CUBE - NYSE

CubeSmart

CUBE·NYSE

$39.59

-0.50%

Real EstateREIT - Industrial

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2020 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$9.01B

EPS1.4600

P/E Ratio27.12

Earnings Date07/30/2026

611.67M

Operating Cash Flow

-3%

3Y+3.0%

5Y+74.0%

10Y+132.0%

-574.18M

Investing Cash Flow

230%

3Y+1077.0%

5Y+12.0%

10Y+3.0%

-104.92M

Financing Cash Flow

-73%

3Y-81.0%

5Y-197.0%

10Y-148.0%

CubeSmart Cash Conversion Engine

CUBE · NYSE

FCF Components

Net Income333.78M

Depreciation & Amortization258.15M

Stock-Based Compensation0.00

Change in Working Capital-2.85M

Others22.59M

Capital Expenditures-44.79M

Free Cash Flow566.89M

Cash Flow Quality Analysis

FCF Conversion Rate

169.8%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

7.3%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-10.2%

Declining FCF warrants attention. Investigate whether due to temporary factors or fundamental deterioration.

Working Capital Impact

-$2.85M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

CubeSmart Cash Flow Statement

CUBE • NYSE

CubeSmart Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
OPERATING ACTIVITIES
Net Income	333.8M	391.2M	410.8M	291.3M	223.5M	165.6M	166.3M	163.9M	134.3M	87.9M	80M	26M	10.4M	-9.8M	-7.6M	-11.2M	-17.6M	-17.5M	-15.5M	-8.6M
Depreciation & Amortization	258.2M	209.8M	205.4M	314.5M	240.2M	159.2M	166.4M	145.7M	148.3M	164.4M	154.1M	129M	112.3M	113.9M	73.7M	70.9M	75.9M	80.1M	72.2M	66.7M
Stock-Based Compensation	0.0	11.5M	10.1M	9.1M	8.1M	7.2M	6.7M	5.6M	5.6M	3.2M	2.2M	1.7M	5.6M	4.6M	3.2M	3.6M	3.4M	2.7M	1.8M	1.3M
Other Non-Cash Items	22.6M	2.5M	-4.7M	-48.8M	-32.1M	12.8M	-8.9M	-8.8M	566K	696K	-16.8M	1.4M	-4.1M	802K	3.9M	-707K	2.7M	166K	-46K	747K
Change in Working Capital	-2.9M	16.1M	-10.4M	25.4M	9.5M	6.2M	1.3M	-1.9M	3.1M	6M	-734K	4.5M	5.1M	8.5M	1.1M	5.6M	-2.2M	1.2M	4.3M	4.4M
Cash from Operating Activities	611.7M	631.1M	611.1M	591.5M	449.2M	351M	331.8M	304.3M	291.9M	263.3M	217.3M	166M	142.9M	118.4M	84.3M	71.5M	62.2M	67M	62.9M	64.6M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	-44.8M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-102.8M	-86M	-68.8M	-136.9M	-81.3M	-23.6M	-54M	-4.2M	-471.2M	-104.4M	-17.9M	-30.7M	-48M	-312.4M
Acquisitions, Net	-450.8M	-58.5M	-21K	-21K	-1.7B	-7M	-128.2M	-19.2M	-301K	-12.2M	-8.4M	-2.6M	-157.5M	-81.2M	-15.5M	(0.0)	(30.8M)	-30.7M	-169.8M	(0.0)
Purchase of Investments	-78.6M	-5M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-4.1M	(0.0)	(0.0)	(0.0)	-15.5M	(0.0)	(0.0)	(0.0)	(0.0)	-19M
Sale/Maturity of Investments	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	48.6M	0.0	0.0	114.2M
Other Investing Items	0.0	-110.5M	-93.8M	-48.7M	-145.4M	-504.4M	-144.6M	-217M	-81.2M	-410.2M	-280.8M	-496.6M	-71.5M	-186.6M	60M	59.7M	37.3M	88.7M	64.3M	-30.9M
Cash from Investing Activities	-574.2M	-174M	-93.8M	-48.8M	-1.9B	-511.4M	-375.7M	-322.3M	-150.3M	-559.3M	-374.6M	-522.7M	-282.9M	-271.9M	-442.1M	-44.8M	(98.9M)	(27.2M)	-153.6M	-248M
FINANCING ACTIVITIES
Net Issuance of Common Stock	-30.6M	118.3M	-276K	4.9M	965.6M	120M	196.3M	131.8M	29.6M	136.1M	234.1M	416M	100.3M	102.1M	278.9M	47.6M	170.9M	0.0	0.0	3M
Net Issuance of Debt	408.2M	-50.4M	-75.4M	-151.4M	748.3M	267.5M	185.3M	104M	32.9M	304.6M	86.4M	9.3M	104.6M	158.3M	121.2M	-153.2M	-208M	-49.6M	19.9M	174M
Cash Paid for Dividends	-476.3M	-461.8M	-442.2M	-387.1M	-282.1M	-256.3M	-243.9M	-221.3M	-195M	-155.8M	-113.1M	-81.9M	-65.2M	-45.5M	-27.8M	-9.4M	-6.7M	-41.6M	-66.8M	(0.0)
Share Repurchases	-36M	(0.0)	-276K	(0.0)	(0.0)	-686K	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Other Financing Items	-6.2M	6.3M	-142K	-13.4M	-21.2M	-23.1M	-41.9M	737K	-10.9M	12.1M	9.9M	13M	-972K	-66M	-86.1M	-8.6M	-18.1M	-3.8M	122.4M	-6M
Cash from Financing Activities	-104.9M	-387.7M	-518M	-547.1M	1.4B	108.2M	95.9M	15.2M	-143.3M	219.4M	217.3M	356.4M	138.7M	148.9M	361M	-123.6M	-62M	-95M	75.5M	104.3M
CASH FLOW SUMMARY
Net Change in Cash	-67.4M	69.4M	-708K	-4.4M	7.1M	-52.2M	52M	-2.7M	2.3M	-59.9M	60M	-275K	-1.3M	-4.6M	3.2M	-96.9M	99M	-773K	-15.2M	-79.2M
Cash at Beginning of Period	77.7M	8.2M	8.9M	13.3M	6.2M	58.4M	6.5M	9.2M	3M	62.9M	2.9M	3.2M	4.5M	9.1M	5.9M	102.8M	3.7M	4.5M	19.7M	98.9M
Cash at End of Period	10.2M	77.7M	8.2M	8.9M	13.3M	6.2M	58.4M	6.5M	5.3M	3M	62.9M	2.9M	3.2M	4.5M	9.1M	5.9M	102.8M	3.7M	4.5M	19.7M
Free Cash Flow	566.9M	631.1M	611.1M	591.5M	449.2M	351M	331.8M	304.3M	291.9M	263.3M	217.3M	166M	142.9M	118.4M	84.3M	71.5M	44.3M	36.3M	62.9M	-247.8M

SEC Filings

CUBE - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	June 01, 2026	June 01, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 19, 2026	May 19, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 14, 2026	May 14, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 04, 2026	May 04, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 01, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 01, 2026	April 30, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	April 03, 2026	May 19, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 02, 2026	March 02, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 02, 2026	March 02, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 27, 2026	December 31, 2025	2025	View Filing

Showing 1 to 10 of 444 filings

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