SmartStop Self Storage REIT, In (SMA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

SmartStop Self Storage REIT, In

NYSE•Real Estate•REIT - Industrial

$32.26+0.17(0.01%)Pre-market

Market Cap

$1.81B

P/E

80.9x

P/S

5.9x

P/B

1.6x

SmartStop Self Storage REIT, Inc. is a self-managed REIT with a fully integrated operations team of more than 1,000 self-storage professionals focused on growing the SmartStop Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC also sponsors other self-storage programs, and through its Managed Platform offers third party management services in the U.S. and Canada. As of August 5, 2026, SmartStop has an owned or managed portfolio of more than 460 operating properties in 36 states, the District of Columbia, and Canada, comprising over 275,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 53 operating self-storage properties across four provinces in Canada, which total approximately 47,000 units and 4.7 million rentable square feet. SmartStop Self Storage REIT, Inc. was established in 2013 and was incorporated in Maryland.

How this company scores

GoodMetricSide Score: 61/100

Strongest: Growth (22/25); weakest: Balance Sheet & Red Flags (9/25).

Profitability19/25

Growth22/25

Balance Sheet & Red Flags9/25

Cash & Earnings Quality11/25

Strengths

Growing revenueStrong marginsRising earningsCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 80.9x5y range 34.7x – 265.0x

Currently near its 11-quarter median.

P/S · 5.9x5y range 0.4x – 7.8x

Currently above its 20-quarter median.

P/B · 1.6x5y range 0.2x – 2.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 15.1% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.81B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $306.46M
Q. Revenue: $79.28M
TTM EBITDA: $144.68M
TTM Op. Income: $65.70M
Q. Op. Income: $17.88M
TTM Net Income: $22.32M
Q. Net Income: $11.25M
EPS: N/A
Shares Out.: $55.26M

$306.46M in TTM revenue grew 21.1% YoY, reaching $79.28M last quarter. TTM EBITDA of $144.68M and TTM operating income of $65.70M show growth is flowing through to the bottom line. TTM net income of $22.32M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 60.1%
EBITDA Margin: 47.5%
Op. Margin: 22.5%
Net Margin: 14.2%

Op. margin of 22.5% is up 7.2% YoY — cost efficiency is improving. Net margin at 14.2% and gross margin of 60.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 47% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 80.9x
P/S Ratio: 5.9x
P/B Ratio: 1.6x

At 80.9x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 5.9x and P/B of 1.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 0% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.44B
Cash: $38.19M
Long-Term Debt: $1.12B
Book Value: $1.16B
D/E Ratio: 1.0
Debt/EBITDA: 29.9

With $2.44B in assets and $1.12B in long-term debt, D/E is 1.0and book value is $1.16B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 4 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $19.67M
TTM Free Cash Flow: $-20.31M
FCF Margin: -6.6%
FCF / Net Income: -0.9

TTM FCF of $-20.31M on $19.67M in operating cash flow. The FCF / Net Income ratio of -0.9x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.