CubeSmart Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	1,083	1,025	1,014	975.46	791.36
Service and Other Revenue	40.24	41.42	36.54	34.17	31.21
Revenue	1,123	1,066	1,050	1,010	822.56
Revenue Growth (YoY)	5.33%	1.51%	4.03%	22.74%	21.11%
Property Expenses	351.41	317.75	294.78	293.26	252.1
Total Property Expenses	351.41	317.75	294.78	293.26	252.1
Gross Profit	771.71	748.48	755.55	716.36	570.46
Selling, General & Admin	64.66	59.66	57.04	54.62	47.81
Depreciation & Amortization Expenses	258.15	205.7	201.24	310.61	232.05
Operating Income	448.9	483.12	497.28	351.13	290.6
Net Gains on Disposal of Properties	-	-	-	-	32.7
Interest Income	2.46	2.5	6.09	48.88	25.28
Interest Expense	-119.07	-94.89	-97.21	-97.18	-86.62
Other Non-Operating Income (Expense)	-0.97	1.16	6.28	-10.36	-31.15
Total Non-Operating Income (Expense)	-117.58	-91.23	-84.84	-58.66	-59.79
Pretax Income	331.32	391.89	412.44	292.47	230.81
Net Income	337.03	395.5	415.83	295.13	223.48
Minority Interest in Earnings	-5.72	-3.61	-3.39	-2.65	-8.42
Net Income to Common	337.03	395.5	415.83	295.13	223.48
Net Income Growth	-14.78%	-4.89%	40.90%	32.06%	34.94%
Shares Outstanding (Basic)	229	226	225	225	204
Shares Outstanding (Diluted)	229	227	226	226	205
Shares Change (YoY)	0.89%	0.40%	0.16%	10.18%	5.16%
EPS (Basic)	1.46	1.73	1.82	1.29	1.10
EPS (Diluted)	1.46	1.72	1.82	1.29	1.09
EPS Growth	-15.12%	-5.50%	41.09%	18.35%	28.23%
Free Cash Flow	486	515.14	501.33	436.87	193.14
Free Cash Flow Growth	-5.66%	2.75%	14.75%	126.19%	-
Free Cash Flow Per Share	2.12	2.27	2.22	1.93	0.94
Dividends Per Share	2.090	2.050	1.980	1.780	1.450
Dividend Growth	1.95%	3.54%	11.24%	22.76%	9.02%
Gross Margin	68.71%	70.20%	71.93%	70.95%	69.35%
Operating Margin	39.97%	45.31%	47.34%	34.78%	35.33%
Profit Margin	29.50%	36.75%	39.27%	28.97%	28.06%
FCF Margin	43.27%	48.31%	47.73%	43.27%	23.48%
EBITDA	712.02	692.89	702.65	665.64	530.82
EBITDA Margin	63.40%	64.98%	66.90%	65.93%	64.53%
EBIT	448.9	483.12	497.28	351.13	290.6
EBIT Margin	39.97%	45.31%	47.34%	34.78%	35.33%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q