CUBE
CubeSmart
CUBE's fundamentals are mixed: revenue grew 3.3%, while its operating margin held steady at 41%. At 30x earnings, it's trading right at its usual valuation. Analysts expect earnings growth.
CUBE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
CUBE's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like CUBE.
CUBE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 24x | $36.96 | -18% |
| Forward | 28x | $45.00 | — |
| Fair | 29x | $44.25 | -1.7% |
| Current | 30x | $45.00 | — |
| Expensive | 44x | $67.20 | +49% |
Historical ranges are pointers, not guarantees.
CUBE's PE is in its fair range at 30x. If earnings grow as analysts expect, today's price would be 28x next year's earnings.
CUBE Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect CUBE's earnings to grow and its profitability to improve, with its revenue holding steady.
CUBE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.62 | +6.5% |
| Q3 2026 | $1.52 | -2.6% |
| Q2 2026 | $1.46 | -11% |
| Q1 2026 | $1.43 | -15% |
| Q4 2025 | $1.46 | -15% |
| Q3 2025 | $1.56 | -12% |
| Q2 2025 | $1.64 | -8.4% |
| Q1 2025 | $1.69 | -6.6% |
| Q4 2024 | $1.72 | -5.5% |
CUBE earned $1.52 per share over the past year, down 2.6% from the year before.
CUBE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $294M | +3.1% |
| Q2 2026 | $286.5M | +1.5% |
| Q1 2026 | $281.9M | +3.3% |
| Q4 2025 | $282.7M | +5.6% |
| Q3 2025 | $285.1M | +5.2% |
| Q2 2025 | $282.3M | +6% |
| Q1 2025 | $273M | +4.4% |
| Q4 2024 | $267.7M | +1% |
CUBE's revenue has grown year over year every quarter since late 2020: $294M last quarter, up 3.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 43% | +3.8 points |
| Q2 2026 | 41% | +1.3 points |
| Q1 2026 | 40% | -1.9 points |
| Q4 2025 | 39% | -7.1 points |
| Q3 2025 | 39% | -6.7 points |
| Q2 2025 | 40% | -4.5 points |
| Q1 2025 | 42% | -3.1 points |
| Q4 2024 | 46% | -2.4 points |
CUBE's operating margin was 43% last quarter, up 3.8 points from the same quarter a year ago.
CUBE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | $136.5M | -17% |
| Q4 2024 | $164.7M | +13% |
| Q3 2024 | $145.4M | -14% |
| Q2 2024 | $170.9M | +6% |
| Q1 2024 | $150.2M | +11% |
| Q4 2023 | $146M | +0.7% |
| Q3 2023 | $168.4M | +3.8% |
| Q2 2023 | $161.3M | +5% |
CUBE's free cash flow was $601M over the past year, down 4.8% from the year before. Free cash flow isn't a meaningful measure for real estate companies like CUBE.
CUBE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -1.1M shares |
| 1 year | -1.4% | -3.2M shares |
| 3 years | 0% | -101K shares |
| 5 years | +11% | +22.3M shares |
| Available history | +18% | +34.5M shares |
CUBE has 226M diluted shares, down 1.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $84M |
| Q2 2026 | $42.5M |
| Q1 2026 | $33.4M |
CUBE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q2 2024 | 0.0x | Very low |
CUBE's net debt is about 1.2 years of its operating earnings (EBITDA), after holding more cash than debt a year ago. Net leverage isn't a meaningful measure for real estate companies like CUBE.
CUBE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 87.8 | Overbought |
CUBE's weekly RSI is 68 (neutral) and its Stochastic is 88 (overbought).
CUBE PE vs Real Estate Sector
| Metric | CUBE | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 24x | 24% above |
| PE % | 51 | 23 | 28 pts above |
CUBE is trading at 30x earnings, a 24% premium to the Real Estate sector's median of 24x.
CUBE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.7 | 11% above |
| 20 week MA | $40.7 | 10% above |
| 50 week MA | $39.5 | 14% above |
| 100 week MA | $40.3 | 12% above |
| 200 week MA | $42.5 | 5.8% above |
CUBE has climbed back above all five of its weekly moving averages, and it's now 5.8% above its 200-week average.
CUBE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $31.4 | $33.7 | +7.3% |
| 2021 | $33.7 | $55.8 | +66% |
| 2022 | $55.8 | $40.7 | -27% |
| 2023 | $40.7 | $46.4 | +14% |
| 2024 | $46.4 | $42.6 | -8.1% |
| 2025 | $42.6 | $35.9 | -16% |
| 2026 YTD | $35.9 | $45.0 | +25% |
CUBE has finished lower in three of the last six years. It's up 25% so far in 2026.