SmartStop Self Storage REIT, Inc. (SMA) Balance Sheet
SMA balance sheet, 2025
December 31, 2025 · U.S. dollars$2.43B assets = $1.15B liabilities + $1.28B equity
Both columns are drawn to the same scale: what SMA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SMA financial health
Descriptive bands, not a rating. Fiscal 2025.
SMA balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.28B2020 | $2.43B2025 | +13.7%/yr | |
| Total liabilities | $785.3M2020 | $1.15B2025 | +8.0%/yr | |
| Shareholders’ equity | $436.9M2020 | $1.18B2025 | +22.0%/yr | |
| Cash & short-term investments | $72.7M2020 | $54.2M2025 | −5.7%/yr | |
| Total debt | $724.4M2020 | $1.10B2025 | +8.7%/yr | |
| Net cash (debt) | −$651.7M2020 | −$1.04B2025 | −$392.4M | |
| Working capital | $50.3M2020 | $11.9M2025 | −$38.4M | |
| Book value per share | $7.332020 | $24.962025 | +27.8%/yr | |
| Current ratio | 2.662020 | 1.252025 | −1.41 | |
| Debt / equity | 1.662020 | 0.932025 | −0.73 | |
| Shares outstanding | 59.6M2020 | 47.3M2025 | −4.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SMA assets
SMA liabilities and equity
SMA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SMA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $54.2M | $23.1M | $45.1M | $39.5M | $37.3M | $72.7M |
| Cash & equivalents | $54.2M | $23.1M | $45.1M | $39.5M | $37.3M | $72.7M |
| Receivables | $0 | $12,000 | $15,000 | $15,000 | $60,000 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $5.1M | $6.2M | $8.3M | $6.5M | $7.4M | $8.0M |
| Total current assets | $59.4M | $29.3M | $53.4M | $46.0M | $44.7M | $80.7M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $104.0M | $76.1M | $70.6M | $85.1M | $84.0M | $82.2M |
| Long-term investments | $167.7M | $96.5M | $70.2M | $90.9M | $31.3M | $0 |
| Other non-current assets | $2.10B | $1.84B | $1.70B | $1.73B | $1.46B | $1.12B |
| Total assets | $2.43B | $2.04B | $1.90B | $1.95B | $1.62B | $1.28B |
| Liabilities | ||||||
| Accounts payable | $38.6M | $38.1M | $29.0M | $28.2M | $22.7M | $14.7M |
| Short-term debt | $93.0M | $104.1M | $321.4M | $2.6M | $490,341 | $4.4M |
| Total current liabilities | $47.4M | $47.7M | $38.5M | $37.9M | $31.6M | $30.4M |
| Long-term debt | $1.10B | $1.32B | $1.09B | $1.07B | $873.9M | $0 |
| Other long-term liabilities | $6.6M | $6.0M | $6.2M | $6.2M | $37.7M | $754.9M |
| Total liabilities | $1.15B | $1.37B | $1.13B | $1.11B | $943.2M | $785.3M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $55,000 | $62.1M | $71.4M | $76.7M | $71.4M | $57.4M |
| Retained earnings (deficit) | −$657.6M | −$567.8M | −$491.5M | −$430.7M | −$381.8M | −$305.4M |
| Accumulated other comprehensive income | $733,000 | −$1.7M | $847,000 | $3.7M | −$279,975 | −$3.8M |
| Minority interest | $99.5M | $86.8M | $91.5M | $94.5M | — | — |
| Total shareholders' equity | $1.18B | $584.1M | $672.0M | $740.3M | $610.4M | $436.9M |
| Key figures | ||||||
| Total debt | $1.10B | $1.32B | $1.09B | $1.07B | $873.9M | $724.4M |
| Net cash (debt) | −$1.04B | −$1.29B | −$1.04B | −$1.03B | −$836.6M | −$651.7M |
| Working capital | $11.9M | −$18.4M | $14.9M | $8.2M | $13.0M | $50.3M |
