CubeSmart
NYSE:CUBE

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CubeSmart
NYSE:CUBE
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Price: 49 USD 0.8% Market Closed
Market Cap: 11B USD
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Income Statement

Earnings Waterfall
CubeSmart

Revenue
1.1B USD
Cost of Revenue
-313.3m USD
Gross Profit
750.3m USD
Operating Expenses
-257.2m USD
Operating Income
493.1m USD
Other Expenses
-91.2m USD
Net Income
402m USD

Income Statement
CubeSmart

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Income Statement
Currency: USD
Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024
Revenue
Revenue
359
N/A
377
+5%
393
+4%
411
+4%
430
+5%
445
+3%
460
+3%
476
+4%
493
+3%
510
+4%
524
+3%
536
+2%
548
+2%
559
+2%
569
+2%
578
+2%
588
+2%
598
+2%
608
+2%
619
+2%
632
+2%
644
+2%
655
+2%
660
+1%
666
+1%
679
+2%
704
+4%
739
+5%
779
+5%
823
+6%
872
+6%
922
+6%
971
+5%
1 010
+4%
1 028
+2%
1 040
+1%
1 046
+1%
1 050
+0%
1 055
+0%
1 061
+1%
1 064
+0%
Gross Profit
Cost of Revenue
(128)
(133)
(138)
(144)
(150)
(153)
(156)
(159)
(162)
(166)
(171)
(174)
(179)
(182)
(186)
(190)
(192)
(197)
(200)
(200)
(205)
(210)
(213)
(217)
(220)
(224)
(227)
(237)
(245)
(231)
(262)
(271)
(284)
(271)
(294)
(295)
(296)
(270)
(301)
(309)
(313)
Gross Profit
231
N/A
244
+6%
256
+5%
267
+4%
280
+5%
291
+4%
304
+4%
317
+4%
331
+4%
344
+4%
354
+3%
363
+2%
369
+2%
377
+2%
383
+2%
388
+1%
396
+2%
401
+1%
408
+2%
419
+3%
428
+2%
434
+2%
442
+2%
443
+0%
446
+1%
456
+2%
477
+5%
503
+5%
535
+6%
592
+11%
611
+3%
651
+6%
687
+6%
739
+8%
734
-1%
745
+1%
750
+1%
780
+4%
755
-3%
752
0%
750
0%
Operating Income
Operating Expenses
(145)
(155)
(166)
(173)
(180)
(180)
(183)
(187)
(191)
(195)
(195)
(191)
(185)
(180)
(178)
(175)
(175)
(181)
(185)
(192)
(201)
(202)
(207)
(207)
(203)
(198)
(232)
(247)
(266)
(301)
(312)
(339)
(364)
(388)
(333)
(305)
(276)
(283)
(255)
(256)
(257)
Selling, General & Administrative
(28)
(28)
(29)
(29)
(29)
(28)
(29)
(30)
(31)
(33)
(34)
(35)
(35)
(35)
(34)
(33)
(35)
(38)
(38)
(40)
(40)
(39)
(41)
(42)
(43)
(41)
(44)
(45)
(46)
(69)
(51)
(54)
(55)
(77)
(55)
(55)
(56)
(82)
(58)
(58)
(58)
Depreciation & Amortization
(117)
(127)
(137)
(144)
(151)
(152)
(153)
(157)
(160)
(162)
(161)
(156)
(150)
(146)
(143)
(141)
(140)
(143)
(147)
(152)
(161)
(164)
(166)
(165)
(160)
(157)
(170)
(184)
(202)
(232)
(261)
(286)
(309)
(311)
(278)
(250)
(220)
(201)
(202)
(202)
(204)
Other Operating Expenses
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(18)
(18)
(18)
0
0
0
0
0
0
0
0
0
5
5
5
Operating Income
86
N/A
89
+4%
90
+1%
94
+4%
