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 9,530 - -
Change - -27.41% 15.3% -7.02% -15.17% 15.92% - -
Enterprise Value (EV) 1 15,653 12,029 13,339 12,606 11,618 13,038 13,191 13,439
Change - -23.15% 10.88% -5.49% -7.84% 12.23% 1.17% 1.88%
P/E 52.2x 31.2x 25.5x 24.9x 24.7x 28.7x 28.3x 27.7x
PBR 4.48x 3.2x 3.73x 3.4x 3.01x 3.73x 3.98x 4.26x
PEG - 1.7x 0.6x -4.53x -1.6x 86.22x 16.89x 12.57x
Capitalization / Revenue 15.1x 8.95x 9.92x 9.09x 7.32x 8.38x 8.05x 7.71x
EV / Revenue 19x 11.9x 12.7x 11.8x 10.3x 11.5x 11.1x 10.9x
EV / EBITDA 29.9x 18.2x 19.1x 18.3x 16.4x 18.1x 17.9x 17.6x
EV / EBIT 53.9x 34.3x 26.8x 26.1x 25.9x 28.3x 28.3x 27.9x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.45 1.78 1.98 2.05 2.09 2.135 2.192 2.229
Rate of return 2.55% 4.42% 4.27% 4.78% 5.8% 5.07% 5.21% 5.3%
EPS 2 1.09 1.29 1.82 1.72 1.46 1.465 1.489 1.522
Distribution rate 133% 138% 109% 119% 143% 146% 147% 146%
Net sales 1 822.6 1,010 1,050 1,066 1,123 1,137 1,184 1,237
EBITDA 1 522.7 661.7 698.5 688.8 707 718.5 736.1 763.1
EBIT 1 290.6 351.1 497.3 483.1 448.9 460.2 466.6 482.5
Net income 1 223.5 291.3 410.8 391.2 333.8 335.1 342.3 351.4
Net Debt 1 3,200 2,990 2,916 2,915 3,397 3,509 3,662 3,909
Reference price 2 56.91 40.25 46.35 42.85 36.05 42.09 42.09 42.09
Nbr of stocks (in thousands) 218,811 224,575 224,861 226,153 228,036 226,414 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.73x11.46x18.15x5.07% 9.53B
30.81x13.53x18.97x3.73% 56.62B
32.12x14.95x18.3x4.44% 31.21B
-55.39x3.21x13.64x5.13% 9.43B
15.93x9.13x15.57x4.58% 2.94B
13.2x10.36x16.82x5.34% 2.33B
65.88x9.63x18.45x4.62% 1.92B
10.27x9.51x17.26x5.08% 1.79B
18.25x12.11x23.29x4.83% 1.18B
Average 17.76x 10.43x 17.83x 4.76% 12.99B
Weighted average by Cap. 23.45x 12.59x 18.17x 4.24%

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