CubeSmart Financial Ratios — CUBE Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-0.02	0.09	1.84	1.03	2.64	2.67	3.83	4.49	4.35	3.76	3.95	4.52	6.55	6.2	5.12
Return on Capital (%)	- -	- -	11.62	10.09	16.68	15.88	19.31	22.58	22.36	16.85	15.35	19.38	28.19	27.91	24.55
Return on Invested Capital (%)	- -	- -	2.69	3.6	3.95	4.77	5.94	6.43	6.34	6.19	5.42	5.77	8.41	8.14	7.33
Gross Margin (%)	58.5	61.14	62.87	64.8	65.54	67.48	67.53	67.08	67.43	67.07	69.35	70.95	71.93	70.2	68.71
EBITDA Margin (%)	52.35	54.61	55.08	57.84	59.68	61.55	61.78	61.16	61.88	61.37	64.53	65.93	66.9	64.98	63.4
Operating Margin (%)	17.43	10.09	18.31	23.62	25.01	29.31	35.25	36.8	36.04	37.92	35.33	34.78	47.34	45.31	39.97
Incremental Operating Margin (%)	63.1	-17.89	60.35	52.47	32.8	58.48	97.14	58.99	26.22	72.25	23.05	32.36	358.99	-89.07	-60.16
Pretax Margin (%)	-6.35	-4.98	3.27	6.99	17.72	17.33	24.26	27.68	26.52	24.68	28.06	28.97	39.27	36.75	29.5
Profit Margin (%)	-0.19	0.68	13.02	7	17.48	17.23	24.03	27.41	26.26	24.39	27.17	28.85	39.11	36.69	29.72
Net Income to Common Margin (%)	-0.77	-1.57	11.13	5.4	16.13	16.25	24.03	27.41	26.26	24.39	27.17	28.85	39.11	36.69	29.72
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	-226.2	-225.9	1,195.86	366.76	145.13	179.92	142.41	132.46	141.43	151.09	118.47	131.81	106.79	117.62	144.84
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	758	1,024	1,139	1,174	1,252	1,596	1,635	1,747	1,932	2,430	3,212	3,062	2,988	3,052	3,468
ST Debt	- -	45	39	78	- -	43	82	196	- -	118	210	61	18	- -	379
LT Debt	758	979	1,100	1,096	1,252	1,552	1,553	1,552	1,932	2,312	3,002	3,001	2,970	3,052	3,090
Total Debt/EBITDA	6.87	7.04	6.49	5.38	4.72	5.08	4.73	4.78	4.85	5.83	6.05	4.6	4.25	4.41	4.87
Net Debt/EBITDA	6.78	7.01	6.48	5.37	4.48	5.07	4.72	4.77	4.71	5.66	5.91	4.49	4.15	4.21	4.77
Total Debt/EBIT	20.63	38.1	19.53	13.19	11.26	10.67	8.3	7.94	8.32	9.44	11.05	8.72	6.01	6.32	7.73
Net Debt/EBIT	20.38	37.93	19.48	13.15	10.69	10.65	8.27	7.92	8.09	9.17	10.79	8.52	5.86	6.03	7.57
EBITDA to Interest Expense	3.37	3.61	4.34	4.66	6.07	6.23	6.06	5.89	5.49	5.49	6.77	7.14	7.55	7.63	6.24
EBITDA-CapEx/Interest Expense	-11	3.61	4.34	4.66	6.07	6.23	6.06	5.89	5.49	5.49	6.77	7.14	7.55	7.63	6.24
EBIT to Interest Expense	1.12	0.67	1.44	1.9	2.54	2.97	3.46	3.54	3.2	3.39	3.7	3.76	5.34	5.32	3.93
Interest Expense	33	40	40	47	44	50	57	62	73	76	78	93	93	91	114
Common Equity/Total Assets	-18.17	-19.02	-18.63	-18.57	-18.78	-18.9	-20.52	-21.05	-21.71	-20.36	-18.57	-20.53	-21.57	-22.1	-23.83
Long-Term Debt/Equity (%)	72.57	94.3	97.41	73.08	73.15	90.49	91.93	87.55	103.33	110.63	100.11	103.56	103.11	103.33	111.05
Long-Term Debt/Capital (%)	149.65	147.63	149.36	154.84	169.97	155.37	160.45	152.17	171.38	134.8	141.45	163.57	171.95	177.37	158.59
Long-Term Debt/Total Assets (%)	40.43	45.52	46.65	39.33	40.32	44.67	43.81	41.34	47.94	48.4	45.84	47.44	47.72	47.73	46.51