| Tangible book value | $1.08B | $508.0M | $601.4M | $655.2M | $526.4M | $354.7M |
| Book value per share | $24.96 | $6.05 | $6.94 | $8.04 | $7.68 | $7.33 |
| Shares outstanding | 47.3M | 96.6M | 96.8M | 92.1M | 79.4M | 59.6M |
| Current ratio | 1.25 | 0.61 | 1.39 | 1.22 | 1.41 | 2.66 |
| Quick ratio | 1.14 | 0.48 | 1.17 | 1.04 | 1.18 | 2.40 |
| Debt / equity | 0.93 | 2.26 | 1.62 | 1.44 | 1.43 | 1.66 |
| Equity / assets | 48.5% | 28.6% | 35.4% | 38.0% | 37.7% | 34.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $38.2M | $43.9M | $54.2M | $54.2M | $37.7M | $35.2M | $23.1M | $36.7M | $34.7M | $39.2M | $45.1M | $34.2M |
| Cash & equivalents | $38.2M | $43.9M | $54.2M | $54.2M | $37.7M | $35.2M | $23.1M | $36.7M | $34.7M | $39.2M | $45.1M | $34.2M |
| Receivables | $0 | $2.7M | $0 | $400,000 | $200,000 | $200,000 | $12,000 | $0 | $0 | $18,000 | $15,000 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $5.1M | $0 | $5.2M | $4.5M | $6.2M | $8.3M | $7.4M | $6.9M | $8.3M | $9.6M |
| Total current assets | $38.2M | $43.9M | $59.4M | $54.2M | $43.1M | $39.9M | $29.3M | $45.0M | $42.0M | $46.1M | $53.4M | $43.8M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $82.7M | $84.8M | $104.0M | $82.7M | $82.1M | $77.8M | $76.1M | $71.9M | $71.0M | $70.5M | $70.6M | $71.7M |
| Long-term investments | $189.7M | $193.8M | $167.7M | $152.5M | $145.8M | $95.1M | $96.5M | $98.2M | $76.3M | $72.2M | $70.2M | $0 |
| Other non-current assets | $2.13B | $2.10B | $2.10B | $2.10B | $2.03B | $1.90B | $1.84B | $1.72B | $1.69B | $1.70B | $1.70B | $1.78B |
| Total assets | $2.44B | $2.42B | $2.43B | $2.39B | $2.30B | $2.11B | $2.04B | $1.94B | $1.88B | $1.89B | $1.90B | $1.89B |
| Liabilities | ||||||||||||
| Accounts payable | $40.2M | $44.6M | $38.6M | $45.3M | $35.3M | $41.8M | $38.1M | $48.6M | $39.2M | $38.3M | $29.0M | $40.7M |
| Short-term debt | $91.0M | $92.0M | $0 | $792,000 | $1.5M | $175.0M | $104.1M | $915,000 | $1.8M | $2.8M | $321.4M | — |
| Total current liabilities | $91.0M | $92.0M | $47.4M | $54.7M | $43.7M | $52.1M | $47.7M | $64.7M | $48.3M | $47.6M | $38.5M | $50.1M |
| Long-term debt | $1.12B | $1.09B | $1.10B | $1.04B | $950.0M | $1.41B | $1.32B | $1.18B | $1.11B | $1.09B | $1.09B | $0 |
| Other long-term liabilities | $0 | $0 | $6.6M | $6.5M | $6.4M | $6.1M | $6.0M | $6.2M | $6.1M | $6.1M | $6.2M | $1.06B |
| Total liabilities | $1.18B | $1.15B | $1.15B | $1.10B | $1.00B | $1.46B | $1.37B | $1.25B | $1.16B | $1.15B | $1.13B | $1.11B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $55,000 | $55,000 | $55,000 | $55,000 | $55,000 | $65.5M | $62.1M | $58.5M | $65.5M | $68.4M | $71.4M | $69.6M |
| Retained earnings (deficit) | −$680.7M | −$669.9M | −$657.6M | −$638.0M | −$621.0M | −$590.4M | −$567.8M | −$549.6M | −$528.8M | −$510.6M | −$491.5M | −$475.7M |
| Accumulated other comprehensive income | −$383,000 | $245,000 | $733,000 | $268,000 | $840,000 | −$1.7M | −$1.7M | −$1.6M | −$360,000 | $432,640 | $847,000 | $2.4M |
| Minority interest | $102.6M | $100.8M | $99.5M | $87.1M | $86.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.16B | $1.17B | $1.18B | $1.20B | $1.22B | $564.8M | $584.1M | $598.6M | $627.5M | $649.4M | $672.0M | $687.4M |
