SMA - Smartstop Self Storage REIT Inc
Price:
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--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$34.00
DETAILS
HIGH:
$37.00
LOW:
$30.00
MEDIAN:
$35.00
CONSENSUS:
$34.00
UPSIDE:
9.75%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 281.1 | 237.0 | 233.0 | 206.3 | 168.8 | 124.0 |
| Cost of Revenue | 255.1 | 137.2 | 74.5 | 57.4 | 53.9 | 46.9 |
| Gross Profit | 26.1 | 157.7 | 158.5 | 148.9 | 114.9 | 77.1 |
| Operating Expenses | ||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 38.2 | 29.9 | 27.5 | 28.3 | 23.3 | 16.5 |
| Other Expenses | (71.2) | 58.5 | 60.4 | 54.8 | 75.1 | 81.8 |
| Operating Expenses | (33.0) | 88.5 | 87.9 | 83.0 | 98.4 | 98.3 |
| Operating Income | ||||||
| Operating Income | 59.0 | 69.2 | 70.6 | 65.9 | 16.5 | (21.1) |
| Interest Expense | 59.9 | 72.3 | 61.8 | 41.5 | 33.4 | 36.1 |
| Interest Income | 4.4 | 3.2 | 3.4 | 1.8 | 0 | 0 |
| Profitability | ||||||
| EBITDA | 133.3 | 124.0 | 131.1 | 127.2 | 65.4 | 21.1 |
| EBIT | 60.1 | 67.9 | 70.9 | 62.6 | 12.0 | (21.0) |
| Income Before Tax | 0.2 | (4.4) | 9.1 | 21.1 | (21.4) | (57.0) |
| Income Tax Expense | 1.9 | 1.5 | (2.6) | (0.6) | (1.8) | (5.8) |
| Net Income | (1.5) | (5.6) | 9.8 | 18.8 | (16.9) | (44.3) |
| Per Share Data | ||||||
| EPS (Basic) | -0.19 | -0.19 | -0.03 | 0.07 | -0.37 | -0.91 |
| EPS (Diluted) | -0.20 | -0.19 | -0.03 | 0.07 | -0.37 | -0.91 |
| Shares Outstanding | 47.3 | 96.6 | 96.8 | 91.9 | 79.4 | 59.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Current Assets | ||||||
| Cash & Cash Equivalents | 59.4 | 23.1 | 45.1 | 39.5 | 37.3 | 72.7 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 0 | 0.0 | 0.0 | 0.0 | 0.1 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0 | 6.2 | 8.3 | 6.5 | 7.4 | 8.0 |
| Total Current Assets | 59.4 | 29.3 | 53.4 | 46.0 | 44.7 | 80.7 |
| Non-Current Assets | ||||||
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 53.6 | 53.6 | 53.6 | 53.6 | 53.6 |
| Intangible Assets | 104.0 | 22.5 | 16.9 | 31.5 | 30.4 | 28.6 |
| Long-Term Investments | 2,235.0 | 96.5 | 70.2 | 90.9 | 31.3 | 15.6 |
| Other Non-Current Assets | 30.6 | 1,840.1 | 1,701.4 | 1,725.2 | 1,458.2 | 1,103.7 |
| Total Non-Current Assets | 2,372.8 | 2,012.8 | 1,842.2 | 1,901.2 | 1,573.6 | 1,201.6 |
| Total Assets | 2,432.2 | 2,042.1 | 1,895.6 | 1,947.2 | 1,618.3 | 1,282.2 |
| Current Liabilities | ||||||
| Account Payables | 0 | 38.1 | 29.0 | 28.2 | 22.7 | 14.7 |
| Short-Term Debt | 0 | 104.1 | 321.4 | 2.6 | 0.5 | 4.4 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | (104.1) | (321.4) | (2.6) | (0.5) | 11.3 |
| Total Current Liabilities | 0 | 47.7 | 38.5 | 37.9 | 31.6 | 30.4 |
| Non-Current Liabilities | ||||||
| Long-Term Debt | 1,098.2 | 1,213.4 | 1,087.4 | 1,068.4 | 873.9 | 718.0 |
| Deferred Tax Liabilities | 6.6 | 6.0 | 6.2 | 6.2 | 7.7 | 8.4 |
| Other Non-Current Liabilities | 47.4 | 68.0 | 0 | 0 | 30 | 28.6 |
| Total Non-Current Liabilities | 1,152.2 | 1,323.4 | 1,093.6 | 1,074.6 | 911.6 | 754.9 |
| Total Liabilities | 1,152.2 | 1,371.1 | 1,132.1 | 1,112.5 | 943.2 | 785.3 |
