CubeSmart (CUBE) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 281.93M | 282.69M | 285.08M | 282.3M | 273.04M | 267.73M | 270.89M | 266.21M | 261.41M | 266.73M | 267.88M | 261.6M | 257.37M | 262.33M | 262.26M | 249.34M | 238.86M | 222.58M | 213.38M | 199.7M |
| Revenue Growth % | 3.26% | 5.59% | 5.24% | 6.05% | 4.45% | 0.37% | 1.13% | 1.76% | 1.57% | 1.68% | 2.14% | 4.91% | 7.75% | 17.86% | 22.91% | 24.86% | 26.19% | 24.22% | 23.72% | 22.05% |
| Property Operating Expenses | 0 | 538.41M | 90.85M | 155.52M | 82.93M | 75.75M | 81.87M | 83.1M | 127.75M | 46.79M | 77.55M | 74.82M | 71.13M | 50.09M | 76.73M | 73.47M | 70.57M | 42.06M | 64.06M | 63.75M |
| Net Operating Income (NOI) | 281.93M | -255.72M | 194.23M | 126.79M | 190.1M | 191.98M | 189.02M | 183.11M | 133.65M | 219.94M | 190.33M | 186.77M | 186.24M | 212.24M | 185.53M | 175.87M | 168.29M | 180.52M | 149.31M | 135.94M |
| NOI Margin % | 100% | -90.46% | 68.13% | 44.91% | 69.63% | 71.71% | 69.78% | 68.79% | 51.13% | 82.46% | 71.05% | 71.4% | 72.36% | 80.9% | 70.74% | 70.53% | 70.46% | 81.1% | 69.98% | 68.08% |
| Operating Expenses | 90.07M | -366.81M | 83.19M | 14.9M | 75.22M | 67.89M | 65.47M | 65.66M | 15.63M | 38.48M | 64.05M | 14.32M | 14.67M | 35.38M | 13.39M | 13.72M | 14.53M | 34.24M | 12.1M | 11.56M |
| G&A Expenses | 17.19M | 22.06M | 16.51M | 14.9M | 16.07M | 15.15M | 14.27M | 14.62M | 15.63M | 38.48M | 14.06M | 14.32M | 14.67M | 35.38M | 13.39M | 13.72M | 14.53M | 34.24M | 12.1M | 11.56M |
| EBITDA | 61.08M | 176.91M | 178.98M | 179.6M | 175.25M | 176.83M | 174.76M | 168.49M | 168.74M | 232.03M | 176.26M | 222.81M | 221.89M | 246.29M | 251.72M | 241.19M | 236.32M | 214.51M | 193.09M | 178.52M |
| EBITDA Margin % | 21.67% | 62.58% | 62.78% | 63.62% | 64.19% | 66.05% | 64.51% | 63.29% | 64.55% | 86.99% | 65.8% | 85.17% | 86.22% | 93.88% | 95.98% | 96.73% | 98.94% | 96.37% | 90.49% | 89.4% |
| Depreciation & Amortization | 61.44M | 65.82M | 67.95M | 67.71M | 60.38M | 52.74M | 51.21M | 51.03M | 50.72M | 50.57M | 49.98M | 50.36M | 50.33M | 69.43M | 79.57M | 79.05M | 82.56M | 68.23M | 55.87M | 54.14M |
| D&A / Revenue % | 21.79% | 23.28% | 23.83% | 23.98% | 22.11% | 19.7% | 18.9% | 19.17% | 19.4% | 18.96% | 18.66% | 19.25% | 19.56% | 26.47% | 30.34% | 31.7% | 34.56% | 30.65% | 26.18% | 27.11% |
| Operating Income | -357K | 111.09M | 111.04M | 111.89M | 114.88M | 124.09M | 123.55M | 117.45M | 118.03M | 181.46M | 126.28M | 172.45M | 171.56M | 176.86M | 172.14M | 162.15M | 153.77M | 146.28M | 137.22M | 124.39M |
| Operating Margin % | -0.13% | 39.3% | 38.95% | 39.63% | 42.07% | 46.35% | 45.61% | 44.12% | 45.15% | 68.03% | 47.14% | 65.92% | 66.66% | 67.42% | 65.64% | 65.03% | 64.38% | 65.72% | 64.31% | 62.29% |
| Interest Expense | -1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | -0.01x | 3.63x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Non-Operating Income | 0 | 3.84M | -758K | 368K | 33K | 0 | -153K | -425K | -845K | 50.57M | 0 | 50.36M | 50.33M | 69.43M | 79.57M | 79.05M | 82.56M | 68.23M | 55.87M | 54.14M |
