SmartStop Self Storage REIT, Inc. (SMA) intrinsic value & 10-year financials
SmartStop Self Storage REIT, Inc. (SMA) has a Graham intrinsic value of $2.33 per share. At $34.16 on Oct 17, 2026, the stock trades 1366% above that value. Over the last 10 fiscal years revenue grew 22.5% a year to $281.1M, with an average return on invested capital of 0.5%.
- Graham intrinsic value
- $2.33
- Share price (Oct 17, 2026)
- $34.16
- Price vs Graham value
- 1366% above
- Market cap
- $3.1B
- Revenue (FY2025)
- $281.1M
- Revenue growth (10-yr CAGR)
- 22.5%
- ROIC (10-yr avg)
- 0.5%
- Free cash flow (FY2025)
- $84.9M
SMA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $281.1M | -$8.8M | — | $84.9M | 21.0% | 3.1% |
| FY2024 | $237.0M | -$18.4M | -$0.20 | $63.9M | 29.2% | 4.5% |
| FY2023 | $233.0M | -$2.7M | -$0.03 | $73.0M | 30.3% | 2.5% |
| FY2022 | $212.6M | $21.7M | $0.07 | — | 31.0% | 4.9% |
| FY2021 | $168.8M | -$19.6M | -$0.37 | $56.8M | 9.8% | 1.5% |
| FY2020 | $124.0M | -$51.2M | -$0.91 | — | -17.0% | -2.2% |
| FY2019 | $109.5M | -$25.1M | — | — | 10.6% | -3.0% |
| FY2018 | $78.5M | -$3.7M | — | — | 20.6% | -0.5% |
| FY2017 | $75.4M | -$15.0M | — | — | 4.7% | -2.0% |
| FY2016 | $45.2M | -$26.1M | — | — | -33.0% | -3.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SmartStop Self Storage REIT, Inc. is a consistent compounder, expanding top-line revenue at 22.5% annually over the past decade.
SmartStop Self Storage REIT, Inc. has historically struggled to out-earn its cost of capital, averaging just 0.5% ROIC.
Over the decade, SmartStop Self Storage REIT, Inc. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, SmartStop Self Storage REIT, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $2.33 per share.