CubeSmart (CUBE) - Net Assets
Based on the latest financial reports, CubeSmart (CUBE) has net assets worth $2.78 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($6.64 Billion) and total liabilities ($3.86 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how resilient are CubeSmart's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.78 Billion |
| % of Total Assets | 41.88% |
| Annual Growth Rate | 13.67% |
| 5-Year Change | -7.21% |
| 10-Year Change | 62.16% |
| Growth Volatility | 41.04 |
CubeSmart - Net Assets Trend (2000–2025)
This chart illustrates how CubeSmart's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of CubeSmart for the complete picture of this company's asset base.
Annual Net Assets for CubeSmart (2000–2025)
The table below shows the annual net assets of CubeSmart from 2000 to 2025. For live valuation and market cap data, see CubeSmart stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $2.78 Billion | -5.82% |
| 2024-12-31 | $2.95 Billion | +2.54% |
| 2023-12-31 | $2.88 Billion | -0.59% |
| 2022-12-31 | $2.90 Billion | -3.35% |
| 2021-12-31 | $3.00 Billion | +43.45% |
| 2020-12-31 | $2.09 Billion | +11.81% |
| 2019-12-31 | $1.87 Billion | +5.48% |
| 2018-12-31 | $1.77 Billion | +4.89% |
| 2017-12-31 | $1.69 Billion | -1.51% |
| 2016-12-31 | $1.72 Billion | +0.27% |
| 2015-12-31 | $1.71 Billion | +14.11% |
| 2014-12-31 | $1.50 Billion | +32.75% |
| 2013-12-31 | $1.13 Billion | +8.82% |
| 2012-12-31 | $1.04 Billion | +4.28% |
| 2011-12-31 | $995.32 Million | +30.04% |
| 2010-12-31 | $765.41 Million | +3.53% |
| 2009-12-31 | $739.33 Million | +29.95% |
| 2008-12-31 | $568.95 Million | -12.49% |
| 2007-12-31 | $650.18 Million | -10.42% |
| 2006-12-31 | $725.83 Million | -10.63% |
| 2005-12-31 | $812.15 Million | +105.49% |
| 2004-12-31 | $395.22 Million | +181.75% |
| 2003-12-31 | $140.27 Million | -0.40% |
| 2002-12-31 | $140.83 Million | -0.94% |
| 2001-12-31 | $142.16 Million | +25.81% |
| 2000-12-31 | $113.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to CubeSmart's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 158513500000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $2.27 Million | 0.08% |
| Other Comprehensive Income | $-249.00K | -0.01% |
| Other Components | $4.30 Billion | 158.21% |
| Total Equity | $2.72 Billion | 100.00% |
CubeSmart Competitors by Market Cap
The table below lists competitors of CubeSmart ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sprott Physical Gold and Silver Trust
TO:CEF
|
$9.12 Billion |
|
Flowserve Corporation
NYSE:FLS
|
$9.12 Billion |
|
ALSTOM S.A. UNSP.ADR 1/10
F:AOMU
|
$9.13 Billion |
|
Oracle Financial Services Software Limited
NSE:OFSS
|
$9.15 Billion |
|
Vietnam Technological And Commercial Joint Stock Bank
VN:TCB
|
$9.11 Billion |
|
Indra A
MC:IDR
|
$9.11 Billion |
|
AeroVironment Inc
NASDAQ:AVAV
|
$9.09 Billion |
|
Suzhou Everbright Photonics Co. Ltd. A
SHG:688048
|
$9.08 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in CubeSmart's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,871,856,000 to 2,719,443,000, a change of -152,413,000 (-5.3%).
- Net income of 333,782,000 contributed positively to equity growth.
- Dividend payments of 476,309,000 reduced retained earnings.
- Share repurchases of 36,022,000 reduced equity.
