.060M	48.012M
Operating Income (EBIT)	448.899M	483.115M	497.275M	351.131M	290.602M	414.298M	406.738M	220.016M
Operating Margin	40.0%	45.3%	47.3%	34.8%	35.3%	61.0%	62.1%	36.8%
Income Before Tax (EBT)	331.317M	391.885M	412.435M	292.472M	230.813M	167.611M	170.771M	165.488M
Interest Income	—	—	—	—	—	—	—	—
Interest Expense	114.099M	—	—	—	—	—	—	—
Other Income/Expense	-117.582M	-91.230M	-84.840M	-58.659M	-59.789M	-246.687M	-235.967M	-54.528M
Net Income	333.782M	391.180M	410.757M	291.263M	223.482M	165.621M	169.117M	163.889M
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit Margin	29.7%	36.7%	39.1%	28.8%	27.2%	24.4%	25.8%	27.4%
EBITDA	703.567M	688.818M	710.879M	603.082M	462.862M	414.298M	406.738M	363.466M
EBITDA Margin	62.6%	64.6%	67.7%	59.7%	56.3%	61.0%	62.1%	60.8%
Depreciation & Amortization	258.151M	205.703M	205.379M	310.610M	232.049M	156.573M	163.547M	380.141M
EPS Basic	1.46	1.73	1.82	1.29	1.10	0.85	0.44	0.89
EPS Diluted	1.46	1.72	1.82	1.29	1.09	0.85	0.44	0.88
Shares Outstanding	228.727M	226.353M	225.424M	224.928M	203.832M	194.147M	190.874M	184.653M
Diluted Shares Outstanding	229.160M	227.150M	226.241M	225.881M	205.009M	194.943M	191.576M	185.495M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About CubeSmart

CubeSmart functions as an independent real estate investment trust (REIT), overseeing both its administration and management. The company's self-storage facilities deliver secure, convenient, and budget-friendly storage options for both private individuals and commercial entities. According to data from the 2020 Self-Storage Almanac, CubeSmart ranks among the top three owners and operators of self-storage properties nationwide.

Malvern, PA

3,104 employees

www.cubesmart.com

Real Estate / REIT - Industrial

Sector: Real Estate
Industry: REIT - Industrial
CEO: Christopher Marr

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