| Stockholders' Equity | ||||||
| Common Stock | 0.1 | 62.1 | 71.4 | 76.7 | 71.4 | 57.4 |
| Retained Earnings | (657.6) | (567.8) | (491.5) | (430.7) | (381.8) | (305.4) |
| Accumulated Other Comprehensive Income | 0 | (1.7) | 0.8 | 3.7 | (0.3) | (3.8) |
| Total Stockholders' Equity | 1,180.4 | 584.1 | 672.0 | 740.3 | 610.4 | 436.9 |
| Total Liabilities & Equity | 2,432.2 | 2,042.1 | 1,895.6 | 1,947.2 | 1,618.3 | 1,282.2 |
| Debt Metrics | ||||||
| Total Debt | 1,098.2 | 1,317.4 | 1,087.4 | 1,068.4 | 873.9 | 724.4 |
| Net Debt | 1,038.9 | 1,294.3 | 1,042.3 | 1,028.9 | 836.6 | 651.7 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | (1.7) | (5.9) | 11.6 | 21.7 | (19.6) | (51.2) |
| Depreciation & Amortization | 73.2 | 56.1 | 60.2 | 64.6 | 53.4 | 42.1 |
| Stock-Based Compensation | 16.6 | 5.3 | 5.3 | 4.0 | 2.9 | 1.7 |
| Change in Working Capital | (11.0) | (2.9) | (5.0) | 2.9 | (2.1) | (1.6) |
| Other Non-Cash Items | 7.9 | 10.6 | 4.4 | (4.1) | 26.2 | 41.7 |
| Operating Cash Flow | 85.0 | 64.0 | 73.2 | 87.9 | 58.8 | 26.8 |
| Investing Activities | ||||||
| Capital Expenditure | 0 | 0 | 0 | 0.0 | (0.0) | 0 |
| Acquisitions | (8.1) | 0 | 0 | (65.5) | (49.5) | (13.5) |
| Purchases of Investments | (4.8) | (1.2) | (3.2) | (5.0) | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 19.1 | 0 |
| Other Investing Activities | (367.9) | (179.7) | 3.5 | (134.6) | (89.8) | (15.5) |
| Investing Cash Flow | (380.8) | (180.9) | 0.3 | (205.2) | (120.2) | (29.0) |
| Financing Activities | ||||||
| Net Debt Issuance | (253.6) | 198.1 | 16.0 | 196.2 | 79.7 | (0.4) |
| Stock Repurchased | (200.3) | (33.8) | (19.0) | (1.8) | (4.6) | (1.7) |
| Dividends Paid | 0 | (49.9) | (53.1) | (61.9) | (38.4) | (27.9) |
| Other Financing Activities | (95.1) | (19.5) | (10.0) | (12.5) | (15.0) | (6.2) |
| Financing Cash Flow | 325.2 | 94.8 | (66.1) | 120.1 | 25.7 | 13.7 |
| Cash Position | ||||||
| Net Change in Cash | 30.1 | (24.1) | 7.4 | 1.4 | (36.0) | 12.1 |
| Cash at Beginning | 29.3 | 53.4 | 46.0 | 44.7 | 80.7 | 68.6 |
| Cash at End | 59.4 | 29.3 | 53.4 | 46.0 | 44.7 | 80.7 |
| Free Cash Flow | 85.0 | 64.0 | 73.2 | 87.9 | 58.8 | 26.8 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 281.1 | 237.0 | 233.0 | 206.3 | 168.8 | 124.0 |
| Gross Profit | 26.1 | 157.7 | 158.5 | 148.9 | 114.9 | 77.1 |
| Operating Income | 59.0 | 69.2 | 70.6 | 65.9 | 16.5 | (21.1) |
| Net Income | (1.5) | (5.6) | 9.8 | 18.8 | (16.9) | (44.3) |
| EPS (Diluted) | -0.20 | -0.19 | -0.03 | 0.07 | -0.37 | -0.91 |
| Balance Sheet | ||||||
| Cash & Equivalents | 59.4 | 23.1 | 45.1 | 39.5 | 37.3 | 72.7 |
| Total Assets | 2,432.2 | 2,042.1 | 1,895.6 | 1,947.2 | 1,618.3 | 1,282.2 |
| Total Debt | 1,098.2 | 1,317.4 | 1,087.4 | 1,068.4 | 873.9 | 724.4 |
| Stockholders' Equity | 1,180.4 | 584.1 | 672.0 | 740.3 | 610.4 | 436.9 |
| Cash Flow | ||||||
| Operating Cash Flow | 85.0 | 64.0 | 73.2 | 87.9 | 58.8 | 26.8 |
| Capital Expenditure | 0 | 0 | 0 | 0.0 | (0.0) | 0 |
| Free Cash Flow | 85.0 | 64.0 | 73.2 | 87.9 | 58.8 | 26.8 |