| Key figures | ||||||||||||
| Total debt | $1.12B | $1.09B | $1.10B | $1.04B | $950.0M | $1.41B | $1.32B | $1.18B | $1.11B | $1.09B | $1.09B | $1.06B |
| Net cash (debt) | −$1.08B | −$1.05B | −$1.04B | −$987.4M | −$912.3M | −$1.37B | −$1.29B | −$1.14B | −$1.07B | −$1.05B | −$1.04B | −$1.02B |
| Working capital | −$52.8M | −$48.1M | $11.9M | −$476,000 | −$541,000 | −$12.2M | −$18.4M | −$19.7M | −$6.3M | −$1.5M | $14.9M | −$6.3M |
| Tangible book value | $1.07B | $1.08B | $1.08B | $1.12B | $1.13B | $487.0M | $508.0M | $526.7M | $556.5M | $579.0M | $601.4M | $615.7M |
| Book value per share | $20.85 | $21.13 | $21.29 | $21.68 | $22.36 | $5.85 | $6.07 | $6.20 | $6.48 | $6.71 | $6.94 | $7.10 |
| Shares outstanding | 55.5M | 55.3M | 55.4M | 55.4M | 54.4M | 96.6M | 96.2M | 96.5M | 96.8M | 96.8M | 96.8M | 96.8M |
| Current ratio | 0.42 | 0.48 | 1.25 | 0.99 | 0.99 | 0.77 | 0.61 | 0.70 | 0.87 | 0.97 | 1.39 | 0.88 |
| Quick ratio | 0.42 | 0.51 | 1.14 | 1.00 | 0.87 | 0.68 | 0.48 | 0.57 | 0.72 | 0.82 | 1.17 | 0.68 |
| Debt / equity | 0.97 | 0.94 | 0.93 | 0.87 | 0.78 | 2.49 | 2.26 | 1.97 | 1.76 | 1.68 | 1.62 | 1.54 |
| Equity / assets | 47.4% | 48.2% | 48.5% | 50.3% | 52.8% | 26.7% | 28.6% | 30.9% | 33.4% | 34.4% | 35.4% | 36.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
SMA financial position
At the end of fiscal 2025 (December 31, 2025), SmartStop Self Storage REIT had total assets of $2.4 billion (up 19.1% from a year earlier), total liabilities of $1.2 billion and shareholders' equity of $1.2 billion. It held $54.2 million in cash and short-term investments against $1.1 billion of debt, net debt of $1.0 billion. Its current ratio was 1.25. In the latest quarter (ended June 30, 2026) total assets were $2.4 billion and equity $1.2 billion.
Related: SMA income statement, SMA cash flow statement, SMA key metrics. See the SMA stock overview for the latest quote and news.
SMA balance sheet FAQ
What are SmartStop Self Storage REIT's total assets?
SmartStop Self Storage REIT reported total assets of $2.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.0 billion a year earlier.
How much debt does SmartStop Self Storage REIT have?
SmartStop Self Storage REIT had $1.1 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.93.
How much cash does SmartStop Self Storage REIT have?
SmartStop Self Storage REIT held $54.2 million in cash and short-term investments at the end of fiscal 2025; with $1.1 billion of debt that is net debt of $1.0 billion.
What is SmartStop Self Storage REIT's book value?
SmartStop Self Storage REIT's shareholders' equity (book value) was $1.2 billion at the end of fiscal 2025, or $24.96 per share.
What is SmartStop Self Storage REIT's current ratio?
SmartStop Self Storage REIT had current assets of $59.4 million and current liabilities of $47.4 million, a current ratio of 1.25 (it can cover its short-term obligations).
How much goodwill does SmartStop Self Storage REIT have?
SmartStop Self Storage REIT carried $104.0 million of goodwill and intangible assets, 4.3% of total assets, at the end of fiscal 2025.