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Side-by-side financial comparison of CubeSmart (CUBE) and OneWater Marine Inc. (ONEW). Click either name above to swap in a different company.
OneWater Marine Inc. is the larger business by last-quarter revenue ($442.3M vs $281.9M, roughly 1.6× CubeSmart). CubeSmart runs the higher net margin — 29.4% vs -2.9%, a 32.3% gap on every dollar of revenue. On growth, CubeSmart posted the faster year-over-year revenue change (3.3% vs -8.5%). Over the past eight quarters, OneWater Marine Inc.'s revenue compounded faster (8.2% CAGR vs 2.9%).
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.
OneWater Marine Inc. is a leading recreational marine retailer headquartered in the U.S. It sells new and pre-owned boats, yachts and marine parts, offers maintenance, repair and financing services, and serves individual and commercial leisure boating customers across North America through its extensive network of local dealerships.
CUBE vs ONEW — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $281.9M | $442.3M |
| Net Profit | $82.8M | $-12.9M |
| Gross Margin | — | 23.9% |
| Operating Margin | 40.2% | 1.7% |
| Net Margin | 29.4% | -2.9% |
| Revenue YoY | 3.3% | -8.5% |
| Net Profit YoY | -6.8% | — |
| EPS (diluted) | $0.36 | $-0.78 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q2 26 | — | $442.3M | ||
| Q1 26 | $281.9M | $380.6M | ||
| Q4 25 | $282.7M | $380.6M | ||
| Q3 25 | $285.1M | $460.1M | ||
| Q2 25 | $282.3M | $552.9M | ||
| Q1 25 | $273.0M | $483.5M | ||
| Q4 24 | $267.7M | $375.8M | ||
| Q3 24 | $270.9M | $377.9M |
| Q2 26 | — | $-12.9M | ||
| Q1 26 | $82.8M | $-7.7M | ||
| Q4 25 | $77.7M | $-7.7M | ||
| Q3 25 | $82.4M | $-113.0M | ||
| Q2 25 | $82.4M | $10.7M | ||
| Q1 25 | $88.7M | $-368.0K | ||
| Q4 24 | $101.9M | $-12.0M | ||
| Q3 24 | $101.0M | $-9.2M |
| Q2 26 | — | 23.9% | ||
| Q1 26 | — | 23.5% | ||
| Q4 25 | 68.7% | 23.5% | ||
| Q3 25 | 68.1% | 22.6% | ||
| Q2 25 | 68.5% | 23.3% | ||
| Q1 25 | 69.6% | 22.8% | ||
| Q4 24 | 71.7% | 22.4% | ||
| Q3 24 | 69.8% | 24.0% |
| Q2 26 | — | 1.7% | ||
| Q1 26 | 40.2% | — | ||
| Q4 25 | — | -1.4% | ||
| Q3 25 | — | -28.3% | ||
| Q2 25 | — | 5.5% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | — | 1.2% |
| Q2 26 | — | -2.9% | ||
| Q1 26 | 29.4% | -2.0% | ||
| Q4 25 | 27.5% | -2.0% | ||
| Q3 25 | 28.9% | -24.5% | ||
| Q2 25 | 29.2% | 1.9% | ||
| Q1 25 | 32.5% | -0.1% | ||
| Q4 24 | 38.1% | -3.2% | ||
| Q3 24 | 37.3% | -2.4% |
| Q2 26 | — | $-0.78 | ||
| Q1 26 | $0.36 | $-0.47 | ||
| Q4 25 | $0.35 | — | ||
| Q3 25 | $0.36 | — | ||
| Q2 25 | $0.36 | — | ||
| Q1 25 | $0.39 | — | ||
| Q4 24 | $0.45 | — | ||
| Q3 24 | $0.44 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $269.4M |
| Total Assets | $6.6B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $5.8M | — | ||
| Q3 25 | $108.4M | — | ||
| Q2 25 | $8.7M | — | ||
| Q1 25 | $10.8M | — | ||
| Q4 24 | $71.6M | — | ||
| Q3 24 | $43.5M | — |
| Q2 26 | — | $269.4M | ||
| Q1 26 | $2.7B | $277.5M | ||
| Q4 25 | $2.7B | $277.5M | ||
| Q3 25 | $2.8B | $285.0M | ||
| Q2 25 | $2.8B | $393.2M | ||
| Q1 25 | $2.8B | $381.6M | ||
| Q4 24 | $2.9B | $354.8M | ||
| Q3 24 | $2.8B | $360.8M |
| Q2 26 | — | $1.4B | ||
| Q1 26 | $6.6B | $1.4B | ||
| Q4 25 | $6.6B | $1.4B | ||
| Q3 25 | $6.8B | $1.4B | ||
| Q2 25 | $6.7B | $1.5B | ||
| Q1 25 | $6.7B | $1.6B | ||
| Q4 24 | $6.4B | $1.6B | ||
| Q3 24 | $6.2B | $1.6B |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CUBE
| Rental income | $239.9M | 85% |
| Other | $32.1M | 11% |
| Property management fee income | $9.9M | 4% |
ONEW
| New boat | $272.0M | 62% |
| Pre-owned boat | $94.4M | 21% |
| Service, parts & other | $61.9M | 14% |
| Finance & insurance income | $14.0M | 3% |
