Last 47 quarters of trend data · Real Estate · REIT - Industrial
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
CubeSmart's quarterly P/E stands at 28.2x, down 7.7% year-over-year. EV/EBITDA has compressed 18.0% YoY to 17.7x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 23.92 | 28.24 | 29.51 | 27.38 | 23.81 | 30.59 | 27.54 | 26.92 | 23.18 | 21.18 | 25.97 | 26.87 | 38.70 |
| — | -7.7% | +7.2% | +1.7% | +2.7% | +44.4% | +6.1% | +0.2% | -40.1% | -15.4% | -61.1% | -85.9% | -64.6% | |
| P/S Ratio | 8.80 | 8.17 | 8.63 | 8.96 | 9.14 | 11.28 | 9.61 | 9.80 | 9.83 | 8.05 | 9.66 | 10.15 | 8.66 |
| — | -27.6% | -10.2% | -8.5% | -7.0% | +40.2% | -0.5% | -3.5% | +13.4% | -6.7% | -0.2% | -17.4% | -33.5% | |
| P/B Ratio | 3.16 | 3.26 | 3.37 | 3.35 | 3.31 | 4.26 | 3.60 | 3.58 | 3.64 | 3.00 | 3.51 | 3.62 | 3.14 |
| — | -23.3% | -6.2% | -6.5% | -9.0% | +41.8% | +2.4% | -1.1% | +16.0% | -3.0% | +5.6% | -9.4% | -18.9% | |
| P/FCF | 14.87 | 12.73 | 15.47 | 16.72 | 14.86 | 21.02 | 14.98 | 17.06 | 17.96 | 12.70 | 15.56 | 19.12 | 15.68 |
| — | -39.4% | +3.3% | -2.0% | -17.2% | +65.5% | -3.7% | -10.8% | +14.5% | -9.0% | -1.0% | -14.9% | -42.6% | |
| EV / EBITDA | 17.95 | 17.75 | 18.31 | 18.85 | 18.05 | 21.64 | 19.56 | 19.60 | 14.51 | 16.46 | 14.73 | 15.22 | 12.33 |
| — | -18.0% | -6.4% | -3.8% | +24.4% | +31.5% | +32.8% | +28.8% | +17.7% | +36.6% | +10.9% | -3.6% | -28.5% | |
| EV / EBIT | 25.59 | 28.41 | 29.49 | 28.76 | 25.73 | 30.57 | 27.95 | 27.82 | 25.72 | 22.97 | 26.88 | 27.86 | 28.27 |
| — | -7.0% | +5.5% | +3.4% | +0.0% | +33.1% | +4.0% | -0.1% | -9.0% | -29.9% | -30.3% | -46.8% | -40.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
CubeSmart's operating margin was 38.9% in Q3 2025, down 0.7 pp QoQ and down 6.7 pp YoY. This marks the 4th consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 41.8% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.2% | 68.1% | 44.9% | 69.6% | 71.7% | 69.8% | 68.8% | 51.1% | 82.5% | 71.1% | 71.4% | 72.4% | 80.9% |
| — | -2.4% | -34.7% | +36.2% | -13.0% | -1.8% | -3.7% | -29.3% | +1.9% | +0.4% | +1.2% | +2.7% | -0.2% | |
| Operating Margin | 45.3% | 38.9% | 39.6% | 42.1% | 46.3% | 45.6% | 44.1% | 45.2% | 68.0% | 47.1% | 65.9% | 66.7% | 67.4% |
| — | -14.6% | -10.2% | -6.8% | -31.9% | -3.3% | -33.1% | -32.3% | +0.9% | -28.2% | +1.4% | +3.6% | +2.6% | |
| Net Margin | 36.7% | 29.1% | 29.4% | 32.7% | 38.1% | 37.2% | 35.3% | 36.2% | 42.2% | 38.3% | 37.4% | 37.9% | 31.2% |
| — | -21.8% | -16.7% | -9.7% | -9.9% | -2.9% | -5.7% | -4.6% | +35.4% | -11.0% | +59.9% | +137.3% | +53.2% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.4% | 2.9% | 2.9% | 3.0% | 3.5% | 3.5% | 3.3% | 3.3% | 3.9% | 3.6% | 3.4% | 3.4% | 2.8% |
| — | -18.1% | -13.3% | -7.8% | -10.7% | -1.2% | -3.0% | -2.4% | +39.3% | -7.9% | +69.9% | +162.5% | +63.8% | |
| ROA | 6.2% | 1.2% | 1.2% | 1.4% | 1.6% | 1.6% | 1.5% | 1.5% | 1.8% | 1.6% | 1.6% | 1.5% | 1.3% |
| — | -24.4% | -18.6% | -10.7% | -10.5% | -0.7% | -2.6% | -1.7% | +40.3% | -7.0% | +72.0% | +163.7% | +61.9% | |
| ROIC | 6.1% | 1.3% | 1.3% | 1.4% | 1.6% | 1.6% | 1.5% | 1.5% | 2.3% | 1.6% | 2.2% | 2.2% | 2.2% |
| — | -17.1% | -12.4% | -7.2% | -31.6% | -0.5% | -30.7% | -30.1% | +4.8% | -24.6% | +9.4% | +15.5% | +8.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
CubeSmart's Debt/EBITDA ratio is 19.5x — elevated, raising questions about debt serviceability. The current ratio has improved 33.5% YoY to 0.57x, strengthening the short-term liquidity position. Debt/Equity has risen for 5 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.03 | 1.22 | 1.18 | 1.18 | 1.03 | 1.02 | 1.04 | 1.04 | 1.04 | 1.04 | 1.05 | 1.06 | 1.06 |
| — | +19.6% | +14.2% | +12.5% | -0.4% | -1.5% | -1.7% | -1.5% | -1.8% | -1.6% | -3.5% | -2.2% | -1.4% | |
| Debt / EBITDA | 4.43 | 19.52 | 19.04 | 19.60 | 17.26 | 16.82 | 17.51 | 17.71 | 12.88 | 16.94 | 13.61 | 13.80 | 12.43 |
| — | +16.0% | +8.7% | +10.7% | +34.0% | -0.7% | +28.6% | +28.3% | +3.6% | +38.1% | +3.6% | +2.3% | -17.0% | |
| Current Ratio | 0.51 | 0.57 | 0.18 | 0.16 | 0.51 | 0.43 | 0.29 | 0.30 | 0.31 | 0.30 | 0.29 | 0.27 | 0.25 |
| — | +33.5% | -39.5% | -45.6% | +65.7% | +43.8% | +1.9% | +10.1% | +20.6% | +22.4% | +36.0% | +36.1% | -11.4% | |
| Quick Ratio | 0.51 | 0.57 | 0.18 | 0.16 | 0.51 | 0.43 | 0.29 | 0.30 | 0.31 | 0.30 | 0.29 | 0.27 | 0.25 |
| — | +33.5% | -39.5% | -45.6% | +65.7% | +43.8% | +1.9% | +10.1% | +20.6% | +22.4% | +36.0% | +36.1% | -11.4% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonCubeSmart's current P/E is 23.9x. The average P/E over the last 4 quarters is 27.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
CubeSmart's current operating margin is 45.3%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking CubeSmart's business trajectory between earnings reports.