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CubeSmart's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $118 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $502 Mil.
EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CubeSmart's annualized ROC % for the quarter that ended in Mar. 2024 was 7.66%. CubeSmart's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 936.08%.
EBIT is also linked to Joel Greenblatt's definition of earnings yield. CubeSmart's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 3.99%.
The historical data trend for CubeSmart's EBIT can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
CubeSmart Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
EBIT | Get a 7-Day Free Trial | 243.30 | 243.50 | 309.26 | 385.76 | 505.50 |
CubeSmart Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
EBIT | Get a 7-Day Free Trial | 121.63 | 121.83 | 126.28 | 135.76 | 117.78 |
For the REIT - Industrial subindustry, CubeSmart's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the REITs industry and Real Estate sector, CubeSmart's EV-to-EBIT distribution charts can be found below:
* The bar in red indicates where CubeSmart's EV-to-EBIT falls into.
EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.
EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $502 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
CubeSmart (NYSE:CUBE) EBIT Explanation
1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
CubeSmart's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:
ROC % (Q: Mar. 2024 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Dec. 2023 ) | + | Invested Capital (Q: Mar. 2024 )) | / count ) |
= | 472.108 * ( 1 - 0% ) | / | ( (6167.116 | + | 6154.758) | / 2 ) |
= | 472.108 | / | 6160.937 | |||
= | 7.66 % |
where
Invested Capital | (Q: Dec. 2023 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 6225.02 | - | 317.239 | - | ( 6.526 | - | max(0, 373.822 | - | 114.487 | + | 6.526 | )) |
= | 6167.116 |
Invested Capital | (Q: Mar. 2024 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 6208.888 | - | 318.718 | - | ( 5.587 | - | max(0, 376.386 | - | 111.798 | + | 5.587 | )) |
= | 6154.758 |
Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.
2. Joel Greenblatt's definition of Return on Capital:
CubeSmart's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:
ROC (Joel Greenblatt) % | (Q: Mar. 2024 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Dec. 2023 | Q: Mar. 2024 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 471.108 | / | ( ( (50.476 + max(-271.999, 0)) | + | (50.179 + max(-277.999, 0)) ) | / | 2 ) |
= | 471.108 | / | ( ( 50.476 | + | 50.179 ) | / | 2 ) |
= | 471.108 | / | 50.3275 | ||||
= | 936.08 % |
where Working Capital is:
Working Capital | (Q: Dec. 2023 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (8.944 | + | 0 | + | 74.779) | - | (317.239 | + | 38.483 | + | 0) |
= | -271.999 |
Working Capital | (Q: Mar. 2024 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (7.907 | + | 0 | + | 72.08) | - | (318.718 | + | 39.268 | + | 5.6843418860808E-14) |
= | -277.999 |
When net working capital is negative, 0 is used.
Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.
3. It is also linked to Joel Greenblatt's definition of Earnings Yield:
CubeSmart's Earnings Yield (Joel Greenblatt) % for today is calculated as:
Earnings Yield (Joel Greenblatt) % | = | EBIT (TTM) | / | Enterprise Value (Q: Mar. 2024 ) |
= | 501.644 | / | 12587.346 | |
= | 3.99 % |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Thank you for viewing the detailed overview of CubeSmart's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.
Christopher P Marr | officer: Chief Financial Officer | 460 E. SWEDESFORD ROAD, SUITE 3000, WAYNE PA 19087 |
Jeffrey P Foster | officer: Sr. VP - Chief Legal Officer | 460 EAST SWEDESFORD ROAD, SUITE 3000, WAYNE PA 19087 |
Timothy M Martin | officer: SVP & Chief Accounting Officer | 460 E. SWEDESFORD ROAD, SUITE 3000, WAYNE PA 19087 |
Matthew D Denarie | officer: Chief Accounting Officer | 5 OLD LANCASTER ROAD, MALVERN PA 19355 |
Jennifer Schulte | officer: Chief Human Resources Officer | 5 OLD LANCASTER ROAD, MALVERN PA 19355 |
Jit Kee Chin | director | ONE FEDERAL STREET, 23RD FLOOR, BOSTON MA 02110 |
Jair K Lynch | director | 5 OLD LANCASTER RD, MALVERN PA 19355 |
Joel D Keaton | officer: Sr VP of Operations | 5 OLD LANCASTER ROAD, MALVERN PA 19355 |
Marianne M Keler | director | 12061 BLUEMONT WAY, RESTON VA 20190 |
Jonathan L Perry | officer: SVP and CIO | 5 OLD LANCASTER ROAD, MALVERN PA 19355 |
Dororthy Dowling | director | 5 OLD LANCASTER ROAD, MALVERN PA 19355 |
Diefenderfer William M Iii | director | 300 CONTINENTAL DRIVE, NEWARK DE 19713 |
Dean Jernigan | director, officer: CEO and President | C/O FARMLAND PARTNERS INC., 8670 WOLFF COURT, SUITE 240, WESTMINSTER CO 80031 |
Deborah Ratnersalzberg | director | 301 WATER ST SE SUITE 201, WASHINGTON DC 20003 |
John W Fain | director | 1000 SEMMES AVE, RICHMOND VA 23224 |
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