CubeSmart

CUBENYSEReal Estate● Active

$40.17

$-0.14(-0.35%)

Market Cap$9.1B

P/E Ratio—

52W High$44.13

52W Low$35.09

Avg Volume2.3M

Open$40.33

Beta1.08

Overview

CubeSmart (CUBE) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CUBE · free cash flow · updated Jun 8, 2026

Core FCF metrics

CUBE · FCF · TTM · margin & CAGR

Free cash flow was $566.9M for FY2025 (fiscal year ending 2025-12-31), down 10.2% year-over-year The FCF margin was 50.5%. Five-year CAGR stands at +10.1%.

FY2025 Free Cash Flow$566.9M▼ -10.2% YoY

Trailing 12M (TTM)$611.0Mtrailing 4 quarters sum

FCF Margin50.5%$566.9M ÷ revenue

3-Year CAGR-1.4%FY2022 → FY2025

5-Year CAGR+10.1%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CUBE · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$611.7M(45M)$566.9M▼ 10.2%50.5%

FY2024$631.1M(0M)$631.1M▲ +3.3%59.2%

FY2023$611.1M(0M)$611.1M▲ +3.3%58.2%

FY2022$591.5M(0M)$591.5M▲ +31.7%58.6%

FY2021$449.2M(0M)$449.2M▲ +28.0%54.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CUBE · P/FCF · FCF yield · FCF per share

CubeSmart (CUBE) trades at a FCF yield of 6.70% and a price-to-free-cash-flow ratio of 15.0x. FCF per share stands at $2.67, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

6.70%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.67

TTM FCF ÷ Shares Outstanding

Price / FCF

x15.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x20.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CUBE · cash flow statement · operating / investing / financing

For FY2025, CubeSmart generated $611.7M in operating cash flow and spent 45M in capital expenditures, yielding $566.9M in free cash flow.

Operating Activities

+$611.7M

Cash from core business operations

2025-12-31

Investing Activities

−$574.2M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$104.9M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($611.7M) − |CapEx| (45M) = FCF ($566.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Real Estate)

CUBE vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

CubeSmartYOU

CUBE

$566.9M-10.2%50.5%

11%

American Tower Corporation

AMT

$3.78B+2.2%35.5%

76%

Simon Property Group, Inc.

Real Estate · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

CubeSmart (CUBE) reported free cash flow of $566.9M for FY2025 (fiscal year ending 2025-12-31), down 10.2% year-over-year. The FCF margin was 50.5%.

Based on available data, CubeSmart has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $631.1M in FY2024. The 5-year CAGR stands at +10.1%.

CubeSmart's FCF yield is 6.70% and price-to-FCF ratio is 15.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CUBE free cash flow · 8 questions

CubeSmart free cash flow was $566.9M for FY2025, down 10.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $611.0M.

CUBE free cash flowCUBE FCFCUBE FCF 2025CUBE free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · CubeSmart · CubeSmart SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026