| Pretax Income | 82.89M | 77.72M | 82.42M | 82.43M | 88.75M | 101.89M | 100.95M | 94.19M | 94.86M | 113.14M | 103.07M | 98.28M | 97.94M | 82.17M | 113.44M | 58.59M | 38.27M | 46.56M | 90.57M | 50.37M |
| Pretax Margin % | 29.4% | 27.49% | 28.91% | 29.2% | 32.5% | 38.06% | 37.27% | 35.38% | 36.29% | 42.42% | 38.48% | 37.57% | 38.06% | 31.32% | 43.25% | 23.5% | 16.02% | 20.92% | 42.44% | 25.22% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 82.89M | 78.69M | 82.93M | 82.96M | 89.2M | 101.89M | 100.8M | 93.96M | 94.53M | 112.67M | 102.64M | 97.88M | 97.57M | 81.86M | 112.89M | 58.36M | 38.16M | 45.35M | 87.65M | 48.75M |
| Net Margin % | 29.4% | 27.84% | 29.09% | 29.39% | 32.67% | 38.06% | 37.21% | 35.3% | 36.16% | 42.24% | 38.32% | 37.42% | 37.91% | 31.21% | 43.04% | 23.4% | 15.97% | 20.37% | 41.08% | 24.41% |
| Net Income Growth % | -7.07% | -22.77% | -17.73% | -11.71% | -5.64% | -9.56% | -1.8% | -4% | -3.11% | 37.63% | -9.07% | 67.72% | 155.71% | 80.52% | 28.79% | 19.7% | -8.57% | 7.13% | 86.92% | 26.61% |
| Funds From Operations (FFO) | 144.32M | 144.51M | 150.88M | 150.67M | 149.57M | 154.63M | 152.01M | 145M | 145.24M | 163.23M | 152.63M | 148.24M | 147.9M | 151.29M | 192.46M | 137.4M | 120.71M | 113.58M | 143.52M | 102.89M |
| FFO Margin % | 51.19% | 51.12% | 52.92% | 53.37% | 54.78% | 57.76% | 56.11% | 54.47% | 55.56% | 61.2% | 56.98% | 56.67% | 57.46% | 57.67% | 73.39% | 55.11% | 50.54% | 51.03% | 67.26% | 51.52% |
| FFO Growth % | -3.51% | -6.54% | -0.74% | 3.91% | 2.98% | -5.27% | -0.41% | -2.18% | -1.79% | 7.89% | -20.7% | 7.88% | 22.52% | 33.21% | 34.1% | 33.54% | 26.34% | 41.82% | 68.9% | 31.24% |
| FFO per Share | 0.63 | 0.63 | 0.66 | 0.66 | 0.65 | 0.68 | 0.67 | 0.64 | 0.64 | 0.72 | 0.67 | 0.66 | 0.65 | 0.67 | 0.85 | 0.61 | 0.53 | 0.56 | 0.70 | 0.51 |
| FFO Payout Ratio % | 0% | 82.42% | 78.94% | 79.02% | 79.59% | 74.93% | 75.9% | 79.5% | 79.35% | 69.45% | 72.45% | 74.56% | 74.71% | 64.03% | 50.31% | 70.46% | 80.03% | 61.03% | 47.94% | 66.43% |
| EPS (Diluted) | 0.36 | 0.34 | 0.36 | 0.36 | 0.39 | 0.45 | 0.44 | 0.41 | 0.42 | 0.50 | 0.45 | 0.43 | 0.43 | 0.26 | 0.40 | 0.16 | 0.07 | 0.13 | 0.43 | 0.24 |
| EPS Growth % | -7.69% | -24.44% | -18.18% | -12.2% | -7.14% | -10% | -2.22% | -4.65% | -2.33% | 92.31% | 12.5% | 168.75% | 528.65% | 100% | -6.98% | -33.33% | -67.43% | -40.91% | 79.17% | 20% |
| EPS (Basic) | 0.36 | 0.34 | 0.36 | 0.36 | 0.39 | 0.45 | 0.45 | 0.42 | 0.42 | 0.50 | 0.46 | 0.43 | 0.43 | 0.26 | 0.40 | 0.16 | 0.07 | 0.13 | 0.43 | 0.24 |
| Diluted Shares Outstanding | 228.21M | 229.16M | 229.24M | 229.27M | 229.17M | 228.44M | 227.15M | 226.62M | 226.57M | 226.24M | 226.21M | 226.28M | 226.18M | 225.88M | 225.97M | 225.9M | 225.74M | 203.8M | 203.8M | 202.81M |