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 9,004 - -
Change - -27.41% 15.3% -7.02% -15.17% 9.53% - -
Enterprise Value (EV) 1 15,653 12,029 13,339 12,606 11,618 12,513 12,666 12,914
Change - -23.15% 10.88% -5.49% -7.84% 7.71% 1.22% 1.95%
P/E 52.2x 31.2x 25.5x 24.9x 24.7x 27.2x 26.6x 25.9x
PBR 4.48x 3.2x 3.73x 3.4x 3.01x 3.53x 3.76x 4.03x
PEG - 1.7x 0.6x -4.53x -1.6x 110.01x 12.12x 9.68x
Capitalization / Revenue 15.1x 8.95x 9.92x 9.09x 7.32x 7.93x 7.68x 7.36x
EV / Revenue 19x 11.9x 12.7x 11.8x 10.3x 11x 10.8x 10.6x
EV / EBITDA 29.9x 18.2x 19.1x 18.3x 16.4x 17.4x 17.3x 16.9x
EV / EBIT 53.9x 34.3x 26.8x 26.1x 25.9x 27.2x 27.1x 26.8x
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% 5.37% 5.51% 5.6%
EPS 2 1.09 1.29 1.82 1.72 1.46 1.464 1.496 1.536
Distribution rate 133% 138% 109% 119% 143% 146% 147% 145%
Net sales 1 822.6 1,010 1,050 1,066 1,123 1,136 1,173 1,223
EBITDA 1 522.7 661.7 698.5 688.8 707 719 734.1 762.5
EBIT 1 290.6 351.1 497.3 483.1 448.9 460.2 466.6 482.5
Net income 1 223.5 291.3 410.8 391.2 333.8 335.1 342.2 351.1
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 39.77 39.77 39.77
Nbr of stocks (in thousands) 2,18,811 2,24,575 2,24,861 2,26,153 2,28,036 2,26,414 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.17x11.02x17.4x5.37% 900.45Cr
30.44x13.18x18.68x3.78% 5.59TCr
31.48x14.79x18.1x4.51% 3.07TCr
-58.65x3.29x13.99x4.93% 984.69Cr
54.56x8.76x13.69x5.14% 343.26Cr
9.85x9.13x15.49x4.57% 295.31Cr
12.83x10.44x16.98x5.28% 234.68Cr
62.53x9.77x18.33x5.09% 179.94Cr
9.88x9.51x16.78x5.12% 177.66Cr
19.16x12.47x24.06x4.59% 122.23Cr
Average 19.93x 10.23x 17.35x 4.84% 1.19TCr
Weighted average by Cap. 22.99x 12.22x 17.81x 4.32%

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