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 9,335 - -
Change - -27.41% 15.3% -7.02% -15.17% 13.56% - -
Enterprise Value (EV) 1 15,653 12,029 13,339 12,606 11,618 12,816 12,951 13,174
Change - -23.15% 10.88% -5.49% -7.84% 10.31% 1.05% 1.73%
P/E 52.2x 31.2x 25.5x 24.9x 24.7x 26.6x 27x 26.5x
PBR 4.48x 3.2x 3.73x 3.4x 3.01x 3.68x 3.92x 4.2x
PEG - 1.7x 0.6x -4.53x -1.6x 4.03x -21.29x 14.71x
Capitalization / Revenue 15.1x 8.95x 9.92x 9.09x 7.32x 8.24x 7.96x 7.69x
EV / Revenue 19x 11.9x 12.7x 11.8x 10.3x 11.3x 11x 10.9x
EV / EBITDA 29.9x 18.2x 19.1x 18.3x 16.4x 17.9x 17.7x 17.5x
EV / EBIT 53.9x 34.3x 26.8x 26.1x 25.9x 27.4x 27.5x 26.8x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.45 1.78 1.98 2.05 2.09 2.131 2.188 2.223
Rate of return 2.55% 4.42% 4.27% 4.78% 5.8% 5.14% 5.28% 5.36%
EPS 2 1.09 1.29 1.82 1.72 1.46 1.556 1.537 1.564
Distribution rate 133% 138% 109% 119% 143% 137% 142% 142%
Net sales 1 822.6 1,010 1,050 1,066 1,123 1,133 1,172 1,213
EBITDA 1 522.7 661.7 698.5 688.8 707 715.3 731 753.4
EBIT 1 290.6 351.1 497.3 483.1 448.9 468.1 471.3 490.9
Net income 1 223.5 291.3 410.8 391.2 333.8 349.9 351.4 357.9
Net Debt 1 3,200 2,990 2,916 2,915 3,397 3,480 3,615 3,839
Reference price 2 56.91 40.25 46.35 42.85 36.05 41.46 41.46 41.46
Nbr of stocks (in thousands) 218,811 224,575 224,861 226,153 228,036 225,162 - -
Announcement Date 24/02/22 23/02/23 29/02/24 27/02/25 26/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.64x11.31x17.92x5.14% 9.34B
32.56x14.36x20.17x3.7% 60.74B
32.14x14.93x18.04x4.4% 31.25B
-59.41x3.18x13.41x5.13% 9.51B
13.7x8.81x15.44x4.99% 2.76B
13.44x10.53x16.94x5.28% 2.4B
57.75x9.62x18.19x4.66% 1.91B
11.25x9.36x17.01x5.24% 1.77B
13.34x12.1x22.73x4% 1.07B
Average 15.71x 10.47x 17.76x 4.73% 13.42B
Weighted average by Cap. 23.85x 13.02x 18.69x 4.2%

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