CUBE CubeSmart margins

Relative Growth: Rel. Growth: 55

Relative Strength: Rel. Strength: 74

Relative Valuation: Rel. Valuation: 23

Relative Profitability: Rel. Profitability: 72

Gross margin

67.6%

Operating margin

40.8%

EBITDA margin

62%

Net margin

30.2%

Based on the latest figures, CubeSmart reports a gross margin of 67.6%, an operating margin of 40.8%, an EBITDA margin of 62%, and a net margin of 30.2%. The company's available margins all deteriorated, with EBITDA margin reporting the strongest contraction of 2.4 percentage points.

CUBE margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, CubeSmart recorded average margins of 69.73% gross, 43.45% operating, 64.65% EBITDA, and 34.23% net. Compared with their three-year averages, all four current margins are lower.

CUBE margin expansion

Year-over-year margin changes in percentage points

CubeSmart's gross margin contracted by 1.8 percentage points, operating margin by 0.9 percentage points, EBITDA margin by 2.4 percentage points, and net margin by 2 percentage points, led by EBITDA margin with a decline of 2.4 percentage points.

Gross margin expansion

-1.8pp

Operating margin expansion

-0.9pp

EBITDA margin expansion

-2.4pp

Net margin expansion

-2pp

CUBE Gross margin

The average gross margin for CubeSmart was 69.73% over the last 3 years. As of the latest period, the current gross margin for CubeSmart is 67.6%, 2.1 percentage points below its three-year average. The gross margin for CubeSmart moved between 67.6% in Sep 2026 and 71.9% in Dec 2023.

CUBE Operating margin

CubeSmart's operating margin averaged 43.45% over the last 3 years. Compared with its three-year average, CubeSmart's current operating margin is 40.8% and is 2.7 percentage points below its three-year average. Over the last 3 years, CubeSmart's operating margin peaked at 47.3% in Dec 2023 and reached a low of 39.5% in Mar 2026.

CUBE EBITDA margin

Over the last 3 years, CubeSmart's EBITDA margin averaged 64.65%. As of the latest period, CubeSmart's current EBITDA margin is 62%, which is 2.7 percentage points below its three-year average. During this period, EBITDA margin reached a high of 67.5% in Dec 2023 and a low of 62% in Sep 2026.

CUBE Net margin

Over the last 3 years, CubeSmart recorded an average net margin of 34.23%. CubeSmart currently reports a net margin of 30.2%, 4 percentage points below its three-year average. The highest net margin for CubeSmart was 39.1% in Dec 2023, while the lowest was 28.9% in Mar 2026.

CUBE margin group comparison

Margins compared with peer-group, industry and sector averages

CubeSmart's gross margin of 67.6% is above the Real Estate sector and its peers average. In comparison with its Real Estate sector average of 60.8%, CubeSmart's gross margin is 11% higher.

CUBE margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is CubeSmart's gross margin?

As of Sep 30, 2026, CUBE has a gross margin of 67.6%.

What is CubeSmart's operating margin?

The current operating margin for CUBE is 40.8% as of Sep 30, 2026.

What is CubeSmart's EBITDA margin?

For the period ending Sep 30, 2026, CUBE recorded an EBITDA margin of 62%.

What is CubeSmart's net margin?

For the period ending Sep 30, 2026, CUBE recorded a net margin of 30.2%.

What are the average margins of CUBE?

Over the past 3 years, CUBE reported average margins of 69.7% gross, 43.5% operating, 64.7% EBITDA, and 34.2% net.

What are the highest historical margins of CUBE?

Over the last 5 years, CubeSmart's highest margins were 71.9% gross in Dec 2023, 47.3% operating in Dec 2023, 71% EBITDA in Jun 2023, and 39.1% net in Dec 2023.

What are the lowest historical margins of CUBE?

Over this 5-year history, CubeSmart's margins fell as low as 67.6% gross in Sep 2026, 33.2% operating in Sep 2022, 62% EBITDA in Sep 2026, and 24.9% net in Jun 2022.