CubeSmartCUBEEarnings & Financial Report
CubeSmart is a real estate investment trust that invests in self storage facilities in the United States. As of December 31, 2024, it owned 631 self storage properties in 25 states and the District of Columbia containing 45.8 million rentable square feet. It is the 3rd largest self storage company in the United States.
CUBE Q1 FY2026 Key Financial Metrics
Revenue
$281.9M
Gross Profit
N/A
Operating Profit
$113.2M
Net Profit
$82.8M
Gross Margin
N/A
Operating Margin
40.2%
Net Margin
29.4%
YoY Growth
3.3%
EPS
$0.36
CubeSmart Q1 FY2026 Financial Summary
CubeSmart reported revenue of $281.9M (up 3.3% YoY) for Q1 FY2026, with a net profit of $82.8M (down 6.8% YoY) (29.4% margin).
Key Financial Metrics
| Total Revenue | $281.9M |
|---|---|
| Net Profit | $82.8M |
| Gross Margin | N/A |
| Operating Margin | 40.2% |
| Report Period | Q1 FY2026 |
Revenue Breakdown
CubeSmart Q1 FY2026 revenue of $281.9M breaks down across 3 segments, led by Rental income at $239.9M (85.1% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Rental income | $239.9M | 85.1% |
| Other | $32.1M | 11.4% |
| Property management fee income | $9.9M | 3.5% |
CubeSmart Annual Revenue by Year
CubeSmart annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.1B).
CubeSmart Quarterly Revenue & Net Profit History
CubeSmart results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $281.9M | +3.3% | $82.8M | 29.4% |
| Q4 FY2025 | $282.7M | +5.6% | $77.7M | 27.5% |
| Q3 FY2025 | $285.1M | +5.2% | $82.4M | 28.9% |
| Q2 FY2025 | $282.3M | +6.0% | $82.4M | 29.2% |
| Q1 FY2025 | $273.0M | +4.4% | $88.7M | 32.5% |
| Q4 FY2024 | $267.7M | +1.0% | $101.9M | 38.1% |
| Q3 FY2024 | $270.9M | +1.1% | $101.0M | 37.3% |
| Q2 FY2024 | $266.2M | +2.1% | $94.2M | 35.4% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $266.2M | $270.9M | $267.7M | $273.0M | $282.3M | $285.1M | $282.7M | $281.9M |
| YoY Growth | 2.1% | 1.1% | 1.0% | 4.4% | 6.0% | 5.2% | 5.6% | 3.3% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $6.18B | $6.19B | $6.39B | $6.74B | $6.71B | $6.76B | $6.64B | $6.60B |
| Liabilities | $3.34B | $3.32B | $3.44B | $3.82B | $3.82B | $3.90B | $3.86B | $3.89B |
| Equity | $2.77B | $2.79B | $2.87B | $2.84B | $2.81B | $2.78B | $2.72B | $2.67B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $170.9M | $145.4M | $631.1M | $146.3M | $157.5M | $168.2M | $608.5M |