Cubesmart vs Public Storage
Public Storage is the larger business, with $4.82bn of revenue in fiscal 2025 against $1.12bn for Cubesmart (4.3 times as much). Cubesmart grew faster (5.3% against 2.7%). Public Storage kept more of each dollar of sales as profit: a net margin of 37.0% against 29.7%. Cubesmart carries less debt relative to equity (0.0% against 111.5%).
| Latest fiscal year | CubesmartCUBE, 2025 | Public StoragePSA, 2025 |
|---|---|---|
| Revenue | $1.12bn | $4.82bn |
| Revenue growth | 5.3% | 2.7% |
| Net income | $334m | $1.78bn |
| Operating margin | — | — |
| Net margin | 29.7% | 37.0% |
| Return on equity | 11.9% | 18.8% |
| Free cash flow | $609m | $3.19bn |
| Cash | $5.8m | $318m |
| Total debt | $0 | $10.31bn |
| Debt to equity | 0.0% | 111.5% |
| Dividend per share | $2.09 | — |
| Dividend yield | 4.9% | — |
| Share buybacks | $31.9m | $0 |
| Employees | — | — |
| Market value | $9.89bn | $61.69bn |
| Price vs our value range | — | — |
| Moat score | 77 (Strong) | 95 (Strong) |
| Insider trades, 12 months | 0 buys, 4 sales | 0 buys, 2 sales |