PSA · Public Storage

$322.48 +7.47 (+2.37%) At close · Jul 24

Market Cap

$56.61B

175.55M

Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.

Revenue

$4.82B +2.7%

FY2025

Net Income

$1.78B -13.9%

FY2025

Gross Margin

73% -0.5pp

FY2018

Operating Margin

53.33% -0.4pp

FY2017

Diluted EPS

$9.01 -15.3%

FY2025

Operating Cash Flow

$3.19B +1.9%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Revenue	+4.9%	+10.6%	+7.3%	$4.86B	$4.82B	$4.7B	$4.52B	$4.18B	$3.42B	$2.92B	$2.86B	$2.76B	$2.67B	$2.56B	$2.38B	$2.18B	$1.96B	$1.84B	$1.74B	$1.61B	$1.62B	$1.72B	$1.79B
Cost of Revenue	+5.2%	+5.7%	—	$796.78M	—	—	—	—	—	—	—	$739.72M	$707.98M	$669.08M	$635.5M	$613.32M	$559.76M	—	—	—	—	—	—
Rental Operating Expenses	+6.3%	+6.6%	+5.0%	—	—	—	—	—	$852.03M	$807.54M	$762.42M	$709.74M	$657.63M	$617.91M	$586.7M	$566.9M	$524.09M	$517.64M	$523.11M	$494.72M	$484.9M	$517.75M	$579.19M
Gross Profit	+4.9%	+7.5%	—	$2.03B	—	—	—	—	—	—	—	$2.01B	$1.96B	$1.89B	$1.75B	$1.56B	$1.41B	—	—	—	—	—	—
Gross Margin	—	—	—	—	—	—	—	—	—	—	—	73%	73.47%	73.87%	73.32%	71.83%	71.51%	—	—	—	—	—	—
General & Administrative	+14.2%	+5.1%	+1.9%	$111.85M	$106.68M	$106.68M	$80.63M	$71.67M	$75.97M	$83.2M	$62.15M	$104.71M	$82.88M	$83.66M	$88.18M	$71.46M	$66.68M	$56.84M	$52.41M	$38.49M	$35.74M	$62.81M	$59.75M
Amortization of Intangibles	-0.4%	+42.3%	+13.7%	$89.9M	$94M	$117.6M	$82.7M	$95.2M	$76.6M	$16.1M	$16.8M	$16.6M	$15M	$21.7M	$26.1M	$48.4M	$24.1M	$10.5M	$11.9M	—	—	—	—
Depreciation & Amortization	+9.1%	+15.8%	+10.5%	$1.16B	$1.15B	$1.13B	$970.06M	$888.15M	$713.43M	$553.26M	$512.92M	$483.65M	$454.53M	$433.31M	$426.01M	$437.11M	$387.4M	$357.78M	$357.97M	$353.25M	$339.45M	$408.98M	$619.6M
Restructuring Charges	—	—	—	—	$4.88M	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Impairment of Real Estate	—	—	—	—	$4.35M	$0	$0	—	—	—	—	—	$0	$0	—	—	—	—	—	$1.9M	—	$250K	—
Total Costs & Expenses	+9.9%	+13.1%	+9.7%	$2.92B	$2.89B	$2.8B	$2.43B	$2.18B	$1.81B	$1.56B	$1.43B	$1.38B	$1.26B	$1.19B	$1.15B	$1.12B	$1.01B	—	—	—	—	—	—
Operating Income	+10.5%	+10.3%	—	—	—	—	—	—	—	—	—	—	$1.42B	$1.37B	$1.23B	$1.06B	$951.1M	$871.98M	$762.81M	$692.65M	—	—	—
Operating Margin	—	—	—	—	—	—	—	—	—	—	—	—	53.33%	53.68%	51.73%	48.47%	48.4%	47.33%	43.94%	42.92%	—	—	—
EBITDA	+8.0%	+8.8%	—	—	—	—	—	—	—	—	—	—	$1.88B	$1.81B	$1.66B	$1.49B	$1.34B	$1.23B	$1.12B	$1.05B	—	—	—
Interest Expense	+30.7%	+40.2%	+86.1%	$312.5M	$304.5M	$287.4M	$201.13M	$136.32M	$90.77M	$56.28M	$45.64M	$32.54M	$12.69M	$4.21M	$610K	$6.78M	$6.44M	$19.81M	$24.22M	$30.23M	$29.92M	$43.94M	$63.67M
Equity in Earnings of Unconsolidated Entities	-55.2%	-34.6%	-15.4%	$12.81M	$9.6M	$19.82M	$27.9M	$106.98M	$232.09M	$80.5M	$69.55M	$103.5M	$75.66M	$56.76M	$50.94M	$88.27M	$57.58M	$45.59M	$58.7M	$38.35M	$53.24M	$20.39M	$12.74M
Pretax Income	-25.8%	—	—	$1.91B	$1.79B	$2.09B	$2.17B	$4.38B	$1.97B	—	—	—	—	—	—	—	—	—	$774.01M	$693.29M	$696.91M	$650.47M	—
Income Tax	—	—	—	-$7.09M	-$7.23M	$4.67M	$10.82M	$14.33M	$12.37M	—	—	—	$0	$0	$0	$0	$0	—	—	—	—	—	—
Net Income	-25.7%	+5.6%	+3.1%	$1.9B	$1.78B	$2.07B	$2.15B	$4.35B	$1.95B	$1.36B	$1.52B	$1.71B	$1.44B	$1.45B	$1.31B	$1.14B	$1.05B	$939.26M	$823.84M	$672.04M	$834.62M	$935.18M	$457.54M
Net Margin	—	—	—	—	36.99%	44.13%	47.55%	103.99%	57.18%	46.56%	53.26%	62%	54.05%	56.77%	55.06%	52.55%	53.56%	50.98%	47.46%	41.64%	51.43%	54.36%	25.6%
Net Income Attributable to Noncontrolling Interests	-9.5%	+25.9%	—	$12.79M	$12.68M	$12.4M	$11.79M	$17.13M	$6.38M	$4.01M	—	—	—	—	—	—	—	—	$2.83M	—	—	—	—
Net Income Available to Common Stockholders	-27.4%	+7.6%	+4.2%	$1.7B	$1.59B	$1.87B	$1.95B	$4.14B	$1.73B	$1.1B	$1.27B	$1.49B	$1.17B	$1.18B	$1.05B	$908.18M	$844.73M	$669.69M	$561.75M	$399.18M	$585.97M	—	—
Comprehensive Income	-25.2%	+5.6%	+3.4%	$1.9B	$1.81B	$2.07B	$2.16B	$4.32B	$1.94B	$1.38B	$1.52B	$1.72B	$1.46B	$1.43B	$1.29B	$1.1B	$1.05B	$961.27M	$816.6M	$671.27M	$851.55M	—	—
EPS (Basic) USD/shares	-27.4%	+7.5%	+4.0%	—	$9.04	$10.68	$11.11	$23.64	$9.91	$6.29	$7.30	$8.56	$6.75	$6.84	$6.10	$5.27	$4.92	$3.93	$3.31	$2.36	$3.48	$4.19	$1.18
EPS (Diluted) USD/shares	-27.4%	+7.5%	+4.0%	—	$9.01	$10.64	$11.06	$23.50	$9.87	$6.29	$7.29	$8.54	$6.73	$6.81	$6.07	$5.25	$4.89	$3.90	$3.29	$2.35	$3.47	$4.18	-$0.01
Shares Outstanding (Basic Avg) shares	0.0%	+0.1%	+0.2%	—	175.45M	175.35M	175.47M	175.26M	174.86M	174.49M	174.29M	173.97M	173.61M	173.09M	172.7M	172.25M	171.64M	170.56M	169.66M	168.88M	168.36M	168.25M	169.34M
Shares Outstanding (Diluted Avg) shares	-0.1%	+0.1%	+0.1%	—	175.9M	176.04M	176.14M	176.28M	175.57M	174.64M	174.53M	174.3M	174.15M	173.88M	173.51M	173.14M	172.69M	171.66M	170.75M	169.77M	168.77M	168.68M	169.85M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $311.9M in buybacks, $4.59B in dividends.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

