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 9,144 - -
Change - -27.41% 15.3% -7.02% -15.17% 11.23% - -
Enterprise Value (EV) 1 15,653 12,029 13,339 12,606 11,618 12,579 12,702 12,871
Change - -23.15% 10.88% -5.49% -7.84% 8.27% 0.98% 1.33%
P/E 52.2x 31.2x 25.5x 24.9x 24.7x 26.3x 25.5x 24.8x
PBR 4.48x 3.2x 3.73x 3.4x 3.01x 3.63x 3.84x 4.1x
PEG - 1.7x 0.6x -4.53x -1.6x 5.35x 7.71x 8.83x
Capitalization / Revenue 15.1x 8.95x 9.92x 9.09x 7.32x 8.03x 7.78x 7.46x
EV / Revenue 19x 11.9x 12.7x 11.8x 10.3x 11x 10.8x 10.5x
EV / EBITDA 29.9x 18.2x 19.1x 18.3x 16.4x 17.8x 17.5x 17.2x
EV / EBIT 53.9x 34.3x 26.8x 26.1x 25.9x 26.7x 26x 25x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.45 1.78 1.98 2.05 2.09 2.13 2.183 2.246
Rate of return 2.55% 4.42% 4.27% 4.78% 5.8% 5.28% 5.41% 5.57%
EPS 2 1.09 1.29 1.82 1.72 1.46 1.532 1.582 1.627
Distribution rate 133% 138% 109% 119% 143% 139% 138% 138%
Net sales 1 822.6 1,010 1,050 1,066 1,123 1,139 1,175 1,226
EBITDA 1 522.7 661.7 698.5 688.8 707 708.2 726.5 748.2
EBIT 1 290.6 351.1 497.3 483.1 448.9 471.2 488 515.2
Net income 1 223.5 291.3 410.8 391.2 333.8 352.2 362.3 373.4
Net Debt 1 3,200 2,990 2,916 2,915 3,397 3,435 3,558 3,727
Reference price 2 56.91 40.25 46.35 42.85 36.05 40.33 40.33 40.33
Nbr of stocks (in thousands) 218,811 224,575 224,861 226,153 228,036 225,162 - -
Announcement Date 2/24/22 A 2/23/23 A 2/29/24 A 2/27/25 A 2/26/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.51x11.04x17.76x5.24% 9.14B
78.26x12.34x32.3x1.39% 166B
58.26x11.69x22.77x2.07% 98.61B
26.57x10.98x16.7x3.89% 85.66B
61.94x12.03x22.3x2.74% 66.41B
33.31x14.01x19.73x3.85% 58.38B
150.93x7.89x21.69x2.5% 42.75B
45.6x13.69x20.35x4.84% 37.43B
62.44x6.48x17.43x3.05% 34.34B
30.95x14.66x17.85x4.51% 30.54B
Average 57.48x 11.48x 20.89x 3.41% 62.92B
Weighted average by Cap. 61.28x 11.73x 23.31x 2.78%

Y-o-Y evolution of P/E

Valuation ratios - P/E - CubeSmart

Historical PBR trend

Valuation ratios - PBR - CubeSmart

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - CubeSmart

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - CubeSmart


Year-on-year evolution of the Yield

Valuation ratios - Yield - CubeSmart