- Other comprehensive income increased equity by 81,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $333.78 Million | +12.27% |
| Dividends Paid | $476.31 Million | -17.51% |
| Share Repurchases | $36.02 Million | -1.32% |
| Other Comprehensive Income | $81.00K | +0.0% |
| Other Changes | $26.05 Million | +0.96% |
| Total Change | $- | -5.31% |
Book Value vs Market Value Analysis
This analysis compares CubeSmart's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.38x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 11.99x to 3.38x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2000-12-31 | $3.35 | $40.14 | x |
| 2001-12-31 | $4.21 | $40.14 | x |
| 2002-12-31 | $4.17 | $40.14 | x |
| 2003-12-31 | $3.90 | $40.14 | x |
| 2004-12-31 | $9.59 | $40.14 | x |
| 2005-12-31 | $16.66 | $40.14 | x |
| 2006-12-31 | $10.95 | $40.14 | x |
| 2007-12-31 | $9.66 | $40.14 | x |
| 2008-12-31 | $9.08 | $40.14 | x |
| 2009-12-31 | $9.79 | $40.14 | x |
| 2010-12-31 | $7.70 | $40.14 | x |
| 2011-12-31 | $9.28 | $40.14 | x |
| 2012-12-31 | $7.95 | $40.14 | x |
| 2013-12-31 | $7.93 | $40.14 | x |
| 2014-12-31 | $9.60 | $40.14 | x |
| 2015-12-31 | $9.66 | $40.14 | x |
| 2016-12-31 | $9.22 | $40.14 | x |
| 2017-12-31 | $8.98 | $40.14 | x |
| 2018-12-31 | $9.22 | $40.14 | x |
| 2019-12-31 | $9.39 | $40.14 | x |
| 2020-12-31 | $9.40 | $40.14 | x |
| 2021-12-31 | $14.01 | $40.14 | x |
| 2022-12-31 | $12.51 | $40.14 | x |
| 2023-12-31 | $12.37 | $40.14 | x |
| 2024-12-31 | $12.64 | $40.14 | x |
| 2025-12-31 | $11.87 | $40.14 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently CubeSmart utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.27%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 29.72%
- • Asset Turnover: 0.17x
- • Equity Multiplier: 2.44x
- Recent ROE (12.27%) is above the historical average (4.97%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 7.30% | 15.54% | 0.20x | 2.37x | $-3.05 Million |
| 2001 | 4.85% | 11.07% | 0.16x | 2.76x | $-7.32 Million |
| 2002 | 6.91% | 12.71% | 0.18x | 2.98x | $-4.35 Million |
| 2003 | 12.32% | 20.08% | 0.20x | 3.13x | $3.06 Million |
| 2004 | -9.00% | -35.31% | 0.12x | 2.16x | $-68.28 Million |
| 2005 | 0.40% | 1.87% | 0.10x | 2.11x | $-67.52 Million |
| 2006 | -1.36% | -4.01% | 0.13x | 2.57x | $-71.30 Million |
| 2007 | -2.35% | -5.71% | 0.14x | 3.04x | $-68.64 Million |
| 2008 | 0.53% | 1.18% | 0.15x | 3.06x | $-49.50 Million |
| 2009 | -0.13% | -0.43% | 0.14x | 2.30x | $-70.47 Million |
| 2010 | -1.02% | -3.41% | 0.15x | 2.04x | $-79.81 Million |
| 2011 | -0.04% | -0.17% | 0.13x | 1.96x | $-95.99 Million |
| 2012 | 0.18% | 0.64% | 0.13x | 2.17x | $-97.16 Million |
| 2013 | 3.79% | 13.02% | 0.13x | 2.16x | $-67.78 Million |
| 2014 | 1.82% | 7.00% | 0.14x | 1.92x | $-118.42 Million |
| 2015 | 4.73% | 17.48% | 0.14x | 1.90x | $-86.62 Million |
| 2016 | 5.31% | 17.23% | 0.15x | 2.10x | $-77.63 Million |
| 2017 | 8.24% | 24.03% | 0.16x | 2.18x | $-28.63 Million |
| 2018 | 9.59% | 27.41% | 0.16x | 2.20x | $-7.08 Million |
| 2019 | 9.40% | 25.82% | 0.16x | 2.24x | $-10.82 Million |
| 2020 | 9.04% | 24.38% | 0.14x | 2.61x | $-17.60 Million |
| 2021 | 7.78% | 27.17% | 0.13x | 2.28x | $-63.67 Million |
| 2022 | 10.31% | 28.85% | 0.16x | 2.24x | $8.64 Million |
| 2023 | 14.68% | 39.11% | 0.17x | 2.22x | $130.87 Million |
| 2024 | 13.62% | 36.69% | 0.17x | 2.23x | $103.99 Million |
| 2025 | 12.27% | 29.72% | 0.17x | 2.44x | $61.84 Million |
Industry Comparison
This section compares CubeSmart's net assets metrics with peer companies in the REIT - Industrial industry.
Industry Context
- Industry: REIT - Industrial
- Average net assets among peers: $1,792,244,042
- Average return on equity (ROE) among peers: 3.29%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| CubeSmart (CUBE) | $2.78 Billion | 7.30% | 1.39x | $9.12 Billion |
| Americold Realty Trust (COLD) | $261.01 Million | -8.11% | 8.19x | $3.44 Billion |
| EastGroup Properties Inc (EGP) | $85.00 Million | 8.47% | 0.82x | $10.01 Billion |
| Extra Space Storage Inc (EXR) | $4.08 Billion | 21.10% | 1.98x | $29.99 Billion |
| First Industrial Realty Trust Inc (FR) | $1.01 Billion | 5.16% | 1.26x | $7.81 Billion |
| Innovative Industrial Properties Inc (IIPR) | $1.52 Billion | 4.31% | 0.16x | $1.43 Billion |
| Industrial Logistics Properties Trust (ILPT) | $1.16 Billion | -9.30% | 3.79x | $375.26 Million |
| Lineage, Inc. Common Stock (LINE) | $6.02 Billion | -1.28% | 2.13x | $8.46 Billion |
| LXP Industrial Trust (LXP) | $1.99 Billion | 9.21% | 0.75x | $2.82 Billion |
| Modiv Inc (MDV) | $-61.62K | 0.00% | 0.00x | $152.69 Million |
About CubeSmart
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,514 self-storage properties across the United States. According to the 2025 Self Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the U.S. The Company's mission is to simplify the organizational and logistical challenges created by the ma… Read more