—

EV/EBIT

—

P/E (TTM)

33.31×

REIT - Industrial median 33.31×

P/FFO (FY2025)

20.40×

REIT - Industrial median 18.20×

P/FFO uses the company-stated “FFO per share”, extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Self Storage Operations	$4,489,413,000	$4,395,993,000	$4,259,613,000	$3,946,028,000	$3,203,566,000	$2,721,630,000	$2,684,552,000	$2,597,607,000
Ancillary Operations	$334,700,000	$299,623,000	$258,077,000	$236,135,000	$212,258,000	$193,438,000	$170,556,000	$161,916,000

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Self Storage Operations	$4,489,413,000	$4,395,993,000	$4,259,613,000	$3,946,028,000	$3,203,566,000	$2,721,630,000	$2,684,552,000	$2,597,607,000
Ancillary Operations	$334,700,000	$299,623,000	$258,077,000	$236,135,000	$212,258,000	$193,438,000	$170,556,000	$161,916,000

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Self Storage Operations	$3,312,375,000	$3,259,273,000	$3,197,663,000	$2,965,819,000	$2,351,536,000	$1,914,087,000	$1,922,136,000	$1,887,868,000
Ancillary Operations	$201,763,000	$178,342,000	$172,081,000	$163,437,000	$143,690,000	$133,519,000	$119,820,000	$114,572,000

Operating Margin by Segment (%)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Self Storage Operations	73.8%	74.1%	75.1%	75.2%	73.4%	70.3%	71.6%	72.7%
Ancillary Operations	60.3%	59.5%	66.7%	69.2%	67.7%	69%	70.3%	70.8%

Key facts CIK 1393311 CUSIP 74460D109 13F (30d) 304 filings 294 filers Visit website Investor relations