Filing Flows › CubeSmart (CUBE) › Q1 2026 › vs Q1 2025
CubeSmart (CUBE) Q1 2026 vs Q1 2025 (year over year)
CubeSmart's revenue rose $8.9M (+3%) from $273M in Q1 2025 to $282M in Q1 2026. Operating margin 40.2% against 42.1% (-1.9 pts).
CubeSmart, Q1 2026: revenue $282M (+3% year over year), operating margin 40.2%, net earnings $82.9M, operating cash flow $149M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 40.2% | 42.1% | -1.9 pts |
| Net margin | 29.4% | 32.7% | -3.3 pts |
| Free cash flow margin | 49.2% | 50.7% | -1.4 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $282M | $273M | $8.9M | +3% |
| Operating profit | $113M | $115M | −$1.6M | -1% |
| Costs & expenses | $169M | $158M | $10.5M | +7% |
| Pre-tax earnings | $82.8M | $88.7M | −$6.0M | -7% |
| Other expense, net | $30.5M | $26.1M | $4.4M | +17% |
| Cost of revenue | $90.1M | $82.9M | $7.1M | +9% |
| General & admin | $17.2M | $16.1M | $1.1M | +7% |
| Other operating costs | $61.4M | $59.2M | $2.3M | +4% |
| Loss borne by minority interests | $137K | $452K | −$315K | -70% |
| Net earnings | $82.9M | $89.2M | −$6.3M | -7% |
| Depreciation & amortization | $62.5M | $60.4M | $2.1M | +4% |
| Share-based compensation | $3.3M | $3.2M | $76K | +2% |
| Working capital & other | $162K | −$6.5M | $6.6M | — |
| Operating cash flow | $149M | $146M | $2.5M | +2% |
| Free cash flow (OCF − capex) | $139M | $138M | $492K | +0.4% |
| Capital expenditures | $10.0M | $8.0M | $2.0M | +25% |
Questions
How much did CubeSmart's revenue grow year over year in Q1 2026?
CubeSmart's revenue rose $8.9M (+3%) from $273M in Q1 2025 to $282M in Q1 2026. Operating margin 40.2% against 42.1% (-1.9 pts).