Total Debt/Equity (%)	72.57	98.64	100.83	78.29	73.15	93.01	96.76	98.58	103.33	116.27	107.11	105.66	103.74	103.33	124.67
Total Debt/Capital (%)	149.65	154.42	154.6	165.86	169.97	159.7	168.89	171.34	171.38	141.67	151.34	166.89	173	177.37	178.04
Total Debt/Total Assets (%)	40.43	47.61	48.28	42.13	40.32	45.92	46.12	46.55	47.94	50.86	49.05	48.4	48.01	47.73	52.21
Net Debt to Equity	71.71	98.2	100.55	78.09	69.47	92.84	96.45	98.37	100.4	112.96	104.54	103.19	101.23	98.68	122.1
Net Debt/Capital (%)	150.55	154.79	154.84	166.13	176.5	159.88	169.27	171.61	175.03	137.92	148.49	163.51	169.46	176.74	174.89
EBITDA	110	145	175	218	265	314	345	366	398	417	531	666	703	693	712
EBITDA-CapEx	-361	145	175	218	265	314	345	366	398	417	531	666	703	693	712
Operating Income (Loss)	37	27	58	89	111	150	197	220	232	258	291	351	497	483	449

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.13	0.03	0.02	0.02	0.45	0.01	0.02	0.01	0.24	0.01	0.02	0.01	0.02	0.18	0.01
Current Ratio	0.37	0.18	0.12	0.08	0.68	0.15	0.12	0.09	0.42	0.14	0.29	0.25	0.31	0.51	0.16
Quick Ratio	0.18	0.11	0.06	0.04	0.48	0.05	0.06	0.05	0.31	0.06	0.06	0.08	0.11	0.29	0.05
CFO/Avg Current Liab	1.46	1.15	1.09	1.04	1.31	1.51	1.15	0.83	1.01	1.17	0.98	1.21	1.53	1.66	1.05
Common Equity/Total Assets	-18.17	-19.02	-18.63	-18.57	-18.78	-18.9	-20.52	-21.05	-21.71	-20.36	-18.57	-20.53	-21.57	-22.1	-23.83
Long-Term Debt/Equity (%)	72.57	94.3	97.41	73.08	73.15	90.49	91.93	87.55	103.33	110.63	100.11	103.56	103.11	103.33	111.05
Long-Term Debt/Capital (%)	149.65	147.63	149.36	154.84	169.97	155.37	160.45	152.17	171.38	134.8	141.45	163.57	171.95	177.37	158.59
Long-Term Debt/Total Assets (%)	40.43	45.52	46.65	39.33	40.32	44.67	43.81	41.34	47.94	48.4	45.84	47.44	47.72	47.73	46.51
Total Debt/Equity (%)	72.57	98.64	100.83	78.29	73.15	93.01	96.76	98.58	103.33	116.27	107.11	105.66	103.74	103.33	124.67
Total Debt/Capital (%)	149.65	154.42	154.6	165.86	169.97	159.7	168.89	171.34	171.38	141.67	151.34	166.89	173	177.37	178.04
Total Debt/Total Assets (%)	40.43	47.61	48.28	42.13	40.32	45.92	46.12	46.55	47.94	50.86	49.05	48.4	48.01	47.73	52.21
CFO/Total Liabilities	10.15	10.65	11.62	12.9	15.6	14.96	15.73	15.36	15.36	13.06	12.65	17.25	18.27	18.34	15.76
CFO/CapEx	0.18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.68	0.81	0.95	1.44	2.2	1.59	1.65	1.54	1.67	1.41	1.9	1.58	1.95	1.76	1.22

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	114.8	38.36	41.99	82	95.74	107.57	112.55	107.06	106.8	111.2	117.73	125.6	124.48	110.4	111.9
Days Sales Outstanding	3.18	9.51	8.69	4.45	3.81	3.39	3.24	3.41	3.42	3.28	3.1	2.91	2.93	3.31	3.26
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	2.01	1.85	2	2.09	1.99	1.86	1.53	1.34	1.46	1.51	1.4	1.42	1.42	1.47	1.53
Accounts Payable Turnover Days	181.72	197.04	182.63	174.38	183.76	196.75	238.4	271.86	250.42	242.39	259.97	257.87	257.43	247.55	238.51