100
+7%
111
+11%
121
+9%
130
+8%
140
+7%
150
+7%
159
+6%
172
+8%
184
+7%
197
+7%
206
+4%
213
+4%
221
+4%
220
0%
223
+2%
227
+2%
227
+0%
232
+2%
235
+1%
236
+0%
243
+3%
258
+6%
245
-5%
256
+4%
269
+5%
291
+8%
299
+3%
311
+4%
322
+4%
351
+9%
401
+14%
440
+10%
474
+8%
497
+5%
500
+0%
496
-1%
493
-1%
Pre-Tax Income
Interest Income Expense
(54)
(55)
(53)
(51)
(47)
(47)
(48)
(50)
(53)
(56)
(58)
(59)
(60)
(61)
(62)
(63)
(64)
(65)
(67)
(59)
(62)
(64)
(66)
(77)
(78)
(78)
(79)
(79)
(79)
(61)
(65)
(68)
(27)
(48)
(47)
(48)
(92)
(91)
(92)
(92)
(92)
Non-Reccuring Items
(4)
(8)
(6)
(6)
(6)
(3)
(5)
(7)
(7)
(7)
(5)
(3)
(2)
(1)
0
0
(0)
0
0
0
0
0
0
0
0
(18)
0
0
0
(34)
(30)
(31)
(31)
(11)
(1)
0
0
5
0
0
0
Gain/Loss on Disposition of Assets
(1)
1
0
0
0
18
0
0
0
0
0
0
0
0
0
0
0
11
0
0
0
2
0
0
0
7
0
0
36
33
0
0
4
0
0
0
0
0
0
0
0
Total Other Income
(1)
(0)
(0)
(0)
(0)
(0)
18
19
19
1
1
0
1
1
1
1
0
0
10
10
12
1
2
2
0
(0)
7
7
1
3
22
22
(12)
0
(0)
(0)
(0)
1
2
1
2
Pre-Tax Income
26
N/A
26
+1%
31
+16%
37
+19%
47
+27%
79
+69%
86
+9%
93
+8%
99
+7%
88
-11%
98
+11%
110
+13%
123
+11%
136
+11%
145
+7%
151
+4%
157
+4%
166
+6%
167
+1%
178
+7%
177
0%
171
-3%
173
+1%
162
-6%
167
+3%
168
+0%
173
+3%
184
+7%
227
+23%
231
+2%
226
-2%
234
+4%
257
+10%
293
+14%
352
+20%
392
+11%
381
-3%
412
+8%
409
-1%
405
-1%
403
-1%
Net Income
Tax Provision
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Income from Continuing Operations
26
26
31
37
47
79
86
93
99
88
98
110
123
136
145
151
157
166
167
178
177
171
173
162
167
168
173
184
227
231
226
234
257
293
352
392
381
412
409
405
403
Income to Minority Interest
0
(0)
(0)
(0)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(2)
(1)
(1)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(2)
(3)
(4)
(7)
(7)
(6)
(4)
(2)
(1)
(2)
(2)
(2)
(2)
(2)
(1)
(1)
Net Income (Common)
38
N/A
20
-46%
24
+19%
30
+24%
40
+33%
72
+79%
79
+10%
86
+8%
92
+8%
80
-13%
91
+14%
104
+15%
118
+13%
134
+14%
144
+7%
150
+4%
155
+4%
164
+6%
165
+1%
176
+7%
175
0%
169
-4%
172
+1%
161
-6%
165
+3%
166
+0%
169
+2%
180
+6%
221
+23%
224
+1%
220
-2%
230
+4%
255
+11%
291
+14%
351
+20%
390
+11%
380
-3%
411
+8%
408
-1%
404
-1%
402
0%
EPS (Diluted)
0.24
N/A
0.13
-46%
0.15
+15%
0.18
+20%
0.23
+28%
0.42
+83%
0.45
+7%
0.49
+9%
0.52
+6%
0.45
-13%
0.51
+13%
0.58
+14%
0.66
+14%
0.74
+12%
0.8
+8%
0.83
+4%
0.85
+2%
0.88
+4%
0.89
+1%
0.94
+6%
0.9
-4%
0.88
-2%
0.9
+2%
0.84
-7%
0.86
+2%
0.85
-1%
0.84
-1%
0.88
+5%
1.1
+25%
1.09
-1%
0.97
-11%
1.01
+4%
1.14
+13%
1.29
+13%
1.55
+20%
1.72
+11%
1.67
-3%
1.82
+9%
1.8
-1%
1.78
-1%
1.77
-1%

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