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 9,484 - -
Change - -27.41% 15.3% -7.02% -15.17% 15.37% - -
Enterprise Value (EV) 1 15,653 12,029 13,339 12,606 11,618 12,998 13,150 13,398
Change - -23.15% 10.88% -5.49% -7.84% 11.88% 1.17% 1.89%
P/E Ratio 52.2x 31.2x 25.5x 24.9x 24.7x 28.8x 28.1x 27.5x
PBR 4.48x 3.2x 3.73x 3.4x 3.01x 3.71x 3.96x 4.24x
PEG - 1.7x 0.6x -4.53x -1.6x -55.04x 11.37x 12.2x
Capitalization / Revenue 15.1x 8.95x 9.92x 9.09x 7.32x 8.35x 8.09x 7.75x
EV / Revenue 19x 11.9x 12.7x 11.8x 10.3x 11.4x 11.2x 11x
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 28.2x 28.2x 27.8x
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% 5.1% 5.23% 5.32%
EPS 2 1.09 1.29 1.82 1.72 1.46 1.452 1.488 1.522
Distribution rate 133% 138% 109% 119% 143% 147% 147% 146%
Net sales 1 822.6 1,010 1,050 1,066 1,123 1,136 1,173 1,223
EBITDA 1 522.7 661.7 698.5 688.8 707 719.1 735.6 762.5
EBIT 1 290.6 351.1 497.3 483.1 448.9 460.2 466.6 482.5
Net income 1 223.5 291.3 410.8 391.2 333.8 333.4 340.8 348.3
Net Debt 1 3,200 2,990 2,916 2,915 3,397 3,513 3,665 3,913
Reference price 2 56.91 40.25 46.35 42.85 36.05 41.89 41.89 41.89
Nbr of stocks (in thousands) 218,811 224,575 224,861 226,153 228,036 226,414 - -
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 Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.94x11.45x18.06x5.12% 9.48B
31.13x13.45x18.94x3.7% 57.22B
32.45x15.09x18.35x4.37% 31.82B
-58.26x3.29x13.99x4.82% 10.11B
55.84x9.37x14.8x5.02% 3.53B
9x8.66x14.7x5% 2.81B
9.52x9.86x15.83x5.71% 2.27B
74.79x9.8x17.73x5.1% 1.78B
9.77x9.45x16.32x5.18% 1.8B
20.02x12.79x24.69x4.4% 1.28B
Average 21.32x 10.32x 17.34x 4.84% 12.21B
Weighted average by Cap. 23.91x 12.47x 18.04x 4.23%

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

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