Cash Conversion Cycle	-178.54	-187.53	-173.94	-169.93	-179.95	-193.36	-235.16	-268.45	-247	-239.11	-256.87	-254.96	-254.49	-244.24	-235.25
Inventory to Cash Days	3.18	9.51	8.69	4.45	3.81	3.39	3.24	3.41	3.42	3.28	3.1	2.91	2.93	3.31	3.26
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	1,096	1,815	2,155	3,291	5,164	4,772	5,221	5,298	6,009	6,525	11,600	9,053	10,448	9,699	8,246
- Cash & Cash Equivalents	9	4	3	3	63	3	5	4	55	4	11	6	7	72	6
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	89	48	37	51	68	60	61	63	70	258	127	72	82	82	63
+ Total Debt	758	1,024	1,139	1,174	1,252	1,596	1,635	1,747	1,932	2,430	3,212	3,062	2,988	3,052	3,468
Enterprise Value	1,934	2,882	3,328	4,513	6,420	6,425	6,911	7,104	7,956	9,210	14,927	12,181	13,512	12,762	11,771
Total Capital	507	663	737	708	736	999	968	1,020	1,127	1,715	2,122	1,835	1,727	1,721	1,948
Total Debt/Capital (%)	149.65	154.42	154.6	165.86	169.97	159.7	168.89	171.34	171.38	141.67	151.34	166.89	173	177.37	178.04
Total Debt / EV	0.39	0.36	0.34	0.26	0.19	0.25	0.24	0.25	0.24	0.26	0.22	0.25	0.22	0.24	0.29
EV/Sales	9.17	10.82	10.45	11.97	14.44	12.6	12.36	11.88	12.36	13.56	18.15	12.06	12.86	11.97	10.48
EV/EBITDA	17.51	19.82	18.98	20.7	24.2	20.46	20.01	19.43	19.97	22.1	28.12	18.3	19.23	18.42	16.53
EV/EBIT	52.6	107.25	57.08	50.69	57.74	42.97	35.08	32.29	34.28	35.76	51.37	34.69	27.17	26.42	26.22
EV/Cash Flow to Firm	16.52	18.16	18.16	21.21	24.6	20.48	19.81	19.38	19.68	21.57	28.29	17.79	19.19	17.68	16.29
EV/Free Cash Flow to Firm	3.29	18.16	18.16	21.21	24.6	20.48	19.81	19.38	19.68	21.57	28.29	17.79	19.19	17.68	16.29
Diluted Market Cap	1,096	1,815	2,196	3,330	5,211	4,806	5,247	5,322	6,031	6,552	11,667	9,092	10,486	9,733	8,261
Diluted Enterprise Value	1,934	2,882	3,368	4,552	6,468	6,459	6,938	7,128	7,978	9,237	14,994	12,219	13,550	12,796	11,786
EV per Share	18.78	23.14	24.62	30.27	38.07	36.04	38.28	38.47	41.68	47.44	73.23	54.15	59.94	56.38	51.46
TTM Sales	211	266	318	377	445	510	559	598	644	679	823	1,010	1,050	1,066	1,123
TTM EBITDA	110	145	175	218	265	314	345	366	398	417	531	666	703	693	712
TTM Operating Income	37	27	58	89	111	150	197	220	232	258	291	351	497	483	449
TTM Cash Flow to Firm	117	159	183	213	261	314	349	366	404	427	528	685	704	722	723
TTM Free Cash Flow to Firm	588	159	183	213	261	314	349	366	404	427	528	685	704	722	723

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	1.97	15.32	15.37	20.05	23.98	18.26	17.98	17.49	18.18	18.67	25.97	15.37	17.16	15.42	13.58
EV/EBIT	52.6	107.25	57.08	50.69	57.74	42.97	35.08	32.29	34.28	35.76	51.37	34.69	27.17	26.42	26.22
Enterprise Value	1,934	2,882	3,328	4,513	6,420	6,425	6,911	7,104	7,956	9,210	14,927	12,181	13,512	12,762	11,771
Low Price	7.64	10.14	14.08	15.51	22.05	23.65	22.83	25.22	27.97	19.61	31.44	36.82	33.17	39.8	34.24
EV/Sales	9.17	10.82	10.45	11.97	14.44	12.6	12.36	11.88	12.36	13.56	18.15	12.06	12.86	11.97	10.48
