Company Valuation: CubeSmart

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 12,453 9,039 10,422 9,691 8,221 9,405 - -
Change - -27.41% 15.3% -7.02% -15.17% 14.41% - -
Enterprise Value (EV) 1 15,653 12,029 13,339 12,606 11,618 12,930 13,048 13,314
Change - -23.15% 10.88% -5.49% -7.84% 11.29% 0.92% 2.04%
P/E 52.2x 31.2x 25.5x 24.9x 24.7x 27.4x 27.6x 27.4x
PBR 4.48x 3.2x 3.73x 3.4x 3.01x 3.7x 3.95x 4.23x
PEG - 1.7x 0.6x -4.53x -1.6x 6.29x -49.59x 58.55x
Capitalization / Revenue 15.1x 8.95x 9.92x 9.09x 7.32x 8.26x 7.96x 7.61x
EV / Revenue 19x 11.9x 12.7x 11.8x 10.3x 11.3x 11x 10.8x
EV / EBITDA 29.9x 18.2x 19.1x 18.3x 16.4x 18.1x 17.8x 17.4x
EV / EBIT 53.9x 34.3x 26.8x 26.1x 25.9x 27.2x 27.8x 27.3x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.45 1.78 1.98 2.05 2.09 2.13 2.188 2.223
Rate of return 2.55% 4.42% 4.27% 4.78% 5.8% 5.1% 5.24% 5.32%
EPS 2 1.09 1.29 1.82 1.72 1.46 1.524 1.515 1.522
Distribution rate 133% 138% 109% 119% 143% 140% 144% 146%
Net sales 1 822.6 1,010 1,050 1,066 1,123 1,139 1,182 1,237
EBITDA 1 522.7 661.7 698.5 688.8 707 715.6 733.5 763.1
EBIT 1 290.6 351.1 497.3 483.1 448.9 475.1 469.5 488.4
Net income 1 223.5 291.3 410.8 391.2 333.8 349.9 348.3 351.4
Net Debt 1 3,200 2,990 2,916 2,915 3,397 3,524 3,643 3,909
Reference price 2 56.91 40.25 46.35 42.85 36.05 41.77 41.77 41.77
Nbr of stocks (in thousands) 218,811 224,575 224,861 226,153 228,036 225,162 - -
Announcement Date 2/24/22 2/23/23 2/29/24 2/27/25 2/26/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.42x11.35x18.07x5.1% 9.41B
34x14.24x19.85x3.66% 61.35B
31.99x14.77x17.92x4.33% 31.59B
-60.51x3.15x13.33x5.05% 9.65B
16.12x9.2x15.67x4.53% 3.02B
13.36x10.46x16.97x5.28% 2.38B
65.06x9.58x19.1x4.68% 1.9B
10.45x9.61x17.44x4.99% 1.85B
18.39x12.17x23.39x4.79% 1.2B
Average 17.36x 10.50x 17.97x 4.71% 13.59B
Weighted average by Cap. 24.66x 12.92x 18.53x 4.15%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield