Cubesmart vs Extra Space Storage
Extra Space Storage is the larger business, with $3.38bn of revenue in fiscal 2025 against $1.12bn for Cubesmart (3.0 times as much). Cubesmart grew faster (5.3% against 3.7%). Cubesmart kept more of each dollar of sales as profit: a net margin of 29.7% against 28.8%. Cubesmart carries less debt relative to equity (0.0% against 11.1%).
| Latest fiscal year | CubesmartCUBE, 2025 | Extra Space StorageEXR, 2025 |
|---|---|---|
| Revenue | $1.12bn | $3.38bn |
| Revenue growth | 5.3% | 3.7% |
| Net income | $334m | $974m |
| Operating margin | — | 41.8% |
| Net margin | 29.7% | 28.8% |
| Return on equity | 11.9% | 7.1% |
| Free cash flow | $609m | $1.29bn |
| Cash | $5.8m | $139m |
| Total debt | $0 | $1.49bn |
| Debt to equity | 0.0% | 11.1% |
| Dividend per share | $2.09 | $6.48 |
| Dividend yield | 4.9% | 4.2% |
| Share buybacks | $31.9m | $150m |
| Employees | — | 8,012 |
| Market value | $9.89bn | $32.58bn |
| Price vs our value range | — | — |
| Moat score | 77 (Strong) | 70 (Moderate) |
| Insider trades, 12 months | 0 buys, 4 sales | 0 buys, 2 sales |