EV/EBITDA	17.51	19.82	18.98	20.7	24.2	20.46	20.01	19.43	19.97	22.1	28.12	18.3	19.23	18.42	16.53
Price/Earnings	- -	- -	60.81	161.54	72.01	57.59	38.88	32.32	35.53	39.4	51.91	31.08	25.44	24.79	24.7
Price/Earnings Average	-640.57	-364.46	62.67	135.9	59.99	62.46	35.05	33.02	36.77	35.23	41.93	35.11	23.55	26.79	27.73
Price/Earnings High	-731.54	-438.04	75.11	168.5	73.9	72.11	40.05	37.38	40.99	41.93	52.3	44.2	26.85	31.91	30.24
Price/Earnings Low	-486.84	-301.34	53.71	113.53	51.86	50.88	30.69	28.42	31.57	22.99	28.68	28.43	18.2	23.03	23.46
Price/Book Value	-3.22	-4.44	-4.9	-6.36	-8.86	-7.27	-7.18	-6.71	-6.87	-6.71	-9.54	-6.97	-7.78	-6.86	-5.21
Price/Book Value Average	-3.04	-3.74	-5.05	-5.35	-7.38	-7.88	-6.47	-6.85	-7.11	-6	-7.7	-7.87	-7.2	-7.41	-5.85
Price/Book Value High	-3.47	-4.49	-6.06	-6.63	-9.09	-9.1	-7.39	-7.75	-7.93	-7.14	-9.61	-9.91	-8.21	-8.83	-6.38
Price/Book Value Low	-2.31	-3.09	-4.33	-4.47	-6.38	-6.42	-5.67	-5.89	-6.1	-3.91	-5.27	-6.38	-5.57	-6.37	-4.95
Price/Tangible Book Value	1.07	1.79	1.92	2.23	3.04	2.79	3.09	3	3.23	3.21	4.01	3.13	3.63	3.3	2.97
Price/Tangible Book Value Average	1.01	1.5	1.98	1.87	2.53	3.03	2.79	3.07	3.35	2.87	3.24	3.53	3.36	3.56	3.34
Price/Tangible Book Value High	1.16	1.81	2.38	2.32	3.12	3.5	3.19	3.47	3.73	3.42	4.04	4.44	3.83	4.24	3.64
Price/Tangible Book Value Low	0.77	1.24	1.7	1.57	2.19	2.47	2.44	2.64	2.87	1.87	2.22	2.86	2.6	3.06	2.82
Price/Sales	5.19	6.81	6.77	8.73	11.62	9.36	9.34	8.86	9.33	9.61	14.1	8.97	9.95	9.1	7.34
Price/Sales Average	4.91	5.74	6.98	7.34	9.68	10.15	8.42	9.05	9.66	8.59	11.39	10.13	9.21	9.83	8.24
Price/Sales High	5.6	6.89	8.36	9.11	11.92	11.71	9.62	10.25	10.77	10.23	14.21	12.75	10.5	11.71	8.99
Price/Sales Low	3.73	4.74	5.98	6.13	8.37	8.27	7.37	7.79	8.29	5.61	7.79	8.2	7.12	8.45	6.97
Price/Cash Flow	12.99	15.32	15.08	19.82	23.77	18.12	17.88	17.41	18.11	18.59	25.82	15.31	17.1	15.37	13.55
Price/Cash Flow Average	12.28	12.9	15.55	16.67	19.8	19.66	16.12	17.78	18.75	16.62	20.86	17.29	15.83	16.61	15.21
Price/Cash Flow High	14.02	15.5	18.63	20.67	24.39	22.69	18.42	20.13	20.9	19.78	26.02	21.76	18.05	19.78	16.59
Price/Cash Flow Low	9.33	10.66	13.32	13.93	17.11	16.01	14.12	15.3	16.09	10.85	14.27	14	12.24	14.28	12.87
Price/Free Cash Flow Average	1.86	12.9	15.84	16.87	19.98	19.8	16.2	17.86	18.81	16.69	20.98	17.36	15.89	16.66	15.24
Price/Free Cash Flow High	2.13	15.5	18.98	20.92	24.61	22.86	18.52	20.22	20.97	19.86	26.17	21.86	18.11	19.85	16.62
Price/Free Cash Flow Low	1.42	10.66	13.58	14.09	17.27	16.13	14.19	15.37	16.15	10.89	14.35	14.06	12.28	14.33	12.89
EV/Sales Average	8.88	9.74	10.66	10.59	12.5	13.39	11.44	12.07	12.68	12.54	15.44	13.23	12.13	12.7	11.38
EV/Sales High	9.58	10.9	12.04	12.35	14.75	14.96	12.65	13.27	13.79	14.18	18.25	15.85	13.42	14.58	12.13
EV/Sales Low	7.7	8.75	9.66	9.38	11.19	11.51	10.4	10.81	11.31	9.56	11.84	11.3	10.04	11.32	10.11
EV/EBITDA Average	16.96	17.84	19.35	18.3	20.95	21.75	18.52	19.74	20.5	20.44	23.92	20.06	18.13	19.54	17.95
EV/EBITDA High	18.29	19.96	21.87	21.35	24.71	24.3	20.47	21.69	22.29	23.1	28.29	24.04	20.06	22.43	19.13
EV/EBITDA Low	14.71	16.02	17.54	16.21	18.75	18.69	16.83	17.67	18.29	15.58	18.34	17.14	15	17.42	15.95
EV/EBIT Average	50.96	96.56	58.22	44.83	49.99	45.68	32.47	32.81	35.19	33.08	43.69	38.03	25.62	28.03	28.47
EV/EBIT High	54.96	108.04	65.78	52.29	58.95	51.02	35.88	36.06	38.26	37.39	51.67	45.57	28.34	32.17	30.34
EV/EBIT Low	44.2	86.72	52.77	39.71	44.74	39.25	29.5	29.37	31.39	25.21	33.5	32.49	21.2	24.99	25.3
Last Price	10.64	14.57	15.94	22.07	30.62	26.77	28.92	28.69	31.48	33.61	56.91	40.25	46.35	42.85	36.05
High Price	11.48	14.74	19.69	23.02	31.42	33.52	29.79	33.18	36.32	35.77	57.34	57.23	48.93	55.14	44.13
Enterprise Value Average	1,874	2,595	3,394	3,991	5,558	6,829	6,397	7,218	8,166	8,519	12,698	13,354	12,739	13,542	12,782
Enterprise Value High	2,021	2,903	3,835	4,655	6,555	7,628	7,068	7,933	8,880	9,629	15,015	16,000	14,094	15,544	13,619
Enterprise Value Low	1,625	2,330	3,076	3,535	4,975	5,869	5,812	6,463	7,286	6,492	9,736	11,409	10,541	12,072	11,357

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	122	132	139	164	175	180	182	187	194	197	224	225	225	228	227
Diluted Weighted Avg Shares	103	125	138	151	170	180	181	185	192	195	205	226	226	227	229
Basic Weighted Avg Shares	103	125	135	149	169	178	181	185	191	194	204	225	225	226	229
Revenue per Share	2.05	2.14	2.36	2.53	2.64	2.86	3.1	3.24	3.37	3.5	4.04	4.49	4.66	4.71	4.91
EBITDA per Share	1.07	1.17	1.3	1.46	1.57	1.76	1.91	1.98	2.09	2.15	2.6	2.96	3.12	3.06	3.11
Operating Income per Share	0.36	0.22	0.43	0.6	0.66	0.84	1.09	1.19	1.22	1.33	1.43	1.56	2.21	2.13	1.96
Basic EPS, GAAP	-0.02	-0.03	0.26	0.14	0.43	0.46	0.74	0.89	0.89	0.85	1.1	1.29	1.82	1.73	1.46
Basic EPS from Cont Ops	-0.13	-0.11	0.08	0.18	0.47	0.5	0.75	0.9	0.89	0.86	1.13	1.3	1.83	1.73	1.45
Diluted EPS, GAAP	-0.02	-0.03	0.26	0.14	0.42	0.46	0.74	0.88	0.88	0.85	1.09	1.29	1.82	1.72	1.46
Diluted EPS from Cont Ops	-0.13	-0.11	0.08	0.17	0.46	0.49	0.75	0.89	0.89	0.86	1.13	1.29	1.82	1.73	1.45
Dividend per Share	0.27	0.37	0.48	0.55	0.67	0.87	1.08	1.2	1.28	1.32	1.38	1.72	1.96	2.04	2.08
Cash Flow per Share	0.82	0.95	1.06	1.11	1.29	1.48	1.62	1.65	1.74	1.81	2.2	2.63	2.71	2.79	2.66
Free Cash Flow per Basic Share	-3.76	0.95	1.06	1.11	1.29	1.48	1.62	1.65	1.74	1.81	2.2	2.63	2.71	2.79	2.66
Cash & Equivalents per Share	0.09	0.04	0.02	0.02	0.37	0.02	0.03	0.02	0.29	0.02	0.05	0.03	0.03	0.32	0.03
Book Value per Share	-3.31	-3.28	-3.25	-3.47	-3.46	-3.68	-4.03	-4.28	-4.58	-5.01	-5.97	-5.77	-5.96	-6.24	-6.92
Tangible Book Value per Share	9.92	8.16	8.28	9.91	10.07	9.58	9.35	9.55	9.74	10.47	14.18	12.88	12.77	13	12.13

CubeSmart

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)